Moves:
UK & Ireland
London Boutique Launches White-Collar Practice with Another Lateral From HSF
Herbert Smith Freehills partner Dan Hudson has joined disputes boutique Seladore, becoming the latest partner to follow the same route.
EMEA
HSF Announces New Antitrust Leadership
Kyriakos Fountoukakos to serve as managing partner of global competition and trade team.
Signature Litigation builds in Paris with three-lawyer team
Jérémie Fierville folds boutique into UK disptues firm as it seeks ‘sustained growth’
APAC
Herbert Smith Freehills Singapore ally launches local disputes practice with Morgan Lewis team
Leading litigator Daniel Chia joins Prolegis with three-lawyer team to head new practice.
India’s Trilegal secures eight-strong M&A team from rival Shardul Amarchand Mangaldas
Team is led by Amit Khansaheb, who assembled group while at BMR Legal before moving to Shardul in 2017.
Watson Farley & Williams hires White & Case asset finance team for Tokyo debut
UK firm follows up Seoul launch in February with new office focused on aviation and maritime finance work.
The Americas
These Attorneys Left Big Law to Chase ‘Ocean’ of Mid-Market Activity, and It’s Paying Off
As a new generation of lawyers shifts its thinking around career goals, more than a few attorneys have left their Big Law jobs behind to tap into the middle market. Now, two new firms created out of this impulse share one problem: There’s more demand than either can swallow.
New Hires, Promotions and Awards from Across the California Legal Market.
An overview of the promotions and hires from across the Californian market including that of McManis Faulkner’s managing partner Elizabeth Pipkin and Dana Kennedy joining Miller Starr Regalia.
Goodwin Lands Orrick Real Estate Partner Dustin Calkins, in San Francisco
Dustin Calkins is the firm’s third partner hire in the Golden State this year. Goodwin Procter has hired Orrick Herrington & Sutcliffe real estate partner Dustin Calkins in San Francisco, the firm announced Thursday.
Hogan Lovells Builds San Francisco Bench with Arnold & Porter Litigator
Hogan Lovells on Thursday hired consumer products litigator Trenton Norris in Northern California.
Latham Partner Advising Hunter Biden Leaves for NY Litigation Boutique
Chris Clark, who represents Hunter Biden in a federal tax investigation, is joining white-collar litigation boutique Clark Smith Villazor.
Push to Promote Lawyers to Partner Continues at Big Firms in Texas
A total of 22 of the 25 firms with the most lawyers in Texas promoted 6.4% more partners in Texas in 2022 than in 2021, continuing a trend from the prior year.
Eighth Ex-Dentons Attorney Joins K&L Gates in Pittsburgh
Scott Graham joins seven former colleagues who jumped from Dentons Cohen & Grigsby corporate and private equity practices in January.
McCarter & English Elects 7 New Partners
McCarter & English recently announced the election of seven new partners, including Travis Ferguson, a business litigation lawyer, who works out of both the firm’s Wilmington and Newark, New Jersey, offices.
Eckert Seamans Cherin & Mellott has welcomed Elaine M. Ross
She joins the firm’s Philadelphia office from Rawle & Henderson, where she was a partner, and brings with her over 25 years of litigation experience.
Gunster Hires 2 Former Florida Officials as Lobbyists Set to Work on Key State Issues
Simone Marstiller and Trey Price are joining the corporate law firm after serving in state-level government roles, where they both worked closely with other state officials.
In-House
How Will 6 New Alibaba GCs Shake Up the Legal Landscape in Asia?
The six new general counsel expected to oversee the six separate companies that will result from the breakup of Alibaba announced last month are expected to create a shakeup in the legal market in Asia, lawyers say.
Former Chime, Capital One Counsel Snags GC Job at Fintech Startup
Method Financial, a fintech startup backed by Y Combinator and Andreessen Horowitz, has hired former Capital One assistant general counsel Phil Chang as its first legal chief.
Bausch + Lomb Replaces Legal Chief Weeks After CEO Change
Bob Bailey is retaking the legal reins of the eye care giant after a decade away. He’ll work under recently hired CEO Brent Saunders, whom he formerly worked for at three companies.
Amid Unionization Pressures, Starbucks Goes Outside to Hire Legal Chief
The Seattle-based coffee giant’s new CEO is handing the legal reins to a former Medtronic, Fannie Mae and Pfizer legal executive Brad Lerman. The company has operated with an acting GC for the past year.
Rackspace Replaces Legal Chief Who Quit After Company Cut Her Duties
The cloud computing company handed the legal reins to Michael Bross, who has deep leadership experience, including a decadelong stint as general counsel of a business Rackspace acquired.
Promotions & Appointments:
Partners Elevated at Flood Law Firm and Madsen Prestley & Parenteau
Claire Howard and Daren Altieri have been promoted at their respective firms. Madsen Prestley & Parenteau recently promoted Claire M. Howard to partner. Howard represents individual employees in a range of employment disputes including whistle blower, discrimination and contractual disputes.
Office Openings & Closing:
Michelman & Robinson Charts Growth in New York With 10-Year Office Lease
The Los Angeles-founded firm has strengthened its bicoastal footprint with a bigger office space in New York, where it expects to soon hit the 25-attorney mark.
UK firm to lease 2,500 sq metres of historic tower from 2025 following eco-friendly refurbishment.
Rajah & Tann litigation partners exit to launch Singapore boutique
Danny Ong and Wern-Jhien Yam leave Singapore Big Four firm to open shop focused on dispute resolution, financial crime and insolvency.
Greenberg Traurig eyes Asia renewables boom as firm opens in Singapore
Singapore launch follows Riyadh opening last month; firm also mulls expansion in Dubai, Brazil
Financials:
RPL Ticks Up at Hunton Andrews Kurth in 2022, But Profits Fall Following Record 2021
Revenue slipped by 3.1% at Hunton Andrews Kurth, but the firm’s lawyer head count also declined by 4.9% in 2022. Net income, meanwhile, dropped by more than 17%.
Sidley Grew Revenue 4% and PEP 12% Amid Shifts in Partner Ranks
The contraction in the equity tier and the growth of the nonequity ranks are not a result of de-equitizing partners, but a consequence of significant lateral hiring and its largest-ever partner class, the firm said.
Even with Profitability ‘Squeeze,’ Perkins Coie Sees Modest Revenue Growth
Perkins Coie’s gross revenue grew slightly to $1.16 billion last year, while profits per equity partner fell 8.5% to $1.52 million.
Schulte Rides Private Capital Work to 8% Revenue Growth as PEP Takes Slight Dip
The firm’s two largest practices, investment management and litigation, were up 17% and 25%, respectively, Schulte said.
Am Law 100 Firms Reconsider the ‘Givens’ in Their Expense Budgets
Two years ago, law firms realized skyrocketing profits because they had no choice but to work remotely. Today, the cost-benefit analysis of spending on travel and in-person meetings is a matter of their own volition.
Why U.S. and U.K. Firms Capture More Profit
A look into the theory on the financial benefit of common law legal systems.
After Two ‘Boom Years,’ White & Case Sees Drop in Revenue and Profits
Profits per equity partner sank 20.2% to $2.8 million, but firm chair Hugh Verrier said he anticipates a “big bounce-back year.”
Revenue Up at Most Homegrown Texas Firms in 2022, but Profit Growth Lagged
A number of the firms brought in a record amount of revenue in 2022, compared with 2021.
Winston Kept Revenue Above $1B Threshold, While PEP Rose Amid Some Partner Exits
Litigation work buoyed the firm in 2022, led by representations of Boeing, Monsanto and Abbott Laboratories in high-profile products liability matters.
Baker Donelson Sees Record Year Amid Hikes in Demand and Billing Rates
Even after a rate hike, the firm said its billing rates were still desirable because of how they compare across its office markets.
The news follows successive delays in the firm’s financial reporting.
Top Spanish firm Cuatrecasas sees revenue grow 4.7% to hit new record
Firm’s revenue rises to €352.66m for the 2022 fiscal year as Latin American and Portuguese business grows.
Technology & Innovation:
ChatGPT & Generative AI: Everything You Need to Know
Corporate legal departments are increasingly receiving requests from business clients to use ChatGPT or similar AI-powered tools in their operations. These requests can be urgent, with business clients demanding enablement from legal. This article is in two parts: Part One briefly details what “generative AI” tools like ChatGPT are and provides an overview of key legal considerations, including by looking forward to upcoming AI-specific legislation in the EU and the U.S.
Chatbots Can Raise Unique Labour and Employment Law Risks
While few areas of the country have passed laws directly regulating artificial intelligence applications to date, introducing a human resources chatbot to your workplace still carries potential risk of violating any number of established labour and employment laws.
An Insurer Sent Law Firms a ChatGPT Warning. It Likely Won’t Be the Last
A legal insurance provider warned policyholders of the legal and cybersecurity risks of using ChatGPT. Given the chatbot’s rapid adoption, more scrutiny of the generative AI tool from insurers is likely to follow.
Proskauer Data Breach Underscores Hazards of Transitioning to the Cloud
Proskauer Rose is investigating a data breach after large tranches of sensitive client information were found to be publicly accessible from its cloud-based site, highlighting the vulnerabilities that can exist when organizations transition their internal data to the cloud.
Supercomputers Soon Will Crack Encryption. Is Your Company Ready?
“With this level of breach that can and will happen, you can’t afford to take a wait-and-see approach if you are managing sensitive data,” said Rebecca Krauthamer, co-founder of quantum cybersecurity software firm QuSecure.
Report Predicts $8 Trillion in Losses From Cyber Threats This Year
“Phishing has evolved past the Nigerian prince who wants to give you an inheritance you have never heard of, to somebody that you work with in accounting sending you what looks like a legitimate email saying, ‘There has been a last-minute change on the deal, and we need to change the wire transfer numbers,'” said Edward McNicholas, a Ropes & Gray partner.
DLA Piper Global Tech Co-Chair Says General Counsel Need Help With AI
Interest in the way in which technology can be used — and abused — in the practice of law has surged since the launch of ChatGPT.
3 Ways AI Digitization Helps Offload Manual Demand at Law Firms
Although it’s the high-profile attempts to replace human lawyers that have made their way to newsrooms, there’s plenty of industry-disrupting overhaul going on behind the scenes.
Diversity & Inclusion:
Morris Manning Expands on Efforts With South’s First LGBTQ Business Practice
The Atlanta-based firm’s new venture, which launched Monday, will “offer culturally conscious legal services to LGBTQ businesses and Fortune 500 companies,” according to a news release.
ABA Awards 5 Highly Accomplished Women Lawyers for Professional Excellence
The American Bar Association has announced the recipients of the 2023 Margaret Margaret Brent Women Lawyers of Achievement Award including a Hawaii Supreme Court justice, a New York University law professor, and Sidley Austin’s management committee chair.
Freshfields Beats Gender Target for Third Year in a Row in Latest Partner Promotion Round
Magic circle firm elevates 30 to partner – three more than in 2022 – with women accounting for 53% of promotions.
Market Commentary:
What Does It Take to Get Lawyers Back in the Office?
The legal industry personnel would come back to the office at least one more day per week if their firm provided their “ideal” mix of work experiences, a survey suggests.
The U.S.-U.K. Rivalry in Asia: Turns Out No One Has Asia Down Pat
In Asia, U.S. law firms have toppled the old British guard. This has been true for the last two years, at least. American firms have pushed and shoved their way to the top, now dominating the top 25 legal adviser league tables for acting on the largest and highest collective value mergers and acquisitions involving Asian corporates.
In Response to Layoff Chatter, Ropes & Gray Cites ‘Merits-Based Evaluation Process’
Ropes said a performance management process is part of its “normal course.” Industry observers say “aggressive” performance reviews this year are resulting in an increasingly blurry line between layoffs and review-time cuts.
Why Legal Department Generational Shifts Are Tying GCs in Knots
“There’s so much insecurity rooted in establishing a paradigm where he who works the most is the most valuable,” said Foster Sayers, general counsel of Pramata.
The Ever-Changing Minefield of Employment Law in New York
New York state and New York City labor and employment laws are a shifting minefield. Laws may change so swiftly that an employer who is in compliance at one time may find itself quickly out of compliance once New York State or New York City passes a new law. Employers must keep up or face potential peril.
‘Law Firms Are Really Expensive’: How In-House Leaders Ensure They Get Their Money’s Worth
“There are some lawyers that have been practicing for a number of years or with the firm a number of years that don’t have the experience or knowledge,” said Stephen Kim, chief legal officer of Avicanna.
Linklaters ‘Redesigns’ Low-Cost Arm and Commits to Remote Working Model
Limitless by Linklaters will offer alternative legal services without need for regional hub, firm says.
Moves:
UK & Ireland
Herbert Smith Freehills Builds in Real Estate with Ashurst Practice Head
Herbert Smith Freehills has added to its London real estate practice with the hire of partner Matthew Bool, who will join the firm’s non-contentious construction team.
Withers Swoops For Fieldfisher Real Estate Partner
Law firm Withers has strengthened its London real estate offering with the hire of a Fieldfisher partner. Real estate disputes partner Owen Talfan Davies, who has been at Fieldfisher for almost a decade according to reports, is joining Withers, according to an announcement from the firm.
EMEA
Pinsent Masons Hits Bird & Bird for 8-Strong Madrid Energy Team
Pinsent Masons has brought on a team of eight lawyers from rival Bird & Bird to bolster its energy practice in Madrid.
APAC
NRF Australian Life Sciences Head and Team Defect
Partner Toby Biddle leaves after 13 years with Norton Rose Fulbright, taking a team of five.
Sullivan & Cromwell Is a Quiet Force in Australia
The firm recently brought in a partner from London who specializes in private equity markets — a strategic move as more capital is being raised today through private equity and private credit funds than in public markets.
Morrison & Foerster Adds Private Equity Partner in China From Kirkland & Ellis
Zhao is the third private equity partner to join Morrison & Foerster in Asia this quarter, following the additions of Steven Tran and Tabitha Saw in Singapore.
Norton Rose Fulbright Hires Australian M&A Lawyer From PwC
Tuanh Nguyen also advises on diversity and inclusion.
K&L Gates Appoints New South Korea Managing Partner
Tyler Hong-Shik Won, a partner in the intellectual property, international trade and antitrust practice groups, succeeds M&A partner Eric Yoon, who has served as the South Korea office head since the firm opened its office in Seoul in 2012.
The Americas
Goodwin Chair Robert Insolia Stepping Down
Anthony McCusker takes over at a time of transition.
In Competitive Hiring Market, Baker Botts Hires First-Ever Chief Recruiting Officer
Baker Botts has expanded its C-suite ranks by hiring a veteran recruiter, Dani Barnard, as its first-ever chief recruiting officer amid a highly competitive market for laterals in private equity, litigation, antitrust, energy and technology.
Barnes & Thornburg Hires Wilmington Partner
Barnes & Thornburg announced that it has added Wali W. Rushdan II as a partner in the firm’s Wilmington office.
‘Come as You Are’: Orrick Attracts 3 Women Partners to Counsel Tech Clients
Relativity Space GC Laura Lariu joined the firm on Monday, following the arrival of former MasterClass associate GC Nikita Shah and Fenwick & West corporate lawyer Alexandra Wood.
In-House
IHeartMedia Hires Amazon Dealmaker to Be Chief Entertainment Counsel
Jon Kurland—who once said, “Audio is film in 1910″—will help the company continue to expand its reach beyond its massive collection of radio stations.
Legal Chief Departs Beer Giant Molson Coors
Anne-Marie D’Angelo will work with the company on a consulting basis as it searches for her successor.
Promotions & Appointments:
Skadden Ups Partner Promotions to 24, But Gender Split Drops
Outside of the U.S., the firm’s London and Beijing office will gain new partners.
Pinsent Masons Promotes 25 to Partner
Of the 25 promotions this year, 14 are in the U.K., six are across the EMEA region, while five lawyers have been promoted in Asia Pacific.
Mccarter & English Announced the Election Of Seven New Partners
McCarter & English announced the election of seven new partners, including Alison Morrissey in the firm’s Philadelphia office.
Mergers & Alliances:
Wachtell, Goodwin Lead Q1 League Tables as Global M&A Tumbles 44%
Two law firms that were in the top five last year saw drops out of the top 10 in early 2023.
Sullivan Cromwell, Freshfields Top M&A Rankings Amid Market Slump
Top M&A partners explain the downturn, and how firms can protect against continued market turmoil.
Office Openings & Closing:
Dentons Picks Next London Home Amid Race for Top Real Estate
The law firm is heading towards Liverpool Street for its next London home.
Financials:
In ‘Year of Investment,’ Akin Gump’s Revenue Up, but Profits Per Partner Drop 16%
Internationally, the firm closed its Moscow and Frankfurt offices in 2022. And while London revenue was down, Akin’s Middle East offices put in a “very strong performance,” said firm chair Kim Koopersmith. Akin also anticipates that conflicts with Russia and China will fuel trade and sanctions work in the year ahead, and global transactions, private equity and energy transition work are already on the rise.
Gaining Market Share, Paul Hastings Grows 6% in Revenue
The firm’s average PEP rose 4%, surpassing those of several elite New York law firms. The Hong Kong office has had a strong year, despite the capital markets, firm chair Frank Lopez said.
Strong Deals Led Atlanta’s Troutman Pepper to Another Year of Revenue Gains
Troutman saw a 2.8% increase in net income spread across an equity partner pool that shrunk 8.5%, allowing profits per equity partner to soar 12.4% to $1.55 million, as the firm de-equitized some of its partnership.
Fenwick, With New Client Capabilities, Grew Revenue Nearly 4% as Profits Inched Down
Revenue grew to $750.4 million, thanks to new regulatory capabilities and intellectual property growth, while profits fell 1.4% at Fenwick in 2022.
Technology & Innovation:
Ahead of the Curve: What Happens When ChatGPT Gets It Wrong?
This week, we’re exploring one law dean’s experiment with using ChatGPT to obtain biographical information.
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.
Market Commentary:
Elite UK Firms Play Catch Up Following Years Of US Hiring Dominance, Research Finds
An analysis of London partner hires in 2022 has found top UK firms are bouncing back, but they have a long way to go to make up for the losses of the last few years.
The End of Kirkland’s Meteoric Rise?
It’ll take a sea change to knock Kirkland off the top spot. One may be on the horizon, argues The Global Lawyer.
The slide by a Paul Hastings associate demonstrates how tone, culture and expectations can be set throughout the law firm—not just by those sitting in the executive ranks.
Elite UK Firms Play Catch Up Following Years Of US Hiring Dominance, Research Finds
An analysis of London partner hires in 2022 has found top UK firms are bouncing back, but they have a long way to go to make up for the losses of the last few years.
Sullivan & Cromwell Is a Quiet Force in Australia
The firm recently brought in a partner from London who specializes in private equity markets — a strategic move as more capital is being raised today through private equity and private credit funds than in public markets.
Kirkland, Building on $6B in Revenue, Grew Almost 8% in Down Market
The firm rapidly grew in lawyer head count, rising 13% last year. Its associate population shot up 14.5%.
Moves:
UK & Ireland
Ashurst expands London disputes coverage with partner hire from Goldman Sachs
Banking litigation and investigations lawyer Philip Linton returns to private practice after 12 years at Goldman
Latham & Watkins secures antitrust partner in London from Linklaters
Leading merger control practitioner Simon Pritchard joins US firm after 10 years at magic circle rival
Sidley Austin makes double partner hire from Weil to bolster London private equity practice
James MacArthur and Ed Freeman bring vast deal experience, notably in the energy and infrastructure sectors
Linklaters secures leveraged finance partner in London from Shearman & Sterling
International departures from Shearman mount as Rahul Chatterji heads to magic circle rival
APAC
Herbert Smith Freehills Singapore ally launches local disputes practice with Morgan Lewis team
Leading litigator Daniel Chia joins Prolegis with three-lawyer team to head new practice
Big Law Trio Expand Key Practices with Partner Hires in Korea and Singapore
K&L Gates, Norton Rose Fulbright and Squire Patton Boggs have deepened their practices in South Korea and Singapore with key hires. K&L has strengthened its energy, infrastructure and resources practice in South Korea with the lateral hire of project finance lawyer Sarah Park from White & Case in Seoul, where she was most recently a local partner.
The Americas
Jenner & Block Builds Investigations, Fintech Practice With Former Federal Prosecutor
Jenner & Block is expanding its investigations and fintech practices with the addition of former federal prosecutor Laurel Loomis Rimon as a partner at the Washington, D.C., office.
Connell Foley Adds Four Attorneys, Including Two Partners, to Real Estate Practice in Newark
The new team members enhance a well-established Connell Foley real estate practice in Newark, New Jersey, and the Northeast. Professionals in Newark provide transactional and litigation services and solutions-oriented advocacy to companies and now hold an even stronger presence with 22 attorneys in the Newark office.
Mapes works with private equity real estate investors and energy and industrial businesses, among others. In addition to guiding his clients on the environmental aspects of real estate transactions and on regulatory compliance issues, he guides businesses through all stages of complex environmental litigation filed in state and federal courts and in appeals before administrative agencies.
Norton Rose Fulbright Hires Baker Botts Corporate Partner
Corporate partner Yan Zhang was drawn to Norton Rose’s global platform for clients, as their needs become more international in nature.
Shipman & Goodwin Announces High-Profile Hires
Shipman & Goodwin has announced two high-profile hires in the firm’s litigation and environmental law practices. Eric Del Pozo, former assistant solicitor general for the New York state attorney general’s office has joined the firm as a partner in Shipman’s litigation and appellate practices, and former clerk to the Connecticut Supreme Court, Sarah Kettenmann, has joined as an environmental law associate.
Holland & Knight Recruits Partners From K&L Gates to Build Tech Policy Team
As lawmakers on Capitol Hill continue to eye tech regulation, Holland & Knight is adding a three-person policy and regulatory team, including two technology-focused partners, from K&L Gates in Washington, D.C. The team includes lawyers Daniel Ritter and Paul Stimers and Dennis Potter, a senior policy adviser.
Wilmer Hires Allen & Overy Securities Litigator in New York
Andrew Rhys Davies is the third government lawyer to join Wilmer’s New York securities litigation practice in the past year.
Gibson Dunn Hires 2 Lawyers from Paul Hastings, Expanding Fintech and Reg Practices
Gibson, Dunn & Crutcher has brought on two attorneys from Paul Hastings who will join as partners in its fintech and financial institutions practices, as the firm continues scaling up its regulatory groups. The lawyers, Sara Weed and Jason Cabral, join as partners in Washington, D.C., and New York, respectively.
Arnold & Porter Adds Senior Lawyer From NY Fed
James Bergin, former acting co-general counsel and deputy general counsel at the Federal Reserve Bank of New York, joined Arnold & Porter Kaye Scholer as a partner in New York.
NYC’s Morrison Cohen Expands Its Connection to Miami With New Hire
New York-based Morrison Cohen scooped up a white-collar litigation duo from Armstrong Teasdale in New York, adding strength in the practice and tapping into one of the lawyers’ Florida connections. Partners Eric Creizman and Melissa Madrigal are joining the New York mid-sized firm after over three years at Armstrong.
In-House
Ex-WeWork CLO Moves to Fintech Unicorn DailyPay
A month after stepping down as WeWork’s chief legal officer, Jared DeMatteis has joined payroll services star DailyPay as its first chief legal officer and strategy officer.
Around the house: Former WeWork CLO joins US fintech DailyPay, Levi Strauss replaces veteran CLO
This week’s roundup of top in-house hires includes the appointment of former WeWork chief legal officer Jared Matteis by DailyPay to head up its legal and strategy team.
Suntory Beverages Hires New UK GC Amid Reshuffle
Lucozade and Ribena manufacturer Suntory Beverage and Food GB&I has brought in a new U.K. general counsel, amid a spate of senior in-house moves. Ewa Chappell takes on the role of general counsel at the Japanese company’s Great Britain and Ireland branch, following predecessor Mary Guest’s promotion to deputy legal director for Suntory Suntory Beverage and Food Europe. Chappell will report to Guest.
Promotions & Appointments:
Linklaters Promotes 41 to Global Partnership
The firm has matched last year’s overall figure, and has equalled its 2022 record of number of women elevated to partner.
Reed Smith Appoints New Asia Pacific Head
Praj Samant, a partner and global chair of Reed Smith’s energy and natural resources group, has been appointed as the firm’s Asia Pacific managing partner.
Law firm Herbert Smith Appoints Joint Managing Partner for Global Disputes
The appointment succeeds current dispute resolution managing partner Damien Byrne Hill, who is set to return to full-time practice, according to the firm.
Investment Managers M&G Appoint New Legal Chief
London-based investment manager group M&G has appointed the former legal chief of insurance group RSA as its next general counsel and company secretary. Charlotte Heiss joins from The Very Group, the multi-brand online retailer behind very.com and Littlewoods, where she has been group GC and company secretary since May last year. The Very Group did not reply to requests for comment at the time of publication.
Bird & Bird Chair Reappointed For Second Term
Bird & Bird has reappointed its former international technology and communications head, Graeme Maguire, as chair of the firm’s board. Maguire was first appointed as Bird & Bird’s chair at the start of the pandemic in 2020. His reappointment is effective from April 1.
Mergers & Alliances:
Shakespeare Martineau Adds Consultancy Business In Latest Expansion
U.K. top 50 law firm Shakespeare Martineau has expanded its company secretarial expertise with the addition of a business consultancy business. The outfit has added London based Bruce Wallace Associates, which comprises a team of five, including co-founders and directors Susan Wallace and Martha Bruce.
Norton Rose Strengthens Saudi Offering with Local Law Firm
Norton Rose Fulbright has become the latest international law firm to augment its Saudi Arabia presence, as the government strips away local market entry restrictions on foreign firms. The firm is forming an association with the Company of Mohammed A. Altammami for Legal Services (LOMAT).
Office Openings & Closing:
Morgan Lewis Takes Entire Shearman Office in Munich, Including Personnel and Real Estate
Morgan, Lewis & Bockius’s new Munich office, which opened its doors Monday, doesn’t just include 19 lawyers from Shearman & Sterling. It also includes the ailing firm’s lease and office personnel.
Linklaters Break Into Riyadh as Squire Forms Local Alliance
Linklaters and Squire Patton Boggs have become the latest firms to augment their positions in Riyadh following the liberalisation of the Saudi legal market. After being granted a licence by the Saudi Ministry of Justice to practise law, Linklaters will establish a new Riyadh office, the firm said in a statement. The new office will be the firm’s third in the Middle East, after Dubai and Abu Dhabi.
Law firm Herbert Smith Freehills’ Singapore alliance adds 4 from Morgan Lewis
Herbert Smith Freehills’ Singapore alliance firm Prolegis has launched a disputes practice in the country with the hire of four lawyers from Morgan Lewis, including its head of Asia disputes. Daniel Chia will join Prolegis as a director and head of litigation in early April, according to a statement from Prolegis and HSF.
Financials:
Mergers Help Smith Gambrell Grow Revenue by Record 15.5%
“I think it was a very good year, our best financially speaking. We’re very fortunate that our clients remained resilient in the face of economic headwinds,” Stephen Forte, Smith Gambrell’s managing partner and executive committee chair, said.
Foley & Lardner in a ‘Position of Strength,’ as Revenue, Profits Improve in 2022
With a focus on strategic industry sectors of energy, manufacturing, life sciences and health care, and innovative technology, Foley & Lardner grew in 2022 and improved its revenue by 5.4%.
Kilpatrick Townsend Grew Revenue 2.6% as It Focused on Mid-Market and Tech
“Overall, we felt 2022 turned out pretty well and that we are well positioned for the future,” said Kilpatrick’s chair and CEO Henry Walker.
‘Body Blows but Nothing Fatal’: With Cap Markets and M&A Down, Cahill Drops 19.5% in Revenue
After explosive growth due to strong transactional and capital markets work in 2021, the flip side of that equation was some significant drops in most key financial metrics.
Technology & Innovation:
Legal Industry Reacts to Goldman Sachs Generative AI Report: Keep Calm and Panic
Few challenged the Goldman Sachs report stating that 44% of legal tasks would be replaced by generative AI. But many had distinct theories about what that would mean for the industry.
Generative AI Could Automate Almost Half of All Legal Tasks, Goldman Sachs Estimates
A Goldman Sachs report found that, while generative AI will be more of a supplementary force for many jobs, its impact on legal could be more disruptive than in other industries, with many legal jobs at risk of automation.
How the Law Can Keep Up With Fast-Moving Advances in Technology
Big Tech and social networks of every stripe continue to wield growing influence over the information that we consume, how we interact online, and the practices of data collection and sharing at every turn. Naturally, one has to wonder: What changes are needed to global and national legal or regulatory systems to adapt to a world where the pace of industrial progress now moves at the speed of silicon?
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.
I Robot: the rise of AI, machine learning and ChatGPT in legal
3Kites’ Paul Longhurst and Kemp IT Law’s Richard Kemp discuss the potential for AI in the legal profession and how the technology is likely to impact law firms
How legal technology can enhance the delivery of a public inquiry
From livestreaming to bringing key stakeholders together, Taryn Auchecorne and Roopal Patel of Opus 2 consider how judicious use of tech can make a public inquiry more efficient and transparent
Diversity & Inclusion:
Eckert Seamans Forms ‘Inclusion Council’ to Direct Diversity in Recruiting, Better Retention
The newly minted Inclusion Council has already created a language guide to educate employees on the implications of the language they use even in ordinary conversation and how certain terms or phrases might impact co-workers.
Anusia Gillespie, SVP Enterprise Solutions at UnitedLex, discusses educating clients on current options and resources for modernizing the legal function, how DEI is the core mission of modernization, and why it’s critical to take a data-driven approach to non-billable activities.
Linklaters meets gender diversity target for third consecutive year in latest promotion round
Magic circle firm elevates 41 to its partnership, with 17 women making the cut – just above its 40% goal.
Freshfields Reveals First Socio-Economic Pay Gap Data As Other Gaps Grow
The firm has reported a mixed set of results for its people and revealed how its peoples’ socio-economic backgrounds have impacted their remuneration.
Market Commentary:
Am Law 200 Firm Leaders Aren’t Sweating Double-Digit Profit Drops. Here’s Why
For some, the dip was a necessary consequence of spending more on travel for much-delayed in-person meetings. For others, 2022 was the right time to invest in growth aimed at generating long-term rewards.
Allen & Overy’s Next US Leaders Seek Broader Profile in Corporate America
Allen & Overy’s U.S. chair will pass the leadership reins in May to a pair of partners who aim to deepen the firm’s relationships with deal-seeking corporate clients. The newly christened U.S. co-chairs said they would like to broaden the firm’s image in corporate America from a banking and finance-focused firm to a trusted M&A advisor.
Moves:
UK & Ireland
Cleary Strikes Linklaters Again for Another London Partner
Cleary Gottlieb Steen & Hamilton is continuing to build out its London office, adding another partner from Linklaters amid a slew of major hires. The U.S.-led firm has hired Linklaters’ financial sponsor leveraged finance practice Edward Aldred as its latest big-name addition to its office in the city.
Law firm Latham & Watkins hit by another London partner departure
Latham & Watkins has been hit by the departure of another partner in its London office—its second within the same week. Brendan Moylan, who acts for infrastructure funds and investors on M&A transactions across a range of assets, is set to join Weil Gotshal & Manges after almost five years at Latham. Prior to joining Latham, he was at Clifford Chance for 20 years.
Linklaters Rebuilds in London with Latham Partner Hire
Linklaters has taken steps to rebuild its London corporate team with the hire of a partner from Latham & Watkins. John Guccione leaves the U.S. firm after two and a half years. He was a member of Latham’s private equity practice as well as its energy & infrastructure group.
Travers Hit By Latest Blow As Funds Head Quits
Travers Smith has suffered yet another partner departure, following the loss of its investment funds head to U.S.-headquartered firm Dechert. Sam Kay, a Travers lifer, is leaving the firm after over 25 years.
Kirkland Secures Latest London Hire With DLA Piper’s ESG Lead
Kirkland & Ellis’s London office has hired DLA Piper’s head of international sustainability and ESG. Rhys Davies, a DLA Piper lifer, joins after over 16 years at the firm where he made partner in 2017.
Dechert Finance Partner Departs for Cadwalader
Dechert London finance partner Smridhi Gulati is joining Cadwalader, Wickersham & Taft. In her new role, Gulati is set to join Cadwalader’s transatlantic finance practice, advising across domestic and international leveraged and acquisition finance transactions, according to a person with knowledge of the matter.
Latham & Watkins Loses Second London Partner in Span of a Week
The partner, previously a Clifford Chance lifer, has moved to Weil Gotshal & Manges.
EMEA
Pinsent Masons Plucks Real Estate Partner From Norton Rose in Dubai
Pinsent Masons has lured a real estate partner from Norton Rose Fulbright in Dubai. Louisa Lynch advises developers, lenders and investors on all aspects of real estate and hospitality, the firm said in a statement.
The Americas
Paul Hastings Lands Two Shearman Lawyers in Capital Markets:
Grissel Mercado also brings expertise in Latin America as the firm sees opportunities south of the border.
Wilson Sonsini Adds Wilmington Partner
Wilson Sonsini Goodrich & Rosati announced that Erin Fay has joined the firm as a corporate partner in the Wilmington office, where she will be a member of the restructuring practice.
Goodwin and White & Case Recruit Partner Groups of IP Litigators
Big Law is luring IP litigators from rivals this spring, with Goodwin taking a three-partner team from White & Case, which itself added 10 lawyers from Paul Hastings.
Potter Anderson Hires Corporate Litigation Counsel and Associate
Potter Anderson & Corroon has announced two new lateral hires in its corporate litigation group: Lilianna Anh P. Townsend and Emily Marco.
Sidley, With an Eye on the Middle East, Adds Deal Lawyer From White & Case
Ali Shaikley, a new Sidley M&A partner in New York, pointed to the growth of private equity in the Middle East and India as helping fuel his practice.
McDermott Lands Corporate Attorneys From Gibson, Pillsbury in West Coast Build-Out
Shaalu Mehra and Matthew King join the firm as it looks to grow its emerging companies and IP transactions practice in California.
Greenberg Traurig Gains Gibbons White-Collar Leader
Kevin Walsh, a former federal prosecutor and special counsel at Seton Hall University, wants to extend his practice beyond New Jersey.
In-House
Shell Appoints New Legal Head as Longtime Leader Donny Ching Steps Down
Energy giant Shell has announced a successor following the stepping down of its longtime legal director. Philippa Bounds has been appointed the FTSE 100 company’s new legal director, and will take over the role in July 1 2023, once current legal director Donny Ching steps down after 33 years at the company.
Vape-Maker AVD Adds General Counsel With Deep Regulatory Experience
“We’re at a critical juncture, and now is the time for AVD and other leaders in the space to lead the way on developing safety and quality standards that will be reflected in future regulations,” said Douglas Fischer, general counsel of AVD.
U-Haul Names Successor to Retiring Legal Chief
Outgoing GC Larry De Respino called his replacement “a tenacious advocate for the company and U-Haul customers.”
Levi Strauss Taps Deputy GC to Fill Legal Chief Role
Company CEO Chip Bergh said incoming legal chief David Jedrzejek “will continue to be an invaluable counselor and advocate in his role as general counsel, championing our commitment to profits through principles while ensuring compliance and good governance.”
Promotions & Appointments:
U.K. top 50 law firm Taylor Wessing adds former Addleshaw Goddard London head
Taylor Wessing has hired Addleshaw Goddard’s former London office head to its real estate group. Leona Ahmed had been a partner at Addleshaw Goddard for over 15 years, having joined in 2007. In 2020, she was appointed the head of the firm’s London office, and she was previously co-head of the firm’s real estate group.
U.K. law firm Mishcon de Reya promotes 8 to partner in reduced round
Mishcon de Reya has promoted eight of its lawyers to partner—fewer than half the number made up the previous year. The law firm has promoted a single lawyer, Singapore-based Hong Chong Yi, to equity partner—as well as seven lawyers to junior equity partners.
Slaughter and May Promotes Ten to Partner
Slaughter and May has promoted ten lawyers to partner, the firm announced on Wednesday. This year, women make up 40% of the set, while 30% of the new partners are from ethnic minority backgrounds.
Herrick, Feinstein Names First Female Executive Chair
Real estate department chair Belinda Schwartz is succeeding Irwin Kishner, who has served in the role since 2010.
The New Jersey Attorney General’s Office announced that Cooper Levenson partner Yolanda Melville will replace Bryn Whittle as senior counsel and director of community engagement, a position tasked with connecting community stakeholders with the office’s initiatives.
On the Move and After Hours: Pashman Stein; Marshall Dennehey; Townsend Tomaio; Capehart Scatchard
New practice leaders for Pashman Stein, new partners for Marshall Dennehey and Townsend Tomaio, and Capehart’s diversity CLE.
Arnold & Porter Adds Corporate & Finance Partner; Meltzer, Lippe Grow Its Trusts & Estates Group
Baker McKenzie has added Kevin Whittam as a partner in the firm’s transactional practice. He joins from Weil, Gotshal & Manges, where he served as counsel.
Office Openings & Closing:
Japanese Law Firms are Rapidly Moving Into Global Markets
In a sign that Japanese law firms have accelerated their push to expand globally, five different firms have launched eight new international offices that span three continents—all since January. The new offices are based in such far-flung locales as Indonesia, Paris and New York and come at a time when market saturation has deepened at home.
Linklaters hires partner from Saudi firm for Riyadh office launch
Linklaters has hired a partner from Saudi Arabian firm Khoshaim & Associates (K&A) to open an office in Riyadh as it becomes the latest international practice to win a licence to set up shop in the Kingdom. Amro Bakhaidar, who specialises in equity capital markets and public M&A transactions, will lead the office alongside two existing Linklaters partners who had previously split their time between Riyadh and Linklaters’ Dubai office.
Mintz Levin adds partners from Torys, Dentons, Wilson Sonsini for Canada debut
Mintz Levin Cohn Ferris Glovsky and Popeo has hired partners from Wilson Sonsini Goodrich & Rosati, Dentons and Torys to debut in Canada with the launch of an office in Toronto.
DiCello Levitt Launches San Diego Office With 5-Partner Group From Robbins Geller
DiCello Levitt pushes its aggressive growth strategy forward by opening a San Diego office with five Robbins Geller securities class action attorneys.
Financials:
Will ‘Deeper Problems’ Emerge? Attorneys Forecast Litigation Against Silicon Valley Bank:
Attorneys expect to see more litigation soon from investors and depositors claiming failures in disclosures, internal controls and corporate governance.
For most international law firms in Japan, outbound M&A has been the mainstay of their corporate practice. But, in 2022, the total deal value of outbound transactions by Japanese companies plunged 57% to $11.6 billion—the lowest level in the previous seven years, according to S&P Global.
In a Year of ‘Precipitous’ Change, Cooley’s Profits Fell Nearly 17% as Revenue Surpassed $2 Billion
In London, revenue ticked up 1% to £77.7 million, after nearly 50% growth in the office in 2021. In Asia, the firm continues to have a strong fund formation practice in China and Hong Kong, as well as an increasingly active practice in Singapore, CEO Joe Conroy said.
Strength in Disputes, Middle-Market M&A Helped Bryan Cave Leighton Paisner Offset Russia Losses
Despite closing out 2022 down on revenue, profitability, equity partners and demand, the leaders of global law firm Bryan Cave Leighton Paisner said they were pleased with the firm’s performance and ability to weather short- and long-term headwinds.
Mayer Brown’s Profits Dipped but Firm Held Onto Revenue Gains
The firm said it wants to continue to build in Asia, where it has a presence in Tokyo, China, Hong Kong and Singapore, pointing out that forecasts show growth in the region this year, while in the U.S. and Europe, forecasts predict flat or minimal gains.
Debevoise’s Revenue Stays Flat As Profits Take A Hit
With an 11.8% decline in PEP, Debevoise’s growing headcount and its move to a new Manhattan headquarters contributed to some of its increased expenses last year.
Barnes Sees Demand and Revenue Growth as Profits Falls
The Indianapolis-based firm notched a triple-digit realization rate, tallying 102.1% last year.
Benefiting From Gulf South Reach, Phelps Dunbar Posts Double-Digit Increases in Revenue, Profits
The New Orleans-founded firm benefited in 2022 from offices across the Southeast, value pricing, and strong demand in core practices.
Crowell & Moring Posts Double-Digit Revenue Spike
The Washington, D.C.-based firm saw gains in its regulatory and litigation practices, as well as its contingency fee business, particularly in health care and antitrust recovery.
Technology & Innovation:
Reveal Acquires LIGL, Adds Workflow Automation and Legal Hold Capabilities to Reveal 11 Platform:
“The acquisition of LIGL highlights Reveal’s commitment to an ongoing approach to growth that emphasizes customer needs over everything else,” said Wendell Jisa, founder & CEO of Reveal. “The LIGL team and the technology they bring to Reveal will augment Reveal 11’s seamless investigative and eDiscovery functionality.”
How AI and Machine Learning Are Impacting the Litigation Landscape
Mike DeCesaris and Sachin Sancheti of Cornerstone Research detail how expert witnesses are incorporating artificial intelligence and machine learning into their testimony in a variety of civil cases.
Trust in Big Tech Is Plunging, Putting Sector at Crossroads
“Organizations that ignore or downplay the ethical issues associated with developing and using emerging technologies risk multiple forms of legal, reputational and organizational damage that can erode profitability and trust,” according to Beena Ammanath, managing director of Deloitte Consulting.
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.
Diversity & Inclusion:
Linklaters to Allow Staff and Partners to Swap Public Holidays
Linklaters has become the latest international law firm to allow its people in the U.K. flexibility over when they take holidays. The firm will allow its U.K. staff and partners to swap public holidays in a bid to give them more flexibility, according to an announcement by the firm on Thursday.
Celebrating Women’s History Month by Recognizing the Challenges Faced by Women Lawyers
In 2021, women made up almost half of all associates, but numbers fell quickly when it came to partnership. Only 26% of partners are women and only 4% are women of colour.
‘The Only Woman in the Room’: A Latina is Changing the Face of Arbitration in Miami
Being fully bilingual in a South Florida market that reaches into the Caribbean and Latin America has its distinct advantages.
Market Commentary:
More UK in-house teams plan to cut legal spend than most global peers, study shows
Almost a third of UK corporate legal departments are expected to tighten their legal spend over the coming months in response to tougher economic conditions, more than most other regions, according to a Thomson Reuters study.
4 Reasons Midsize Firms Are Beating Big Law in Litigation
Large corporate clients are increasingly tapping midsize and specialty shops for their litigation matters, but lower rates are only one part of the story.
Spinoff Fever on Wall Street Is Boon for In-House Attorney Market
“An opportunity to create a legal department from scratch, potentially, is very exciting for a number of in-house attorneys. And if it’s a publicly traded company, then one has an opportunity to ring the bell at the NYSC or the NASDAQ and be the first,” recruiter Mike Evers said.
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.
Is there something we can help you with?
If not right now, we can include you on next weeks' newsletter update?
CLICK HERE