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‘A new challenge’: Freshfields antitrust veteran Jon Lawrence to leave for Brick Court

Freshfields Bruckhaus Deringer competition litigation head Jon Lawrence is to leave the firm to pursue a career as a barrister at Brick Court Chambers.

Lawrence, who works in the EU dispute resolution group and heads the firm’s competition litigation team, as well as co-leading its cartel skills group.

Lawrence, who has worked at Freshfields for over 30 years, is seeking to join Brick Court in the autumn of 2018 upon successful completion of any pupillage and subject to compliance with any other regulatory requirements. Continue reading “‘A new challenge’: Freshfields antitrust veteran Jon Lawrence to leave for Brick Court”

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‘Unshakeable integrity and commitment’: Bristows joint managing partner Savvides dies in cycling accident

London head-quartered firm Bristows is mourning the death of joint managing partner Theo Savvides, who tragically passed away on 10 July following a cycling accident in France.

Intellectual property (IP) partner Savvides joined Bristows three years ago from Osborne Clarke and was made joint managing partner in 2016. Having trained at Allen & Overy, he was also an associate at the Magic Circle firm until 2002. Continue reading “‘Unshakeable integrity and commitment’: Bristows joint managing partner Savvides dies in cycling accident”

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Financials 2017: Pensions boutique Sackers records 16% fall in PEP as revenue static

Turnover at boutique pensions firm Sacker & Partners has slowed after last year’s strong growth, with average profit per equity partner (PEP) dropping to 794,000, 16% less than the previous year.

This year, Sackers also recorded stagnant turnover and a 5% fall in net income from £13.3m to £12.7m. Revenue at the firm, which focuses on pensions and retirement savings, remained flat at £26.7m, as it was unable to match its previous year’s financial success. Continue reading “Financials 2017: Pensions boutique Sackers records 16% fall in PEP as revenue static”

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‘Exciting growth journey’: White & Case advises Polish telecoms company Play on €1bn IPO

White & Case has again advised Polish telecoms group Play Communications and its shareholders, Novator and Olympia, this time on Play’s €1bn initial public offering (IPO) on the Warsaw stock exchange.

The IPO, which is the largest in the telecommunications sector in the past two years, values Poland’s second biggest mobile network operator Play at €4bn. Continue reading “‘Exciting growth journey’: White & Case advises Polish telecoms company Play on €1bn IPO”

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DWF breaks into South America with associations following Asia launch

DWF has fulfilled its ambition to enter the South American legal market with new associations in Argentina, Panama and Colombia, following swiftly on from the firm’s Asia launch in June.

The Manchester-headquarted firm has entered into associations with VAGEDES & Asociados in Argentina, Fabrega Molino in Panama and Duarte Garcia Abogados (DG&A) in Colombia. The associations will operate as ‘best friends’ arrangements and are not exclusive. Continue reading “DWF breaks into South America with associations following Asia launch”

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Fieldfisher posts 100% autumn trainee retention rates for second consecutive year

Fieldfisher is retaining all of its London-based trainees for a second consecutive year, with a 13-strong cohort qualifying into a range of practice areas.

The newly-qualified lawyers (NQs), who will earn £63,000 a year, will join Fieldfisher’s corporate, dispute resolution, employment and pensions, finance, intellectual property, regulatory, property litigation and technology practices. Continue reading “Fieldfisher posts 100% autumn trainee retention rates for second consecutive year”

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Firms including Bond Dickinson, TLT and DAC Beachcroft appointed to local authority framework

A host of UK firms including Bond Dickinson, TLT and DAC Beachcroft have been appointed to West Yorkshire authorities’ legal framework (WYLAW) for three years.

A total of nineteen law firms have been appointed across ten lots which include childcare law, general litigation, routine property and contracts, commercial and IT. National firms Browne Jacobson, Ward Hadaway and Weightmans also feature on the roster. The last WYLAW review was carried out in June 2013 resulting in a panel which included Eversheds Sutherland and Pinsent Masons. Continue reading “Firms including Bond Dickinson, TLT and DAC Beachcroft appointed to local authority framework”

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Comment: A grinding year for the Global 100 as US leaders assert dominance

Casting an eye over the results for the world’s 100 largest law firms, 2016/17 has been the definition of grinding out a result. Not a pretty result at that.

The group as a whole hiked revenues 3% to $98.82bn, pretty much tracking the increase in lawyer numbers. In part due to the strength of the dollar, there are some surprising results. The number of $2bn-plus law firms has fallen from ten to eight (thanks to Freshfields Bruckhaus Deringer and Linklaters). The number of $1bn-plus firms falls from 35 to 34. Consolidation continues to be a force in the industry but almost exclusively in the global mid-tier, not its upper echelons. Continue reading “Comment: A grinding year for the Global 100 as US leaders assert dominance”

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‘Particularly pleasing’: DAC posts 20% rise in PEP despite subdued revenue

DAC Beachcroft‘s profit per equity partner has increased 20% from £358,000 to £432,000, despite subdued revenue growth which the firm attributed to global investments and challenging market conditions over the year.

The firm recorded a 3% revenue rise from £201.6m last financial year to £207m this year.

DAC Beachcroft notably further reduced its debt by £1m to £19m over the period. Continue reading “‘Particularly pleasing’: DAC posts 20% rise in PEP despite subdued revenue”

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Trowers and Withers post fall in autumn trainee retention rates

Trowers & Hamlins will retain 70% of its second-year trainees in newly-qualified (NQ) roles this autumn, while Withers has decided to keep 73% of its final-year group this year, both a fall from last year’s retention rates.

Seven Trowers’ trainees from ten-strong cohort will be retained to qualify into the firm’s commercial property, corporate, construction and real estate departments. Continue reading “Trowers and Withers post fall in autumn trainee retention rates”

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‘Major consolidator’: Work Group raises £20m as it gears up to list Gordon Dadds in August

Following Work Group’s conditional £18.8m reverse takeover bid for West-End firm Gordon Dadds, Work Group confirmed it has successfully raised £20m, as the firm gears up to publicly list in August.

Work Group said in a statement that it had raised £20m through the conditional placing of new ordinary shares in Work Group, at a post-consolidation price of 140 pence per share, which would give the enlarged group a market capitalisation of £40m, based on the placing price on admission to AIM. Continue reading “‘Major consolidator’: Work Group raises £20m as it gears up to list Gordon Dadds in August”

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Freshfields, Slaughters and Morgan Lewis act as Bertelsmann buys further stake in $3.55bn Penguin Random House

Freshfields Bruckhaus Deringer, Slaughter and May, Morgan Lewis & Bockius and Davis Polk & Wardwell all returned to act as co-owner Pearson agreed to sell a further 22% stake in Penguin Random House (PRH) to Germany’s Bertelsmann, with the UK education company aiming to recapitalise the business to generate net proceeds of around $1bn.

Continue reading “Freshfields, Slaughters and Morgan Lewis act as Bertelsmann buys further stake in $3.55bn Penguin Random House”