General counsel (GC) are increasingly involved in handling cyber security issues at board level, reflecting a more comprehensive shift towards effective risk management, research from Legal Business and PwC has revealed.
Old acquaintances: Stephenson Harwood enters alliance in Guangzhou with former partner’s firm
Following on from closing its office in Guangzhou in Greater China in September this year, Stephenson Harwood has entered an alliance with local firm Wei Tu.
International ambitions: Penningtons Manches launches office in San Francisco
It’s been little over a year since the high profile takeover of Manches by Penningtons, and the combined firm now has its sights set on further expansion having today (10 December) announced the opening of an overseas office in San Francisco’s financial district.
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Selling icons: Linklaters and Michelmores lead on New Scotland Yard sale
The HQ for London bobbies for almost 50 years, Magic Circle firm Linklaters was charged by Abu Dhabi Financial Group to execute the purchase of New Scotland Yard in Victoria for £370m, with national firm Michelmores acting for the seller.
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‘High risk, poorly supervised and inadequately controlled’: CC’s Simon Davis publishes findings on FCA insurance scandal probe
Following the high-profile inquiry carried out by Clifford Chance litigation partner Simon Davis, the keenly awaited report on the Financial Conduct Authority’s (FCA) behaviour in leaking a business plan to The Telegraph has found failures that ‘fell short of the standards expected of those it regulates’.
Rushing to launch: High Court cases for law firm professional negligence claims jump 192% in a year
The number of High Court cases against law firms for professional negligence has almost tripled in the last year, increasing by 192% from 143 the year before to 418.
A $150m award: Baker Botts loses another Russian case as Quinn Emanuel secures pay-out against gas giants
Quinn Emanuel Urquhart & Sullivan‘s Alex Gerbi and Stephen Jagusch have secured a $150m award for Danish engineering firm Core Carbon, with Baker Botts suffering another defeat on behalf of its Russian client base, this time Rosgaz, after recently being on the receiving end of a $50bn award against Russia for the state’s destruction of Yukos.
Guest post: An immigration lawyer reviews Paddington and gives him some advice
Law is pretty abstract. Unlike the role of a doctor or a builder, that of a lawyer is difficult to explain to a young mind. When my children eventually ask me about what I do when I ‘work’ (confusingly simultaneously a place I seem to go to and a thing I do at home; either takes me away from them) my plan is to explain that I help strangers from far off places find new homes. Like Paddington Bear.
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US promotions round: Shearman & Sterling focuses on finance and arbitration with London duo
Mirroring last year, Shearman & Sterling has elected two London associates to partner as part of its promotion round which has seen thirteen made up in total.
Dealwatch: Baker & McKenzie and Ropes & Gray lead on Merck’s $8.4bn superbug takeover
One of the world’s biggest pharma groups, New Jersey-based Merck, instructed an all-female partner team from Baker & McKenzie to help it execute its $8.4bn takeover of Cubist Pharmaceuticals.
Revolving doors: International hires for Allen & Overy, KWM and Morgan Lewis while Gibson Dunn turned to GE
A host of international hires last week saw Allen & Overy (A&O) and Morgan Lewis & Bockius enhance their Frankfurt and Dubai offices respectively while King & Wood Mallesons turned in-house to launch an energy group in Paris and Gibson Dunn & Crutcher hired GE’s executive counsel.
Comment: Bringing greed to law – our part in the profession’s downfall
In our 25-year anniversary coverage, Cass Business School’s Laura Empson repeats a familiar refrain about the negative impact of the legal media on the profession’s values in creating league tables, particularly those on the profitability of law firms.
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‘No one had done it in the London market’: Clifford Chance’s former head of antitrust launches City boutique
Oliver Bretz, former global head of antitrust at Clifford Chance, is leaving after 15 years at the Magic Circle firm to launch a competition boutique in the New Year.
Going in-house: Jardine Matheson hires Linklaters’ Parr as general counsel
It’s one in one out for London-listed conglomerate Jardine Matheson, owner of upmarket UK car dealership Jardine Motors, as the group replaces its retiring general counsel Giles White with his past Linklaters colleague and the firm’s former head of corporate, Jeremy Parr.
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Guest post: Christmas comes early – SFO scores 1st Bribery Act convictions
The SFO has successfully prosecuted its first series of Bribery Act convictions. On Friday the SFO reported that ‘Gary Lloyd West, former Director and Chief Commercial Officer of SAE, James Brunel Whale, former Director, Chief Executive Officer and Chairman of SGG and Stuart John Stone, Director of SJ Stone Ltd, a sales agent of unregulated pension and investment products, were convicted of [a number of offences including] Bribery Act 2010 offences at Southwark Crown Court.’
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Q&A: A&O capital markets co-heads talk innovative solutions and sharing leadership
Six months on from being elected co-heads of Allen & Overy’s (A&O) capital markets global team, David Benton and Simon Hill (pictured) talk about market confidence, current focuses and how Peerpoint is a big part of their future with Legal Business.
Targeting USA: Linklaters reshuffles teams to boost corporate and disputes
Magic Circle firm Linklaters has moved its TMT and tax groups from its commercial division into corporate. The firm has overhauled a three-strand structure – corporate, commercial and finance and projects – in a bid to strengthen its corporate team as the firm looks to crack America.
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Global London: Respected Paris boutique launches City arm to target cross-border deals
French firm AyacheSalama has launched its first international office in the City with four partners as it looks to advise on client investment from London into France more efficiently.
Investing in law: Parabis secures £13m from Duke Street to fund upgrades
Parabis Group has secured a further £13m investment from private equity company Duke Street Capital with the aim to improve IT systems, property and staff.
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Legal Business celebrates 25 years and the profession as well
So, what mattered to you? Twenty five years since Legal Business launched to chronicle the dramatic changes in the legal profession much has changed and yet stays the same. Still, if you were going to launch the first publication to focus on the UK’s commercial legal sector, you couldn’t have picked a better time than 1990.
That decade was an incredible time for the profession. Primed by the twin forces of London’s Big Bang and the equally explosive phenomenon of the newly-merged Clifford Chance (CC), the 1990s had the lot: globalisation, drama, ambition, innovation, mergers, disaggregation, technology, accountants and DLA. Destinies were won and lost. By the end of the decade the profession was different. CC stands out – someone with a longer attention span than I should write a book on the firm in that era – it was an incredible institution, without question then the world’s most influential law firm. Continue reading “Legal Business celebrates 25 years and the profession as well”