It’s now or… later. Hogan Lovells to make decision on dual chief executive structure

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Hogan Lovells’ senior management has begun discussions over whether to retain the firm’s dual US-UK chief executive (CEO) structure or continue with a single head if UK CEO David Harris steps down as expected next year.

Harris (pictured) and US counterpart Warren Gorrell have opened the discussion on succession plans with the transatlantic firm’s board, which in turn will canvass the appetite of partners to move to a single leader now the merger of UK firm Lovells and Washington DC’s Hogan & Hartson is three years down the line.

The ten-strong board includes longstanding legacy Lovells City partners Nicholas Cheffings, who also acts as global chair, and finance partner Emily Reid. US members include new appointees Cole Finegan (Denver) and Dan González (Miami), who replaced New York-based Marc Gottridge and Hamburg-based Andreas Meyer respectively in May.

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Comment: Don’t push your luck with partnership

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Do law firms take partnership for granted? They really shouldn’t as the model has served them so well. Just consider the case. Partnership aligns management and ownership. This has helped large law firms to avoid the patchy governance and rewards-for-mediocrity seen at public companies over the last 20 years and drives partners to a pure form of performance pay. It is inherently long-term and as such has a strong record in promoting independence and ethical standards. And given that law isn’t a capital-intensive trade – at least once you cross the Rubicon of international expansion – partnership is workable (if not ideal) from a financing point of view. Continue reading “Comment: Don’t push your luck with partnership”

Leadership: Linklaters elects four new partners to its most senior board

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Linklaters has elected four new members to its most senior governance board responsible for strategic and other major decisions at the Magic Circle Firm.

The new members of the international board are London capital markets partner Paul Lewis in place of outgoing City partner Michael Kent, Düsseldorf corporate partner Klaus Hoenig who takes over from Frankfurt partner Eva Reudelhuber, Moscow capital markets partner Dmitry Dobatkin in place of retired former Moscow colleague John Goodwin, and Antwerp corporate partner Jean-Pierre Blumberg in place of Brussels-based litigation head Francoise Lefevre. Continue reading “Leadership: Linklaters elects four new partners to its most senior board”

A giant’s first steps – Norton Rose Fulbright goes live with suitably comprehensive governance team

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One of the most touted legal mergers of the last decade today (3 June) goes live with Norton Rose and US partner Fulbright & Jaworski unveiling a full governance team for the combined practice.

Norton Rose Fulbright confirmed the make-up of its global executive committee and group-wide supervisory board, with Fulbright managing partner Kenneth Stewart joining the executive committee.

Five partners from the Houston-based law firm join the 20-strong executive body, with six members on the oversight team. Continue reading “A giant’s first steps – Norton Rose Fulbright goes live with suitably comprehensive governance team”

Forward thinking: Ashurst appoints independent non-execs to its board

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Ashurst has taken the unusual step of appointing two high level non-executive directors to its board as the firm beds down its merger with Australia’s Blake Dawson and seeks experienced counsel on its strategic direction and corporate governance.

Former director general of The Takeover Panel Robert Gillespie will join the board of Ashurst with immediate effect and David Turner, chairman of the Commonwealth Bank of Australia (CBA), will join the board of Ashurst Australia (formerly Blake Dawson) on 1 June 2013. Continue reading “Forward thinking: Ashurst appoints independent non-execs to its board”

Norton Rose Fulbright announces global practice heads as Withers chair moves to New York

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Both Norton Rose and Withers have made changes to their senior management, with one entering a seven-day countdown to its full merger with Fulbright & Jaworski as the other regroups after talks with Speechly Bircham fell through last week.

Norton Rose Fulbright today announced its global practice heads for the firm’s three largest practice areas; corporate, banking and finance. Continue reading “Norton Rose Fulbright announces global practice heads as Withers chair moves to New York”

Gold’s blend: Mishcons managing partner reflects on another year of trend-busting growth

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It’s become a familiar fixture in the annual reporting season to see Mishcon de Reya announce annual growth rates that are the envy of its peers and the London law firm hasn’t disappointed.

This week, Mishcons confirmed a turnover increase of 14% to £83.5m for 2012/13 – an increase of £10m on last year’s £73.1m. Profits per equity partner at the 300-lawyer firm are expected to top £700,000, making it one of the most profitable firms outside the City top 10. Mishcons has now grown revenues by nearly 200% since 2006/07, a performance vastly ahead of the LB100 average.

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Olswang creates executive committee in management overhaul

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Olswang has concluded an extensive governance review that has seen the creation of an executive committee responsible for the firm’s management and strategy.

The review, led by general counsel Simon Callander, has also resulted in a complete overhaul of the firm’s board, which will now reflect the voice of the partnership and act as a check and balance to the committee’s primary decision-making role.

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Clifford Chance partner takes up governance role at Deutsche Bank

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Deutsche Bank today (17 April) announced the appointment of Clifford Chance partner Daniela Weber-Rey as chief governance officer and deputy global head compliance in its Frankfurt office.

Weber-Rey, who is a long-serving corporate partner at Clifford Chance, will join Europe’s biggest bank by assets in June, overseeing corporate governance globally and acting as adviser to the management board on the governance structures and processes of the bank.

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Stewart steps out of Goldstein shadow as Olswang hands popular head another term

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TMT specialist Olswang has re-elected long-time head David Stewart as chief executive for another three years.

Before being elected chief executive, Stewart was the firm’s managing partner since 2007. He has been a driving force behind the corporate media specialist’s attempt to refashion itself as a credible international player. As important, Stewart was charged with becoming the public face of Olswang when thrusting and high profile chief executive Jonathan Goldstein announced his departure six years ago.

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