The Team Elite: TMT
Methodology and criteria
The research process for the GC Powerlist has grown substantially since the first report was published in 2013 and now encompasses online nominations as well as substantial interviews with senior general counsel (GCs) and private practitioners.
The first stage for the 2018 report began in early December with the launch of an online survey to canvass recommendations for outstanding legal teams. Continue reading “Methodology and criteria”
Fieldfisher, Kirkland and Stephenson Harwood the major winners at 2018 Legal Business Awards
Fieldfisher, Kirkland & Ellis and Stephenson Harwood were the big winners at the 2018 Legal Business Awards in front of more than 900 people last night (18 April), as Allen & Overy’s deal star Denise Gibson was recognised as Lawyer of the Year and BT’s Dan Fitz GC of the Year.
Hosted by journalist, writer and television presenter Mariella Frostrup, the ceremony saw Fieldfisher crowned Law Firm of the Year after an impressive 36% revenue growth to £165m in 2016/17 – the largest rise of any law firm in the Legal Business 100 table last year. The firm scooping the most prestigious award of the night underlines the work of managing partner Michael Chissick and senior partner Matthew Lohn in turning around a firm which only in 2012 was near-crisis (as described in our recent cover feature Reversal of Fortunes . Continue reading “Fieldfisher, Kirkland and Stephenson Harwood the major winners at 2018 Legal Business Awards”
Partner promotions: Clifford Chance promotes 26 globally in a stronger round for women
Clifford Chance (CC) has made up 10 women in a promotion round that has ushered in 26 partners globally, seven of which are in London.
Effective 1 May, the round represents a much stronger showing for women, with 10 being promoted compared to just four last year. Overall the promotion round has increased by two from 24 in 2017. The new partners will span across the US, Asia Pacific, continental Europe the Middle East, while in the City promotions increased to seven, up from six last year. Continue reading “Partner promotions: Clifford Chance promotes 26 globally in a stronger round for women”
Allen & Overy makes up just two women partners in scaled back global promotion round
Allen & Overy (A&O) has made up only two female lawyers to partner as part of a 20-strong round unveiled in the same month the firm vowed a renewed drive towards gender diversity.
The latest promotions fall below the scaled-up 2017 partner promotion round of 24 in which 10 were made up in London. Only four lawyers in London have been promoted to partner this year, as corporate and banking saw the lion’s share of the promotions. Continue reading “Allen & Overy makes up just two women partners in scaled back global promotion round”
Global London comment: Brexit looms but the $20m partner is coming
Striking numbers abound in this year’s Global London table, if you are into that kind of thing. The three pace-setting US brands in London – Latham & Watkins, Kirkland & Ellis and White & Case – are all generating in the $300m region in the Square Mile, last year saw the first $10m lateral and my back-of-the-envelope scribbling indicates that the top 50 US firms are pulling in around $5bn in the UK.
The market is increasingly now defined by this trio, predictably so in the case of Latham, though City lawyers are still trying to get their heads around the idea of Kirkland and White & Case as mounting a frontal challenge. A few years ago, I’d have been equally sceptical, particularly in the latter’s case, but if there is a glaring hole in the game plan of these two outfits, they are hiding it well. With all three making ground in mainstream transactional work through 2017 and securing significant hires – the idea that certain kinds of M&A will remain the preserve of City advisers over the next three years looks fanciful. Continue reading “Global London comment: Brexit looms but the $20m partner is coming”
Revolving doors: Magic Circle provides talent as UK players strengthen at home and abroad
Last week saw the notable hires of highly experienced partners by rival firms in the UK, with the magic circle providing the source for some of the most high-profile acquisitions.
The most notable recruit came in Asia, where veteran silk Judith Gill QC is set to leave Allen & Overy to take up a position in 20 Essex Street’s Singapore offering within Maxwell Chambers on 1 May. Gill, who was admitted onto the roll in 1985, and said: ‘A&O has given me a level of encouragement, support and opportunity beyond all my expectations. I have had the privilege of working with immensely talented and dedicated individuals there at every level for more than three decades and I will miss them greatly.’ Continue reading “Revolving doors: Magic Circle provides talent as UK players strengthen at home and abroad”
UK rules: London in the spotlight as Mayer Brown appoints City veteran Clay as managing partner
In a marked shift in leadership away from its Illinois roots, Global 100 giant Mayer Brown has appointed City-based veteran Jeremy Clay as its new managing partner.
Global real estate head Clay will replace Washington-based litigator Kenneth Geller, who took on the role in 2009. Continue reading “UK rules: London in the spotlight as Mayer Brown appoints City veteran Clay as managing partner”
The future in the instant: Burness completes leadership overhaul of Scottish independents
With Brodies having completed a generational overhaul of its leadership recently, a changing of the guard at rival Scottish independent Burness Paull will take place this summer for the first time in over a decade.
Burness Paull corporate head Peter Lawson and property and infrastructure head Tamar Tammes will become the firm’s chairman and managing partner respectively from August this year. They replace longstanding figurehead and chairman Philip Rodney and managing partner Ian Wattie, who have held their positions for more than 12 years. Continue reading “The future in the instant: Burness completes leadership overhaul of Scottish independents”
‘A safe space’: SRA pushes ahead with innovation agenda
The Solicitors Regulation Authority (SRA) yesterday (12 April) announced plans to formalise its innovation ‘safe space’ – which allows firms to develop new ideas for business lines and products that could test regulatory boundaries – with the aim of fostering innovation within the legal industry.
The initiative seeks to simplify the existing waiver process from regulatory enforcement and make the criteria clearer for firms when applying for regulatory exemptions to pursue new business models. Continue reading “‘A safe space’: SRA pushes ahead with innovation agenda”
Addleshaws promotions rebound after a sedate 2017 as nine make the grade
Addleshaw Goddard has nearly doubled its promotions round from last year as nine partners are made up across the UK and Dubai.
The top 30 UK law firm’s partner promotions include three in London and Manchester, one in Leeds and two in Dubai, led by the corporate practice’s three promotions. The other new partners include one in each of employment, business support and restructuring, litigation, health and safety, construction, and environment. Continue reading “Addleshaws promotions rebound after a sedate 2017 as nine make the grade”
‘Top of our list’: A&O hires white-collar specialist Giles from Kingsley Napley
As the demand for criminal defence lawyers intensifies amid increased scrutiny from regulators, Allen & Overy has bolstered its firepower with the hire of white-collar crime partner Eve Giles from Kingsley Napley.
Giles has been a partner at Kingsley Napley since 2009 and will become A&O’s sixth corporate crime partner later this year, joining head of corporate and commercial litigation Lawson Caisley and partners Jonathan Hitchin, Calum Burnett, Arnondo Chakrabarti and Alice Englehart. Continue reading “‘Top of our list’: A&O hires white-collar specialist Giles from Kingsley Napley”
Comment: Allen & O’Melveny – a research-free, hot take
Hats off to my old shop, Legal Week for a quality scoop on Allen & Overy (A&O) and O’Melveny & Myers doing the come-hither shuffle. As usual, various outfits have lifted it without credit or attempted to imply that they forecast it. I didn’t forecast it and haven’t given it more than a cursory kick-of-the-tyres because – deadlines – so I am just riffing off anorak industry knowledge rather than proper research. But it’s still enough to make a few observations about what it says about the global market and London elite in general and A&O specifically.
For A&O, a tie-up with O’Melveny would clearly be highly significant – only the second US merger for a Magic Circle firm and just about the largest of its kind nearly 20 years on from Clifford Chance’s disaster-strewn takeover of Rogers & Wells. Continue reading “Comment: Allen & O’Melveny – a research-free, hot take”
Further uncertainty for SFO as agency appoints COO as caretaker chief
In a move unlikely to inspire, the perennially-embattled Serious Fraud Office (SFO) has appointed Mark Thompson, its chief operating officer (COO), as its new director on an interim basis.
Thompson, who will take up the post on 21 April, replaces outgoing director David Green QC, who has held the position since 2012. In an SFO press release, Thompson said: ‘The search for a new director has been successful, although the individual cannot take up the post immediately. In the meantime, it’s important that the SFO pursues its cases with vigour and discharges its legal and corporate obligations responsibly. My role will be to ensure we continue to do this, and to ensure a smooth transition when the new director arrives.’ Continue reading “Further uncertainty for SFO as agency appoints COO as caretaker chief”
Comment: The golden age of law firm leadership has passed… what now?
I used to say three things when asked for a view on the quality of leadership in the profession. Firstly, that it was pretty good (certainly better than commonly supposed). Secondly, the standard has generally improved (since the early 2000s). And, thirdly, the notion that law lags far behind most industries in management is nonsense (poor leadership being rife).
It was only when recently asked this by a new reporter – an experienced business correspondent but new to the profession – I realised that I could only now stand by the latter contention. After all, there is still much to be said for the disciplines of the owner-manager structure, even amid New Law disruption (and perhaps more than ever in an age that has revived the fashion for the cash-burn phase). But as someone who has met hundreds of managing and senior partners, my view is that this is a long way from the golden age of law firm leadership. Standards of operational polish have continued to improve – there is a reason that major law firms so rarely fail in the UK. That matters, but it is only part of the equation in an industry facing structural issues. Continue reading “Comment: The golden age of law firm leadership has passed… what now?”
Flat partner promotions round at Eversheds Sutherland a year after merger
Eversheds Sutherland’s international business has made 20 partner promotions globally, the same as last year, with more than half outside the UK.
In the UK the firm made up nine partners across Cardiff, Manchester, Leeds, Nottingham and London, where four were promoted. The 11 promoted outside the UK are in Dubai, Dublin, Hong Kong, Johannesburg, Milan, Munich, Riyadh, Rotterdam and Warsaw. Continue reading “Flat partner promotions round at Eversheds Sutherland a year after merger”
Quest for efficiency: Reed Smith set to open new low-cost centre in Leeds
Reed Smith is set to establish a low cost legal service centre outside of London in Leeds, it has emerged.
The centre, to be named RS Global Solutions, will see Reed Smith open its second UK office to offer additional support to its London hub. Plans for the new centre are being discussed internally today (10 April) with details yet to emerge on how many roles will be affected by the move, or who will lead the management team in the new northern office. Continue reading “Quest for efficiency: Reed Smith set to open new low-cost centre in Leeds”
Revolving Doors: Ashurst and Greenberg Traurig strengthen City benches as Pinsents sees moves both ways
A bumper week for City and international lateral hires followed the Easter break last week with Ashurst and Greenberg Traurig among those to make strategic additions in London, strengthening their real estate and white-collar practices respectively.
Ashurst announced the hire of Alison Hardy from Squire Patton Boggs where she was national head of its property litigation team. James Levy, head of Ashurst’s London disputes practice, said: ‘Alison is a highly regarded and experienced real estate litigator. We have every confidence that she will deliver great results for clients and play a key role in further developing our capability in high value disputes.’ Continue reading “Revolving Doors: Ashurst and Greenberg Traurig strengthen City benches as Pinsents sees moves both ways”
Addleshaw Goddard seeks material Asia growth with former BLP region head hire
Addleshaw Goddard has brought in the former Asia head of legacy Berwin Leighton Paisner as it looks to triple the size of its presence in Asia.
Bob Charlton is joining Addleshaws after leaving BLP, now Bryan Cave Leighton Paisner (BCLP) following its US merger in February, where he was the legacy firm’s head of Asia since 2014. Charlton previously held a similar role for DLA Piper in the region. Continue reading “Addleshaw Goddard seeks material Asia growth with former BLP region head hire”
Skadden zeros out of London for second year running in global partner promotion round
While other US rivals beef up their London partner headcount, Skadden, Arps, Slate, Meagher & Flom has for the second consecutive year passed over its City office for promotions, making up 14 new partners in a heavily US-focused round.
The move sees an uptick of partner promotions generally for the New York giant from last year’s round of 12 lawyers but continues its omission of the City branch. Four of the promotions – effective 1 April – were made outside of the US: one each in Frankfurt, Hong Kong, Paris and Tokyo. Continue reading “Skadden zeros out of London for second year running in global partner promotion round”