Disputes powerhouse Quinn Emanuel Urquhart & Sullivan has seen London revenues rise by a startling 61%, with net profit increasing by the same margin.
The US-based player’s revenue stands at £71.9m, up from last year’s figure of £44.8m. Net profit also rose from £32.6m to £52.6m. As a result, the firm’s profit margin is now a staggering 73%. Continue reading “Quinn Emanuel lays down outstanding marker with 61% surge in City revenue and profit”
The march of US advisers into the City’s disputes scene continues with Latham & Watkins today (16 January) announcing the hire of two litigation partners from Hogan Lovells.
The London-based partners, Jon Holland and Andrea Monks, focus on financial services litigation and related regulatory work, two of the most in-demand practices areas currently. Continue reading “‘Dynamic and entrepreneurial’ – Latham taps Hogan Lovells for disputes partner duo”
Ropes & Gray has hired Clifford Chance white-collar crime partner Judith Seddon as co-head of its London international risk practice in a move designed to bolster its English-qualified litigation firepower.
Seddon (pictured) will co-lead the seven-strong team alongside Amanda Raad, a US-trained partner who moved over from the US some four years ago to establish its London white-collar crime practice. Continue reading “‘The missing piece’ – Ropes & Gray recruits Clifford Chance white-collar heavyweight Seddon in London”
The beginning of 2018 has brought a further slew of lateral moves both in private practice and in-house, with Fieldfisher, Kennedys, Quinn Emanuel Urquhart & Sullivan, Dentons, Bird & Bird, Norton Rose Fulbright (NRF), Osborne Clarke (OC) and Aon all making major hires.
In the UK, Kennedys has boosted its London insurance practice by hiring Katherine Proctor as a partner from sector heavyweight Clyde & Co. As well as insurance, Proctor also specialises in construction, energy and negligence matters. Continue reading “Revolving doors: January lateral rush continues with key City and international appointments”
Legal Business’ Law firm of the Year Mishcon de Reya has made a significant move to develop its corporate practice, today (15 January) hiring Addleshaw Goddard partner Tim Field as head of equity capital markets.
Field has advised a range of clients including investment banks, financial advisers, brokers, stock exchanges, regulators for over 20 years on matters such as initial public offerings (IPO), takeovers and securities law. Continue reading “‘Exactly what we’ve been looking for’: Mishcon de Reya hires equity capital markets head from Addleshaw Goddard”
A heavyweight line-up of Slaughter and May, Freshfields Bruckhaus Deringer, Dentons, Clifford Chance (CC) and Linklaters have mobilised as construction giant Carillion files for liquidation in one of the largest UK insolvencies for years.
Dentons’ restructuring partners Nigel Barnett and Neil Griffiths are advising the liquidator, the Official Receiver, which the government will be providing with funding required to continue to carry out the company’s public services. Continue reading “Magic Circle scrambles as UK construction giant Carillion falls into liquidation”
While 2017 saw Norton Rose Fulbright (NRF) further expand its global footprint through two mergers in the US and Australia, the new year has begun with the firm losing out internationally with Paul Hastings recruiting its Japan head of corporate and NRF closing its Abu Dhabi and Kazakhstan offices.
Paul Hastings confirmed Eiji Kobayashi has joined its Tokyo office today (12 January), with his four-person team, including two associates, expected to join him in the coming weeks. Continue reading “Bumpy start to 2018 for Norton Rose Fulbright as Japan corporate head departs and two offices close”
Often trumpeted as a potential disruptor to the UK legal market, the last of the Big Four accountancy firms, Deloitte, is primed to enter the fray as an alternative business structure (ABS).
The global professional services giant confirmed yesterday (10 January) that it would be using technology such as automated document review and contract management to underpin the new legal offering. In addition, Deloitte will be launching a consulting service to help in-house legal teams get the best out of technology. Continue reading “‘Not another mid-market law firm’: Deloitte to make much-anticipated foray into UK legal market”
Scottish independent Burness Paull has reached a confidential settlement in a £160m dispute relating to its legacy business Paull & Williamsons, which came to light in late 2016.
The former chairman and principal shareholder of oil service firm International Tubular Services (ITS), Robert Kidd, filed the claim against Paull & Williamsons alleging it acted for both sides in a private equity investment by Lime Rock into ITS. Continue reading “Burness Paull draws line under legacy conflict saga as it settles £160m dispute”
Weil, Gotshal & Manges will close its Budapest office after its 20-strong Hungarian team agreed to join Bird & Bird in the latest chapter of the UK top 20 firm’s international expansion.
In what both firms described as the result of an ‘amicable’ discussion, Weil’s Budapest managing partner David Dederick will co-lead Bird & Bird’s local operations from 1 February. Continue reading “Weil Gotshal to shut Hungarian operations as team jumps to expansive Bird & Bird”
It takes a brave soul to tackle the issue of extortionate disclosure in the UK, and finding the happy medium required to satisfy both fretting clients and sceptical lawyers is difficult.
But that is exactly what the Disclosure Working Group is attempting to do, introducing a wave of reforms in November that will run as a mandatory two-year pilot across the business and property courts in the Rolls Building, starting in 2018 subject to approval from the Civil Procedure Rules Committee. Continue reading “Disputes Eye: Disclosure reform – time to err off the side of caution”
The results of a handful of legal panel reviews have been announced in the first week of 2018 by Lloyds Banking Group, the Pension Protection Fund (PPF), Metro Bank, and the Scottish Professional Football League (SPFL).
Linklaters, Clifford Chance, CMS Cameron McKenna Nabarro Olswang, Eversheds Sutherland, Herbert Smith Freehills, Bates Wells Braithwaite, Osborne Clarke, Ashurst, Hogan Lovells, and Reed Smith have all won spots on Lloyds’ commercial banking pass-through panel. Continue reading “New year, new broom as in-house teams unveil fresh external adviser panels”
As the January senior appointments merry-go-round at City and global law firms continues, Hogan Lovells has announced a new chair while Travers Smith has re-elected David Patient as managing partner.
In a move that brings its German practice in the spotlight, Hogan Lovells has announced that Hamburg-based Leopold von Gerlach will replace Nicholas Cheffings as chair of the board on 1 May for a three-year term. Continue reading “More reshuffling as Hogan Lovells appoints new chair while Travers Smith confirms Patient managing partner”
Commercial set Quadrant Chambers has secured a major team addition with the arrival of four banking barristers from 2 Temple Gardens (2TG).
Leading the team making the switch is Paul Downes QC, a seasoned commercial litigator ranked across four areas in the Legal 500: banking and finance, commercial litigation, financial services and civil fraud. In commercial litigation, Downes QC is described as ‘a strong cross-examiner, who makes mincemeat of witnesses’. Continue reading “Bar moves: Four-strong banking team joins Quadrant from 2 Temple Gardens”
In a stunning blow to traditionalists, the latest government reshuffle has seen a lawyer appointed as the UK’s new Justice Secretary, with minister David Gauke transferring from Work and Pensions to take over from David Lidington.
Lidington lasted all of six months as Lord Chancellor, having been last year drafted in to replace the gaffe-prone Elizabeth Truss before this week being transferred to the Cabinet Office. The appointment of the former City solicitor Gauke makes him the fourth Justice Secretary since Michael Gove stepped down ahead of the 2016 Brexit referendum campaign and the sixth in eight years under two Conservative-led administrations. Continue reading “Former City solicitor Gauke becomes fourth Justice Secretary in two years amid latest Cabinet reshuffle”
Two senior figures at Legal Business 100 firms Burges Salmon and Fladgate will see their tenures come to an end in the coming months as the firms announce a new managing partner and chairman respectively.
Bristol-headquartered Burges Salmon has appointed head of employment Roger Bull its new managing partner, replacing Peter Morris, effective from May. Continue reading “Management moves: succession planning in train at Burges Salmon and Fladgate “
The New Year often focuses minds on the greener pastures a new job might bring, and so it has proven with last week’s round of lateral moves.
Mishcon de Reya, Hogan Lovells, Dentons, and King & Spalding have all kicked off 2018 with partner hires, following a strong end to last year’s recruitment market. Continue reading “Revolving doors: New year sees no rest for lateral recruitment market”
With the tie-up between Eversheds and Sutherland Asbill & Brennan almost a year old, the latest accounts for the non-US business reveal its c-suite took a £1.7m pay cut for the 2016/17 financial year, as the limited liability partnership (LLP) filing also reveals average remuneration per member rebounded slightly from the previous year’s drop. Meanwhile, staff costs for the legacy Eversheds business have continued to increase with double-digit percentage growth.
The firm’s key management team saw remuneration fall 22% to £6m in the 2016/17 financial year, according to the latest Eversheds Sutherland International accounts. The share of profit and salaries awarded to its chief executive, managing partner and members of the executive committee was £7.7m the previous financial year. Continue reading “LLP accounts: Executive belts tightened at Eversheds Sutherland International as profit lifts 5%”
For most law firms, nailing down your c-suite successor two years in advance may look excessive, but when your leader is a veteran who could give Nigel Knowles a run for his money in industry prominence, it may be a wise move.
Such appears to be the logic at mid-tier thoroughbred Macfarlanes, which has confirmed today (8 January), that its print-friendly senior partner Charles Martin (pictured) will be succeeded in April 2020 when his latest term ends by private client partner Sebastian Prichard Jones. Continue reading “No politics, please – Macfarlanes names new head two years before high profile chief stands down”
Hyperbole and cliché over the end of an era can be justifiably deployed this morning (5 January) with news that Brodies’ figurehead Bill Drummond is to step down in April after 20 years as managing partner of the Scottish firm he joined as a trainee in 1980.
Drummond (pictured) will make way for current real estate head Nick Scott, representing a handover to a younger generation of leadership after a hugely successful run that has seen Brodies emerge as the most successful independent Scottish firm. After driving some phenomenal financial growth as managing partner, Drummond’s immediate plans include taking a break and spending time with family. Continue reading “He took the high road: Brodies ushers in next generation as veteran leader Drummond steps down”
