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US/UK hires: Mayer Brown boosts London securitisation team as Herbert Smith hires New York financial services litigator

Mayer Brown is boosting its English law securitisation capability with the hire of former Mayer Brown lawyer Richard Todd, who re-joins the firm from Berwin Leighton Paisner (BLP) alongside Allen & Overy banking associate David O’Connor.

Todd will work on domestic and international structured financings alongside former colleague and head of the banking and finance division Dominic Griffiths, as well as senior securitisation partner Kevin Hawken. Continue reading “US/UK hires: Mayer Brown boosts London securitisation team as Herbert Smith hires New York financial services litigator”

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Panel win: £15bn Pension Protection Fund reveals new line up

Labelled one of the most important institutions in the pensions industry with £15bn of assets under management, the Pension Protection Fund yesterday (7 October) announced its new slimmed down legal panel, with Wragge & Co winning a first time appointment for the body as one of three core advisers.

International firms Clyde & Co and Dentons also won core advisory roles on the panel, which has shrunk from a total of 27 firms in 2007 to 23 following a comprehensive tendering process. Continue reading “Panel win: £15bn Pension Protection Fund reveals new line up”

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Comment: The mindset for 21st century law – be optimistic and afraid and you’ll do fine

A law firm pumps out marketing bumpf about how awesome it is and it is received – with ample justification – as self-serving twaddle. An alternative legal services provider pumps out marketing bumpf about how awesome it is and it is met with a round of applause, rather than as the self-serving twaddle wrapped in utopian geek speak it usually is.

The point? These days there are a lot of people talking down law firms. True, plenty of criticism regarding conservatism, high costs and lack of genuine client focus is still justified. But to judge by some claims, law firms aren’t just greedy unresponsive bastards, they are greedy unresponsive bastards standing on a burning deck.

Continue reading “Comment: The mindset for 21st century law – be optimistic and afraid and you’ll do fine”

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Going buy-side: Reed Smith’s global managing partner takes over from Hoyt at PNC

It is still reasonably uncommon to see private practice partners step straight into a general counsel (GC) role but Reed Smith’s global managing partner (MP) Greg Jordan is to join one of the firm’s clients, Pittsburgh’s largest bank, the PNC Financial Services Group, taking over from Bob Hoyt as he prepares to join Barclays. Alexander Thomas, Reed Smith’s global chair of litigation, will take over the global MP role from Jordan.

Jordan, who was only re-elected for another three year term last year, is set to become executive vice president GC and head of regulatory and government affairs. He will report directly to PNC’s CEO William Demchak. Continue reading “Going buy-side: Reed Smith’s global managing partner takes over from Hoyt at PNC”

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Building a career structure at 02 and why IQs are rated higher than experience

The in-house legal profession grew by 137% between 2001 and 2011 and with that growth has come new issues of succession and sustainability for legal teams; issues that are already being addressed at 02.

While law firms undoubtedly rely too much on the pyramid model, in-house teams have traditionally been too flat, reliant on recruiting costly experienced lawyers and often able to offer them little in the way of career progression. Continue reading “Building a career structure at 02 and why IQs are rated higher than experience”

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Flamboyant or offensive? Race pundit McCririck’s age claim sees Reed Smith and Cavendish Legal in court

Reed Smith and Cavendish Legal Group have been facing each other in the Central London Employment Tribunal this past week as eccentric race pundit John McCririck (pictured) sues his former employers Channel 4 and IMG Media for age discrimination.

Seventy-three year-old McCririck was axed from Channel 4’s coverage last year, when Clare Balding and a new-look team took over. Continue reading “Flamboyant or offensive? Race pundit McCririck’s age claim sees Reed Smith and Cavendish Legal in court”

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Sector switch: Vodafone’s corporate affairs director takes over as GC of British Gas

Vodafone UK’s corporate and external affairs director Justine Campbell has switched from telecoms to energy, taking on the general counsel (GC) role at British Gas after a revamp of its senior legal team. She will join the company in December after having handed her notice in last month.

The GC title was phased out at British Gas following Melanie Rowland’s departure for Edwards Group last year, since when legal director Jane Forster has headed the legal and compliance function. Continue reading “Sector switch: Vodafone’s corporate affairs director takes over as GC of British Gas”

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HMRC review raises questions over law firm financing as banks tighten up lending terms

Law firms are facing a shake-up of their banking and taxation arrangements as both lenders and HM Revenue & Customs (HMRC) move to minimise their losses under the current system.

Following HMRC’s consultation on limited liability partnerships, draft legislation will be unveiled in its autumn statement, which is expected to substantially tighten the criteria for favourable tax treatment under partnership.

The legislation, which according to Norton Rose Fulbright partner Dominic Stuttaford may be tweaked but is unlikely to change tack, is expected to say that a partner is someone with a share of the equity – and of the risk – leaving the status of salaried partners in limbo. Continue reading “HMRC review raises questions over law firm financing as banks tighten up lending terms”

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Revolving Doors: Key hires for Mayer Brown, Greenberg Traurig, Herbert Smith, K&L Gates and Pinsent Masons

The lateral hiring spike of September is running into October, as Mayer Brown and US rival Greenberg Traurig Maher bulk up in London, Herbert Smith Freehills (HSF) and K&L Gates recruit into their Australian practices, and Pinsent Masons boosts its Middle Eastern energy projects team.

Mayer Brown has hired Patricia Jones, a real estate partner from SJ Berwin, to join its team in London, following the hire last week of corporate partner Greg Stonefield from White & Case. Jones has been at SJ Berwin for 10 years and most recently acted for British Land on the redevelopment of the Shoreditch Estate. Continue reading “Revolving Doors: Key hires for Mayer Brown, Greenberg Traurig, Herbert Smith, K&L Gates and Pinsent Masons”

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Party for one: E.ON appoints Pinsent Masons as its sole UK adviser

The single-supplier legal advisory model appears to be gaining traction as Pinsent Masons has won its second exclusive fixed-fee contract this year, with energy giant E.ON appointing the firm as sole legal advisor for general matters, a first in the energy sector.

The terms of the arrangement mean E.ON’s UK legal function will reduce its roster of legal advisers to just one. The five-year deal will ‘encompass work across a full range of specialist legal services,’ a statement said today (3 Oct). Continue reading “Party for one: E.ON appoints Pinsent Masons as its sole UK adviser”

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Election fever: Sandelson re-elected as disputes chief as global MP vote draws near

Set against the wider backdrop of its global managing partner contest, Magic Circle firm Clifford Chance has re-elected Jeremy Sandelson as global head of the firm’s litigation and dispute resolution practice in an uncontested election.

Having been in the role since 2009, Sandelson will serve a second four-year term. His pedigree in management with the firm is long-established, as the disputes chief previously acted as managing partner of the London litigation practice in 2003, and regional managing partner for the UK and the Middle East from 2005. Continue reading “Election fever: Sandelson re-elected as disputes chief as global MP vote draws near”

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Global ambassador: CMS partner Fiona Woolf to represent the City as Lord Mayor

The City legal profession collectively regards itself as a global ambassador for UK enterprise but CMS Cameron McKenna energy partner Fiona Woolf has been officially awarded the representative role of the Lord Mayor of the City of London, becoming only the second female holder of the post in its 800-year history.

Woolf will be the City’s 686th Lord Mayor – to be distinguished from the wider Mayor of London role – and will take on the role of global ambassador for UK-based financial and business services from Friday 8 November. Continue reading “Global ambassador: CMS partner Fiona Woolf to represent the City as Lord Mayor”

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Wigs and veils up for discussion by Lady Hale and Lord Neuberger in Supreme Court briefing to mark a new legal year

Deputy president of the Supreme Court Lady Hale today (2 October) advocated a new approach to attracting youths from diverse backgrounds starting first with the elimination of barristers wigs, in a meeting otherwise dominated by the issue of full-face veils in court.

In a briefing held together with Lord Neuberger to reflect on his first year as president, the outspoken deputy addressed a series of questions over the use of the niqab in court, which dominated headlines in September after Judge Peter Murphy found that defendant Rebekah Dawson must remove her veil when giving evidence. Continue reading “Wigs and veils up for discussion by Lady Hale and Lord Neuberger in Supreme Court briefing to mark a new legal year”

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Comment: The air of unreality – can the big deal deliver for Ashurst?

‘Historically, what killed Ashurst’s mergers has been apathy. Latham, Fried Frank, Clifford Chance – people were apathetic.’ So recalls one former veteran of the City firm.

Ashurst has finally voted on a transformative merger with its Australian partner. But even two years since the firm agreed a formal alliance with big six Australian outfit Blake Dawson, the idea of Ashurst going through with the tie-up still seems odd, unreal even, though this timeframe was always set out and the Australian practice immediately took the name of its City suitor. Continue reading “Comment: The air of unreality – can the big deal deliver for Ashurst?”

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Layton leads the field as CC set for managing partner election

The race to fill the shoes of Clifford Chance (CC)’s longstanding global managing partner David Childs has reached a decisive stage, with the initially reluctant Matthew Layton widely cited as the favourite as the firm takes soundings on potential candidates.

Layton is widely tipped to be running alongside three other likely candidates: Paris-based office managing partner and M&A corporate specialist Yves Wehrli; global head of tax, pensions and employment David Harkness; and City-based banking and finance partner Andrew Carnegie. Continue reading “Layton leads the field as CC set for managing partner election”

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Consolidation watch: Dentons and McKenna Long in merger talks

Dentons and McKenna Long & Aldridge confirmed late on Monday (30 September) that they are in merger talks to create a firm with more than 3,100 lawyers around the world.

The firms are reported to be aiming to complete the deal by 1 January 2014 and in response Dentons issued the following statement to the US media:

‘Since creating Dentons earlier this year, we have been very clear in our determination to always deepen our capabilities to serve clients in the U.S. and around the world.

‘This has included discussions with firms and lawyers for whom we have great respect and share common goals. Continue reading “Consolidation watch: Dentons and McKenna Long in merger talks”

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More drama from Berlin – criticism of Hogan Lovells client led to departure by partner now leading team to rival

Surprise surrounding last week’s announcement that Hogan Lovells’ 30-lawyer Berlin arm is leaving to launch a German law practice for Morrison & Foerster has been compounded by the indications that local TMT partner Christoph Wagner was earlier asked to leave the firm for publicly criticising a client.

The decision by the 2,527-lawyer Anglo/American firm came after Wagner wrote an article in German newspaper FAZ looking at the antitrust concerns surrounding Deutsche Telekom’s decision to impose data limits on its flat rate internet connections, which German journalists have reportedly warned is a threat to the freedom of the web. Continue reading “More drama from Berlin – criticism of Hogan Lovells client led to departure by partner now leading team to rival”

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Africa expansion: Eversheds in talks to launch in five key jurisdictions

Eversheds is significantly expanding its Africa offering and is currently in discussions to establish offices in the key markets of Tunisia, Morocco, Ghana, South Africa and Kenya over the coming months.

The 1760-lawyer firm has also today (1 October) announced the launch of the Eversheds African Law Institute (EALI), which will share knowledge, training and regional and international commercial opportunities with member firms. Continue reading “Africa expansion: Eversheds in talks to launch in five key jurisdictions”

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Guest post: Grayling’s conference speech – main points and some reflections

Earlier this week, Chris Grayling MP, Secretary of State for Justice and Lord Chancellor, delivered his speech to the Conservative Party Conference in Manchester.

Like the speech of Sadiq Khan MP at the Labour Party Conference, Grayling’s speech was short. He opened by referring to a story in the Daily Mail about several young men having an easy time in prison. We were informed that, ‘within twelve hours, they were in segregation. Locked up for longer in their cells, not hanging out with their mates. Without a TV. Privileges stripped. Weeks added to their sentences after a swift disciplinary process.’ Good red meat for the party faithful. Continue reading “Guest post: Grayling’s conference speech – main points and some reflections”