PwC will continue to spearhead the push by the Big Four accountancy firms into the global legal services market with the launch of a law firm in Washington DC.
ILC Legal will open in the US capital later this month to service US multinationals in their business dealings overseas. Continue reading “The rise of the accountants continues as PwC launches in DC”
Following last month’s separation of Tata Steel’s business from the British Steel Pension Scheme (BSPS), Linklaters and Slaughter and May have been drafted in to advise on its much-anticipated €15bn joint venture with Germany’s ThyssenKrupp.
The 50:50 project received the green light as the firms signed a memorandum of understanding today (20 September) to launch an Amsterdam-headquartered joint venture consisting of a 48,000-strong workforce spread across 34 locations. A final agreement is expected to be signed in 2018. Continue reading “Magic Circle prove mettle as Tata and ThyssenKrupp agree €15bn steel JV”
CMS is continuing its global expansion with news that its French member firm has hired a two-partner real estate team from Herbert Smith Freehills (HSF) in Paris.
With the acquisition of Nabarro and Olswang in the UK having moved real estate up the agenda at CMS, 12 lawyers will join CMS Bureau Francis Lefebvre at the start of 2018. Continue reading “‘Real estate up the agenda’: CMS brings across Paris team from Herbert Smith”
The Bar Standards Board (BSB) has today (19 September) issued a highly unusual apology to Serle Court’s Khawar Qureshi QC after the senior barrister was subjected to a year-long investigation over unfounded misconduct allegations.
The matter turned on Qureshi’s representation of East African republic Djibouti in a high-profile civil fraud case between the state and the businessman Abdourahman Boreh. In April 2015 another barrister involved in the proceedings made three allegations that the silk had misled High Court judge Justice Flaux.
Continue reading “Bar watchdog issues public apology to silk over Djibouti allegations”
After an initial flurry of hires in September there has been a pause for breath, leaving Osborne Clarke (OC) and Morgan, Lewis & Bockius to bring in senior lawyers in the UK in recent days.
Pinsent Masons has seen financial services regulation partner Michael Lewis depart for UK top 25 rival OC. After a career which has spanned Norton Rose, Linklaters, Simmons & Simmons and a secondment as policy adviser to the Treasury in 2000/01, Lewis spent six years at Pinsents. OC head of business transactions Greg Leyshon said Lewis would help strengthen the firm’s financial institutions practice. Continue reading “Revolving doors: Osborne Clarke and Morgan Lewis make senior hires as City recruitment takes a breath”
A Brexit-driven boost to Dublin as a professional services hub has been much discussed and now appears to be materialising as Covington & Burling has confirmed that it is the second international law firm to launch locally following last year’s referendum vote.
The Dublin launch, which is still subject to regulatory approval, will focus on regulation, pharma and life sciences and be overseen by London-based EU life sciences partner Grant Castle and technology partner Daniel Cooper. Continue reading “Brexit boost continues for Dublin as Covington launches life sciences team in Ireland”
Pity the poor business support staff. A week after Pinsent Masons confirmed that it was consulting on cutting 100 non-legal jobs, Hogan Lovells has announced that around 90 roles in its London arm are likely to go as part of a restructuring of its business.
About 78 business service roles and 12 legal support roles will be phased out or transferred to the firm’s West Midlands legal service centre or South African global business services hub.
A lack of clarity on the state of Brexit negotiations together with tougher macroeconomic conditions don’t seem to have impacted the UK top 100 law firms which posted an average 8.5% increase in fee income for the quarter ending July 2017.
Deloitte’s quarterly legal sector survey showed the growth was largely due to a 7% increase in fees-per-fee earner at the country’s top players. However, despite this top-line growth, the growth in chargeable hours per fee earner at the top ten UK law firms was lower at 3%. Continue reading “Top 100 firms defy Brexit upheaval with confident performance in first quarter of 2017/18”
They are already two of the most globalised law firms in the business, but CMS and White & Case have announced fresh international investment this week with CMS securing a new partner in the Middle East as the US-bred giant makes significant hires in Sweden.
Four months after completing the largest legal merger in UK history, CMS is continuing its expansion after signing a partnership with Riyadh practice Feras Al Shawaf. Continue reading “CMS signs up Saudi partners as White & Case brings in heavyweight Swedish duo”
As the profession’s liberal wing casts a sceptical eye over the Bar’s lack of diversity, former Linklaters capital markets partner Clare Moulder has made history by becoming the first female solicitor to be appointed to the High Court without practising as a barrister.
Moulder, who joined Linklaters in 1982 and made partner in 1991, will take her post on 2 October following the appointment of Sir Julian Martin Flaux to the Court of Appeal. Continue reading “A first for everything: Ex-Linklaters partner breaks new ground with High Court appointment”
As scandal-ridden PR agency Bell Pottinger collapses into administration, Ashurst, Hogan Lovells and Mishcon de Reya have swept in to take advisory roles during the aftermath.
Ashurst is acting for Bell Pottinger’s administrators, BDO, with a team consisting of corporate partner Bruce Hanton and restructuring partner Olga Galazoula. Ashurst had previously represented Bell Pottinger in 2012 when founder Lord Bell acquired the PR company back from its parent company Chime. Hogan Lovells is advising the agency’s biggest lender, Lloyds Banking Group. Continue reading “Never waste a crisis as Ashurst and Hogan Lovells step in amid Bell Pottinger’s administration woes”
It has been a legal trend more discussed than delivered in recent years but Eversheds Sutherland has made good on its pioneering work as a sole adviser to major corporates to secure the panel work of Turkey’s national flag carrier Turkish Airlines.
The arrangement, which will last for three years, will cover all of the airline’s day-to-day legal needs across 116 countries with Eversheds Sutherland’s head of global client development Stephen Hopkins managing the relationship. Ali Uysal, chief legal counsel for Turkish Airlines, said the deal would provide ‘efficiency and cost certainty’. The deal will not include domestic work as Eversheds does not have a local practice. Hopkins added: ‘Our partnership with Turkish Airlines is a long-term, strategic relationship.’ Continue reading “Sole survivor – Eversheds gets the lot from Turkish Airlines as company slashes legal roster from 120 to one”
On 1 May 2017, the largest legal merger in UK history went live as CMS Cameron McKenna, Nabarro and Olswang combined to form the 2,000-lawyer CMS UK. Managing partner Stephen Millar tells Marco Cillario about hurdles and opportunities of the tie-up.
LB: What have been the biggest challenges of combining and integrating three firms?
Stephen Millar, CMS UK managing partner: Looking at previous mergers, we knew this was about going through short-term pain for medium and long-term gain. Integration is a huge challenge when you have thousands of people and complex systems in place. Continue reading “‘Short-term pain, long-term gain’: Q&A with CMS UK managing partner Stephen Millar”
It has already made a much-hyped move into the referral network game, now the headline-grabbing Dentons is plotting another iconoclastic move by extending its Nextlaw group to cover public affairs advisers across the world.
The 8,000-lawyer giant today (12 September) unveiled the launch of what it calls the Nextlaw Global Public Affairs Network, having signed up 60 organisations spanning 100 countries. Continue reading “Another first for global law’s self-styled mavericks as Dentons’ mega-referral network expands into lobbying”
International law firms have returned from the summer break in acquisition mode, with Berwin Leighton Paisner, Bird & Bird, Taylor Wessing, Reed Smith and Pinsent Masons all hiring in London and Asia, while Sidley, Dentons and Osborne Clarke are expanding their continental European footprint.
Berwin Leighton Paisner (BLP) has this morning (11 September) announced the appointment of three new international disputes partners to further strengthen its litigation and corporate risk (LCR) practice. Continue reading “Revolving doors: International firms return to hiring season with multiple City and global recruits”
With growing pressure on firms to increase efficiency in the delivery of legal services through technology, as many as 100 legal personal assistant (PA) roles at Pinsent Masons are at risk of redundancy following a consultation launched by the firm.
The consultation will end by November and could affect any of the firm’s UK offices. Continue reading “100 PA jobs at risk as technology push leads Pinsent Masons to redundancy consultation”
It has been a busy week for in-house moves, with three major companies seeing significant changes in their legal teams. First up, Air France-KLM has appointed a new head of legal after a near year-long process. Pauline Baron has been promoted to head of legal at Air France after serving as head of corporate and securities at the aviation group for over two years.
Baron assumed the role in July, replacing outgoing legal head Guillaume Hecketsweiler, who left the company last October. Jérôme Nanty, Air France’s executive vice president and corporate secretary, headed the company’s legal division in the interim period. Continue reading “In-house wrap: Air France confirms new law chief as EDF and PwC make senior hires”
Eight months on and the King & Wood Mallesons (KWM) saga continues, with a progress report filed this week revealing the cost of the firm’s European administration amid confirmation that ex-staff are set to receive a payout.
According to a report filed by administrator Quantuma at Companies House on 5 September, CMS Cameron McKenna received a total of £826,740 for ‘assistance in attending to the complex legal issues which have arisen both in the pre and post administration periods’. This figure also includes costs of £235,544 incurred by the firm in dealing with KWM’s German offices while additional legal fees of £186,318 go to Pinsent Masons for advising the administrators as well as £70,000 to iLaw Legal Services. Continue reading “KWM insolvency report reveals cost of everything from artwork to legal fees as ex-staff agree payout”
It remains extremely rare for law firm leaders to re-emerge at another practice, but then Sir Nigel Knowles has always been one to do things his own way in more than 30 years in the profession.
Knowles today (7 September) announced his return to law after retiring last year from the global giant DLA Piper to become chair of DWF, an ambitious UK player that has long modelled itself on Knowles’ former parish. Continue reading “He’s back – DWF signs up Sir Nigel Knowles as chair in rare c-suite shuffle for the profession”
After a year-long trial, Norton Rose Fulbright (NRF) is following up on its recent transatlantic merger with further investment in its Newcastle legal services hub.
Supporting the firm’s operations globally, the Newcastle operation will move to larger premises on 1 November amid plans to increase headcount in the North East from 28 to 100 over the next two to three years. Continue reading “Cog on the Tyne – Norton Rose expands Newcastle legal services hub following successful trial”
