Legal Business

Revolving doors: Simmons appoints CC capital markets veteran as firms boost London ranks

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Strategic recruitment Clifford ChanceSimmons & Simmons

The arrival of July marked a heightened pace of lateral hires by UK firms boosting their London bases. Simmons & Simmons recruited to its corporate team, while Dentons, Watson Farley & Williams (WFW), RPC and PwC also appointed key new partners.

Chris Walton has moved to Simmons & Simmons’ corporate team in London, moving from Clifford Chance (CC). Walton, who joins after 16 years at CC’s London office, is a capital markets partner experienced in representing major US and international banking firms which act as underwriters in private equity offerings.

Simmons’ international head of corporate and commercial, Mark Curtis, said that Walton will play a ‘key role’ in the continued growth of the firm’s London capital markets practice. He  joins Simmons following similar capital market moves earlier this year, by Jonathan Mellor and Simon Ovenden.

Dentons has also added to its London team, hiring Alex Tostevin as a tax partner from Weil Gotshal & Manges. He is experienced advising clients across the real estate, infrastructure, financial services, energy and technology tax sectors.

Dentons tax partner Alex Thomas said that Tostevin’s experience and international client-base will help the firm deal with incoming tax initiatives such as the Organisation for Economic Co-operation and Development’s (OECD) erosion and profit shifting (BEPS) strategy. These initiatives will generate ‘vast amounts of work’, Thomas added.

WFW has also appointed several partners to its London office, bringing in corporate partner Colin Graham from Orrick, Herrington & Sutcliffe and transport partner Louise Mor from White & Case.

Graham has 18 years’ experience of advising on cross-border issues in the energy and power sectors, focusing predominantly on M&A transactions and project developments.

Mor, who joins WFW on 10 July 2017, is specialised in rail, aviation and equipment financing. Mor also has an international client-base consisting of European and US lenders as well as private entities worldwide.

Big Four accountancy firm PwC has expanded its pensions legal team with the hire of Ashurst’s pensions head Marcus Fink.

Fink has 18 years’ experience of advising clients on pension scheme reorganisations and mergers, and at PwC he will advise companies on their investment funding strategies.

Head of PwC’s pensions legal practice, Oliver Reece, commented: ‘Our ability to offer clients a broad suite of pensions advice from right across PwC helps us stand out from the crowd. We’ve spent time building the expertise and skills to meet the needs of our clients, and Marcus is an important addition to the team.’

Elsewhere, RPC has brought in Penningtons Manches’ technology and data partner Jon Bartley. Bartley, who was co-head of Penningtons Manches data team, advises clients on data protection matters.

tom.baker@legalease.co.uk

Legal Business

Revolving doors: Jury O’Shea expands in London, Simmons in Frankfurt, HSF hires in Dubai

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Strategic recruitment Herbert Smith FreehillsJury O'SheaSimmons & Simmons

With a broad set of hires towards the end of June, Jury O’Shea hired a former Stewarts commercial litigation partner, Simmons & Simmons added to its Frankfurt financial markets team and Herbert Smith Freehills bolstered its Dubai corporate group.

Daniel Loblowitz has left Stewarts Law to join property firm Jury O’Shea as a commercial litigation partner. Loblowitz told Legal Business that the move was instigated by a desire to build his own commercial litigation practice, and described Jury O’Shea as ‘the perfect platform.’

Loblowitz’ expertise covers a broad range of commercial litigation, often on cross-border disputes involving banks, shareholders and private clients, and on significant fraud cases.

Simmons & Simmons hired financial markets partner Benedikt Weiser from Dechert, splitting his time between its Luxembourg and Frankfurt offices.

Weiser specialises in structuring private equity, real estate, infrastructure and debt funds for institutional investors, with particular expertise in German investment law and insurance regulatory law.

Simmons’ head of financial markets in Germany Heiko Stoll said: ‘Our sector focus means we are constantly thinking about what changes are going to affect our clients, and how we can innovate to respond to these client needs. The arrival of Benedikt [Weiser] reinforces this commitment to our clients and I look forward to working with him’.

Simmons’ global head of financial markets Jonathan Hammond also said that ‘despite uncertainty surrounding Brexit, our global financial markets practice has had a strong year’.

Meanwhile, HSF hired corporate partner Haitham Hawashin from Simmons in Dubai. Hawashin is experienced in joint ventures, private equity, cross-border M&A and debt & equity capital markets transactions. His experience includes sectors including asset management & investment funds, financial institutions, TMT, real estate, energy/infrastructure and utilities.

Hawashin’s has recently advised Abu Dhabi Financial Group, Abu Dhabi National Chemicals Company and lenders such as International Finance Corporation, European Investment Bank and Eksport Kredit Fonden.

HSF global corporate head Scott Cochrane said the firm is committed to deepening its relationship with key clients and targets in the region. ‘Bringing Haitham on board will help greatly with this. Building our capability to service clients both in local markets and internationally is a key element of our strategy and Haitham’s recruitment will strengthen this capability further,’ he added.

georgiana.tudor@legalease.co.uk

Legal Business

‘A number of improvements’: Simmons leads the City pack in credible form with revenues up £21m

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Financial results 2017 Simmons & Simmons

With City law firms braced for Brexit-related shocks, the first 2016/17 results from a major London practice will ease Square Mile nerves with Simmons & Simmons today (8 June) confirming a 7% hike in revenues and an emphatic rise in partner profits.

Simmons saw revenues up £21m from £295m to £316m, a substantial improvement on its 2015/16 results, when it barely grew its top line. Profits per equity partner (PEP) increased 9% to £635,000, up from £585,000 the year before, while net profits also climbed 12% over the year.

Simmons managing partner Jeremy Hoyland (pictured) told Legal Business that growth was driven by its Middle East and continental Europe practices. He also said that contentious practices like litigation and employment had expanded, which he described as ‘a continuation of a theme we have seen for years’.

‘We have made a number of improvements. Also, I like to think the legal market hasn’t grown by 7%, so we have taken some market share. I hope our strategy of building on our strengths is paying dividends.’

The results come amid a year of sustained investment for the 900-lawyer firm, which has made 28 lateral partner hires over the last 15 months.

‘We opened the Luxembourg office with five partners just before the start of the financial year, so this is covered in these financials, and we obtained the joint law venture for Singapore late last year,’ added Hoyland.

Hoyland said that the firm was currently gauging the impact of the Brexit vote on its core City practice, which has traditionally been geared towards finance clients, and ‘definitely undertaking some contingency planning’. Simmons made a series of redundancies last year in its banking and real estate practices in the wake of the Brexit referendum result last June.

‘We will use the new financial year to identify opportunities from clients, whether this involves work in restructuring, regulatory, corporate or employment in the short term,’ concluded Hoyland.

Despite its expansive form, Simmons suffered a number of senior exits last year, including four partners from its profitable intellectual property (IP) practice to Allen & Overy. Hoyland noted that the firm has promoted and hired in IP in response, including hiring Olswang heavyweight Michael Burdon. The firm also recently voted in changes to head off team exits.

Though Simmons’ performance has been outpaced by a number of London-centric mid-tiers such as Osborne Clarke (OC) and Fieldfisher, the result will be viewed as a credible run for a finance-heavy institution operating in turbulent markets. OC increased its revenues by 12% to €245.1m, while UK revenues rose 7% to £121m. Fieldfisher announced a 34% increase in turnover for 2016/17, from £121.5m to £165m.

georgiana.tudor@legalease.co.uk

Legal Business

Simmons amends partnership deed following A&O departures

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Financial management Simmons & Simmons

While Herbert Smith Freehills became embroiled in a very public court battle over a team defection to White & Case in Australia earlier this year, Simmons & Simmons has quietly amended its partnership deed following a group exit to Allen & Overy (A&O) in 2016.

In the space of four months from last summer, Simmons lost four intellectual property (IP) partners to A&O, including highly-regarded patent specialist Marjan Noor in June, followed by London IP head Marc Döring in August, and Mark Heaney and David Stone in September.

Legal Business

Simmons amends partnership deed following A&O departures

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Financial management Simmons & Simmons

While Herbert Smith Freehills became embroiled in a very public court battle over a team defection to White & Case in Australia earlier this year, Simmons & Simmons has quietly amended its partnership deed following a group exit to Allen & Overy (A&O) in 2016.

In the space of four months from last summer, Simmons lost four intellectual property (IP) partners to A&O, including highly-regarded patent specialist Marjan Noor in June, followed by London IP head Marc Döring in August, and Mark Heaney and David Stone in September.

Legal Business

‘Common business sense’ – Simmons amends partnership deed to block team exits following A&O departures

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Partnership Simmons & Simmons

While Herbert Smith Freehills became embroiled in a very public court battle over a team defection to White & Case in Australia earlier this year, Simmons & Simmons has quietly amended its partnership deed following a group exit to Allen & Overy (A&O) in 2016.

In the space of four months from last summer, Simmons lost four intellectual property (IP) partners to A&O, including highly-regarded patent specialist Marjan Noor in June, followed by London IP head Marc Döring in August, and Mark Heaney and David Stone in September.

The firm reacted by trying to rush through three amendments to its partnership deed. While Simmons refused to discuss the intricacies of the provisions, it confirmed that the partnership rejected the move during a consultation process.

Following further consultation, Simmons’ management brought a narrower proposal relating to team moves back in front of the partnership conference in Lisbon last October. This time, it was voted through.

Under the new provisions, partners are prohibited from taking a team with them for a set period after leaving the firm. However, the amendments also include a provision allowing the senior partner to negotiate a payment from the new firm in exchange for any team moves.

Simmons senior partner Colin Passmore said: ‘Yes we have had a review, including a debate with partners around our covenants and what happens when partners leave, in terms of their obligations. Making sure covenants are fit for purpose in a modern world where teams are sought after is important and it makes business common sense.’

One former Simmons partner commented: ‘Passmore is not in the business of forcing people to stay. But the firm has lost all that revenue from the A&O leavers in one of its most profitable practice areas. However, I think these sort of changes are negative and it’s wrong to spend more time on its own deed than on improving profitability and convincing good people to stay.’

In contrast, one leader at a rival top 10 City practice backed the move observing: ‘The underlying philosophy is that people make promises when they become partners and they should keep them. Partners, unlike employees, have a duty to protect the goodwill and confidential information of the firm.’

georgiana.tudor@legalease.co.uk

Legal Business

‘He always puts the firm first’: Passmore wins Simmons senior partner re-election

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Leadership Simmons & Simmons

Incumbent defeats Asia head Paul Li to win third term in leadership

A leadership contest at Simmons & Simmons has ended with senior partner Colin Passmore (pictured) re-elected for a third term, after six years in the role.

Legal Business

More for less: Simmons to double fee earners at low-cost base by 2019

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Innovation Simmons & Simmons

Simmons & Simmons plans to double its fee earner count in Bristol over the next two years to reach 100 fee-earners, as it has grown its partner count to ten today with its latest hire, pensions partner James Dean from TLT. 

Dean joined TLT as partner in 2012, after being a senior associate at Osborne Clarke, and he specialises in pension scheme investments, corporate restructurings, M&A and public sector pensions.

Earlier this month, funds partner Mahrie Webb took on the role of head of Bristol office. She specialises in investment funds and financial services regulatory work.

Simmons’ Bristol office opened with 12 fee earners and five business services staff in 2012, and currently has 55 fee earners and 99 other staff, with over 25 other roles having been filled or are actively being recruited as at May 2017.

The Bristol office has grown from four practices in 2012 (projects, real estate, banking and dispute resolution) and has since added funds, capital markets, employment, corporate, tax, information, communications and technology (ICT) and, most recently, insurance capabilities.

A Simmons spokesperson said: ‘We continue to grow in Bristol. The objective is to have 100 fee-earners there by April 2019. The arrival of James Dean expands the services we offer from Bristol to include pensions.

‘This growth can also help us where we have small teams in international offices as these additional resources available in Bristol may help to staff matters that we would otherwise not be able to pitch for.’

Last month, Simmons re-elected Colin Passmore as senior partner for a third term. Litigation partner Passmore was first voted into the senior partner role in 2011, was then re-elected two years later and his third four-year term will begin in August 2017.

georgiana.tudor@legalease.co.uk

Legal Business

Partner promotions: Bird & Bird and Simmons both announce increased rounds

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Partnership promotions Bird & BirdSimmons & Simmons

Simmons & Simmons and Bird & Bird have both announced their partnership promotion rounds for 2017, with both firms seeing an overall increase in numbers over last year’s figures.

Simmons made up 12 associates this year, nearly doubling last year’s number of seven. Effective 1 May 2017, Simmons has promoted in a variety of practice areas.

In IP, the firm has made up Andrew Hutchinson, Darren Meale and Mattie de Koning. Meale and Hutchinson will join the firm’s London IP practice while de Koning has been made up in Amsterdam. Lucian Firth and Catherine Weeks have both been promoted to the firm’s financial services department in London, with professional negligence specialist Felix Zimmerman joining Simmons’ commercial litigation team in the City.

Completing Simmons’ London line-up is Lawrence Brown and Eucharia Bragg. Bragg, who joined Simmons in 2004, has been made up in capital markets and Brown has been promoted in information, communications and technology.

Simmons senior partner Colin Passmore (pictured) commented: ‘I am really pleased to welcome this ambitious, committed and collegiate group of new partners. The firm and its clients will benefit from the expertise they offer across their specialisms as we continue to build on our strengths.’

Bird & Bird also increased its promotions, making up 16 this year, compared to last year’s nine. Of the new partners, 25% of them are female. All the promotions are effective from 1 May 2017, except Shing Lo, who was appointed in November last year.

Lo was promoted to Bird & Bird’s London corporate practice, and is joined in the City by Zoe Feller, Craig Giles, Ewan Grist, Bryony Hurst and Gabriel Voisin. Hurst has been promoted in dispute resolution, while Voisin has been made up in data protection. Feller is a new tax partner, while Giles has been promoted to Bird & Bird’s London commercial team. Grist has been made up in IP.

Bird & Bird chief executive David Kerr commented: ‘My congratulations to all our new partners. Each one of them has an important role to play in helping us achieve our vision of being the number one law firm acting for organisations being changed by technology and the digital world.’

tom.baker@legalease.co.uk

Simmons & Simmons partner promotions in full:

Eucharia Bragg, capital markets, London

Lawrence Brown, information, communications and technology, London

Lucian Firth, financial services, London

Andrew Hutchinson, IP, London

Mattie de Koning, IP, Amsterdam

Darren Meale, IP, London

Raza Rizvi, corporate and commercial, Dubai

Jingyuan Shi, corporate and commercial, Hong Kong

Juan Sosa Pons-Sorolla, tax, Madrid

Matthias Wagner, real estate, Frankfurt

Catherine Weeks, financial services, London

Felix Zimmerman, commercial litigation, London

Bird & Bird partner promotions in full:

Gabriel Voisin, data protection, London

Bryony Hurst, dispute resolution, London

Ewan Grist, IP, London

Craig Giles, commercial, London

Shing Lo, corporate, London

Zoe Feller, tax, London

Matthias Spilker, commercial, Germany

Christopher Maierhoefer, IP, Germany

Lennart Schuessler, data protection/IT, Germany

Kai Kerger, corporate, Germany

Janneke Kohlen, commercial, Netherlands

Paul Waszink, commercial, Netherlands

Miguel Pastur, employment, Spain

Jose Luis Lorente, financial services, Spain

Troy Gurnett, IP, Australia

Mikko Ahonen, corporate, Finland

Legal Business

Simmons lands Olswang heavyweight Michael Burdon in senior exit ahead of triple merger

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Litigation CMS UKSimmons & Simmons

Ahead of his firm’s triple merger with Nabarro and CMS Cameron McKenna, Olswang veteran Michael Burdon is to leave for Simmons & Simmons to reinforce the firm’s intellectual property (IP) offering.

Burdon will join on 2 May, one day after the triple merger’s live date. While at Olswang he was head of European patent litigation and a partner in the firm’s IP group.

Burdon was the interim chief executive of Olswang following the sudden departure of David Stewart in October 2015. He was an elected board member at the firm and previously head of the firm’s commercial group. Burdon joined Olswang in 2002, having previously been a partner at Eversheds.

His exit will come as a blow to Olswang as it loses lawyers from one of its core practices ahead of the merger with Camerons and Nabarro. Last week, it was announced that Dentons would be taking on a team of four patent lawyers alongside partner Justin Hill from Olswang, as well as a trainee and two support staff to launch a UK patents practice.

Simmons head of IP Rowan Freeland said: ‘Michael’s arrival adds bench strength to our IP team who continue to provide cutting-edge advice for clients. He is a highly skilled patent litigator and a really nice guy, and I look forward to working with him.’

Simmons has already added three new partners since the start of the year, most recently taking on Emily Monstiriotis , former head of construction disputes at Bond Dickinson. The firm has also bulked out its capital markets offering with the addition of Simon Ovenden from Cleary Gottlieb Steen & Hamilton, as of 1 May, and Jonathan Mellor from Allen & Overy (A&O).

The hire comes after Simmons lost four IP partners which left for A&O last year. The Magic Circle firm added Marc Döring, Marjan Noor, Mark Heaney and David Stone, who joined A&O’s IP team led by Nicola Dagg.

matthew.field@legalease.co.uk

Read more in: ‘Sale of the century – Has Camerons picked up a bargain with Olswang and Nabarro?’