YangTze Law has become the first wholly Chinese-owned law firm to launch in London, targeting Chinese corporates investing in Europe as China’s outbound direct investment overtook investment into the country for the first time earlier this year.
WHITTAKER STEPS DOWN AS LLOYDS GC
Group general counsel (GC) Andrew Whittaker is stepping down from his role at Lloyds Banking Group with deputy GC Kate Cheetham set to replace him. Whittaker joined the bank in May 2013 after having served as the legal head of the Financial Services Authority. The bank also saw the departure of disputes chief Philippa Simmons last month and began a redundancy consultation looking at cutting up to 25 mid-level positions.
Cahill Gordon & Reindel has launched an English-law City-based litigation practice after hiring litigator Richard Kelly from US rival Shearman & Sterling and gaining an alternative business structure (ABS) licence.
Co-operative Group Legal Services (CLS) has seen its revenue decline by almost a third to £23m in 2014 from £33m in 2013 due to a drop in ‘personal injury income following regulatory changes to referral fees’.
Alternative business structure (ABS) Quindell, which posted a substantial increase in revenues in its legal services division this summer, has brought in PwC to carry out an independent review on the company’s accounting policies.
KING & WOOD MALLESONS HIRES HEAVYWEIGHT EVERSHEDS TRIO
KWM last month hired former Eversheds senior partner Cornelius Medvei alongside former international head of real estate William Naunton and former London head of tax Clive Jones. The trio will lead expansion plans for the firm’s structured real estate team.
Keystone Law has turned to boutique private equity house Root Capital to fund its growth plans, raising £3.15m in return for a 35% stake in its business.
PwC Legal continues to invest in expanding its offering and has today (16 October) announced the appointment of Addleshaw Goddard partner, Neal Shepherd, to ‘spearhead its regional growth, particularly in the North of England’.
The Innovator’s Dilemma has become arguably the most influential business book of the last 20 years and is often cited as a key text for a profession facing unprecedented challenges. Legal Business assesses its relevance to global law.
‘The picture… is truly that of an innovator’s dilemma: the logical competent decisions of management that are critical to the success of their companies are also the reasons why they lose their positions of leadership.’
Clayton Christensen, The Innovator’s Dilemma Continue reading “Leadership and innovation – Profession, disrupt thyself?”
LORD CHANCELLOR ACTED ‘UNLAWFULLY’ IN LEGAL AID CONSULTATION
Kingsley Napley and 11 KBW last month acted for the London Criminal Courts Solicitors’ Association and the Criminal Law Solicitors’ Association in their successful challenge against the Lord Chancellor’s failure to disclose the contents of two reports during the legal aid reforms consultation process. The Treasury Solicitor instructed Blackstone Chambers’ James Eadie QC and Fraser Campbell, and 4 New Square’s Richard O’Brien on the case.