International round-up: Ashurst pursues American dream with Texas opening as Eversheds expands in Bulgaria

International round-up: Ashurst pursues American dream with Texas opening as Eversheds expands in Bulgaria

In a week of globetrotting action for firms, Ashurst has solidified its American ambitions by opening a new office in Texas.

In May, Legal Business reported that Ashurst was seeking to add depth in the US as a ‘strategic priority’, with chief executive Paul Jenkins stating the firm needed ‘to do more in the US over time.’ Jenkins said that it was in the firm’s core sectors, which included infrastructure, financial institutions-related work, the digital economy, real estate, energy transition and funds, that Ashurst could be doing more stateside.

Revolving Doors: Paul Hastings adds two as McDermott boosts energy expertise

Revolving Doors: Paul Hastings adds two as McDermott boosts energy expertise

US firms have dominated transactional recruitment this week while UK-headquartered peers have focused on bolstering their disputes capabilities.

Paul Hastings continues its auspicious London growth trajectory, which saw its City revenue surge 41% in 2021/22, with a dual partner hire. The firm announced the addition of Jason Brooks to its structured credit team this week following the arrival of private equity partner Tom Cartwright last week.

‘Holding yourself accountable’: Squire Patton Boggs commits to net zero by 2035 with new ESG strategy

‘Holding yourself accountable’: Squire Patton Boggs commits to net zero by 2035 with new ESG strategy

Squire Patton Boggs (SPB) has become the latest firm to wade into the thorny environmental, social and governance debate, unveiling a UK ESG strategy with a pledge to hit net zero carbon emissions by 2035.

The Cleveland-headquartered firm, which has UK offices in London, Leeds, Manchester and Birmingham, is targeting a 15% reduction year on year, which it hopes will see emissions fall by 70% by the end of the decade.

‘A fantastic achievement’: Boodle Hatfield marks 300-year anniversary with revenue growth

‘A fantastic achievement’: Boodle Hatfield marks 300-year anniversary with revenue growth

In its tercentenary year, Legal Business 100 firm Boodle Hatfield has announced revenues of £30.7m for 2021/22, up 4% from £29.4m the previous year.

The latest figures continue the firm’s recent upward trajectory. Since 2016, the private wealth and real estate focused firm has recorded an average annual revenue increase of 5.5% and a 14% average increase in profit. In total, this equates to a 38% jump in revenue and a 113% increase in profit.

Dealwatch: Elite firms act on major private credit deal as playmakers pounce on TigerRisk acquisition

Dealwatch: Elite firms act on major private credit deal as playmakers pounce on TigerRisk acquisition

High-profile deals in the insurance, real estate and software sectors have been keeping advisers busy this week, as leading US and UK firms advised on high-profile mandates.

The trend of increasingly ambitious private credit deals broke new ground in recent days, as a host of City firms advised on the refinancing of The Access Group. The transaction, speculated to value in the region of £3.2bn, is the largest European private debt financing in history as well as the region’s largest ever unitranche facility.

Osborne Clarke adds over €60m to top line amid buoyant financials

Osborne Clarke adds over €60m to top line amid buoyant financials

Osborne Clarke (OC) has joined the slew of firms reporting robust financials, today (13 June) unveiling a 19% increase in overall turnover from €341m to €407m.

And in an endorsement of the UK market, domestic revenues jumped 20% from £166.4m to £199.1m. Profit per equity partner (PEP) also saw a notable increase, climbing 11% from £714,000 to £796,000.

Revolving Doors: Proskauer and Weil add to City restructuring ranks as Linklaters makes real estate finance hire

Revolving Doors: Proskauer and Weil add to City restructuring ranks as Linklaters makes real estate finance hire

Restructuring recruitment was the trend this week as both Weil and Proskauer strengthened the benches of their City insolvency groups.

Weil has brought in restructuring specialist Lois Deasey at the expense of Akin Gump. Well-regarded in the market, Deasey’s experience includes multi-jurisdictional restructuring transactions and insolvencies, as well as distressed and special situations.

‘Venerable as Cravath’: Wall Street stalwart breaks with tradition to invest in Washington DC

‘Venerable as Cravath’: Wall Street stalwart breaks with tradition to invest in Washington DC

Cravath, Swaine & Moore has announced plans to open an office in Washington DC having hired three partners from US regulatory bodies.

The move is a bold one by the Wall Street stalwart, known for its traditionally conservative approach. The new Washington office will become just the third in the firm’s global network, adding to the New York headquarters established in 1819, and the London outpost added in 1973.