Gibson, Dunn & Crutcher‘s co-chair of its financial institutions Mark Shelton is leaving the US firm to join Barclays Investment Bank as its global general counsel (GC) and the regional GC for the Americas.
Winston & Strawn’s Tirado: ‘Dissent, it turns out, comes at a price even in disputes’
There are many so-called ‘hot’ topics in international arbitration that could have been the subject of this article, but ultimately the topic chose itself.
US results: Shearman sees solid City growth but US stalls after rebound year; Gibson surpasses $3m PEP
Following a rollercoaster ride over the past few years, Shearman & Sterling has unveiled financial results showing moderate but steady growth in 2014 as profit per equity partner (PEP) rose 5.8% on 3% turnover growth. Meanwhile, Gibson, Dunn & Crutcher had its 19th year of consecutive revenue increases with a 6% lift to $1.47bn.
A $4bn fund in Asia: Debevoise & Plimpton advises Baring Private Equity Asia on weighty fund raise
The Hong Kong office of Debevoise & Plimpton has secured a heavyweight instruction advising Baring Private Equity Asia on the formation of Fund VI, a $4bn fund believed to be the largest private equity fund ever raised by an Asia-based manager and one of the largest targeting the region. Offshore firm Maples and Calder also provided Cayman Islands counsel on the deal.
Q&A: New IBA president Rivkin talks protecting legal privilege and tackling judicial corruption
Debevoise & Plimpton co-head of arbitration David Rivkin has set himself up for a busy two years as the president of the International Bar Association (IBA), the largest legal network in the world with more than 40,000 members, as he seeks to win climate change sufferers refugee status, dent judicial corruption and protect legal independence from government hacking. Rivkin talks to Tom Moore on his plans for the body.
Listing in London: WLG and Travers advise as Gabelli Value Plus raises £100m in IPO
Wragge Lawrence Graham & Co (WLG) has advised new investment trust Gabelli Value Plus on its £100m initial public offering (IPO) on the London Stock Exchange as it targets further work from US fund manager GAMCO Investors.
Sending the ‘right message’: Arthur Cox sees donations rejected by Irish Cancer Society due to client
A leading charity has decided it will no longer accept corporate donations from Big Five Irish law firm Arthur Cox as the firm is currently acting for tobacco giant Japan Tobacco in a dispute against the Irish government.
Significant departures: Milbank hires Linklaters’ global energy co-head in double partner hire
Milbank, Tweed, Hadley & McCloy has hired two leading projects partners from Linklaters‘ London office, Matthew Hagopian and Manzer Ijaz, who count among their clients Glencore, BP and ENI.
Trainee retention: Norton Rose Fulbright publishes spring 2015 retention figures
Norton Rose Fulbright (NRF) has announced an 81% retention rate for its March 2015 qualifying intake, down on the 92% the firm posted for the spring 2014 cohort but an improvement on autumn’s numbers.
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Expanding overseas: Eversheds grows South African offering with new alliance
Eversheds has further extended its presence in South Africa, establishing a new formal alliance with Cape Town firm Walkers, which counts clients including EY, Investec, Standard Bank and Woolworths.
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The £30bn question: Report underlines UK’s status as legal superpower
Modesty should probably preclude Legal Business covering the annual report from TheCityUK on the UK legal services market since it makes heavy use of our statistics but as it takes the time to detail the unsung business success story that is law we’ll take a look.
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It’s the ‘decade of the lawyer’. Law firms beware
Our third annual GC Power List report looks more like a state-of-the profession piece than its two predecessors. While the earlier reports focused on standout individuals, in 2015 we highlight 50 exceptional in-house teams, which inevitably addresses how clients operate.
Even a cursory glance at how these teams have evolved underlines the huge shift that has been taking place in the UK legal profession over the last 15 years: the best in-house legal teams are seizing influence, technical skills and budget, largely from their service providers.
Continue reading “It’s the ‘decade of the lawyer’. Law firms beware”
The A-Teams – In Pursuit of Excellence
The 2015 Legal Business GC Power List puts the strength and depth of top in-house legal teams under the spotlight. With these teams largely forced to re-boot post-Lehman, what does it take to become the best in the business in a risk-driven economy?
In the last two years, Telefónica UK has reduced its reliance on external legal advice to the extent that its spend on law firms has fallen by 66%. Meanwhile, at BT, from which O2 span off in 2001 before being acquired by Telefónica in 2005, commercial external legal spend is down a startling 90% since 2010. Despite this, the volume of legal work required by both telcos hasn’t diminished: it is just being handled more efficiently in-house.
Continue reading “The A-Teams – In Pursuit of Excellence”
Boardroom Horizons: The Market View
Top-level general counsel give their views on what marks out an exceptional in-house legal team in a risk-driven global economy.
Donny Ching, legal director, Royal Dutch Shell… on winning friends and influencing commercial colleagues.
‘You can tell who the really great lawyers are by the way they interact with their business colleagues. Those who are constantly being consulted, being involved as a core member of the team, sometimes leading the negotiations. You can see the dynamics in the discussions and the negotiations – which are the lawyers that are genuinely very respected. And those are the lawyers which are getting the best outcome.’
Benoit Belhomme, general counsel (GC) Western Europe, British American Tobacco… on working in contentious sectors.
‘Like a doctor, you need to understand your patients to give the right remedy. You share the pain as well. Controversial industries like ours tend to have a culture where lawyers are more part of the business. You have to frequently adapt and people know legal is a crucial element to maintain a licence to operate.’ Continue reading “Boardroom Horizons: The Market View”
In-house: Mercedes Benz appoints Nabarro and Shoosmiths to UK legal panel as WLG loses out
Nabarro and Shoosmiths have secured a joint appointment to the legal panel of Mercedes-Benz UK following a competitive tender process, while Wragge Lawrence Graham & Co has failed to win a place.
Beyond the 50
The Power List 2015 settled on 50 exceptional legal teams but there is a wealth of talent in the employed profession. Here we highlight some other strongly tipped corporate counsel.
Capital & Counties Properties
Steadily gaining a reputation in the market is the small but respected legal team at FTSE 250 company Capital & Counties Properties (Capco), a London property company demerged from Liberty International (now renamed Intu Properties) in 2010. Continue reading “Beyond the 50”
Building the team: Olswang hires Winston & Strawn IP duo as its corporate head steps down
Following a somewhat uneven 2014, Olswang has hired an intellectual property partner duo from US firm Winston & Strawn in a bid to boost its City IP offering, while its corporate head Carpanini steps down after eight years.
Leadership: Hogan Lovells re-appoints Nicholas Cheffings as chair
Hogan Lovells has re-appointed London real estate disputes partner Nicholas Cheffings (pictured) as chair of the firm for a second three-year term.
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Of ‘strategic importance’: NRF expands African footprint with two new alliances
Norton Rose Fulbright (NRF) is continuing to expand its offering in Africa and has agreed a strategic alliance with both Ugandan firm Shonubi Musoke & Co Advocates and Zimbabwean firm Gill, Godlonton & Gerrans.
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So long, Magic Circle: Latham sets blistering pace for global elite as 2014 revenues up over $300m
Latham & Watkins‘ global strategy has paid off with its 2014 revenues surging by 14% to $2.61bn in 2014 and making it the largest law firm in the world, an achievement managing partner Bill Voge (pictured) puts down to the recovery of the global M&A market and to clients increasingly using multiple offices across its ‘global footprint’.