Weil’s City office sees 23% profit hike as top-earning partner takes home £1.7m

Weil Gotshal & Manges London office

The City office of Weil, Gotshal & Manges increased revenue 15% from £126.1m to top £144.8m during 2018, the firm’s recent LLP accounts show.

Operating profit surged 23% to reach £70m as the partner profit pool increased 27% from £51.8m to hit £66m in the 2018 financial year. The City office’s top-earning partner took home £1.72m on the back of the profit increase, a 41% increase on the previous year. Continue reading “Weil’s City office sees 23% profit hike as top-earning partner takes home £1.7m”

Norton Rose enters associate pay war putting NQs in line for £114k paycheque

Norton Rose Fulbright

Top-performing newly qualified (NQ) solicitors at Norton Rose Fulbright (NRF) will be in line to take home up to £114,000 as the firm becomes the latest to increase its starting rates amid an escalating war for associate talent in the City.

NRF confirmed today (9 October) a 9% rise to its NQ basic salary to £87,500 effective in January 2020, with bonuses of up to 30% on top of that. Continue reading “Norton Rose enters associate pay war putting NQs in line for £114k paycheque”

Stake in the ground: Pinsents bolsters alternative services with project management division

Dee Tamlin

Pinsent Masons has launched a client and legal project management division as it continues to ramp up investment in non-legal services.

The firm said today [8 October] it had launched the division of more than 20 project managers, led by head of client and legal project management Dee Tamlin (pictured). That team has largely been built up since May last year and won mandates in the UK, Europe and South Africa, with the firm now looking to invest further through recruitment in the UK, Asia-Pacific and Middle East. Continue reading “Stake in the ground: Pinsents bolsters alternative services with project management division”

Dentons double merger adds 300 lawyers to create ‘first truly national US law firm’

Elliott Portnoy

Dentons will have more than 1,000 lawyers across 33 US markets following the latest in a long line of tie-ups announced since the start of the summer.

After expanding in South America, Asia Pacific and Africa through ten mergers since July, the globetrotting firm has announced it is to combine with 175-lawyer Midwest firm Bingham Greenebaum and 140-strong Pennsylvania-bred Cohen & Grigsby. Continue reading “Dentons double merger adds 300 lawyers to create ‘first truly national US law firm’”

Joining the club: Eversheds hires Hong Kong litigation partner from Slaughters

Hong Kong illustration

Eversheds Sutherland has recruited Slaughter and May litigation partner Mark Hughes in a rare departure for the Magic Circle firm.

Hughes acts on litigation cases in Hong Kong as well as the wider Asia-Pacific market, while also acting on international arbitration matters and cross-border investigations by criminal and regulatory authorities. Continue reading “Joining the club: Eversheds hires Hong Kong litigation partner from Slaughters”

Revolving doors: McDermott hires Hogan Lovells private equity head as Dechert loses partners in London and Paris

Selecting recruits

The lateral market maintained momentum last week as McDermott Will & Emery hired from Hogan Lovells with both Addleshaw Goddard and Paul Hastings targeting Dechert.

McDermott added Hogan Lovells’ global private equity head Tom Whelan. Whelan, who is experienced in private equity life cycle, has worked with private equity sponsors, multi strategy funds and corporates. His work includes advising on buyouts, M&A, bolt-ons, restructurings and refinancings through to exits. Continue reading “Revolving doors: McDermott hires Hogan Lovells private equity head as Dechert loses partners in London and Paris”

International round-up: DWF recruits five partners for Düsseldorf as CMS expands in Africa

Düsseldorf

DWF has made its second post-IPO international office opening, hiring a five-partner team in Germany, while CMS has added two firms in South Africa and Kenya to its network.

DWF said today (7 October) it was opening its fourth German office in Düsseldorf after recruiting the entire office of Marccus Partners, consisting of 10 staff – including five partners. Marccus – which is not listed in any of the recognised legal directories for Germany – specialises in company law, M&A, insolvency, banking and finance, real estate and tax. One of the hires, Norbert Knüppel, will be DWF’s executive partner of the new office. Continue reading “International round-up: DWF recruits five partners for Düsseldorf as CMS expands in Africa”

Big deal: Weil makes symbolic London play with hire of Linklaters M&A star Avery-Gee

David Avery-Gee, Linklaters

In a rare marquee hire for Weil, Gotshal & Manges, Linklaters M&A star David Avery-Gee (pictured) is joining the US firm’s City office.

The hire is a standout move for Weil, which has failed to gain meaningful traction on lofty ambitions to bolster its corporate practice in London to support the office’s managing partner, Mike Francies, who has been acting for some time as the firm’s chief M&A practitioner. Continue reading “Big deal: Weil makes symbolic London play with hire of Linklaters M&A star Avery-Gee”

UK and Belgian bars sign agreement as concerns mount for the profession in no-deal Brexit

EU cliff edge

The Brussels Bar and four other legal professional bodies will lobby the Belgian government to ensure UK lawyers don’t lose their right of audience in the country’s courts in the event of a no-deal Brexit, according to a memorandum of understanding signed this week.

The move comes as a report published today (4 October) stated that a no-deal exit at the end of the month would result in an ‘irreducible amount of legal uncertainty’ that would be bad for both UK business and the rule of law.  Continue reading “UK and Belgian bars sign agreement as concerns mount for the profession in no-deal Brexit”

Bakers makes eleventh City lateral in last year with Ashurst corporate hire

Jason Radford

Ashurst’s global head of corporate Jason Radford (pictured) is unfazed by the loss to Baker McKenzie’s prolific City hiring spree of corporate partner Nick Bryans and has pledged a sustained investment drive to maintain the firm’s recent financial rebound.

An Ashurst-lifer and partner since 2005, Bryans is joining the London office of Bakers. He follows ten other laterals the expansive firm has made already in London over the last year. He was head of the Ashurst’s Middle East practice in Dubai from 2007 to 2010 and a member of the firm’s Japanese practice group. Continue reading “Bakers makes eleventh City lateral in last year with Ashurst corporate hire”

Kirkland smashes promotion round record for elite firm with 141 new partners and 16 in the City

riding on a Kirkland & Ellis wrecking ball

The world’s highest-grossing law firm Kirkland & Ellis has unveiled the largest partner promotion round ever seen by a top legal practice, making up 141 partners, including 16 in the City.

The move continues the Chicago-bred giant’s dramatic ascent, adding 19 to last year’s eye-catching 122-strong round and comes at a time when many peers are restricting partnership to push up partner profits. Continue reading “Kirkland smashes promotion round record for elite firm with 141 new partners and 16 in the City”

Rigotti to stand down in 2020 as HSF starts search for a new leader

Herbert Smith Freehills (HSF) CEO Mark Rigotti is to stand down from his role next year, with the firm now priming itself to select a new leader once his term ends on 30 April.

The firm’s council will be the body appointing the new CEO, and is at the early stages of launching a selection process for Rigotti’s successor. The new incumbent will occupy the sole CEO position after the firm switched from a dual model in 2017. Continue reading “Rigotti to stand down in 2020 as HSF starts search for a new leader”

Hogan Lovells’ International business slims down headcount amid 8% revenue growth

hogan lovells office

Profits at Hogan Lovells’ non-US business rose 11% to £281m last year as it slimmed down lawyer headcount by 37 in 2018, the firm’s LLP accounts have shown.

The accounts published today (2 October) show revenue from the firm’s offices in 21 countries outside the States grew 8% to £860m in the year to December 2018, up from £798m the previous year. Continue reading “Hogan Lovells’ International business slims down headcount amid 8% revenue growth”

Guest comment: Has ‘far more assertive’ Supreme Court over-reached in Miller 2?

Gina Miller

For some, Miller 2 is the most significant constitutional case for centuries. For others, just another act in the Shakespearean tragedy or comedy that is Brexit. As an editor of the UK Constitutional Law Blog I have found that lawyers made just as much fuss about the first case brought by Gina Miller in relation to Article 50 as they have over this recent decision. And yet still the constitution carries on; apocalyptic predictions of its demise are surely exaggerated?

It can certainly be argued that it takes more than a high-profile litigator, even one who gets two bites of the cherry (forgive the pun), to overturn our 800-year old constitution. But Miller 2 is, jurisprudentially, very different from Miller 1. It will take time to assimilate the various strands of the decision and we also wait to see whether the courts use it as a launch-pad into further political space. But simply in terms of its reasoning and robust language it already represents a far more assertive judicial attitude to Crown-Parliament relations than we have seen before. Although dressed up as a defence of Parliament, make no mistake, the Court is asserting its own constitutional position under the guise of being Parliament’s trouble-shooter. And if the Supreme Court follows up with further strident interventions in other areas of political decision-making, for example surrounding implementation of the ‘Benn Act’, the consequence could be a self-transformation of our highest appellate court into a constitutional court, comparable to other politically-engaged judicial powerhouses around the world. Continue reading “Guest comment: Has ‘far more assertive’ Supreme Court over-reached in Miller 2?”

Fantastic platform: TLT managing partner Pester to stand down after 19 years

John Wood

Long-standing TLT managing partner David Pester is to be replaced by corporate head John Wood (pictured) after 19 years in the top role.

The Bristol-based LB100 firm said today (1 October) Wood, who has been at TLT since 2000 and head of corporate since 2003, will take over from April next year. Pester will remain at the firm in a strategic role to be specified later. Continue reading “Fantastic platform: TLT managing partner Pester to stand down after 19 years”

Financial centre: Three Crowns chooses Middle East for first office since launch

Manama, Bahrain

Boutique arbitration firm Three Crowns has opened a Middle Eastern office in Bahrain, its first expansion since being founded five years ago.

Three Crowns opened in Washington, Paris and London in April 2014 after being set up by former Freshfields Bruckhaus Deringer arbitration partners Constantine Partasides, Georgios Petrochilos and Jan Paulsson as well as former partners from Jones Day, Covington & Burling and Shearman & Sterling. Continue reading “Financial centre: Three Crowns chooses Middle East for first office since launch”

Clyde & Co further reshuffles leadership with internal CEO appointment

Matthew Kelsall

Clyde & Co has completed its management turnover by replacing long-standing chief executive Peter Hasson with chief operating officer Matthew Kelsall.

Kelsall’s (pictured) appointment is effective from 1 January 2020 and comes after the firm elected Peter Hirst its new senior partner, replacing Simon Konsta from November 1. Hirst and the Clydes’ management board led the chief executive recruitment process. Continue reading “Clyde & Co further reshuffles leadership with internal CEO appointment”

‘They’re lying’: Muddy Waters retaliates as Burford ramps up stock manipulation claims

Richard East

The acrimony between Burford Capital and Muddy Waters has shown no signs of abating, with the litigation funder enlisting Quinn Emanuel Urquhart & Sullivan to chase the identities of traders who allegedly manipulated its shares.

Quinn partner Richard East (pictured) submitted a statement to the High Court on behalf of Burford on Monday (30 September) which argued that the decline in the litigation funder’s share price was the result of ‘unlawful trading activity’. As a result, Quinn formally asked the High Court to obligate the London Stock Exchange (LSE) to reveal the identities of those placing orders and on whose behalf the orders were being placed. Continue reading “‘They’re lying’: Muddy Waters retaliates as Burford ramps up stock manipulation claims”

Revolving doors: Dentons and Akin Gump double up in London as Squire Patton Boggs offsets loss in the City

David Collins

A busy week for lateral hires saw Dentons, Akin Gump and Squire Patton Boggs each make City hires as DLA Piper turned to Aviva to expand its pensions team.

Dentons said today (30 September) it had hired M&A and private equity partner Paul Doris from the London office of US firm Orrick, Herrington & Sutcliffe. He is the firm’s third corporate lateral hire in the last 18 months and advises financial sponsors, particularly in energy and infrastructure and in markets including Spain and Latin America. Continue reading “Revolving doors: Dentons and Akin Gump double up in London as Squire Patton Boggs offsets loss in the City”

New Law, new money: UnitedLex turnover hits $350m with UK expansion on the cards

American hand grabbing the globe

US New Law provider UnitedLex has bolstered its total revenue to $350m in its most recent financial results, with expansion across the UK and Europe is high on its agenda for the rest of the year.

Turnover is up 27% on the company’s last set of financials, while UK revenue increased 8% over the last year from £54m to £58.5m. Headcount in the UK also grew over the year, rising from 125 fee-earners to 145 this year, of which 80 are qualified solicitors. Continue reading “New Law, new money: UnitedLex turnover hits $350m with UK expansion on the cards”