After years of uncertainty, hyperbole and clashing opinions across Europe, we finally have in place the timeline of when the Unified Patent Court will (finally) be launched. My previous article explains the origins of the Unified Patent Court and why thus far it has not been able to go ahead. In this brief commentary, we will look at the reasons for the sudden change of pace and what this now means for not only existing patents, but the wider intellectual property world.
The origins of the UPC stated that the number of member states required to ratify the official creation of the UPC is 13. The 13th country, Austria, deposited its instrument of ratification on January 18th, 2022. With this confirmed, it now means that the provisional application period has now come into force. This means that the UPC can start to recruit staff and put in place IT infrastructure etc. ready for launch. It is anticipated that this will be ready to go in September 2022, although it could take longer.
This also coincides with the introduction of a Unitary Patent, which will allow applicants to file European patent applications, this will be searched and examined in the normal way. Once granted, applicants will be able to choose the Unitary Patent option that will provide a uniform right covering up to 25 of the 27 EU member states (Spain and Croatia have declined to take part) The obvious benefit behind the introduction of a Unitary Patent it’s that it will provide much simpler administration and lower maintenance costs across the board.
The specific date that the new system will come into force will be determined by the 13th state, in this case, Germany, who will have to deposit its instrument of accession to the UPC agreement. Germany has always passed through the required legislation, so it is purely a case of when not if. It has been commented that Germany will only deposit once all the above preparations are completed.
Moving back to the UPC, now 13 member states have ratified this, and the process is already underway to create the necessary infrastructure, it has been announced that the UPC will come into force by the end of 2022- unless there are any major last-minute roadblocks (which look highly unlikely at this stage due to the afore mentioned reasons) The UPC will create a more streamlined process for applications, it will also create legal certainty. Other positives include it will more than likely, cut costs for applicants who have multi-jurisdictional patent applications and help with pressures of the current administration procedure.
So where does this leave a patentee with existing European patents? When the UPC eventually happens, it will have jurisdiction to enforce and to invalidate any existing European patents with effect to all participating member states. This will apply to all European patents, including those which were granted years ago and are still in force.
When the UPC comes into force, it will not be based in one location. It will consist of several divisions spread over the participating member states (for political reasons) The court of first instance will have a central division in Paris and Munich. There was meant to be a branch in London, however since the withdrawal of the UK from the agreement (Brexit) there is no official plan for where this branch will be transferred to. There have been suggestions for a replacement- notably Milan and Amsterdam, however this is yet to be officially confirmed.
What are the benefits of finally having plans in place for the UPC?
Several in-house counsel I have been speaking with, have given a variety of benefits, however the most common ones were; a more streamlined approach to patents, as opposed to having multiple agreements across different jurisdictions. It has also been mentioned that the UPC will make patents stronger and give greater protection for the invention. This dovetails nicely with the fact that costs will be kept low due to being a “one stop shop”.
Whilst there are obvious benefits, it does create potential problems. One of them being that it has made it much easier for larger companies to cover their patents. It could potentially put smaller companies at risk due to the new structure of the UPC and indeed the unitary patent. In addition, there has been controversy around which languages will be officially recognized for the UPC. As it stands, English, French and German are the languages accepted. What does this mean for counties such as Spain & Italy? Spanish is arguably, one of the most used languages in continental Europe, if not globally, so this might potentially cause unrest. It will be interesting to see how this all develops once everything has gone live.
To surmise, whilst this has been a long time in the making, it now seems that everything is in place to make the UPC a real success. it is the next logical development of patents in Europe, and we now have a clear vision for the future. Remember that Europe was built on the mantra of getting stronger together.
Written by Chris Excell
Chris@Fidessearch.com
The Global Legal Post has compiled a comprehensive timeline to track the development of firms environmental, social, and governance initiatives globally. Most recently, De Berti Jacchia became the first Italian firm to become an official partner of ESG standards body the Global Reporting Initiative (GRI). While a number of law firms use the GRI’s standards, the only law firms listed as partners are De Berti Jacchia and Baker McKenzie.
This week:
Moves:
Shearman & Sterling Expands International Arbitration Offering
Matthew Skinner, international arbitration partner, has joined Shearman & Sterling from Jones Day.
DAC Beachcroft hires charity law partner to its market-leading health sector practice
Emma-Jane Dalley joins DAC Beachcroft from Veale Wasbrough Wizards, where she headed the charity sector at the firm.
Mishcon de Reya—David Whittaker
David Whittaker will join the firms tax and wealth planning group from Baker McKenzie.
Matthew Griffin joins Mayer Brown’s investment funds practice in London
Matthew Griffin, formerly of White & Case, joins Mayer Brown.
Pinsent Masons appoints third life sciences partner in Amsterdam
Judith Krens, life sciences patent specialist, moves from Taylor Wessing to become the 5th partner appointed in the Amsterdam Office.
Herbert Smith Freehills Hires Four-Strong Corporate Crime and Investigations Team in Milan
Enrico Maria Mancuso joins the firm from Pedersoli, bringing with him Federico Bracalente, a senior associate, associate Marco Mariotti, and trainee Sofia Ricasola Firidolfi.
SEC Veteran Kelly Gibson to Join Morgan Lewis
Morgan Lewis has continued to expand its bench of former government officials with Kelly Gibson, who will join the securities enforcement team.
Reed Smith welcomes highly-touted NY real estate finance team
The 5-partner strong team of Randy Eckers, Michael Estreicher, Talia Martin, Alexander Sokoloff, and Samuel Lee have joined Reed Smith from Akerman LLP, bringing 5 associates and 1 consultant with them.
Ashurst’s investment funds lead in Madrid heads to local firm
Josefina Garcia Pedroviejo joines Perez-Llorca from Ashurst to lead its financial services practice.
Securities & Capital Markets and Fintech Leader Joins Paul Hastings
Chris DeCresce joins Paul Hastings New York office as the Vice Chair of the securities and capital markets practice from Covington & Burling.
Allen & Overy adds another Akin Gump energy partner in Washington DC
Allen & Overy have hired George Cannon, Akin Gump’s head of energy regulation, markets, and enforcement in Washington, D.C.
Former FINRA Principal Counsel Deborah Renner rejoins Dentons in New York
Deborah Renner, commercial litigation expert, will rejoin Dentons as a partner.
Growing our Data Centre experience and capability- News – Eversheds Sutherland
Eversheds Sutherland has hired Sebastian Bonneau from Winston & Strawn to boost their data centre experience for their clients.
Linklaters M&A New York Duo Jump to Hogan Lovells
Peter Cohen-Millstein and Megan Ridley-Kaye have joined Hogan Lovells’ energy and natural resources group.
Deal Lawyer Katie Hull Joins McGuireWoods’ Global Private Equity Team in Dallas
Katie Hull, formerly of Sheppard Mullin, joins McGuire Woods.
Leading Private Equity Finance Partner Joins Latham & Watkins in New York
Stephanie Teicher has joined Latham & Watkins from Skadden Arps in New York.
Dentons welcomes back Crystal H. Walls to Real Estate practice in Birmingham
Crystal Walls rejoins Dentons after being the Assistant General counsel at Bayer Properties for three years.
DLA Piper has hired Matthew Jacobs and Jessica Heim into their San Francisco office.
Promotions & Appointments:
In the Singapore office, Clarinda Tija-Dharmadi has been appointed as the Asia Chair of the Transactions Practice to lead the Pan-Asian build out of its energy and infrastructure practice.
Dentons hires new ESG head from Hogan Lovells
Dentons has appointed Aragon St-Charles as its first global head of ESG, joining from Hogan Lovells Tokyo office.
Ashurst extends CEO’s reign until 2026
CEO Paul Jenkins will continue to lead the firm for another four years, alongside recently-appointed chair Karen Davies.
Australia’s Xakia Technologies hires UK legaltech entrepreneur to lead EMEA growth
UK-based Dan Wales has joined Xakia Technologies to support their expansion across the EMEA region.
Office Openings & Closings:
Three Crowns secures Shearman & Sterling’s Singapore head to launch first Asia office
Three Crowns has hired Daryl Chew, head of Shearman & Sterling’s Singapore office, to lead the launch of their first Asia Pacific office.
Fieldfisher Launches Mass Litigation and Legal Tech Unit in Germany
“Fieldfisher X”, a dedicated legal tech unit, has launched n Berlin with five lawyers and three partners, with the expectation of growing the unit to 50 people.
HFW hires leading shipping lawyer for Denmark launch
HFW has launched in Denmark with the hire of leading shipping Lawyer, Jens Mathiasen.
Dykema hires two litigators from McCathern to spearhead Houston launch
Detroit-based Dykema Gossett has hired Isaac Villareal and Andy Green, two business litigators, to launch their fifth Texas office and 14th in the US.
Ashurst overhauls Glasgow office in post-pandemic redesign
The Glasgow hub has been redesigned in a way which reduces the overall desk capacity by 40% as the firm reinvents how the office will be used in conjunction with hybrid working.
Bennani & Associés moves into Central Africa with Kinshasa office launch
African regional firm Bennani has opened an office in the Democratic Republic of Congo, its fifth office across the continents Francophone countries.
Financials:
White & Case posts double-digit growth as City revenue nears $450m
The firm’s Old Broad Street office has recorded $445m in revenue, up 12% from last years’ $397m. This growth was mirrored across the firm’s 45 global offices in 31 countries.
Fried Frank ups NQ pay by 10 per cent
The US Firms London salary figure will now stand at £160,000, rising from £145,000.
Eversheds NQs: Regional salaries rise by a quarter in latest hike
Eversheds NQ salaries will rise in London by 15.8% to £95,000 and in the regions it will increase by 24% to £62,000.
Squires’ City NQ pay rises to £95,000
Squire’s London NQ salaries will increase by 12% to £95,000 and in the regions it will increase by 10% to £55,000.
Dechert boosts NQ salary by 12 per cent
Dechert have raised NQ salaries 12%, to £140,000, putting them on par with White & Case.
Technology & Innovation:
In-house legal teams are taking on more tech-related responsibilities, new survey finds
About 97% of in-house counsels believe they have taken on more responsibility within their company’s tech ecosystem.
Heavyweight Trio Helps Meta Clear Regulatory Hurdle In $1B German Acquisition
Hengeler Mueller, Slaughter and May, and Hogan Lovells have helped Meta clear a major regulatory hurdle in Germany as the company finalizes its near $1bn acquisition of customer service platform Kustomer.
Diversity & Inclusion:
Simmons & Simmons’ new disputes head sets out training plans
This scheme adopts a bottom-up approach, allowing trainees and associates to pick the training that suits them at dispute resolution townhalls twice a year.
More than 20 regional and national Canadian law firms have sent an open letter to the federal government, calling on them to uphold their commitments to resettle refugees from Afghanistan in Canada.
The market is still on fire and has no signs of slowing down, with an abundance of moves and strategic office openings being announced, all while the NQ salaries rocket upwards.
The Irish market is the next frontier for law firms, with both Bird & Bird and Addleshaw Goddard announcing their office openings and mergers, respectively.
NQ salaries are surging forward in both London and the Regions, and there is a great debate emerging on this front. The consensus is that this accelerated rate of growth cannot be sustainable, and that it is creating a bubble that is doomed to pop.
This week:
Moves:
Wilson Sonsini builds in London with hire of EY’s global head of tech law
Richard Goold, formerly Head of Tech Law at EY, has joined tech and life sciences firm Wilson Sonsini.
Shearman & Sterling adds Hogan Lovells dealmaker in London
Maegan Morrison, corporate finance partner, joins Shearman & Sterling from Hogan Lovells.
Dentons hires Addleshaws banking partner
Manchester-based Simon Prendergast, a banking and finance partner, will join Denton’s London office.
Revolving doors: Major restructuring hire for Bakers in London
Baker McKenzie has hired Sarah Smith, restructuring and insolvency partner, from Dechert. She is tasked with expanding Baker’s restructuring and insolvency internationally.
Irwin Mitchell has announced the appointment of new partner Matthew Sillett into its London office.
Matthew Sillet, commercial partner, joins Irwin Mitchell from Cannings Connolly, where he was the managing partner.
Charlotte Garnitsch returns to Taylor Wessing and is appointed partner
Charlotte Garnitsch, IP partner, returns to Taylor Wessing’s Eindhoven office, after leaving the legal profession for one year.
K&L Gates continues to grow its Australian labour, employment and workplace safety team
Dominic Fleeton returns to K&L Gates’ Melbourne office after three years at Kingstone Reid.
Leading White Collar and Corporate Compliance Partner Joins Baker Botts
Michael W. Ward joins the litigation department in Palo Alto, moving from Vinson Elkins.
Seasoned FDA regulatory and compliance partner joins Reed Smith in Austin
Rebecca Jones McKnight, formerly with DLA Piper, joins the life sciences health and industry group in Austin.
Paul D. Moak is Reed Smith’s newest partner in Houston
Paul Moak, a leading restructuring an bankruptcy lawyer, joins Reed Smith’s Houston office from Gray Reed.
Promotions and Appointments:
Slaughter and May names new heads of corporate and M&A
Simon Nicholls and Richard Smith have been elected the next heads of corporate and M&A, replacing Andy Ryde and Roland Turnill.
Micro Focus hires new legal chief from Bupa
Janet McCarthy has joined Micro Focus as the new chief legal officer after 4 years at Bupa.
DWF’s Leeds head steps down after one year
Allison Page, a partner who specializes in infrastructure projects and energy, has stepped down as DWF’s managing partner in Leeds after one year in the role.
Stephenson Harwood Refreshes Dubai Leadership With Duo Hire
Stephenson Harwood has hired Rania Tadros, marine law specialist, to take over as Dubai managing partner from Sharon White.
Mergers and Alliances:
Addleshaws merges with 25-partner Irish firm
Addleshaw Goddard has merged with Eugene F Collins. All partners and staff will join Addleshaws, this plans to double the firm’s presence in the region by 2025.
Office Openings and Closings:
Bird & Bird becomes latest UK firm to launch in Dublin
Bird & Bird’s new office is set to open this summer, and will initially focus on privacy, data protection, tech, life sciences, IP and corporate law.
Kennedys continues pandemic expansion, doubles Madrid office space
Insurance law firm Kennedy’s is doubling its office space in Madrid for it’s 15-person strong team, as part of the WorkWise global workspace transformation programme.
Offshore Law Firm Debuts in Beijing
Ogier, a Jersey-based firm has launched in Beijing through a representative office, just months after having launched in Singapore.
PwC Legal Opens Office in Qatar
PwC Legal Middle East has launched an office in Doha, adding to their presence in the UAE and Saudi Arabia.
Financials:
The salary debate: This is how much clients think an NQ is worth
A growing number of clients believe that the scale of salary increases for NQ’s masks underlying problems in the way top tier legal services are delivered.
NQ Pay Bubble Isn’t Sustainable and Will Soon Burst, Partners Say
Partner have begun to ask for a cap on NQ salaries, with 95% of respondents to the survey answered that they did not believe the continued annual growth of NQ salaries could continue, and 67% also said they expected the bubble to burst within two years.
Bryan Cave Leighton Paisner Sees Profit Hike Alongside Equity Partner Exits
BCLP saw revenues increase by 2.1% and PEP increase by 29%, but this comes with headcount dropping. Overall headcount fell by 3.6% and the number of equity partners decreased by 14.7%, which is in line with the goals of their Project Advance.
There’s a retention glitch at Clifford Chance
Clifford chance has posted the lowest retention rate for 2022 at 70% – 14 of their total 46 trainees are deciding to leave – the equivalent to a minimum £1.5m million investment leaving the business.
DLA has just set off a regional pay war
DLA Piper has increased it’s London NQ Salary by 8% to £95,000 and it’s regional pay by 35% to £65,000.
Technology and Innovation:
Artificial intelligence and the art of noise over substance
Artificial intelligence initiatives have been a way for firms to draw in prospective clients by setting themselves apart from the rest, but is it becoming as “innovation theatre”?
Eversheds Sutherland to Donate Percentage of Profits to ESG
Eversheds has unanimously voted through the changed in December, for a minimum of 1% of the business’ net operating profit to be donated to environmental, social, and corporate governance initiatives, which include reducing internal carbon emissions and charitable trust donations.
Preparing for Europe’s Unified Patent Court
The establishment of the European Unified Patent Court is being finalized, and is set to be operational in about one years’ time.
Diversity and Inclusion:
Freshfields To Offer Paid Menopause Support For First Time
Freshfields has become the newest firm to roll out a UK menopause policy for its colleagues, including paid time off, effective from February.
The SQE is not living up to its promise on diversity
The discrepancy between white candidates who passed the SQE (65%) and those from minority ethnic groups (44%) poses concerns to the future of diversity within the legal profession.
Law Firm Diversity: Five Reasons for the Slow Progress
Michelle Silverthorn, attorney, founder, and CEO of Inclusion Nation, spells out five reasons why many law firms are failing to make progress on diversity, equity, and inclusion.
The SRA has issued new guidance for law firms looking to promote positive working environments.
Last year, we analysed the trends that were taking place in the Venture Capital Transfer Market in London between 2016 and 2020. This year, we wanted to follow up with what we saw take place in 2021. To recap, in our previous analysis, we found that, in general, the amount of lateral hires in the VC sector had been steadily increasing since 2016, as well as the fact that major US law firms were consistently hiring in this space.
| DATE | NAME | LEAVING | JOINING |
| February 2022 | Richard Goold | EY | Wilson Sonsini |
| January 2022 | Sarah Melaney | Brown Rudnick | Withers |
| November 2021 | Andrew Cooke | Sherrards Solicitors | Wallace |
| October 2021 | James Lyons | Devonshires | Lawrence Stephens |
| September 2021 | Jon Gill | TLT | Eversheds Sutherland |
| June 2021 | Adrian Rainey | Goodwin Procter | Balderton Capital |
| May 2021 | Alexis Karim | BCLP | DWF |
| May 2021 | Howard Watt | Sheridans | Fladgate |
| May 2021 | Frances Doherty | Dorsey & Witney | Simmons & Simmons |
| February 2021 | Fergus Gallagher | McDermott Will & Emery | Squire Patton Boggs |
| February 2021 | Peter Kohl | Kerman & Kohl | Armstrong Teasdale |
| January 2021 | Erika McIntyre | Withers | Taylor Vinters |
| January 2021 | Galfkos Tombolis | Kemp Little | Deloitte |
When comparing our data to our previous findings, we can see that the amount of lateral hiring has continued to increase from 2020 to 2021, following the same route as the previous trends. US and UK firms continue to show a heavy interest in building out their teams as the market is extremely busy and firms want to have the bandwidth to support as many clients as possible as well as appear attractive to prospective clients.
2020 was no doubt a record year in VC investment, with tech firms raising $10.5 billion total, and $249 billion in global funding being invested. 2021 turned out to be no different, with global funding skyrocketing 111% to reach $621 billion. Overall, the amount of capital being invested into tech grew at a steady rate, and seed investors were raising larger and larger funds.
In the UK alone, fintech investment topped $37.3 billion in 2021, a sevenfold increase compared to 2020, with over 600 M&A, VC and private equity deals finalised. London has further cemented itself as the leading European tech hub by way of total capital invested, as London raised $18.4 billion in the first 9 months of 2021, which was 2.6 times more than Berlin in second place. These record level investments have largely been driven by bigger rounds, as rounds over £250 million became 10 times more popular in the last year, and they now represent roughly 40% of the total capital being invested in Europe. In the same vein, rounds below £5 million have stagnated. These are typically at the pre-seed and seed-level of investment, and this is seen as a sign of a “seed squeeze”. However, the volume of investment rounds that are under £5 million is approximately the same as what occurs in the US and it accounts for 33% of all money invested in European tech.
The global unicorn counts has reached an all-time high with 959 companies, a 69% increase from 2020’s 569 unicorns. In Europe, 98 companies rose to the title of unicorn in 2021 alone. The decacorn herd, which is for companies that are worth $10 billion, has also doubled in size, as 26 European companies now hold this status. There is an array of cities in Europe that have become hubs for unicorns. Munich, Stockholm, and Cambridge are leading on ‘unicorn density’, but when looking at cities with a population greater than 1 million, Munich is the clear leader, with London not too far behind them.
New countries have joined the unicorn this list year, with Latvia and Cyprus being represented by Printful, who raised a $130 million growth rounds in May, and Nexters Group, who reached the status with a $1.9 billion SPAC deal. However, it is clear that, despite the density of unicorns in Munich and Stockholm, the UK is still the leading producer of unicorns, and has reached a momentous milestone having produced 100 unicorns in total.
Cross-border investing is also on the rise. While it is common to see US-based investors making investments in Europe, it is now becoming commonplace for European funds to inject capital into the US markets. It is expected that while European VC will “spread out” because physical location matters less and less, “foreign VCs”, namely those from the US, will still be very prevalent, particularly in the later-stage rounds. Christoph Reudig of AlbionVC credits this to the fact that “a lot of European countries don’t have the same kind of cash-rich investors as they do in the US… It takes time for an ecosystem to develop and we’re starting to see local investors exploring [later-stage] opportunities, but in the short term, I don’t think they will be as involved”. European tech itself is reaching unprecedented levels of growth and investment as it is currently on track to break the $100 billion milestone of capital invested in a single year, tripling the amount invested in 2020, so it is clear that these investors are getting involved, and in a few years’ time we will likely see the gap closing in the later-stages. As you can see in the chart below, European technology companies have already made their mark in early-stage funding, with the European share growing at the direct expense of the US – Europe has increased its share of funding by 13%, while the US has decreased by almost 20%. This shows the developing investor desire that will no doubt continue to grow in the amount of late-stage funding that occurs.
Competition is very strong leading to bigger valuations and bigger investments. There will be more emphasis on what additional resources VCs can bring to founders when competing to win deals with a big focus on human capital and talent as well as experience.
There will of course be challenges ahead and there is no surprise that ESG-related goals have come to the forefront of minds, both with start-ups and investors alike. Blackrock CEO and Chairman Larry Fink boldly stated: “It is my belief that the next 1,000 unicorns won’t be a search engine, won’t be a media company. They’ll be businesses developing green hydrogen, green agriculture, green steel, and green cement”. All tech companies and investors should pay close attention to ensuring good governance and understanding European disclosure requirements (see Articles 8 and 9 in the Sustainable Finance Disclosure Regulation (SFDR)).
We discussed last year the need to put a greater emphasis on diversity and inclusion and sadly not much has improved on that front. In 2021, diverse teams captured only 9% of the capital raised, despite there being clear evidence that they out-perform non-diverse teams. Although Pitchbook posits that talent will remain the biggest challenge for start-ups, we believe that the talent will, should and must come from increasingly diverse pools of candidates.
It is widely thought that while there will still be significant growth into 2022, the growth will likely be slower this year. With the rate of growth expected to plateau slightly, it is posited that the amount of lateral hires made this year will be similar to the amount made in 2021. Diversity is of course an issue for some of the law firm teams as well as we feel that this might have an impact on both lateral hiring and promotions in this space in 2022.
As Europe continues to cement itself as a giant in the world of VC, we will be interested to see how to trends of individual countries develop and compare to the trends that have been occurring in the UK.
all charts courtesy of State of European Tech 2021
—
By Syed Nasser, Head of Technology Transactions & Venture Capital & Gwendolyn Shaw, Researcher
Email: snasser@fidessearch.com
Mobile: +44 (0) 7960 739 158 | Direct Dial: +44 (0) 20 3642 1871
In January, there were a total of 41 partner hires in London at the top 50 UK and US firms, which is significantly higher than January 2021, where there were only 29 hires. This January, 44.27% of the hires were women, and 38% of the hires were senior associate/counsel to partner hires. 9 of the 11 promotional hires came from Allen & Overy, Clifford Chance, or Linklaters (Legal Monitor).
January also saw some big moves happening in the Bar, with Miranda Butler and James Hanham joining Landmark Chambers, Ratan Singh and Alexandra Bodnar moving to Keating Chambers, Naomi Dean and Lucey Coulson going to No5 Barristers’ Chambers, and Lucy Burrows and Lara Quir moving to 3 Verulam Buildings and Twenty Essex Respectively.
This week:
Moves:
Stephenson Harwood hires three partners for key practices
Simon Bollans returns to the technology practice from Osborne Clarke; Philip Prowse joins the marine and international trade practice from HFW; and, Rustum Shah joins to lead the Islamic finance practice in Dubai from Hogan Lovells.
Former SFO director joins US litigation firm
David Green QC, former director of the Serious Fraud Office, is joining Cohen & Gresser as a partner in the white-collar defence and regulation group.
Anthony Colegrave joins White & Case as a partner in London
Anthony Colegrave joins White & Case’s global capital markets practice and Africa practice from Allen & Overy, where he was a Counsel.
Corporate partner joins Simmons & Simmons in Frankfurt
Klaus Banke, corporate M&A partner, has joined Simmons & Simmons’ Frankfurt office.
Lars Raedschelders has joined Fieldfisher’s Brussels corporate practice from Moore Law.
Carlo Meert Joins White & Case as a Partner in Brussels
Carlo Meert joins White & Case’s global M&A practice from Cleary Gottlieb, where he was a counsel.
Allen & Overy continues growth of U.S. Restructuring practice with partner Robin Spigel
Robin Spiegel, banking and restructuring partner, has joined Allen & Overy’s New York office from Baker Botts.
Jacquelyn Kasulis Joins Kirkland & Ellis as Partner
Jacquelyn Kasulis, former acting US Attorney for the Eastern District of New York, has joined Kirkland & Ellis’ government, regulatory, and internal investigations group.
Mayer Brown partner exits for Morgan Lewis
In the first lateral hire of the year for Morgan Lewis, Merryn Craske, securitisation and structured finance partner, joins from Mayer Brown.
Promotions and Appointments:
HFW names global aviation head as next senior partner
Giles Kavanaugh, global head of aviation, has been named as Richard Crump’s successor.
DWF Latest To Announce Bumper Promotions Round
DWF has promoted 17 lawyers to partners, and 17 existing partners have been promoted within the partnership structure. Of the 34 total, 27 were within the UK, and 12 within the city of London.
Clifford Chance becomes final magic circle firm to publish spring retention
Clifford Chance’s trainee retention is at 69.6%, with 32 of the 46 trainees accepting the newly qualified roles.
Former BT lawyer joins Cancer Research’s legal team
Liz Walker has been appointed as Cancer Research UK’s interim general counsel and company secretary nearly 2 years after leaving BT.
Bird & Bird Triples London Management Team
Nick Perry will step down in May, and replacing him will be Phil Sherrell, the current head of international media, entertainment, and sport sector, Matt Bonass, head of corporate in London, and Zoe Feller, a tax partner.
EY’s former global climate change and sustainability lead joins Mishcon in new advisory role
Juan Costa Climent, a lawyer and former Spanish government minister, has joined Mishcon de Reya to lead a policy role in its sustainability business, Mishcon Purpose.
Mergers and Alliances:
Listed UK firm Knights acquires York independent Langleys for £11.5m
Knights has acquired Newcastle-based Langleys Solicitors for £11.5m to promote its strategy to grow nationwide through targeted acquisitions that are a strong cultural fit with the firm.
Office Openings and Closings:
Natasha Harrison unveils London litigation firm after mass defection from Boies Schiller
Natasha Harrison, formerly the deputy chair of Boies Schiller, has launched her boutique litigation firm Pallas Partners this week, pledging to create the “blueprint for a modern law firm”.
Financials:
Proskauer Sees Double-Digit Revenue, Profit Gains as Core Industry Sectors Thrive
Proskauer’s PEP rose 21% in 2021, and the revenue rose 18% to cross the billion dollar mark for the second time in the firms history.
Reed Smith Rivals Larger Firms With Pro Bono Hours Boost
Reed Smith’s London office has clocked 27,3000 hours of pro bono work in 2021, up 24% from last year, putting them ahead of the likes of Herbert Smith Freehills, Linklaters, and Baker McKenzie.
Technology and Innovation:
Legaltech firm BigHand acquires Iridium Technology to boost analytics offering
London headquartered BigHand has acquired US business intelligence and financial analytics provider Iridium Technology to create a single platform for financial and operational data.
Diversity and Inclusion:
It took me 17 years to get a training contract; here are 17 things I learned along the way…
Rawa Hussein discusses the obstacles she faced achieving her training contract.
A Mexican American is the first Latina president of Harvard Law Review
Priscila Coronado, a Californian-born daughter of Mexican immigrants, has been elected as the new president as one of the more prestigious US law journals. She is the first Latina president in the Harvard Review’s 135-year history.
Herbert Smith Freehills Partner Tops UK M&A Lawyer Rankings
Caroline Rae of Herbert Smith Freehills is the only woman on the list, and she has topped the rankings for M&A Lawyers for Deals in the UK during 2021.
It’s only January and, as evidenced with last week’s Weekly Update, the market is roaring.
This week:
Moves
Simmons expands disputes team with DWF recruit
David Kidman, a product liability partner, joins Simmons & Simmons from DWF
Orrick hires Taylor Wessing partner in first City lateral this year
Anna Humphrey, tax partner, joins Taylor Wessing from Orrick
Orrick partner takes new strategy role at OnlyFans
Keily Blair, Orrick’s cybersecurity and privacy partner, moves to OnlyFans as it’s chief strategy and operations officer
Revolving doors: CMS continues recruitment drive with IP hire
Toby Sears, patent litigation specialist, joins CMS from Allen & Overy
Mergers & Alliances
Merging with small firms is like shooting fish in a barrel
Macfarlanes and Wachtell have a friendship to watch
Promotions and Appointments
Norton Rose Fulbright unveils new-look EMEA management team
Financials
BCLP ups charge-out rates to match peers
Technology & Innovation
Linklaters clinches role for Unilever in £50bn GSK bid
Innovation is a slow-burn return for Clifford Chance
Diversity and Inclusion
First super-exam results: Half of students pass but huge diversity gap emerges
Hello and welcome to the first Fides Weekly Update of the year! Take a look at this week’s key trends, moves, and developments in the UK legal sector.
This Week:
Movers and Shakers
Moves
Kirkland & Ellis adds first London partner of 2022
James Roslington joins Kirkland’s Investment Funds practice from Libya-Analysis, a consulting company which specializes in sectors such as maritime security, oil, and energy, where he was a Director of Operations.
A&O hires City litigator from Norton Rose Fulbright
Michael Godden, former EMEA Head of Dispute Resolution at Norton Rose Fulbright, joins Allen & Overy as a Finance Litigation partner.
Kirkland & Ellis competition partner exits for Goodwin
Sarah Jordan, an antitrust specialist, joins Goodwin Procter from Kirkland & Ellis, where she will be building up the firm’s antitrust practice.
TLT enhances public sector offering with partner hire
Gemma Townley, who specialises in technology procurement and commercial contracts, joins TLT from Sharpe Pritchard
David Lewis Joins White & Case as a Partner in London
David Lewis, former Clifford Chance partner, joins White & Case’s Global Mergers and Acquisitions Practice.
Baker Botts Ramps Up Technology Sector Offering in London with New Corporate Partner
David Marshall, who focuses on private equity, venture capital, and technology M&A, joins Baker Bott’s Corporate team from Norton Rose Fulbright.
Revolving doors: New Year hiring spree gathers momentum
Emma Clark, a financial services M&A partner, and Edward Holmes, a private equity partner, join CMS from Linklaters and Clifford Chance, respectively.
Solicitor Also Moving To Will Disputes Team
Kamal Majevadia, former Sydney Mitchell Partner, joins the Irwin Mitchell Will, Trust and Estate Dispute team, which is the largest specialist national team in the UK.
Addleshaw Goddard Continues Recruitment Drive with Hire of Leading Energy Partner
Matthew Williams has joined the Infrastructure, Projects and Energy team at Addleshaw Goddard from Fieldfisher, where he was the Co-Head of the Energy and Natural Resources team.
Mergers & Alliances
Shakespeare Martineau joins forces with South East firm in 2022’s first merger
Weightmans strikes merger deal with RadcliffesLeBrasseur
Office Openings & Closings
Shoosmiths launches new outpost in Belgian capital
Promotions and Appointments
Norton Rose Fulbright unveils bumper round of 54 promotions
Six City lawyers get the nod in Reed Smith promos
Gideon Moore appointed Chief Legal Officer and General Counsel
Standard Chartered appoints Dr. Sandie Okoro as Group General Counsel
Financials
Acquisitions lead Knights’ H1 revenue to rise by nearly a third
Technology & Innovation
Wise general counsel moves to Santander-backed fintech
Quinn scores new competition mandate on bumper Facebook claim
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