Legal Business

Early numbers in US results season confirms solid growth as Shearman and Dechert lead the pack

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US leaders grind out growth in 2013 despite ‘anaemic economy’

Despite having to contend with what Latham & Watkins’ outgoing global chairman Bob Dell described to Legal Business as a still ‘anaemic economy’ last year, early results among the US law firms to disclose their 2013 financials are solid, with many forecasting a return to substantive growth this year.

Dechert was among the first to reveal its financials for 2013, with revenue up by 6.6% to $777.2m from $729m.

Legal Business

Revolving Doors: DAC Beachcroft, RPC, K&L Gates and Reed Smith boost London offering with lateral hires

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London has been the focus of a series of hires for top national, City and US firms including DAC Beachcroft, RPC, K&L Gates and Reed Smith, as Dechert has also boosted its Moscow offering with a hire of a partner from Hogan Lovells.

Adrian Williams joins DAC Beachcroft’s corporate insurance team from reinsurance giant Swiss Re, where he was general counsel for Europe, Middle East and Africa, and was based in Zurich. The firm has also bolstered its real estate team in London with the hire of Nathan East from Hempsons. East specialises in advising medical professionals, care providers and the NHS.

‘We are delighted to welcome Nathan to the firm. His appointment adds an important extra dimension to our existing health practice with his considerable experience of advising GPs,’ said Eve Gregory, head of the firm’s health real estate team.

Elsewhere, 1,548-lawyer firm Reed Smith continues to grow its London office with the appointment of Eoin O’Shea as a partner in the firm’s global regulatory disputes practice based in London. Joining from Lawrence Graham (LG), O’Shea is known for his disputes work which includes economic crime, corporate crime, fraud and corruption disputes and investigations. He spent six years at the commercial bar and another six years with Simmons & Simmons before joining LG. O’Shea has led on litigation for major pharmaceutical companies relating to blackmail and other crimes.

‘Eoin’s reputation and his broad experience, across our key industry sectors and geographies, will ensure that Reed Smith is even better placed to assist clients facing the rapidly evolving regulatory landscape,’ said Richard Spafford (pictured), head of Reed Smith’s commercial disputes group for Europe and the Middle East.

‘O’Shea told Legal Business: ‘The reason I joined Reed Smith is because they are very strong in litigation worldwide. For my specialism in bribery and corruption it helps to have a strong group in the US.’

Reed Smith hired banking and finance partner Claude Brown from Clifford Chance in April this year.

Meanwhile, K&L Gates, which dropped three places in this year’s Global 100 to 25 with a turnover of $1,06bn, has added Anthony Fine as a partner in its energy, infrastructure and resources (EIR) practice in London. Fine joins from White & Case where he was head of the PPP/PFI practice in the firm’s energy, infrastructure, project and asset finance group.

‘With his track record in projects and infrastructure and his significant market connections, I am delighted that Anthony has joined our growing practice,’ said Tony Griffiths, London managing partner of K&L Gates.

Also growing in London with a number of recent heavyweight hires is RPC, which has brought in partner Sukh Ahark from Davenport Lyons, where he was head of banking and finance.

Ahark spent eight years at legacy Herbert Smith and has also worked for Pinsent Masons and Hammonds. Recent mandates he has advised on include luxury building company Harrison Varma Limited on the financing of a development of 20 new residential apartments, where the financing was provided by Barclays and Coutts.

‘We’re very pleased to have Sukh on board. His practice neatly complements our existing broad-based corporate offering, and his outgoing, unfussy and approachable style of doing business fits very well with how we operate at RPC,’ said Jonathan Watmough, managing partner of RPC.

Sukh’s appointment follows RPC’s hire of a three partner corporate team from Wragge & Co at the start of the year, consisting of former managing partner Richard Haywood, the head of corporate Maurice Dwyer, and David Marshall, a private equity specialist.

In Russia meanwhile, global top 50 US firm Dechert has recruited Taras Oksyuk from Hogan Lovells where he was head of real estate to lead the firm’s real estate and construction practice in Moscow. Deals that Oksyuk has advised on include leading Russian property fund, O1 Properties, on its $500m sale of a business centre in Moscow to Kaspersky lab.

Laura Brank, Moscow managing partner and head of Dechert’s Russia & CIS practice said: ‘We are very pleased that Taras is joining us. He is a highly regarded Russian real estate and construction expert who will bring a wealth of experience to our corporate and real estate practices in Moscow.’

david.stevenson@legalease.co.uk

 

To be included in future Revolving Doors round-ups please send your announcements to caroline.hill@legalease.co.uk

Legal Business

Revolving Doors: Olswang, Macfarlanes, Dechert, DWF and Weightmans in strategic partner hires

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Macfarlanes and Dechert have made key strategic hires in the past few days while top 35, 382-lawyer UK firm Olswang has bolstered its City tax practice with the arrival of partner Andrew Quale from Eversheds.

Specialising in employee incentives and rewards, Quale has experience of advising multinational companies on the implementation of global incentive plans.

‘Andrew has already demonstrated an ability to build and develop a successful share schemes practice and team, despite a severe downturn in corporate work in the last few years,’ said Mark Joscelyne, head of tax at Olswang. The firm last week revealed a rise in revenue of 3% while profits per equity partner dropped by 4%.

This is the second partner Eversheds has lost this week, after it was announced earlier this week that equity capital markets head Neil Matthews is leaving to join Field Fisher Waterhouse in August.

Elsewhere, 289-lawyer top 35 UK firm Macfarlanes bucked the trend towards US firms tapping the UK’s finest with the hire of Shearman & Sterling real estate partner, Clare Breeze.

Breeze, whose clients include developers and investors such as Stanhope, AIG and Argent Estates, is Macfarlanes second hire from a US firm this year after taking on Akin Gump London investment funds partner Simon Thomas in February.

‘We are delighted to welcome Clare to a firm and practice area that are both thriving in these difficult markets. Real estate is a key area for us and we believe that significant opportunities exist for continued growth,’ said Macfarlanes senior partner Charles Martin.

Meanwhile, top 50 Global 100 US firm Dechert has bolstered its corporate practice in Paris with the hire of Matthieu Grollemund from fellow US firm Orrick Herrington & Suttcliffe.

A private equity specialist, Grollemund’s work includes CVC’s high profile Formula One IPO in which he has represented the Fédération Internationale de l’Automobile. His clients include a range of private equity houses and hedge funds including Wendel, 3i France and Fondations Capital and US/UK based firms including Bessemer, Accel and Index.

‘We are delighted to welcome Matthieu, who will allow us to expand our corporate practice and meet the current needs of our French and foreign clients both on inbound and outbound transactions,’ said Alain Decombe, managing partner of Dechert’s Paris office.

“Matthieu’s private equity experience is very complimentary to that of our global corporate team, which should result in additional practice synergies across Dechert’s international network,” said Henry Nassau, chair of Dechert’s global corporate practice.

In other news, acquisitive DWF, which last week reported a rise in turnover of 84% to £188m, has bolstered its corporate practice in Birmingham with the appointment of Squire Sanders partner Christian Lowis. His arrival brings DWF’s corporate offering to over 100 fee earners, with Lowis himself being a public company specialist. He has experience in M&A, disposals, takeovers and corporate governance.

‘As a team providing highly valued counsel to some of Britain’s biggest businesses, it is imperative that we continue to recruit only the best to our ranks,’ said Stephen Houston, national head of corporate at DWF.

The appointment of Lowis comes after DWF confirmed a redundancy consultation at the end of last month affecting up to 80 roles across Manchester, Coventry, Teeside and London.

Having revealed a rather more modest but respectable turnover increase of 6.4% this year, UK top 50 Weightmans has continued its run of lateral hires with the appointment of construction partner Tim Mould in the firm’s London office. Mould was a founding partner of boutique firm Hannah & Mould and specialises in complex construction disputes both in the UK and abroad.

‘We are delighted that Tim is joining the firm. He is a high calibre lawyer and true specialist in his field and brings a wealth of experience in both domestic and international work,’ said Charles Tomlinson, national head of construction and engineering at Weightmans.

david.stevenson@legalease.co.uk

 

Send your lateral hire announcements to caroline.hill@legalease.co.uk

Legal Business

Rival firms benefit from imminent Dewey collapse in City

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With troubled US firm Dewey & LeBoeuf on the brink of collapse, a number of firms have already stepped in to boost their City offerings by providing homes to small groups of partners. Twenty-four of the firm’s 33 London partners had plans to leave the firm at press time.

Morgan, Lewis & Bockius has emerged as the most acquisitive firm in London, taking six former Dewey partners in the capital, including its former London managing partner Peter Sharp.