Royaume-Uni, nil points: why the true Eurovision is independence

Royaume-Uni, nil points: why the true Eurovision is independence

Compiling our second annual Euro Elite report this month reminded me of when the late Rodrigo Uría, then managing partner of Spanish leader Uría Menéndez, recounted how he ended a heated meeting with Linklaters’ irascible former managing partner Terence Kyle by pointing out the armed guards at the entrance to his firm’s Madrid office. Back in the late 1990s, the UK elite was desperate to get into Europe. Emotions ran high.

With Brexit, the UK now wants out (the legal profession less so). But in the Continental market you could argue the English firms have been in withdrawal mode for years. Although the buccaneering expansion across the region in the 1990s and early 2000s means firms with Anglo-Saxon origin are ubiquitous, few dominate. With the exception of France, where the locals have potent competition, and the Netherlands, where Allen & Overy became a major force (by force), Global 100 firms rarely compete at the top level. Freshfields Bruckhaus Deringer is a leader in Germany, but by virtue of the only merger of equals between a European and an English firm, and even it is currently looking to strip down its local practice to bolster profitability. The Magic Circle has been on some level of modest reversal in Germany for a decade now.

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Stronger together – amid turbulent times, Europe’s top indies remain in bullish mood

As Brexit, China and Trump take their toll, our second Euro Elite report finds the continent’s leading independents in bullish mode

For many, 2016 was a year that threatened to halt the forces of globalisation. Anxieties over the global economy, particularly in China, and falling energy prices gave way to political shocks delivered by voters in the shape of Brexit and President Trump. From this maelstrom, Europe emerged in relatively good shape. As did its independent law firms.

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Focus: Gide Loyrette Nouel

Focus: Gide Loyrette Nouel

Lawyer headcount 503

Partners 104

Revenue €190m (-1%)

Offices Paris, Brussels, London, Warsaw, Moscow, Istanbul, Beijing, Shanghai, Hong Kong, Ho Chi Minh City, New York, Algiers, Casablanca, and Tunis.

Key clients BNP Paribas, Eni, Crédit Agricole, Société Générale, LVMH

Managing partner Stéphane Puel (pictured)

Recent work highlights Advising DCNS on a €32bn programme for the design and construction of Australia’s future submarines; advising Veolia Environnement on the first issue of €2bn Panda bonds; and advising Agence des participations de l’État on the €2bn+ privatisation of Nice and Lyon airports. Continue reading “Focus: Gide Loyrette Nouel”

Focus: Hengeler Mueller

Focus: Hengeler Mueller

Lawyer headcount 264

Partners 90

Revenue €257m (+6%)

Offices Berlin, Brussels, Düsseldorf, Frankfurt, London, Munich, Shanghai

Key clients General Electric, KKR, METRO, RWE, Siemens

Managing partners Dirk Bliesener, Georg Seyfarth

Recent work highlights Advising RWE on the €5bn IPO of innogy on the Frankfurt stock exchange – the largest IPO since 2000 and the fourth largest in German history; advising KKR on its acquisition of Airbus Defence Electronics Business Companies; Linde on its merger with Praxair.

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Focus: Gianni, Origoni, Grippo, Cappelli & Partners

Focus: Gianni, Origoni, Grippo, Cappelli & Partners

Lawyer headcount 425

Partners 87

Revenue €124m (+5%)

Offices Rome, Milan, Bologna, Padua, Turin, Abu Dhabi, Brussels, Hong Kong, London and New York

Key clients Hitachi, UniCredit, BNP Paribas, Gruppo COIMA, Leonardo

Managing partners Antonio Auricchio, Rosario Zaccà

Recent work highlights Advising the Italian state railway, Ferrovie dello Stato, in the privatisation of Grandi Stazioni – sold by auction for €953m; advising Leonardo-Finmeccanica in the agreement with Space2 in its acquisition of 81% in Avio – a space propulsion system provider – from Cinven.

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Focus: Wolf Theiss

Focus: Wolf Theiss

Lawyer headcount 307

Partners 64

Revenue €70m (-10%)

Offices Belgrade, Bratislava, Bucharest, Budapest, Kiev, Ljubljana, Prague, Sarajevo, Sofia, Tirana, Vienna, Warsaw, Zagreb

Key clients REWE Group, PORR, Erste Group Bank, FACC, Advent International

Managing partners Erik Steger, Richard Wolf, Nikolaus Paul

Recent work highlights Advising Allianz Capital Partners and several insurance companies of the Allianz Group on the acquisition of a 49% stake in Gas Connect Austria from OMV; representing Total on the €3.2bn sale of its speciality chemicals business Atotech to The Carlyle Group; advising South African-listed healthcare brands company Ascendis Health on its acquisition of a 100% stake in Hungary-headquartered Scitec Nutrition for €170m.

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Focus: Garrigues

Focus: Garrigues

Lawyer headcount 1,408

Partners 297

Revenue €349.4m (+3%)

Offices Spain: A Coruña, Alicante, Barcelona, Bilbao, Las Palmas, Madrid, Málaga, Murcia, Oviedo, Palma de Mallorca, Pamplona, San Sebastián, Santa Cruz de Tenerife, Seville, Valencia, Valladolid, Vigo, Zaragoza. Portugal: Lisbon, Oporto. International: Beijing, Bogotá, Brussels, Casablanca, London, Lima, Mexico City, New York, Santiago de Chile, São Paulo, Shanghai, Warsaw

Key clients BBVA, Carrefour, Iberdrola, Santander, Telefónica

Managing partner Fernando Vives

Recent work highlights Advising Coca-Cola European Partners on its €16.9bn listing on multiple stock exchanges; advising Spanish hospital operator Quirónsalud during its €5.8bn takeover by German healthcare provider Fresenius; advising Global Infrastructure Partners on its €3.8bn purchase of 20% of Gas Natural from Repsol and Criteria Caixa.

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The Euro Elite Methodology

The Euro Elite Methodology

Legal Business‘ Euro Elite comprises independent law firms based in more than 40 European jurisdictions, rather than the local offices of international firms.

To compile the 100 firms featured in this report Legal Business analysed more than 150 of the largest law firms in Europe by the number of lawyers, as well as more than 150 of the top-ranking firms in the current edition of The Legal 500 EMEA. A combined score was given for the size of the firm and its The Legal 500 rankings, providing a qualitative as well as a quantitative analysis. The 100 firms with the highest combined score make The Euro Elite. Continue reading “The Euro Elite Methodology”