Marco Cillario sizes up the pros and cons for legal advisers of the current ICO boom
‘We are in an odd position: we feel we need to be closely involved in this, but there is a reputational risk because there is a lot of fraud.’ Understandably, the partner expressing this view does not want himself or his firm identified. But such words still sum up many securities lawyers’ feelings on the hottest topic in their field for years. Continue reading “Focus: Wild West or new frontier? Securities counsel divided as the cryptocurrency ‘float’ rears its blockchained head”
City firms Linklaters and Herbert Smith Freehills (HSF) have been spurred into action by the swathe of sexual misconduct allegations that in recent months have plagued the industry, launching personal relationship disclosure and whistleblowing initiatives within a fortnight of one another.
In early May, Linklaters issued ‘guidance on how to manage relationships at work’, with the imperative that partners and staff disclose any relationship with colleagues to an office, group or practice head, or someone in HR, in order to manage ‘actual or potential’ conflict of interest. Continue reading “Full disclosure: Links and HSF usher in personal relationship policies in bid to face #MeToo demons”
Paul Hastings pulled off two headline lateral hires in London in a week as the US firm strengthens its corporate offering in the City.
Private equity rising star Anu Balasubramanian was the first hire announced, as DLA Piper lost another key dealmaker in the City. The addition will be a major boost to Paul Hastings’ City corporate and private equity practice, with Balasubramanian bringing experience in an array of mid-market work, acting for sponsors such as ABRY Partners, Accel-KKR, Oakley Capital and Aurium Capital Markets. Continue reading “Paul Hastings doubles up in the City as A&O loses global IP head to Kirkland”
London litigation specialist Rosenblatt became the fourth UK firm to list in May, simultaneously revealing plans to establish a third-party disputes funding division.
Rosenblatt raised £43m in its AIM flotation, giving the 21-partner outfit a £76m market capitalisation in what it described as a ‘significantly oversubscribed’ listing. In terms of value, it was the largest law firm initial public offering (IPO) in the UK to date. This could change with Knights’ listing slated to take place this summer. Continue reading “Rosenblatt unveils third-party funding ambitions following £43m float”
One of the UK’s big six energy suppliers, EDF Energy, has nearly halved its external advisers in a bid to plug into ‘deeper’ relationships, while the addition of two new firms mirrors the refreshment seen elsewhere in the Co-operative Group’s revamped legal panel.
In late April, CMS Cameron McKenna Nabarro Olswang and Bryan Cave Leighton Paisner (BCLP) were added to EDF’s new panel of eight firms, which has been cut from the previous 14. Continue reading “Refreshing revamps: EDF and Co-op Group look to new firms in panel reviews”
A longstanding and well-respected member of the in-house community, Felix Ehrat has abruptly stepped down from his role as general counsel (GC) of Swiss healthcare giant Novartis after becoming entangled in a controversy involving US President Donald Trump’s personal lawyer.
Ehrat said in mid-May he would retire from Novartis shortly thereafter. He had been GC and a member of the executive committee at the Basel-based pharmaceuticals company since 2011, but was forced to admit ‘an error’ relating to an agreement between the company and Michael Cohen – Trump’s lawyer. Continue reading “Veteran Novartis GC Ehrat steps down over ‘error’ in Trump lawyer agreement”
The mood among most managing partners at independent law firms from Lisbon to Moscow is certainly upbeat. And for good reason. Our third Euro Elite survey shows overall revenues of continental Europe’s 25 top independents had a strong year, reaching €4.04bn.
The number is only marginally up on last year’s €4.03bn, but with smaller outfits from Russia and the Baltics joining the elite club it still speaks of a robust performance among continental European players. The total number of lawyers in the group is marginally down to 10,753 from 10,867, while partner numbers have risen to 2,355 from 2,338. Continue reading “Europe’s elite continues robust performance as multi-site firms prosper”
Recent announcements from Linklaters and CMS have provided a fillip to international firms looking to gain a surer footing in China.
Linklaters announced in May that it had finally received the green light to practise Chinese law through a joint operations agreement with Shanghai outfit Zhao Sheng Law Firm. Continue reading “Asia calling: Linklaters and CMS confirm local law capability in Shanghai and Hong Kong”
William Fry’s David Carthy will join the firm to head new office
The decision of DLA Piper to join a handful of other City and international firms that have opened a Dublin office in the last year was partly to do with the UK’s move to leave the EU, and partly not. Continue reading “DLA joins Brexit march to Dublin after finding the right kind of leader”
Legal Business 100 pacesetter Fieldfisher has further extended its European reach with the opening of a new office in Luxembourg, which will be managed by country managing partner Ingrid Dubourdieu who joins from local firm D.Law.
Initially focusing on finance and funds work, the London-headquartered firm expects the office to grow into corporate M&A and international tax, and will complement existing offices in Brussels and Amsterdam. Continue reading “Fieldfisher continues European push with Luxembourg and Frankfurt offices”