Legal Business

Revolving doors: Ince appoints London managing partner duo as City players hire globally

Revolving doors: Ince appoints London managing partner duo as City players hire globally

After an eventful few months following its acquisition by Gordon Dadds, Ince has put down some roots with the appointment of Nick Goldstone and Michael Volikas as joint managing partners of the London office.

The move came after Gordon Dadds last month posted a 69% revenue hike from to £52.6m and a 73% rise in profit to £15.2m on the back of its £43m acquisition of Ince.

Ince’s former head of dispute resolution, Goldstone specialises in media-related disputes, reputation management and human rights. Volikas was previously global managing partner for the Ince & Co shipping group where he acted mainly on dispute resolution matters.

Goldstone told Legal Business: ‘We intend to be one of the go-to firms, not just for law, but for professional advice. We think we offer a fairly unique offering and intend to keep growing our sectors.’

He said he intends to move the firm forward and work through all the opportunities that have been created by last year’s merger. The firm aims to build out its core areas of strength in shipping, energy and insurance as well as its corporate, commercial and property sectors.

Goldstone is confident the current political and economic climate will bring in more work. ‘So far as the Strait of Hormuz is concerned and the trade war that’s potentially building up between the United States, China and the sanction issues with Iran – these create problems and opportunities. We are well-equipped to help our existing client base and new clients deal with these issues.’ Goldstone said.

Adrian Biles, the chief executive of both Ince and Gordon Dadds, will focus on the firm’s international outlook.

Meanwhile in Frankfurt, DLA Piper bolstered its tax practice with the hire of Ulf Andresen from PwC where he headed the Frankfurt transfer pricing group and the German financial services transfer pricing group.

Andresen has experience in structuring and implementing cross-border activities, evaluating tax accounting impact and defending these structures in audits. The move is part of DLA’s plan to expand its capabilities in transfer pricing, an area of law which is becoming increasingly important due to changes in the international tax landscape.

Co-managing partner Konrad Rohde told Legal Business: ‘We have a transfer pricing practice already in the UK and China. We’re very strong in terms of transfer pricing in the US and we also have capabilities in Italy. We have a lot of clients that do international reorganisations and transfer pricing is a huge driver for that. We also see a lot of opportunities to interface with other areas we practice in, in particular intellectual property, corporate and also white collar crime.’

‘We think that it will help us grow the practice but also give us an edge in comparison to other firms. If you look at law firms in Germany, very few typically cover transfer pricing. This will really give us a good footprint in the German legal market’ Rohde added.

Elsewhere, in Hong Kong, Allen & Overy appointed restructuring lawyer Ian Chapman to the partnership and its Asia Pa00cific restructuring and recovery group. Chapman has over 30 years of experience advising publicly-owned and private companies on complex and high profile restructurings and insolvencies in Asia.

Meanwhile, Burness Paull, has enhanced its tech sector capabilities with the hire of IP, commercial and competition partner Colin Miller from DWF.  He has acted for clients including C-Trip/Skyscanner, Expedia Group, Zoopla, uSwitch and Administrate, as well as the Oil & Gas Technology Centre.

Finally in China, Linklaters’ Shanghai free trade zone joint operation partner Zhao Sheng has hired Vivian Cao to its Beijing competition practice and corporate M&A lawyer Colette Pan to it Shanghai office. Cao has international and domestic competition law experience while Pan specialises in China-facing financial institution, tech and fintech M&A and financial regulation. Both partners join from Fangda Partners and are PRC and New York State qualified.

muna.abdi@legalease.co.uk

Legal Business

Ince merger pays dividends for Gordon Dadds as revenue and profit skyrocket post acquisition

Ince merger pays dividends for Gordon Dadds as revenue and profit skyrocket post acquisition

Gordon Dadds has posted a pace-setting set of results that have seen revenue and profit soar thanks to the addition of Ince & Co last year.

The listed entity, Gordon Dadds Group Plc, saw revenue boosted 69% from £31.2m to £52.6m following its £43m acquisition of Ince. It is a positive set of results that come after the business suffered a share price drop to an all-time low only three months ago.

Profits increased by 73% to £15.2m from £8.8m and earnings per share saw a 79% surge as dividend per share increased 50%. The firm has also reduced debt from £8.4m to £2.9m. The business reported a non-recurring cost of £14.3m for acquisitions, including Ince’s Chinese business at the start of the year, which marked the completion of Ince’s integration.

Chief executive Adrian Biles (pictured) told Legal Business: ‘All of our areas have seen plenty of activity. There’s an awful lot happening in the Strait of Hormuz and depending on what happens that obviously might well affect the shipping market. We’re looking to capitalise on those areas in which we are already a market or world-leader and offer more. Since we put the two businesses together, we’ve greatly increased the range of services that we offer to our clients.’

The group operates from eight jurisdictions in Europe, the Middle East and Asia and recently opened a London office in the Lloyds insurance market to improve its insurance offering. The listed firm reported no partner or client losses during and since its acquisition period and announced the lateral hires of three partners to its Hong Kong office.

muna.abdi@legalease.co.uk

Legal Business

Ince Gordon Dadds sees share price fall following critical administrator report

Ince Gordon Dadds sees share price fall following critical administrator report

Merger vital to saving ‘unmanageable’ Ince business, says Quantuma

Newly-merged listed firm Ince Gordon Dadds saw its share price dip to an all-time low of 130p in March, following a damning creditor’s report from administrator Quantuma on the legacy Ince & Co business.