The Last Word: The Big Long

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The Last Word: The Big Long

From Trump and Brexit to debt and tech, we ask Global 100 leaders for their assessment of a turbulent 12 months

Trouble ahead

‘Confidence is pretty high, but there are some significant challenges ahead. The growth of tech is going to have a transformational impact, which is going to increase in velocity over the next year or two. At some point we are due for a recession. It is going to happen soon and Trump’s trade war could provoke it.’
Peter Martyr, global chief executive, Norton Rose Fulbright Continue reading “The Last Word: The Big Long”

The Last Word: Generation Next

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The Last Word: Generation Next

As part of our partnership special, we asked young partners and managers alike for their take on the latest wave of partners coming through

Buck stops here

‘The biggest change for me when becoming partner was this immediate sense of responsibility – a responsibility to retain and attract talent, and to bring in interesting work. Suddenly you are supervising work and the buck stops with you. I miss the gossip! You got all the gossip when you were an associate, but when you become a partner people don’t want to gossip with you that much.’
Nicole Jadeja, partner, Fieldfisher Continue reading “The Last Word: Generation Next”

The last word: New order

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The last word: New order

As part of our technology special, we canvass the experts and ask where the legal start-up market is headed

Most will fail

‘1,400 legal tech companies are not going to succeed. This is the normal curve for any disruption of an industry: we’re going to see failures and people abandoning software, you’re going to see a consolidation phase. I see some of these failures freaking people out, but that’s normal. Lawyers have to understand in early-stage entrepreneurship most companies don’t make it. Failure is not investing in a little company that went under; it’s the portfolio not generating an overall great return.’
Dan Jansen, chief executive, Nextlaw Ventures Continue reading “The last word: New order”

The Last Word – Views from the market

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The Last Word – Views from the market

To mark the launch of our 2018 Global London report, we ask senior figures at leading US firms in London for a progress update

Keeping talent happy

‘Until a few years ago it was very hard to get a UK partner to leave their firm. Today we see the pendulum swinging: it went from extreme loyalty to far less. The focus for US firms has to be on how to keep people. Historically, Proskauer has done that really well.’
Mary Kuusisto, London office head, Proskauer Rose Continue reading “The Last Word – Views from the market”

The last word: Deals or no deals

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The last word: Deals or no deals

2017 ended with surprising confidence in a rebounding market. Here we ask the City’s leading corporate players for their prognosis on 2018

Finding the edge

‘We have come back from the holidays to a whirlwind of deal activity. I’m expecting to see financial investors looking to reduce the competition on deals by pursuing transactions where only a limited number can compete. For example, I expect the large-cap financial investors will look for multibillion-enterprise-value businesses to acquire either on their own or as part of a consortium. Also, financial investors will look to specialise further in certain key sectors so that they can differentiate from their competitors and create that all important auction-winning angle.’
Adrian Maguire, co-head of global financial investors group, Freshfields Bruckhaus Deringer Continue reading “The last word: Deals or no deals”

The last word: 2017 – year in review

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The last word: 2017 – year in review

More mergers, more Brexit and more uncertainty – law firm leaders reflect on the past 12 months and look ahead

Feeling hot

‘It has been a great year to be a private equity financing lawyer! The debt markets for leveraged finance have been hot, and our banking and high-yield team has advised sponsor clients on some of the largest and most complex financings in 2017. We expect this trend to continue with lots of liquidity being provided to fund buyouts from both private debt funds and the debt capital markets. It has been a strong market for the top US firms in London.’
Neel Sachdev, partner, Kirkland & Ellis Continue reading “The last word: 2017 – year in review”

The last word: Speaking out

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The last word: Speaking out

With the recent Weinstein revelations shining a light on sexual harassment and misogyny across every industry, we ask senior lawyers for their views

Call it out

‘Sexual harassment of anybody in any circumstance is outrageous. It must be called out at every opportunity and condemned for what it is – an insidious abuse of power.’

David Morley, member, Mayor of London’s International Business Advisory Council Continue reading “The last word: Speaking out”

The last word: A period of drama

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The last word: A period of drama

From living with Brexit to harnessing technology, Legal Business 100 leaders state what must be done to thrive

HARD CHOICES NECESSARY

‘We’ve been building on our strengths and worrying less about the things we don’t do but other firms do. We’ve been forced to make choices that we didn’t have to ten years ago because it isn’t viable anymore to do everything or pretend to do everything. Not even the Magic Circle can do that. It is about identifying where you want to play and focusing on that.’

Jeremy Hoyland, managing partner, Simmons & Simmons Continue reading “The last word: A period of drama”

The last word: Global horizons

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The last word: Global horizons

‘Recent events have not helped the UK’s Brexit negotiating hand – or foot, which now sports a large bullet hole.’

Andy Ryde, Slaughter and May

GOODBYE GLOBALISM

‘There has been significant M&A slowdown in the first quarter of 2017 – despite pundits commenting positively. There is no empirical survey evidence to show a drop-off in confidence, so we will have to see what happens in the next few quarters. The overall macro predictions continue to be steady but we’re not expecting spectacular growth. I fear the world as a whole is backing away from globalism – that’s bad for M&A activity – and it will disproportionately hit cross-border work.’

Richard Hall, head of M&A EMEA, Cravath, Swaine & Moore


Continue reading “The last word: Global horizons”

The last word: Elite theory

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The last word: Elite theory

‘I’m very optimistic about our model.’

Jason Mogg, Kinstellar

As part of our annual Euro Elite report, management at independent firms in Europe give their views on market challenges, Brexit and technology

ZERO SCHADENFREUDE

‘Brexit will probably have an impact on UK clients but there is no feeling here that Brexit will harm either the position of the German economy, or German independent firms. However, it is not the time for us to be looking at the UK and saying: “Poor UK firms, you will have a problem and Frankfurt is going to be even stronger.”‘

Alexander Schwarz, managing partner, Gleiss Lutz

Continue reading “The last word: Elite theory”