The long-trailed 2014 budget yesterday (19 March) brought few surprises to the legal business community, although nonetheless some disappointment, as it confirmed that changes to the way limited liability partnerships (LLPs) are taxed will be pushed through in April. Continue reading “A budget for retiring partners and firms moving offices, but disappointing news for LLPs”
Due south: Blake Lapthorn and Morgan Cole announce July merger
While talks of the giant south-east combination between Blake Lapthorn, Boyes Turner and Morgan Cole to create a £100m firm fell through late last year with Boyes Turner withdrawing, Blake Lapthorn and Morgan Cole have announced the two will merge on 1 July to form Blake Morgan, a 120-partner firm with a joint revenue of £72m.
Continue reading “Due south: Blake Lapthorn and Morgan Cole announce July merger”
With an external legal spend in excess of $1bn since 2010, BP launches panel review
Energy giant BP, which has paid around $1bn in external legal fees in relation to the Gulf of Mexico oil spill in 2010, has announced a review of its UK law firm adviser line-up. Continue reading “With an external legal spend in excess of $1bn since 2010, BP launches panel review”
Regions cash in on corporate spike as Wragges sells NEC and DLA Piper floats Manchester’s Boohoo
Two multi-million pound regional deals have been announced in the past week, as Wragge & Co advises Birmingham City Council on the sale of the iconic National Exhibition Centre (NEC) for around £300m and DLA Piper’s Manchester office leads on the £560m float of local success story Boohoo.com. Continue reading “Regions cash in on corporate spike as Wragges sells NEC and DLA Piper floats Manchester’s Boohoo”
Olswang brings in ex-Linklaters Paris TMT head in further hire on the Continent
Olswang has made a further senior TMT lateral on the Continent, boosting its Brussels and Paris practices with the hire of former Linklaters TMT head Sylvie Rousseau. Continue reading “Olswang brings in ex-Linklaters Paris TMT head in further hire on the Continent”
Bakers bolsters City financial services and regulatory capability with hire of RPC team head Steven Francis
Boasting an extensive international network to push its financial services credibility, Baker & McKenzie is also extending its links with industry regulators with its latest City hire of RPC’s head of financial services and regulatory (FSR) group Steven Francis. Continue reading “Bakers bolsters City financial services and regulatory capability with hire of RPC team head Steven Francis”
Partner promotions: Slaughters bucks trend to make up seven London partners
While partnership promotions among the City elite have generally been on the wane in recent years, Slaughter and May has today (19 March) announced the promotion of seven lawyers to its partnership in London, a significant increase on the previous two years which saw only two partners made up. Continue reading “Partner promotions: Slaughters bucks trend to make up seven London partners”
Bonus time: four months on, Barclays GC Hoyt gets £700k in shares in reduced round of payouts
He may have only replaced Mark Harding late last year but Barclays‘ recently appointed group general counsel Bob Hoyt has been awarded more than £700,000 in shares just four months into the role.
‘A good time to take over’: Stephenson Harwood appoints new head of corporate as H1 revenues up by 17%
With Stephenson Harwood’s chief executive Sharon White this month reappointed for a further three-year term, the high profile transactional lawyer has relinquished her dual role as head of corporate to Andrew Edge, who concedes that ‘it is a good time to take over’, with the department’s revenues up by 17% in the first half of the 2013/14 financial year. Continue reading “‘A good time to take over’: Stephenson Harwood appoints new head of corporate as H1 revenues up by 17%”
Adviser reviews: Irwin Mitchell replaced by Shakespeares on National Grid’s UK panel after review
Top 30 LB100 firm Irwin Mitchell has lost its place on energy giant National Grid’s legal panel, following a review by UK general counsel and company secretary Karen Clayton. Continue reading “Adviser reviews: Irwin Mitchell replaced by Shakespeares on National Grid’s UK panel after review”
IPO Fever: Just Eat float gifts Herbert Smith Freehills and Linklaters with £700m listing
With Pets at Home and Poundland having only days ago made their London Stock Exchange debut, Just Eat yesterday (17 March) announced its intention to float, gifting Herbert Smith Freehills (HSF) and Linklaters with a high profile corporate mandate valued at between £700m to £900m. Continue reading “IPO Fever: Just Eat float gifts Herbert Smith Freehills and Linklaters with £700m listing”
Oil and gas: Slaughters, Linklaters and Hengeler act on €5.1bn sale of RWE Dea
With large deals in the oil and gas sector still often struggling to get away, RWE’s €5.1bn sale of its upstream oil and gas business RWE Dea to Russian billionaires Mikhail Fridman and German Khan has gifted Slaughter and May, Hengeler Mueller and Linklaters with major corporate mandates, as the deal is already touted to be one of the most significant of the year. Continue reading “Oil and gas: Slaughters, Linklaters and Hengeler act on €5.1bn sale of RWE Dea”
Comment: The road to equity – a difficult journey, an uncertain destination
The legal profession is going through a period of dramatic and profound change, and the forces driving these changes are having far-reaching consequences on the industry. The roles and responsibilities of the equity partner are not immune from these forces, and are evolving and expanding in response. For many this is creating great ambiguity, while others are seizing the opportunity. Continue reading “Comment: The road to equity – a difficult journey, an uncertain destination”
Asia moves: Hires for BLP, Milbank and Rajah & Tann as Harneys launches in Singapore
Ever active, the legal market in Asia has seen a number of high profile hires and losses over the past week, including Norton Rose Fulbright asset finance partner Nigel Ward’s move to Berwin Leighton Paisner (BLP), Milbank, Tweed, Hadley and McCloy’s hire in Singapore of Stephenson Harwood’s global head of aviation Paul Ng, and offshore firm Harneys Westwood & Riegels expansion into Singapore. Continue reading “Asia moves: Hires for BLP, Milbank and Rajah & Tann as Harneys launches in Singapore”
Revolving Doors: Capsticks hires BBC’s head of competition as Field Fisher, Kennedys and TLT bring in laterals
After a week that saw Field Fisher Waterhouse (FFW), Kennedys and TLT all make significant hires into their City bases, one of more unusual hires of the past few days was leading healthcare firm Capsticks’ recruitment of the BBC legal department’s head of competition and regulatory team, Noel Watson-Doig. Continue reading “Revolving Doors: Capsticks hires BBC’s head of competition as Field Fisher, Kennedys and TLT bring in laterals”
In-house: Virgin Media completes leadership reshuffle with new general counsel as Weight Watchers unveils its new GC
Home entertainment company Virgin Media has completed the overhaul of its executive following its £15bn acquisition by Liberty Global in 2013, announcing Mine Hifzi as its general counsel today (17 March).
Addleshaws begins management elections as Devitt stands down early
Addleshaw Goddard has started the week with news that managing partner Paul Devitt is to step down early, while partners are up in arms over miscalculated partner profit points and it has resigned itself to losing out on recovering a signifcant success fee.
The top 25 LB100 firm confirmed this morning (17 March) that Devitt is to stand down a year before his tenure is due to end on 30 April 2015, kick-starting an election process to ‘coincide with the next iteration’ of the firm’s strategy.
Continue reading “Addleshaws begins management elections as Devitt stands down early”
Scottish union – Berrymans Lace Mawer ties up with HBM Sayers
The toll of top UK law firms opening in Scotland increased today (17 March) with the announcement that Berrymans Lace Mawer and HBM Sayers are combining to create a £100m risk and insurance-focused firm with 170 partners. Continue reading “Scottish union – Berrymans Lace Mawer ties up with HBM Sayers”
DLA and Weil lead on Vodafone’s €7.2bn acquisition of Grupo Corporativo Ono
Vodafone has turned to DLA Piper for its latest major M&A deal: the €7.2bn acquisition of Grupo Corporativo Ono, with Weil, Gotshal & Manges leading for the Spanish cable company’s principal shareholders. Continue reading “DLA and Weil lead on Vodafone’s €7.2bn acquisition of Grupo Corporativo Ono”
You win some you lose some: Skadden’s client bows out of $1.7bn Amcol bidding war as $1bn Chiquita/Fyffes merger goes through
The month-long bidding war between French minerals company Imerys and New York’s Mineral Technologies (MT) for Amcol International this week saw Skadden, Arps, Slate, Meagher & Flom lose out to Cravath, Swaine & Moore as MT’s $1.7bn offer saw its competitor finally bow out of the frame. Although of significant consolation to the top five Global 100 firm is its second billion dollar deal of the week: the merger of client Chiquita with its rival, world renowned banana brand Fyffes. Continue reading “You win some you lose some: Skadden’s client bows out of $1.7bn Amcol bidding war as $1bn Chiquita/Fyffes merger goes through”