Comment: the rising stars in-house – bluechip legal teams are bursting with talent

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In-house

The first Legal Business edition of the year coincides with a major project for us: the second edition of our popular GC Power List, which launched last year. The idea is straightforward: we research in-house and private practice to identify a list of outstanding individuals who demonstrate the influence and rising clout that has come to define the modern in-house profession.

While the first report focused on senior GCs, for the second edition we have taken on the challenge of addressing the best performers coming into their own during their 30s and early 40s – the GCs of tomorrow.

In-house: Shell finds internal replacement for Rees as it picks Ching as legal head

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In-house

Energy giant Royal Dutch Shell has this time found an in-house replacement legal director Peter Rees QC, today (10 February) announcing former Singapore legal head Donny Ching as its new legal director with immediate effect.

UK-qualified Ching, whose most recent role was general counsel for Shell’s project and technology business replaces litigator Rees, who surprised many when he announced his departure last month – three years after joining Shell from Debevoise & Plimpton.

Three’s company: BLP’s former head of restructuring Ben Larkin joins Jones Day

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Strategic recruitment Berwin Leighton PaisnerJones Day

The third partner to leave Berwin Leighton Paisner (BLP) for Jones Day in under six months, former head of restructuring and insolvency Ben Larkin has joined the top 10 Global100 law firm’s 100 lawyer-strong global restructuring practice.

Described as ‘an excellent operator’ by the Legal 500, during his time at BLP Larkin advised on stand out mandates such as the restructuring of companies in the TXU Group and acted for RBS in the restructuring of Le Méridien hotel group.

NRF unveils rise in bank loans to £55m but drop in net debt as South African partner appointed as global chair

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Financial results 2012/13 Norton Rose Fulbright

Norton Rose’s last pre-Fulbright & Jaworski merger limited liability partnership accounts reveal that the top 10 LB100 firm’s bank loans rose from £47m to £55m during 2013, with the amount repayable within one year up from £3.3m to £16m, although its net debt has been cut by over two thirds.

The firm, which this week named South African chairman Sbu Gule as its new global chairman, was in 2013 due to repay £34m of bank loans in between two and five years, up on a figure of £4,830 in 2012.

Skadden’s London head Buck steps down as the City claims global management positions in energy and litigation

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Leadership Skadden, Arps, Slate, Meagher & Flom

Skadden, Arps, Slate, Meagher & Flom’s longstanding European head Bruce Buck has stepped down from his role as London head as the leading Wall Street firm also makes a series of senior appointments that have seen a shift in power to the City.

After 25 years as Skadden’s City head, London-office founder Buck (pictured) has been replaced by corporate partner Pranav Trivedi. Buck will continue to serve as the firm’s European head.

LLP latest: Speechly points to owed client fees for fall in profits as Ashurst and Hill Dicks also post profit drop

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Financial results 2012/13 AshurstHill Dickinson

Private-client focused Speechly Bircham has become one of the latest LB100 firm to post its limited liability partnership (LLP) accounts at Companies House, blaming its near-double digit drop in profits on fees due from one client despite overall cash collection having improved.

The top 60 firm, which revealed a broadly flat revenue, down 0.9% to £57m from £57.6m for the 2012/13 financial year, saw a 9% pre-tax profit slide to £18.4m from £20.1m.

In-house: face of BT Law to change after Miles Jobling steps aside

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In-house BT

The face of BT Law, having last year secured a licence from the Solicitors Regulation Authority to hive off BT’s successful motor claims business into an alternative business structure (ABS), Miles Jobling has now handed over his lead role to Sheffield-based co-founder Archana Makol.

Makol has become the Compliance Officer of the Legal Practice (COLP) for BT Law, as most of the division’s contracts are processed out of Sheffield and a spokesperson for the telecoms giant explained: ‘The COLP role is very important and needs the person to be very close to the day-to-day operation.’

Seoul searching: Stephenson Harwood hires DLA Piper’s South Korea head Michael Kim

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Asia Stephenson Harwood

With five of its nine overseas offices in South and East Asia, it is perhaps unsurprising that Stephenson Harwood has become the latest UK firm to make plans to open in the burgeoning Seoul market, with the hire of DLA Piper’s local office head and litigation partner Michael Kim.

Kim brings with him a developed reputation in South Korea and experience in shipping, ship finance, shipbuilding and offshore and general commercial litigation and arbitration matters.

However, the top 35 UK firm today (7 February) announced that it has yet to apply for a license to set up in Seoul and Kim will be based in London initially, in the anticipation of relocating to its latest Asian outpost when permission is granted.

Cost cutting and near-shoring – Field Fisher Waterhouse ties up with Manchester’s Heatons

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Legal mergers Fieldfisher

Following last year’s announcement from Field Fisher Waterhouse that it was looking to move a number of its London support functions to Manchester in a bid to cut costs, the top 40 LB100 has merged with local boutique Heatons.

Field Fisher’s partnership voted last week to merge with Heatons, which specialises in real estate, corporate and intellectual property. In 2006 the now single-site Manchester firm lost its Birmingham office to Clarke Willmott, leaving it with just 12 fee earners at the time including three partners, which has subsequently dropped to eight fee earners, led by managing partner Matthew Fleetwood.

Comment: Magna Carta, bribery and a bit of confusion – Global Law Summit starts the countdown

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Legal affairs

It turns out that hundreds of years of legal history waits not even for Bob Crow so Thursday evening (6 February) saw an opening countdown to the planned Global Law Summit, the sort of Government-backed venture to celebrate the Magna Carta, English traditions of rule of law and the UK’s role as a legal services leader.

As such, a sizeable group of senior figures from across the profession braved a grid-locked London and variable security arrangements at Mansion House to hear a debate on bribery law and flag up the Global Law Summit planned for next year to mark 800 years of the drafting of Magna Carta.