Pinsent Masons, Shearman & Sterling and Clyde & Co were among the major winners at the 2016 Legal Business Awards, with Slaughter and May’s outgoing senior partner Chris Saul named Lawyer of the Year in recognition of an outstanding career.
Nine European partners down in one week at KWM as restructuring brings unintended consequences
Just four days after losing a six-partner private equity team in Paris to Goodwin Procter, three partners have left King & Wood Mallesons‘ London office for Mishcon de Reya, Dentons and Goodwin Procter.
News in brief – April 2016
REED SMITH REPLACED AS SIEMENS REFRESHES PANEL
Last month Eversheds and Osborne Clarke were reappointed to Siemens UK’s legal panel, while Addleshaw Goddard replaced Reed Smith, following a review. The new panel will last for three years.
Deal watch: Corporate activity in March 2016
TRAVERS SMITH ADVISES ON $540M SOFTWARE DEAL
Travers Smith and Kirkland & Ellis landed lead advisory roles on the $540m acquisition by Micro Focus of US firm Serena Software. In March, UK software firm Micro Focus said it would acquire Serena Software on a cash and debt-free basis for $540m. Travers Smith acted for longstanding client Micro Focus while Kirkland acted for Serena Software.
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Outgoing Slaughters senior partner Saul to launch mediation boutique
Slaughter and May‘s longstanding leader, Chris Saul (pictured), will launch a mediation boutique once he retires from his role as senior partner on 30 April.
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Comment: Stefan Stern – Just remember, GCs, Enron thought it was all perfectly legal
Earlier this year the 67th annual oil and gas conference was held by the Center for American and International Law in Houston. Lucky delegates got to hear from a special guest speaker – CFO magazine’s chief financial officer of the year, 2000. The speaker displayed the trophy he had received for his work, and then held up another item – a red prison ID card. Continue reading “Comment: Stefan Stern – Just remember, GCs, Enron thought it was all perfectly legal”
Simpson Thacher tops first quarter global deal tables, as Davis Polk dominates Europe
Despite a looming Brexit referendum swaying levels of transactional activity, certain law firms are enjoying a healthy pipeline of deals with Simpson Thacher & Bartlett emerging on top for global M&A deal value in Q1 2016.
A new model: Ince & Co brings in bonus pool at top of equity
Ince & Co is moving away from its traditional lockstep model and introducing a bonus pool above the top of its equity to reward its highest billers.
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Canada bound: Freshfields prepares to launch second legal services hub in Vancouver
A year after launching a nearshoring office in Manchester, Freshfields Bruckhaus Deringer has taken its plans to hive off low-level legal work to legal services centres has accelerated with plans in place to open a hub in Vancouver, Canada.
Guest post: After the Panama Papers expect rhetoric to quiet the mob, not meaningful change
Two days in. Lots of column inches. But what will it all mean for the future? Some embarrassment, a scalp or two, then business as usual? Or meaningful change?
Freshfields and Linklaters take the lead as Glencore disposes of $2.5bn stake in agricultural arm
Freshfields Bruckhaus Deringer and Linklaters are advising on Glencore’s $2.5bn sale of a 40% stake in Glencore Agricultural Products to Canada’s largest pension fund, the Canada Pension Plan Investment Board (CPPIB).
A&O and Linklaters win advisory roles on $965m financing of Travelex and UAE Exchange
Allen & Overy (A&O) and Linklaters have won roles advising on a $965m combined financing deal for UAE Exchange Centre and Travelex Holdings backed by nine banks, to support both forex companies’ growth plans.
US law firms’ secret deal weapon blunted as Pfizer pulls plug on $160bn inversion bid
The wave of ‘inversion’ bids into Europe from US companies could be set to end, with the strategy pioneered by Skadden, Arps, Slate, Meagher & Flom hit this week as US drug maker Pfizer terminated its $160bn deal to acquire Allergan amid US tax reforms.
Clydes misses out as Eversheds and Burness Paull take away places on Yum! panel
Eversheds and Burness Paull have won places on Yum! Brands slimmed down legal panel, with Clyde & Co missing out on reappointment.
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Guest post: Automation – the end of low-qualified lawyers?
Deloitte’s 2016 report [Developing legal talent: Stepping into the future law firm] has garnered some attention for suggesting a ‘tipping point’ is coming to the legal profession as early as 2020. In truth, as interesting as the report is, it has not really produced new evidence to support the claim that, ‘[Legal services businesses] will need access to lawyers who have a broader skill set and are not just technically competent lawyers.’ This seems to be the guts of their case:
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BAT general counsel Belhomme steps down as cigarette giant instructs HSF on plain packaging challenge
As the cigarette giant prepares its latest challenge against plain packaging, British American Tobacco’s (BAT) high profile regional general counsel for western Europe, Benoit Belhomme (pictured) has retired.
Dewey latest: Partners off the hook for lease payments
In a ruling relieving hundreds of ex-Dewey partners of millions of dollars in liability, a New York state judge has ruled against a former landlord of Dewey & LeBoeuf, which took action over unpaid rent.
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Clifford Chance secures position on Serco panel as Ashurst and Linklaters miss out
Following a recent review, outsourcing company Serco has announced its UK legal panel with Clifford Chance, Clyde & Co, Pinsent Masons, Bird & Bird, Addleshaw Goddard and DWF all securing places.
Comment: Shifting the Overton window – Panama Papers will change the consensus on tax (and boost corporate law firms)
The leak of 11.5 million documents from Panama law firm Mossack Fonseca has reheated a debate about tax and transparency that in truth hasn’t much cooled since the banking crisis. And from a narrow legal industry perspective, it will pile additional pressure on the offshore community. Continue reading “Comment: Shifting the Overton window – Panama Papers will change the consensus on tax (and boost corporate law firms)”
Tough times predicted for mid-tier firms, says NatWest report
Law firms across the UK with revenues below £46m ‘should expect tougher conditions in 2016’ despite generating a 6% increase in average fee income last year, according to NatWest’s latest Legal Benchmarking Report.
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