Transport for London plans journey with new roster of legal advisers

Transport for London (TfL) is in the process of shortlisting firms for its new legal services framework, as the current roster enters the last year of its existing line-up.

The government body is reviewing submissions from firms to draw up a shortlist of bidders to be invited to tender. The successful firms are expected to be appointed this December.

The panel was last reviewed in 2019, when 15 firms were appointed. Seven of those were new to the panel at the time – Addleshaw Goddard, Burges Salmon, DLA Piper, Stephenson Harwood, Pinsent Masons, Womble Bond Dickinson and BDB Pitmans – while the other eight were reappointments; Ashurst, Eversheds Sutherland, Bryan Cave Leighton Paisner, Dentons, Herbert Smith Freehills, K&L Gates, Trowers & Hamlins and Gowling WLG.

The new framework, which is worth up to £120m, covers eight areas – employment law; major commercial matters; rail industry; routine commercial and real estate (contentious and noncontentious); housing; complex property and commercial development; major consents; and town and country planning and highways.

As with last time, the panel will run for at least four years, with an option to extend for a further two. The appointed firms will advise TfL and its subsidiaries, as well as TfL’s shared services clients, including the Greater London Authority.

TfL’s current general counsel is Andrea Clarke, who was appointed on a permanent basis earlier this year after serving as interim GC following the retirement of Howard Carter, who had held the top legal role for 18 years.

TfL’s biggest projects in recent years have of course included Crossrail, the railway infrastructure supporting the new Elizabeth line. Stephenson Harwood advised on a range of issues relating to the delivery of that project, with a team led by rail partners Tammy Samuel, Suzanne Tarplee and Darren Fodey, working alongside colleagues from the firm’s tax, projects and real estate, disputes and corporate practice.

The firm’s work included advising on the establishment of Rail for London (Infrastructure), a new company responsible for the day-to-day management of the Crossrail infrastructure, as well as guiding TfL through the associated regulatory requirements.

Over the duration of the current legal framework, other significant matters have included Burges Salmon advising on TfL’s efforts to power the London Tube network with renewable energy, while Pinsent Masons helped to secure consent for the £1bn Silvertown Tunnel under the Thames – described by lead partner Robbie Owen as ‘one of the most challenging and controversial infrastructure projects in London in recent years’.

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‘Evolution not revolution’: CMS and Addleshaw Goddard post revenue growth as results season continues

CMS has reported a 5% uptick in global revenue from last year’s €1.862bn to €1.957bn in its most recent set of financial results, with PEP down 4% on last year’s estimated £771,000 to £741,559.

Despite continued financial growth, this year marks a further deceleration after revenue growth slowed from 18% in 2021-22 to 6% last year.

Continue reading “‘Evolution not revolution’: CMS and Addleshaw Goddard post revenue growth as results season continues”

Pinsents and TLT post revenue growth as results season continues

Pinsent Masons has reported a 7.2% increase in turnover to almost £650m, marking another successful year of revenue growth for the international firm.

Revenue hit £649.6m, up from £605.9m last year, although growth was slower than last year, when the firm posted a 14% hike. Meanwhile, profit per equity partner (PEP) dipped very slightly to £793,000, down by less than 1% from £797,000. Continue reading “Pinsents and TLT post revenue growth as results season continues”

Irwin Mitchell breaks £300m mark as DWF builds on private equity takeover with 14% hike

Irwin Mitchell has broken through the £300m mark for the first time, with revenues rising 10% on the back of a series of acquisitions and expansion.

For the year ending 30 April, the firm posted record revenues of £304.3m, up on last year’s £276m. Group profit before tax also rose significantly, reaching £21.7m, up 45% from £15m last year.

Continue reading “Irwin Mitchell breaks £300m mark as DWF builds on private equity takeover with 14% hike”

Paul Hastings continues run of London structured finance laterals with Weil hire

In another boost for Paul Hastings’ London office, the US firm has recruited structured finance specialist Brian Maher as a partner from Weil Gotshal & Manges.

Maher, who is a Legal 500 leading individual for securitisation, will be accompanied by counsel Sophie Bainbridge and associate Emily Firmston.

Continue reading “Paul Hastings continues run of London structured finance laterals with Weil hire”

The Client Profile: Gurdeep Boparai, Coventry Building Society

From the age of 10 I knew that I wanted to be a lawyer. The first lawyer I ever met was a close family friend. She had just qualified and spoke so passionately about the work she was doing, Being in and out of court sounded so exciting, the work was varied and fast paced and I knew this was something I wanted to be a part of. At that time the profession was heavily male dominated and having a strong female role model, and someone to aspire to was so important. I went on to do my research and did lots of work experience from the age of 16 in different firms, from local high street practices to larger national, commercial firms. Whilst I realised it wasn’t all glamorous – I was hooked! As I continued throughout my education, it became clearer that law fit my natural skillset and when I went on to do my LPC, it was the collaborative and problem-solving element of the work that interested me. Continue reading “The Client Profile: Gurdeep Boparai, Coventry Building Society”

Profit flat at Eversheds Sutherland as revenue inches up amid ‘challenging conditions’

Lee Ranson

Eversheds Sutherland has posted a modest 3% increase in revenue for its business outside of the US, with profits remaining flat amid what the firm described as ‘challenging economic conditions’.

Revenues for Eversheds Sutherland (International) – which reports separately to the firm’s US arm – rose from £730.9m to £749.4m, with profit per equity partner (PEP) inching up by less than 1% from £1.29m to £1.3m, and net profit flatlining at £175.1m.

Continue reading “Profit flat at Eversheds Sutherland as revenue inches up amid ‘challenging conditions’”

Antitrust renaissance: navigating deals amid agency crackdowns

‘The UK competition practice has been transformed by Brexit’ observes Nick Levy, a partner in Cleary Gottlieb’s London antitrust team.

It’s well documented that since the UK’s exit from the EU, the Competition and Markets Authority (CMA) has embraced a position of intensified scrutiny, leading to parallel investigations and outcomes with the European Commission (EC). Continue reading “Antitrust renaissance: navigating deals amid agency crackdowns”

ESG in Switzerland: Schellenberg Wittmer Q&A

In the last two years, how has the ESG practice group grown at the firm?

Anya George: One notable characteristic of our group now is that it is truly multidisciplinary. We possess expertise in both transactional matters and disputes. In recent years, we have placed increased emphasis on financial market regulation, greenwashing, and carbon credits—areas where many of our competitors lack expertise. In Switzerland, there has been a noticeable rise in requests for advice on ESG matters across the board, although understanding due diligence and reporting requirements remains a primary concern for our clients. Continue reading “ESG in Switzerland: Schellenberg Wittmer Q&A”

Travers Smith reaches record highs for revenue and PEP despite recent partner exits

Turning the page on last year’s disappointing financial performance, when revenue nudged up by just 1% and profit per equity partner (PEP) stayed flat, Travers Smith today (29 July) announced record-breaking results for 2023-24.

Revenue passed £200m for the first time, reaching £215m —a nearly 10% increase from last year’s £197.5m.

Continue reading “Travers Smith reaches record highs for revenue and PEP despite recent partner exits”

Revolving Doors: Paul Weiss makes European restructuring bow as Dentons hires in new global CEO

Leading the high-profile moves this week, Paul Weiss hired Akin restructuring partner Liz Osborne in London for its much-anticipated European practice launch.

Leaving Akin after almost a decade at the US firm, Osborne will join Paul Weiss as the head of European restructuring.  Continue reading “Revolving Doors: Paul Weiss makes European restructuring bow as Dentons hires in new global CEO”

Latham, Freshfields and A&O Shearman top the nominations for Legal Business Awards 2024

Latham & Watkins, Freshfields Bruckhaus Deringer and A&O Shearman are among the most-nominated firms at the 27th annual Legal Business Awards, the shortlist for which has been unveiled today (click here for the full list of nominees).

The trio, which have a total of 18 nominations between them, are all up for the prestigious Law Firm of the Year prize. To win, they will have to see off competition from fellow nominees Brodies, Burges Salmon, Freeths, Osborne Clarke, Pinsent Masons and Paul Weiss at the ceremony on 17th September at Grosvenor House.

Continue reading “Latham, Freshfields and A&O Shearman top the nominations for Legal Business Awards 2024”