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Global 100 Arbitration Focus – Battle for the City

London has established an increasingly powerful position as a global arbitration hub. But does it have the facilities to drive forward its growth?

While Russian oligarchs flocking to London’s courts attracted much publicity – and its share of controversy regarding ‘renting’ of British justice – another little-noted boom bringing rich foreign parties to the City to settle disputes is arguably far more significant: the rise of London as an arbitration hub.

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Global 100 Market Comment – Word from the World

From cooling in Asia markets to a resurgence in Europe; from increased deal work to an uptick in banking litigation – Global 100 law firm leaders share their views

A year in two halves

‘It’s been a year of two parts for quite a lot of our practices, with challenging economic conditions in the first half of the year followed by a return of market confidence, and with that the return of transactional activity. That was true across the world.’
Sonya Leydecker, joint chief executive, Herbert Smith Freehills

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Revolving Doors: DLA hires in France and the US; Simmons grows Bristol; Gibson Dunn expands in Beijing and Hong Kong

International expansion last week saw DLA Piper hire Holman Fenwick Willan’s (HFW) Paris head of tax Hervé Israël and bolster its US practice with a double litigation partner hire from Greenberg Traurig, while Gibson, Dunn & Crutcher expanded in Beijing and Hong Kong. Closer to home, Simmons & Simmons bolstered its growing Bristol presence with the hire of Osborne Clarke corporate partner Patrick Graves. Continue reading “Revolving Doors: DLA hires in France and the US; Simmons grows Bristol; Gibson Dunn expands in Beijing and Hong Kong”

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Herbert Smith Freehills launches German competition practice with hire of Taylor Wessing head Michael Dietrich

Herbert Smith Freehills (HSF) has moved one step closer to offering clients a full service out of its still fledgling German offices with the launch of local competition capability led by Taylor Wessing’s former regional practice head Michael Dietrich. Continue reading “Herbert Smith Freehills launches German competition practice with hire of Taylor Wessing head Michael Dietrich”

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Financial results 2013/14: Ashurst unveils post-merger turnover of £586m and PEP of £801k as Simmons reveals return to growth

Ashurst has unveiled its first post-merger financial results, boasting revenues of £586m and a profit per equity partner (PEP) of £801,000. The results come as Simmons & Simmons has  revealed a return to growth in 2013/14 with a 7% rise in revenue to £268.6m for the 12 months to 30 April 2014 and an increase in PEP of 5% to £550,000.

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Taylor Wessing launches US rep offices in Palo Alto and New York

Taylor Wessing on 23 June announced the opening of two representative offices in the US to facilitate access to its European network. Located in tech-focused Palo Alto and New York, both offices are set to open in September this year.

The top 20 firm will not be practising US law, but instead plans to use its new US bases to push out work to its international network across Europe, CEE and Asia.

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Mishcon de Reya sees PEP soar by 16% while Pinsent Masons posts 4.6% revenue increase

Mishcon de Reya has hit its target of £100m in revenues by 2016, with 2013/14 turnover up 18% to £104.6m and profit per equity partner (PEP) up by 16% to £975,000, constituting 107% growth since 2009.

The results come as Pinsent Masons enjoyed an uptick in its financials for a second successive year, with revenue up 4.6% to £323.3m, while profit per lawyer increased by 11% from £40,000 to £44,500. PEP increased 4.7% from £387,000 to £405,000.

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Trust Disputes – The Myth of Trust

Trust disputes can offer advisers a lucrative caseload and longer-term institutional and corporate relationships. Legal Business looks at the key players in a competitive market.

Wealthy business owners tend to have colourful lifestyles, families and ways of protecting their wealth, and these ingredients can often come together to form an explosive cocktail. Take Stanley Ho, the ageing Macau-based billionaire, who has been at the centre of a recent family feud over who would inherit his gambling empire. Having had four wives and 16 children, it was perhaps inevitable that family tensions would trigger incendiary litigation.

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