Guest post: The United States of Innovation – viewed from Wall Street, it could be a whole lot better

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Innovation

The other night I was fortunate enough to be invited to attend the FT’s Innovative Lawyers 2013 US awards ceremony. (The report was published here the next day in the paper, and you can download a PDF.)

Since this is now an annual event – this year marks the fourth time they’ve done it in the US – it’s an occasion to step back and see how the conversation has evolved. Here’s the telling final paragraph of last year’s introductory piece, following a lengthy series of anecdotes from managing partners about ‘buggy whips’, ‘new market dynamics’, ‘requiring behaviour to change’, ‘the wow factor’, and ‘adapting to the moving cheese’:

All the chairmen of the top firms talk about change and the need to ‘not fight the last war’. And yet at the same time they cannot, they say, see their firms being all that different in five years’ time.

Leadership: Watson Farley managing partner Michael Greville stands down

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Leadership Watson Farley and Williams

Watson, Farley & Williams (WFW) has announced that longstanding managing partner Michael Greville has stepped down from his role as managing partner, according to a statement released today (28 November).

Having been in the role for over 12 years, Greville will step down as chief in the middle of January 2014 and resume a fee-earning role, focusing on shipping, oil & gas, and energy sectors.

An election to succeed Greville is currently underway with Chris Lowe (head of the firm’s global maritime practice and former head of the Singapore office) and Lothar Wegener (head of WFW’s German offices) as coming forward as candidates to replace Greville as joint managing partners.

Guest post: Independence matters – banking and big law in the news

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Finance

Lawyers and banks are in the news again. Lawrence Tomlinson, Entrepreneur in Residence at the Department for Business, Innovation and Skills, has reported various abuses by RBS in particular and has this to say about the way banks instruct lawyers:

‘Any law firm that does business with the banks will have a clause in their contract, preventing them from taking action against the banks.This means that for businesses the pool of solicitors available to give them advice and take their case is extremely limited.

Southern comfort: Blake Lapthorn, Boyes Turner and Morgan Cole in three-way merger talks

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Legal mergers Blake Morgan

It would create a south-east giant with combined revenues approaching £100m but any potential tie-up between Blake Lapthorn, Boyes Turner and Morgan Cole could require some considerable rationalisation.

The firms are currently in the very early stages in merger talks, potentially creating a firm with offices across the Midlands, south of England and Wales, employing over 450 lawyers.

A statement from Blake Lapthorn managing partner Walter Cha said: ‘A merger is one of the many options we have been exploring and Morgan Cole and Boyes Turner – both excellent firms – have been among those we have talked to.  Discussions have not progressed beyond first stages at this juncture and it is too early to say whether talks will continue with either of the firms or indeed others.’

Consolidation continues as Manchester institution Pannone succumbs to Slater and Gordon’s advances

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Legal mergers Pannone CorporateSlater and Gordon

After months of speculation, Slater and Gordon has finally announced the acquisition of the consumer services and personal injury (PI) business of Manchester’s Pannone today (28 November) in a deal worth £33m.

Slater and Gordon will acquire the majority share of Pannone, including personal injury and serious injury, clinical negligence, court of protection, family, wills, trusts and probate, property, as well as some elements of the employment and dispute resolution practice areas.

According to a statement by Pannone: ‘A new and independent business called Pannone Corporate LLP will be formed at the same time which will focus on commercial and corporate work for business clients.’

Revolving doors: Strategic growth for Mishcon, Hill Dickinson, Herbert Smith Freehills, Orrick Rambaud and Addleshaw Goddard

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Strategic recruitment Herbert Smith FreehillsMishcon de Reya

Mishcon de Reya this week (25 November) announced that it is to completely restructure its tax offering, consolidating its real estate, corporate tax, and private tax and wealth planning divisions and invest in the area with the hire King & Wood Mallesons SJ Berwin tax partner John Skoulding and solicitor Charlie Sosna from Berkeley Law.

Focusing on UK and international M&A, management buy-outs and corporate restructurings, among other issues, Skoulding has worked across sectors including betting and gaming, fashion, retail, intellectual property and financial services.

No pay for delay: Court of Appeal holds firm on costs decision in ‘plebgate’ case

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Litigation

The post-Jackson hardline approach to costs budgeting was reinforced by a landmark Court of Appeal decision today (27 November) in a clear message to the profession that non-compliance will be ‘fatal’.

This latest decision – the most significant of the post-Jackson era – arises out of Andrew Mitchell MP’s ongoing ‘plebgate’ defamation claim against The Sun’s publisher, News Group Newspapers (NGN). It follows the High Court ruling in September that Mitchell, were he to win the claim, would not be entitled to recoup any of his costs from NGN after his solicitors, Atkins Thomson, failed to comply with a costs practice direction.

In-house draw: Chris Bown third Freshfields partner to take a corporate wage as he resigns for CVC

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Corporate Freshfields Bruckhaus Deringer

Freshfields Bruckhaus Deringer corporate partner Chris Bown has become the third senior partner in two months to resign from the Magic Circle firm for an in-house role, with news that he is to join private equity house CVC Capital Partners.

Bown, who founded Freshfields London-based private equity practice in 1999, will be joining longstanding client CVC as a senior advisor when he retires from the 2330-lawyer firm in April next year. He will start his new role on 1 May on a part-time basis, advising CVC’s deal teams and working with both external counsel and the in-house team, which is headed by managing director Richard Perris, who joined from Clifford Chance in 2005.

Clifford Chance global managing partner vote: Layton takes the crown

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Leadership Clifford Chance

The long-awaited decision over who will replace David Childs as Clifford Chance’s global managing partner (MP) has been announced, with the partnership electing global head of corporate Matthew Layton to take over the top management role after voting closed yesterday evening (27 November).

Layton (pictured above with Childs) was widely cited in the early stages of the election process as favourite to lead the 3,017-lawyer Magic Circle firm, with challengers emerging as Paris-based office managing partner and M&A lawyer Yves Wehrli; global head of tax, pensions and employment David Harkness; and City-based banking and finance partner Andrew Carnegie.

Team hire: TLT takes on 30-strong Irwin Mitchell team in Manchester

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Strategic recruitment Irwin MitchellTLT

TLT is putting its fledgling Manchester office at the centre of its UK-wide growth plans as the top 60 LB100 firm takes on a 30-strong Irwin Mitchell team, including former commercial litigation head John Lord.

The six-partner team, who will join the 250-lawyer firm’s six month old Manchester office before Christmas, also includes non-contentious property partner Andrew Bell, employment partner Ed Cotton, corporate partner Jon Close, commercial litigation partner Julien Luke and banking and finance litigation partner Tom Seabrook, along with 24 solicitors, paralegals and support staff.