High profile lateral moves between some of the largest global law firms last week saw DLA Piper hire a four-strong real estate team from RPC in London led by Stephen Malley; Chadbourne & Parke strengthen its City project finance team with the hire of Shearman & Sterling partner Julien Bocobza; Dentons bring in Clifford Chance (CC) partner Perry Zizzi to head its banking & finance group in Bucharest; with further international hires for Osborne Clarke, Simmons & Simmons and Winston & Strawn. Continue reading “Revolving doors: High profile hires for DLA; Chadbourne; Dentons; Osborne Clarke; Simmons and Winston & Strawn”
‘Private wealth is at the heart of the merger’ – Charles Russell Speechlys talks strategy
As the partnerships of both Speechly Bircham and Charles Russell this week voted ‘overwhelmingly’ in favour of a merger that will create a firm with 170 partners, 500 lawyers and combined revenues of £135m, management at the newly-titled Charles Russell Speechlys are welcoming the prospects of becoming a top 30 UK firm.
Due to go live on 1 November, the union creates a private wealth powerhouse that Charles Russell’s senior partner Christopher Page says is ‘at the heart of the merger’. Continue reading “‘Private wealth is at the heart of the merger’ – Charles Russell Speechlys talks strategy”
Financial results 2013/14: Speechly unveils 1% revenue drop to £56.8m with PEP up 5%
Speechly Bircham has unveiled its financial results for the 2013/14 year, with preliminary figures showing that revenue was down slightly by 1.2% to £56.8m while net profit stands at £11.8m and profit per equity partner (PEP) rose 5% to £312,000. Continue reading “Financial results 2013/14: Speechly unveils 1% revenue drop to £56.8m with PEP up 5%”
Nabarro settles professional negligence claim for £10m
Nabarro has agreed to pay £10m to settle a £130m professional negligence claim brought against the firm by a former client unhappy with its handling of a litigation matter.
Continue reading “Nabarro settles professional negligence claim for £10m”
In-house: BT Global Services GC moves to Serco
UK outsourcing company Serco has hired BT Global Services general counsel (GC) David Eveleigh as its group GC and company secretary.
Continue reading “In-house: BT Global Services GC moves to Serco”
Clyde & Co’s ambitious strategy for China and global arbitration behind double trophy partner hire
Clyde & Co’s ambitious Greater China strategy has been credited with the trophy hire this week of Clifford Chance’s (CC’s) co-head of China litigation and arbitration Patrick Zheng to head its Beijing office, as in the Middle East Eversheds’ regional chairman Christopher Jobson joined as a partner in Abu Dhabi.
The hires form part of the top 15 UK firm’s wider long-term strategy to grow its international arbitration capability, particularly within the emerging markets. Continue reading “Clyde & Co’s ambitious strategy for China and global arbitration behind double trophy partner hire”
Comment: Advice for the new managing partner – don’t consult, just do
Given the amount of time I spend hanging out with managing partners it’s not unusual to be asked by law firms how they could tweak their governance or how they stack up against peers.
In one such recent conversation, I got to thinking about how best to prepare the new managing partner for the culture shock of moving from the clear purpose of a revenue-generating role to the ambiguous job spec of running a law firm. Continue reading “Comment: Advice for the new managing partner – don’t consult, just do”
Real estate: Ashurst and Reed Smith lead on prime £300m New Bond Street acquisition
Ashurst’s head of real estate investment David Jones has advised opposite Reed Smith on the £300m purchase of a 50,000 sq ft strip of prime real estate on New Bond Street, the first time in 40 years that the privately-owned Central London properties have been on the market. Continue reading “Real estate: Ashurst and Reed Smith lead on prime £300m New Bond Street acquisition”
Financial results 2013/14: Travers achieves record turnover up 13% to £97.2m with PEP up 12%
Top 45 LB 100 firm Travers Smith today (17 July) announced its strongest financial results to date, with turnover for the 2013/14 year up 13% to £97.2m – breaking through the £90m mark – while profit per equity partner (PEP) saw an uptick of 12% to £882,000. Continue reading “Financial results 2013/14: Travers achieves record turnover up 13% to £97.2m with PEP up 12%”
Deal Watch: Cleary London advises opposite Paul Hastings Milan on Whirlpool’s $1bn Indesit acquisition
Cleary Gottlieb Steen & Hamilton’s London office has advised Whirlpool, the world’s largest manufacturer of home appliances, on its $1.04bn purchase of a majority stake in Italy’s Indesit as the company looks to expand outside the US. Continue reading “Deal Watch: Cleary London advises opposite Paul Hastings Milan on Whirlpool’s $1bn Indesit acquisition”
Guest post: DRIP – a torrent of mass surveillance seems more likely
Last week, the Home Secretary announced that, with all party agreement, the Data Retention and Investigatory Powers Bill – (DRIP for short) – would be introduced into Parliament. Much of that is covered in the previous post of 10th July. Since then, criticism has mounted in relation to the late introduction of the Bill prior to the summer recess. Continue reading “Guest post: DRIP – a torrent of mass surveillance seems more likely”
Heading to the polls: Charles Russell and Speechly partners to vote today on £126m merger
Speechly Bircham is getting closer to closing its sought-after merger, as its partners and those at Charles Russell are voting today (16 July) on a union that would elevate the combined firm into the top 30 of the LB100.
‘A compelling combination’: Charles Russell and Speechly Bircham say yes to merger
The partnerships of Speechly Bircham and Charles Russell have today (16 July) voted ‘overwhelmingly’ in favour of a merger that will create a firm with 170 partners, a total of 500 lawyers, and combined revenues of £135m, elevating the combined entity into the top 30 of the LB100. The new firm will be called Charles Russell Speechlys.
Comment: Global 100 – a little bit of life before Lehman returns. But only a little
For all the improving signs, glancing at our annual Global 100 report shows headline performance largely comparable with 2013. The group increased billings by 4% to $88.63bn, a rise of 4% and the same growth rate achieved in 2013. Continue reading “Comment: Global 100 – a little bit of life before Lehman returns. But only a little”
‘We’re all struggling with how to capitalise on changes in the global marketplace’ – Simmons’ Hoyland points to Asia for growth
After announcing a return to form financially, with both revenue and profits up for 2013/14, Simmons & Simmons managing partner Jeremy Hoyland says that Asia, at times unprofitable ground for international firms in recent years, is critical to his firm’s strategic development.
Leadership: Latham elects Bill Voge to take over from Bob Dell after eight-month selection process
Following a rigorous eight-month selection process, London-based projects partner Bill Voge has been elected to take over from Latham & Watkins retiring global chair and managing partner Robert Dell, who leaves the firm after two decades in management and an increase in revenue from $260m at the start of his tenure to $2.285bn in the latest financial year. Continue reading “Leadership: Latham elects Bill Voge to take over from Bob Dell after eight-month selection process”
Guest post: Dominic Grieve as Attorney General, 2010-2014
The first time I ran into Dominic Grieve, he made a fool of the Labour shadow justice minister, Paul Boateng. It was in the 1990s, at a Liberty conference on human rights.
Continue reading “Guest post: Dominic Grieve as Attorney General, 2010-2014”
Asia-Pacific: office number 76 for Baker & McKenzie in Brisbane
Baker & McKenzie has opened a third office in Australia, launching in Brisbane as it targets expansion into energy and resource-rich jurisdictions.
Continue reading “Asia-Pacific: office number 76 for Baker & McKenzie in Brisbane”
DLA sees leading criminal litigator Rickards leave for Kingsley Napley
Kingsley Napley has made a key hire to its criminal litigation team, as DLA Piper partner Jo Rickards, who recently represented former News of the World (NotW) editor Andy Coulson in the phone-hacking trial, is set to join the firm this August.
Continue reading “DLA sees leading criminal litigator Rickards leave for Kingsley Napley”
Scottish revival: Growth for Brodies, Maclay and Shepherd as Scots independence vote hangs over recovery
Described last year as both beleaguered and bleak, the Scottish legal market is this year seeing something of a revival as revenue at Maclay Murray & Spens (MMS) – one of the LB 100’s worst performers in 2013 – was last week revealed to have risen by 7% from £40.4m to £43.3m and profit per equity partner (PEP) jump by £50,000 to £261,000, a 24% hike. Continue reading “Scottish revival: Growth for Brodies, Maclay and Shepherd as Scots independence vote hangs over recovery”