Nearly six years on from its transatlantic union Hogan Lovells continues to post modest financial growth as its results today (16 February) showed revenue for the calendar year increased by 2.3% to $1.82bn in 2015 from $1.779bn in 2014 while profit per equity partner (PEP) increased by 2.7% to $1.250m from $1.217m.
End of the affair: Addleshaws Scottish takeover called off
Merger talks between Addleshaw Goddard and Maclay Murray & Spens to create a national practice with combined revenues of around £230m have been called off.
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Comment: Privacy v transparency – Withers’ Noseda on incoming OECD tax rules opening a new battle front
In almost every field of legal work, privacy is regarded as a primary and legitimate concern to protect the interests of individuals and organisations.
Revolving doors: Nabarro makes double disputes hire, as Big Four accounting firms make legal moves
In a busy week for City hires, Nabarro and Orrick, Herrington & Sutcliffe have added to their ranks, while accounting firms EY and PwC have added to their legal arms with partner appointments.
Simmons & Simmons creates general counsel position to ‘prevent unpleasant surprises’
City firm Simmons & Simmons has created a general counsel (GC) post, filled by UK employment chief Simon Watson, to handle the firm’s regulatory obligations, partner relations and litigation.
Asia round-up: Olswang and Bird & Bird build offerings while Slaughters Hong Kong partner Hyman retires
The past week has seen changes for several UK-headquartered firms in Asia with Olswang appointing a new Asia managing partner and Bird & Bird making two lateral partner hires, as corporate partner Neil Hyman retires from Slaughter and May‘s Hong Kong office.
City corporate push: Dentons makes M&A play with Pinsent Masons partner Levy
Dentons has made a corporate play in the City with the hire of Stephen Levy, who departs Pinsent Masons after almost a decade at the national firm.
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Guest post: The great tax debate – towards business accountability
This is the third in a series of pieces exploring what the Labour Centre might offer to the electorate. The first, sketching out some of the broader ideas, can be seen here. The second, which advances some specific policies to reshape the labour market to support self-employment and improve competition, can be seen here.
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Vinson & Elkins ramps up City private equity push with hires from Freshfields and Cadwalader
US firm Vinson & Elkins has hired Freshfields Bruckhaus Deringer finance partner Ian Frost and Cadwalader, Wickersham & Taft deal doer Paul Dunbar in an attempt to cash in on the burgeoning City private equity market.
Blank Rome to triple Washington office as it benefits from Dickstein Shapiro’s collapse
After a steady decline of its partnership, US firm Dickstein Shapiro has dissolved and ceased from practicing law after 65 years, with most of its lawyers moving to Blank Rome.
Comment: What did Brussels ever do for us? The lawyerly view on Brexit
Classicists holding to the maxim ‘first, do no harm’ will be looking in dismay at the debate on the UK leaving the EU. Because – perhaps less than six months ahead of the historic vote over the UK quitting the EU – it is still entirely unclear what the public will be voting for as the exit option.
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Divestment deal: A&O wins mandate as Asahi makes bid for Peroni and Grolsch ahead of mega beer merger
Allen & Overy (A&O) has advised as Japanese beer giant Asahi has made a bid to acquire SABMiller’s well-known European beer brands including Peroni and Grolsch as the European beer giant moves to complete its mega-merger with Anheuser-Busch InBev (AB InBev).
US financials: London launch sees firmwide Cooley revenues rise 14%
Cooley‘s financials for 2015 show revenue has risen 14% to $912m, while profit per equity partner increased by 9% to $1.9m, off the back of the firm’s London office launch in January last year.
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Aussie exodus: Skadden closes sole office in Sydney
Skadden, Arps, Slate, Meagher & Flom has confirmed it is closing its Sydney office – the US firm’s only base in Australia. The six-staff office will shut down in the first half of this year with all staff understood to be departing from the firm aside from co-head of Skadden Arps corporate finance group Adrian Deitz who will remain based in Sydney and operate as part of the firm’s Singapore and Hong Kong team.
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Private equity play: Mayer Brown makes major move with the hire of Reed Smith’s Europe head Yam
US firm Mayer Brown has hired Reed Smith’s Europe and Middle East head of private equity Perry Yam (pictured) to lead growth in the City private equity market.
Cooley continues City expansion with Mayer Brown finance partner Clark
US firm Cooley continues to recruit major lateral hires into its year-old London office as it has announced today (11 February) the appointment of senior finance partner John Clark (pictured) from Mayer Brown.
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Dundas & Wilson acquisition helps boost CMS turnover by more than 25%, accounts reveal
CMS Cameron McKenna has revealed a 26% rise in group turnover to £259.2m from £206.1m, boosted by the acquisition of Scottish firm Dundas & Wilson in 2014 which posted turnover of £47m.
BPP Law School changes hands in $1.1bn private equity deal
The dean of BPP University Law School Peter Crisp (pictured) says its ‘business as usual’ as the education provider has changed hands in a $1.1bn deal involving three private equity firms. The school is used by more than 50 City law firms to educate their lawyers.
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Cutting back: Ashurst’s highest paid member hit with 11% pay decrease, as other staff costs fall
Ashurst‘s highest paid member pocketed 11% less in the 2014/15 financial year compared to 2013/14, the firm’s LLP accounts show. The member with the highest entitlement to profit took home a little over £1m compared to £1.1m the previous year.
KWM under scrutiny for administrative error in £40m real estate deal for Better Capital
King & Wood Mallesons (KWM) has come under scrutiny for an ’embarrassing’ error made on a £40m real estate finance deal carried out on behalf of private equity group, Better Capital, last March.