Legal Business

DLA Piper ramps up French offering with boutique addition

DLA Piper’s recent takeover of French corporate boutique Frieh Bouhenic is the most significant development in a spate of activity involving UK-based international firms in Paris at the end of the summer.

The international giant officially joined forces with the corporate firm on 1 October. Eleven-partner Frieh Bouhenic is ranked in the second tier for private equity in The Legal 500 EMEA, with a particular reputation for leveraged buyout work. Recent highlights include advising the consortium comprising Clayton, Dubilier & Rice, AXA Private Equity and Caisse de dépôt et placement du Québec on the acquisition of SPIE.

Legal Business

Magic Circle sees revenues up after muted financial year

Turnover at Magic Circle firms rose by a modest 2.6% this year, with the UK’s five Global Elite firms pulling in over £5.2bn of fees and £4.2bn worth of profit in the 2011/12 financial year.

As the UK’s financial reporting season kicks off, Allen & Overy emerges as one of the top performers after another strong year that saw turnover climb by 5% to reach £1.18bn, up from £1.12bn in 2010/11. The firm is one of the best performing in the group over the past five years, growing revenues by an average of 3% each year since 2008. Much of that can be attributed to the firm’s network in emerging markets, with around 15% of A&O’s lawyers now based in Asia.

Legal Business

Australia tempts yet another major international player

Linklaters has joined the ranks of its Magic Circle peers by moving into the Australian market via an alliance with Allens Arthur Robinson (AAR).

The alliance, which went through on 1 May, was planned over a year ago, according to a source close to the firm. AAR, which had operated an exclusive relationship with Slaughter and May, is viewed by many as one of the best in the region.

Legal Business

Brazilian Bar expected to vote to end foreign associations

With the International Relations Committee of the Brazilian Bar Association (OAB) due to vote on suggested changes to the country’s Bar rules, LB has obtained a copy of the proposals up for discussion.

Drafted by attorney Carlos Roberto Siqueira Castro, partner in Rio de Janeiro-headquartered litigation outfit Siqueira Castro Advogados, the report pushes for a major reinforcement of the existing rules governing international law firms practising in the country.

Legal Business

Magic Circle reigns but cracks are there

Magic Circle reigns but cracks are there

In the same way the sports media has speculated long and hard these past couple of years on the ‘demise’ of Tiger Woods, much has also been said about the Magic Circle also losing its aura of invincibility since the global financial crisis.

The Magic Circle’s relentless pursuit of domination has inspired awe over the last two decades but at the same time has drawn brickbats when things have gone awry. It is all too easy to build something up only to knock it down.

Legal Business

Management speak

Management speak

In just under two years Simon Davies has restructured Linklaters’ partnership, cut lawyers and offices and ridden the financial crisis. Time for a new strategy

Simon Davies sees his job in simple terms. ‘The most important task is developing the strategy and then implementing it,’ says Linklaters’ managing partner. Since April of this year he’s been putting a new strategy in place. The vision set out by his predecessor Tony Angel – to be the leading global law firm – hasn’t changed. It’s the means of getting there that the new plan is concerned with.

The two-year strategy places particular emphasis on client relationships and the firm’s people. Just as Davies sees his role, it’s hardly rocket science. But since he officially took over from Angel in January 2008 aged just 40 Davies and his management team have been forced to make a series of tough strategic calls.