Building on its existing offices in the Silicon Valley and New York, Osborne Clarke (OC) is rolling out its strategy of providing European legal advice to digital businesses in the US with the launch of a new San Francisco base, which office head Steve Wilson says will help the firm engrain itself in the area’s budding digital business community. Continue reading “‘Definitely more interest in the EU’ – OC’s Silicon Valley head talks San Francisco launch and US strategy”
Skadden latest US firm to enter Seoul after obtaining local licence
Skadden, Arps, Slate, Meagher & Flom has announced it is opening in Seoul, South Korea, joining a growing number of UK and US firms who have already entered the market. Continue reading “Skadden latest US firm to enter Seoul after obtaining local licence”
RBS: some recovery in sight but weak demand and 5,000 surplus solicitors still define turbulent legal market
Disaggregated, wrestling with tight margins, reliant on defensive mergers and probably still with more than 5,000 un-needed solicitors in England and Wales – the good news is that there actually is some good news in a new report on the profession from the Royal Bank of Scotland (RBS).
Irwin Mitchell replaces overdraft facility with £60m finance package
Irwin Mitchell has secured a £60m four-year finance package with an additional £30m ‘accordion’ facility with HSBC, Lloyds and Royal Bank of Scotland to fund its strategic plan to grow its business ‘substantially’. Continue reading “Irwin Mitchell replaces overdraft facility with £60m finance package”
Rise of the accountants: EY appoints Addleshaws corporate chief to establish UK legal capability
Global accountancy giant EY has hired Addleshaw Goddard’s corporate managing partner Philip Goodstone in a bid to build up its UK legal credentials.
A&O duo at risk of SRA investigation after criticism of Dahdaleh conduct
Two senior litigators from Allen & Overy (A&O) face the possibility of an investigation by the Solicitors Regulation Authority (SRA) following allegations of misconduct during a high profile fraud case. Continue reading “A&O duo at risk of SRA investigation after criticism of Dahdaleh conduct”
Profile: Andrew Whittaker and Kate Cheetham, Lloyds Banking Group
The bank’s group and deputy GCs discuss the split of Lloyds and TSB, and helping Lloyds’ efforts to rebuild trust after the banking crisis.
When Andrew Whittaker joined Lloyds Banking Group as group general counsel (GC) in May 2013, the message to the market behind his move following a 13-year stint as GC of the UK’s Financial Services Authority (FSA) was not lost.
The trend towards embracing regulatory skills (think now-departed FSA chief executive Hector Sants’ appointment as compliance head at Barclays) came as the major high street bank continued to deal with the fallout of the financial crisis, which for Lloyds meant a multi-billion pound bail-out by the UK government. That is to say nothing of its implication in payment protection insurance mis-selling and ongoing investigations into its involvement in alleged Libor rigging.
Continue reading “Profile: Andrew Whittaker and Kate Cheetham, Lloyds Banking Group”
Post Excalibur litigation victory, Gulf Keystone enters the main market led by Memery Crystal
The sometimes nail-biting growth of independent oil and gas exploration companies was illustrated this week with the entry onto the London Stock Exchange (LSE) of Gulf Keystone Petroleum, led by City firm Memery Crystal, just months after the company successfully defeated a $1.6bn claim by Excalibur Ventures in one of the biggest cases of 2013. Continue reading “Post Excalibur litigation victory, Gulf Keystone enters the main market led by Memery Crystal”
When futurology becomes reality – LexisNexis gains ABS licence to launch compliance service
The UK arm of legal publishing giant LexisNexis has been awarded an alternative business structure (ABS) licence by the Solicitors Regulation Authority and hired Duane Morris compliance and technology partner Jonathan Armstrong to spearhead its new business, Cordery Compliance. Continue reading “When futurology becomes reality – LexisNexis gains ABS licence to launch compliance service”
‘We have always been committed to growing our presence there’ – Trowers expands lower cost Birmingham site
Only shortly in the wake of the announcement that Hogan Lovells is to launch a low-cost nearshoring venture in Birmingham, Trowers & Hamlins has said it is to build up its existing Birmingham base with the relocation of three public sector City lawyers. Continue reading “‘We have always been committed to growing our presence there’ – Trowers expands lower cost Birmingham site”
Noerr cites uptick in cross-border work for revenue growth of 12.3% to €190.8m
German independent Noerr has posted a record turnover of €190.8m for 2013. The Munich-headquartered firm’s revenue grew by 12.3% from €170m in 2012, although turnover in its Central and Eastern European offices fell by around 3% to €26.3m, the firm said today (26 March).
Continue reading “Noerr cites uptick in cross-border work for revenue growth of 12.3% to €190.8m”
Clifford Chance’s third-party £130m professional negligence claim settles
The high profile £130m derivatives dispute between JP Morgan and German public transport provider BVG, during which Clifford Chance (CC) was brought in as a third-party defendant over allegations of professional negligence, has settled. Continue reading “Clifford Chance’s third-party £130m professional negligence claim settles”
Guest Post: Three Leading Indicators of Failure
Can you remember a time when there was so much talk of more BigLaw firm failures? I can’t.
Count yourself a believer or a sceptic (and there are hard core advocates on both sides, including gleeful cheerleaders in the first camp and diehard deniers in the second camp), this is a new phenomenon on our landscape. Continue reading “Guest Post: Three Leading Indicators of Failure”
Latham bolsters City arm with hire of partner Lucy Oddy as BLP finance departures keep coming
Berwin Leighton Paisner (BLP) structured finance partner Lucy Oddy is set to join Latham & Watkins, representing a further City partner hire for the acquisitive US firm and further fallout from BLP’s beleaguered finance team. Continue reading “Latham bolsters City arm with hire of partner Lucy Oddy as BLP finance departures keep coming”
Former Shell legal head Rees joins Thirty Nine Essex Street
With the global arbitration market currently powered by a string of high stakes energy disputes, Thirty Nine Essex Street Chambers looks to have secured itself a trophy tenant with the London set this morning announcing the arrival of former legal director of Royal Dutch Shell Peter Rees QC. Continue reading “Former Shell legal head Rees joins Thirty Nine Essex Street”
Capital call on salaried partners at Weightmans and Addleshaws in response to impending LLP tax overhaul
The tally of City firms calling on salaried partners to increase their capital investment in response to new HM Revenue & Customs (HMRC) rules is growing as Weightmans and Addleshaw Goddard this week confirmed they are in the process of significantly raising contribution levels. Continue reading “Capital call on salaried partners at Weightmans and Addleshaws in response to impending LLP tax overhaul”
Revolving Doors: Key hires for Mishcon, Penningtons Manches, DWF and TLT as NRF loses head of planning
With the blurring between criminal and civil law becoming ever more prominent, Mishcon de Reya announced last week that Alison Levitt QC, the principal legal adviser to the Director of Public Prosecutions (DPP) of England and Wales, is to join the firm as a dispute resolution partner, as other firms to announce key hires over the past few days include TLT, DWF and BrookStreet des Roches. Continue reading “Revolving Doors: Key hires for Mishcon, Penningtons Manches, DWF and TLT as NRF loses head of planning”
New chair for Legal Services Board at ‘key point in development of legal services market’
The Legal Services Board (LSB) has brought in a former chief executive of Cheshire and Kent County Councils, Sir Michael Pitt to succeed David Edmonds CBE as chairman when his second term expires on 30 April 2014. Continue reading “New chair for Legal Services Board at ‘key point in development of legal services market’”
Transatlantic private equity house GI Partners appoints new general counsel
Transatlantic mid-market private equity firm and UK pub owner GI Partners has announced the appointment of new general counsel (GC) and chief compliance officer (COO) David Smolen, who joins from US technology investor Silver Lake, where he was senior counsel and COO. Continue reading “Transatlantic private equity house GI Partners appoints new general counsel”
Barclays to offer 80 work experience places as high street bank mulls apprenticeship scheme
Barclays’ in-house legal team is to offer around 80 work experience placements to students from socio-economic groups under-represented in the legal profession in partnership with its panel law firms this summer. Continue reading “Barclays to offer 80 work experience places as high street bank mulls apprenticeship scheme”