Legal Business

Mishcon picks consultancy duo to lead strategy review as firm examines pay structure

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Salaries Mishcon de Reya
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City firm Mishcon de Reya has appointed external consultant duo, Alan Hodgart and Robbie Cowan, to help shape its 10-year strategy plan. With the review already well underway, proposals tabled include its merit-based pay structure with an emphasis on altering the way it rewards origination points.

Having interviewed for the roles back in spring, the firm has brought in Hodgart as lead consultant, who previously served as managing director at Huron Consulting Group before launching his own consultancy in 2013. Also involved is strategist Cowan who has been a longstanding adviser to the firm for 20 years and currently works for Mishcon’s independent private client advisory business Mayfair Private.

In assessing the structure of its remuneration system, the aim is to see how the firm can more effectively reward lawyers on all levels for good behaviour and potentially incentivise team playing.

Also on the firm’s agenda is retaining extra office space ahead of its move to Africa House in Holborn this summer, and management are considering housing some of the firm’s operational staff at its current premises at Summit House or elsewhere with a view to developing training hubs.

Speaking to Legal Business, managing partner Kevin Gold (pictured) said: ‘As a business we view operations as very important functions. For instance human resources isn’t just about payroll, it’s about coaching, tutoring and mentoring. All operational functions will be converted into a centre of excellence so they will provide services to the firm and effectively act as training hubs.’

The firm is two years into its current three-year strategy, which involved investing heavily through the down-turn and building a distinct brand as an adviser bridging high-end private client work with an entrepreneur heavy corporate client base.

Now it is looking to build out its strategy to include a long-term 10-year vision, broken down into three-year plans with annual budgets. Gold previously told Legal Business the firm will continue to focus on private client and litigation work, and on the issue of internationalisation which is delegated to partners Adam Rose and Kasra Nouroozi.

sarah.downey@legalease.co.uk

Legal Business

Mishcon de Reya hires Enyo Law partner in ongoing disputes push

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Strategic recruitment Enyo LawMishcon de Reya
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After having left Addleshaw Goddard in 2010 to join high-end disputes boutique Enyo Law, partner Annabel Thomas (pictured) is returning to a full service LB100 firm and joining Mishcon de Reya’s disputes practice.

Thomas was part of the 11-strong team that departed Addleshaws in 2010, alongside founders Simon Twigden, Pietro Marino and Michael Green, at Enyo Law‘s launch. She specialises in commercial disputes, in particular civil fraud, and has worked on cross-border litigation, arbitration and mediation.

The Herbert Smith-trained lawyer’s major case work has included the high profile court battle between Russian oligarchs Boris Berezovsky and Roman Abramovich, a $6.5bn English contract law case. She has further acted in a London arbitration concerning a shareholders dispute in a Kazakhstan law firm, as well as acting for a company in relation to an ex parte worldwide freezing order, including successfully applying for the order to be discharged and for indemnity costs.

Commenting on the appointment, Kathryn Garbett, head of Mishcon de Reya’s fraud defence team, said: ‘Annabel is an experienced litigator with a strong background in civil fraud, competition law, partnership disputes and financial regulatory litigation.

‘Her experience – and her connections to the industry both in London and abroad – complements our growing Fraud Defence practice and we’re very much looking forward to welcoming her to the team.’

Her move to Mishcon is indicative of the firm’s strategy to boost its disputes offering. Last summer the firm recruited heavyweight former director of public prosecutions (DPP) Sir Keir Starmer QC as a part-time consultant in its business crime unit. Qualified as both barrister and solicitor, Starmer joined his former colleague Alison Levitt QC, the principal legal adviser to the DPP, who moved to Mishcon in April 2014 to head its business crime group.

Earlier this year, the firm’s managing partner Kevin Gold revealed to Legal Business the firm had kick-started its strategy review and would continue its focus on private client and litigation work as part of that.

Just weeks ago, the firm also made an effort to broaden its M&A and private equity capability with the hire of corporate partner Michael Nouril from Proskauer Rose.

tom.moore@legalease.co.uk, sarah.downey@legalease.co.uk

Legal Business

Building the team: Mishcon de Reya hires Proskauer corporate partner

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Strategic recruitment Mishcon de ReyaProskauer Rose
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In an effort to broaden its M&A and private equity capability, City firm Mishcon de Reya has today (16 April) announced the hire of corporate partner Michael Nouril from Proskauer Rose.

Nouril joined Proskauer in 2011 from Jones Day where he had served as partner-in-charge of the London office and head of the European private equity practice.

He specialises in multi-jurisdictional deals and other transactions including joint ventures, public bids, real estate asset-based deals, and seller auction processes. Nouril’s client roster includes private equity and hedge funds, quoted and non-quoted companies, management teams, entrepreneurs and family offices.

Previous private equity recruits by Mishcon includes partners Simon Sale and Nadim Meer from Dundas & Wilson in 2013.

The hire follows the firm kick-starting the process for its firmwide strategy and interviewing external consultants to help shape its vision. Revealed by Legal Business in March, managing partner Kevin Gold said the firm will maintain its focus on private client and litigation work, as well as the issue of internationalisation, of which the latter task is being delegated to partners Adam Rose and Kasra Nouroozi.

Commenting on the hire of Nouril, Mishcon’s corporate head Nick Davis commented: ‘[Nouril’s] practice is a mixture of mainstream M&A and private equity acting for mid-market private equity houses, fund managers, corporates and high net worth individuals, which fits in well with our strategy and strengths, particularly around private capital and ventures. His experience is exceptional and we look forward to welcoming him to the team.’

sarah.downey@legalease.co.uk

Legal Business

Q&A: Mishcon de Reya’s Kevin Gold talks peers, New York and international strategy

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Leadership Mishcon de Reya
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High-flying City firm Mishcon de Reya recently kicked off a review of its strategy, aiming to create a ten-year vision. Managing partner Kevin Gold, last month named Management Partner of the Year at the Legal Business Awards, talks to Sarah Downey about the firm’s future as a limited liability partnership, its Manhattan struggles and his leadership style.

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Legal Business

Partner promotions: Mishcon de Reya announces all-female partner round as firm appoints new chair

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Partnership promotions Mishcon de Reya
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Mishcon de Reya has today (30 March) announced a three-strong all-female partner promotions round for this year, as well as appointing real estate partner Philip Freedman QC to succeed current chair John Jackson.

The female trio includes litigator and sports lawyer Liz Ellen, commercial trial lawyer Victoria Pigott, and real estate litigator Emma Macintyre.

Mishcon de Reya managing partner Kevin Gold (pictured) said: ‘As we continue to develop our business we welcome these talented and hard-working individuals to our senior team and value their on-going contribution to the firm.’

The firm’s appointment of heavyweight real estate lawyer Freedman will take effect in April. He succeeds Jackson who became the firm’s non-solicitor chair in 1992 and the first non-solicitor to chair a London law firm. Jackson will now serve as chairman emeritus.

Both the promotions and chair appointment come during a period of structural change at the City firm, and this month Legal Business revealed it has kick-started the process for its firmwide strategy review and is currently interviewing external consultants to help shape its vision. This will involve maintaining its focus on private client and litigation work, as well as the issue of internationalisation, of which the latter task has been delegated to partners Adam Rose and Kasra Nouroozi.

It is further set to move to an all-equity partnership this autumn and convert to a limited liability partnership, following a vote made in early 2014. It further acquired an alternative business structure licence in February from the Solicitors Regulation Authority, a move that was prompted by bringing up to four key employees into the partnership.

sarah.downey@legalease.co.uk

Legal Business

OC, Mishcon, DLA Piper and CC major winners at 2015 Legal Business Awards

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Clifford ChanceMishcon de ReyaOsborne Clarke
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Osborne Clarke (OC), Mishcon de Reya and Clifford Chance (CC) were among the major winners at the 2015 Legal Business Awards, with DLA Piper global co-chair Sir Nigel Knowles handed a special one-off award for industry-defining achievement marking the 25th anniversary of Legal Business.

OC took the coveted Law Firm of the Year award thanks to a period of dramatic growth and assured strategic expansion, while Mishcon managing partner Kevin Gold was named Management Partner of the Year for his central role in supporting the emergence of Mishcon as one of the most distinctive and imaginative players in the UK market.

Knowles was cited for outstanding individual achievement for his central role in taking DLA Piper from its roots in the English regions to become one of the world’s largest law firms in a special award honouring the figure judged to have most defined the UK profession since Legal Business launched in 1990.

CC was a major winner in the practice awards, named as Finance Team of the Year for its work on the UK Treasury’s ground-breaking RMB3bn bond issue and also Restructuring Team of the Year for advising on the innovative workout of APCOA Group. Macfarlanes, meanwhile, secured the coveted Corporate Team of the Year award for its role on Verizon’s $130bn acquisition of Vodafone’s stake in Verizon Wireless.

Other major awards saw Vodafone general counsel Rosemary Martin named Lawyer of the Year, while the Royal Mail was named In-House Team of the Year. Ropes & Gray was the US Law Firm of the Year, with Brodies named as National/Regional Firm of the Year.

The awards were presented to more than 1,000 guests in a gala ceremony last night (24 March) hosted by distinguished broadcaster and journalist Jeremy Paxman. The event was preceded by a reception to mark the launch of this year’s GC Power List report.

This year saw the introduction of an external judging panel of distinguished industry figures. The panel comprised the following senior general counsel: Michael Shaw (Barclays); Andrew Whittaker (Lloyds Banking Group); Robert Ivens (Marks & Spencer); Adrian de Souza (Land Securities); Siobhan Moriarty (Diageo); Michael Herlihy (Smiths Group); Kirsty Cooper (Aviva); Claire Chapman (Daily Mail and General Trust) and Alison Kay (National Grid). The panel was completed by Jomati founder Tony Williams and Paul Gilbert of LBC Wise Counsel, as well as Alex Novarese and Mark McAteer from Legal Business.

Our April edition will include a full report on the night.

For more details click here. See #LBAwards2015 on twitter.

 

Legal Business Awards 2015 – The Winners

Simmons & Simmons – TMT Team of the Year

 

Clifford Chance – Restructuring Team of the Year

 

Cleary Gottlieb Steen & Hamilton – Competition Team of the Year

 

Hogan Lovells – Energy and Infrastructure Team of the Year

 

Weil, Gotshal & Manges – Dispute Resolution Team of the Year

 

Clifford Chance – Finance Team of the Year

 

Mills & Reeve – Private Client Team of the Year

 

DAC Beachcroft – Insurance Team of the Year

 

Macfarlanes – Corporate Team of the Year

 

Travers Smith – Private Equity Team of the Year

 

Wragge Lawrence Graham & Co – Real Estate Team of the Year

 

Wiggin – Boutique of the Year

 

Rosemary Martin, Vodafone – Lawyer of the Year

 

Reed Smith – CSR Programme of the Year

 

Garrigues – International Firm of the Year

 

Kumar Tewari, Lloyds Banking Group – Rising Star In-House Counsel of the Year

 

Royal Mail – In-House Team of the Year

 

Kevin Gold, Mishcon de Reya – Management Partner of the Year

 

Ropes & Gray – US Law Firm of the Year

 

DWF – Legal Innovator of the Year

 

Wragge Lawrence Graham & Co – Legal Technology Team of the Year

 

Brodies – National/Regional Firm of the Year

 

Sir Nigel Knowles – Outstanding Individual Achievement Award: 25 Years

 

Osborne Clarke – Law Firm of the Year

 

alex.novarese@legalease.co.uk

Legal Business

‘We have to find our own place’: Mishcon de Reya kicks off strategy review as it looks for 10-year plan

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Leadership Mishcon de Reya
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After surpassing revenue targets two years early last summer, high-flying City firm Mishcon de Reya has kick-started the process for its firmwide strategy review and is currently interviewing external consultants to help shape its vision.

The firm is two years into its current three-year strategy, which involved investing heavily through the down-turn and building a distinct brand as an adviser bridging high-end private client work with an entrepreneur heavy corporate client base. It’s clearly paid off so far, as the firm has enjoyed strong growth and in the summer hit its target of £100m in revenues by 2016, with 2013/14 turnover up 18% to £104.6m and profit per equity partner up by 16% to £975,000.

Speaking to Legal Business, managing partner Kevin Gold (pictured) said the firm’s upcoming ambitions take a more long-term view: ‘We’ve given ourselves one year … we’ll do it slightly differently, we’ll be looking at a more long term vision than a three-year plan, say a ten-year vision broken down into three-year plans with annual budgets.’

Gold said the plan will include maintaining its focus on private client and litigation work, as well as the issue of internationalisation, of which the latter task is being delegated to partners Adam Rose and Kasra Nouroozi.

Gold added: ‘As you get bigger, and we’re now one of the bigger London offices rather than an international firm, things take longer to shift. It’s much easier when you’re a £10m business to be robust and nifty but £100m plus takes longer. Three years comes very quickly. Historically a three year plan has been driven by factors or criteria such as revenue or profit per equity partner. A longer term vision is “where do I see myself in ten years’ time? What kind of firm do I want to be?” Given the stresses with consolidation or internationalisation and us being these maverick independents…we have to find our own place.’

Other major structural changes include the firm’s pending move to an all-equity partnership this autumn and conversion to a limited liability partnership, following a vote made in early 2014. It further became the latest firm to acquire an alternative business structure licence last month from the Solicitors Regulation Authority, a move that was prompted by bringing up to four key employees into the partnership, including chief operating officer Bambos Georgiou, business development director Elliot Moss and head of human resources Vanessa Dewhurst.

sarah.downey@legalease.co.uk

Legal Business

Mishcon gains ABS licence to include non-lawyers in partnership

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ABS Mishcon de Reya
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Mishcon de Reya has become the latest firm to acquire an alternative business structure (ABS) licence from the Solicitors Regulation Authority (SRA), a move that was prompted by bringing up to four key employees into the partnership.

Having applied for the licence last July, the firm was granted approval on 12 February and will become an ABS structure on 10 April.

Legal Business

Mishcon, Latham and OC up against City elite as shortlists announced for 2015 Legal Business Awards

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Latham & WatkinsMishcon de ReyaOsborne Clarke
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Clifford Chance (CC), Mishcon de Reya, Osborne Clarke and DLA Piper are among those vying to win prizes at what promises to be the largest-ever Legal Business Awards.

The firms are among those nominated as we unveil the shortlists today (9 March) for the awards ahead of the ceremony, which will be held on 24 March at the Grosvenor House Hotel in central London.

Mishcon and OC are joined by Latham & Watkins, Travers Smith, Macfarlanes and Watson Farley & Williams in contention for the biggest award of the night: Law Firm of the Year. Mishcon managing partner Kevin Gold is also up against OC’s Simon Beswick and Stephenson Harwood’s Sharon White as Management Partner of the Year.

CC, meanwhile, features heavily in the major practice awards, including Finance Team of the Year, where the firm is shortlisted alongside Allen & Overy, Herbert Smith Freehills (HSF), Norton Rose Fulbright, Reed Smith, Sidley Austin and Simmons & Simmons.

The shortlist for Corporate Team of the Year is Freshfields Bruckhaus Deringer, Covington & Burling, HSF, Linklaters, Macfarlanes, OC and Slaughter and May.

This year we introduce two new categories: Boutique of the Year and Legal Innovator. The former sees Candey, Curtis Davis Garrard, Signature Litigation, Volterra Fietta, Wiggin and Zyda Law compete, while the innovation shortlist is Berwin Leighton Paisner, CMS Cameron McKenna, DWF, Mishcon, Pinsent Masons and Wiggin.

Bluechip legal teams up for the main in-house award are AIG, Bank of America Merrill Lynch, Coca-Cola Enterprises, Royal Mail, SSE and Telefónica UK.

The night, which is being hosted by distinguished broadcaster Jeremy Paxman, is set to attract well over 1,000 guests and will be preceded by a reception to mark this year’s GC Power List report.

In a special award to mark the 25th anniversary of Legal Business, the magazine will also name a single individual who has made an outstanding contribution to the profession over that period.

In a further change this year, Legal Business has introduced an external judging panel to increase scrutiny. The distinguished panel of judges comprise a range of senior general counsel: Michael Shaw (Barclays); Andrew Whittaker (Lloyds Banking Group); Robert Ivens (Marks & Spencer); Adrian de Souza (Land Securities); Siobhan Moriarty (Diageo); Michael Herlihy (Smiths Group); Kirsty Cooper (Aviva); Claire Chapman (Daily Mail and General Trust) and Alison Kay (National Grid). Also on the panel, alongside editor-in-chief Alex Novarese and managing editor Mark McAteer, are Jomati founder Tony Williams and Paul Gilbert of LBC Wise Counsel.

alex.novarese@legalease.co.uk

The Legal Business Awards 2015 shortlists:


TMT Team of the Year

Bristows

Covington & Burling

Harbottle & Lewis

Royal Mail

RPC

Simmons & Simmons

Taylor Wessing

 

Restructuring Team of the Year

Allen & Overy

Cleary Gottlieb Steen & Hamilton

Clifford Chance

DLA Piper

Herbert Smith Freehills

Slaughter and May

 

Competition Team of the Year

Ashurst

Berwin Leighton Paisner

Cleary Gottlieb Steen & Hamilton

Freshfields Bruckhaus Deringer

King & Wood Mallesons

Shearman & Sterling

 

Energy and Infrastructure Team of the Year

Dentons

DLA Piper

Freshfields Bruckhaus Deringer

Herbert Smith Freehills

Hogan Lovells

Slaughter and May

 

Dispute Resolution Team of the Year

Eversheds

Freshfields Bruckhaus Deringer

Hausfeld

Mishcon de Reya

Weil, Gotshal & Manges

White & Case

Wilmer Cutler Pickering Hale and Dorr

 

Finance Team of the Year

Allen & Overy

Clifford Chance

Herbert Smith Freehills

Norton Rose Fulbright

Reed Smith

Sidley Austin

Simmons & Simmons

 

Private Client Team of the year

Addleshaw Goddard

Boodle Hatfield

Burges Salmon

Mills & Reeve

Taylor Wessing

Withers

 

Insurance Team of the Year

Ashurst

Clifford Chance

DAC Beachcroft

Hogan Lovells

Pinsent Masons

Simmons & Simmons

 

Corporate Team of the Year

Covington & Burling

Freshfields Bruckhaus Deringer

Herbert Smith Freehills

Linklaters

Macfarlanes

Osborne Clarke

Slaughter and May

 

Private Equity Team of the Year

Latham & Watkins

Linklaters

Shearman & Sterling

Travers Smith

Weil, Gotshal & Manges

 

Real Estate Team of the Year

Addleshaw Goddard

Ashurst

Baker & McKenzie

Clyde & Co

Hogan Lovells

K&L Gates

Wragge Lawrence Graham & Co

 

Boutique of the Year

Candey

Curtis Davis Garrard

Signature Litigation

Volterra Fietta

Wiggin

Zyda Law

 

Lawyer of the Year

Bob Dell, Latham & Watkins

Sir Nigel Knowles, DLA Piper

Rosemary Martin, Vodafone

Angus McBride, Kingsley Napley

 

CSR Programme of the Year

Allen & Overy

Baker & McKenzie

Clyde & Co

Dentons

Paul Hastings

Reed Smith

White & Case

 

International Firm of the Year

Garrigues

Goltsblat BLP

Integrites

Matheson

NCTM

Noerr

 

Rising Star In-House Counsel of the Year

Kent Dreadon, Telefónica UK

Martin Graham, Oaktree

Howard Landes, BG Group

Jenny Lowe, Aggregate Industries

Alice Marsden, Thomas Cook

Kumar Tewari, Lloyds Banking Group

 

In-House Team of the Year

AIG Europe

Bank of America Merrill Lynch

Coca-Cola Enterprises

Royal Mail

SSE

Telefónica UK

 

Management Partner of the Year

Simon Beswick, Osborne Clarke

Bill Drummond, Brodies

Kevin Gold, Mishcon de Reya

Bryan Hughes, Eversheds

Sharon White, Stephenson Harwood

 

US Law Firm of the Year

Gibson, Dunn & Crutcher

Jones Day

Morgan, Lewis & Bockius

Paul Hastings

Quinn Emanuel Urquhart & Sullivan

Ropes & Gray

Simpson Thacher & Bartlett

 

Legal Innovator of the Year

Berwin Leighton Paisner

CMS Cameron McKenna

DWF

Mishcon de Reya

Pinsent Masons

Wiggin

 

Legal Technology Team of the Year

Ashurst

Axiom

Keoghs

King & Wood Mallesons

Wragge Lawrence Graham & Co

 

National/Regional Firm of the Year

Bond Dickinson

Brodies

DWF

Foot Anstey

Mills & Reeve

Stevens & Bolton

TLT

 

Outstanding Individual Achievement – 25 Years

To be announced by Legal Business at the ceremony

 

Law Firm of the Year

Latham & Watkins

Macfarlanes

Mishcon de Reya

Osborne Clarke

Travers Smith

Watson Farley & Williams

Legal Business

Becoming a partner: Mishcon de Reya acquires ABS licence to include non-lawyers in partnership

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ABS Mishcon de Reya
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Mishcon de Reya has become the latest firm to acquire an alternative business structure (ABS) licence from the Solicitors Regulation Authority (SRA), a move that was prompted by bringing up to four key employees into the partnership.

Having applied for the licence last July, the firm was granted approval on 12 February and will become an ABS structure on 10 April. With over 300 fee earners, the firm made the decision to apply to bring key employees into the partnership who are currently part of the board or senior management team. This includes chief operating officer Bambos Georgiou, business development director Elliot Moss and head of human resources Vanessa Dewhurst.

Managing partner Kevin Gold (pictured) told Legal Business at the time of the application: ‘They are all regarded as senior partners anyway. Now the possibility exists for them to join the partnership we intend to invite them to join.’

Other proposed changes to the firm’s structure includes bringing all partners into the equity and converting to a limited liability partnership at the end of autumn this year. Following the conversion, the partners will contribute capital and it is likely that a band system will be put in place depending on the seniority of the junior equity partner. Having registered as an LLP in 2008, which has remained dormant, the firm had 65 fixed-share partners and 37 equity partners at the time of its application. By removing fixed-share partners, it will bring the firm in line with HMRC rules on partnership taxation.

Other firms lining up for an ABS licence included insurance specialist Kennedys which received approval from the SRA last year, allowing the firm to retain four non-lawyers as partners and the opportunity to partner with non-lawyer services.

sarah.downey@legalease.co.uk