Moves:
UK & Ireland
Weil Gotshal London Private Equity Duo Quit for Sidley Austin
A Weil Gotshal & Manges private equity partner duo has quit to join rival firm Sidley Austin. James MacArthur and Ed Freeman are leaving the U.S.-led law firm’s London office to join Sidley Austin’s energy, transportation & infrastructure practice, according to several people with knowledge of the move.
EMEA
Allen & Overy and King & Spalding snap up Shearman & Sterling partners in Paris and UAE
Defections from US law firm Shearman & Sterling’s international network have continued, with partners departing the New York firm’s Paris and Dubai offices for Allen & Overy (A&O) and King & Spalding (K&S) respectively. In Paris corporate partner Guillaume Isautier has joined A&O alongside counsel Martin Chassany and senior assoicate Gaspard Bastien-Thiry, while projects partner Brendan Hundt has moved over to K&S in the UAE.
ECIJA Adds Litigation and Arbitration Partner in Barcelona
Spain-based ECIJA has hired a new litigation and arbitration partner in its Barcelona office in what is the firm’s first global partner hire since it formed a strategic alliance with Taylor Wessing. Gorka Goenechea had been a partner at Catalan law firm Balaguer Morera y Asociados for more than 15 years. He specializes in corporate, financial and construction sector conflicts, according to ECIJA.
DWF Hires 4-Person Team From Mazars España in Madrid
The Spanish arm of U.K.-based law firm DWF has brought on a four-lawyer, partner-led banking and finance team from Mazars España. Jesús Estévez, who was a partner at Mazars for three years, also was previously a partner at Fieldfisher, Ernst & Young and Baker McKenzie, according to his LinkedIn profile. He joins DWF-RCD, the name the firm has used in Spain ever since DWF absorbed the Spanish firm Rousaud Costas Duran in 2019, as a partner in the firm’s banking and finance area in Madrid.
Herbert Smith Freehills Taps US Firm For European Finance Partner Hire
International law firm Herbert Smith Freehills has hired a finance partner in the firm’s Frankfurt office. Fritz Kleweta joins the firm in Germany from Paul Hastings. He leaves the U.S. firm’s Frankfurt office after 12 years, including four years as a partner beginning in 2019.
APAC
Baker Botts Expands Digital Infrastructure Team with Hire of Paul Hastings’ Asia Head
Corporate partner Neil Torpey, who was senior partner for Asia at Paul Hastings and chair of the firm’s Hong Kong office, has joined Baker Botts as a corporate partner.
Law firm Norton Rose Fulbright has hired a partner in Sydney
Norton Rose Fulbright has made its second Australian partner hire in two days, with financial crime prosecutor Sonja Marsic joining the global law firm in Sydney.
Mori Hamada Hires Japan’s Securities Watchdog Chairman as Special Counsel
Big Four Japanese law firm Mori Hamada & Matsumoto has added criminal case and investigation expert, Mitsuhiro Hasegawa, as special counsel.
International law firm Ashurst has hired an experienced employment partner and former prosecutor to bolster its growing workplace health and safety practice. Sydney-based Scarlet Reid, who joins from the partnership of local firm McCullough Robertson, has specialized in workplace health and safety and employment law for 25 years. Her safety practice focuses on investigations, incident management, and assisting clients to respond to safety regulators.
Rajah & Tann Adds Arbitration Partner to Head Office
Singapore firm Big Four firm Rajah & Tann has added an international arbitration lawyer to its partnership in Singapore. Vanina Sucharitkul will initially be based in Bangkok and will eventually relocate to Singapore.
The Americas
Tech and Data Partner Returns to Reed Smith in Houston
Wendell Bartnick, who focuses on digital health matters, boomeranged back to Reed Smith after departing last August to join Holland & Knight as a partner in Houston.
Dechert Hires Financial Regulatory Specialist From K&L Gates in Boston
In the face of a volatile financial market, Michael McGrath, an asset management and investment funds attorney, is joining Dechert from K&L Gates in Boston as a partner.
Baker & Hostetler Adds Strength to Insurance M&A Practice in Atlanta and D.C.
AmLaw 100 firm Baker & Hostetler announced the addition of three new partners focused on M&A and insurance regulatory work. Two of the lawyers, Tony Roehl and Lori Bibb, will be based in Atlanta, while Joe Holahan takes up his role for the firm—which goes by BakerHostetler—in D.C. All three partners are joining from Atlanta-based Morris, Manning & Martin along with four associates, a counsel, a paralegal and a legal assistant.
Squire Patton Boggs Attorney Takes Helm at Center for Appellate Litigation
Jenay Nurse Guilford has taken the title of Executive Director at the helm of the Center for Appellate Litigation as it expands its mission.
Adams and Reese Triples Atlanta Office Staff with 5 Drew Eckl Lateral Hires
Adams and Reese, a midsize law firm, recently announced five new lateral hires at its Atlanta office. In a March 9 news release, the New Orleans-founded firm said partner Robert L. Welch, special counsel Timothy P. Veith, associates Bennett B. Secrest and Madalyn S. Davis and foreign licensed attorney Javier A. Gonzalez have joined Adams and Reese from Drew Eckl & Farnham. With the new hires, Adams and Reese today has 15 attorneys and advisers in its Atlanta office.
Post & Schell Hires 3 Principals From Marks O’Neill
Post & Schell has acquired three attorneys with leadership experience from Marks, O’Neill, O’Brien, Doherty & Kelly, in a move that occurred before the Philadelphia insurance defense firm lost 19 attorneys to Gordon Rees Scully Mansukhani in the first week of March.
Hogan Lovells Lands Jones Day Health Care Antitrust Leader
Kenneth Field spent a decade at the firm after a spell at FTC’s Bureau of Competition during the Bush and Obama administrations.
Latham & Watkins global co-chair of fintech has joined Allen & Overy
Latham & Watkins global co-chair of fintech has left the firm to join U.K.-led rival Allen & Overy’s Washington D.C. office. Todd Beauchamp joins A&O as head of its U.S. payments practice, according to a release by the firm on Wednesday.
Allen & Overy Hires New York Kirkland & Ellis Partner
Allen & Overy has added Kirkland & Ellis private equity partner Romain Dambre to its U.S. corporate practice, as U.K. headquartered firms continue to grow their stateside ranks.
Tired of Big Law Life, Top IP Lawyer Jumps to Small 6-Person Shop
May Cheng is “betting on herself,” leaving behind 30 years in Big Law to join a small Toronto firm started by an Asian woman. Cheng, a Lexpert/ALM 500-ranked intellectual property lawyer, left elite Canadian firm Osler Hoskin & Harcourt to join the six-lawyer shop Dipchand.
In-House
Bill and Melinda Gates Foundation Appoints New Legal Chief
The world’s largest charitable foundation tapped a longtime member of its legal department to succeed Connie Collingsworth, who has retired after 20 years as CLO.
US dental machinery-maker Dentsply Sirona has hired Richard Rosenzweig as its new GC, with previous legal head Cheree Johnson becoming a special advisor to the company’s recently installed CEO Simon Campion.
Sidley Austin Associate Joins Fund Manager as its First General Counsel
A Sidley Austin London managing associate has joined fund manager Daiwa International Capital Partners (DICP) as its first general counsel. Matthew Anson, who had been at Sidley as a London senior managing associate for three years, joins DICP, which was founded in 2020 as an independent fund manager with the support of Japanese securities firm Daiwa Securities Group.
The GC of transport company Abellio UK has become a director of the company
The general counsel of transport company Abellio UK has become a director of the relaunched company, following the completion of a long-awaited management buyout deal. Edward Walker, who became Abellio UK’s first GC in 2020, has become director of the newly-established Transport UK Group.
Mergers & Alliances:
Lawyers left in limbo as MJ Hudson leaves legal arm behind
Uncertainty looms for lawyers at MJ Hudson as the legal arm will not be included in the sale of the firm to a private investor, The Lawyer can confirm. Tower Gate Capital, a subsidiary of MJ Hudson, has agreed to sell its UK fund management business to a private investor via special purpose acquisition vehicle Khepri.
Greenberg Traurig debuts in Saudi Arabia with former Squire Patton Boggs ally
Top 20 US law firm Greenberg Traurig has expanded into Saudi Arabia by forming an affiliation with US rival Squire Patton Boggs’ former ally, Khalid Al-Thebity Law Firm, in Riyadh.
Howard Kennedy boosts arbitration practice with construction boutique merger
Corbett & Co, a three-partner construction law boutique well-known internationally for its work in all forms of construction disputes, is to merge with London law firm Howard Kennedy.
Office Openings & Closing:
Dentons bolsters Asean footprint with Philippines tie-up
Dentons has announced it will combine with its ally in the Philippines, as the global giant moves to become a leading law firm in the Association of Southeast Asian Nations (Asean) region.
Gowling WLG Launches in Frankfurt with 4 Taylor Wessing Partners
Gowling WLG is opening a third office in Germany with four partner hires from Taylor Wessing and a fifth partner to be announced. The new office will be based in Germany’s financial center, Frankfurt, as part of the firm’s wider growth strategy in “key global markets, including Germany,” and to “drive growth throughout Europe,” according to a statement.
Mori Hamada Firms Up Plans for New York Launch
One of Japan’s Big Four law firms, Mori Hamada & Matsumoto, has announced its plan to launch an office in New York, its first office outside Asia, in the fall of this year.
Brazilian Transactional Firm Candido Martins Opens in Madrid
Founding partner Henrique Martins has moved to the Spanish capital, where he will oversee an office and court clients in an unconventional market for a Brazilian firm.
Financials:
Morrison & Foerster Invested Beyond the ‘Broad Headline of Tech’ in 2022
Revenue at Morrison & Foerster crossed the $1.2 billion mark again in 2022, while future-facing investments in laterals and other expenses contributed to a 12.6% fall in net income.
Womble Bond Dickinson’s 2021 Profit Gains Reversed by New Offices, Travel Costs
A year of double-digit growth in net income and profits per equity partner was followed by one in which these figures dropped by similar margins.
With Diversified Practices and Rising Headcount, Mintz up 5% in Revenue
Even with a slight uptick in the equity ranks, the firm’s profits per equity partner was up 2.9%, hitting $2.16 million.
Blank Rome Nets Second Consecutive Year of Double-Digit Profit Gains
Blank Rome managed to net double-digit profitability increases for the second year in a row in 2022, with equity partner profits climbing 10.2% to $1.3 million and net income 11.6% to $208.9 million.
Following 3 Decades of Growth, Sheppard Mullin Sees Revenue Rise 4.8% in 2022
For three decades, Sheppard Mullin has seen revenue growth. The streak continued in 2022, in the second year the firm has surpassed the $1 billion mark.
Benesch ‘Turned the Page’ From Soaring ’21, With 12% Revenue Growth
The firm’s middle-market private equity clients were “thriving” last year, said Benesch’s leader. “More clients are expanding their relationships with us,” he said.
‘Scale Can’t Be Overstated’: DLA Piper Posts 6% Revenue Gain in 2022
With more than 70 offices around the globe, DLA Piper leveraged its broad footprint and roster of more than 4,000 lawyers to continue growing throughout a year that challenged certain offices in Europe and Asia.
Technology & Innovation:
The Artificial Intelligence Glossary
A guide to the key terms you need to know and understand when discussing AI.
Amid Legal Layoffs, An AI Talent Race is Heating Up
As large language models (LLMs) begin to power a host of innovations, from ChatGPT to contract lifecycle management tools, law firms are looking to get ahead of what they see as both business opportunity and a market disruption.
SVB collapse galvanizes tech sector lawyers as Clifford Chance advises HSBC on rescue of UK arm
The collapse of Silicon Valley Bank (SVB) following a run on its deposits has spurred legal teams on both sides of the Atlantic into action advising on the fall out from what the Financial Times called the second-largest bank failure in US history.
UK’s Move to Circumvent Encryption Has Some Lawyers Concerned
For now, many lawyers in the U.K. are closely following the progress of the Online Safety Bill as it could significantly transform the tech industry. But down the road, the legal sector might not be entirely immune to the bill’s impact either.
Big Four firm PwC has begun using ChatGPT-style tool Harvey
Big Four firm PwC’s tax and legal arm has begun using ChatGPT-style tool Harvey, as the legal sector continues exploring how AI can better assist its people.
Diversity & Inclusion:
Atlanta Leads Big Law’s Attempts to Improve Gender Diversity at the Partner Level
While representation has slowly improved over the years, women still only comprise approximately 28% of the total partnership at Am Law 200 firms, a figure that has been a continuous target for improvement in Big Law.
House Takes Aim at Diversity, Equity and Inclusion in Higher Education
A controversial bill that would carry out Gov. Ron DeSantis’ push to eliminate diversity, equity and inclusion initiatives in state colleges and universities began moving forward Monday in the Florida House, while students came out in force to oppose it.
Elizabeth Rimmer explains why stigma is the main obstacle preventing improvements in wellbeing within the profession – and what can be done about it.
Baroness Floella Benjamin to host Women and Diversity in Law Awards
Baroness Floella Benjamin, one of the first black television presenters in the UK and a prominent diversity campaigner, will host next week’s Women and Diversity in Law Awards.
Market Commentary:
Why Are Clients Suddenly Driving a Harder Bargain With Their UK Law Firms?
UK lawyers, consultants and GCs all agree cost pressures are causing clients to push for discounts, fixed fees and delayed payments, but others say there are also cultural issues at play.
Heavy workloads hinder one in 10 in-house lawyers from completing regulatory duties
Around one in 10 in-house legal teams say their regulatory obligations have been compromised due to pressures to meet organisational priorities, according to a new survey of in-house lawyers based in England and Wales from the Solicitors Regulation Authority (SRA).
Lawyer v Banker: How NQ Pay Compares to Other Top Professions
Aided by the post-pandemic pay war, newly qualified (NQ) solicitors at London’s top paying law are pocketing sums few will have predicted possible just a decade earlier.
India Finally Liberalizes its Legal Market, Foreign Firms Set to Move In
The Bar Council of India (BCI) has announced the liberalisation of the Indian legal market after more than two decades of restrictions.
Everyone Talks About Their Law Firm’s ‘Culture,’ But Is It Possible to Measure It?
Talent wars and remote work are pushing firms to be more systematic about understanding the dynamics that drive the way their personnel interact.
Purposeful Action by Associates Can Create Firm Culture in the Age of Hybrid
The firm culture from which I benefited greatly as a junior attorney can be replicated with the hybrid model, but it will need to be a targeted hybrid approach that relies on more deliberate and purposeful input and action by associates, partners and administrators alike to create what “the best of both worlds” looks like for each firm.
Moves:
UK & Ireland
Skadden barrister moves over to Steptoe
Steptoe & Johnson is expanding its London litigation practice by hiring a barrister from Skadden Arps Slate Meagher & Flom. Jonathon Egerton-Peters has joined Steptoe as a partner. He focuses on international arbitration, litigation and tax across a range of sectors including tobacco, banking and energy.
Sullivan & Cromwell swipes magic circle partner to expand PE practice
Allen & Overy has lost a partner in its London corporate practice to Sullivan & Cromwell. Karan Dinamani makes the move, having joined the magic circle firm in 2014. He previously trained at Ashurst and was given the nod to partner in 2013.
Freeths makes Scotland debut with Addleshaws real estate duo
Freeths has swiped two partners from Addleshaw Goddard to open an office in Glasgow, The Lawyer has learnt. Real estate partners Paul Ockrim and Nick Taylor will kick off the Scottish venture, having spent the last six years at Addleshaws after joining together in 2017.
Linklaters secures private equity ‘rising star’ in London from Travers Smith
Linklaters has bolstered its private equity and financial sponsors team in London with the hire of Travers Smith partner Genna Marten.
Taylor Wessing raids two international rivals for Dublin partners
Taylor Wessing has hired two senior partners in Dublin from rival international firms adding finance and real estate law capabilities to the office. Joining the Anglo-German firm’s Dublin arm are Libby Garvey, who hails from Addleshaw Goddard where she was head of finance and projects, and DWF’s former head of real estate, Órlaith Molloy.
Sullivan & Cromwell adds PE star from Allen & Overy in rare London partner hire
New York law firm Sullivan & Cormwell (S&C) has made a very rare partner hire in London, adding private equity heavyweight Karan Dinamani from Allen & Overy (A&O).
Pinsent Masons hires senior investor-state arbitration partner in London from Jones Day
UK law firm Pinsent Masons has hired an international arbitration partner in London from Jones Day to co-lead its investor-state dispute settlement and public international law team. Sylvia Tonova has joined the UK firm after six years as a partner at Jones Day, having earlier practised at White & Case.
Kingsley Napley adds Ince partner in London to launch IP disputes practice
Kingsley Napley has added a partner from UK rival Ince in London to launch an IP disputes practice. Melanie Hart has joined the firm after nearly five years as a partner at Ince having earlier worked for 10 years at Harbottle & Lewis.
Akin Gump Partner Joins Africa-Focused Firm As London Head
Africa-focused firm ASAFO & CO has hired an Akin Gump Strauss Hauer & Feld partner as its next London managing partner. The outfit has added Weyinmi Popo from Akin Gump’s London base as its next London head.
Ex-Allen & Overy Partner Quits Morgan Stanley for Norton Rose
Norton Rose Fulbright has hired a former Allen & Overy partner to its London capital markets team. Christian Lambie, a securitisation specialist, joins the firm from investment bank Morgan Stanley, where he acted as legal counsel between October 2021 to February 2023, according to a spokesperson for the firm.
EMEA
Baker McKenzie UAE Adds 2 Partners from White & Case and EY
Baker McKenzie has strengthened its tax and disputes benches in the UAE with partners from White & Case and EY. Tina Hsieh joins the firm from EY, where she was tasked with growing EY’s VAT business in the Gulf region, following her success in this area at PwC. She qualified at EY Australia before relocating to the Middle East in 2017, the firm said in a statement.
The Americas
Orrick Hires Fenwick Capital Markets Leader
Fenwick & West capital markets leader Jamie Evans joined Orrick Herrington & Sutcliffe on Monday, based out of Seattle and Silicon Valley.
Boosting Bankruptcy Team, Gibson Dunn Adds Akin Gump Debt Finance Partner in Houston
Gibson, Dunn & Crutcher has expanded its bankruptcy team in Houston by adding Akin Gump Strauss Hauer & Feld debt finance partner Chad Nichols, as the firm, like others, builds its bankruptcy and restructuring teams in anticipation of demand growth.
Gordon & Rees adds 30-strong East Coast team from regional defence litigation firm Marks O’Neill
Am Law 100 firm Gordon Rees Scully Mansukhani has hired a 30-strong team including 19 litigators on the East Coast from regional defence litigation firm Marks O’Neill O’Brien Doherty & Kelly.
Linklaters Adds Trio of Lawyers Across New York, Washington D.C.
Linklaters has added three lawyers across its U.S. bases, as U.K. law firms seek to embed their practices across the country. Partners Judy Kwok and Marius Griskonis have joined their New York office, marking an expansion of its U.S. energy transition ad renewables platform.
In-House
Ince senior partner jumps ship to join marine insurer Gard
Listed UK law firm Ince Group’s senior partner, Julian Clark, is leaving the firm, it has emerged. Clark, a London-based shipping specialist, is set to join Norwegian marine insurance business Gard, Roll on Friday reported today.
Cybersecurity unicorn Armis hires first CLO ahead of planned IPO
Fast-growing cybersecurity unicorn Armis has hired Efraim Harari in Palo Alto as its first chief legal officer as it prepares to go public.
Promotions & Appointments:
A&O’s chief marketing officer leaves after two years
A former employee has rejoined Allen & Overy after seven years to fill its global chief marketing officer role. Michael Michaelides will replace Lucy Murphy, who has been in the role since July 2021. He is expected to join the magic circle firm on 13 March 2023.
Shearman & Sterling has started the transition to its next senior partner early to ensure a ‘seamless passing of the torch’. Incumbent David Beveridge is in the last year of his term and will hand over the reins to New York litigator Adam Hakki following a formal election later this year, the firm said today.
Pillsbury Announces Next London Managing Partner
Pillsbury Winthrop Shaw Pittman has appointed Matthew Oresman as its next managing partner in London. Oresman, who was the firm’s international public policy leader, started his tenure earlier this month, and his term has no fixed end date, according to the firm’s statement.
Stephenson Harwood Reshuffles Asia Leadership
Stephenson Harwood has appointed new leaders in Asia, which will see Jamie Stranger cut short his five-year term as Greater China managing partner, as well as the retirement of Singapore head Martin Green.
Mergers & Alliances:
Howard Kennedy snaps up boutique in construction push
London law firm Howard Kennedy has cemented its construction offering by merging with Richmond-based Corbett & Co, The Lawyer can reveal. The merger goes live today (13 March) and seven lawyers from Corbett & Co will join the Howard Kennedy team. Senior managing partner Edward Corbett will stay on to lead as a consultant, while directors Victoria Tyson and Joanne Clarke, and counsel Taner Dedezade will join as partners.
Taylor Wessing Greenlights Iberian Alliance With ECIJA
Taylor Wessing has agreed a strategic alliance with Spanish firm ECIJA, expanding the firm’s global footprint.
Financials:
Dechert Follows 50% Profit Increase With 14% Drop, Epitomizing Big Law Business Cycle
After a 50% profitability boost that made 2021 the best year on record for Dechert, the global firm’s profits per equity partner (PEP) and revenue dropped 14% and 4% in its most recent fiscal year.
Nelson Mullins Reports Revenue Gains Amid a Year of Expansion Into ‘Underserved’ Markets
Last year, Nelson Mullins Riley & Scarborough reported a 6.9% revenue boost along with 12.9% head count growth as it invested in talent and faced continued demand for litigation.
‘Quality First, Scale Second’: Orrick’s Recipe to Revenue, Profits and Partnership Growth in 2022
The firm, which increased revenue 4.8% to $1.38 billion in 2022, said the quality of its international practices is a huge asset to the firm.
In ‘Steady March Forward,’ Haynes and Boone Posts Another Record Year
Internationally, the firm said revenue in Mexico and Latin America grew by 21 percent in 2022, and the London office benefited from the energy practice. But Shanghai was flat due to COVID-19-related challenges in China.
Can Law Firms Hold the Line on Layoffs and Billing Rates in 2023?
Many large law firm leaders were counting on aggressive rate increases coming into 2023. Some analysts said if they didn’t get them, they’d have to start living with lower profits—or start laying off people.
Technology & Innovation:
UK Supreme Court grapples with whether AI can be a patent inventor as DABUS case is heard
Physicist Stephen Thaler’s long-running attempts to secure inventorship for his AI system DABUS was heard at the UK Supreme Court on 2 March. This is the latest round in the UK court battle; in September 2021 the England and Wales Court of Appeal ruled in a 2:1 decision, that AI systems cannot own or transfer patent rights under UK law.
Diversity & Inclusion:
Closing the gender gap at partner level – time to pick up the pace?
For the last 30 years women have represented over 60 per cent of new entrants to the profession and the most recent data from the Solicitors Regulation Authority tells us that 61 per cent of solicitors currently working in private practice are female. Yet, despite the importance and benefits of gender diversity being universally acknowledged, only 35 per cent of current partners are female.
Sidley and Shearman among firms with biggest gender pay gaps
Sidley Austin, Shearman & Sterling and several other law firms have been called out for their significant gender pay gaps following International Women’s Day on 8 March.
BCLP teams up with clients to launch leadership programme for women lawyers
Bryan Cave Leighton Paisner (BCLP) has teamed up with in-house legal teams from companies including BT, Credit Agricole and National Grid to launch a leadership scheme for senior women lawyers.
Do Firms Truly Support Women in Asia or Is It Just Lip Service?
Fewer than 20% of the regional heads in Asia at the top 50 highest-revenue law firms are women, Jessica Seah writes in The Asia Legal Briefing. So is all this noise and confetti around International Women’s Day just lip service? When and how will firms in Asia get it right?
Market Commentary:
Big Law Continues to Favor Transfers Over Entry-Level Associates
Am Law 200 firms have widened the gap between entry-level and lateral associates in 2022, making about 1,765 more associate hires on the lateral market.
How Financial Services Companies Can Better Control Law Firm Rate Hikes
Banks and insurers often top the list of clients exerting the most pressure on law firm billing, but recent data shows financial services shops let that cost consciousness slip in recent months.
Climate change and energy transition to heat up Middle East disputes landscape
Climate change and energy transition disputes are likely to create a ‘tsunami of change’ for the region’s dispute resolution community, according to the CEO of the Abu Dhabi Global Markets (ADGM) courts.
Saudi Arabia grants first foreign licences to trio of international firms
Clifford Chance (CC), Herbert Smith Freehills (HSF) and Latham & Watkins have become the first international law firms to be awarded licences to practise in Saudi Arabia.
Cravath and SullCrom are Building in London. Should You Be Afraid?
The Wall Street beasts are stirring in London after 50 years of relative dormancy—but is the fanfare warranted, asks the London Lawyer Briefing.
Litigation Funding Prepares for Growth in Europe
As Europe opens its arms, cautiously, to mass litigation and class actions, litigation funders are seeing opportunity and ramping up their plans to seize
Moves:
UK & Ireland
Stewarts loses tax disputes duo to Big Four
Stewarts has lost two partners from its tax litigation and resolution practice to members of the Big Four. Lee Ellis has left the litigation boutique to join KPMG as a partner. Victor Cramer is also leaving the firm to join PwC as a director.
Cravath Set For English Law Debut with Shearman Partner Hires
Cravath Swaine & Moore is set to launch an English Law offering in London, 50 years after it established a presence in the U.K capital, according to several people with knowledge of the situation. The firm is hiring a Shearman & Sterling finance team, led by partner duo Korey Fevzi and Philip Stopford, to lead the charge into English Law, according to three people with knowledge of the situation. The pair are joined by a counsel from Shearman’s London office, they added.
Jones Day Loses London Arbitration Partner to Pinsent Masons
Pinsent Masons has hired an investor-state London arbitration partner from Jones Day. Sylvia Tonova joins Pinsents’ international arbitration practice after 10 years at Jones Day, where she became a partner in January 2017.
EMEA
Pinsent Masons Hires GC to Lead Public Law Practice in Madrid
Amaia Rivas Kortazar is the former general counsel for the Fund for Orderly Bank Restructuring in Spain.
Bowmans Takes M&A Team Leader from Clyde & Co in Tanzania
The new hire will expand Bowmans’ capacity in a growing East African market, said firm chairman and senior partner Ezra Davids.
Allen & Overy Hits ENSafrica to Expand South African Banking Offering
Allen & Overy has appointed banking and finance partner to its Johannesburg office. Deborah Carmichael joins from South African-based ENSafrica, where she spent more than 12 years, prior to which she spent seven years at Deneys Reitz, which subsequently became Norton Rose Fulbright South Africa, she said in an interview with Law.com International.
Clyde & Co Boosts Saudi Practice with Corporate Partner Hire
Clyde & Co has added a corporate partner to its Saudi Arabia office. Mohammed Almarzouki will be based in the firm’s Riyadh office and joins Clyde & Co’s global corporate and advisory practice. He advises family businesses, investors, and corporations on M&A, among other things, according to Clydes’ statement.
APAC
K&L Gates Continues Australian Hiring Blitz with Real Estate Partner
K&L Gates has bolstered its real estate team with the hire of a partner from Australian firm Arnold Bloch Leibler, continuing a strong run of hires in Asia Pacific. Sydney-based Jennifer McCosker has advised commercial property investors and developers on transactions including large-scale property and development finance matters, among others.
DLA Piper Hires Baker McKenzie Thai Partner for Bangkok Practice
DLA Piper has added a new partner to its corporate practice in Bangkok. Thananan Sangnuan joins from Baker McKenzie, where she was a partner.
Yoon & Yang Adds Three Senior Lawyers, Two From Big Six Rivals
Seoul-based Yoon & Yang has hired two senior lawyers, Jason Lee and Song Feng Hong, from its Big Six rivals Kim & Chang and Bae, Kim & Lee. The firm has simultaneously added another senior lawyer, Sung Jin Ro, from Versum Materials, where he was general counsel.
Norton Rose Fulbright Secures Japanese Law Capability with Partner Hire
Norton Rose Fulbright has secured Japanese law capability with the hire of a new Japanese-law qualified banking and restructuring partner, Akihiko Takamatsu.
Goodwin Expands Singapore Office With Investments Funds Hire
Goodwin Procter has made its first lateral partner hire in Singapore since launching in the city-state in October. Matthew Nortcliff joins Goodwin from CMS, where he was head of the firm’s funds and indirect real assets practice in Asia.
DLA Piper has rehired lawyer Jack Brumpton to the law firm’s Brisbane office
DLA Piper has rehired lawyer Jack Brumpton to the firm’s Brisbane office as a partner in the finance, projects & restructuring practice.
Clifford Chance Hires Away NRF Global Tech Co-Head as Partner in Singapore
Clifford Chance has hired a new Singapore technology practice partner, Stella Cramer, from Norton Rose Fulbright.
The Americas
Miller Thomson Expands Vancouver Office With Addition of 4-Lawyer M&A Team
Partner Darcy Wray and three colleagues join the firm’s business law group from a small Vancouver-based boutique.
Sidley Austin has added Germaine Nicole Gurr as an M&A and private equity partner. She joins from White & Case where she was also a partner. ArentFox Schiff has added Eric Fishman as a partner to the firm’s sports group. He joins from Pryor Cashman where he was partner and co-head of that firm’s sports group.
New Partners at McGuireWoods, Jackson Walker
Chelsea Hilliard has joined McGuireWoods’ commercial litigation practice as a partner in Dallas, bringing more than a decade of experience representing clients in high-stakes litigation and corporate governance matters.
Promotions & Appointments:
Shearman & Sterling Promotes London Duo Out of Season Amid Departures
Shearman & Sterling has promoted two London lawyers to partner amid the departure of several of their colleagues. The U.S. led law firm has promoted Trinh Chubbock to its project development and finance team while Kevin Heverin has been promoted to Shearman’s financial restructuring and insolvency practice.
Mergers & Alliances:
Ecuadoran Boutique Falconi Puig Abogados Absorbs Firm in Guayaquil
The expansion brings the firm depth in dispute resolution via five lawyers based in Ecuador’s second-largest city.
Shearman and Hogan Lovells Call Off Merger Talks
“After careful consideration, we have mutually agreed that a combination at this time is not in the best interest of either firm,” said a joint statement from the firms.
Office Openings & Closing:
U.K. led law firm Addleshaw Goddard is set to launch its fourth MENA office
Addleshaw Goddard is set to open an office in Riyadh, in a move that will hand the firm a fourth office in the MENA region.
Morgan Lewis adds 20-strong Shearman & Sterling team for Munich launch
Top 10 US law firm Morgan Lewis has added a 20-strong team from Shearman & Sterling to open its second German office, in Munich.
Spencer West enters three new European markets
UK alternative law firm Spencer West, which deploys a fee sharing model, has expanded into new markets in Germany, Northern Ireland and the Channel Islands through the hire of local partners.
Allen & Overy (A&O) has confirmed plans to relocate its Sydney team a to new space in 33 Alfred Street following a refurbishment that will see the landmark office tower become carbon neutral.
Quinn Emanuel Launches Beijing Office, Cites Growth in US Investigations on Chinese Companies
Quinn Emanuel Urquhart & Sullivan has received Chinese government approval to open a new office in Beijing—its fourth outfit in Asia.
Nelson Mullins Launches New Pittsburgh Office With 12 Porter Wright Attorneys
Despite losing nearly half of its lawyers in Pittsburgh, Porter Wright remains committed to the city, according to managing partner Robert Tannous.
Japanese Firm Miura & Partners Set to Launch Three International Offices
The move comes as the Big Four Japanese firms have launched offices and alliances in Jakarta, Malaysia, and London over the last 12 months.
Loyens & Loeff Pulls Out Of Singapore
The firm concluded it is no longer essential to maintain a physical office in Singapore but said would fly out on a regular basis to meet with clients.
Financials:
Perkins Coie Lays Off 58 Business Professionals
Perkins Coie is laying off 58 business professionals across the firm, citing macroeconomic conditions as well as increased expenses in staffing that have exceeded an acceptable level for the firm.
Fish & Richardson Breaks Half-Billion Revenue After ‘Tremendous’ Year in IP Litigation
The intellectual property-focused firm boosted gross revenue and equity partner profits by roughly 10% in 2022.
Taft Outpaced Peers in 2022 Due to Merger With Detroit Firm
A combination with Jaffe Raitt Heuer & Weiss helped the firm grow revenue by 32%, hitting $549 million.
‘Choppiness’ in Demand Led to 2% Drop in Revenue at Locke Lord in 2022
Profits per equity partner dropped by 9.7% in 2022 at Dallas-founded Locke Lord, but the firm also increased its equity partner numbers in an effort to build the next generation of partners.
McGuireWoods Sees Uptick in Revenue as PEP Falls Amid Shifts in Partnership Ranks
Despite a slowdown in M&A and “disappointing” performance in restructuring and workouts, the firm’s leader said strong performance in middle market PE and health care helped to make up for the losses.
Ince’s Results Delayed Again After Auditor Raises ‘Further Queries’
The repeated postponements has prompted some to ask whether the firm, which suspended its shares in January, might face the possibility of delisting.
‘Investing When Conditions Aren’t Optimal’: Seyfarth Grows Revenue and Partner Ranks
Seyfarth’s London revenue grew 16%, the firm said. And despite challenges in Asia, the firm is still committed to the region “for the long game,” Seyfarth’s chair-elect, Lorie Almon, said.
Law Firm Garrigues Maintains Growth Trajectory as Revenue Climbs 7%
The Spanish firm has roughly equalled the previous year’s growth rate to hit record revenues.
King & Spalding Cracks $2B Threshold
Outside of the U.S., the firm saw its London revenue drop due to a harsh environment for transactional work and its Asian outposts faced similar challenges for dealmaking. But Paris and elsewhere in Europe saw an uptick in activity, as did the Middle East, the firm said.
Greenberg Traurig Follows Up ‘Unicorn Year’ With Even More Growth in 2022
Ten of the firm’s 43 offices are outside the U.S., and CEO Brian Duffy said cross-border work is increasing post-pandemic.
Technology & Innovation:
Legal Tech Market Gaps—Missing Features & Solutions
While the missing-feature fallacy has long been employed as an excuse for not investing in legal tech, there are, in fact, a number of features that are missing, and entire categories of tools that seem inexplicably immature, if not downright absent.
Australian Regulator Launches First Greenwashing Court Action
The Australian Securities & Investments Commission has filed a claim against investment giant Mercer, alleging its sustainable investment fund did not live up to the promises made to investors.
US, EU Agree It’s Time to Regulate AI. Will They Agree on How?
While recent months have seen the U.S. and European Union collaborating on how to mitigate AI’s potentially harmful impacts, the prospect of a transatlantic policy alignment is uncertain.
‘ChatGPT Already Outperforms a lot of Junior Lawyers’: An Interview With Rich
For the last 20 years, the U.K. author and academic has been predicting that technology will revolutionise the legal industry. With the buzz around generative AI, will his hypothesis now be proven true?
Diversity & Inclusion:
Reed Smith’s new managing partner, Casey Ryan, has promised to continue investing in talent at all levels of the firm, including through lateral hires, following the unexpected departure of her predecessor, Sandy Thomas.
The system is modelled after the blind auditions used with great success by symphony orchestras to improve diversity and eliminate bias.
12 Attorneys of Color Appointed to Lead Hair-Relaxer Lawsuits
“It’s one of the most racially diverse slates we’ve ever seen,” said Diandra “Fu” Debrosse Zimmermann, of DiCello Levitt, of the leadership team, which a federal judge approved on Thursday. She and Ben Crump of Ben Crump Law, who both founded Shades of Mass, are two of the co-lead counsel.
Market Commentary:
Is This the Year the Tide Turns for US Firms in China?
China has the power to alter the futures of many top international law firms in Asia. Just look at its crackdown last year on the operations of mainland China-affiliated legal practices of the Big Four accounting firms, its shift in economic policy calling for a focus on domestic markets, or the recent reopening of its borders after three years of harsh COVID-19 restrictions and lockdowns.
Australian Lawyers Doing More Pro Bono Work, Survey Reveals
Australian lawyers are working more pro bono hours and firms have increased their dedicated pro bono staff, but there remains room for improvement, according to a biannual survey.
Strong Market Remains for Partners in Australia Despite Slowing Economy
The market for lateral partner hires in Australia remains strong, despite concerns about an economic slowdown. Demand for Australian associates from law firms overseas, however, has cooled, recruiters say.
Government and Public Affairs Practices Are Booming in Brussels. Here’s Why
The need to offer legal services and government affairs under one roof has increased significantly as the European Commission ramps up its regulation of tech companies, foreign direct investment, and ESG, lawyers say.
How Tech and ESG are Driving German Dealmaking Through a ‘Polycrisis’ World
As private equity and M&A markets flounder, newer markets are keeping lawyers busy, according to partners at Freshfields Bruckhaus Deringer, Hengeler Mueller, PwC Legal and KPMG Law.
Moves:
UK & Ireland
Akin Gump hires second finance partner from White & Case
White & Case has taken another hit in the City after losing a second banking partner to Akin Gump. Paul Yin makes the move, having joined White & Case in March 2022. Prior to this, he spent nearly eight years at Skadden, working also at Ashurst in Sydney and training at Corrs Chambers Westgarth.
Dentons targeted for energy team raid in Scotland
An energy and infrastructure team from Dentons’ Edinburgh office is heading up the road to join Addleshaw Goddard, The Lawyer has learnt. It is understood that partners David Cruickshank, Andrew Orr and Euan Wilson will be making the move shortly.
Debevoise beefs up London arbitration team with hire of King’s Counsel from Gibson Dunn
Debevoise & Plimpton has beefed up its ranks of senior international arbitrators with the hire of Jeff Sullivan KC from Gibson Dunn & Crutcher in London.
Law firm Jenner & Block hires London and DC arbitration partners
AmLaw 200 firm Jenner & Block has hired two arbitration partners, one apiece in London and Washington DC, marking an expansion of the firm’s practice on both sides of the Atlantic. Norton Rose Fulbright partner James Rogers joins Jenner & Block’s London office from Norton Rose Fulbright, where he had been a partner since 2013. King & Spalding partner Kenneth Beale will join the firm’s Washington D.C. office.
Ince Capital Market Head Latest To Leave As Part Of Duo Joining Womble Bond
Embattled U.K. listed law firm Ince has suffered another partner departure, with its capital markets head joining Womble Bond Dickinson. Rebecca Ferguson, who was at Ince for almost a decade and prior to that at legacy firm Davenport Lyons, which was acquired by Ince following its administration in 2014. She also has previous experience at Herbert Smith Freehills and Clifford Chance.
EMEA
Gibson Dunn Hits Shearman For Another Abu Dhabi Partner
Gibson Dunn & Crutcher has further expanded its newly launched Abu Dhabi office with the hire of another Shearman & Sterling partner. Abu Dhabi based banking and finance partner Laleh Shahabi is joining Gibson Dunn after just under four years at Shearman.
KWM Disputes King’s Counsel Joins Dubai Boutique
King & Wood Mallesons veteran Tim Taylor KC has left the firm for a Middle East litigation boutique.
APAC
Han Kun Law Offices has hired away Tian Yuan Law Firm’s Shanghai managing partner Xu Ping. A seasoned advisor on securities, mergers and acquisitions, restructure and financing deals, Yu joins Han Kun as a partner.
DLA Piper Hires Former Australian Federal Court Judge as Advisor
DLA Piper has hired a former Justice of the Federal Court of Australia as an advisor to large public and private sector clients on investigations, class actions and inquiries. John Middleton KC, who served on the court for 16 years and retired in December, will be based in the Melbourne office of DLA Piper, which is trying to raise its profile in Australia.
Luthra & Luthra Hires TMT partner from EY India
Luthra & Luthra has expanded its current four-member TMT practice with the hire of EY’s India’s regulatory advisory director, Vikash Kukreti, as a partner.
Al Tamimi Hires Dubai Shipping Partner from Rival Hadef & Partners
Al Tamimi & Co has hired a specialist shipping partner to its shipping, aviation and logistics department. With over 13 years of experience advising on a wide range of shipping and international trade matters, Wesley Wood has spent five years working in the UAE, building a reputation across the region’s shipping and maritime legal market, the firm said in a statement.
The Americas
On the Move: Tracking the Ins and Outs of California Lawyers
New hires, promotions and awards from across the California legal market.
Greenberg Traurig Adds Orrick Public Finance, Infrastructure Team in Houston
A team of five public finance and infrastructure lawyers from Orrick Herrington & Sutcliffe, led by Houston office leader Adrian Patterson, moved to Greenberg Traurig, which is targeting growth in its public finance and infrastructure practice in Texas and firmwide.
Greenberg Traurig Lands Former Buchanan Ingersoll & Rooney Class Action Co-Chair
Greenberg Traurig is expanding its litigation practice in Miami with a new shareholder, A. Sheila Oretsky, who previously helped lead Pennsylvania-based Buchanan Ingersoll & Rooney’s class action practice.
O’Melveny Adds to Labor and Employment Practice in Texas With Locke Lord Partner
Kimberly Williams, who joined O’Melveny & Myers as a partner in Dallas on Wednesday, said she is excited about growing the firm’s labor and employment practice in Texas.
Cozen O’Connor’s Canadian Buildout Continues With Hire of Corporate and Securities Litigation Chair
Oliver Hanson will join the Vancouver office of the Philadelphia-based firm, with a focus on client retention and growth of the firm’s footprint north of the border.
Cooley Eyes Middle-Market Dealmaking With 5-Partner Team
Cooley has welcomed a five-partner private equity and M&A team as the firm pursues growth in the middle market—in its first move on the U.S. lateral market since it laid off lawyers and staff in December. The team comes to the firm’s Denver office from Perkins Coie. It is led by Sonny Allison, a 20-year veteran of Perkins, with partners Kester Spindler, Danielle Fortier, Amelia Davis and Jeffrey Beuche.
In-House
Sprinklr promotes chief compliance officer to general counsel amid job cuts
New York-based software startup Sprinklr has promoted its chief compliance officer to be its next general counsel and corporate secretary. Jack Scott currently also serves as deputy general counsel and will take over as GC and corporate secretary next month from Dan Haley, who is leaving the firm, although CEO Ragy Thomas said he was still acting as an adviser.
Sullivan & Cromwell Partner to Become Top Lawyer at Apollo
The law firm’s co-chairs called Whitney Chatterjee’s move the “next chapter of her path-breaking career.”
Promotions & Appointments:
Addleshaw Goddard elects professional services specialist as new senior partner
Top 25 UK law firm Addleshaw Goddard (AG) has elected Aster Crawshaw, a partner in its professional practices group, as its next senior partner. London-based Crawshaw will take over the role on 1 May from Charles Penney following the end of his second term as senior partner.
Pinsent Masons Appoints Next Melbourne Office Leader
Pinsent Masons has appointed a construction partner as the next head of its Melbourne office, making for an all-female leadership team across its three Australian offices. Phillipa Beck, who joined the firm from Norton Rose Fulbright in 2020, is a construction law specialist, dual qualified as a lawyer and civil engineer, advising on project delivery and disputes across the energy and infrastructure sectors in Asia Pacific.
Mergers & Alliances:
IP firm Petošević merges with Middle Eastern service provider CWB Group
Eastern European IP firm Petošević has merged with CWB Group, an IP service provider across the Middle East and North African region. CWB is a portfolio company of GC Capital, a private equity firm investing from the Gulf Cooperation Council to south-east Asia.
Australian Firm Slater & Gordon Set For Private Equity Takeover
The world’s first listed law firm is under offer by private equity investor Allegro.
McKinsey’s 10 Principles for Successful Law Firm Mergers
Partners from the global consultancy take lessons from advising corporations and other professional services firms on mergers, bringing tips for how law firms can have a better strategic approach to growth.
Office Openings & Closing:
Charles Russell Speechlys kickstarts private capital initiative
Charles Russell Speechlys is to launch a new practice that focuses on landing new mandates from global private capital clients, families and their businesses. The initiative is being led by Lord Andrew Hay who will serve as the offering’s chairman. Lord Hay previously served as the global head of Knight Frank’s residential division and was appointed as a non-executive director at Charles Russell Speechlys in 2020.
SRA closes Fletcher Day “with immediate effect” to protect clients
The Solicitors Regulation Authority (SRA) has stepped in to close London firm Fletcher Day.
Taylor Wessing Doubles Office Space In Cambridge
Taylor Wessing has moved to a new office in Cambridge, doubling the size of its space in the city in the process. The firm has moved into 3,300 sq ft of offices in central Cambridge which sit opposite the Microsoft Research headquarters and Amazon’s base in the city.
Financials:
Goodwin Procter’s City revenue inches up in 2022
After a bumper 2021 financial year in the City, growth has slowed for Goodwin Procter’s London base in 2022. The latest figures from the firm show a rise of 3 per cent from $161.8m in 2021 to $166.7m in 2022. This comes after a bumper year in which turnover jumped by 63 per cent from $99.1m to $161.8m in 2021.
Hogan Lovells posts 7% fall in revenue to $2.4bn following ‘challenging’ year
Transatlantic law firm Hogan Lovells has seen both its revenue and profit per equity partner (PEP) fall in 2022 in the face of what CEO Miguel Zaldivar portrayed as a year of challenges, ranging from the war in Ukraine to “unprecedented inflation levels”.
Adams and Reese Posts Positive Numbers in Busy Southeast Market
Revenue for the New Orleans-based firm grew by 6% to $137.8 million, while profits per equity partner also rose in 2022.
Husch, Actively Courting Law Firm Combinations, Grows Revenue 17%
The Missouri-founded firm is looking for combinations that could put it in Nashville, other Southeast markets, and/or the Northwest, said Paul Eberle, CEO of Husch.
McDermott Sees 9% Revenue, PEP Growth, With ‘Recession-Resistant’ Practices
The firm saw more than $164 million in revenue from its European offices in 2022 and 33% growth in its London office, said firm chair Ira Coleman, who joked that one reason the London office did so well is that “people pay more for the accents.” He also said the firm’s international haul was up 12%, besting the firm’s overall performance.
Diversity & Inclusion:
UK shadow justice secretary calls for greater diversity in the judiciary
The UK’s shadow justice secretary Steve Reed MP has called on the legal profession to increase judicial diversity to better mirror society.
Lisa Unwin will speak at the closing plenary session of this year’s Women, Influence & Power in Law conference between March 8-9.
Market Commentary:
One year on, International Bar Association vows continued support for Ukraine
The International Bar Association (IBA) has underscored its continued support of Ukraine as the country marks the first anniversary of its invasion by Russia. Noting that it was founded ‘to promote and protect the rule of law and international justice’, the IBA again condemned the invasion today.
Law Firms and Clients Worry Pandemic-Era Lawyers are Undertrained
Amid the Great Recession, law firms laid off swaths of junior lawyers, particularly in practices like real estate. Four years later, as the market rebounded, they realized they didn’t have many qualified mid-level real estate lawyers.
Attorney Compensation: Flush With Cash or Pulling Back?
After two years of ballooning benefits, the air is coming out of Big Law’s big lateral and retention bonuses. Recruiters, analysts and firm leaders say the landscape that led to things like six-figure signing bonuses for mid-level associates and creative perks like $100 non-work meal vouchers has changed, as the transactional market softened last year and the economic outlook for 2023 remains uncertain.
Rare Survey of Deputy GCs Turns Up Widespread Dismay
One hundred percent of respondents reported being “stressed or burned out,” and 94% said their current employer does not offer them the opportunity to develop all of the skills required to move up to GC, according to the study from Axiom and Wakefield Research.
International Arbitration Themes to Watch For in 2023
We may see a greater focus on diversity in tribunal appointments and an increase in claims being filed in the aftermath of Russia’s illegal invasion of Ukraine.
Throughout 2022, with both specific in-depth analysis of practice areas such as Data Protection, Venture Capital and Investment Funds, and weekly updates on partner moves, we charted a year full of developments in the legal market. This data collection allowed us to inspect certain individual or clusters of moves and reveal particular trends. On a broader level, this analysis will provide insight on the direction the market is moving; and on a micro level, it reveals the opportunities for strategic hiring. In a turbulent time of change – whether that be the swelling of in-demand NQ salaries, or the difficulties presented by the war in Ukraine – it is even more important that we understand the legal market that we work in.
In this article, we have used our weekly updates from 2022, where we reported on a range of moves internationally, therefore it is a snapshot of the market and not the whole.
As we discussed in our last article documenting the war for talent, who will emerge in the best possible position at the end of the year very much determined by “how leadership teams respond, devise, and implement a smart and timely response” to various new issues that arise.
In a change from 2021, we captured fewer moves from the in-house market; only 45 out of our 806 documented partner moves involved in house placements. Following the post-Covid boom in the sector, with in-house working conditions, job security, and swollen salaries increasingly attracting high quality legal talent, it is only natural that hiring would slow sooner or later. It should be recognised that the in-house market makes up for a much smaller percentage of the market than private practice and they are, overall, reported less frequently in the sources we use for our updates.
Moving into 2023, it will be interesting to see how the whole market adapts to sky-high salaries combined with a greater desire for work/life balance. Curiously, a survey conducted in Canada released on the 24th of January, has shown that in-house lawyers are struggling to cope with their increased workloads; 46% of in-house counsels have seen an increase in their work-related stress and anxiety levels in the last year, compared to only 13% who have seen a decrease.
When analysing the private practice moves, we found that often a team of fee-earners will accompany a partner move, particularly if a team of partners move. At times, even a whole practice may be uprooted. In 2022, there were 131 team moves in total, with the highest concentration of those team moves happening in July with 17 moves, despite there being a lower concentration of total moves. Some of the more notable team moves in July were BCLP taking a 4-partner real estate team from DLA Piper in Frankfurt; Dentons taking a 3-partner corporate team from EY in Singapore; Paul Hastings taking a 4-partner finance team from Latham & Watkins in London; and Linklaters with a 3-partner raid on Vinson & Elkins leveraged finance practice. The other most notable moves of the year include a power play from Reed Smith who brought in highly touted New York real estate finance 12 lawyer, 5 partner team from Akerman in February. Ropes & Gray similarly made a statement in April, taking a high level 3-partner private equity team from Fried Frank in London.
There were the highest concentration of partner moves in March (126) and April (104), compared to a much slower November (48) and December (34). It can be extrapolated that this is related to the law-firm bonus structures which are decided at the end of the calendar year and paid out in the first couple of months of the new year.
October was uncharacteristically busy with over 20% more moves than any other month in the second half of the year. October was also busy with promotions, with notable names such as Kirkland & Ellis, White & Case, Covington & Burling all announcing a new cohort of partners. Alongside the cluster of partner promotions, which usually fall closer to the end of the year, 6 firms including Goodwin Procter, White & Case and Freshfields all opened up offices abroad. 58 promotions accompanied Goodwin’s new Singapore office opening.
Some of the biggest headlines come in the area of high-profile team moves. 2022 was no anomaly; lots of prominent moves made headlines throughout the year. Reed Smith was particularly active when it came to high profile moves. In February they brought in the top real estate finance team to their New York office from Akerman. Not long after, however, they lost a senior corporate duo from their German base Frankfurt to rivals McDermott Will & Emery. The two-partner team of Rolf Hunermann and Philip Schmidt have around three decades of combined experience covering a range of issues from domestic and cross-border M&A to ESG considerations and will be a huge loss. McDermott followed up that acquisition with a 4-partner raid on Orrick, Morrison & Foerster and Kirkland & Ellis to construct an extremely competitive real estate platform in New York and Chicago in May. Despite the bold acquisitions, however, McDermott Will & Emery suffered their own setback in the same month, losing 4 corporate partners across their New York and Tel Aviv offices to the fast-growing Greenberg Traurig.
For the past decade, and particularly since the Brexit referendum in 2017, the battle for a spot in the fertile Dublin market has been ongoing. Pinsent Masons opened up first in the wake of Brexit with a Financial Services and Technology-focussed practice – their 4th international office opening in 18 months at the time and were eagerly followed between 2017 and 2019 by Covington & Burling, DLA Piper, Freshfields, Clyde & Co. and Simmons & Simmons – who poached Mason Hayes & Curran’s head of investment funds and financial regulation Fionan Breathnach to lead them out.
In July, Browne Jacobsen opened up their first international office in Dublin with an end-to-end TMT practice. Not only ambitious in their growth, Browne Jacobson became the first law firm in history to top the Social Mobility Employer Index in 2021 – and impressively retained that spot in 2022. The index is the leading authority on social mobility in the workplace and demonstrates Browne Jacobson’s targeted efforts to open up the legal profession to young people of all backgrounds. Addleshaw Goddard launched in Dublin as well through a merger with local firm Eugene F. Collins, and Squire Patton Boggs – poaching Dennis Agnew, the head of transactions at Pinsent Masons – have set a date in 2023 to follow suit. Ropes & Gray have started the new year with purpose as they too opened in Dublin with Competition. There have been repeated whispers in the market that Bird & Bird and Linklaters are contemplating expansion into Dublin as well, so it will be interesting to see how the market continues to develop in 2023.
Potentially one of the most notable moves of the year was a rare Goodwin Proctor raid on Latham’s Santa Monica office, which saw three corporate partners joining the US firm. Goodwin have historically relied on the inward promotion of their own exceptional talent pool, so a 3-partner hire from a globally leading law firm is a clear statement of intent. Latham also lost a 4-partner finance team to Paul Hastings in London – a similarly impactful statement from Paul Hastings as they look to compete with the very top firms.
Cleary Gottlieb is a firm quite similar to Goodwin with regards to their hiring strategy – they also prefer to nurture their homegrown talent rather than rely on lateral hires. Cleary raided Kirkland & Ellis – a firm who has been on their own frenzied hiring spree in 2022 – for 3 employment, litigation and funds partners across their New York Washington and London offices. The Magic Circle firms seem have changed their hiring strategy approach, and are looking to build upon their strength in Europe and look toward the US market. A prime example of these efforts came from the 3-partner finance team that Linklaters took from Alston & Bird in New York. Along with the acquisition of a 3-partner finance team taken from Vinson Elkins for their London office, the moves are a symbol of the recent magic circle firm’s efforts to expand their lateral hire operations.
In Frankfurt specifically, Willkie Farr & Gallagher have been making waves over the past few years, with more than ten partner and counsel hires. In May, Willkie brought in leading capital markets lawyers Simon Weiss and Joseph Marx from McDermott Will & Emery, which has not only boosted their global capital markets platform, but is also a demonstration of the firms continuing investment into the German market.
BCLP – despite having quite a turbulent and unsteady year – brought over a 4-partner real estate team from DLA Piper in July, making a marked investment in the Frankfurt market as well. BCLP has had a difficult start to 2023 as being named “the golden turd”. As they start 2023 with more uncertainty surrounding the environment and their culture, we might expect to see some significant departures from the firm and a shakeup in senior management.
2022 was certainly one of the most interesting years we have kept track of. It is unlikely we will ever see a year with such aggressive salary inflation for NQs again, and in the face of a recession, US firms have demonstrated their impregnable attitude when it comes to hiring. 2023 will be a crucial year to see whether the more ambitious hiring strategy from magic circle firms both internationally and in the UK will see their profits keep pace with top US firms. They can certainly expect the hiring frenzy to roll on. There is a counter-cyclical relationship between transactional and disputes hires, so as we are seeing the transactional market slow, we would expect the disputes market to become more active over the course of 2023.
Moves:
UK & Ireland
Simpson Thacher swoops on Travers Smith in London for two funds partners
Top New York law firm Simpson Thacher & Bartlett has hired two funds partners from leading UK independent Travers Smith in London as it positions itself to exploit the increasingly lucrative secondaries deals market.
Dechert Partner Named in Neil Gerrard Cases Leaves Firm
Dechert has parted ways with Caroline Black, a senior white collar partner well known for her association with controversial former partner Neil Gerrard.
EMEA
Weil builds up Paris banking team with leveraged finance partner duo from Allen & Overy
Weil Gotshal & Manges has added a pair of banking partners in Paris from UK rival Allen & Overy (A&O), following on from three partner hires in London last month from leading rivals.
Kirkland & Ellis Lures Clifford Chance’s Germany Restructuring Head
Attention is turning to the restructuring market, which is expected to rally across Europe with recession looming and several large corporates making cuts.
Dentons Hires In Next Spain Disputes Head from Simmons
The appointment comes just weeks after Dentons announced that it will integrate its Barcelona team into its Madrid office.
APAC
Cyril Amarchand Grows TMT Practice With Partner Hire In Mumbai
Cyril Amarchand Mangaldas has expanded its current two-member TMT practice with the hire of intellectual property and education lawyer Aarushi Jain for its Mumbai office.
Baker McKenzie’s Sydney Finance Practice Loses Partner, Gains A&O Lawyer
The Sydney finance team loses an experienced partner but gains a new partner, a former Allen & Overy associate.
The Americas
Foley Hoag refreshes litigation and arbitration leadership
Foley Hoag has appointed a new leadership team for its international litigation and arbitration department.
Skadden Lands Morrison & Foerster Securities Litigation Co-Chair
Mark Foster is Skadden’s first lateral partner hire of 2023, highlighting the law firm’s focus on securities litigation, especially in Northern California.
In House
Tesla hires GC from Dish as it promises ‘world class’ legal team
Tesla has appointed a seasoned lawyer from the telecoms sector as its general counsel in the latest shake-up of its legal department as it promises to build a ‘world class team’.
Software Maker Sprinklr Taps Insider to Succeed Departing GC
Company founder Ragy Thomas said newly appointed GC Jacob Scott will be “an invaluable and trusted adviser in guiding us through our next phase of growth.”
Promotions & Appointments:
Colombia’s Gómez Pinzón Abogados Appoints New Managing Partner
The selection of tax partner Mauricio Piñeros to lead the firm comes during challenging economic times for Colombia.
Linklaters Scraps Global COO Role Amid London Partner Exits
Following a reorganisation of the firm’s business teams leadership, the global COO has left.
Addleshaw Goddard Elects Next Senior Partner
The firm’s partnership has elected Aster Crawshaw to the role, with the professional practices partner replacing Charles Penney.
Office Openings & Closing:
Alternative Legal Service Provider Launches in Honduras
IO-EPIK aims to disrupt the legal services market in Central America and the Caribbean by rolling out budget-friendly solutions with the help of technology and flexible talent.
International law firm Herbert Smith Freehills is shutting its Seoul office
Herbert Smith Freehills is shutting its office in Korea, following other international law firms in the same move in recent years. HSF has had a base in Seoul for almost a decade and will close its doors this year. Office managing partner Mike McClure—recently appointed a King’s Counsel—will relocate to the firm’s London office, HSF said in a statement on Monday.
Mergers & Alliances:
‘This is Not Reactive’: Shearman Outlines Growth Strategy, Accepting Some Partner Losses
Shearman’s leaders are seeking scale and a path to $3 billion in revenue, but they say the firm doesn’t need a merger to survive.
Financials:
Almost half of US lawyers see no rate increases in 2022, Wolters Kluwer report shows
In-house legal departments are fending off rate increases at some of the largest US law firms, with 40% of law firm timekeepers across all firms seeing average fees stay the same or fall, according to a Wolters Kluwer report.
‘We Knew It Would Get Worse Before It Got Better’: Law Firm Profitability Index Hits New Low
Law firms can see some signs of improvement, including moderating expenses and transactional demand that remains above pre-pandemic levels. But a shaky economy in 2023 could put that in jeopardy.
Private Equity In-House Lawyer Pay Outstrips Other Sectors, Report Shows
Recruitment company Taylor Root’s salary guide shows the state of in-house remuneration across various UK business sectors.
Gibson Dunn Continued Record Revenue, Profit Streak in 2022
Firm chair and managing partner Barbara Becker said the firm’s success in London has been “extraordinary” and in the Middle East, where the firm launched a new office in Abu Dhabi, it has also seen very positive results.
Proskauer Again Sees Record Revenue and Profits in Year of ‘Large Transactions and Trials’
The percentage growth wasn’t as high as in 2021, but the firm’s 2022 performance managed to build on that banner year and then some.
Technology & Innovation:
Allen & Overy integrates ChatGPT-style chatbot to boost legal work
Allen & Overy (A&O) has partnered with a startup backed by ChatGPT creator Open AI to introduce a chatbot intended to help its lawyers with a variety of legal tasks.
Mishcon de Reya Looks Further into ChatGPT
The UK firm is the latest in a host of law firms looking to find uses for the fast-developing chat technology.
Meet the K&L Gates Partner Who Wants Crypto to Be Better Regulated
“I spend most of my waking hours thinking about the regulation of these assets and I love it. I just wish the law was clearer so companies will know what is required to bring crypto products to market,” said K&L Gates partner Andrew Hinkes.
Diversity & Inclusion:
Gibson Dunn and Arnold & Porter Achieve Black Equity at Work Certification
The holistic program prompts participants to advance Black equity across their organizations and within their communities.
DLA Piper tops global ESG law firm ranking as UK firms dominate
DLA Piper has topped Impactvise’s inaugural environmental, social and governance (ESG) law firm ranking, which measures the ESG performance of more than 1,000 firms globally.
Simmons is fixing its women problem
Women in law still face very many challenges, but despite this it should be acknowledged that gender diversity within partnerships has come a long way, and the speed of change is accelerating. In The Lawyer’s UK Signal channel this month, we have looked at the firms that have done the best at moving towards gender parity in the last five years. And in the City, Simmons & Simmons stands out.
Clifford Chance Tops Stonewall’s 2023 Employer Rankings
While Linklaters was another strong performer this year, former high achievers Slaughter and May and Pinsent Masons have dropped out of the rankings altogether.
Market Commentary:
Is Working In-House Still The ‘Easy’ Option?
With law firms adopting better working practices and in-house lawyers being increasingly ‘exposed to all the harshness of the corporate world’, could we see the work-life pendulum swing?
Are UK Law Firms Also Going to Make Job Cuts?
A few months ago, a London partner at a large international firm spoke to a room of associates about the importance of coming back into the office. The firm expects you in at least three days a week, ideally more, he said.
Half of UK Partners Want to Set Up Their Own Law Firms, Research Shows
Partners at larger law firms are increasingly likely to break away from their current firm to go it alone, research by litigation funder Harbour has found.
Moves:
UK & Ireland
Star signing: Former BLP chief switches to Mishcon
The former leader of Berwin Leighton Paisner (BLP) has joined Mishcon de Reya, where he will be an adviser.
Silk joins bench after two decades at Keating Chambers
Keating Chambers silk Adam Constable KC is soon to be elevated to the bench as a judge at the Technology and Construction Court (TCC), The Lawyer understands.
Dickson Minto partner leaves firm ahead of Milbank deal
Fried Frank Harris Shriver & Jacobson has hired a partner from Dickson Minto ahead of the latter’s merger with Milbank.
Stephenson Harwood makes double partner hire in London to boost tech disputes coverage
Stephenson Harwood has hired two dispute resolution partners from Hausfeld and Herbert Smith Freehills to bolster the firm’s technology group in London.
Shearman & Sterling’s London M&A head quits for Sidley as international partner departures mount
Shearman & Sterling has lost its EMEA and Asia M&A head to Sidley Austin as partner departures from the New York firm’s international network mount up against the background of merger talks with Hogan Lovells.
EMEA
Herbert Smith Freehills (HSF) has secured a five-strong team from UK rival Simmons & Simmons to launch a private equity and capital markets offering in Milan.
Charles Russell Adds 2 Disputes Partners in Dubai, London
Charles Russell Speechlys has added two new partners to its litigation and dispute resolution practice, in Dubai and London.
Al Tamimi Hits Gowling, Trowers for Corporate Partner Duo
The Middle East powerhouse has set the pace for new hires in the region in 2023.
APAC
Clyde & Co adds lawyers from Baker McKenzie for Egypt debut
Clyde & Co has relocated two of its lawyers and added a further two from Baker McKenzie to open an associated office in Cairo, Egypt.
Duane Morris targets ‘marquee’ IP talent with triple partner hire
Duane Morris has hired three IP partners — in Washington DC and Silicon Valley — as it looks to grow its national practice by securing “marquee talent”.
Morrison Foerster secures private equity real estate partner in Singapore from White & Case
Top 40 US law firm Morrison Foerster (MoFo) has bolstered its private equity bench in Singapore with a partner hire from White & Case — its second partner-level lateral in the city state this year.
The Americas
Orrick secures former Hughes Hubbard arbitration group co-head in New York
Hagit Elul arrives hot on the heels of Orrick’s deal to merge with US litigation firm; Hughes Hubbard reshuffles leadership.
Big Law Kicks Off 2023 by Adding Corporate Firepower in California
Pillsbury and Holland & Knight added corporate partners this week, right on the heels of big hires at Latham and Goodwin in California last week.
‘We’re Not Done Yet’: Duane Morris Hires Yet Another California Partner
Shireen Wetmore is one of nearly two dozen attorneys to join Duane Morris in California in the last six months.
Joel Cohen had been a leader of Gibson Dunn’s white-collar practice. His exit follows the hiring of two co-chairs this year and the departure of two global litigation leaders last fall.
Dechert Hires Transatlantic Trio of Partners From Orrick
The firm is adding the former leader of Orrick’s antitrust and competition practice in Washington, D.C., as well as partners in San Francisco and London. Douglas Lahnborg will be the first “on the ground, permanent” antitrust practitioner for the firm to be based in London.
In-House
Fico lands head of legal from Databricks
Software analytics company Fico has hired its new head of legal EMEA from software rival Databricks.
Chicken Salad Chick Taps GE Veteran as First Legal Chief
Because of the chain’s rapid growth, “we saw the need to add a high-level general counsel to our executive team,” CEO Scott Deviney said.
UK Engineering Giant Meggitt Shakes Up In-House Legal Team Following Takeover By US Rival
British engineering company Meggitt has had a shake up of its in-house legal department following its $6.3 billion acquisition by U.S. giant Parker-Hannifin last year.
Promotions & Appointments:
Blackstone Chambers appoints new director
Magic circle set Blackstone Chambers has elected Mat Swallow as its new chambers director, after stalwart Julia Hornor announced she will retire in May.
US Firm Changes Up London Management for First Time in Over 20 Years
U.S. law firm Duane Morris is switching up its London management for the first time since it launched an office in the city over 20 years ago.
Mergers & Alliances:
Aging Lawyer Demographics Provide Growth Opportunities for Acquisitive Firms
The buying and selling of law firms has accelerated over the last two years, thanks to leaders who see retirements of older lawyers as a strategic opportunity to grow their practices.
Office Openings & Closing:
Rimôn Opens Second Office in Colombia With Partner Hire
Partner Natalia Martinez Villa joins Ibarra Rimôn in Medellín, where she was previously in-house counsel at an electricity and construction firm.
Litigation Funder Burford Capital Launches in Middle East to Meet Growing Demand
While the firm does not claim first-mover advantage in the region, it believes the litigation funding market there is far from saturated.
Clyde & Co Opens Associated Office in Cairo
The firm’s ambitious international expansion strategy has also seen it open offices in Italy and Thailand in 2023 alone.
Financials:
Ince Group delays results for fifth time
The Ince Group has missed yet another deadline in publishing its 2022 annual report and interim results for H1 2023.
Shearman & Sterling lays off 38 US lawyers and staff
New York law firm Shearman & Sterling has laid off 38 lawyers and professional staff in the US, citing “continuing and growing economic headwinds”.
Davis Wright Tremaine lays off staff, citing ‘excess capacity’
Top 100 US firm Davis Wright Tremaine has let go of 21 professional staff members, becoming the latest US law firm to cut jobs amid more challenging economic conditions.’
How Goodwin Procter Turned 1,000 Lateral Associates Into 250
Prior to January’s layoffs, the law firm had hired more than 600 lateral associates and lost nearly 400 since 2020, a Law.com analysis found.
Clifford Chance, HSF Lawyers Anticipate Muted Asia M&A Market
The firms both published reports charting their expectations for M&A in the region, forecasting a slowdown amid growing investor caution.
Technology & Innovation:
Freshfields’ paralegals take on new roles to improve client delivery
Freshfields is offering paralegals new roles to improve the interaction between its lawyers and support services in a client delivery revamp.
O Shaped Lawyer strikes first partnership deal with global firm
O Shaped Lawyer was founded by general counsel Dan Kayne, who wanted to see a movement for change in the legal profession by combining leadership expertise and general counsel insight and experience to make the legal profession more human.
TLT and Simmons & Simmons partner with Barclays to launch joint training contracts
Barclays has partnered with UK law firms TLT and Simmons & Simmons to launch a joint training contract that will see trainees split their time evenly between in-house and private practice.
Diversity in E-Discovery Is Hindered by Lack of Data on Marginalized Workforce
There is far more the e-discovery industry could be doing to understand and address its diversity shortcomings, said Appellate Division, First Department Justice Tanya R. Kennedy at the Annual University of Florida E-Discovery Conference.
What Successful Hybrid Firms Are Doing
March 2023 will mark the three-year anniversary of the onset of the coronavirus pandemic and the mandated closure of non-essential businesses. During the two-year span of work-from-home that ensued, law firms — for the most part — performed well financially, posting record profits.
Tracking Generative AI: How Evolving AI Models Are Impacting Legal
A running compilation of how the legal landscape continues to be shaped by generative AI tools, from GPT technologies to art generation tools and beyond.
CMS, Eversheds Sutherland and Simmons & Simmons Venture Further into ChatGPT
Staff and partners at firms are exploring the much-vaunted generative AI, urging a balance of excitement and caution.
Law Firms May Not Be Embracing GPT-3.5 Anytime Soon
While legal tech providers are steadily releasing tools leveraging GPT-3.5, even innovative law firms who regularly develop legal tech may have a challenging time following suit.
Diversity & Inclusion:
Law Has a Race Problem and Too Few People Care
Added to the widespread apathy is a growing resistance to change, and Black lawyers are noticing, writes The London Lawyer.
Rosenblatt’s ex-CEO accused of using racial slur in discrimination claim
Listed law firm RBG Holdings, which incorporates the businesses of Rosenblatt and Memery Crystal, has failed to strike out a race discrimination claim by its former head of employment.
Letter to the Editor: Column Reinforced Harmful Gender Stereotypes About Lawyers, Caregiving Roles
A better approach, in our view, would have been to write this headline and column without gender-assuming language, and instead speak about the needs of all parents and caregivers, whether caregiving for young children, elderly relatives, or any other individuals who might need support and assistance.
Overlooked in Meetings, Comments on Appearance Among Obstacles Women Face in Law
Respondents to a survey by Mayer Brown and a non-profit group spoke of a “boy’s club culture” in the Hong Kong legal scene that helped marginalise women and exclude them from opportunities.
Former Law Society President I. Stephanie Boyce Joins Linklaters
Former Law Society of England and Wales President I. Stephanie Boyce has joined Linklaters as a strategic adviser, as law firms continue to focus on ramping up their diversity efforts.
Moves:
UK & Ireland
BCLP Exits Continue as Jones Day Swipes Real Estate Partner
Bryan Cave Leighton Paisner real estate partner Matthew Peel has left to join Jones Day in London.
Schulte Turns To In-House Talent For Rare London Hire
Meanwhile, US firm Sidley Austin has recruited its latest London partner from an investment firm.
Travers Loses Another Practice Head As White & Case Latest Firm To Swoop In
White & Case has strengthened its London tax practice with the addition of Travers Smith’s M&A tax head.
Leading US public international lawyer joins 11KBW in London from Foley Hoag
Paul Reichler, who co-founded the international arbitration practice at Foley Hoag more than 20 years ago, has retired from the US firm and joined London set 11KBW.
Radcliffe Chambers raids Five Paper for commercial team
Radcliffe Chambers has swiped a team of four from Five Paper’s commercial practice group, including its commercial team leader Simon Mills.
BCLP Head of Mining Jumps Ship for Simmons & Simmons
Simmons & Simmons has hired Bryan Cave Leighton Paisner’s head of mining, Alexander Keepin.
Slaughter and May private equity head Jeff Twentyman is shortly retiring
Jeff Twentyman is the latest heavyweight member of Slaughter and May to prepare to step down from the partnership, as the firm’s old guard continues to change.
EMEA
McDermott Will & Emery has hired Mayer Brown’s former Paris head of investigations to co-head its global investigations and compliance group.
Charles Russell Adds 2 Disputes Partners in Dubai, London
Charles Russell Speechlys has added two new partners to its litigation and dispute resolution practice, in Dubai and London.
Clyde & Co Adds Corporate Partner in Saudi Arabia
Clyde & Co has hired a senior corporate and commercial lawyer in the Saudi capital, Riyadh.
Garrigues Adds Partners to in Barcelona and Bogotá Practices
The hires come on the heels of a report which found that women lawyers account for less than a third of the top law firm positions in Spain.
Ashurst Hits Bird & Bird for Munich Tech Partner
The hire comes as Ashurst marks out digital transformation as a key strategic focus.
McDermott taps Noerr and Latham to expand German private equity team
Top 25 US firm McDermott Will & Emery has made a twin partner hire from Noerr and Latham & Watkins to boost its German private equity practice.
PwC Legal Hires Pinsent Masons Frankfurt Real Estate Partner
Tobias Nuß will join as a director/local partner in the Frankfurt office in the firm’s real estate practice. He advises in all areas of the real estate industry and corporate structuring as well as in cross-border transactions.
APAC
DLA Piper Hires Nishimura & Asahi Corporate M&A Partner in Tokyo
DLA Piper has bolstered its cross-border M&A and energy-related project advisory capability with the hire of corporate M&A partner Peter Armstrong from Nishimura & Asahi in Tokyo.
DLA Piper hires Loyens & Loeff Singapore Head for Asia Tax Practice
DLA Piper has appointed international tax veteran Barbara Voskamp as a partner for its Singapore office.
Australia’s Clayton Utz Bolsters Environment Team With Partner Hire
Australian corporate law firm Clayton Utz has hired a planning law partner to join its environment and sustainable development team in Brisbane.
Sidley Austin Adds Hong Kong Disputes Partner From Reed Smith
Sidley Austin has hired a new partner, Stephanie Chan, from Reed Smith in Hong Kong.
Reed Smith and Morgan Lewis Add Debt Securities Partners to Hong Kong Practices
Reed Smith and Morgan Lewis have both appointed a new debt securities partners to their Hong Kong offices.
Pinsent Masons Hires Corporate Partner From DLA Piper in Australia
Andrew Fisken led DLA Piper’s China practice in Australia. He specializes in cross-border M&A with a focus on advising clients from East Asia and Australia on their strategic investments.
K&L Gates Takes 4-Lawyer Team from Australia’s HWL Ebsworth
K&L Gates has hired a corporate partner and three lawyers from Australian firm HWL Ebsworth, as it continues to grow its corporate and asset management and investment funds teams.
Norton Rose Parts Ways with Sydney Duo
Norton Rose Fulbright has parted ways with two lawyers, a partner and a special counsel, both based in Sydney.
The Americas
Top 50 US law firm Winston & Strawn has hired a pair of class action litigators in San Francisco from Squire Patton Boggs as it continues to target growth in California.
Cadwalader secures leveraged finance partner quartet in Charlotte from King & Spalding
Wall Street firm Cadwalader Wickersham & Taft has hired a quartet of leveraged finance partners from King & Spalding in Charlotte, North Carolina, in a move that promises to significantly grow its market share in the leading US financial centre.
Arbitration Chambers welcomes big names in London and New York
A quartet of eminent arbitrators from different parts of the world has joined Arbitration Chambers in New York and London.
Promotions & Appointments:
Bayer Names Next General Counsel, Swoops for Daimler’s Ex-Legal Chief
The new appointment was previously legal chief at Daimler Trucks, and prior to that was group GC at Daimler itself, now known as Mercedes-Benz Group.
Farrer & Co Elects New Senior Partner
U.K. law firm Farrer & Co has elected its next senior partner, as incumbent Anne-Marie Piper prepares to retire.
DLA Piper Life Sciences Head Takes Up Brussels Role Amid EU Regulatory Push
The move, which is preliminary to the firm creating a regulatory hub for EU work, is yet another signal of the ever-growing importance of the Belgian capital to global law firms.
Mergers & Alliances:
Taylor Wessing in talks with Spain’s ECIJA to form strategic alliance
Top 20 UK law firm Taylor Wessing is in talks with Spanish heavyweight ECIJA to form a strategic alliance.
Clyde & Co Merges With Boston Boutique
Four law firms have now announced boutique tie-ups in a major U.S. market in the last 24 hours, including Clyde & Co. merging with a Boston firm.
It’s off: Womble Bond and BDB Pitmans abandon talks
After several months of negotiations, the proposed tie-up between Womble Bond Dickinson and BDB Pitmans will not be going ahead.
Office Openings & Closing:
DAC Beachcroft opens in Italy with eight-strong insurance team from ADVANT Nctm
DAC Beachcroft (DACB) is expanding into Italy with the addition of a team of eight insurance lawyers from Italian firm ADVANT Nctm.
Watson Farley & Williams opens in Seoul after hiring partners from two rival firms
Top 40 UK law firm Watson Farley & Williams (WFW) has added a partner apiece from K&L Gates and Herbert Smith Freehills (HSF) to open in Seoul in a move it has dubbed a ‘game-changer’ for its Asia Pacific projects practice.
Greenberg Traurig relocates 11-strong team to launch in San Diego
Top 15 US firm Greenberg Traurig has relocated four of its shareholders alongside a team of counsel and patent agents to open an office in San Diego, the firm’s sixth in California.
Dentons to close Barcelona office, integrate team into Madrid base
Dentons is set to shutter its Barcelona office and integrate its team there into its other Spanish base in Madrid.
Nagashima Ohno Launches Indonesia Office With Local Alliance
Japan has been a major source of investment for Indonesia, with 10 Japanese companies, including Toyota Motor and Mitsubishi Motor, having pledged to invest a total of $5.2 billion in the Southeast Asian country over the next few years. The Indonesian government has also recently sought to boost foreign investment.
Kirkland & Ellis mulls Saudi launch in infrastructure play
Kirkland & Ellis is considering planting its flag in the Kingdom of Saudi Arabia (KSA). The new branch would make it the US firm’s first office in the Middle East and Kirkland sources suggest that it would initially focus on the energy and infrastructure sector.
Financials:
ALSPs become $20bn global market after latest growth spurt, study shows
Alternative legal service providers’ growth rate has accelerated over the past two years as law firms and corporate legal departments increasingly seek ways to become more efficient, according to a joint study by the Thomson Reuters Institute, Georgetown Law and the Saïd Business School.
Shearman & Sterling’s Decisions Over Partner Pay, Practice Mix and Office Strategy Fuel Struggles
After two decades of slow growth in revenue and profits, Shearman & Sterling has been retrenching in several overseas offices while its total partnership ranks have fallen, with some partners leaving for higher pay at other law firms and others being shown the door.
Why Are UK Firms Losing Market Share in Asia
In the battle for market share in Asia, U.K. law firms are losing out, while U.S. firms are doing just fine, writes Jessica Seah in the Asia Legal Briefing. So what’s up?
Freshfields US Revenue Growth Outstrips All Other Regions, Accounts Show
The numbers show the importance of the US to the firm’s strategy as it seeks to compete in the world’s largest legal market.
Diversity & Inclusion:
UK lawyers increasingly concerned about their career prospects, LawCare study shows
Almost a quarter of UK legal professionals are increasingly concerned about their careers, a sharp jump on the previous 12 month period, according to LawCare’s 2022 impact report.
Baker McKenzie’s Brussels managing partner has temporarily stepped down while the global giant conducts a ‘thorough review’ into a former lawyer’s allegations she was subject to multiple instances of discrimination during her time working at the firm.
Moves:
UK & Ireland
Shearman’s EMEA, Asia M&A Head Quits for Sidley Austin
Another Shearman & Sterling partner has quit the firm amid its merger talks with Hogan Lovells.
HSF Adds Kirkland Private Debt Partner To London Office
Herbert Smith Freehills has strengthened its London finance practice with the addition of a Kirkland & Ellis partner.
White & Case Partner Leaves To Join U.S. Rivals Jones Day
Jones Day has strengthened its London arbitration practice with the addition of a White & Case partner, according to a person with knowledge of the situation. Julian Bailey, who is leaving after a decade at the firm, first made partner in early 2016, according to a spokesperson for the firm.
White & Case Private Credit Partner Moves to Akin, Gump
Akin Gump Strauss Hauer & Feld has hired private credit partner Fergus Wheeler from the London office of White & Case.
Slaughter and May Corporate Star Andy Ryde Retires
Slaughter and May heavyweight Andy Ryde is retiring after 35 years at the firm, having acted on some of the biggest deals in the U.K. elite firm’s corporate practice during his tenure.
Shoosmiths hires COO from DLA Piper
Shoosmiths is kicking off 2023 by appointing Rachel Reid as the firm’s chief operating officer (COO).
The Americas
White & Case Grabs 3 Bracewell Trial Partners in Houston
Bracewell partners Sean Gorman, Chris Dodson and Andrew Zeve joined White & Case as partners in Houston on Tuesday, expanding the global firm’s trial team in the Texas city.
Brown Rudnick Lands 4-Lawyer Corporate Group From Seyfarth Shaw
The group will operate out of the firm’s Washington, D.C., office while also spending time in New York and on the West Coast as the need arises.
Jones Day’s Atlanta Office Scoops Up Former Georgia Supreme Court Chief Justice
On Wednesday, Jones Day announced its Atlanta office is getting a new partner straight from Georgia’s highest court.
Clyde & Co, Cuatrecasas Add Partners in Chile
The South American country has been a key focal point for both international firms as they expand their footprints in Latin America.
K&L Gates reels in seven-partner private equity team from Dentons’ Pittsburgh arm
K&L Gates has hired a seven-partner corporate and private equity team from Pittsburgh-based rival Dentons Cohen & Grigsby.
Goodwin Procter adds 14-partner team from Troutman Pepper to cement Philadelphia presence
Top 20 US firm Goodwin Procter has secured a group of 14 partners from Troutman Pepper to officially launch in Philadelphia. The team includes rainmakers and former practice heads and is split between Goodwin’s life sciences, healthcare transactions and white-collar defence teams.
Pallas Partners grows in New York with partner hire from Gibson Dunn
London-based litigation boutique Pallas Partners has grown in New York with the hire of a commercial litigation partner from Gibson Dunn & Crutcher along with two associates from other firms.
In House
Nokia Appoints Permanent Chief Legal Officer
Telecoms company Nokia has appointed Esa Niinimäki as its chief legal officer.
Mimecast promotes compliance chief to general counsel
Mimecast has promoted its deputy counsel and compliance head to the general counsel role, the Lexington, Massachusetts-based company has announced.
Royal London appoints new GC from insurance rival AXA
Royal London has hired AXA’s UK group regulatory and compliance director as its new general counsel (GC). Julie Whitehead has made the move after 17 years with AXA, beginning her career at the insurance giant in 2005 as senior counsel.
Promotions & Appointments:
Jones Day Names New Corporate Leaders Following Top M&A Lawyer’s Departure
Vica Irani, one of the new leaders, is based in London. The others – Andy Levin and Randi Lesnick – are based in New York. They will lead the firm’s newly structured corporate practice, which includes M&A and private equity sub-practices.
Email Security Company Mimecast Promotes Deputy GC to Legal Chief
Chris Dollase is taking the legal reins of Mimecast eight months after it was sold to a private equity firm for $5.8 billion.
Travers Smith Names New Head of Private Equity Following Departures
Travers Smith has promoted partner Lucie Cawood to head of its private equity and financial sponsors practice.
Lewis Silkin names incoming co-managing partners
Lewis Silkin has announced that employment partner Richard Miskella and IP and advertising law specialist Jo Farmer will serve as its next joint managing partners.
Macfarlanes maintains status quo with leadership reappointment
The senior partner at Macfarlanes has been reappointed for a second term.
Mergers & Alliances:
Hogan Lovells, Shearman Talks Progress With Management Meetings in London & New York
Merger talks between Hogan Lovells and Shearman & Sterling have continued to progress in recent weeks, with management from both firms meeting on each side of the Atlantic.
Atlanta, Chicago law firms announce merger to create AmLaw 150 firm
Atlanta-based Smith Gambrell & Russell (SGR) is to merge with Chicago’s Freeborn & Peters in a move that will create a firm with turnover of more than $260m.
Taylor Wessing in talks with Iberian firm over strategic alliance
Taylor Wessing is looking to develop a strategic alliance with Iberian firm ECIJA in a move that would greatly expand the former’s geographic offering to its tech and venture capital clients.
Office Openings & Closing:
Phila. Law Firm Leaders Find Opportunity, Not Threat, in Goodwin Procter Arrival
While Goodwin Procter’s arrival into the Philadelphia legal marketplace may slightly raise the competitive pressures on homegrown law firms, leaders in the city hope that the entry of another Am Law 50 firm will raise the region’s profile as a life sciences transactional hub.
Clydes’ Manchester staff move offices as BLM integration continues
Seven months after Clyde & Co merged with insurance firm BLM, integration plans are underway in Manchester as staff prep to switch offices.
Financials:
A&O, DLA and Noerr Build in Germany’s Financial Hubs
Three law firms have expanded their financial offerings in the heart of Germany’s two main financial hubs, Frankfurt and Munich.
Merger or Not, Hogan Lovells Charts Path Toward Greater US Market Share
CEO Miguel Zaldivar expects the firm’s 2022 revenues and profits will land below the previous year’s record-setting levels. But his interest in growing the firm’s heft in New York, Texas and California remains unchecked.
Mason Hayes & Curran sees turnover pass €100m mark for the first time
Turnover at Irish firm Mason Hayes & Curran (MHC) has exceeded €100m for the first time after growing revenue 8% in 2022 to reach €106m.
Technology & Innovation:
Legal Departments Say They’re Headed in Right Direction on ESG, But It’s Straining Their Resources
Legal departments at major companies say almost universally that they have become the in-house hub for environmental, social and governance issues (ESG), a new white paper has found.
Live Nation Antitrust Showdown May Accelerate Attacks Against Big Tech
The antitrust hearing on Capitol Hill this week was about Live Nation, not Big Tech, but it likely will add momentum to efforts to clamp down on the power of tech giants, legal experts say.
BCLP Launches New Billable Hours Policy Including ‘Vacation Bonus’ Reward
Bryan Cave Leighton Paisner has become the latest firm to shake up its billable hours policy, introducing a scheme the allows its best performers to earn a vacation bonus.
Diversity & Inclusion:
Are Greenwashing Lawsuits a Passing Fad?
Greenwashing lawsuits are on a meteoric rise. Over the past five years, private and government plaintiffs have filed numerous greenwashing lawsuits to challenge business claims about sustainability achievements and environmental friendliness. These lawsuits have impacted nearly every major industry. But, are greenwashing lawsuits simply the latest litigation fad that will die down as businesses adapt to avoid the claims made in the lawsuits or will they continue to grow in volume in a hostile regulatory environment?
Clifford Chance Appoints First Woman As Americas Managing Partner
Clifford Chance has appointed its global antitrust co-chair as its next Americas managing partner. Washington D.C.-based partner Sharis Arnold Pozen will take over the role from May 1.
BCLP adds former Baker McKenzie recruiter in Chicago as US diversity director
Bryan Cave Leighton Paisner (BCLP) has appointed a new US director of diversity and inclusion. Devin Carter has joined the firm in Chicago from consultancy AlixPartners and previously worked in diversity at firms including Baker McKenzie and McKinsey.
Moves:
UK & Ireland
Morrison Foerster secures senior Bank of England adviser to bolster London fintech offering
Top 40 US law firm Morrison Foerster (MoFo) has hired a Bank of England senior adviser to boost its financial services and fintech offering in London.
Macfarlanes invests in funds team with partner hire from Sidley Austin
Top London independent law firm Macfarlanes has hired a highly rated investment funds partner from Sidley Austin in London.
Simpson Thacher Hits Travers As Firm Suffers Another Blow
U.S-headquartered firm Simpson Thacher & Bartlett has hired a London financial regulatory partner from Travers Smith, in the latest blow to the U.K. firm. Stephanie Biggs, who will co-lead the firm’s European financial services and funds regulatory team at Simpson Thacher alongside partner Owen Lysak, had been a partner in Travers’ financial services & markets department for eight years
Corporate and Real Estate Teams See Partnership Influx
Three firms have hired into their corporate, funds and real estate practices, amid a busy London lateral hiring market. Bryan Cave Leighton Paisner has added to its London partnership with a Reed Smith corporate and real estate partner. Chris Beaumont-McQuillan will join BCLP this February, and is set to form part of the firm’s corporate real estate and funds team. He was a partner at Reed Smith since 2021.
White & Case Loses Second High-Yield Partner Of The Day
Clifford Chance has strengthened its high yield practice in London following the appointment of a White & Case partner.
Double Partner Hire Strengthens High Yield Partnership for Weil
Weil, Gotshal & Manges has announced the arrival of two new London partners in a bid to boost its high yield practice.
Deloitte Legal Boosts Partnership with Freshfields’ Former Innovation Chief
Deloitte Legal has strengthened its legal management consulting team with the addition of Freshfields Bruckhaus Deringer’s former legal innovation chief, who joins as a partner.
Linklaters Dealt Another Blow With London Corporate Partner Exit
Linklaters has been dealt another blow to its London operations with the departure of corporate partner Sarah Flaherty.
Law Firm Clyde & Co Adds HSF Aviation Finance Head In London
Clyde & Co has hired Herbert Smith Freehills’ London head of aviation finance as partner moves in the city continue in 2023.
DWF recruits Dentons’ UK real estate head
Dentons’ UK real estate head is leaving the firm after five years to join DWF in a new leadership role.
Kirkland funds partner leaves for Goodwin
Goodwin Procter has snapped up a private equity and investment funds partner from Kirkland & Ellis. Jacqueline Eaves has spent nearly four years as a partner at the US firm, where she focused on advising private investment funds on a range of complex business transactions in the secondary market.
EMEA
Davis Polk secures Allen & Overy partner duo to launch in Brussels
Leading Wall Street firm Davis Polk has hired two partners from Magic Circle UK firm Allen & Overy (A&O) to open a Brussels office.
Paris private equity boutique adds former Brown Rudnick restructuring trio
French private equity boutique Moncey Avocats has added a trio of ex-Brown Rudnick lawyers in Paris to expand its restructuring team.
Three leading Singaporean disputes bodies have banded together to promote Singapore’s attractiveness for dispute resolution, with two new initiatives encouraging an integrated approach for businesses seeking to resolve their disputes in one of Asia’s most popular dispute hubs.
Ropes makes first hire for fledgling Dublin office
Law firms are continuing to expand with offices in the Republic of Ireland, as Ropes & Gray hires from the country’s competition regulator to launch its operations.
APAC
Linklaters adds senior financial regulation partner in Singapore from Ashurst
Linklaters has added a senior partner to its financial regulation and structured finance practice in Singapore from Ashurst.
Baker McKenzie has bolstered its transactional offering in Johannesburg with a trio of partner hires from local rivals.
The Americas
Pallas Partners grows in New York with partner hire from Gibson Dunn
London-based litigation boutique Pallas Partners has grown in New York with the hire of a commercial litigation partner from Gibson Dunn & Crutcher along with two associates from other firms.
Freshfields New York Managing Partner Exits For King & Spalding
Freshfields Bruckhaus Deringer’s New York managing partner has left the firm for a U.S. led outfit.
7 Dentons Shareholders Split to Launch Private Equity Practice at K&L Gates’ Pittsburgh Office
Leaders at K&L Gates said they expect the team of seven new partners to have an “immediate” impact on boosting the firm’s business, given the quantity of client work they are bringing over.
In-House
London Metal Exchange GC Steps Down To Pursue Own Venture
The London Metal Exchange’s (LME) long-time legal chief has stepped down after seventeen years at the company. Tom Hine, who joined the LME in 2006, announced via LinkedIn on Tuesday that he was leaving the metal trading platform to set up his own consultancy venture.
Promotions & Appointments:
Lewis Silkin, Fox Williams and TLT among firms changing up London management
Several law firms in London have rung in the new year with changes to their top management. U.K. top 50 firm Lewis Silkin has ushered in new co-managing partners, with intellectual property partner Jo Farmer and employment partner Richard Miskella set to head the firm until 2026.
Norton Rose EMEA Managing Partner Handed Second Term
Norton Rose Fulbright has reappointed its managing partner for Europe, Middle East and Asia to a second three-year term.
Mergers & Alliances:
Shearman’s Merger Talks Have Also Included Baker Botts
Shearman & Sterling has spoken with multiple law firms for a potential merger, including Texas-based Baker Botts, according to two sources familiar with the talks.
Orrick to Merge With AmLaw 200 Outfit to Create $1.5B Firm
Orrick Herrington & Sutcliffe is merging with Washington, D.C.-founded Am Law 200 firm Buckley, adding significant strength to Orrick in financial regulation, enforcement and litigation and doubling its footprint in the nation’s capital.
Addleshaws and Linklaters lead on Diageo acquisition
Addleshaw Goddard and Linklaters have led on the €260m acquisition of a dark rum brand by drinks giant Diageo.
Office Openings & Closing:
When Brexit became final in 2020, there was an abundance of talk about the world’s premier law firms pivoting away from London to European hubs like Frankfurt, Paris and, in particular, Brussels.
Eversheds Sutherland Opens San Francisco Office as ‘International Hub’
About a year after Eversheds Sutherland announced plans to launch in San Francisco, the global firm has opened an office, which will act as a hub for both local and international lawyers. It is also Eversheds’ first office to experiment with hoteling.
Financials:
As Productivity Drops, Will More Law Firms Move Away From Billable Hour?
Alternative fee arrangements and pricing outside the billable hour is getting more attention this year. A pandemic surge in demand followed by an historic drop in productivity have set the stage in 2023 for a shift toward pricing that emphasizes value instead of time, some analysts say.
Simpson Thacher Enjoys Another Year Of Growth At London Office
Simpson Thacher & Bartlett’s London office revenue grew more than 13% in 2022, hitting $378 million, marking another year of expansion for the U.S. firm’s U.K. base.
Clifford Chance’s Highest Paid Partner Took Home Almost £5M Last Year
Clifford Chance’s highest paid partner took home £4.94 million in the 2021-22 financial year, the law firm’s latest limited liability partnership accounts show. The figure is 35% higher than the £3.21 million taken home by the top paid member in the previous financial year.
Revealed: Ince partners hold barely 8 per cent of shares in their listed business
The Ince Group is now majority owned by external shareholders, with just 8.1 per cent of the equity retained by the firm’s partnership, new documents have revealed.
Milbank pay rises after exchange rate tweak
Milbank has become the latest firm to increase its associate pay scale, including salaries for newly-qualified lawyers.
Technology & Innovation:
Legal Tech Predictions For 2023
Legal technology is set to present a range of opportunities and challenges for law firms in the coming year, according to industry experts. The range of legal tech available to lawyers continues to grow in areas such as knowledge management, data storage and improved artificial intelligence. Firms are likely to need to adapt as in-house requirements change.
Diversity & Inclusion:
BCLP Launches New Billable Hours Policy Including ‘Vacation Bonus’ Reward
Bryan Cave Leighton Paisner has become the latest firm to shake up its billable hours policy, introducing a scheme the allows its best performers to earn a vacation bonus.
4 Firms Create Black-Owned and Female-Driven Africa Alliance
South African law firm LNP Attorneys has spearheaded the creation of a female driven, 100% black-owned legal network.
Pérez-Llorca Program Focuses on Putting More Women Partners Into Male-Dominated Practice Areas
Among the four new partners at Spanish firm Pérez-Llorca named earlier this month, two are women whose practices focus on the male-dominated area of corporate law.