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Comment: Magna Carta, bribery and a bit of confusion – Global Law Summit starts the countdown

It turns out that hundreds of years of legal history waits not even for Bob Crow so Thursday evening (6 February) saw an opening countdown to the planned Global Law Summit, the sort of Government-backed venture to celebrate the Magna Carta, English traditions of rule of law and the UK’s role as a legal services leader.

As such, a sizeable group of senior figures from across the profession braved a grid-locked London and variable security arrangements at Mansion House to hear a debate on bribery law and flag up the Global Law Summit planned for next year to mark 800 years of the drafting of Magna Carta. Continue reading “Comment: Magna Carta, bribery and a bit of confusion – Global Law Summit starts the countdown”

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Cost cutting and near-shoring – Field Fisher Waterhouse ties up with Manchester’s Heatons

Following last year’s announcement from Field Fisher Waterhouse that it was looking to move a number of its London support functions to Manchester in a bid to cut costs, the top 40 LB100 has merged with local boutique Heatons.

Field Fisher’s partnership voted last week to merge with Heatons, which specialises in real estate, corporate and intellectual property. In 2006 the now single-site Manchester firm lost its Birmingham office to Clarke Willmott, leaving it with just 12 fee earners at the time including three partners, which has subsequently dropped to eight fee earners, led by managing partner Matthew Fleetwood. Continue reading “Cost cutting and near-shoring – Field Fisher Waterhouse ties up with Manchester’s Heatons”

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Seoul searching: Stephenson Harwood hires DLA Piper’s South Korea head Michael Kim

With five of its nine overseas offices in South and East Asia, it is perhaps unsurprising that Stephenson Harwood has become the latest UK firm to make plans to open in the burgeoning Seoul market, with the hire of DLA Piper’s local office head and litigation partner Michael Kim.

Kim brings with him a developed reputation in South Korea and experience in shipping, ship finance, shipbuilding and offshore and general commercial litigation and arbitration matters.

However, the top 35 UK firm today (7 February) announced that it has yet to apply for a license to set up in Seoul and Kim will be based in London initially, in the anticipation of relocating to its latest Asian outpost when permission is granted. Continue reading “Seoul searching: Stephenson Harwood hires DLA Piper’s South Korea head Michael Kim”

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LLP latest: Mayer Brown sees revenue dip by 9.5% as Pinsents gains £20m from McGrigors merger

Mayer Brown has released its LLP results for the year ending 2012/13 for the UK business, reporting a 9.5% loss in revenues while profits are down by 5.5%.

The top 30 Global100 firm’s UK results filed with Companies House on 3 February show its turnover dropped from £105.9m in 2012 to £95.8m last year. Profits also dropped from £22m to £20.8m over the same period, while its operating profits fell from just under £31m in 2012 to £29.1m in 2013.

The firm’s net debt however, also fell to £25.6m in 2013 from nearly £34m in the previous year. Continue reading “LLP latest: Mayer Brown sees revenue dip by 9.5% as Pinsents gains £20m from McGrigors merger”

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Remaking legal education – after 18 years at Europe’s largest law school, Savage confirms retirement

In a career spanning dead-end jobs and the upper echelons of the global legal market, Nigel Savage, the man who almost certainly did more than any other individual to shake up legal education in the UK, has announced his retirement.

In a statement issued today (6 February), Savage confirmed his retirement as the president and provost of the University of Law after 18 years heading the institution. He stands down from 1 April 2014 to be succeeded by chief executive John Latham. Continue reading “Remaking legal education – after 18 years at Europe’s largest law school, Savage confirms retirement”

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In-house: BT selects Axiom to replace UnitedLex as new LPO provider

An innovator long at the vanguard of transforming the traditional in-house legal function, BT has just entered into a three-year contract with Axiom to provide legal support services across the UK, US, Africa, Middle East and Asia, replacing a contract formerly held by legal process outsourcing (LPO) provider UnitedLex.

All work previously undertaken by UnitedLex, which includes 30% of BT’s global services division’s legal work in the UK, transferred to Axiom on 1 February after a successful tender process that concluded towards the end of last year. Continue reading “In-house: BT selects Axiom to replace UnitedLex as new LPO provider”

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Revolving Doors: Key transactional and antitrust hires for Bakers, Bird & Bird, K&L Gates, Trowers, Reed Smith and Mayer Brown

With transactional activity on the rise international firms including Bird & Bird, K&L Gates, Trowers & Hamlins and Reed Smith have bolstered their European corporate and banking capability, while Baker & McKenzie and Mayer Brown have made appointments in the buoyant pharmaceutical and antitrust sectors respectively.

In London, Bakers on Monday (3 February) announced the hire of highly rated pharmaceutical lawyer Julian Thurston, a former partner and consultant at Morrison & Foerster, who joins the firm’s 450-lawyer global pharmaceutical and healthcare industry group as a consultant. Continue reading “Revolving Doors: Key transactional and antitrust hires for Bakers, Bird & Bird, K&L Gates, Trowers, Reed Smith and Mayer Brown”

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USP: PwC to expand legal services with ‘under one roof’ pitch as LLP results show legal revenue up

PwC has plans to grow its legal services capability and promote to clients the obvious advantages of providing business and legal advice under one roof, after the Big Four accounting giant last week became the first of its direct competitors to secure alternative business structure (ABS) status from the Solicitors Regulation Authority (SRA).

The firm announced on 31 January that it had received authorisation from the SRA to convert to an ABS, enabling it to own PwC Legal and consolidate its global network of over 2,000 lawyers, working in a far more joined up fashion with its legal arm. Continue reading “USP: PwC to expand legal services with ‘under one roof’ pitch as LLP results show legal revenue up”

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‘Go on, have a go’ – TLT partner joins DWF drawn by ‘huge number of opportunities’

The momentum and energy surrounding DWF’s rapid growth has been credited for its latest hire, TLT corporate partner Richard Tall, who arrived in the London office this month with two associates, bringing the top 30 firm’s national corporate practice to 31 partners.

Acting for bidders, targets and financial advisers including major listed companies, Tall (pictured), who joins with solicitors Joe Cobley and Caroline Urban, has experience in schemes of arrangement and rule 9 dispensations under the Takeover Code, as well as securities offers from unlisted bond issues to the Official List. Continue reading “‘Go on, have a go’ – TLT partner joins DWF drawn by ‘huge number of opportunities’”

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Guest post: The New World of Legal Work vs Global Behemoths

There’s an interesting tension between Sir Nigel Knowles prediction of legal behemoths straddling the globe with investment bankers outriders (or is it the other way round) whilst the remainder squabble over the scraps, downsize or fail (I may have sexed it up a bit, which it does not need; it’s a very interesting piece) and Jordan Furlong’s New World of Legal Work (a supercharged, short Susskind-esque parlez with the world of legal work in 2020 where firms are expected to be smaller). It too is an excellent read.

Let me pick up some of Jordan’s key points: Continue reading “Guest post: The New World of Legal Work vs Global Behemoths”

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Legal innovation – Connect2Law’s Jabbari to join Parabis to extend ABS portfolio and set up regional network

Just weeks after resigning from Manchester-based consumer services and personal injury (PI) firm Pannone following its £33m acquisition by ASX-listed Slater & Gordon, the firm’s former executive board member and chief executive of Connect2Law David Jabbari has joined Parabis as a partner.

At Parabis, which last month partnered with Direct Line Group as the insurance giant obtained authorisation from the Solicitors Regulation Authority to become an Alternative Business Structure, Jabbari (pictured) will establish a Connect2Law-style branded network of leading regional law firms in the UK. Continue reading “Legal innovation – Connect2Law’s Jabbari to join Parabis to extend ABS portfolio and set up regional network”

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In-house lawyers to be affected by impact of ABS as hundreds of corporates consider conversion

Up to 700 companies, public authorities and charities could currently be considering the business case for applying to become an Alternative Business Structure (ABS) according to a report commissioned by the Solicitors Regulation Authority (SRA) on the in-house market.

Published yesterday (4 February), the report, simply called ‘the role of in-house solicitors’, surveyed over 2,000 in-house solicitors as well as 213 representatives from organisations employing in-house solicitors. Continue reading “In-house lawyers to be affected by impact of ABS as hundreds of corporates consider conversion”

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LLP latest: SJ Berwin, Squire Sanders and Irwin Mitchell file results

The last LLP filings of SJ Berwin in the financial year before its merger with King & Wood Mallesons reveal that the firm’s revenue in 2012/13 increased by 1.7% to £182.9m compared to the previous financial year which stood at £179.9m. Profits available to be shared among members dropped by 6% to £46.3m from £49.1m.

The firm released an unaudited turnover of £184.6m during the financial reporting season last summer, which was an increase of 2% from its previous reported revenue. Continue reading “LLP latest: SJ Berwin, Squire Sanders and Irwin Mitchell file results”

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European expansion – A&O launches in Barcelona with hire of Freshfields partner

Allen & Overy (A&O) has pointed to the growth and profitability of its Madrid office and the recovery of the Spanish economy for its decision to launch in Barcelona, with the hire of local corporate partner Antoni Valverde from rival firm Freshfields Bruckhaus Deringer, announced today (4 February).

Valverde, who made partner at Freshfields in 1997 and became co-head of the firm’s private M&A group from 2001 to 2009 and the leader of the Spanish corporate group from 2007 to 2010, focuses on private M&A and has acted for some of the key Spanish players on outbound M&A, including acting for Barcelona-based infrastructure operator Abertis on the €1.5bn acquisition of OHL Brazil in August 2012. Continue reading “European expansion – A&O launches in Barcelona with hire of Freshfields partner”

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LLP latest: DLA Piper’s net debt down 32% as RPC posts 21% increase in fee income

DLA Piper International’s net debt decreased by 32% while cash in the bank dropped almost 15% according to its most recent limited liability partnership (LLP) filed at Companies House.

Net debt was down from £47.5m at the end of 2011/12 to £32.4m at the end of last financial year, with the 4036-lawyer firm’s cash position also down from £35m to £29.9m.

Turnover at DLA Piper International – which includes all the firm’s activities outside the US including its share of joint ventures – increased from £788m in 2011/12 to £800.4m in the last financial period, while profit available for discretionary allocation among members dropped almost 3% from £269m to £261.5m during that period. Continue reading “LLP latest: DLA Piper’s net debt down 32% as RPC posts 21% increase in fee income”

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Professional negligence – Matthew Arnold & Baldwin to appeal against dismissal of £10m claim against Watson Farley

Matthew Arnold & Baldwin has said its client plans to appeal against the High Court’s decision last week to dismiss a £10m professional negligence claim against Watson, Farley & Williams.

In a case heard in London’s High Court last Friday (31 January), Mr Justice Silber dismissed a counterclaim from former Watson Farley client Itzhak Ostrovizky, who sought damages on the basis of negligence and/or breach of duty of Greek-qualified corporate partner Virginia Murray in the Athens office of the top 40 firm. Continue reading “Professional negligence – Matthew Arnold & Baldwin to appeal against dismissal of £10m claim against Watson Farley”

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Updated: Management shake up for DLA Piper as Knowles takes over as global co-chair and Levine put forward for co-CEO role

DLA Piper’s co-chief executive (CEO) Nigel Knowles is to replace Tony Angel as global co-chairman in a senior management shake-up which has also seen London IP and technology partner Simon Levine proposed as global co-CEO, partners at the firm heard this afternoon (4 February).

Current Americas co-chair and corporate and finance practice head Roger Meltzer has been put forward to sit alongside Knowles (pictured) in the global co-chair role, while, Americas co-chair Jay Rains has been proposed as joint global CEO alongside Levine.

Former Linklaters managing partner Angel will continue as senior partner until his term expires in 16 months as the international managing partner role which Knowles currently holds will be phased out.

Levine’s recommendation, which has been put forward by the executive board, needs to be approved by the international partnership and will take effect from 1 January 2015. Continue reading “Updated: Management shake up for DLA Piper as Knowles takes over as global co-chair and Levine put forward for co-CEO role”

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M&A: Davis Polk and Latham advise on Smith & Nephew’s $1.7bn acquisition of Arthrocare

In the third largest M&A deal in the UK this year after Liberty Global’s $10bn takeover of Ziggo and Amec’s $2.7bn acquisition of Foster Wheeler, Davis Polk & Wardwell is advising Smith & Nephew on its $1.7bn acquisition of Texas-based medical device company ArthroCare opposite Latham & Watkins.

The Davis Polk team includes corporate partners George Bason and Michael Davis, along with Jeffrey Crandall who is providing executive compensation advice. Partners Ronan Harty and Kathleen Ferrell are providing antitrust and tax advice respectively. Davis Polk is advising from its New York and Washington offices. Continue reading “M&A: Davis Polk and Latham advise on Smith & Nephew’s $1.7bn acquisition of Arthrocare”

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You’re hired: Irwin Mitchell’s head of regulatory investigations joins Morgan Lewis

Morgan Lewis has boosted its London white collar crime capability with the hire of Irwin Mitchell’s head of regulatory and criminal investigations practice Kevin Robinson, in a move said to be part of the ‘ongoing transformation’ of its London office.

Robinson, who has over 40 years of experience in advising clients on investigations by regulators into commercial activity and defending prosecutions which arise from those investigations, joins the global top 20 US firm’s London litigation department. Continue reading “You’re hired: Irwin Mitchell’s head of regulatory investigations joins Morgan Lewis”

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Risk and regulatory: NRF launches a 600-lawyer global regulation and investigations practice

The increasingly wide-ranging and cross-departmental regulatory needs of clients sees Norton Rose Fulbright (NRF) today (3 February) launch a 600-lawyer international global regulation and investigations practice led by former Fulbright & Jaworski disputes partner and investigations head Lista Cannon and global antitrust chief Martin Coleman.

The 130-partner team will connect global practices including antitrust and competition (led by Coleman); financial services regulation (led by Jonathan Herbst); investigations (including bribery and corruption and international trade and sanctions, led by Cannon); and tax (led by global head Andrius Kontrimas). Continue reading “Risk and regulatory: NRF launches a 600-lawyer global regulation and investigations practice”