LB100 drives income up 9% to £26.35bn but fears mount of a chaotic no-deal as Brexit fallout spreads

LB100 drives income up 9% to £26.35bn but fears mount of a chaotic no-deal as Brexit fallout spreads

With daily headlines reminding the City of the Brexit-induced crisis engulfing the UK, the Legal Business 100 (LB100) has shrugged off the pervasive uncertainty to post another year of robust growth.

Amid the increasing probability of the UK facing a wrenching ‘no-deal’ exit from the EU on the looming 31 October deadline, the LB100 results show the UK’s leading law firms driving collective revenues up 9% to £26.35bn.

Revolving doors: US & City firms target Simmons & Simmons as Ashurst makes hires

Revolving doors: US & City firms target Simmons & Simmons as Ashurst makes hires

US & City firms saw a steady influx of lateral hires across sectors as Latham & Watkins, Allen & Overy (A&O) and Watson Farley & Williams hired partners from Simmons & Simmons.

US firm Latham hired Simmons’ head of equity capital markets, Chris Horton, as partner in its corporate department. Horton joined Simmons in 2008 and has experience advising on IPOs, secondary offerings and M&A transactions by listed companies, investment banks, and hedge funds.

Another team walks at Clydes as eight partners depart in San Francisco

Another team walks at Clydes as eight partners depart in San Francisco

Eight partners will be leaving Clyde & Co’s  San Francisco office in favour of setting up their own firm in the US.

As reported in RollOnFriday, the partner group led by Joan D’Ambrosio and Bill Casey, focuses on insurance coverage and monitoring work. The team includes Christina Terplan, Julie Hawkinson, Jamie Narbaitz, Christina Marshall, Eric Moon and David Jordan who will also be leaving the firm.

Bad timing – A&O loses M&A duo to Skadden following failed US merger talks

Bad timing – A&O loses M&A duo to Skadden following failed US merger talks

Allen & Overy has lost two well-respected London corporate partners to Skadden, Arps, Slate, Meagher & Flom just days after the magic circle firm confirmed the collapse of its merger talks with US firm O’Melveny & Myers.

Simon Toms and George Knighton have quit A&O, inflicting a considerable hit on its M&A capabilities ten days after it announced it was calling it a day on its attempts to tie up with O’Melveny after more than a year of talks.

Dealwatch: Slaughters leads on Hong Kong’s £32bn LSE bid as US firms tap into mid-market

Dealwatch: Slaughters leads on Hong Kong’s £32bn LSE bid as US firms tap into mid-market

Strategic deals have continued into September after a busy summer, with firms rallying to get deals over the line before a Brexit cliff-edge threatens to become a reality.

Slaughter and May has landed a mandate to advise Hong Kong Exchanges and Clearing (HKEX) on a bid which, if successful, would see it acquire the London Stock Exchange (LSE) for £32bn. Partner David Watkins is leading the Slaughters team.

Dentons furthers pan-African play as it announces five new local deals

Dentons furthers pan-African play as it announces five new local deals

Dentons is showing no sign of slowing its expansion spree of late, making it ten tie-ups in less than two months after announcing it is to enter another five African countries and add a further 54 lawyers to its ranks.

The 10,000-lawyer firm said it is to combine with a firm each in Angola, Morocco, Mozambique, Uganda and Zambia, building on what chief executive Elliott Portnoy described as a strategy to ‘become the first pan-African law firm, owned and controlled by Africans’.

Three in the race to be next Bakers chair as partners prepare to vote

Three in the race to be next Bakers chair as partners prepare to vote

Baker McKenzie EMEA chief executive Fiona Carlin (pictured), Hong Kong managing partner Milton Cheng and North America head Colin Murray have made the final stage of the election process to become the firm’s next chair.

Bakers’ seven-strong appointments committee drew up the shortlist of three candidates earlier this week following soundings with partners over the summer, whittled down from a list of six contenders who had initially been in the running.

Deloitte launches pioneering post-grad training contract as education shake-up looms

Deloitte launches pioneering post-grad training contract as education shake-up looms

Big Four giant Deloitte has teamed up with the University of Law (ULaw) to launch a work-based training contract for graduates to harness the incoming regime to replace traditional solicitor training routes.

Hailed as a pioneering move, the three-year course will be targeted at graduates, phasing out the need for the Legal Practice Course (LPC), making use of the incoming Solicitors Qualifying Examination (SQE) regime, touted as a more flexible means of producing solicitors.

A&O’s Mansell to appear before SDT in December as #MeToo fallout promises busy winter

A&O’s Mansell to appear before SDT in December as #MeToo fallout promises busy winter

Allen & Overy (A&O) employment partner Mark Mansell is to face his first Solicitor Disciplinary Tribunal (SDT) hearing on Wednesday 5 December following an investigation into his role drafting a controversial non-disclosure agreement (NDA) for disgraced film producer Harvey Weinstein.

A spokesperson for the SDT confirmed to Legal Business yesterday (9 September) the new date for Mansell’s hearing, which had originally been scheduled for 3 June.