DAC Beachcroft is looking for further opportunities in Europe and South America after doubling the size of its Madrid office by combining with a three-partner insurance boutique.
The firm today (21 January) took on 20-lawyer outfit Asjusa, which focuses on professional liability and insurance in the healthcare sector, led by partners Eduardo Asensi Pallarés and Iñigo Cid-Luna Clares. The third partner joining is Julio Albi.
In a month of significant hires and departures, online money payment company TransferWise has snapped up rival Monzo Bank’s chief legal officer Dean Nash (pictured) as its new general counsel (GC) following the departure of Jenifer Swallow in July.
Nash, who featured in the GC Powerlist 2019, has left the company after nearly four years of rapid growth to become the UK’s most recognisable mobile-only bank.
Firms got back into the swing of City hiring last week after an early January lull as RPC added DWF’s head of business restructuring, Linklaters hired a banking partner and Sidley Austin recruited to its antitrust and competition practice.
RPC has beefed up its restructuring and insolvency team in London with the hire of DWF’s head of business restructuring Finella Fogarty.
Mishcon de Reya has called it quits in Manhattan after ten years as the firm’s three remaining partners jumped ship for the New York office of King & Wood Mallesons.
Dispute resolution partners Mark Raskin, Robert Whiteman and Vincent Filardo have joined the global disputes practice at KWM along with six senior counsel and one paralegal.
The number of new Queen’s Counsel (QC) has rebounded after a 2018 dip, including a record 22 appointments from ethnic minority backgrounds.
The proportion of female appointments fell, however, two percentage points to 28% of successful candidates, making up 30 of the 114 to take up silk in total. A total of 108 QCs were appointed last year.
Reed Smith has opened its fifth European office in Brussels, following the hire of five partners to the firm’s corporate group.
The partners all come from different firms, and will be joined by two associates and one counsel. The partners focus on competition/antitrust, with Brussels long being a hub for international firms’ competition work.
Shares in listed law firm Ince Group fell drastically today (15 January) after the company called for an additional £16m in finance to reload its balance sheet following Gordon Dadds’ acquisition of the firm in 2018.
The placing saw shares fall almost 50% to 45p from 89p, before rising slightly to 47p. Ince sought the accelerated book build to ‘continue with its programme of partner recruitment, especially in the overseas offices to bolster and enhance their existing practices.’
Axiom Managed Solutions (AMS) has abandoned efforts to sell to new investors following its split from Axiom, instead rebranding as Factor following further commitments from existing stakeholders.
The legal managed services business was put on the market in early 2019 when the wider Axiom group unveiled plans to pursue an initial public offering (IPO), although that was ultimately abandoned in favour of a sale to Permira.
The City lateral recruitment market is struggling to return to pre-Christmas activity levels, with only two firms making notable partner hires. Crowell & Moring has revisited Squire Patton Boggs for another partner hire while Addleshaw Goodard has appointed Linklaters’ real estate disputes head as partner.
Crowell & Moring continues to make prominent hires to its London office, most recently recruiting partner Nicola Phillips to its international dispute resolution group. Phillips has experience in asset-based lending, trade finance, insurance, and employment-related disputes. She has also worked on cross-border investigations in Europe and the Middle East as well as complex civil fraud cases.
City blueblood Slaughter and May has increased its salary for associates with 2.5 years post-qualified experience (PQE) or more, after putting newly-qualified (NQ) solicitors in line for a £100,000 pay package last summer.
The move means associates in the 2.5 PQE salary scale and above will now receive an increase of between 2.2% and 8.2%, effective this month. Last year’s pay hike only applied to those with up to 2.5 years PQE.