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Asia-Pacific: Clydes eyes further China expansion as it hires Eversheds Asia employment head

Clyde & Co has further expanded its China operations with the hire of Eversheds’ Asia head of employment Iris Duchetsmann to lead its Shanghai office.

Duchetsmann will focus on expanding the firm’s regional employment law capabilities, its overall China offering and comes with a particular focus on cross-border issues and international human resources management.

Also joining Clyde’s Shanghai office are three employment associates from Eversheds – Lisa Li, Cynthia Zheng and Vivien Xu – bringing the lawyer headcount up to 23 and five partners in total.

Continue reading “Asia-Pacific: Clydes eyes further China expansion as it hires Eversheds Asia employment head”

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King & Wood Mallesons reshuffles management team again following partner exit

King & Wood Mallesons (KWM) has made another change to its practice management team just months after restructuring its leadership following its merger with SJ Berwin in November. Legacy SJ Berwin partner Craig Pollack was today (7January) named as its new global co-ordinator for dispute resolution replacing Beau Deleuil, who left KWM a month after the merger to join Quinn Emmanuel Urquhart & Sullivan’s Sydney office.

Pollack is already on the international management committee as an alternate and will continue as head of the Europe and Middle East dispute resolution practice. Alex Leitch will take over from Pollack as the new London head of dispute resolution. Continue reading “King & Wood Mallesons reshuffles management team again following partner exit”

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Barely into 2014 another PE house bets on law as Permira puts £122m into LegalZoom

It’s a deal that brings together one of the most touted ‘alternative’ legal service providers with one of Europe’s top private equity investors – just a few days into 2014. The announcement this week that Permira is investing over £100m in LegalZoom is a reminder of the growing interest from financiers in the legal sector.

Fried Frank Harris Shriver & Jacobson advised European private equity house Permira on the £122m investment in US-based LegalZoom making it the largest shareholder in the much-tipped online legal document company.

Continue reading “Barely into 2014 another PE house bets on law as Permira puts £122m into LegalZoom”

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Mid-market feeding frenzy: Addleshaw, Bristows, Field Fisher and Irwin Mitchell unveil lateral hires

The New Year lateral hiring spree has gathered momentum, with Addleshaw Goddard, Irwin Mitchell, Bristows and Field Fisher Waterhouse all announcing new acquisitions today (7 January).

Leeds-based Bill Gilliam will join Addleshaw’s commercial litigation team as a partner after 20 years at Eversheds, where he was head of healthcare and life sciences. His experience includes a secondment as acting head of legal in the commercial directorate of the Department of Health, and cases include procurement disputes for Covent Garden Market Authority and Roche Diagnostics, as well as assisting with the Mid-Staffordshire Inquiry. Continue reading “Mid-market feeding frenzy: Addleshaw, Bristows, Field Fisher and Irwin Mitchell unveil lateral hires”

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CC formally launches ‘first-of-its-kind’ Saudi partnership but Riyadh remains a tough nut to crack

Clifford Chance today (6 January) formally announced the launch of its joint Saudi and foreign-owned law firm in Riyadh, boasting an institutionalised career path for Saudi lawyers as it becomes the first international firm to establish an integrated partnership in the Kingdom.

The transactional lawyers of Al-Jadaan & Partners, Khalid Al-Abdulkareem and Abdulaziz Al-Abduljabbar, join Clifford Chance as partners to create a five-partner team alongside English lawyers Omar Rashid, Paul Latto and office head Tim Plews. Continue reading “CC formally launches ‘first-of-its-kind’ Saudi partnership but Riyadh remains a tough nut to crack”

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Asia-Pacific: Pinsents continues expansion with high-profile appointments in Singapore and Shanghai

Pinsent Masons has continued to develop its Global 100 credentials, this time bulking up its Asia-Pacific corporate capability with the hire of a three-partner team in Singapore from leading local firm KhattarWong and a further senior appointment in Shanghai from SJ Berwin (now part of King & Wood Mallesons). These latest appointments add to a number of key hires made by Pinsents in the region over the course of last year.

In Singapore, partners Perry Yuen, Kelvyn Oo and Bethia Su will join the firm from KhattarWong’s general corporate and commercial advisory practice in early 2014 along with up to five associates.

Continue reading “Asia-Pacific: Pinsents continues expansion with high-profile appointments in Singapore and Shanghai”

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Revolving doors: HSF loses Perth mining head to Australian rival

Having completed a crucial overhaul of its management and remuneration structures towards the end of 2013, Herbert Smith Freehills (HSF) would have hoped to get 2014 off to a positive start but has instead suffered another setback, with news that the head of the firm’s mining practice in Perth, Justin Little, will join independent Australian outfit Gilbert + Tobin.

Little will join the Perth office of Gilbert + Tobin in its energy and resources practice. He is a member of the Australian Mining and Petroleum Law Association and has extensive experience advising Australian publically listed mining and resources companies, including BHP Billiton and Rio Tinto, on M&A transactions and equity fundraisings.

Continue reading “Revolving doors: HSF loses Perth mining head to Australian rival”

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New Year, new job: Hogan Lovells boosts global partnership by 29 in latest promotion round

Hogan Lovells has increased the number promoted to partnership this year to 29, of which 11 made the cut in its City office.

Effective since 1 January, the promotions are spread throughout multiple practice areas, including disputes (7), corporate (7), finance (5), government regulatory (5), and intellectual property (5) – equating to 13 promotions in Europe across Frankfurt, London and Paris; 15 in the US across Denver, Houston, New York, and Washington DC; and one in Asia in Beijing.

In addition to the 29 new partners, 38 new appointments to the role of counsel, consultant or of counsel have been made. Continue reading “New Year, new job: Hogan Lovells boosts global partnership by 29 in latest promotion round”

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LLP filings 2012/13 – Nabarro’s highest earner sees pay increased by 31%

Following a seven-month period in which its year-end profitability rose significantly but its half-year revenue was flat, top 30 LB100 firm Nabarro today (6 January) filed its limited liability partnership (LLP) accounts for the 2012/13 year, unveiling a 31% pay increase for its top fee-earner and a 13% drop in partner numbers.

The firm’s LLP accounts filed at Companies House show that the highest pay taken home by a member for the year was £635,000; up from £486,000 in the 2011/12 financial year. Continue reading “LLP filings 2012/13 – Nabarro’s highest earner sees pay increased by 31%”

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Merger watch – 2013 a record year for legal mergers as 2014 promises more of the same

The long-awaited consolidation of the legal market accelerated in 2013, which was a record year for large UK law firm mergers, with 28 deals announced involving at least one top 100 UK firm or firms that when merged will be likely to join the top 100 in 2014.

This follows a similarly record year in 2012, when there were 26 announced mergers involving at least one top 100 UK law firm.

Recent research by Jomati Consulting, which claims that 2014 promises further high levels of consolidation, points to a number of strategic patterns in evidence over the past year, including the emergence of a group of major national players in the personal injury and insurance sectors, with highly acquisitive Slater & Gordon and DWF the most closely watched. Continue reading “Merger watch – 2013 a record year for legal mergers as 2014 promises more of the same”

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In-house: high-profile Pfizer GC steps down while former Dewey chair appointed as a UAE legal adviser

She has built a reputation as one of the most powerful and influential lawyers in the world but Pfizer has confirmed that its high-profile general counsel and executive leadership member Amy Schulman is to leave the pharma giant just weeks before the in-house lawyer was due to take up a new post.

Schulman had joined Pfizer in 2008 from her position as co-head of mass tort and class actions at DLA Piper. The star litigator, who was reportedly responsible for a $60m book of business, was an equally high-profile general counsel going on to pioneer the Pfizer Legal Alliance, a radical attempt to usher in annually fixed fees for advisers that entirely ditched the billable hour.

The move comes despite Schulman in July being named as head of vaccines, oncology and consumer healthcare business, a post she was expected to assume in the New Year.

Continue reading “In-house: high-profile Pfizer GC steps down while former Dewey chair appointed as a UAE legal adviser”

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LLP latest: Trowers accounts confirm profits slide as Holman and Stephenson Harwood power on

What finer way to kick off the New Year than a stream of law firm limited liability partnership (LLP) accounts? The latest in a run of recent filings confirm the extent of the fall in profitability at Trowers & Hamlins, while Holman Fenwick Willan and Stephenson Harwood confirm revenue increases.

Trowers’ LLP accounts for 2012/13 show that the firm’s net income fell from £26.2m to £16.1m while operating profit was down from £28.4m to £18.8m. The firm said the sharp fall in profits was largely due to the cost of moving its new London headquarters. Its turnover also decreased by 3.6% to £78.2m in 2013 from £81.2m the previous year.

Continue reading “LLP latest: Trowers accounts confirm profits slide as Holman and Stephenson Harwood power on”

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International markets – Addleshaw hires third partner in Hong Kong and rebrands to Francis & Co

Having launched in Hong Kong last summer, Addleshaw Goddard has forged ahead with a number of developments in the region including adding a third partner, Daniel Wan, and rebranding following the arrival of Nigel Francis at the end of 2013.

Wan, who joins from Jun He and previously worked at Herbert Smith Freehills, specialises in M&A and equity capital markets, particularly pre-initial public offering (IPO) investment and restructuring and post-IPO regulatory and compliance matters.

Continue reading “International markets – Addleshaw hires third partner in Hong Kong and rebrands to Francis & Co”

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Litigation watch – Claims against FTSE 100 companies up by 76% in 2013

A second spike in claims against banks stemming from the financial crisis is being blamed for a rocketing number of High Court cases involving FTSE 100 companies, which rose by 76% in 2013, the highest level since the credit crunch.

Data from Thomson Reuters Lawtel shows a total of 201 High Court cases involving FTSE 100 companies between June 2012 and June 2013, up from 114 cases the previous year. Of that total figure 55%, or 112 cases involved financial services companies, up from 65 cases in the previous year.

The UK’s top banks including the Royal Bank of Scotland (RBS), Barclays Bank and HSBC accounted for 47% of all litigation against FTSE 100 companies, partly due to well-documented failings such as the mis-selling of mortgage-backed securities and interest rate swaps or LIBOR manipulation. Continue reading “Litigation watch – Claims against FTSE 100 companies up by 76% in 2013”

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LLP results 2012/13 – CC reveals drop in management committee pay as LG records further decline in turnover

Clifford Chance’s (CC’s) limited liability partnership accounts for the 2012/13 year have revealed a 5% drop in total remuneration paid to the firm’s management committee, according to the latest filings with Companies House.

Published on 23 December, the accounts show that the 16-strong management committee team received £18m this year, compared to £19m for the 2011/12 financial year.

Continue reading “LLP results 2012/13 – CC reveals drop in management committee pay as LG records further decline in turnover”

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LLP filings 2012/13 – BLP sees bank borrowing increase from £14m to £45m

Following a year of partner departures and a significant drop in profit per equity partner, Berwin Leighton Paisner’s limited liability partnership (LLP) accounts have revealed a 221% increase in bank borrowing in the 2012/13 financial year.

The 790-lawyer firm’s borrowing has risen to £45m from £14m the previous year.

However, in what appears to be a re-financing of debt, the top 20 firm has significantly reduced its overdraft facility, which is down from £4.5m to £371,000 and overall the firm owes £76m to creditors, compared to £51.3m the previous year. Continue reading “LLP filings 2012/13 – BLP sees bank borrowing increase from £14m to £45m”

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A dangerous game of bluff

When I was talking recently with the GC of a multinational operating globally, they outlined the purpose of their legal function to me. They said it existed to ‘provide high quality legal services tailored to the organisation’s needs, carried out by more knowledgeable lawyers than could be secured from external providers, yet at a much reduced price than would be paid if solely using an external supplier’. Continue reading “A dangerous game of bluff”

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Whistle-blowers and the in-house lawyer – a question of ethics and objectivity

The term whistleblower is said to have been coined in the 1970s by US activist Ralph Nader to avoid the negative connotations of terms such as ‘informer’ and ‘snitch’, instead invoking the referee in a sports match, blowing the whistle to stop the game when there is unfair play. Continue reading “Whistle-blowers and the in-house lawyer – a question of ethics and objectivity”