FRESHFIELDS BREAKS CITY LOCKSTEP TO BRING IN KIRKLAND’S McKIMM
Freshfields Bruckhaus Deringer’s hire of Kirkland & Ellis high-yield heavyweight Ward McKimm made waves in the City in June. Joining as co-head of European leveraged finance, McKimm’s salary is understood to be well above the firm’s City top of equity.
The trailblazing global law firm has had more than its share of knocks since the banking crisis. Will a popular new leader and strategic shake-up help Clifford Chance regain the magic?
‘There seems to be a point at every lunch and every cocktail party where the conversation turns to Clifford Chance. It always happens with conspiratorial whispers and knowing laughter, lawyers in City firms recount the latest tittle-tattle about the second largest firm in the world…
‘Why are people so obsessed with Clifford Chance? Because it is big? Because the lawyers are aggressive? Because the firm challenges City convention? Or it is because they are pioneers? Whether competitors know it or not, Clifford Chance has become a marker by which they measure themselves.’
Legal Business, June 1993
Continue reading “Global 100: Clifford Chance – The shoulders of giants”
CMS Cameron McKenna is gearing up for its managing partner election this autumn as chief Duncan Weston prepares to stand down from the role after eight years, with potential successors across the firm’s corporate and disputes practices already coming to the fore.
Continue reading “Candidates emerge as CMS gears up for autumn managing partner election”
As foreign investment into Africa grows, so does the demand for dispute resolution. We team up with Simmons & Simmons to assess how clients can get the best out of that crunch arbitration clause.
The attraction of Africa, and its abundance of natural resources, is undeniable. In 20 years, foreign direct investment (FDI) rose by 853% from just over $6bn in 1994 to $57.2bn in 2013, compared to a global average of 466% growth. It is unsurprising then that the increase in African-related arbitration has been robust. Where international investment goes, disputes invariably follow.
Continue reading “Clause and effect – The arbitration backing Africa’s investment boom”
Mayer Brown‘s Asia arm is in the final stages of forming an association with the Hong Kong office of Chinese firm Jingtian & Gongcheng, subject to regulatory approval from The Law Society of Hong Kong, while Cleary Gottlieb Steen & Hamilton has hired Shearman & Sterling capital markets partner Shuang Zhao.
Continue reading “Asia: Mayer Brown to form local JV in Hong Kong as Cleary takes Shearman partner”
RBS’s James Tsolakis on why law firms must adapt
On so many levels, the business of law is changing and the velocity of change has never been greater. These changes are creating unforeseen tensions within law firms and they challenge some of the fundamental principles that have historically defined the legal profession in the UK, a profession characterised by a tradition of conservatism and consistency, which are both foundations on which the enduring stability of the profession was founded. Continue reading “Survival of the fittest”
JP Morgan Chase will appoint its current corporate and investment general counsel (GC) Stacey Friedman as GC early next year as incumbent Stephen Cutler takes on the vice chairman role.
Continue reading “In-house: JP Morgan appoints a new GC as Cutler takes on vice-chairman role”
Linklaters has returned to a familiar hunting ground, Herbert Smith Freehills (HSF), to hire experienced arbitration partner Matthew Weiniger QC.
Continue reading “HSF arbitration heavyweight Weiniger QC to depart for Linklaters”
Clifford Chance (CC) has posted subdued results for 2014/15 amid a weakening euro, with revenue falling slightly to £1.35bn and profits per equity partner (PEP) edging down 2% to £1.12m.
Ashurst has revealed a drop in both firmwide revenues and profits per equity partner (PEP) following a ‘year of consolidation and significant investment’, including a global strategic review.
Continue reading “Growing pains as revenue and profits take a tumble at Ashurst”
Eversheds has posted essentially flat results for the last financial year, with revenues flat at £380.7m compared with £379.1m in 2013/14, while profit per equity partner (PEP) has nudged up just 2% from £731,000 to £749,000.
DAC Beachcroft has elected real estate partner Virginia Clegg as the firm’s new senior partner, while insurance head David Pollitt has been named managing partner, bringing both the insurance and non-insurance parts of the business together in leadership.
Continue reading “DAC Beachcroft unveils new leadership following contested election”
The last of the big four City firms to post its results, Freshfields Bruckhaus Deringer has revealed an 8% slump in its profit per equity partner (PEP) for the 2014/15 financial year, while firmwide revenues were more or less flat, rising just 1%.
Continue reading “Financials 2014/15: Freshfields PEP down 8% while revenues flatline”
In another busy week for international lateral hires, Allen & Overy (A&O), Kirkland & Ellis, Pinsent Masons and Reed Smith all made key appointments abroad, while London-based public international law boutique Volterra Fietta hired an overseas government specialist. Continue reading “Revolving doors: Global 100 firms make heavyweight international hires in key markets”
Hogan Lovells has tapped Baker Botts’ disputes team in Houston with the hire of three partners with almost 70 years’ combined experience at the firm, including the former head of the Houston office.
Continue reading “70 years’ experience: Hogan Lovells adds Baker Botts disputes trio in Houston”
Last week I attended a Symposium on Corporate Lawyers organised by Steven Vaughan and his colleagues at the Centre for Professional Legal Education and Research (CEPLER). It was a great event, bringing together a wide range of academics working on corporate lawyers alongside a fair few from corporate practice. I thought I’d share a few highlights.
A High Court judge has found that Lewis Silkin was negligent in advising Tim Wright, the former CEO of an Indian Premier League cricket franchise, on his employment contract and has handed down a judgment for damages of £2m against the firm.
Continue reading “Lewis Silkin on wrong end of £2m judgment for negligent advice to cricket CEO”
Legal Business 100 firm Weightmans has completed its merger with local Leeds firm Ford & Warren, creating a combined entity with revenues of around £100m and headcount of over 1,400.
Continue reading “‘A good little business’: Weightmans completes Leeds merger to create £100m firm”
The list of partner departures from King & Wood Mallesons’ City office is getting longer each week with Mishcon de Reya the latest beneficiary after picking up IP veteran Ray Black.
Continue reading “Exits mount for King & Wood as Mishcon snaps up veteran IP partner”
South East heavyweight Stevens & Bolton has revealed a 13% hike in revenue for 2014/15 to a record high of £22.3m, putting it on the cusp of the Legal Business 100, while profits per equity partner continue to outgun many larger firms, passing £400,000.
