Cov-lite, cov-loose and even now cov-lame – in some pockets of the finance market we are back to the boom days. All we need is a couple of headstrong private equity partners to quit Linklaters for a more sponsor-facing platform and we’ll be right back to 2006. On second thoughts… Continue reading “Comment: Whose money making machine? Not all law firms will be richer in a bank-lite world”
Revolving Doors: Strategic UK hires for Irwin Mitchell; Simmons; Speechly and Winckworth Sherwood
A series of lateral hires across the UK last week saw Irwin Mitchell take on a trio of commercial litigation partners from Eversheds, DLA Piper and Matthew Arnold Baldwin (MAB), while Simmons & Simmons bolstered its information technology team with a hire from DLA, and Speechly Bircham and Winckworth Sherwood hired into their planning and real estate practices respectively. Continue reading “Revolving Doors: Strategic UK hires for Irwin Mitchell; Simmons; Speechly and Winckworth Sherwood”
Comment: Shock horror – economic revival makes it as impossible as ever to make partner
It’s not going to come as a huge shock to our readership of jaded veterans to hear this but the 2014 promotion rounds from the UK’s top law firms have confirmed that the striking revival in business confidence over the last 12 months has made pretty much no improvement in partnership prospects. Continue reading “Comment: Shock horror – economic revival makes it as impossible as ever to make partner”
Financial results 2014: double-digit growth in UK as Osborne Clarke unveils 26% turnover rise
Following a year of further international expansion and lateral hires, Osborne Clarke (OC) today (12 May) announced that its global revenue for 2013/14 has jumped by 26% to €169m, thanks to a ‘more confident’ market and its targeted sector focus.
Loss and gain: Ashurst loses City corporate partner as KWM finance partner joins in Sydney
Ashurst yesterday (12 May) saw both sides of the lateral hiring coin as it announced the hire in Sydney of King & Wood Mallesons finance partner Jennifer Schlosser but lost London corporate partner Fabio Pizzoccheri, who has left the firm to launch Grimaldi Studio Legale’s (GSL’s) new City office. Continue reading “Loss and gain: Ashurst loses City corporate partner as KWM finance partner joins in Sydney”
Irwin Mitchell’s outgoing chief executive John Pickering on change in the sector and why it was time to hang up his boots
Announcing his retirement last month, Irwin Mitchell’s longstanding head and current group chief executive John Pickering pointed to ‘the changing legal sector’ and his desire for the firm to have settled long-term senior management.
Speaking to Legal Business, Pickering (pictured), who joined the firm as an articled clerk in 1977 and now plans to pursue non-executive director positions elsewhere, explains his reasoning behind the decision. Continue reading “Irwin Mitchell’s outgoing chief executive John Pickering on change in the sector and why it was time to hang up his boots”
Guest post: Pfizer’s bid for AstraZeneca – what can the government do?
On April 28, Pfizer announced a possible offer to buy AstraZeneca, presumably having thought an announcement was required by rule 2.2 of the Takeover Code. The result is that, under the relatively new ‘put up or shut up’ rule now embodied in rule 2.5 of the Code, Pfizer has until 5 o’clock on May 26 – the 28th day after its announcement – in which to make a firm offer.
Continue reading “Guest post: Pfizer’s bid for AstraZeneca – what can the government do?”
Wedlake Bell’s acquisitive streak continues as Christopher Tite and Louise Gowman join from LG; Clive Thorne from RPC
The recent acquisitive streak by Wedlake Bell has seen the UK top 100 firm bring in legacy Lawrence Graham’s (LG’s) former head of corporate Christopher Tite and projects and infrastructure partner Louise Gowman, alongside RPC IP and technology partner Clive Thorne. Continue reading “Wedlake Bell’s acquisitive streak continues as Christopher Tite and Louise Gowman join from LG; Clive Thorne from RPC”
The Crown Estate’s Peeke to join Land Securities in legal head role
Land Securities, the UK’s largest listed property company, has hired The Crown Estate’s deputy head of legal Alex Peeke as head of legal, taking over the day-to-day conduct of the legal function and operations and reporting to group general counsel (GC) and company secretary Adrian de Souza. Continue reading “The Crown Estate’s Peeke to join Land Securities in legal head role”
Asia: CC’s Charlton on high Asian promotion rate; Winston takes on DLA team; BLP enters Indonesia; Wragge LG ends Singapore tie-up
In a fortnight that has so far seen Winston & Strawn hire a four-strong corporate team from DLA Piper in Hong Kong; Berwin Leighton Paisner enter into an association in Indonesia; and Wragge Lawrence Graham end its association in Singapore with PK Wong & Associates, Clifford Chance’s Asia managing partner Peter Charlton also spoke to Legal Business about the firm’s heavy promotion rate in the region. Continue reading “Asia: CC’s Charlton on high Asian promotion rate; Winston takes on DLA team; BLP enters Indonesia; Wragge LG ends Singapore tie-up”
DLA Piper hires King & Wood Mallesons SJ Berwin private equity partner Tim Wright
DLA Piper has hired King & Wood Mallesons SJ Berwin (KWMSJB) City private equity partner Tim Wright, whose resignation from the partnership was announced internally late yesterday (7 May). Continue reading “DLA Piper hires King & Wood Mallesons SJ Berwin private equity partner Tim Wright”
Barclays high profile Americas chief Michael Crowl set to join UBS
Barclays’ high-profile managing director and general counsel (GC) for the Americas, Michael Crowl, is leaving to head UBS’ US wealth management division, replacing former permanent head Jonathan Eisenberg, who returned to K&L Gates last year. Continue reading “Barclays high profile Americas chief Michael Crowl set to join UBS”
Worth the money: Barclays to introduce value accounts for upcoming legal panel
As Barclays’ long-awaited review of its global legal panel moves closer to completion, it has emerged that the bank is set to shake up how it interacts with its external advisers with the introduction of corporate value accounts.
Continue reading “Worth the money: Barclays to introduce value accounts for upcoming legal panel”
Updated: A&O freezes NQ and trainee pay as it ups associate salaries; Linklaters announces increases across board
Allen & Overy (A&O) revealed today (8 May) that it will hold trainee and newly-qualified (NQ) lawyers’ pay at 2013 levels, while Linklaters has unveiled pay increases for all associates and trainees.
In-house: Sainsbury’s unveils new panel; Lloyds brings in insurance GC; Ladbrokes promotes deputy to GC role
A trio of significant in-house moves and announcements yesterday (6 May) saw King & Wood Mallesons SJ Berwin and TLT awarded a first-time spot on Sainsbury’s latest panel, as Lloyds Banking Group appointed RSM Tenon’s former group general counsel (GC) Joanne Jolly to lead its insurance group and outgoing Ladbrokes GC Jonathan Adelman handed over the reins to his deputy. Continue reading “In-house: Sainsbury’s unveils new panel; Lloyds brings in insurance GC; Ladbrokes promotes deputy to GC role”
Bayer’s $14.2bn acquisition from Merck spins out roles for Sullivan, Fried Frank, Morgan Lewis and Cleary
The $14.2bn acquisition of Merck’s consumer care business by German pharmaceutical giant Bayer has spun out roles for a clutch of leading US law firms, as Sullivan & Cromwell advises longstanding client Bayer opposite Fried, Frank, Harris, Shriver & Jacobson; Morgan, Lewis & Bockius; and Cleary Gottlieb Steen & Hamilton for Merck. Continue reading “Bayer’s $14.2bn acquisition from Merck spins out roles for Sullivan, Fried Frank, Morgan Lewis and Cleary”
Financial results 2013/14: Charles Russell’s revenue up by 7% as Weightmans posts record numbers
The first top 50 firms to unveil their 2013/14 financial results, Charles Russell and Weightmans this week each unveiled a healthy revenue increase of around 7%. Continue reading “Financial results 2013/14: Charles Russell’s revenue up by 7% as Weightmans posts record numbers”
Partner promotions: Watson Farley; RPC; TLT and McCann FitzGerald unveil numbers
Top 50 UK firms Watson, Farley & Williams (WFW) and RPC have unveiled their latest partner promotions, making up 13 and three lawyers respectively, as top 60 firm TLT and leading Irish firm McCann FitzGerald both announced today (7 May) that they have promoted four lawyers. Continue reading “Partner promotions: Watson Farley; RPC; TLT and McCann FitzGerald unveil numbers”
Bleak reading for all but the biggest law firms in latest Law Society statistics report
The squeeze on the legal profession is in evidence in the latest annual statistics report from the Law Society, which reveals the first decline for over 20 years in both the number of practising and non-practising solicitors across England and Wales; a decline in all but the largest private practice firms; and a further drop in the number of lawyers making partner. Continue reading “Bleak reading for all but the biggest law firms in latest Law Society statistics report”
Revolving Doors: White & Case disputes partner joins the Bar as McGuireWoods; Covington and Simmons make key hires
The latest standout lateral moves have seen White & Case litigator Paul Cowen return to the Bar as McGuireWoods expands its City restructuring offering with a hire from DLA Piper, and Covington & Burling and Simmons & Simmons boost their competition groups in Brussels with hires from Clifford Chance (CC) and Olswang respectively. Continue reading “Revolving Doors: White & Case disputes partner joins the Bar as McGuireWoods; Covington and Simmons make key hires”