‘Firing on all cylinders’: Akin sees double-digit growth in revenue and PEP

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Financial results 2023/24 Akin Gump Strauss Hauer & Feld
‘Firing on all cylinders’: Akin sees double-digit growth in revenue and PEP

In keeping with Hogan Lovells’ recently released financial results, Akin has reported strong financials for 2023, contradicting fears of diminished returns for the global elite.

Revenue at the firm is up 11% to $1.37bn from $1.23bn, while profit per equity partner (PEP) has jumped 22% to $3.15m from $2.58m. This follows a sluggish 2022 for the firm, which saw global revenue grow by only 1% and PEP drop by 17%.

The firm highlighted its financial restructuring, private credit, traditional energy, energy transition, international trade and litigation practices as particularly high performers over the last financial year.

Revolving Doors: Fried Frank expands London team with Goodwin trio as Orrick faces global losses

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Strategic recruitment
Revolving Doors: Fried Frank expands London team with Goodwin trio as Orrick faces global losses

Leading the high-profile moves this week, Fried Frank has strengthened its London private equity practice with a triple hire from Goodwin. Christian Iwasko , Michelle Tong, and Priya Rupal have departed from Goodwin after a three-year stint, and bring with them experience at Sidley and Kirkland & Ellis.

Elsewhere in the City, Clifford Chance has bolstered its finance team with the addition of Blake Jones from Paul Hastings. Jones departs from Paul Hastings after five years, bringing extensive expertise in structured finance, having previously worked at Linklaters earlier in his career.

Paul Hastings scores double win from Latham after recent London losses

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Strategic recruitment Paul Hastings
Paul Hastings scores double win from Latham after recent London losses

Paul Hastings has hired litigation and trial partners Oliver Browne and Stuart Alford KC from Latham & Watkins, just days after it lost structured finance partner Blake Jones to Clifford Chance. Paul Hastings confirmed the moves today (16 February).

Browne leaves Latham after 18 years, having most recently served as the London co-chair of the litigation and trial department. He advises on cross-border disputes, both in court and arbitration, spanning various sectors and involving high-net-worth individuals.

Simpson Thacher unveils new London head as office posts double-digit revenue growth

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Global London Simpson Thacher & Bartlett
Simpson Thacher unveils new London head as office posts double-digit revenue growth

Simpson Thacher has announced that Wheatly MacNamara will take over from Jason Glover as London managing partner in October. Glover, who has led the office since 2016, will remain at the firm in a strategic role. The news comes as the City office recorded a 23% rise in revenue for 2023.

MacNamara (pictured), whose practice focuses on real estate acquisitions, dispositions and joint ventures, joined the firm in 2005 and has been a partner since 2016. Her client book includes Blackstone, KKR, KSL, Apollo and Northwood.

‘It’s a differentiating year’: Hogan Lovells sees double-digit growth in revenue and PEP

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Financial results 2023/24 Hogan Lovells
‘It’s a differentiating year’: Hogan Lovells sees double-digit growth in revenue and PEP

As financial reporting season kicks off in earnest, Hogan Lovells has today (13 February) reported a 10% boost in global revenue to $2.68bn as profit per equity partner (PEP) jumped 20% to $2.74m.

This performance represents a $250m increase in the firm’s top line, contrasting with a $174m decline last year. After a 7% drop in revenue and an 8% decrease in PEP in 2022/23, this year’s double-digit growth strikes an optimistic tone for other Global 100 players.

Revolving doors: Moves in disputes and antitrust as Paul Weiss continues sweep of London recruits

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Strategic recruitment
Revolving doors: Moves in disputes and antitrust as Paul Weiss continues sweep of London recruits

Simpson Thacher begins this week’s lateral hire round-up with its recruitment of Legal 500 international arbitration leading individual David Edwards from Skadden. Edwards will co-lead the firm’s European disputes practice alongside Tyler Robinson.

The hire brings the London office to a total of five dispute partners: Edwards, Robinson, and antitrust specialists Antonio Bavasso, Ross Ferguson, and Étienne Renaudeau. All three antitrust partners are also listed as partners in the firm’s Brussels office, which opened in September 2021 and is headed by Bavasso and Renaudeau.

King & Spalding takes another silk with hire of former director of public prosecutions

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Strategic recruitment King & Spalding
King & Spalding takes another silk with hire of former director of public prosecutions

King & Spalding has hired Sir Max Hill KC (pictured) into its London office. Hill served as director of public prosecutions for England and Wales from November 2018 to October 2023. A barrister since 1987, he took silk in 2008 and was knighted after leaving the Crown Prosecution Service (CPS) in January 2024.

Hill’s addition brings the number of KCs in the firm’s London office to four, alongside disputes partner Ruth Byrne KC, arbitration partner John Savage KC, and office managing partner Tom Sprange KC.

Revolving doors: White & Case doubles down on recruitment as BCLP loses three partners

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Strategic recruitment
Revolving doors: White & Case doubles down on recruitment as BCLP loses three partners

It has been a busy week for White & Case, with the firm seeing the return of Patrick Sarch to its global mergers and acquisitions practice in London. He will be head of UK public M&A in the London corporate/ M&A group.

Sarch worked at White & Case between January 2017 and March 2021, moving to Hogan Lovells in March 2021, where he was co-head of the firms UK M&A practice. He advises on corporate finance, cross-border, and domestic public company M&A.

Freshfields snaps up former FTC commissioner to bolster US antitrust offering

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Competition Freshfields Bruckhaus Deringer
Freshfields snaps up former FTC commissioner to bolster US antitrust offering

In a boost to its Washington DC presence, Freshfields has hired former Federal Trade Commissioner, Christine Wilson, as a senior adviser in its antitrust practice.

The firm has made a concerted effort to build out its antitrust offering in both the US and Europe over the last year. In October 2023, it appointed former senior director of mergers at the UK’s Competition and Markets Authority, Colin Raftery, to the firm’s London office. While in June 2023, antitrust litigators Heather Lamberg and Justina Sessions joined the firm’s Washington DC and Silicon Valley antitrust practices. Antitrust and foreign investment practitioner Charlotte Colin-Dubuisson also joined the firm’s Paris office in January 2024.

Time to Talk Day Q&A: Andrew Nealon, Vinson & Elkins

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ESG Vinson & Elkins
Time to Talk Day Q&A: Andrew Nealon, Vinson & Elkins

For this year’s Time to Talk Day (1 February), which aims to encourage workplaces to start a conversation about mental health, we sat down with Vinson & Elkins energy and infrastructure partner Andrew Nealon (pictured) to discuss the impact of law firm culture on mental health and some of the positive industry changes he has witnessed over the course of his career so far.