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The Global 100 Overview: Unstoppable forces

In Legal Business’ last Global 100 issue, we reported on a ‘relatively benign’ 2018/19 for the world’s top 100 law firms compared to the tumultuous three years that preceded it. The headwinds caused by increased protectionism in the US and ongoing acrimony between the UK and Europe had subsided somewhat after firms recovered from the initial shock of an infamous 2016. The result was an industry enjoying a sustained period of serious growth and momentum.

2020, however, brought an abrupt end to this period of plenty. If a global health pandemic that plunged the world’s largest economies into self-imposed lockdown was not challenging enough, there was also a drama-laden US presidential election. And buried amid this chaos, it is easy to forget the UK is marking the anniversary of Boris Johnson’s landslide electoral victory of last December, which mandated a potential no-deal exit from the European Union. At the time of writing, chances of a deal appear no better than 50/50. Continue reading “The Global 100 Overview: Unstoppable forces”

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The Global 100: Analysis – What’s the deal with DLA?

‘The whole place didn’t collapse, did it?’ So quips Simon Levine, almost six years since he took on the leviathan challenge of succeeding Sir Nigel Knowles as global co-chief executive and managing partner of DLA Piper. Nevertheless Levine, characteristically self-deprecating and garrulous, especially in light of the firm not being razed to the ground, has clearly never shaken off the stigma of the succession being likened by Sir Nigel himself to Manchester United’s legend Sir Alex Ferguson stepping down. As if taking over from a man acclaimed for shaping DLA into what was once the world’s largest law firm over 18 years was not daunting enough. ‘I didn’t want to go the way of Moysey,’ said Levine at the time.

It is rare for opinion to be unanimously glowing about a law firm leader, but it was about Knowles, who in May became chief executive of listed law firm DWF in what may be perceived as arguably an even bigger challenge than what lay before him at DLA. Continue reading “The Global 100: Analysis – What’s the deal with DLA?”

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Failings in Beckwith prosecution undermine #MeToo fight and muzzle regulator

The High Court ruling in November that overturned the Solicitors Disciplinary Tribunal (SDT)’s finding against ex-Freshfields partner Ryan Beckwith has sent shockwaves reverberating around the profession.

In the unlikely event that the substance of the ruling has escaped anyone, the Queen’s Bench Division’s judgment reversed the SDT’s October 2019 findings that Beckwith’s drunken sexual activity with an intoxicated associate breached Principles 2 and 6 of the Solicitors Regulation Authority (SRA)’s code of conduct, reversed his £35,000 fine and quashed the £200,000 costs order. Continue reading “Failings in Beckwith prosecution undermine #MeToo fight and muzzle regulator”

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Not a roaring start to the 2020s but bravery is key

art deco-style 2020s airship in London

The ink was barely dry on our cover feature at the start of this year – an upbeat look at how the UK profession will evolve through the 2020s following a bruising decade – when a global pandemic hit. Despite an apocalyptic lockdown year, the piece – ‘The vision thing’ – has aged well and makes for interesting reading in the context of what has happened. But any optimism to be gleaned from our predictions for a resurgent legal profession over the next decade has been tempered in the current climate.

But as the Roaring Twenties came to an abrupt end in 1929 with the Wall Street Crash, so can we hope that this decade can work in reverse. It has started with a crisis but law firms, hardened by more than a decade of conditioning and resilience, are better placed to pick themselves up and dust themselves down. Continue reading “Not a roaring start to the 2020s but bravery is key”

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Global 100 European M&A focus: Riding a black swan

‘What has happened to us?’ An M&A veteran shakes his head incredulously, having uttered the now ubiquitous phrase: ‘stay safe’ to conclude a Zoom call with Legal Business.

This time last year, rainmakers could hardly have imagined being forced into a neverending merry-go-round of video conferencing, let alone ending each conversation with something reminiscent of a BBC Crimewatch catchphrase. Continue reading “Global 100 European M&A focus: Riding a black swan”

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Life During Law: Samantha Mobley

My family story is not one of generations of lawyers. My great grandfather was a coal miner in Wales.

I went to school in South Africa and grew up in the apartheid era. My parents moved there when I was a small child and I had always wanted to move back to the UK. I applied to read law at Bristol University and I’ve never regretted it. I worked at the Albion pub in Clifton to pay some of my way through university. Continue reading “Life During Law: Samantha Mobley”

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The Global 100 – Core Stats

Top 10 firms by revenue change

Top ten firms by PEP change

Global 100 averages

Revenue and PEP growth across the Global 100

Return to Global 100 menu

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The Legal 500 View: The gender agenda: the rankings and firms making progress on diversity

Caroline Edwards

Legal 500 editors Georgina Stanley and Ben Wheway take an in-depth look at gender diversity in the latest Legal 500 London rankings

‘Institutional male dominance is hard to shift – it isn’t enough to want to change; sometimes these things are structural,’ says Travers Smith disputes partner Caroline Edwards (pictured) of the difficulties women lawyers can face trying to build their profile in the legal market and the directories that reflect it, including The Legal 500. Continue reading “The Legal 500 View: The gender agenda: the rankings and firms making progress on diversity”

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Sponsored practice area spotlight: Insolvency and restructuring: Combining unique skills to achieve a successful outcome

Prager Dreifuss

Insolvency and restructuring proceedings are intricate and complex. Practitioners must be able to combine legal knowledge, in particular in the areas of litigation, finance and transactions, with strategic, tactical and managerial skills to deliver positive results.

Prager Dreifuss has extensive experience and a longstanding tradition in insolvency and restructuring matters. In the wake of the financial crisis, we combined our finance and bankruptcy knowledge which enabled us to assist in complex project financing, also lately in a major multinational commodity project. Our attorneys regularly represent creditors, some of which are banks, hedge funds or other financial institutions, in large national and international insolvency and restructuring proceedings, whether in registering or purchasing claims or in enforcing disputed claims vis-à-vis bankruptcy administrators and before courts. Assisting clients in the recognition and enforcement of foreign judgments in Switzerland and abroad is a key feature of our daily practice. Frequently and increasingly, we are retained by creditors in enforcing claims (awards, bonds) against sovereigns. Continue reading “Sponsored practice area spotlight: Insolvency and restructuring: Combining unique skills to achieve a successful outcome”

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Sponsored briefing: The pandemic and Portuguese capital markets

VdA

In 2019, our article in Legal Business ended as follows: ‘Therefore, with the benefits of a renewed legal and regulatory framework and of an environment where low interest rates facilitate access to funding, 2020 is likely to follow in line with the current year, promising continued intense activity and diversity’. In January 2020, VdA organised an international conference on sustainable finance, where we discussed the growing relevance of ESG factors with key players.

However, unpredictably, by March 2020 it was clear that our prediction of ‘continued intense activity and diversity’ was beginning to make little or no sense, as the Covid-19 pandemic reached Portugal (and the world). By the end of March, an unprecedented legal moratoria regime was enacted and subsequently extended until the end of September 2021. Very dark clouds were on the horizon for those looking for funding or refinancing, and on top of the legal moratoria regime, force majeure and material adverse change clauses became hot topics of discussion. Continue reading “Sponsored briefing: The pandemic and Portuguese capital markets”

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Revolving doors: European and London laterals head up hiring push before Christmas

starry sky over the City

In a final lateral recruitment drive before Christmas, a number of international firms have unveiled notable partner hires.

Bryan Cave Leighton Paisner has announced the appointment of Jason Marty as its new chief operating officer. Marty, currently global COO at Baker McKenzie, will officially start his new position on 1 March. He will be based in Chicago and play a key role in execution of BCLP’s new business transformation initiative, dubbed Project Advance. Continue reading “Revolving doors: European and London laterals head up hiring push before Christmas”

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Dealwatch: $39bn AstraZeneca deal caps off pharma boom year as advisers secure roles on G4S bidding war

Briefcase

News over the weekend of AstraZeneca’s $39bn deal to acquire Alexion Pharmaceuticals has capped off the 2020 pharma boom in style with what has been touted as the largest acquisition of a US target company and the largest acquisition financing of the year.

Elsewhere, advisers benefited from another big-ticket transaction as the bidding war for security services company G4S ramped up with a bid from Allied Universal, and an equity valuation of £3.8bn.  Continue reading “Dealwatch: $39bn AstraZeneca deal caps off pharma boom year as advisers secure roles on G4S bidding war”

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Revolving doors: rush of international hires between Global 100 players dominates laterals market

In a week of significant lateral movement between large Global 100 firms, White & Case has expanded its global M&A practice with the addition of Linklaters partner Marc Petitier in Paris.

Petitier is a renowned corporate lawyer with 20 years’ experience at Linklaters who has led on many of the most significant corporate transactions originating from France, advising clients on public and private M&A deals, sales and joint ventures, and corporate governance. He has experience across a number of different sectors, including technology, financial institutions, energy and infrastructure, and on Africa-related deals. Continue reading “Revolving doors: rush of international hires between Global 100 players dominates laterals market”