National law firm Shoosmiths will move to an all-equity partnership from 1 May 2015 with 76 salaried partners becoming fixed-share – and bringing the total number of equity partners to 126.
Continue reading “An opportunity to ‘get involved’: Shoosmiths to move to an all-equity partnership”
It’s been the debate the profession has avoided over the last decade, but one that finally appears to be stirring. Scrutiny of the regulation, guidance and professional support for in-house counsel will be addressed by the UK’s primary legal watchdog, it has been confirmed.
Lawyers are commonly viewed as deal breakers who protect their clients right out of deals. General counsel would be wise not to dismiss this notion – justified or not – and we can to respond to it on multiple levels.
It’s mid-December when I pay a visit to John Lewis, and as I’m waiting in the foyer of the aptly named Partnership House, I notice that most head office staff are sporting Christmas jumpers. When senior commercial lawyer Amy Holt arrives to greet me, she too is decked out in festive knitwear – putting paid to any notions of stuffiness in the retail chain’s commercial legal team.
Continue reading “From client to colleague: the John Lewis partnership”
This is a question posed by Jacques Barthélémy of Cabinet Barthélémy Avocats in Paris. He is writing in the 2014 European Company Lawyers Association [ECLA] white paper, which calls for all in-house lawyers in Europe to be recognised as independent professionals – and afforded the legal privilege enjoyed by their peers in private practice.
GC: When you joined HBO Europe in 2011, you undertook a review of the company’s legal systems. Could you tell us a little bit about that process?
Gordon Finlayson (GF): I’ve been with the business now for three years, and I came in at a point when it had changed quite significantly in terms of its management and ownership structure. It had previously been a joint venture between Disney, Sony and HBO, and HBO bought out the business shortly before I arrived. As part of that change, our CEO, Linda Jensen, brought on board a number of new members of senior management.
Continue reading “Revolution! How a GC unified processes and rolled out a bespoke IT system”
In the summer of 2008, Cambridge-based infrastructure software firm Autonomy Corporation [now HP Autonomy] began working on a US acquisition. A UK-listed public company, Autonomy had its eye on California-based software company Interwoven, and a deal valued at $775 million. Such a large takeover would require Autonomy to approach its institutional investors for funding, through a placing to raise £220 million, and to set up a new revolving credit facility of up to $200 million.
That’s quite a big question. I would argue “a lot”. If we accept that premise, then we can move on to a far more interesting discussion: how?
Debt and equity are the two options a company has when choosing how to finance itself. In debt financing, the business borrows money in some form without giving the lender any ownership rights in the company. The company issues bonds which can be bought and sold in the same way as shares. Unlike a share, which is equity in the business, a bond is essentially a loan with a fixed rate of interest.
Continue reading “The 5-minute financial analyst: financial markets”
Participants
Catherine McGregor, editor-in-chief, GC magazine
Orijit Das, European general counsel and vice president, Genpact
Sarah Davis, group commercial legal director, Guardian Media Group
Craig Stoehr, chief corporate officer and general counsel, Thomas Cook
David Webster, partner, RPC
Venue
Angler, South Place Hotel, London
Businessweek gave Peter Drucker the moniker “the man who invented management”. He has long been considered one of the most influential management thinkers, and each year his namesake the Drucker Institute hosts a conference in Vienna that continues to attract the cream of business thinkers and leading CEOs. Legendary CEO Jack Welch of GE was highly influenced by Drucker’s work as were other major companies such as Ford, Dell and Toyota. Recently it has been suggested that many of the tech industry’s new generation of CEOs are also looking to Drucker’s thinking to inform their strategic direction. Mark Zuckerberg reportedly consulted many of Drucker’s principles in building Facebook from a start-up into the global brand it is today.
There’s an oft-quoted remark by Theodore Roosevelt saying, “Appraisals are where you get together with your team leader and agree what an outstanding member of the team you are, how much your contribution has been valued, what massive potential you have and, in recognition of all this, would you mind having your salary halved?”
Hogan Lovells has this morning (31 March) announced that it will establish a presence in Australia with Allens partners Nicky Lester and Tim Lester spearheading the launch in Sydney and Perth respectively.
Technology and outsourcing boutique Radiant Law is making good on its ambitions to shake up traditionally conservative forms of providing legal services after revealing revenues of £3m for the 2013/14 financial year, doubling on the previous year, while chief executive Alex Hamilton has further plans to double lawyer headcount by 2017.
Continue reading “Boutiques: Radiant Law revenues double as it plans ‘aggressive’ growth”
One of a slew of arbitration lawyers over recent months to desert big law and the client conflicts that come with it, Olswang’s former head of arbitration Andrew Aglionby has decided that a move to the Bar would ‘throw up the same difficulties’ and has joined rent-an-arbitrator platform JAMS International.
Baker & McKenzie has succeeded in its £11.7m professional negligence dispute brought by German food flavourings maker Symrise and its Mexican subsidiary after a judgment passed down at the High Court today (31 March).
US firm revenues continue to come through with Kirkland & Ellis posting a 6.6% increase in global revenues to $2.15bn in 2014, an increase from the previous year when turnover rose 4% to $2.02bn. Meanwhile, Squire Patton Boggs posted its first post-merger global revenues, coming in at $870.5m with $163m of this generated in the UK.
Australian law firm Slater and Gordon has signed a £637m deal for Quindell’s professional services division – a business which generated revenues of nearly £180m in just the first half of 2014.
Linklaters, Sullivan & Cromwell and Ropes & Gray have advised as Towergate secured approval from the High Court on its plan to restructure around £1bn worth of debt
EY Law continues to enhance its Asia-Pacific presence with an alliance deal with South Korean firm Apex Legal, in a bid to align its advisory and legal businesses throughout the region.
