Market forces: Paul Weiss, Kirkland and the war for London talent

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Market forces: Paul Weiss, Kirkland and the war for London talent

In the contest for the biggest legal story of the moment, the A&O Shearman merger may be more transformational for the firms involved, but it is fair to say it has not quite captured the imagination like Paul Weiss’s dramatic and audacious hiring spree in London.

‘The question is whether a firm can genuinely build an elite PE practice by lifting out the top guys from different shops,’ muses one US firm partner, on Paul Weiss’s bid to crack London. Continue reading “Market forces: Paul Weiss, Kirkland and the war for London talent”

US law firms in London must adapt their business strategy to account for new challenges and opportunities

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US law firms in London must adapt their business strategy to account for new challenges and opportunities

On the face of it, things are going very well for US law firms in London. Last year, Cravath launched a London-based English law offering, Akin Gump’s London revenue jumped by 25% and Greenberg Traurig took on 15 new lawyers in London.

While London will continue to provide opportunities for US law firms – due to its position as a leading financial centre and its attractiveness for a global client base – acute disruptions are forcing leaders in US law firms to reconsider their international approach. Continue reading “US law firms in London must adapt their business strategy to account for new challenges and opportunities”

Simpson Thacher unveils new London head as office posts double-digit revenue growth

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Simpson Thacher unveils new London head as office posts double-digit revenue growth

Simpson Thacher has announced that Wheatly MacNamara will take over from Jason Glover as London managing partner in October. Glover, who has led the office since 2016, will remain at the firm in a strategic role. The news comes as the City office recorded a 23% rise in revenue for 2023.

MacNamara (pictured), whose practice focuses on real estate acquisitions, dispositions and joint ventures, joined the firm in 2005 and has been a partner since 2016. Her client book includes Blackstone, KKR, KSL, Apollo and Northwood. Continue reading “Simpson Thacher unveils new London head as office posts double-digit revenue growth”

‘We opted for ambition’: King & Spalding’s Tom Sprange KC on the firm’s London move and expansion plans

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‘We opted for ambition’: King & Spalding’s Tom Sprange KC on the firm’s London move and expansion plans

Following the announcement of its move to a new office space at 8 Bishopsgate, Legal Business spoke to King & Spalding London managing partner Tom Sprange KC (pictured) about the move, the firm’s expansion plans and cracking the private equity market.

‘I can’t emphasise enough how important the new office is to us, on a strategic, symbolic, practical, and professional level. The firm launched in London in 2003 with a handful of people in rented office space so announcing a new state-of-the-art office is a perfect way to not only mark our 20th anniversary but also to secure the foundations for further growth over the next two decades and beyond,’ Sprange responded when asked about the rationale behind the move. Continue reading “‘We opted for ambition’: King & Spalding’s Tom Sprange KC on the firm’s London move and expansion plans”

‘The busiest two months I’ve had for a long time’ – interview with Sidley London team following recent private equity push

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‘The busiest two months I’ve had for a long time’ – interview with Sidley London team following recent private equity push

Following Sidley’s hire of private equity specialists Ramy Wahbeh and Kaisa Kuusk from Paul Weiss in June, Legal Business caught up with Wahbeh along with London managing partner Tom Thesing, and partner and management committee chair Yvette Ostolaza, to discuss the recent expansion in the City.

So far this year, the firm has made a push to hire in the private equity space, recruiting seven partners in London including Wahbeh and Kuusk who both brought with them experience acting for large private equity sponsors and their portfolio companies on European and global deals.  Continue reading “‘The busiest two months I’ve had for a long time’ – interview with Sidley London team following recent private equity push”

A year of two halves for White & Case as City revenue drops after tricky start to 2019

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A year of two halves for White & Case as City revenue drops after tricky start to 2019

White & Case’s City revenue fell almost 4% over the last financial year following a ‘challenging’ start to 2019, while growth in global turnover also slowed.

London revenue last year dropped to $337m from $350m after a blistering 2018 on the back of a dynamic lateral hiring spree. Continue reading “A year of two halves for White & Case as City revenue drops after tricky start to 2019”

Quinn breaks £100m City revenue barrier as King & Spalding hikes London revenue 15%

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Quinn breaks £100m City revenue barrier as King & Spalding hikes London revenue 15%

Disputes heavyweight Quinn Emanuel Urquhart & Sullivan has continued its impressive growth in the City, with revenue at the firm’s London office increasing 20% to £100.6m.

The US-bred firm also saw profits rise 11% to £67.2m, putting the office’s profit margin at 66.7%. The results cement Quinn’s place as ‘unquestionably the market leader in litigation-only practices in London,’ according to senior partner of the London office Richard East. Continue reading “Quinn breaks £100m City revenue barrier as King & Spalding hikes London revenue 15%”