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The Client: Philip Bramwell – BAE Systems

Caroline Hill talks to the plain-speaking general counsel

When BAE Systems’ group general counsel (GC) Philip Bramwell started out as a lawyer in the pharmaceuticals industry, his mother approved on the basis that ‘everybody gets sick’. But as the assertive corporate veteran set out on the deliberate path to change industry every few years, she was less convinced by his switch from BT to O2 in 2001, observing that mobile phones were somewhere between a brick and a car battery and ‘no-one would be so rude as to walk around talking on them’.

Continue reading “The Client: Philip Bramwell – BAE Systems”

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Private equity: CVC gifts Clifford Chance and Cleary with two major European mandates

Followers of the tussle between UK and US private equity practices for European mandates were last month rewarded with an instruction to both camps by leading buyout house CVC Capital Partners in its acquisitions of Domestic & General (D&G) and Campbell Soup.

Advent International agreed to sell extended warranty provider D&G to CVC in a deal thought to be worth about $1.2bn, according to The New York Times, although this sum has not been officially disclosed.

Clifford Chance (CC) advised CVC, with a team led by Kem Ihenacho, co-head of the firm’s Africa practice and one of its private equity stars. He was assisted by M&A partner Brendan Moylan and insurance partner Hilary Evenett.
Continue reading “Private equity: CVC gifts Clifford Chance and Cleary with two major European mandates”

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Revolving doors: Macfarlanes continues lateral hiring spree as DWF and Walkers make key appointments

As Macfarlanes’ tightly focused business model goes from strength to strength amid testing market conditions, its rate of lateral hires has increased considerably. The firm’s latest recruit is in fact a re-hire, with Michael Parkinson re-joining Macfarlanes in October after four years as private client group partner at West End firm Russell-Cooke.

Parkinson trained and qualified at Macfarlanes before joining Russell-Cooke in 2009. His experience comprises advising high-net-worth individuals on private client wealth management issues including capital gains tax and inheritance tax matters, landed estates and heritage property and trust law. Continue reading “Revolving doors: Macfarlanes continues lateral hiring spree as DWF and Walkers make key appointments”

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Barclays goes external to replace group GC Mark Harding

In a surprise announcement, Barclays has today (30 August) revealed that Bob Hoyt has taken over from Mark Harding as group general counsel (GC), following the announcement in February that Harding is to retire.

The decision to appoint an external candidate to one of the most high-profile legal roles in banking ends months of speculation following Harding’s decision to retire at the start of the year, with many calling a two-horse race between deputy general counsel Michael Shaw and global GC for corporate and investment banking Judith Shepherd. Continue reading “Barclays goes external to replace group GC Mark Harding”

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Panel review – Aviva reveals new look line up

Global law has largely won the day for Aviva as it today (30 August) announced that Latham & Watkins, Ashurst, DLA Piper, Linklaters, Pinsent Masons and Addleshaw Goddard have won a place on its panel for international and UK work.

Slaughter and May and Allen & Overy (A&O), appointed in April as the company’s most senior legal advisers to the Aviva board, were automatically included in the eight-firm line up. However, Clifford Chance, which lost its place as a board adviser to A&O in April and was invited to tender during this latest stage, has not been selected for the new-look panel. Continue reading “Panel review – Aviva reveals new look line up”

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Keeping up with Kinsella: Slater & Gordon’s slowly but very surely approach to mergers set to continue

If you had reached the impression that Slater & Gordon’s acquisitive streak had come to a natural pause, if only for breath, that impression would be wrong.

Having last week officially declared it is to acquire leading UK claimant personal injury firm Fentons, its fourth buyout in two years, chief executive Neil Kinsella (pictured) tells Legal Business that the ASX-listed group has no intention of stopping any time soon.

‘We continue to look at acquisitions that might make sense strategically –without rushing,’ he explains. ‘We look at who is right for us [and consider whether] it fixes the geographical gap. It’s not just about personal injury either, it’s [also] about consumer legal services. We’re pretty optimistic. We’ll continue to grow.’ Continue reading “Keeping up with Kinsella: Slater & Gordon’s slowly but very surely approach to mergers set to continue”

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Guest post – Syria: the UK can legally use force

In some ways this week, with the recall of Parliament and the UK tabling a UN resolution, seems like a fast replay of the run up to the 2003 invasion of Iraq. Many people’s attitudes to what’s happening are informed by the experience of Iraq, and reflect the view they took of that action ten years ago. Mine too.

So it may be no surprise that, although my legal argument is different here from that in the case of Iraq, and involves undoubted legal controversy, I think there is a proper legal basis on which the UK can participate in military action against Syria.

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Financial results 2013: Bakers reveals double-digit profit growth against global turnover increase of 5%

Baker & McKenzie has revealed above average financial performance for 2012/13, with a global revenue increase of 5% to $2.419bn and profits per equity partner up by 10% to $1.2m. This growth comes in above the Legal Business Global 100 average of 4% increase in turnover and flat profits for the past financial year.

Continue reading “Financial results 2013: Bakers reveals double-digit profit growth against global turnover increase of 5%”

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Regulatory work: Cadwalader and Cleary face off over Ryanair/Aer Lingus, while Links and HSF advise on PPI compensation pot

In a move being watched with interest by M&A lawyers and competition experts throughout Europe, the Competition Commission (CC) has today (28 August) dealt another blow to Ryanair’s long-held ambitions to buy Aer Lingus by ordering the airline to sell the majority of its 30% stake held in its rival, ruling that the minority stake could allow it to materially influence Aer Lingus in a way that may be anti-competitive.

However, Ryanair has wasted no time in saying it will appeal against the decision, described by Ryanair chief executive Michael O’Leary to the BBC as ‘bizarre and manifestly wrong’. This will meaning more work for Ryanair’s seasoned advisors, Cleary Gottlieb Steen & Hamilton, led by competition partner Nicholas Levy.

Continue reading “Regulatory work: Cadwalader and Cleary face off over Ryanair/Aer Lingus, while Links and HSF advise on PPI compensation pot”

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Ireland’s lucky number seven: Irish Treasury appoints septuplet of firms to its legal panel

Thanks to the economic turbulence that has plagued the Irish nation since 2008, Dublin’s largest firms continue to collect hefty recession related work post financial crisis, including most recently an appointment to advise the government’s asset and liabilities manager, the National Treasury Management Agency (NTMA).

The NTMA, which is responsible for borrowing on behalf of the Irish government and managing the national debt, has appointed Dublin-based Big Five firms A&L Goodbody, Arthur Cox, William Fry, McCann FitzGerald and Matheson to its general legal services panel alongside Mason Hayes & Curran and offshore funds giant Maples and Calder. Continue reading “Ireland’s lucky number seven: Irish Treasury appoints septuplet of firms to its legal panel”

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Compliance drive – BLP’s financial services partner joins Barclays investment arm as EMEA head

As leading retail and investment banks bolster their internal compliance functions it has emerged that Berwin Leighton Paisner’s (BLP) financial services partner Nick Kynoch has joined Barclays Investment Bank as the head of regulatory compliance for Europe, the Middle East and Africa (EMEA).

The hire comes after Hector Sants, former chief executive of the Financial Services Authority, joined Barclays in December to the newly-created role of head of compliance and government and regulatory relations, overseeing all compliance activities across Barclays, meaning for the first time all compliance staff within the bank report to one individual and operate independently of business and regional management teams. Continue reading “Compliance drive – BLP’s financial services partner joins Barclays investment arm as EMEA head”

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RSM Tenon in administration as three UK firms carve out Challinors

The break-up of debt-laden Midlands firm Challinors took a ‘hunter turned hunted’ twist yesterday afternoon (22 August) after administrator RSM Tenon announced its own debt driven acquisition by rival Baker Tilly.

RSM was appointed in July to oversee the sale of Birmingham-headquartered Challinors’ business, and earlier yesterday announced the sale of parts of the law firm’s commercial litigation, medical negligence and family law practices to Clarke Willmott, Shoosmiths and Cartwright King respectively.

But in a mirror of its professional negotiations, the 35-office troubled accountancy firm was in crisis talks with Tilly and, like so many of the companies it advises, was forced into administration after Tilly pulled out of those talks. Continue reading “RSM Tenon in administration as three UK firms carve out Challinors”

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Trainee retention: Macfarlanes & Latham reveal numbers

Macfarlanes has become the latest City firm to decide on its trainee retention rates, with 18 out of 24 trainees – equating to 75% – being offered a permanent position at the firm.

The figure, which represents a dip on last year’s near full house of 92%, comes after three trainees were not offered a position, however two trainees did not apply for a job with the firm and one declined the permanent newly-qualified (NQ) role on offer. Continue reading “Trainee retention: Macfarlanes & Latham reveal numbers”

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Takeover potential – Linklaters & Simmons lead on Amec’s £700m bid for Kentz

Linklaters and
Simmons & Simmons‘ longstanding corporate relationships with Amec and Kentz have gifted them with a potentially lucrative takeover bid instruction as Kentz this week announced it had rejected a £700m offer from its larger engineering rival.

Linklaters corporate partners Shane Griffin and Aedamar Comiskey are leading the team for Amec, which it has advised on corporate matters for well over a decade. Simmons corporate partner Edward Baker is advising Kentz on the offer, which the FTSE 250 engineering company said it had rejected, together with an earlier offer in July from Germany’s M+W Group, on the basis that it undervalued the company.
Continue reading “Takeover potential – Linklaters & Simmons lead on Amec’s £700m bid for Kentz”

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Revolving Doors: Ashurst makes key energy hire in New York as Gibson Dunn and Squire Sanders expand in London

Ashurst this week announced the hire of Allen & Overy (A&O) energy partner Charles Williams in a bid to boost its New York energy, resources and infrastructure practice.

The move strengthens the firm’s position within the US public-private partnership (PPP) space – dubbed P3 in the US – an area Williams focussed on at A&O. He brings with him experience of representing the public sector, sponsors and lenders within the transportation sector and advising on renewables projects in the North, Central and South America. Continue reading “Revolving Doors: Ashurst makes key energy hire in New York as Gibson Dunn and Squire Sanders expand in London”

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UK PI bandwagon – Slater & Gordon buys Fentons and reveals 2012/13 results

Slater & Gordon today (21 August) made further inroads into the UK personal injury (PI) market as it formally announced to the Australian Stock Exchange (ASX) the acquisition of leading claimant firm Fentons, although discussions with earlier merger talks partner Simpson Millar have been deferred until early 2014.

The Australian-listed firm confirmed that due diligence on 120-lawyer Fentons, which has an annual revenue of £27.7m, is substantially completed and formal business sale agreements have been executed with the London and Manchester firm. Macfarlanes advised on the deal, led by corporate partners John Dodsworth and Jessica Adam, opposite Pinsent Masons for Fentons, led by corporate partner Gregg Davison. Continue reading “UK PI bandwagon – Slater & Gordon buys Fentons and reveals 2012/13 results”

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Guest post: Could David Miranda be a “terrorist”?

There’s understandably been a great deal of reaction to the nine-hour detention at Heathrow airport of David Miranda, who was travelling as part of his work with Guardian journalists covering Edward Snowden’s disclosures, and whose laptop and memory stick were seized as a result of his detention and questioning under paragraphs 2 and 6 of Schedule 7 to the Terrorism Act 2000.

Paragraph 2(1) of Schedule 7 says that:

An examining officer may question a person to whom this paragraph applies for the purpose of determining whether he appears to be a person falling within section 40(1)(b)

and section 40(1) provides that a

“terrorist” means a person who …

(b) is or has been concerned in the commission, preparation or instigation of acts of terrorism.

So there’s no doubt: the purpose of Schedule 7 is clear. Continue reading “Guest post: Could David Miranda be a “terrorist”?”

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BLP loses head of private equity Raymond McKeeve to Jones Day

With all eyes on Berwin Leighton Paisner (BLP) the news that corporate finance partner and global head of private equity Raymond McKeeve has left to join US firm Jones Day’s London office could, in many ways, not have come at a worse time.

Acknowledged by Legal 500 as ‘a leading private equity specialist’ McKeeve advises many of the leading private equity houses, including Blackstone Private Equity, Darwin Private Equity and KKR. Continue reading “BLP loses head of private equity Raymond McKeeve to Jones Day”

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BAE international: defence giant rolls out UK cab rank model to Asia and ME

With the UK’s investment in defence broadly flat British defence giant BAE Systems is looking increasingly to the international markets for growth and its legal team is morphing with it.

This month, BAE’s 250-strong legal team, which counts the company’s 100,000-plus employees as its clients, rolled out its UK cab rank model – under which a pool of lawyers is available on a first-come-first-served basis – to Asia and the Middle East. Continue reading “BAE international: defence giant rolls out UK cab rank model to Asia and ME”