The City offices of progressive US firms continue to set the tone for the London lateral recruitment market – a charge most recently exemplified by Goodwin Procter, which has secured a four-partner technology and life sciences team from Taylor Wessing.
Goodwin hired Malcolm Bates, David Mardle, Tim Worden and Adrian Rainey in a move that makes good on the firm’s promise to build out its City technology and life sciences bench. Mardle started in mid-June, while the remainder will join after completing their respective notice periods. Bates was head of the life sciences practice at Taylor Wessing and advises licensing, collaboration and distribution, manufacturing, outsourcing and R&D projects, as well as contract and patent disputes and regulatory matters.
Mardle, meanwhile, advises on private and public financings and M&A transactions in the life sciences and technology sectors. Worden focuses on licensing and collaboration transactions, R&D and clinical trial agreements, as well as regulatory matters, IP and public and private financings. Rainey was head of the corporate technology group and advises on private financings and M&A transactions across the software, internet, financial technology and digital media industries, as well as in the life sciences and medical devices industries.
The hires follow that of Taylor Wessing corporate partner Andrew Davis to Goodwin’s technology and life sciences practice in January, and reflect the firm’s ambition of emulating its success in the US by focusing on real estate, private equity, life sciences and technology.
Mitchell Bloom, chair of Goodwin’s life sciences practice, said of the latest hires: ‘Adding these premier hires aligns with our firm-wide strategy of capitalising on the impact of rapid technological change and innovation across our key client industries.’
Goodwin, which recorded a 58% increase in City revenue to $66.8m in 2018, has expanded significantly in recent years, with its total number of lawyers based in Europe rising to 160 from 20 over the last five years, including 15 dedicated to life sciences and technology. Its City revenue growth was more than three times the pace of the firm globally, which rose 16% to $1.2bn. Profit per equity partner saw a 14% spike to $2.46m and revenue per lawyer grew 10% to $1.25m.
While Goodwin continues its roll, the London outpost of Global 100 laggard and prospective Allen & Overy merger partner, O’Melveny & Myers, has lost another two private equity funds partners to Akin Gump Strauss Hauer & Feld. The departures of John Daghlian and Mary Lavelle follow fellow private equity funds partners Daniel Quinn and Aleksander Bakic, who quit O’Melveny in April.
Funds veteran Daghlian acts on a range of international and domestic private equity portfolio transactions, domestic flotations and M&A. Lavelle, meanwhile, was previously counsel at O’Melveny but joins Akin Gump as a partner, and advises funds managers and institutional investors on fund and asset management matters, as well as secondary transactions.
Akin Gump’s private equity funds team in London now includes six partners: the four recent arrivals from O’Melveny, as well as established partners Christopher Gorman-Evans and John Holton.