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LB100: Main table 2020
LB298 – issue menu
Access your print copy online – LB298
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Dealwatch: strategic acquisitions, disposals and restructuring moves dominate as firms continue advice on Covid-19 fallout
As has become customary in recent months, the deal market last week was characterised as being noticeably coronavirus driven – particularly in the tech, software, high street restructuring and strategic acquisitions spheres.
Nielsen’s $2.7bn spin-off of its Global Connect business – which provides research data to consumer goods companies – is another timely example of companies extracting value from their businesses by selling off non-core assets. In an effort to focus on its media arm and reduce debt, Nielsen is selling Global Connect to private equity firm Advent and James Peck, a former CEO of credit reporting company TransUnion. Continue reading “Dealwatch: strategic acquisitions, disposals and restructuring moves dominate as firms continue advice on Covid-19 fallout”
London and St Louis receive lion’s share of investment as BCLP announces 20-strong global promotion round
Bryan Cave Leighton Paisner (BCLP) promoted 20 lawyers as part of its latest global promotion round, the firm announced today (6 November), with London and St Louis again getting the majority of the spoils.
The figure is an increase of three on last year’s promotion push, though the City figure is one shy of last year’s five lawyers minted in London. Continue reading “London and St Louis receive lion’s share of investment as BCLP announces 20-strong global promotion round”
Revolving doors: Bumper round of lateral recruitment sees Gibson Dunn hire from Morgan Stanley as Deloitte acquires Kemp Little
Team leader moves, in-house hires and even boutique firm acquisitions have all taken place in the past week as recruitment at home and abroad picked up significantly.
The standout hire of the week was Gibson, Dunn & Crutcher recruiting Matthew Nunan, formerly a managing director and EMEA head of conduct risk at Morgan Stanley, to focus on complex contentious financial regulatory investigations and disputes in London. Prior to Morgan Stanley, he was the head of wholesale enforcement at the UK Financial Conduct Authority and previously served as a case controller at the Serious Fraud Office and as a prosecution lawyer for the Department of Trade and Industry. Continue reading “Revolving doors: Bumper round of lateral recruitment sees Gibson Dunn hire from Morgan Stanley as Deloitte acquires Kemp Little”
Guest post: Leadership in law in crises requires a human touch
General counsel and other senior in-house lawyers should not be afraid to show their human side when leading their teams through crises and seeking to deliver on business objectives, prominent figures in the legal market have agreed.
There was consensus on the issue among panellists participating in an online event jointly hosted by Legal Business and Pinsent Masons as part of the GC Powerlist UK 2020, as they reflected on the challenges they and their in-house teams have faced during the coronavirus crisis. Continue reading “Guest post: Leadership in law in crises requires a human touch”
‘Overwhelming support’: More of the same at Addleshaws as Joyce secures third term
Addleshaw Goddard managing partner John Joyce has reaffirmed his position at the helm of the firm following an uncontested leadership election, the firm announced today (2 November).
The deadlines for nominations closed on 30 October and Joyce has now been elected for a four-year term beginning on 1 May 2021. Joyce was first elected to the position in 2014 after a contested election against real estate head Adrian Collins. Continue reading “‘Overwhelming support’: More of the same at Addleshaws as Joyce secures third term”
Revolving Doors: City recruitment lull sees Wilson Sonsini and Ashurst make standout moves as Quinn hires in Paris
London saw few significant hires over the last week as the City recruitment market underwent a lull, with Ashurst and Wilson Sonsini Goodrich & Rosati making the only strategic moves. Meanwhile, Quinn Emanuel Urquhart & Sullivan and Clyde & Co both looked to Paris to strengthen their benches.
Ashurst announced the hire of Markjan van Schaardenburgh from Linklaters to its City corporate practice. With considerable experience in European and Sub Sahara African private equity transactions, van Schaardenburgh represents a significant addition for the firm. Continue reading “Revolving Doors: City recruitment lull sees Wilson Sonsini and Ashurst make standout moves as Quinn hires in Paris”
Dealwatch: Magic Circle firms strike £3bn mining take-private as counsel game for $1.5bn Genius Sports deal
This week has seen a wealth of substantial transactions as advisers strive to capitalise on opportunities presented by the coronavirus business environment.
The most eye-catching have been the £3bn sale of Kazakhstan-based and London-listed copper company KAZ Minerals to Nova Resources and special purpose acquisition company (SPAC) dMY Technology Group Inc II on its agreement to merge with UK-based Genius Sports Group (GSG). Continue reading “Dealwatch: Magic Circle firms strike £3bn mining take-private as counsel game for $1.5bn Genius Sports deal”
‘US firms have more buying power’ – Allen & Overy tight-lipped as partnership ushers in lockstep reform
The partnership of Allen & Overy has voted through reforms to its lockstep in a bid to increase rewards for star performers as market pressure from US competitors continues to take its toll on London’s big four international firms.
Partners voted through the changes last week after being presented with the proposal earlier this month. It comes at a time when the dual market pressures of the coronavirus pandemic and competition from US rivals on compensation show no sign of abating. A&O declined to comment on the reform but sources within the firm describe the key changes as the ability to stretch the top of the lockstep and accelerate high performers at the bottom of the ladder. Continue reading “‘US firms have more buying power’ – Allen & Overy tight-lipped as partnership ushers in lockstep reform”
Dealwatch: Links and Goodwin gain bandwidth on $2bn telecoms carve-out as Eversheds and DLA relish Gourmet Burger Kitchen rescue
The deal market continues to be a product of the coronavirus environment, with the rescue buyout of Gourmet Burger Kitchen dominating headlines as the pandemic devastates the UK’s high street.
Elsewhere, I Squared Capital’s $2bn acquisition of GTT Communications’ infrastructure business is the latest to illustrate the attractiveness of telecoms assets at a time when connectivity is more essential than ever. Continue reading “Dealwatch: Links and Goodwin gain bandwidth on $2bn telecoms carve-out as Eversheds and DLA relish Gourmet Burger Kitchen rescue “
Mixed results for A&O on gender pay gap but disability disclosure shows the right attitude
Allen & Overy has become the first of its peer group to reveal its pay gap statistics and, while gender disparities are still concerning, the firm has made a positive statement of intent by disclosing its disability pay gap for the first time.
On gender pay disparity, A&O’s figures are a mixed bag, with the firm moving in the wrong direction on partner pay. Women – which make up just 20% of the partnership – are paid on average 18% less than male counterparts, compared with a 16% disparity last year. Continue reading “Mixed results for A&O on gender pay gap but disability disclosure shows the right attitude”
Revolving Doors: Clydes wins back partner to City regulatory bench as US firms make European plays
It has been a quieter week in the City recruitment market, with Clyde & Co the only firm to make a notable move while Wilson Sonsini Goodrich & Rosati and Gibson, Dunn & Crutcher made significant hires on the Continent.
Clyde & Co’s London hire saw disputes and compliance lawyer Rachel Cropper-Mawer join the firm’s regulatory and investigations group. Cropper-Mawer joins from DAC Beachcroft, having previously worked in-house at insurance broker Willis Towers Watson and oil and gas company BP where she had significant responsibilities for compliance issues. Continue reading “Revolving Doors: Clydes wins back partner to City regulatory bench as US firms make European plays”
Revolving Doors: Bakers and Hill Dickinson the main movers in the City as firms look to Europe for expansion
Baker McKenzie and Hill Dickinson were the primary movers in the City recruitment market over the last week as a number of firms looked to bolster their European benches, with Paris and Ireland proving particularly active.
Bakers strengthened its City data protection and cyber practice with the hire of Paul Glass from Taylor Wessing, where he was a partner in the firm’s commercial technology and data group. Glass spearheaded Taylor Wessing’s cybersecurity practice and has advised on issues such as data breaches for 12 years. His practice also includes advising on contentious data protection and litigation, technology and IT disputes, and new and emerging technologies. Continue reading “Revolving Doors: Bakers and Hill Dickinson the main movers in the City as firms look to Europe for expansion”
‘Our greatest asset’: Mindful Business Charter gains momentum as Cooley’s City office signs up
With mental health and wellbeing now front and centre among law firm leaders more than ever, Cooley’s London office has become the latest to sign up to the Mindful Business Charter.
Launched in 2018, the charter was devised by banking giant Barclays alongside Pinsent Masons and Addleshaw Goddard in a bid to combat workplace practices that contribute to stress and poor mental health among lawyers. It encourages people to think about being clear in emails on when they need a response if sent outside business hours and not expecting people on annual leave to be on call. Continue reading “‘Our greatest asset’: Mindful Business Charter gains momentum as Cooley’s City office signs up”
‘Absolutely the right person’: OC names infra finance head Al-Nuaimi as CEO successor to Beswick
Osborne Clarke has named its successor to Simon Beswick as CEO, with infrastructure finance head and OC veteran Omar Al-Nuaimi (pictured) taking over in July 2021.
The move will see Al-Nuaimi succeed Beswick, OC’s inaugural CEO, at the end of his term after eight years in the role. The appointment was announced to partners on Thursday (8 October) by Núria Martín, chair of the international council and managing partner of Osborne Clarke’s Spanish offices. Continue reading “‘Absolutely the right person’: OC names infra finance head Al-Nuaimi as CEO successor to Beswick”
Comment: Last orders – The final reflections of a veteran legal pundit
I’ve always suspected that, like politics, careers in journalism largely end in failure. Here is how mine ends. After 20 years covering the legal industry, it’s time to do something else. Given that length of time, I hope my four regular readers will forgive the introspection of my final Legal Business column.
I was an accidental legal journalist, just a business reporter who ended up covering law while looking for the next sector to cover in my restless twenties. Business journalists should want to cover a sector that is large, competitive, has smart people and that Britain excels at. Law certainly ticked all those boxes, not that you’d know it from the lack of attention it gets outside its own media. Continue reading “Comment: Last orders – The final reflections of a veteran legal pundit”
Farewell to an outstanding editor
Today marks Alex Novarese’s last day at Legal Business before leaving the company for new challenges elsewhere.
Alex has been an outstanding editor of the magazine for more than seven years. Under his leadership, Legal Business has gone from strength to strength, ushering in a brand new digital platform, a complete overhaul of content and analysis, and offering sometimes outspoken comment, often provocative opinions, but always thought leadership in the true sense of the phrase. We know that Legal Business is the magazine which makes law firm partners sit up and take notice, and we know that Alex is a huge part of the reason why.
As Legal Business‘ portfolio of events, conferences and summits expanded exponentially over the past five years, Alex’s presence, commitment and insight on stage and behind the scenes has been fundamental to their success. When those events return following the pandemic we hope we can build on the exceptional legacy he leaves behind.
Alex will be greatly missed both by Legal Business staff and readership, and takes with him our heartfelt thanks for his enormous contribution both to Legal Business and to the wider company. We wish him all the very best in his future endeavours.
For more, see ‘Comment: Last orders – The final reflections of a veteran legal pundit’
White & Case reverts to London in 40-strong global partner promotions round
White & Case has refocused on the City in its latest partnership promotion round, after largely overlooking London last year in an uncharacteristic move for the firm.
The firm announced today (9 October) that as of January 2021 nine lawyers in the City will be minted as part of a wider 40-strong promotion round. The London figure is a marked increase on last year, when just three lawyers received the nod in the City with other jurisdictions prioritised. Continue reading “White & Case reverts to London in 40-strong global partner promotions round ”