Pfizer maintains business-as-usual for legal alliance as Rosenthal latest GC to depart

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In-house

It was recognised at its 2009 inception as the most radical attempt to carve up the way bluechips instruct their external advisers within a fixed-fee network, but last week Pfizer confirmed Pfizer Legal Alliance (PLA) chief counsel and assistant general counsel Ellen Rosenthal is leaving, shortly in the wake of the departure of PLA pioneer, former general counsel Amy Schulman.

Rosenthal was instrumental in setting up the PLA alongside Schulman, who created the alliance that sees 19 law firms handle the lion’s share of Pfizer’s legal work on a flat-fee structure, in a still rare example of a move entirely away from the billable hour.

After South Africa, Hogan Lovells launches nearshoring venture in Birmingham

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Innovation Hogan Lovells

Following Hogan Lovells announcement at the start of February that it is setting up a business process outsourcing centre in South Africa, the top 15 LB100 law firm has launched a new legal services centre in Birmingham to undertake low level legal work as a cost effective extension of its London office.

The nearshoring venture, called the Legal Service Centre, will be developed over time in response to client demand but it is expected to comprise up to 20 lawyers initially. London partner Alan Greenough will be moving to Birmingham to manage the office, which is expected to be established by autumn this year.

PwC forms new law firm in Canada one month after obtaining ABS status

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ABS PwC Legal

In the first major development since PricewaterhouseCoopers last month received authorisation from the Solicitors Regulation Authority (SRA) to become an alternative business structure (ABS), the accounting giant announced on 1 March that it has formed a new law firm in Canada by tying up with Toronto immigration outfit Bomza Law Group.

The new firm will be called PricewaterhouseCoopers Immigration Law, and Christopher Kong, national managing partner of PwC Canada’s tax services said: ‘With a range of global employment opportunities and the related complexities to employees and employers, an immigration law firm affiliated with PwC provides an opportunity to help our clients with the mobility of their people.’

Sole adviser: Eversheds wins Tyco-style primary legal services contract with IATA across 158 countries

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Innovation Eversheds Sutherland

Building on the success of its game changing multi-million pound annual retainer with Tyco International, Eversheds has won its largest-ever primary legal services provider contract with the International Air Transport Association (IATA) across 158 countries.

Following a competitive pitch, the UK top 10 firm has secured a contract to service all the legal needs of IATA, the trade association for the world’s airlines, in 93 countries across Europe, North Asia and Asia Pacific, in addition to the existing fixed-fee contract it won last April to deliver legal services in 65 countries across Africa and the Middle East.

And so the tally rises, Jones Day hires fourth BLP partner since August

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Strategic recruitment Berwin Leighton PaisnerDLA PiperJones Day

Fresh from the news on Friday (28 February) that DLA Piper has hired three Berwin Leighton Paisner partners, Jones Day has added to its own tally of laterals from the firm by recruiting banking and capital markets partner Paul Simcock.

Simcock specialises in leveraged finance and has acted for private equity sponsors, senior and junior lenders, strategic investors and corporate borrowers on leveraged acquisitions.

Good things come in threes…or fours: DLA Piper secures triple lateral hire from BLP

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Strategic recruitment Berwin Leighton PaisnerDLA Piper

Following the announcement last September that Berwin Leighton Paisner (BLP) corporate partner Patrick Somers had joined DLA Piper, the top five Global 100 firm today (28 February) confirmed it has secured a further three lateral hires, including head of real estate finance Laurence Rogers.

Rogers joins the 4,036-lawyer firm alongside commercial real estate partner Richard Hopkinson-Woolley and corporate tax partner Neville Wright.

RBS share sell-off in Direct Line gifts Allen & Overy with £1bn deal

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In-house Allen & OverySlaughter and May

Just under a year earlier than expected by some in the City, Royal Bank of Scotland (RBS) this week (26 February) announced the sell-off of the majority of its remaining stake in Direct Line, gifting Allen & Overy (A&O) with a further bite of the cherry in a deal anticipated to be worth over £1bn.

A&O led by corporate partner David Broadley was first instructed on RBS’ float of 34.72% of Direct Line in the autumn of 2012, after the 80% nationalised bank was forced to offload the major insurer under EU regulations on state aid.

US financial results 2013: DLA achieves record revenue of $2.48bn as growth slows

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US firms DLA Piper

The highest-ever gross turnover but reduced growth figures was the message that came out of DLA Piper’s financials today (28 February), as the top Global 100 firm revealed a 1.7% increase in revenue to $2.48bn, while revenue per lawyer rose 3.3% to $625,000.

Profit per equity partner rose just 1% to $1.325m, while the global firm’s net income slipped 0.3% to $602m, although that still constitutes a significant improvement when compared with 2011 figures of $563m.

Comment: Paradigm shift vs recession – responding to a sceptical reader

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Legal affairs

We recently posted a comment piece addressing the issue of whether the forces impacting on the legal market represent a permanent structural shift or are just the result of a horrendous recession. Dry stuff that will leave the professional pulse unmoved for most, but still pretty fundamental to whether law firm leaders should start launching their Lawyers on Demand rip-offs and outsourcing anything that moves in a desperate attempt to future-proof their business.

One professional observer felt I was underplaying the level of permanent change facing the profession, and was kind enough to send me some research they have produced in the area.

‘Worst fears confirmed’ as Grayling announces final legal aid reform package

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Legal affairs

There was never likely to be much compromise and so it proved. The Government today (27 February) confirmed its final package of reforms to the legal aid system following consultation, that includes a range of measures ‘specifically designed to support lawyers through a period of transition and modernisation’. The package – which the Government hopes will slice more than £200m from the £1.2bn criminal legal aid budget – was swiftly condemned by the profession with the Bar Council claiming the measures confirmed its ‘worst fears’.