Moves:
UK & Ireland
Paul Hastings lands IP hire from Bakers
Jason Raeburn joins the ranks of the firm after 12 years at Baker McKenzie. He specialises in intellectual property disputes relating to software development and licensing, cloud, and AI-related implementations.
Paul Hastings finance duo to exit firm
Duo Richard Kitchen and Amin Doulai are making the move. Kitchen was promoted to partner in 2017 and acts for both borrowers and lenders, while Doulai was promoted to partner in July last year and advises both private equity sponsors and borrowers.
Freshfields bolsters London leveraged finance and restructuring teams with double partner hire
The new arrivals are leveraged finance specialist Carol Van der Vorst and restructuring lawyer Lisa Stevens, who are joining from Ropes & Gray and Kirkland & Ellis respectively. Van der Vorst’s practice focuses on advising financial sponsors on cross-border debt financing transactions, while Stevens’s practice focuses on bespoke and complex special situations debt transactions.
White & Case hires M&A specialist from Slaughter and May
Top 10 global law firm White & Case has boosted its M&A practice in London with the addition of new partner, Di Yu, from Slaughter and May’s corporate team.
Kennedys Adds Transformation Director From Hogan Lovells
Karen Peskett-Hall leaves Hogan Lovells after five years, according to her LinkedIn profile, during which time she set up and led an in-house transformation consultancy, described by Kennedys in its statement as “the first of its kind in a law firm”.
EMEA
Milbank Hires 3-Lawyer Capital Markets Team From Clifford Chance in Germany
Philipp Klöckner, Nico Feuerstein and Mira Zimmerman will join the firm’s capital markets practice, advising listed and private equity clients and providing advisory services for initial public offerings in Germany, according to the firm.
Law Firm Al Tamimi Rehires Partner as Digital and Data Head
David Yates returns to the firm’s Dubai office as partner and regional head of digital and data, to lead a team that boasts extensive know-how and presence in the region, the firm said in a statement.
PwC Legal Refreshes CEE Management
PwC Legal has appointed former Allen & Overy partner Hugh Owen as its next head of legal in Central and Eastern Europe, after the exit of long-standing head Karl Paadam.
The Americas
With Demand High in LNG Sector, White & Case Partner Transfers to Houston From Singapore
White & Case partner Jamie Franklin has moved from the firm’s Singapore office to Houston, Texas, expanding the energy team in that office. which has doubled its lawyer head count since early 2021.
Littler Affiliate in Brazil Hires Former Judge to Launch Workplace Policy Practice
Márcio Eurico Vitral Amaro comes on board as a partner as lawyers in Brazil prepare to play a more active role in the preparation of legislation and regulations. As a former justice of the Brazilian Superior Labor Court, Amaro has deep experience handling strategic and highly complex cases throughout Brazil.
APAC
Hires Across Asia for Howse Williams, Ashurst, CAM and Haiwen
Hong Kong firm Howse Williams now has 33 partners in Hong Kong while Ashurst has expanded further in Tokyo.
In-House
Evelyn Partners has hired Charlotte Davies of Provident Financial Group as its next GC. Having spent three years as group GC and company secretary at Provident, she replaces Evelyn’s current GC Nicola Mitford-Slade who is retiring from the role. Davies will begin her new position on 1 September 2022.
Ericsson Brings in Legal Head From Telecoms Rival
Swedish telecom company Ericsson has hired a head of global legal affairs and strategy from a telecommunications rival. U.K.-based Cheryl Yuan has joined from Dutch telecoms company VEON Ventures, where she was most recently general counsel for just under two years and prior to that, deputy general counsel for seven years, according to LinkedIn
Promotions & Appointments:
American Bar Association swears in Deborah Enix-Ross as its new president
The American Bar Association has sworn in senior Debevoise & Plimpton adviser Deborah Enix-Ross as its new president, replacing Clark Hill partner Reginald Turner in the top seat. Enix-Ross was sworn in by recently retired US Supreme Court Justice Stephen Breyer at the conclusion of the ABA’s annual meeting in Chicago. She becomes the 11th female to hold that office.
Mergers & Alliances:
US legaltech firm Aderant acquires people management platform viGlobal
US legaltech firm Aderant has agreed a deal to acquire Toronto-based people management platform viGlobal to bolster its front and back office product offering for law firms. The deal will give Aderant’s users access to viGlobal’s suite of people management tools designed to improve the recruitment and retention of staff, something that has become increasingly important for law firms amid the broader ‘great resignation’ trend, which saw almost 50 million people quit their jobs last year in the US alone.
Office Openings & Closing:
Capsticks opens in seventh UK location
Capsticks has opened an “office hub” in Colchester to support its new insurance team. The workspace opened in May 2022 and is located at Lodge Park Business Centre in Langham, a 15-minute drive from the heart of Colchester.
Gowling WLG Bolsters Middle East Presence with Abu Dhabi Office
Gowling WLG is expanding its presence in the Middle East with the opening of a new office in Abu Dhabi, bringing its offices in the region to a total of three. In a statement, the firm described the move as a “logical next” step, with Abu Dhabi clients “already accounting for 30% of the firm’s revenue in the UAE”.
The U.K.-based plaintiffs firm PGMBM, which operates as a partnership between British, Brazilian and American lawyers, is launching an office in Rio de Janeiro following a significant win for claimants harmed by a dam collapse at a mine co-operated by BHP Inc. in Brazil.
Financials:
Law firm profitability declines for fourth quarter in a row, Thomson Reuters index shows
Law firm profitability declined for a fourth straight quarter in the second quarter of this year, with the Thomson Reuters Law Firm Financial Index ‘flashing warning signs’ for the near term outlook if current trends continue unabated. The four-quarter losing streak is the longest slide in the index’s history and comes after two years of record profitability for firms.
At a time when high profits and pay are being scrutinised, CMS’s managing partner believes lawyer high pay is a reflection of the elite services on offer.
Strong pound and reduced headcount drags HFW’s revenue below £200m
The 0.8 per cent dip stands in contrast to the previous year, when HFW broke the £200m barrier due to a 2.6 per cent growth in turnover from £195.2m. According to HFW, the latest figures are due to the reduced lawyer headcount across the firm’s six sectors following “prudent management of the business” during the Covid-19 pandemic.
Mills & Reeve distributes £2.4m in bonuses after record turnover
The staff bonus pool has grown 9 per cent from £2.2m to £2.4m for the 2021/22 financial year, meaning each employee received over £2,000 in July. Staff who had worked at the firm for the whole of the last financial year received £2,231, while employees with five years service or more received £2,566. Partners were exempt from the bonus.
UK PEP at CMS finally hits £1m milestone
CMS’s UK average profit per equity partner (PEP) has broken through the £1m barrier, having fallen shy of the mark the year before, The Lawyer can reveal. The result shows a 14 per cent increase, from £912,000 to £1.04m. This growth is double that of the previous year, which saw UK PEP rise 7 per cent, from £850,000.
Clydes’ PEP dips in post-BLM merger results
Clyde & Co’s total revenue climbed 1.6 per cent from £639.6m to £650m over 2021/22, as revealed in its first set of financial results since the BLM merger was finalised earlier this year. Net profit increased 4 per cent from £152.8 to £159m, while profit per equity partner (PEP) dipped 1 per cent from £715,000 to £708,00.
Linklaters’ PEP continues rebound as it nears £1.9m
Linklaters’ revenue has risen 6.5 per cent to £1.78bn, a better result for the magic circle firm after its modest results last year. The results contrast with those posted for the financial year 2020/21, in which turnover went up by just 2 per cent to £1.67bn. Average profit per equity partner (PEP) continues to rise after falling in 2019/20. It was up 5.4 per cent on the previous financial year to £1.86m. Last year, PEP rebounded by almost 10 per cent after a 5 per cent drop from £1.61m to £1.77m.
Dentons’ UK revenue up by 14 per cent
Dentons has added £31m to its top-line across the UK, Ireland and Middle East (UKIME), bringing its total revenue to £260.4m. The uptick of 14 per cent from £229.1m is a significant improvement on 2020/21, when revenue nudged up by just 1 per cent.
DAC Beachcroft’s profits per partner down for first time in eight years
DAC Beachcroft’s profit per equity partner (PEP) has fallen for the first time in eight years, the firm has announced in its unaudited financial results for the FY year end 2022. It fell by around 7% to £652,000, from what the firm described at the time as its best ever figure of around £700,000.
Clyde & Co clocks up 24th straight year of revenue growth but PEP dips
Clyde & Co saw revenue grow by 1.6% in the last financial year to £650m, the 24th consecutive year the firm has increased revenues. That growth jumps to 2.6% when measured on a constant currency basis, according to the firm, which generates more than half of its revenue outside the UK. It has also reported a 4% increase in profit to £159m. However, profit per equity partner fell marginally to £708,000 from £715,000 in the previous financial year due to an increase in the number of equity partners.
Stephenson Harwood turnover stands still at £200m
In 2018/19, the firm announced a 12 per cent turnover increase to hit £213m. However, this figure remained unchanged in 2019/20 and then dropped to £206m in 2020/21, where it flatlined over the last financial year. Average profit per equity partner (PEP) also remains stagnant, as the firm posted the same figures as the year before. The firm declined to publish its PEP in 2020/21, but it is now understood to have been £685,000. This has fallen from the £727,000 it reported in 2018/19, which was up after a two-year slump.
London associate pay war bleeds into holiday season as Jones Day raises NQ rate to £140k
Jones Day has increased salaries for its newly qualified (NQ) associates by an eye-watering 27%, taking its pay from £110,000 to £140,000, according to Legal Cheek. Although the firm would not comment on its rate, the salary is outlined on its website. Trainee salaries start at £54,000 rising to £61,000 after 12 months.
Mishcon pursues tech overhaul without IPO investment
Mishcon de Reya is reconsidering other forms of investment to replace funds it had earmarked from its now postponed IPO. The firm has commenced costly plans to revamp its practice management system, kickstarting the two-year process this summer to redesign its tech platforms. The aim is to create a frictionless environment for lawyers to service clients more efficiently.
Dollar’s Strength May Influence Billing, Talent and Expenses in Big Law
Law firms won’t totally pivot their international strategies based on the fluctuating value of currency. But the dollar’s increased strength may influence how U.S. law firms manage certain expenses, set billing rates and perhaps give them a boost when they’re trying to attract laterals around the globe, say law firm leaders and industry analysts.
Technology & Innovation:
Loeb & Loeb creates new Web 3.0 manager position to help clients with blockchain projects
US firm Loeb & Loeb has hired crypto expert Gian Pastore as its Web 3.0 manager, a newly created position to help support clients and the firm with blockchain and Web 3.0-related projects. Pastore joins the firm in its Los Angeles headquarters from US software company MarkMonitor, where he was a domain portfolio advisor. He brings with him non-legal technical experience in cryptocurrencies, NFTs, blockchain domains and the metaverse.
Transactional Work Is Changing. Law Firms Are Getting Ready
Law firms are positioning themselves to compete in a new era of M&A that involves technologies such as blockchain, DeFi and Web3, says Gilbert + Tobin’s Peter Reeves.
Diversity & Inclusion:
Even working class Oxbridge graduates fail to prosper, study into socio economic diversity finds
Boyce – the first black law society president – was commenting on the Building The Baseline: Breaking the Class Barrier Report published today (11 August) by The City of London Socio-Economic Diversity Taskforce. It found that 64% of senior leaders are from a family with a professional background, a markedly higher proportion than the general UK population (37%). Employees from a family with a professional background were also 43% more likely to be at a senior level than their working-class colleagues while more than one quarter (26%) of senior employees attended fee-paying schools – three times the national average of 7.5%.
‘I Felt Like a Quota’: One Registered Blind Lawyer Lays His Law Firm Experiences Bare
“Disability is at the bottom of the profession’s agenda compared to other protected characteristics”, said Travers Smith associate Kaleem Khan.
Law Firm HSF’s Sydney Office Switches to ‘100%’ Renewable Energy
Herbert Smith Freehills has signed a power purchase agreement by which its Sydney office will become powered entirely by wind and solar energy. The firm has signed a virtual power purchase agreement with wholesale electricity retailer Flow Power, which came into effect on 1 July, the firm announced.
Destroying the Myth of the ‘Gladiator’ Lawyer
George Strathy, the chief justice of Canada’s largest court system, is urging law firm leaders to help combat stress and anxiety in the legal profession. Law firms are listening.
Thanks to US Government Regulators, Law Firms See Increasing Business in ESG
As the U.S. government moves closer to regulations requiring climate disclosures, large law firms are staffing up on ESG lawyers and are already seeing more business from corporate clients rattled by the potential changes. The Securities and Exchange Commission in March proposed rules requiring climate-related disclosures in registration statements and periodic reports, although the climate disclosure rule had been on the SEC’s agenda for two years.
Ukrainian Legal Developments:
Inner and Middle Temple come together to help Ukrainian lawyers find UK legal work
Inner Temple and Middle Temple are looking to provide practical employment support to Ukrainian lawyers through a new ‘matching scheme’ launched this week. The Inns say the programme is open to Ukrainian lawyers and legal professionals currently based in the UK, many of whom have been seeking opportunities to work within the UK legal profession since fleeing the war in their home country.
“Every Ukrainian who learns English will be much more aware of European life. This will also help the formation of Ukraine’s subjectivity in the world globalization processes. In addition, after our victory, it will affect the growth of Ukraine’s investment and tourist attractiveness,” said the deputy minister.
Moves:
UK & Ireland
Armstrong Teasdale adds IP quartet from Phillips & Leigh as London expansion continues
The quartet include Jim Boff, Martin Hammler, Arthur Boff and James McAllister, who will be joined by a number of support staff. The team focuses on a range of IP, including patents, trademarks, designs, domain name registrations and copyright. They also provide advice on IP strategy.
Dentons hires veteran Dublin disputes lawyer from McCann FitzGerald
Dentons has hired Dublin disputes lawyer Karyn Harty from McCann FitzGerald as its new head of litigation for Ireland.
Clifford Chance Appoints New UK Head Of Inclusion
Clifford Chance has created a U.K. head of inclusion role, as the industry seeks to improve its standing in many areas of diversity and inclusion. The law firm has appointed Nina Goswami to the new position.
Dechert Adds Funds Partner To Growing Irish Office
The firm has hired Emmet Quish from Dillon Eustace, where he was a lawyer for over 17 years according to his LinkedIn profile, specialising in asset management and investment funds.
Bryan Cave’s Manchester Head Leaves For DWF in London
Damian Fleming will bolster the firm’s London team from September, having spent the last 16 years at BCLP, originally joining legacy firm Berwin Leighton Paisner. The last five years have been spent as managing partner of the firm’s Manchester office.
Norton Rose Fulbright Energy Partner Quits for Akin Gump in London
Matthew Hardwick has spent the last 13 years at Norton Rose Fulbright, seven of which were as partner, according to his LinkedIn. He will join Akin Gump in September, according to a person with knowledge of the situation.
EMEA
Latham targets real estate PE deals with Linklaters partner hire
Carsten Loll joins the firm after five years at Linklaters, where he was a partner in the Magic Circle firm’s real estate group.
Goodwin Procter grows Munich presence with private equity partner hire from Shearman & Sterling
Winfried Carli joins the recently-launched Munich office having spent his entire professional career at Shearman, including 14 years as a partner.
The Americas
Perkins Coie replenishes West Coast ECVC ranks with double partner hire
Former Perkins Coie counsel Chris Grogan is re-joining the firm in Los Angeles from his role as general counsel of California fintech startup Stealth, while Steve Davis is moving across to its Portland office after 15 years at rival Seattle firm Davis Wright Tremaine.
Bain GC Moves to Ropes & Gray, Underscoring ‘Symbiotic’ Relationship Between Firms
A general counsel at Bain Capital, David M. Hutchins, is moving to Ropes & Gray as a partner in its private equity practice. The move further solidifies the Boston-based law firm’s longtime “symbiotic” relationship with the private equity giant, even as Ropes continues to face increasing firm competition in the PE world.
APAC
Ashurst’s Singapore ally snaps up M&A team from Allen & Gledhill
Ashurst’s Singapore ally ADTLaw has hired a senior M&A team from local powerhouse Allen & Gledhill. The team is led by partner Tao Koon Chiam, who has joined the firm as head of M&A for Southeast Asia. Partners Xiaozheng Ko and Yi Ming Choo have moved over with him alongside counsel George Kho.
Promotions & Appointments:
Savills Taps Associate GC as New Legal Chief, as Longtime GC Retires
Stanton Towne has retired as Savills’ North American executive vice president and general counsel after more than 14 years with the London-based real estate company. He is succeeded by James Repking, who joined the company in December as associate general counsel.
Mergers & Alliances:
Clyde & Co further expands Latin America footprint with Chile merger
Clyde & Co is opening a permanent office in Chile as part of a merger involving its local partner firm Grasty Quintana Majlis and construction lawyers Halpern Pino as it seeks to further Latin American growth.
Office Openings & Closing:
Eversheds Sutherland secures PwC Legal’s Germany head for Frankfurt launch
Steffen Schniep, who also led the Big Four accountancy firm’s global M&A practice, will join Eversheds Sutherland in the autumn ahead of the office’s planned launch in January.
Arnold & Porter targets EU life sciences sector with Amsterdam office launch
The office, the firm’s third in Europe after London and Brussels, will be led by partner Carla Schoonderbeek, who has joined from Dutch firm Hoyng Rokh Monegier along with newly-minted partner Bart Jong.
Fieldfisher zeroes in on Europe under new strategy
Managing partner Rob Shooter took over from Michael Chissick, who led the firm for a decade. Shooter, Fieldfisher’s former head of the technology, data and outsourcing practice, has made European growth a key goal of his tenure. This could include office openings, but also greater integration between the firm’s current bases.
Financials:
Want a £100,000 pupillage award? Join a specialist set
News that Gray’s Inn Tax Chambers has increased its pupillage award by 43 per cent, from £70,000 to £100,000, has been met with shock by sources within the barrister community. The enormous leap means that the specialist tax set is now believed to be offering the highest pupillage award at the Bar. Pupils will have the option to draw down £25,000 in advance to cover postgraduate legal training fees.
Trowers follows rivals with regional NQ pay hike
Average profit per equity partner (PEP), newly-qualified (NQ) salaries and revenue are all up at Trowers & Hamlins since a shake-up in management in April 2021. For NQs in London, this month the firm upped their salaries from £72,500 to £80,000. Junior lawyers in the regions will now earn £60,000, a £13,000 jump (equivalent to 28 per cent) from the £47,000 they were earning before.
Norton Rose increases NQ salaries with potential £147,000 for top performers
Norton Rose Fulbright (NRF) has increased its NQ salaries from £95,000 to £105,000, an 11 per cent uplift. The firm said in a statement newly-qualified lawyers who achieve the required hours may also receive a bonus between £118,125 to £147,000, inclusive of base salary and performance bonus.
Addleshaws’ global revenue hits £377m
Addleshaw Goddard’s global revenue increased by 18 per cent to £377mm over 2021/22, while total profit rose by £21m to £155m. The previous year, the firm’s revenue smashed through the £300m barrier, posting a figure of £321m.
Law Firm Freshfields Says US Efforts Are Paying Off as Revenue Catches Up
Despite slower revenue growth during the financial year 2021/22, the U.S. offering was its saving grace. While the firm did not provide specific revenue breakdown for its jurisdictions, global managing partner Alan Mason told Law.com International that the U.S. drove “a significant portion” of its 10% revenue growth.
UK law firm Charles Russell Speechlys’ PEP has fallen
Charles Russell Speechlys’ financial growth has shrunk after a standout 2020-21 year, including a drop in profit per equity partner (PEP). Its PEP slid down by 1.3% to £526,000, marking it an outlier in a bumper crop in PEP increases this year among law firms announcing their April 2022 year end results.
Technology & Innovation:
LawtechUK receives a further £4m in funding from UK government to develop legaltech
The UK government is investing a further £4m to boost digital transformation in the legal sector as it strives to become the go-to market for digital legal innovation. The new investment from the UK Ministry of Justice (MoJ) will deliver the second phase of the Lawtech UK programme, which was launched in 2019 when the MoJ invested an initial £2m to kickstart the initiative.
Bigger law firms lagging on content marketing, new study finds
The research, by content marketing software provider Passle, underscored that the explosion in online content during the Covid-19 pandemic shows no signs of abating. Smaller firms are catching up with their larger rivals, however, with those with more than 1,500 lawyers seemingly struggling to give their experts a voice in the market.
UK’s New AI Regulatory Approach Diverges From EU, But Shares Common Principles
More than a year after the European Union became the first entity to propose regulations governing the use of artificial intelligence, the U.K. has now released a policy paper revealing what its own regulatory approach to AI could look like in a post-Brexit world. While both the U.K. and the EU ultimately aim to protect similar core principles, such as transparency and safety, the U.K. offers a unique approach for other regulators looking to draft their own laws—one that aims to avoid overregulation and remain future-proof as new technologies continue to emerge.
Diversity & Inclusion:
Lawyers as Ethical Leaders. Really?
The debate over how removed law and ethics should be from one another is as old as the law itself. Good thing, then, that we don’t need to get bogged down in all that right now. The question for now is, given the role they play in society and the business world, should law firms be ethical bellwethers, or is it right that they stay ethically neutral when considering an instruction?
Which Top Law Firms are Turning Down Clients on Ethical Grounds?
A Law.com International survey of over 30 firms highlights the sectors where firms are more likely to decline instructions, as firms ramp up ESG policies following the Ukraine war. Law firms have traditionally been reluctant to draw ethical lines in the sand. The profession prides itself on the premise that everyone is entitled to legal representation. But recent events have forced them to start taking an ethical stance where they might not have previously.
Ukrainian Legal Developments:
Amnesty regrets ‘distress’ after report claiming Ukraine violated international law
Amnesty International said Sunday it “deeply regrets the distress and anger” caused after it alleged that Ukrainian forces were flouting international law by exposing civilians to Russian fire. The rights group said, “We fully stand by our findings,” but stressed that “nothing we documented Ukrainian forces doing in any way justifies Russian violations.”
Moves:
UK & Ireland
Ropes partner exits after four years
A Ropes & Gray London partner has left the firm after nearly four years, The Lawyer has learned. Carol Van der Vorst has exited the US firm’s finance group, having joined in 2018.
Skadden replenishes arbitration team with A&O hire
Kate Davies QC joins Skadden from the magic circle firm, where she has spent the last nine years. She was promoted to partner in 2016 and started out her career at WilmerHale.
Pinsent Masons Tax Duo Quit To Join DLA Piper
DLA Piper has hired two tax partners from Pinsent Masons in London, including its tax litigation head. Partners Stuart Walsh and Clara Boyd will join the firm’s tax practice on August 8, leaving Pinsent Masons after over a decade at the outfit.
EMEA
Goodwin continues Munich growth with finance lateral
Winfried Carli was a long-term Shearman lawyer, spending 22 years at his previous firm before joining Goodwin’s Munich outpost.
Watson Farley & Williams is forming a new dispute resolution practice in Madrid just weeks after the firm launched the same practice in Paris. The firm has hired Baker McKenzie partner Victor Mercedes to head the practice.
Goodwin Procter Bolsters Munich Office With Shearman Partner Hire
Goodwin Procter has hired Shearman & Sterling finance partner Winfried (“Winni”) Carli for its private equity practice in its Munich office, which was opened earlier this year.
The Americas
Squire Patton Boggs builds US data privacy bench with Arent Fox and BakerHosteler hires
Squire Patton Boggs has expanded its data privacy practice on the East Coast with the addition of two lawyers from Arent Fox Schiff and BakerHosteler. Julia Jacobson joins Squire from Arent Fox as a partner in New York, while Shea Leitch joins as of counsel from BakerHosteler in Washington DC.
Norton Rose Fulbright bolsters corporate team with partner hire from Buchanan Ingersoll
Norton Rose Fulbright has hired veteran corporate lawyer Rajiv Khanna from US national firm Buchanan Ingersoll & Rooney to bolster its cross-border transactions team. Khanna joins as a partner in the firm’s New York office where his practice will focus on M&A deals and special purpose acquisition company (SPAC) work. He regularly advises clients in the tech and life sciences sectors on cross-border M&A, securities offerings, corporate finance matters, project finance and real estate.
BCLP hires Baker McKenzie’s former global chief information officer in Chicago
Bryan Cave Leighton Paisner has hired Baker McKenzie’s former global chief information officer to take up the CIO role at BCLP. Dan Surowiec joins in Chicago, bringing with him more than a decade of experience as a CIO and vast expertise in designing and delivering technology systems to support the provision of legal services.
Baker McKenzie Vet Heads to Bryan Cave Leighton Paisner as Its Next CIO
Bryan Cave Leighton Paisner has hired longtime Baker McKenzie global chief information officer Dan Surowiec to serve as its next CIO, rejoining his former colleague Jason Marty, who came aboard as the trans-Atlantic firm’s chief operations officer in 2020.
Brazil’s Mattos Filho Hires 9 Black Lawyers as Its Diversity Initiative Gains Traction
Afro-Brazilian lawyers have long been underrepresented in the legal field in Brazil. But Mattos Filho is trying to change that. The firm has hired nine Black lawyers, who will join seven different practice areas.
Brazil’s Demarest Adds Labor and Employment Partner
Stella Castro joins in São Paulo from Pessoa Advogados, where she was also a partner.
In-House
French Connection GC joins Unilever’s beauty business
Sara Mackie has joined Elida Beauty after eight years at French Connection.
Dentons’ ex-UK MD lands new role
Lisa Sewell stepped down from her post in March 2022 and has now joined FTSE 100 Irish betting and gaming company Flutter Entertainment. She is the business’ new chief people and operations officer.
Promotions & Appointments:
Arm lines up new legal chief ahead of potential IPO
Spencer Collins has been named in the role after five months of being the business’ interim general counsel.
Ince CEO to step down as firm reveals ‘financial difficulties’
Top 50 UK listed law firm Ince is parting company with its chief executive and embarking on an £8.6m fund raising as it responds to ‘financial difficulties’ fuelled by the impact of Covid-19, Russia’s invasion of Ukraine and a costly cyber attack.
Paris Arbitration Week reshuffles leadership, elects three new board members
The Paris Arbitration Week association (PAW) has reshuffled its leadership by adding a trio of new members to its board for three-year terms. Diamana Diawara, Elsa Paparemborde and Vanessa Thieffry join the existing members of the board, replacing Yasmin Mohammad, Alexander Fessas and Clément Fouchard, whose terms ended this year. Mohammad, Fessas and Fouchard are founding members of PAW, having served on the board since the organisation was established in 2020.
Forsters names next senior partner ahead of London office move
Real estate and private wealth law firm Forsters has appointed property litigation partner Natasha Rees as senior partner ahead of a move to new London headquarters next year. Rees is set to begin the role in September and succeeds Smita Edwards, who is stepping down after eight years at the helm.
King & Spalding Appoints New Singapore Head to Further Sector Diversification
King & Spalding has appointed a new Singapore managing partner as the firm continues its push to diversify its sector expertise in the city-state. Debt finance and restructuring partner Andrew Brereton, who joined the firm in 2019, will take on the new role, succeeding project finance lawyer Kelly Malone.
Two Managing Partners Are Better Than One
WeirFoulds, a mid-size Canadian law firm, has decided that two co-managing partners are better than one. Denise Baker will join Wayne Egan as the new Co-Managing Partner. Wayne has acted as the Managing Partner since he was appointed to the position in 2018.
Covington & Burling Taps Arbitration Partner to Head Latin America Initiative
Covington & Burling has appointed an arbitration partner with roots in Chile to lead its Latin America initiative after the group’s former regional practice head decamped for Akin Gump Strauss Hauer & Feld. Nicole Duclos will coordinate efforts related to the region alongside the co-chairs of Covington’s Latin America practice.
Office Openings & Closing:
Kennedys continues US expansion with Houston launch
UK law firm Kennedys had hired a trio of energy insurance partners from local rivals to open its ninth US office, in Houston. Doug Wheat, formerly of Wheat Oppermann, has joined alongside Candace Ourso and Callie Murphy, both from Schouest Bamdas Soshea & BenMaier. Associate Amanda Farley has also moved over from Wheat Oppermann.
Australia’s Wotton + Kearney Poaches Eight-Strong Team to Open New Office in Canberra
Specialist insurance law firm Wotton + Kearney has poached an eight-member team from Australian firm Sparke Helmore to open a new office in Australia’s capital, Canberra, as it expands following a recent private equity investment. Catherine Power and her team will join the firm on Monday as it seeks more government work.
Financials:
Two more firms reveal boosts in staff pay
Withers is offering a one-off payment of £1,000 to staff to help with the increase in the cost of living, as other firms reveal additional wage boosts for their staff. In addition to Withers’ one-off pay bump, Freeths has boosted salaries for fee-earners and non-fee earners in the firm, while also handing out all-staff bonuses.
Freshfields’ PEP surpasses £2m mark
The firm’s PEP has grown from £1.91m to £2.07m, while the firm said turnover had risen by 10 per cent to £1.7bn on constant exchange rates. For 2020/21, however, The Lawyer reported a revenue of £1.59bn for Freshfields, which equates to a 7 per cent rise.
Walker Morris on target to hit £70m by 2024
Revenue at Leeds-based Walker Morris grew 10 per cent over 2021/22, as the firm sets its sights on achieving £70m in turnover within the next two years. The firm reached £60.7m over 2021/22, a jump on results reported the previous financial year. While turnover grew from £55.2m to just under £61m, the firm’s net profit has increased by a similar amount of 11.5 per cent. This took it from £22.6m in 2020/21 to £25.2m for the last financial year.
Fieldfisher’s PEP breaks £1m barrier
Fieldfisher’s profit per equity partner (PEP) has hit £1.05m after increasing 22 per cent in 2021/22 from £860,000 in the previous year. Elsewhere, the firm’s UK revenue has jumped up 17 per cent and firm-wide revenue has grown by 15 per cent – increasing to a total revenue of £330m.
Macfarlanes’ PEP leaps to all-time high of £2.5m
The firm has seen its average profit per equity partner increase from £2.085m to £2.484m, a 19 per cent increase over the year. Turnover is up 16 per cent from £261m to £303.7m, while operating profit has jumped 15 per cent to £164.2m. Last year, the firm reported single-digit percentage rises in revenue and PEP. Operating profit rose by 12 per cent in 2020/21.
Kingsley Napley turnover hits high of £55m
Kingsley Napley has reported a 17 per cent rise in revenue for 2021/22, a significant increase from the previous financial year, which saw a 2 per cent drop. The firm reported a rise from £47.1m to £55.2m, the highest in its history. Managing partner Linda Woolley was re-elected for another three-year term in May 2022, and she has held the role since 2007.
Shepherd and Wedderburn ‘hits strategic targets’ to post 5% revenue increase
Shepherd and Wedderburn has reported 5% growth in fee income in the year to 30 April against a moderate 3% rise in net profit. The increases have seen revenue at the Edinburgh-based firm, which does not disclose profit per equity partner, hit £62.2m as profit reached £26m.
UK GCs’ take home pay significantly lags the rest of the world, study finds
Chief legal offices and GCs in the UK take home base salaries that are around $60,000 lower than the global average. Pay has also been rising at a much slower clip in the broader Europe, Middle East and Africa region, with salary growth hitting just 2% since 2020 compared to 15% in the US. GCs in EMEA and Asia Pacific earn $354,000 a year on average in total compensation (including bonuses), compared to $578,000 in the US. Part of the reason for that disparity is down to the elevated role GCs have in US boardrooms compared to the UK.
‘We Don’t Really Have a Strategy’: Law Firms Still Grappling With Rising Pay
The Big Law arms race for top attorneys has been a defining feature of the legal industry lately. But many law firm leaders still aren’t totally sure how to reconcile the rising cost of talent with the need to stay profitable. As a result, analysts say, the cost of legal services could continue rising; there could be a slowdown in hiring or even a loss of talent at firms geared toward the middle market; and both trends could exacerbate an already-growing compensation gap between the most profitable firms at the top of the Am Law 200 and everyone else on the list.
Despite law firm profits soaring in the last year, firm partnerships are increasingly uncertain about the future. As a result, according to new survey results, law firms are now doubling down on financial fundamentals such as pricing, clients development and talent.
Technology & Innovation:
The Next Iteration of Hybrid Work?: Immigration Boutique Launches in the Metaverse
Zoom took over in the remote work environment, and it’s here to stay in today’s increasingly hybrid landscape. Could the virtual world of the metaverse be the next iteration of this? That’s just what Washington, D.C.-based AG Immigration is betting on. The boutique law firm announced its foray into the metaverse this week, with a new office that it expects to enhance interactions with existing and potential clients around the globe.
Diversity & Inclusion:
Squire Patton Boggs makes twin hire as part of Diversity Lab’s OnRamp fellowship programme
Squire Patton Boggs has hired two female associates as part of the Diversity Lab’s OnRamp 200 Fellowship initiative to restart the careers of women lawyers who have taken extended breaks from the profession. The duo are Ayana Partee and Chrystie Swiney, who join the firm’s public and infrastructure finance practice in New York and Washington DC respectively.
Diversity Lab names eight US law firms ‘inclusion champions’ for DEI progress
Eight US law firms including Reed Smith and Morgan Lewis and thirteen individual practice groups have been named ‘inclusion champions’ by Diversity Lab for their commitment to improving diversity, equity and inclusion within their ranks in 2022. The successful firms were selected out of the 240 participating firms that signed up to Diversity Lab’s Inclusion Blueprint programme, which measures firms with a score out of 100 across four areas, namely current diversity representation based on average or above-average thresholds, year-over-year diversity representation progress, diversity representation tracking and meaningful inclusion practices and activities.
Europe’s share of the global litigation funding market is projected to reach nearly 16% of a total of $18bn by 2025, according to new research. Litigation Funding from a European Perspective, by Brussels-based litigation funder Deminor, noted that there were no precise figures for the size of the global litigation funding market but estimated that the UK contributed around $1bn to a global addressable market of around $11.2bn as of 2020.
FIFA Women’s World Cup Legal Head On Scoring the Role and the Importance of Women’s Sport
Hailing from the home of the All Blacks, New Zealand’s top-ranked men’s national rugby team, Emily Jackson’s sport of choice used to be rugby. A “groundswell of emotion” has built around women’s sport, Emily Jackson said.
Rankings: How Well Are Disabled People Represented at the UK’s Top Firms?
Disability is one of the most overlooked diversity metrics in the legal industry. But that could be set to change as the proportion of disabled people in the trainee ranks stands at over 20% at some of the largest law firms, according to research by Law.com International. The survey, which canvassed 68 of London’s largest U.K. and U.S. firm’s, asked about the proportion of disabled people in the partnership, among newly qualified lawyers with two and three years post-qualification experience, and at trainee level.
New Trend in Climate Litigation Threatens EU Emissions Curbs
Fossil Fuel companies are using a 1990s investment agreement treaty to recoup investment losses suffered as a result of governments’ plans to curb greenhouse gas emissions. NGOs have called the treaty a “climate action killer” and lawyers say it has created a regulatory chill.
The Role of Law in Driving Sustainability
We face urgent and escalating challenges testing the boundaries of our planet and upheaving social norms. These include the lasting effects of the COVID-19 pandemic, Russia’s invasion of Ukraine, and a looming global economic crisis, but also existential threats to the fabric that sustains life — our climate, biodiversity and natural systems.
Ukrainian Legal Developments:
Ukraine conflict highlights legal issues surrounding international commercial surrogacy
Recent events – including the war in Ukraine – have brought the legal and ethical issues surrounding international commercial surrogacy into sharp focus. The practice refers to the buying and selling of surrogacy arrangements, with the child’s mother receiving payment from the intended parents. An absence of coherent regulation across jurisdictions means that people seeking international commercial surrogacy services, surrogates and service providers can face difficulties, particularly if circumstances change unexpectedly.
Moves:
UK & Ireland
Four-partner Latham finance team lands at Paul Hastings in London
Paul Hastings has officially unveiled a four-partner finance team secured from Latham & Watkins in London, including Latham’s former global banking co-chair and the former co-chairs of its London finance department. Mo Nurmohamed, Ross Anderson, Karan Chopra and Rob Davidson have all joined as partners in the Los Angeles firm’s global finance practice, with Nurmohamed taking on a leadership role as co-chair of finance.
Shearman & Sterling Adds White & Case M&A Partner
Partner Michael Mountain joins the firm after a nine-year stretch at White & Case where he made partner over three years ago, according to a firm statement.
EMEA
Shearman Expands Finance Offering With White & Case Partner in Germany
International law firm Shearman & Sterling has hired White & Case finance partner Florian Ziegler in Germany, marking the firm’s fifth lateral hire in continental Europe this year.
The Americas
Sidley Snags Latin America-Focused Miami MoFo Partner, Associate
Partner Juan Delgado and associate Axel Miranda join the firm’s global M&A and private equity practice. After months of lateral hiring in South Florida, Sidley Austin formally announced its Miami office this week as it signed a lease for a large Miami office, stating that it has over 40 lawyers there.
Shearman & Sterling adds Meta leader as first diversity and inclusion chief
Loretta Pearce has joined the firm in New York following a year-long stint at Meta, parent company of Facebook, where she led the company’s diversity, equity and inclusion (DEI) global talent management programs.
King & Spalding Hires Jones Day Project Finance Partner With Latin America Expertise
King & Spalding has lured project finance partner Fradyn Suárez from Jones Day as it continues to build out its capabilities in Latin America via its Miami office.
Stroock snaps up four-partner team from restructuring boutique Luskin, Stern & Eisler
The new team join in New York and includes four partners, a senior counsel and an associate. Richard Stern leads the team and will become co-chair of Stroock’s restructuring and bankruptcy group alongside existing Stroock partner Jeffrey Lowenthal. The other Luskin partner arrivals include Matthew O’Donnell, Alex Talesnick and Stephen Hornung, with Michael Luskin joining as senior counsel and Genna Grossman as associate.
Promotions & Appointments:
Forsters elects new senior partner
Forsters has elected a new senior partner, with property litigator Natasha Rees taking the top job.
Law Firm HSF Refreshes Paris Leadership, Names Managing Partner
Herbert Smith Freehills has refreshed its leadership in Paris, naming a new managing partner and four new partners to the management board of the office. Régis Oréal, a banking and finance partner since 2006, has been named managing partner for a three-year term beginning July 1.
DLA Piper vice chair takes up strategic role amid US leadership shake up
DLA Piper has shaken up its US leadership team by handing vice chair Joe Alexander a new position as Advisor to the Chair. In his new role, Miami-based Alexander, who led the transactions team as vice chair and also sits on DLA Piper’s global board, will advise Americas chair Frank Ryan on the firm’s financial performance, competitive position and strategic priorities.
‘A Proper Office in its Own Right’: Latham’s London Operation Comes Of Age
2022 is turning out to be a significant year for Latham & Watkins’s London office. Not only has it become the largest U.S.-headquartered law firm in London by headcount and revenue, but perhaps just as significantly the U.K. operation has promoted several lawyers to partner who had joined the firm as trainees.
Office Openings & Closing:
Australian NewLaw outfit Law Squared launches first international base in London
The office will work with Australian businesses in the UK and UK businesses with a presence in Australia as they expand to have dual jurisdictional advice, the firm said. Commercial lawyer Alexandra Geelan has relocated from Law Squared’s Brisbane office to lead the new base, which will cover market entry, corporate, employment and commercial matters, as well as legal operations and technology consulting.
Pallas Partners hires Boies Schiller partner in New York to lead surprise US launch
Pallas Partners, the litigation boutique founded by former Boies Schiller Flexner deputy chair Natasha Harrison, is opening an office in New York just five months after launching its home base in London. Harrison’s firm has secured yet another Boies Schiller partner to get the job done, this time turning to trial lawyer Duane Loft to lead the newest office. The move into Boies Schiller’s home territory has raised some eyebrows within London’s litigation community given Pallas Partners’ statement at the time of its launch that it would co-counsel with Boies Schiller on some cases.
Gunderson Dettmer bolsters LatAm practice with Brazil office launch
Silicon Valley law firm Gunderson Dettmer Stough Villeneuve Franklin & Hachigian has opened in São Paulo, its first office in Latin America. The new office launch is being led by corporate partners Brian Hutchings, Adan Muller and Christel Moreno, giving the firm a hub for its existing Latin America practice on the ground in the region. The firm has represented Latin America-based companies in almost $4bn of M&A deals since 2014, most recently working on the acquisition of banking tech provider Technisys by SoFi. The practice has also handled more than 600 cross-border venture and growth equity financings in the region since 2017.
Financials:
Eversheds’ PEP jumps to break £1m
Partners in Eversheds Sutherland’s International LLP saw profit per equity partner (PEP) soar by 26 per cent last year to a record level of £1.24m. Net profits at the firm grew by a similar level, rising 23 per cent to £150.3m from the previous year’s £122.2m. Turnover also rose 8 per cent to £678.4m from £628.1m.
DWF’s revenue inches up 4 per cent
Listed law firm DWF has reported revenue growth of 4 per cent to £416.1m for 2021/22, while net profit rose by nearly a quarter. While figures are on the up, the rate of growth has slowed. In 2020/21, DWF’s revenue grew by 14 per cent to £338m from £297m.
CMS’ global revenue soars by 18 per cent
CMS’ global revenue grew by 18 per cent for the 2021 calendar year, an improvement from the 3 per cent increase it witnessed the year before. The figures stand at €1.746bn, a rise from 2020’s global revenue of €1.475bn.
Ashurst reveals double-digit growth ahead of strategy refresh
Revenue has grown from £711m to £798m, while average profit per equity partner (PEP) was up by a slightly larger percentage of 13 per cent. PEP has now reached £1.175m from £1.038m in the previous financial year.
Latham associates set for pay uplift after conversion switch
Associates at the firm are paid in US dollars and it is understood they will now be paid on the exchange rate of £1 to $1.31. Prior to this, the ratio was set at £1 to $1.45. Latham sets this based on a five-year average. The changes mean that associates in London will pick up more than before. For instance, Latham NQs will now pick up £163,997 instead of £148,276
Clifford Chance’s PEP hits £2m mark for first time
Clifford Chance’s turnover increased to the tune of 8 per cent over 2021/22, as average profit per equity partner (PEP) broke through the £2m barrier for the first time. Revenue grew from £1.828bn to £1.969bn following sluggish growth of 1 per cent recorded over the previous financial year. Meanwhile, PEP rose 10 per cent to £2.04m while the partnership profit increased 9 per cent to £783m.
Shoosmiths to pay staff £1,000 to help with cost of living
Shoosmiths has released a set of positive financial results for 2021/22, while announcing it will also hand out an additional £1,000 cost of living payment in September. Revealing its financials, Shoosmiths said its average profit per equity partner (PEP) has hit £675,000 for the year 2021/2022, a further 3 per cent increase on the firm’s 41 per cent rise witnessed for 2020/21. The firm’s revenue also rose 8 per cent to £181.8m and net profit increased by 9 per cent year-on-year to £60.7m.
RPC’s PEP drops after previous bumper year
RPC grew its global turnover by 10 per cent over 2021/22, while average profit per equity partner (PEP) fell to £571,000 after a 49.5 per cent rise in the previous financial year. PEP dropped from £634,000 to £571,000, while turnover increased from £136m to £149.4m.
Bird & Bird sees PEP rise by 11 per cent
Bird & Bird has announced nearly a 10 per cent increase in its sterling revenue for the 2021/22 financial year, up from 5.6 per cent the previous year. For 2020/21, the firm recorded £405.6m (€455m) in global revenue. The current figure stands at £445.6m (€525.3m).
Mishcon’s profits bounce back as revenue jumps 22% to £230.7m
Revenue at Mishcon de Reya jumped 22% to £230m in the year to 9 April 2022, as profit per equity partner (PEP) returned to pre-Covid levels at £1.05m.
Technology & Innovation:
The Netherlands’ Unusual Take on GDPR Sparked Criticism. But Could It Catch On?
The Netherlands’ data protection authority’s strict interpretation of the GDPR’s “legitimate interest” ground for processing data has sparked a wave of criticism from privacy law professionals, local courts and even the European Commission. While privacy law professionals don’t believe the Dutch interpretation is likely to catch on in other EU nations, what happened in the Netherlands underscores the tensions between local DPAs and the European Commission on interpretations of the GDPR, which will likely prompt more guidance to come out in the near future.
Diversity & Inclusion:
Freshfields, HSF underscore racial diversity commitments with latest sponsorship schemes
Freshfields Bruckhaus Deringer and Herbert Smith Freehills have both announced their latest programmes to support racial diversity and justice. Freshfields has admitted 16 new scholars to its Stephen Lawrence Scholarship Scheme. The scheme is designed to address the under-representation of black men from less socially mobile backgrounds in large commercial law firms and other City institutions.
Slaughter & May To Let Dogs Back In ‘Bring Your Dog To Work Day’ Success
Finkler, who took up her position on May 1, said that “the benefits of all animals and especially dogs to mental health, morale and alleviating stress are widely recognised”. Her approach comes as unprecedented workloads and inflated salaries are increasingly cited as being behind worsening mental health in the legal industry, specifically younger professionals. Often viewed as a conservative outfit, Slaughters has shifted its approach in recent years. In 2021, the firm introduced diversity targets for the first time in a bid to improve matters in the coming years. Since the post-Covid return to the office, it has also allowed the “majority” of its London and Brussels based lawyers the opportunity to work remotely 40% of the time.
Cooley Law Firm London Partners Rally Lawyers to Denounce Roe v Wade Reversal
Two London Cooley partners are leading a call for lawyers at. U.S. firms in London to act in the wake of the reversal of Roe v. Wade. The open letter, circulated by London partners Sascha Grimm and Natasha Kaye, mirrors a similar open letter signed by U.S female partners in support of women’s rights.
From Kabul to Calgary: An Afghan Law Student’s Dangerous Journey
Following a harrowing year that included the “most difficult” 24 hours of her life, Afghan law student Shakira Yazdani arrived in Canada on Canada Day to a rousing welcome from students at the University of Calgary Law School, where she will be studying to get her J.D. Among the more than 100,000 Afghans who applied for evacuation as the Taliban took control of Afghanistan in August 2021, Yazdani is a lucky one. Thousands are still trapped and seeking legal advice, advocates say.
Ukrainian Legal Developments:
A&O Latest Firm to Relocate Moscow People To Dubai
Allen & Overy is the latest firm to relocate its Russian lawyers to Dubai following the winding down of its operations in Moscow. Its Moscow base had comprised 55 people, including 24 lawyers, before the firm announced its intention to close in early March following the Russian invasion of Ukraine. A person with knowledge of the situation said that the Russia lawyers would most likely be based in the firm’s office in the Dubai International Financial centre, rather than the firm opting to open a separate base to house them. In response to the Russian invasion of Ukraine, all 25 large international firms with Russian bases had ceased operations in the region by mid-March.
Moves:
UK & Ireland
RPC hires from Dentons for new GC role
RPC has hired Dentons’ deputy general counsel as its first-ever in-house legal chief. Reshma Raja has joined RPC as its general counsel.
Paul Hastings Anticipates ‘Large and Exponential Effect’ From Latham Lateral Team
Paul Hastings has high ambitions for the four-partner finance team the firm lured from Latham & Watkins in London this month, noting on Monday that the group “brings key lending relationships with virtually every major investment bank and private credit institution.”
Macfarlanes Hires Akin Gump Tax Partner
Sophie Donnithorne-Tait joins Macfarlanes from Akin Gump where she had been a partner for the past five years, according to a statement by Macfarlanes on Monday.
EMEA
Arbitration services business Arbitra adds four new members
The new members include Adrian Cole, Dmitri Evseev, Dana MacGrath and Eun Young Park, all previously partners at major international law firms including King & Spalding, Arnold & Porter, Sidley Austin and Kim & Chang.
Eversheds Sutherland Adds Real Estate Partner in Munich
Eversheds Sutherland has hired an experienced real estate partner to its Munich office. Stefan Fink joins the firm from Advant Beiten, according to a firm release, an appointment driven by a growing demand for a greater focus on ESG matters, including changing work patterns in a post-pandemic environment which have driven an increase in real estate advice needed from clients.
Norton Rose Fulbright Bolsters Brussels Ranks with White & Case Partner
Joining Norton Rose this month, Alexandra Rogers joined White & Case as an associate in 2008 and was promoted to local partner in 2017, according to her LinkedIn profile.
The Americas
Linklaters adds two structured finance partners from Alston & Bird in New York
Linklaters has hired two structured finance partners in New York from Alston & Bird to bolster its US capital markets practice. The duo, Joseph Gambino and Peter Williams, are joined by senior associate Elizabeth Walker.
Rimon PC partner trio exit firm to launch Silicon Valley IP boutique
Three Rimon PC partners have left the firm to launch KXT Law, a six-lawyer commercial litigation and intellectual property boutique in Silicon Valley. Karineh Khachatourian, David Xue and Amir Tabarrok are spearheading the venture with three more lawyers and three support staff.
Despite M&A Slowdown, Big Firms Like Latham Continue Growing Corporate Bench
Despite an industry-wide slowdown in M&A and a broader macroeconomic malaise, the biggest and most profitable law firms are still “full-speed ahead” on hiring transactional talent. That includes Latham & Watkins, which, through the first two quarters of the year, has announced several hires in the corporate and M&A space, with a particular focus on investment funds, insurance transactions and private equity. The hires have often been in the biggest markets, including New York, Washington, D.C., and Silicon Valley, and from rivals such as Kirkland & Ellis, Clifford Chance and Willkie Farr & Gallagher.
Linklaters Rebuilds New York Base With 3-Strong Structured Finance Team
Linklaters is looking to replenish its bench in New York with the hire of Peter Williams, Elizabeth Walker, and Joseph Gambino from Alston & Bird.
Promotions & Appointments:
Clifford Chance reshuffles leadership team after election
Clifford Chance has added five new members to its leadership team, including a global head of corporate from its US offices and an inaugural operations and business transformation partner.
Pinsents crowns new senior partner
Pinsent Masons has elected a new senior partner, as the incumbent Richard Foley stands down after eight years. The firm has named Andrew Masraf as Foley’s successor. Masraf is a private equity lawyer, who joined Pinsents as a trainee in 1993.
Baker McKenzie refreshes practice and industry group leaders across global business
Baker McKenzie has refreshed its global practice group and industry leadership teams, as well as extended the terms of three group chairs. Four areas have seen new appointments: the global technology, media and telecoms industry group, the global industrials, manufacturing and transportation industry group, the global capital markets group, and the energy, mining and infrastructure group.
Norton Rose Fulbright rings Brussels changes with new office head and White & Case partner hire
Norton Rose Fulbright (NRF) has hired a partner from White & Case in Brussels and appointed a new office head – Miranda Cole – on predecessor Jay Modrall’s retirement from the partnership.
Skadden names next global transactions head after death of Scott Simpson
Skadden Arps Meagher & Flom has named corporate partner Lorenzo Corte head of its global transactions group after the passing of Scott Simpson in May.
Mergers & Alliances:
Clydes needed BLM more than you think
“I acted for a client 20-odd years ago that went from 50 firms on its panel to 12, and we thought that was absolutely revolutionary,” says BLM’s legacy senior partner Matthew Harrington. “Now clients are looking at panel sizes, certainly in the general insurance market, of two to three firms.”
Cooley completes merger with HK associate firm
US firm Cooley will operate as a single entity in Hong Kong having completed the required three-year association period with local firm CYL & Partners. The combined entity will operate as Cooley HK and will be led by former Skadden corporate partner Will Cai. Cooley said the move was completed on 30 June and had always been part of the firm’s plans since entering Hong Kong in 2019.
Womble Bond Dickinson expands US platform with San Francisco tie-up
Womble Bond Dickinson is set to launch in San Francisco through a tie-up with regional firm Cooper White & Cooper. The move adds 17 lawyers including 11 partners to Womble Bond’s California network, which currently consists of offices in Los Angeles, Palo Alto and Irvine, and will bring the firm’s lawyer headcount in the state to more than 50.
Office Openings & Closing:
Kennedys Opens 4th Australian Office
The insurance leader is opening a base in Brisbane and expects strong growth in investment and industry in Queensland.
Slater and Gordon Opens London Office After Permanently Closing City Base During Pandemic
U.K. top 50 firm Slater and Gordon has opened an office in London, located at Chancery Lane, despite stating in May 2020 that it was shuttering its High Holborn City base and all 200 London employees would work from home permanently.
Financials:
Latham Becomes Largest US Firm In London By Headcount And Revenue
Latham & Watkins has overtaken long-term leader Baker McKenzie to become the largest U.S.-centered law firm in London by headcount. Latham now has around 550 lawyers in its London office, including 122 partners, according to a firm spokesperson, putting it ahead of last year’s leader Baker McKenzie, which has approximately 525.
A&O’s US gamble pays off as revenue hits new heights
Allen & Overy’s turnover jumped 10 per cent over 2021/22, while average profit per equity partner (PEP) was just short of the £2m mark. The firm is the first of the magic circle to report, also making it the largest outfit to declare its numbers so far. Revenue rose from £1.77bn to £1.94bn, as profits grew by a similar percentage from £822m to £900m.
TLT hits revenue target three years early
TLT’s revenue has increased by 31 per cent over 2021/22, enabling it to hit a target set for 2025. Turnover leapt from £110m to £144m. This means the firm has reached its target of hitting £140m in revenue by 2025 – part of its four-year firmwide strategy launched in 2021 – three years early.
HSF’s new strategy bears fruit as PEP rises 6 per cent
Average profit per equity partner rose 6 per cent at Herbert Smith Freehills, the firm’s first financial results since the unveiling of its new strategy. Profits increased 4 per cent from £366.9m to £381.2m, while both revenue and profit per equity partner (PEP) were up 6 per cent each. Turnover reached £1.103bn with PEP at £1.16m.
Financials 2021/22: Simmons’ PEP reaches £1m
Simmons & Simmons’ average profit per equity partner (PEP) has broken the £1m barrier, having increased 2 per cent from £979,000 to £1.002m over the past financial year. Meanwhile, total revenue grew 6 per cent from £437m to £465m, and profit rose 8 per cent from £170.9m to £185m over 2021/22.
BBC’s highest-paid report reveals top in-house salaries
The BBC has released its highest-paid earners for 2021/22, identifying six lawyers within the top payment brackets.
Knights’ Top Earner Pay Increases Fivefold as Acquisitions Fuel Growth
The firm, however, reported minimal organic growth, climbing net debt and ebbing profits amid a share price slump, which it attributed to the pandemic.
Baker McKenzie Ups NQ Pay For 2nd Time In Under A Year, But Holds Trainee Rates
Baker McKenzie has increased its newly qualified lawyer base pay by 4.7% from £105,000 to £110,000, effective from July 1.
Technology & Innovation:
Gleiss Lutz opens office in the Metaverse
Gleiss Lutz has become the first German law firm to secure a land site in Decentraland to open an office in the Metaverse. The office will be led by Stuttgart partner Eric Wagner, who co-leads the firm’s legal tech department.
The Global Legal Post launches online anti-counterfeiting comparative law guide
The Global Legal Post today launches a comparative jurisdictional guide to help brands combat counterfeiting as trade in fake goods continues to proliferate. The online resource, under the Law Over Borders brand, is edited by Lorne M. Lipkus, founding partner at Toronto firm Kestenberg Siegal Lipkus and an expert on all aspects of anti-counterfeiting enforcement throughout Canada.
Singapore’s TechLaw.Fest returns for metaverse themed three-day hybrid conference
Global Legal Post is a media sponsor for the three-day legal and tech conference, which is run by the Singapore Academy of Law (SAL) and starts on 20 July. The first day will take place at the iconic Marina Bay Sands hotel for a virtual reality metaverse exhibition, followed by a two-day online conference to discuss the implications of the metaverse and web 3.0 trends such as blockchain and 5G technology on the legal industry.
Twitter vs Musk Epitomizes the Legal Industry’s Next Chapter
The Global Lawyer: A notable rise in a variety of disputes appears to signal the start of a new economic cycle for large law firms.
Check Your Wallet: UK High Court Green Lights Service By NFTs
The U.K. High Court has permitted a claimant to serve court proceedings via an NFT on the blockchain in a ruling with potentially far-reaching implications. The order, which was granted on 24 June but only made public this week, allowed an Italian businessman to serve proceedings on ‘persons unknown’ by way of a non-fungible token drop to two wallets into which he had initially deposited cryptocurrency.
Diversity & Inclusion:
Partnership And Motherhood? An Old Debate Resurfaces
While the issue is not new, it has been thrust into the spotlight again courtesy of Clifford Chance corporate partner Katherine Moir thanks to her personal recount of how she balances being a mother with her job on LinkedIn recently. With her attention-grabbing headline of: “YOU CAN BE A LAW FIRM PARTNER AND BE A HANDS ON PARENT,” Moir, who has been a partner at Clifford Chance since 2016, shared her thoughts in an honest post.
Law firm Clifford Chance doles out bonuses as cost of living bonuses
Clifford Chance has become the latest law firm to hand its junior people in London a bonus, as the cost of living soars in the U.K. The firm has handed out lump sums of £1500 to its trainees and business services professionals, taking into account the current financial environment in the U.K.
Four Law Firms Finalising Ethics, ESG Policies
A variety of law firms are drawing up ethics and ESG policies as they attempt to navigate an increasingly politicised business environment. Simmons & Simmons, Hill Dickinson, CMS and Katten Muchin Rosenman are finalising policies and frameworks to assess incoming client matters against firm values and ESG agendas.
Ukrainian Legal Developments:
Building a better Ukraine: Rule of law is essential for post-war prosperity
At the conclusion of the first Ukraine Recovery Conference in Switzerland on July 4-5, representatives of 42 donor countries and five international organizations issued the Lugano Declaration. This document identified seven Lugano Principles for the rebuilding of Ukraine. The third principle stressed the central importance of legal system reform. “The recovery process has to be transparent and accountable to the people of Ukraine. The rule of law must be systematically strengthened and corruption eradicated,” it stated.
Ukrainian Legal Developments:
Ukraine Bar Association opens to foreign members
The Ukrainian Bar Association (UBA) has opened its membership to foreign lawyers to raise new sources of income to support its work following Russia’s invasion. By paying an annual €200 (£171) fee, the association says UK lawyers, and others, can apply to become international participants. International members will receive regular updates in English on UBA activities and documents, including those related to legal actions undertaken in support of Ukraine’s efforts to find legal redress against Russia, as well as access to information in sourcing referral work to Ukrainian lawyers and opportunities to find partners in Ukraine.
Funding Ukraine’s recovery with Russian riches causes legal headache
Ukraine will fund the bulk of its post-war recovery with wealth that Western powers are confiscating from Russia’s oligarchs, according to its prime minister. But for some of Kyiv’s allies — such as Switzerland — that’s easier said than done. “The right of ownership, the right of property is a fundamental right,” Switzerland’s president, Ignazio Cassis, said during a press conference Tuesday alongside Prime Minister Denys Shmyhal after two days of high-level talks about Ukraine’s reconstruction in the Swiss city of Lugano. “Of course, we can violate fundamental law. But we have to create the legal base.”
Moves:
UK & Ireland
TLT hires Konexo’s former legal services head to lead its managed services business
Legaltech veteran Jonathan Townend joins TLT as an operations board member and will be based in London.
Sidley Austin boosts London private equity practice with Proskauer partner hire
Sidley Austin has hired private equity and M&A lawyer Tony Downes from Proskauer to strengthen its London private equity practice.
Deloitte Legal Partnership Adds One, Loses One In London
Big Four firm Deloitte Legal has hired a financial services partner in London, but has lost technology partner Tania Williams to U.K. firm RPC. Clare Jenkinson is joining Deloitte from HSBC, a Deloitte statement said on Monday
Latham Global Banking Vice Chair Leads Four-Partner Team Move to Paul Hastings in London
A four-strong senior Latham & Watkins finance team, led by the firm’s global co-chair of banking, has left for U.S.-headquartered rival Paul Hastings in London. The team, consisting of partners Ross Anderson, Mo Nurmohamed, Karan Chopra and Rob Davidson have made the move, according to a person with knowledge of the situation.
EMEA
Cohen & Gresser Trio Joins Paris Law Firm, Launches Tech Practice
Independent French firm Ayache Société d’Avocats has created a technology department in Paris with a three-lawyer, partner-led hire from Cohen & Gresser. Guillaume Seligmann joins Ayache as a partner and head of the new department.
Clyde & Co Hires Cliffe Dekker Hofmeyr’s Former Cape Town Head
Clyde & Co has hired Cliffe Dekker Hofmeyr’s former Cape Town managing partner. M&A partner Gasant Orrie joins Clyde’s Cape Town office and will support clients across South Africa and the wider African continent, according to the firm’s announcement.
Dentons Boosts Milan Banking Practice With McDermott Double Hire
Pierandrea Bonali joins the firm after five years at McDermott, where he made partner in in Milan in 2020.
Fieldfisher Bolsters Employment Practice in Paris With Hires From French Boutique
Julia Mohamed joins as a partner from the French boutique firm Marvell Avocats, where she practiced for eight years, rising to partner.
The Americas
Spain’s Cuatrecasas pushes LatAm platform with partner hires in Peru and Mexico
Diego Carrión has joined the Barcelona-based firm’s M&A practice in Lima from Peruvian law firm Hernandez & Cia., while Juan David Mina has moved over to the firm’s tax practice in Mexico City. Mina was previously a partner at KPMG and left the company in April, according to his Linkedin profile.
A Magic Circle for Brazil? Lefosse Aims to Be the Local Firm of Choice
Over the course of the past year, Lefosse has lured partners from crosstown rivals to strengthen its capabilities in restructuring, dispute resolution, infrastructure, tax, life science and health care, and antitrust matters—while also opening an office in the Brazilian capital, Brasília.
Top Mexican Corporate Firm Creel Adds 2 Arbitrators
Elsa Ortega and Sofía Gómez Ruano will be closing their eponymous dispute resolution boutique to join Creel. Ortega will lead Creel’s arbitration and dispute resolution practice, with the support and guidance of Counsel Judge Bernardo Sepúlveda.
On the Move: Tracking the Ins and Outs of California Lawyers
New hires, promotions and awards from across the California legal market.
APAC
Han Kun Fuels Exponential Expansion With Partner Hires, Mergers and New Offices
Han Kun’s latest coup is Fangda’s intellectual property partner, Song Haining, who has joined the firm in Shanghai. Notably, Song is the third IP partner to leave Fangda this year. King & Wood Mallesons took a team of IP litigation experts from the firm in Beijing last month, including veteran partner Gordon Gao and partner Sherry Yao.
Norton Rose Australian Exits Continue to Mount
Partners continue to depart Norton Rose Fulbright in Australian, with energy partner Jo Crew leaving to join King & Wood Mallesons.
Australia’s Clayton Utz Poaches Digital and Data Specialist From Ashurst
Robert Dearn, who was previously an associate at Ashurst, joins Clayton Utz’s public-sector practice in Canberra.
In-House
Longtime BT Technology General Counsel Exits
Chris Fowler, who was most recently general counsel for technology at the telecoms giant, announced his departure on a post on LinkedIn on Thursday, where he thanked BT group general counsel Sabine Chalmers for a “focus on performance, engagement and fun”.
Simpson Thacher partner joins KKR as new GC
New York-based Kathryn King Sudol has joined as its new general counsel from Simpson Thacher & Bartlett, where she was global co-head of M&A.
Promotions & Appointments:
King & Spalding names new managing partners in Singapore and Frankfurt
Tax partner Axel Schilder is to steer the Atlanta firm’s sole German office as the next managing partner of its office in Frankfurt while finance and restructuring partner Andrew Brereton has been named office managing partner in Singapore.
Withers adds seven new partners in London-focused round
Top 30 UK law firm Withers has promoted seven lawyers to partner from across its private client, business and dispute resolution teams. This cohort includes two women, or 29% percent of the total, an increase on last year’s round which only featured one woman.
Top EU Court Makes Osborne Clarke Partner a Judge
The current head of Osborne Clarke’s EU law practice has been appointed to serve as a judge at the Luxembourg-based Court of Justice of the European Union, one of the EU’s highest courts. Steven Verschuur will take up his six-year mandate at the General Court, which serves as a court of first instance for EU law matters, in September. His appointment was announced on Wednesday.
Has Baker McKenzie Won Over Thailand?
Last week, Baker McKenzie announced the promotion of eight partners in its Bangkok office. Of all the firm’s far-flung offices around the world, only Singapore saw more lawyers promoted (nine). And this year’s promotions followed those of last year, when Baker McKenzie promoted another eight lawyers in Thailand.
Bird & Bird to Hand Cost of Living Bonus to Trainees, Staff
Top 50 U.K. law firm Bird & Bird is to pay out a bonus to some of its U.K. staff as the cost of living spirals. The firm will hand out a one-off payment in July to those with a salary of £50,000 and below which will amount to £1,000, after tax and national insurance payments have been made.
Mergers & Alliances:
Fieldfisher and Osborne Clarke were right to walk away
Happy tenth anniversary to the two mergers that never were. In 2012, Field Fisher Waterhouse was close to securing a deal with Lawrence Graham that, on collapse, led to its second tie-up attempt of the year with Osborne Clarke. A decade on and Lawrence Graham has morphed into something entirely different, on account of a national merger with Wragge & Co followed by a Canadian deal with Gowlings. Osborne Clarke and Fieldfisher meanwhile have mirrored each other, whether they wanted to or not.
Office Openings & Closing:
London legal consultancy Prosperant helps launch new Hong Kong barristers set
Opening a new chambers is rare in Hong Kong’s legal market, with the Bar traditionally being more conservative in launching new ventures compared to local law firms. The 24-member set – large by Hong Kong standards – provides legal services to Hong Kong and the Greater Bay region of mainland China. The set’s members work in chancery law, complex financial and securities disputes, arbitration and regulatory disputes, among other areas. Rede’s members all formerly practised at Sir Oswald Cheung’s Chambers.
Pinsent Masons secures 23-strong team from local firm for Luxembourg launch
Pinsent Masons has launched in Luxembourg with a team of 23 lawyers from local independent Wildgen, which has now disbanded. The deal will see Pinsent Masons add seven new partners and 16 other lawyers, with the Luxembourg office focusing primarily on the financial services sector. The new office – Pinsent Mason’s seventh in Continental Europe – will be headed by former Wildgen partner Michel Bulach and serve corporate and investment fund clients in Ireland, Germany, Luxembourg, Spain, the Netherlands, France and the UK.
Kim & Chang’s veteran partner and co-founder of its international arbitration practice, Eun Young Park, has retired from the Big Six South Korean firm, to set up his own practice, Park Arbitration Chambers.
Womble Bond Dickinson hires corporate partner, launches 21st US office in Nashville
Womble Bond Dickinson has hired a lawyer from the Tennessee Department of Economic and Community Development (TNECD) as the fourth partner based in its Nashville office, which opened last month as the firm’s 21st office in the US and 28th internationally. Masami Izumida Tyson joins Womble Bond’s Nashville office as a partner in the firm’s corporate and securities practice after three years as TNECD’s global director of foreign direct investment and trade.
Financials:
Financials 2021/22: Bevan Brittan opens door to acquisitions after positive growth
Bevan Brittan has declared itself open to acquisitions after breaking the £60m revenue barrier for the first time. Turnover is up 7.2 per cent from £56.1m to £60.8m, while net profit has climbed by 6.6 per cent to £15.7m. It marks nine years of consecutive revenue and net profit growth for Bevan Brittan, which says it is now financially strong enough to move into the next phase of development.
Financials 2021/22: Pinsents regains ground with 16 per cent PEP rise
Pinsent Masons has reported single-digit percentage growth in its revenue, while PEP surged ahead yet again after two consecutive drops in 2019 and 2020. Turnover rose for the tenth year in a row, up 6 per cent to £531.1m in 2021/22. Elsewhere, its profit per equity partner (PEP) witnessed double-digit growth of 16 per cent. This is the second consecutive year PEP has jumped by that amount. Results show PEP reached £739,000, which is up from £636,000 in 2020/21.
Taylor Wessing dishes out 5 per cent profit share to staff
Taylor Wessing’s UK profit grew 32 per cent for the 2021/22 financial year, resulting in staff being offered a 5 per cent share based on salaries. The bonus will be given in addition to annual performance bonus payments of up to 30 per cent.
Financials 2021/22: Brodies closes in on £100m mark
Brodies’ revenue increased from £82.5m to £98.5m, a rise of 19.5 per cent. Alongside this, operating profit rose by 18 per cent from £39m to £46.1m.
UK Government’s legal spend revealed for 2021/22
Nearly half of The Lawyer’s UK Top 50 firms picked up fees from the UK Government over 2021/22, according to a Freedom of Information request. The UK Government Legal Department spent a total of £36.57m on external legal services over the financial year 2021/22. Given there are 52 weeks in a year, this equates to £703,295 spent per week.
Facing a Potential Recession, Big Law Is More Adept at Weathering a Crisis
Analysts say firms overall are better equipped financially to handle a recession now than they were going into the Financial Crisis of 2008 due to a number of factors, including maintaining lower levels of bank debt and raising more capital from partners. They’ve also become more agile—and confident—after the last two years of the pandemic.
Technology & Innovation:
Canada’s New AI Regulation Echoes EU Approach, Signaling Broader EU Influence
About a year after the European Union proposed regulations governing the use of artificial intelligence, Canada is now, too, proposing its first-ever private sector regulation of AI. Similarities between the two regulations reveal the influence the EU’s AI act will likely have on other jurisdictions looking to rein in AI.
Diversity & Inclusion:
Reed Smith is launching a dedicated environmental, social and governance (ESG) practice to help clients navigate what it describes as ‘a persisting lack of global convergence on ESG regulations, principles, initiatives and reporting standards’. The new practice brings together around 60 lawyers across the firm’s 30 offices. As part of the ESG practice, lawyers will support clients facing intensifying compliance and stakeholder obligations related to transactional, corporate, regulatory and disputes matters, among others.
Top EU Court Escalates Climate Case in Move Signaling Its Importance
The European Court of Human Rights has referred a climate case brought by six young people to its top-tier panel in a move that those involved in the case describe as “highly exceptional.” The decision, which was announced last week, means that the case challenging 33 countries’ climate policies will be heard by the 17-judge Grand Chamber of Europe’s highest human rights court.
Roe v Wade Reversal Could Slow Abortion Liberalisation in Africa, Lawyers Say
Among Africa’s 54 countries, only four have liberalized abortion laws: South Africa, Mozambique, Cape Verde, and Tunisia. Across the rest of the continent levels of abortion restrictions vary considerably. In Nigeria, for instance, procuring an abortion can get a person jailed for 14-years, according to Dayo Okusami, partner at Templars in Lagos.
Law firm Hogan Lovells shakes up training, reviews and secondments
Hogan Lovells is seeking to more clearly define opportunities for career progression and training within its ranks, as junior talent in the industry becomes more discerning about what they want their careers and employers to look like. The firm’s U.K.-based deputy CEO Michael Davison and Washington D.C. partner Douglas Fellman have spent the last year overseeing a process to update the firm’s appraisal system, working with a focus group of around 15 associates from across the firm.
Women outnumber men in the legal profession in the Australian state of New South Wales but are paid less, according to a survey commissioned by the state Law Society. The ”2021 Annual Profile of Solicitors NSW” provides a snapshot of the legal profession in New South Wales, Australia’s most populous state, and reveals that 37,186 solicitors are admitted to practice. Of those, 19,917 are female and 17,269 males.
Fried Frank joins Shearman in offering summer remote working
Fried Frank Harris Shriver & Jacobson is the latest firm to tell lawyers and business services professionals that they have the option to work remotely throughout August. The firm said that attendance in the office will be optional during that time, with offices remaining open for those who wish to work from there. “We hope that this will allow everyone to enjoy greater flexibility and a break from commuting as the summer comes to a close”, the firm added.
Asim Rehman, whose experience in the public sector includes a stint as general counsel for the government watchdog for the New York City Police Department, was recognized as the city’s chief administrative law judge on July 6 in a formal swearing-in ceremony.
SIU Law, Governors State University Join Forces to Create New Diversity-Minded Pathway to JD Degree
“We know that the number one barrier to degree completion is financial, and this partnership was created with that in mind,” GSU President Cheryl Green said.
Ukrainian Legal Developments:
3 Am Law 50 Firms Continue to Struggle to Withdraw From Representing Sanctioned Russian Banks
Three Big Law firms representing Russian banks sanctioned following Russia’s invasion of Ukraine—White & Case, Debevoise & Plimpton, and Latham & Watkins—have been trying to withdraw as counsel for months now, but it’s proving not to be so easy. White & Case and Debevoise & Plimpton were granted permission to withdraw provided that substitute counsel file a notice of appearance by June 24. But, on that date, William H. Taft of Debevoise & Plimpton and Nicole Erb of White & Case jointly submitted a letter to Judge Gabriel W. Gorenstein stating that new counsel would be unable to appear on behalf of their client, Sberbank.
Quinn Emanuel Begins to File Claims Against Russia on Behalf of Ukraine
When Quinn Emanuel Urquhart & Sullivan filed an $80 billion claim against Russia on behalf of Ukraine at the European Court of Human Rights in Strasbourg last week, it was just getting started. “We will be filing further submissions with the court to demonstrate Russia’s ongoing violations,” said Hughes-Jennett, who is leading the Quinn team along with partner Alex Gerbi.
BCLP Russia Managing Partner Stays At The Law Firm, Relocates To London
Bryan Cave Leighton Paisner’s Russia managing partner Andrey Goltsblat has relocated to the firm’s London office, as law firms’ continue to deal with the fallout of shuttering their operations in Moscow and St. Petersburg. Corporate partner Goltsblat held the role of BCLP Russia managing partner for over 13 years, according to his LinkedIn, and had been based in Moscow.
Baker McKenzie pledged in March to spin off its Moscow and St. Petersburg offices in the wake of the Russian invasion of Ukraine, but the slow pace of disentangling these operations enabled a partner to present under the firm’s name Wednesday at an international legal conference in St. Petersburg that featured a welcome message from Russian President Vladimir Putin.
Moves:
UK & Ireland
Kirkland makes double funds hire
Charles Cooper-Isow joins from Fried Frank while Wilson Szet joins from Simpson Thacher.
White & Case finance partner exits for Shearman
Shameer Shah joins Shearman & Sterling from White & Case as a partner in the leveraged finance practice.
Linklaters London Leveraged Finance Partner Heads to US Firm
Willkie Farr & Gallagher has added Linklaters partner Daniel Gendron to its finance practice according to a press release from the firm on Thursday. Gendron had been a partner at Linklaters since 2013 according to his Linkedin profile. He was previously an associate at Borden Ladner Gervais.
Milbank London Partner, Counsel Leave For Gibson Dunn
Technology partner Joel Harrison and special counsel Alison Beal have joined Gibson Dunn, according to a statement on Monday.
EMEA
BCLP secures real estate and insolvency partner quartet in Frankfurt from DLA Piper
Dr Torsten Pokropp, Frank Schwem, Christian Lonquich and Mike Danielewsky will join BCLP at the start of next month and bring experience in real estate finance, real estate and insolvency and restructuring.
The Americas
Morgan Lewis expands in Seattle with arrival of 14 litigators from Calfo Eakes
The new recruits include prominent trial lawyers Patty Eakes and Angelo Calfo, who join as partners and will co-lead the Seattle office. In total the new office will be home to a team of 34, including 19 lawyers supplemented by existing Morgan Lewis attorneys who were already working remotely in Seattle.
A&O New York Finance Partner Exits After Less Than 3 Years
Jin Hee Kim, who joined A&O in 2019, has moved to Gibson, Dunn & Crutcher. She left A&O in May, according to her LinkedIn profile.
Linklaters’ US Cyber Co-Chair Jumps to Debevoise
Erez Liebermann is joining Debevoise’s New York office a little more than a year after he moved to Linklaters as part of the firm’s launch of a U.S. data and privacy group.
Osler Brings in Duo to Co-Chair New Digital Assets and Blockchain Practice
Osler, Hoskin & Harcourt brought in two new partners to spearhead its burgeoning digital assets and blockchain practice. Matthew Burgoyne and Laure Fouin will be co-chairs of the group, which will be part of the Canadian firm’s corporate and emerging high-growth teams.
APAC
EY Lawyers Lead 10-Person Team Return To Dentons in Singapore
Evelyn Ang and Glenda Lee, both former Dentons Rodyk corporate partners, are returning to Dentons alongside EY partner Emily Low, a statement on Thursday said.
A&O Takes Two Corporate Heavy Hitters from Linklaters Hong Kong
Linklaters’ Hong Kong head of corporate Gilbert Li and partner Iris Yeung have moved to Allen & Overy.
Second Norton Rose Fulbright Australian Partner Leaves in a Week
Norton Rose Fulbright has lost its second Australian partner in a week after insurance lawyer Matthew Ellis resigned to join Clyde & Co.
Law firm Norton Rose Fulbright adds Australia employment special counsel
Employment and labour partner Melinda Bell joins the firm’s Melbourne office from Hall & Wilcox.
Herbert Smith Freehills’ Singapore Alliance Firm Takes Partner from CMS
Adrian Wong advises equity sponsors, government authorities and others on energy, infrastructure and data centre project development, including M&A.
In-House
Niamh Grogan has joined Sky as its new group general counsel after leaving multinational insurance adviser Willis Towers Watson.
Promotions & Appointments:
Bakers gives the nod to three in London
A total of 75 lawyers globally have been given the nod to partner by Baker McKenzie, with three lawyers making the grade in its London office.
Davis Polk makes first female partner promotion in London
In London, corporate counsel Connie Milonakis has been promoted to partner. As such, she becomes the first woman to be promoted in Davis Polk’s London office, as well as its first female partner in the City.
Hogan Lovells creates new global leadership roles for growth and sectors
New York-based litigation partner Phoebe Wilkinson has been named global managing partner for growth, which will focus on growing the firm’s strategic client relationships, while Munich-based commercial and regulatory partner Patrick Ayad has been named global managing partner for sectors.
Eaton promotes new CLO from within as former head departs for Intel
Taras ‘Terry’ Szmagala Jr is taking over from April Miller Boise as CLO having joined the American-Irish power management company back in 2007 and served in a number of roles including deputy general counsel and, most recently, senior vice president of public and community affairs and corporate communications.
Morrison Foerster elects San Francisco M&A partner as new chair
Morrison Foerster (MoFo) has elected San Francisco M&A partner Eric Takeshi McCrath as its new chair, replacing Larren Nashelsky who has led the firm for the past decade. McCrath will be the firm’s first ethnically diverse chair in its almost 140-year history when he takes over the role in October. He is currently a member of MoFo’s executive committee and its compensation committee, as well global co-chair of the firm’s corporate department.
Mergers & Alliances:
Slater & Gordon splits business in two after strategic review
Slater & Gordon has finalised part of a strategic review of its UK business, with discussions ongoing as to whether certain practices fit into its revised model. As a result of the review, the firm will split its business into two main departments named Essential Legal Services (ELS) and Specialist Legal Services (SLS).
BT announces multi-year expanded partnership with managed legal services provider Factor
The multi-year arrangement will see Factor lead commercial contracting for procurement and sales across BT’s customer facing units, provide multi-lingual lawyers to support BT in negotiations, and work to improve efficiencies for the company’s legal team, such as using new technologies to reduce time to market and risk.
Office Openings & Closing:
UK law societies’ Brussels office to close in response to Brexit
The joint Brussels office of the UK’s three law societies is to close in November in a move being put down to falling workload in the aftermath of Brexit. Opened in 1991, the office monitors EU policy and legislative developments and helps represent the profession to the EU.
Pinsents enters Luxembourg with seven-strong partner team
Pinsent Masons is launching an office in Luxembourg after the acquisition of one of the country’s local firms. From today Pinsents is taking over Wildgen’s office, adding seven partners to the firm and 16 lawyers in the office. The office will be headed by partner, Michel Bulach. This brings the total number of Pinsents’ Continental European offices to seven.
McDermott Launching in Austin With Baker Botts IP Team
Firms in Texas have been aggressively hiring IP lawyers, particularly in Austin, which is located in the Western District of Texas, a hotspot for IP litigation, because of U.S. District Judge Alan Albright’s court in Waco. A number of Big Law firms have opened offices in Austin to take advantage of the robust IP market. A spokesperson for Baker Botts confirmed that these partners have given notice: Syed Fareed, Steve Hash, Paula Heyman, Kevin Meek, Brian Oaks, Margaret Sampson, Nick Schuneman and Brett Thompsen.
Financials:
Linklaters puts financial sponsors at core of revamped APAC strategy
Magic circle firm Linklaters is to put financial sponsors at the heart of its Asia-Pacific operation after a strategy refresh led by regional managing partner William Liu. As part of the strategy, Linklaters is aiming to increase revenue by 10 per cent each year as well as making commitments to flesh out what the firm can offer to financial sponsors.
US push helps Kennedys post 8% revenue rise
Kennedys has reported its highest revenue yet in its latest financial results, with global turnover in the 12 months to the end of April rising 8% to hit £286m. The percentage increase represents a slight drop from the previous financial year, when the firm grew turnover by 11% to £264m.
HSF hikes London NQ pay by 14 per cent
Herbert Smith Freehills is increasing the base rate of its newly-qualified lawyer salaries, having last upped pay for its junior lawyers in December. The firm will be increasing its London NQ base salary to £120,000, plus bonus, effective from today.
M&A boom sees in-house teams almost double deal-related legal spend
The 2022 Enterprise Legal Management Trends Report showed that M&A represented 7.4% of total legal billing in 2021, up from 4.3% in 2020, reflecting the surge in deal activity last year. Firms also charged more for their M&A advice – the median partner billing rate for M&A work was $878 an hour, a 6.1% increase on 2020’s median rate. Average hourly partner rates also increased across the board, growing 3.4%. Insurance partners billed the least at $234 an hour.
Linklaters in ‘No Rush’ to Up NQ Rates, It Tells Lawyers
Linklaters is not looking to raise its newly-qualified solicitor pay imminently, it told its London associates in an email in June, while Herbert Smith Freehills has opted to raise its rate. Linklaters currently pays out £107,500 to its NQ lawyers, a rate which it set in September 2021.
Law firm Allen & Overy will not raise its NQ base pay rate
A spokesperson for the firm said: “After careful consideration and consultation we have decided not to increase the London NQ salary at this time. It was last increased in November 2021, to £107,500. This is a prudent decision based on a number of factors, including the more challenging business environment. We will keep the situation under review.”
Stephenson Harwood Hopes to Bounce Back With Bold New Strategy
Eifion Morris is determined to fast-track Stephenson Harwood’s future with an ambitious plan to double firm revenues in five years. “The firm is at the beginning of a period of change. In the last two and half years we’ve made some significant changes to future-proof our business,” the firm’s chief executive said.
Barrister Strikes: ‘We Value Our Corporate Bodies More Than Those of Our Children’
‘There is a two-tier system creeping across the UK’s legal system: highly-paid commercial lawyers in state-of-the-art buildings and criminal lawyers being paid peanuts in broken buildings.’ The assets that are needed for justice have been depleted as a result of underinvestment, neglect and cashing-in on property sales. Over 250 courts have closed since 2010 and there is no evidence of those proceeds being ploughed back into the system.
Technology & Innovation:
Law Firms: From Innovation to Innovability
The legal sector as a whole is placing ever greater emphasis on technological and systemic innovation as a tool to gain a competitive edge – yet Marco Imperiale, head of innovation at LCA, believes that practitioners are only scratching the surface of what can be achieved.
Artificial intelligence and intellectual property: UK Government responds to UK IPO consultation
A broader exception to copyright infringement is proposed for text and data mining, but no further changes are proposed. The UK Government has, from the outset of its consultations, signalled that fostering innovation in AI is central to its plans for the future. Where, then, does this response leave those ambitions and how will this affect those with IP protection?
Diversity & Inclusion:
The order blocks the state from implementing three laws written to come into effect once Roe was overturned, immediately banning and criminalizing all abortions in the state. The TRO effectively gives Louisiana women two weeks’ grace until at least the hearing scheduled for July 8. Boies Schiller is challenging what it sees as unconstitutionally “vague” laws written by the Republican-led Legislature. The firm—with local co-counsel Ellie Schilling and Jenny Ma of the Center for Reproductive Rights—claims it is impossible to tell whether the trigger laws are actually in effect and, if so, which ones. The petition also questions what conduct would be prohibited by the trigger laws, including what exceptions exist for doctors performing procedures to save a pregnant person’s life.
The demise of Roe v Wade – an analysis of the critical group health plan issues for employers
Under Dobbs, abortion services will, by and large, be unavailable in anti-abortion states, but still freely available in pro-abortion states. Thus, the effects of Dobbs on an employer’s health plan will depend largely on geography, and in many instances, especially for smaller employers, these effects will be obvious and unavoidable. However, Dobbs poses numerous questions for employers that want to offer abortion benefits to employees working in anti-abortion states.
More than a dozen Am Law 100 firms commit to covering travel for out-of-state abortion care
At least 15 Am Law 100 firms with offices in US states that have imposed abortion bans have so far said they will cover travel expenses for out-of-state medical care, according to Above The Law. Those firms include Akin Gump Strauss Hauer & Feld, Cozen O’Connor, Dorsey & Whitney, Hogan Lovells, Kirkland & Ellis, Mayer Brown, McDermott Will & Emery, Morgan Lewis, Morrison Foerster, Proskauer, Quinn Emanuel Urquhart & Sullivan, Ropes & Gray, Seyfarth Shaw, Simpson Thacher & Bartlett and Wilson Sonsini Goodrich & Rosati.
Rankings Show Which Law Firms Have The Most Black Lawyers, But Retention is Still a Huge Failing
The average number of Black lawyers across the largest U.K. law firms remains well below the national average in the U.K. population, according to the latest research by Law.com International. Across 68 major legal institutions, 2.2% of lawyers and 1.05% of partners are Black, the research found, compared with 4.1% of the U.K. population recorded by the Office for National Statistics in 2020.
Women in law don’t see pay equality happening in their working lives, UK study finds
As many as 84% of women in law say they won’t see true pay parity in their working lives, while almost a third (29%) say it won’t happen within the next century. More than half (54%) say gender pay equality in law is only likely to be achieved for the next generation of women workers. Almost two-thirds of respondents (62%) believe that senior management in their firms are not prioritising fixing the pay gap. The survey marks 100 years since women were first admitted to the UK Law Society as solicitors.
LGBTQ+ rights and the law – looking back and looking forward
It’s true that in comparison to the treatment of the LGBTQ+ community prior to 1967 we have come a long way, but it is a pretty low bar. As recently as the mid-19th century, sexual acts between men were punishable by death, and remained illegal until 1967. We no longer condone state sanctioned murder, and many of the rights enjoyed by heterosexual, cisgender people can also be extended to those who do not fall into those categories.
Shearman’s London Office Can Work Remotely For Whole of August
Shearman London head Matthew Readings said in a statement: “We are implementing this initiative to encourage productivity and support the wellbeing of our most important asset, our people. New working practices have been formalised over the past few months and hybrid and remote working are now commonplace within the legal industry and many others.
How Important is Happiness Anyway?
How quantifiable is happiness? It’s a question many law firm leaders may be struggling with as they seek to improve the humour of their ranks, amid feelings that a summer of discontent may be settling on the U.K. The ‘post-pandemic’ glow appears to have worn off, as we’re all now used to meeting in person sometimes now and the frisson of a face-to-face lunch isn’t quite what it once was. Meanwhile the train strikes have done nothing to improve the City’s spirits – though perhaps some lawyers will have been secretly glad to be able to find a legitimate excuse to avoid the office this week.
Australia’s Most Active Climate Litigator Expects to Be Busy for Years to Come
David Barnden has played a role in making the country a prime jurisdiction for test cases with broad policy implications for the environment at a time when climate change litigation has been spreading around the world.
Ukrainian Legal Developments:
Ukraine: council heads raise safeguarding concerns as UK starts accepting unaccompanied children
Council leaders have issued safeguarding and resource concerns, after the government opened its Homes for Ukraine scheme to unaccompanied children. Levelling up secretary Michael Gove announced yesterday that 1,000 Ukrainian children who had already made applications under the scheme would be allowed to travel to the UK without their parents to stay with a sponsor, so long as they had parental consent.
Larysa Denysenko is a journalist, attorney, human rights activist and co-founder of the Association of Women’s Lawyers of Ukraine, “JurFem”. Before the war, Denysenko and JurFem mainly advocated for women’s leadership in legal professions, provided mentorship and supported strategic court cases related to domestic violence and gender-based discrimination. Now, this has extended to representing the interests of those who have survived conflict-related sexual violence allegedly perpetrated by the Russian military in Ukraine.
Moves:
UK & Ireland
BCLP loses derivatives partner to Reed Smith
Tariq Zafar Rasheed is set to join Reed Smith’s financial industry group from BCLP. A group of associates will also be joining with him.
Paul Hastings’ London arm scoops partner duo from CMS and Morgan Lewis
Jason Brooks and Tom Cartwright are joining the Los Angeles-based firm’s UK private equity and structured credit groups respectively.
Stephenson Harwood boosts London litigation team with Latham hire
Stephenson Harwood has added Dan Smith, former Latham & Watkins counsel, as a partner to its litigation department in London.
Law firm Goodwin Procter hires London Macfarlanes financial services partner
Partner Andrew Henderson has joined Goodwin’s private investment funds practice according to a press release from the firm.
Law Firm Reed Smith Bolsters London Office With BCLP Partner
Reed Smith has hired structured finance partner Tariq Zafar Rasheed from Bryan Cave Leighton Paisner.
Sidley Austin Bolsters London Private Equity With Proskauer Partner Hire
Tony Downes, who had been a corporate partner in Proskauer Rose’s private equity group since 2020, is set to join Sidley Austin, according to a person at Sidley.
EMEA
Crowell & Moring adds veteran disputes partner in Brussels from Allen & Overy
Werner Eyskens has moved from Allen & Overy to Crowell & Moring as US firms continue run of partner laterals from UK rivals in Belgian capital.
Dentons hires DWF’s former Middle East finance and banking head as a partner
Dentons has hired DWF’s former head of its Middle East finance and banking group Umera Ali to grow its banking and finance practice in the region.
Law firm Hogan Lovells has expanded its Munich team with a partner hire
Hogan Lovells is set to expand its compliance and investigations practice in Germany with the hire of experienced in-house compliance chief Philip Matthey, who is set to join as a partner in Munich in October.
Hogan Lovells Recruits Banking Partner to Boost Paris Offering
Hogan Lovells has recruited Weil, Gotshal & Manges’ Cassandra Porgès as a partner in its banking and loan finance practice in Paris.
K&L Gates secures Brussels antitrust partner from Linklaters
K&L Gates has hired Nikolaos Peristerakis from Linklaters to boost its antitrust and trade regulation platform in Brussels.
Cleary Gottlieb hires HSF’s former German managing partner to boost corporate practice
Cleary Gottlieb Steen & Hamilton has hired Herbert Smith Freehills’ (HSF) German managing partner Nico Abel to its M&A practice in Frankfurt.
UK Competition Boutique Adds Covington Lawyer to Lead Brussels Office
U.K. competition boutique Euclid Law has hired Andrea Zulli from Covington & Burling to head up its Brussels office.
Norton Rose South Africa Hires Local Boutique’s Cape Town Head
Norton Rose Fulbright South Africa’s has hired Tapiwa Gandidze after nearly 17 years at Cheadle Thompson & Haysom.
The Americas
Latham & Watkins hires WilmerHale’s former international arbitration head in New York
Latham & Watkins has hired cross-border disputes specialist John Pierce from WilmerHale to co-chair its international arbitration practice.
APAC
Herbert Smith Freehills secures trio of tax partners from ex-Australian ally as it switches to PwC
Herbert Smith Freehills (HSF) has hired a trio of tax partners in Australia from former local tax advisory associate firm Greenwoods, which was acquired earlier this year by PwC. Toby Eggleston and Ryan Leslie have joined HSF in Melbourne while Nick Heggart has moved across in Perth, shortly after around 65 employees from Greenwoods, including 15 partners, made the move to PwC earlier this month.
Law Firm White & Case Hires Norton Rose Partner, Relocates To Tokyo
White & Case has built out its Tokyo base with the hire of Norton Rose Fulbright partner Julien Bocobza. He joins the firm’s global project development and finance practice.
DLA Piper Takes Australian Tax Partner from Norton Rose Fulbright
DLA Piper has added Adam Smith from Norton Rose Fulbright in Melbourne.
In-House
Gett’s head of legal takes on new GC role
Chris Fletcher, who has held previous roles at Deliveroo, Amazon and Gett, has joined Infinium Logistics as its new general counsel.
Promotions & Appointments:
Freshfields Antitrust Co-Head Takes London Disputes Head Role
Freshfields Bruckhaus Deringer litigation and antitrust partner and global competition litigation co-head Mark Sansom has been appointed London dispute resolution head in addition to his current role.
Mergers & Alliances:
Eversheds Sutherland expands Central and Eastern Europe business with Bulgarian tie-up
Eversheds Sutherland has announced a combination with Bulgarian firm Tsvetkova Bebov & Partners (TBP) as it seeks to expand its client coverage in Central and Eastern Europe. The deal adds four partners and 15 lawyers to the firm’s international roster, with Sofia-based TBP rebranded as Eversheds Sutherland Bulgaria. The partners include corporate, M&A and commercial lawyer Irina Tsvetkova, who becomes managing partner of the Bulgaria office, and capital markets and financial services specialist Nikolay Bebov.
DAC Beachcroft Enters Co-operation Agreement with German Law Firm
DAC Beachcroft has expanded its European presence through a cooperation agreement with German firm BLD Bach Langheid Dallmayr. The agreement builds on an existing relationship between DACB and BLD as founding members of Legalign Global, an international alliance of insurance-focused law firms, and will see close cooperation such as being able to contract as one, cooperating to train and develop their insurance specialists, and sharing business intelligence and know-how, among other things.
Spain’s ECIJA Integrates Another Law Firm in Ecuador
the absorption of Estudio Central in the city of Cuenca adds four partners and a fourth office for the firm in Ecuador.
Office Openings & Closing:
Ashurst unveils third US office in Texas
The base in Austin will be its third office in the US, after New York and Los Angeles. It is expected to focus predominantly on infrastructure investment, development and finance matters in transport, social infrastructure and water. The new office will be headed by Wes Strickland, a projects partner in the firm’s Los Angeles office who will divide his time between Texas and California. He joined last year from Holland & Knight.
McDermott Launching in Austin With Baker Botts IP Team
Chicago-based McDermott Will & Emery, which has Texas offices in Houston and Dallas, is launching an office in Austin and hiring an eight-partner intellectual property group from Baker Botts.
Goodwin Set to Launch in Singapore, Adds Kirkland Partner in Hong Kong
Goodwin Procter is set to launch a Singapore office, as more international law firms pivot their focus to the country. According to people at the firm, it has applied to the Ministry of Law in Singapore for a Foreign Law Practice License, which has yet to be approved.
Financials:
Kennedys’ revenue buoyed by double-digit US growth
Kennedys’ revenue was up 8 per cent over 2021/22, while London growth slowed due to the ongoing effect of Covid-19 across its business. Overall turnover increased from £264m to £286m, a rise of 8 per cent. In the previous financial year, Kennedys’ global revenue rose 11 per cent.
Results Season is Here. Do Partners Expect to Match the Heady Heights of 2021
Early reports suggest that profit and revenue will remain strong into 2022. Among the first to post results were Osborne Clarke and Gateley, which both delivered improved double-digit growth.
Milbank mulls overhaul of partnership structure
US firm Milbank is weighing up introducing a salaried layer into its current partnership structure, The Lawyer has learned. The Lawyer understands the change to the partnership structure is being pondered in order to retain talent and with the intention of accelerating lawyers on to its partnership track. The new layer of salaried partners is understood to be predicated on Kirkland & Ellis’ model of equity and non-equity partners.
Cravath Partners Pump In Money To Bonus Pool As Part of Pay Overhaul
Just look to Cravath, Swaine & Moore, which has created a bonus pool funded by 15% of points from each partner, according to two sources familiar with the arrangement. The pool, dispersed at the discretion of firm management, will be awarded to whoever the firm considers high performers. Exactly how the firm determines the high performers is not clear.
Inside Track: How Legal Departments Can Use Economic Uncertainty to Their Advantage
If you are a general counsel who’s long been wanting to add employees to your legal department, now might be the right time to make the pitch. Certainly, that’s counterintuitive thinking. With fears of a recession looming, companies are preparing to batten down the hatches, perhaps even lay off workers, not add to their head counts.
European 100: Combined revenue reaches all-time high of €12.2bn
The combined revenue of all 100 firms for the 2021 financial year grew by roughly €1bn between 2020 and 2021, rising 9.4 per cent from €11.2bn to a new record of €12.2bn. According to the report, released today, headcount numbers also peaked with new records set both for overall lawyers (27,047) and partners (7,956.8). The two figures were an increase of 2.7 per cent and 4.2 per cent, respectively, on the previous year.
The private equity money will help the firm pursue growth. But partners also want to draw on the investors’ business acumen.
Technology & Innovation:
Major Court Defeat for EC Holds Implications For Big Tech Crackdown, Lawyers Say
Lawyers have labelled the European Commission’s court defeat against chipmaker Qualcomm as an “extremely disappointing loss” for the competition enforcer that could affect its appetite to crack down on big tech in the future. The U.S. tech company triumphed against a €997 million fine imposed by EU antitrust regulators for allegedly illegal exclusivity rebates with Apple. Europe’s second-highest court annulled a 2018 decision by the European Commission to impose the near-billion euro fine on Qualcomm for its use of incentive payments to Apple in exchange for exclusive use of its chipsets, “preventing competition on the merits.”
Cleary Gottlieb Launches ClearyX, A Platform for Highly Efficient, AI and Data-Driven Legal Services
Cleary Gottlieb Steen & Hamilton LLP announced today the official launch of ClearyX, a new platform designed to reimagine how legal services can be delivered using innovative combinations of people, process and project-management discipline, augmented by a range of technologies.
The Golden Age of the Knowledge Management Lawyer
The pivot to remote work, more efficient processes, and new digital tools put previously unheralded knowledge management lawyers at the forefront of law firms’ success during the COVID-19 pandemic.
Diversity & Inclusion:
The New Generation of Queer Lawyers Making Waves in Canada
The country is one of the most progressive in the world, but the legal industry had not hosted a LGBTQ conference until this month.
Squire Patton Boggs launches UK ESG strategy, commits to net-zero carbon emissions by 2035
The strategy will see disadvantaged students receive 75% of internship and work experience opportunities at Squire, which has also committed to achieving the diversity targets it announced in April last year. Among them was to have 25% of UK partners be women and 16% ethnic minority representation across the firm by 2026.
A Look at Climate Litigation So Far This Year
Climate litigation is flourishing. The Court of Justice of the European Union (CJEU) and the European Court of Human Rights (ECHR) are grappling with several significant climate litigation cases. However, future growth may be impeded by a recent CJEU ruling in the so-called People’s Climate Case, launched in 2018 by families across Europe, as well as Kenya and Fiji.
Mental Health Improves for Women and Minority Lawyers, But Disparities Persist, US Research Finds
The mental health of minority and women lawyers appears to have improved over the last year, according to the results of Law.com and ALM Intelligence’s 2022 Mental Health and Substance Abuse Survey, which also showed positive wellness trends for all lawyers. This year’s survey, sent to over 3,400 lawyers at law firms around the globe in March and April, indicated that some of the most significant disparities in mental health between white male attorneys and all others, particularly women and attorneys of color, had shrunk since the 2021 survey.
Meet three women who came back to law after a long career break
Anne Todd, Hannah Edwards and Manjit Sandhu all took several years out of law before returning through the Reignite Academy, an organisation that focuses on helping lawyers break back into the industry after time away. They tell their stories.
Watch Your Language: Gender Neutrality in Contracts
Different languages present different challenges but many countries have now published guidelines to encourage lawyers to avoid gender bias, writes Ricci Hackner of Bowmans in South Africa.
Law firms’ people aged 45+ are unhappier than millenials, research found
Those working at law firms who are aged 45 and over are unhappier in their jobs and with their work-life balance than their younger counterparts are, new research has revealed, while just 2% expect to remain at their current firm for more than the next decade.
Management Must Opt-In to Tackle Burnout
Burnout continues to be a major issue for the legal industry across many levels of seniority. In May, legal career coach former Clifford Chance lawyer Tami Irokawa McGonical called the uptick she has seen in burnout in the profession as “devastating”. Many associates have left the profession entirely, often due to their own feelings of burnout.
Apple, Google GCs among LCLD members making public diversity pledges
Almost 400 law firms and large corporations in the US including Google and Apple have made a public pledge detailing the steps they will take to improve diversity, equity and inclusion in the legal profession. Some 93% of the Leadership Council on Legal Diversity’s (LCLD) members have made the pledge, with the LCLD working with the remaining 7% to complete their pledges as soon as possible. The pledges are part of the council’s Leaders at the Front campaign, which aims to make the legal profession as diverse as the wider society it represents by encouraging legal leaders to push for change.
Slaughter and May to Trial Bring Your Dog to Work Day
Slaughter and May will trial its first ever ‘bring your dog to work day’ this week, with the benefits of animals in the office extolled by managing partner Deborah Finkler.
‘Let Lawyers Do More Than Just Slave Over Files’ Says Coca Cola GC in Pro Bono Push
Speaking at the Commercial Litigation Forum’s pro bono event at the Royal Courts of Justice on Wednesday, Wardle explained that ESG-related matters were the “flavour of the month” for general counsel of large companies and that pro bono work was core to that as it has a “huge social benefit”.
Ukrainian Legal Developments:
U.S. law schools are funding degrees for Ukrainian lawyers
The University of Pittsburgh School of Law is working to bring a half dozen Ukrainian lawyers to the United States to spend a year studying and doing pro bono work related to their home country. The initiative is part of the school’s Ukrainian Legal Assistance Project, which aims to apply human rights law and other legal remedies to Russia’s invasion of Ukraine. The university committed to paying the Ukrainian LL.M. students’ tuition and covering their travel and living expenses as needed.
A Lawyer’s Advisory Role in the Global Discussion About Energy Security
This week, Hogan Lovells partner and global energy practice leader Amy Roma discusses international energy security challenges in light of the war in Ukraine and her legal advisory role with E.U. as well as U.S. stakeholders.
Moves:
UK & Ireland
Morgan Lewis loses partner to Paul Hastings
Tom Cartwright, private equity partner, has left Morgan Lewis for Paul Hastings.
London A&O Arbitration Partner Departs Firm
Suzanne Spears, former Co-Head of Allen & Overy’s global business and human rights practice has left to found her own Boutique in London.
Cooley has strengthened its life science corporate partnering & licensing practice
Frances Stocks Allen joins Cooley after more than eight years at Latham.
Listed law firm Ince hires former Slaughter and May partner Oliver Storey
Financing partner Oliver Storey has left White & Case for Ince.
Matthew Cowie, white collar and securities litigation partner, has left Dechert.
Law Firms Akin Gump And Norton Rose Fulbright Bolster London Finance Teams
James Collis, former Ashurst managing partner, joins Norton Rose Fulbright.
Keating Chambers CEO to depart for risk consultants Kroll in London
Keating Chambers CEO Declan Redmond is leaving the set to join corporate investigations and risk consulting firm Kroll in London.
EMEA
White & Case Spanish Office Adds Freshfields Madrid Partner
Javier Monzon, corporate partner, has joined White & Case’s Madrid office from Freshfields.
Law Firm Cleary Hires Herbert Smith Freehills Managing Partner
Corporate partner Nico Abel, formerly the managing partner of HSF, joins Cleary’s Frankfurt office.
Squire Patton Boggs adds two real estate partners in Paris
Estelle Vernejoul joins the firm from her role as founding partner of AVOCATALYSE, which she established in 2018. She moves across alongside associate Angélique Charrier. Thomas Coëffé joins from Taylor Wessing where he was a real estate counsel. He joins the firm along with real estate associate Elise Milani.
Webber Wentzel Hires 3-Lawyer Fintech Team from Cliffe Dekker Hofmeyr
Webber Wentzel has rehired a fintech partner from Cliffe Dekker Hofmeyr, along with two other lawyers.
Law Firm Jones Day Adds Paris White Collar Expert
Vincent Ohannessian joins the firm from French outfit Wan Avocats, where he has spent the past two years.
The Americas
WilmerHale hires former federal prosecutor Preet Bharara
US firm WilmerHale has landed a high-profile partner hire with the arrival of former US Attorney for the Southern District of New York Preet Bharara.
Holland & Knight adds veteran tax partner in Colombia as LatAm growth continues
Holland & Knight has made its second lateral partner hire in Columbia this year after persuading tax expert Gustavo Pardo Ardila to incorporate his independent practice into the firm.
APAC
Clifford Chance adds funds partner in Hong Kong from Kirkland & Ellis
Liyong Xing, funds and investment management partner, has joined Clifford Chance from Kirkland & Ellis.
In-House
Clare Lynch, former head of legal at Vodafone, will join Ocado in September.
Warburg Pincus’ new pharma purchase appoints GC
Pharma Intelligence has appointed Vicky Harris as general counsel from Warburg Pincus, where she was a consultant.
Six Flags adds chief legal officer from Sabre six months after axing GC role
Aimee Williams-Ramey has joined the Dallas-based amusement park operator as one of a number of leadership appointments the company said underscored its commitment to diversity and inclusion.
Promotions & Appointments:
Cripps gets new managing partner and drops Pemberton Greenish name as it passes £40m
James Beatton will replace Gavin Tyler from May 2023, who will retire upon stepping down ater 39 years at Cripps.
Freshfields promotes London disputes head to lead global practice
Freshfields Bruckhaus Deringer has appointed London disputes leader Sarah Parkes as its next global disputes head as it presses on with plans to grow a heavyweight US practice and an innovative mass claims unit in Germany.
Shearman & Sterling looks to home for latest partner promotions round
Shearman & Sterling stayed close to home in its latest partner promotions round with nine of the 12 spots going to lawyers in the US. The US focus marks a pivot from the New York firm’s round last year, when nine of the 14 promotions were made across its international network following a six-month delay. The latest promotions arrive a year after the delayed round was unveiled last June. Four of the new partners are women (33%), representing a slight dip on last year when six of the 14 made up were women, or 42% of the total.
Brown Rudnick elects tax partner as next chair and CEO
Brown Rudnick has elected New York-based tax partner Vincent Guglielmotti as its next chief executive officer and chair of the firm’s management committee, succeeding William Baldiga.
Herbert Smith Freehills’ CEO appointed to ICC’s executive board
Herbert Smith Freehills’ chief executive, Justin D’Agostino, has been appointed to the executive board of the International Chamber of Commerce (ICC) in a move that promises to grow his profile in the wider business community.
Top Canadian Litigation Boutique Names New Managing Partner
Commercial litigator Emily Lawrence is the new managing partner of Canadian litigation boutique Paliare Roland Rosenberg Rothstein.
Mishcon Board Directors Step Down Following IPO Postponement
Four non-executive board directors have stepped down from Mishcon de Reya, following the news that the firm’s planned IPO has been postponed “for the foreseeable future”. The directors were appointed to the board of Mishcon de Reya Group in February this year, along with the firm’s current chief financial officer Matt Hotson, who joined the firm in the newly established role in December 2021.
Mishcon opens up international seats for trainees
Mishcon de Reya has launched an international seat for its trainee lawyers as the firm bids to make best use of its fledging Asia-Pacific presence. The international seat was set up earlier this year with the trainee, Laura Price, beginning in Singapore on 21 March for a six-month period.
Mergers & Alliances:
Davis Wright Tremaine bolsters financial services offering with boutique tie-up
AmLaw 100 firm Davis Wright Tremaine is to merge with financial services boutique law firm McGonigle in a move that will double the size of its banking and financial services practice and add two bases to its national platform.
Fennemore agrees tie-up with 113-year old East Bay firm Wendel Rosen
US national firm Fennemore has continued its West Coast expansion with its second Californian merger in two years, this time joining forces with Wendel Rosen, one of the oldest firms in the East Bay region. The combined firm will be known as Fennemore Wendel in Northern California where Wendel Rosen has three offices, in Oakland, Modesto and Walnut Creek. The tie-up adds 56 lawyers to Fennemore’s roster, taking its total attorney headcount to 250. Wendel brings a full-service offering with particular expertise in real estate, land use, litigation and trusts and estates. The merger will be effective from the start of July.
Australian Law Firm Wotton + Kearney Sells Minority Stake to Private Equity Investor
Australian and New Zealand law firm Wotton + Kearney has sold a 30% stake to local private equity firm Straight Bat to fund its expansion. As part of the unusual deal, Straight Bat will appoint two non-executive directors to the specialist insurance firm’s board to provide insight and “challenge our traditional thinking,” Wotton + Kearney said.
Financials:
Osborne Clarke pays out 5 per cent profit share to staff
Osborne Clarke will hand out at least £2,500 to each UK staff member as the firm offers a profit share award on the back of positive financial results. The rewards come as the firm reports 20 per cent growth across its UK offices from £166.4m to £199.1m over 2021/22.
Corporate legal spend shifts more in-house, report finds
In-house legal teams, particularly at smaller companies, are spending more of their legal budget internally and less on outside counsel, according to new research by the Association of Corporate Counsel and Major Lindsey & Africa. The 2022 Law Department Management Benchmarking Report found that more than half (54%) of legal spend was in-house, a shift from last year’s survey, which tilted slightly toward a larger external spend – 51% on average.
Gateley Reaps Rewards From Year Of Acquisitions
The firm said its revenue increased by 13% to £137 million, improved growth on 2021 when it posted a 10% top line rise. Additionally, the firm’s underlying adjusted profit before tax jumped by 11%, up to £21.5 million.
UK Law Firms Slash Debt Post-Pandemic
Seven firms—DLA Piper, Eversheds Sutherland, Norton Rose Fulbright, Irwin Mitchell, Fieldfisher, Gateley and Weightmans—reduced their debt by 100% as of April 2021, according to analysis of their most recent limited liability accounts on Companies House by auditor Evelyn Partners.
Technology & Innovation:
Complex EU data rules hindering data-driven business models, survey finds
More than two thirds of general counsel in Europe say complex data rules are preventing their organisations from embracing data-driven business models, according to a new study by Osborne Clarke and the European Company Lawyers Association (ECLA).
Why systems support is the way to a good night’s sleep
The need to maintain legaltech has an important regulatory angle, explain 3Kites’ Paul Longhurst and Richard Kemp of Kemp IT Law.
Diversity & Inclusion:
The Top Law Firms For LGBTQ+ Representation in the UK, 2022
Skadden, Arps, Slate, Meagher & Flom, White & Case and Herbert Smith Freehills are the firms with the highest proportion of LGBTQ+ representation in its U.K. lawyer ranks, research by Law.com International has found. Sixty-eight major legal institutions provided data for a comprehensive survey—which was sent to Top 50 U.K. law firms and large U.S. law firms operating in London with a U.K. headcount of over 50 lawyers, asking for the proportion of lawyers who identify as LGBTQ+.
Could The Four-Day Week Work in Big Law?
Thousands of workers across the U.K. have this month started working a four-day week as part of a nationwide trial. Thought to provide significant benefits to well-being, productivity, revenue, as well as the environment, it’s a concept that is taking off in other European nations, such as Belgium. The trial, which started last week, involves around 3,300 workers at 70 companies who will enjoy a four-day week with no effect on pay. But can a four-day week fit within the confines of the hyper-competitive legal industry, where meeting client needs and round-the-clock availability have been prioritised for so long? Has the advent of flexible working enabled industry leaders to rethink what is possible?
It is Time Law Firms Embraced Menopause Training
Figures published by Sky News, suggests that 1 in 10 women left employment because of the detrimental impact that menopause had on their working lives. Gender equality has long plagued the legal profession and has clouded the career ladder for many women. With more women going into and staying in the legal field, there will inevitably be more people dealing with the menopause at some point in their career, so ignoring this topic is no longer an option.
Travers Smith scales up eat-for-free canteen
Travers Smith is set to offer its London workers three meals a day, five days a week – all for free. The UK law firm is preparing to launch a limited evening service this summer, whereby all staff – including business service professionals – can eat dinner free-of-charge from its office cafe, Braithwaite’s. Travers’ free dinner scheme will start officially in September, when there will be a full selection of meals available.
Ukrainian Legal Developments:
UK Law Firm Leads Mass Civil Claims Against Russia
Together with a coalition of Ukrainian, U.S. and European firms, U.K. human rights boutique McCue Jury & Partners is to coordinate hundreds of civil claims against Russian officials and oligarchs over property damaged in Russia’s invasion of Ukraine. The civil claims will seek to obtain compensation for destruction to private property as well as governmental, national, infrastructural and other types of property, a person close to McCue Jury told Law.com International.
Three Am Law Firms May Soon Finally Be Free to Withdraw From Representing Sanctioned Russian Banks
Three large Am Law firms representing Russian banks that were sanctioned following Russia’s invasion of Ukraine—White & Case, Debevoise & Plimpton and Latham & Watkins—will be able to withdraw from the case provided that substitute counsel file notices of appearance this month. White & Case and Debevoise & Plimpton were granted permission to withdraw provided that substitute counsel file a notice of appearance by June 24. Latham & Watkins, which already missed one deadline to get substitute counsel to file an appearance notice, has been given until June 15.
IBA launches major project examining lawyers’ role as ethical gatekeepers
The Gatekeepers Project was announced following what the IBA called ‘existing and sustained charges levied against the profession,’ arising not just from the Russian-Ukraine war, but also in relation to perceived facilitation of illicit financial activity, greenwashing of climate change activity and frustration of the UN’s sustainable development goals.
Moves:
UK & Ireland
EY Law Hires Dentons Employment Head
EY Law has is continuing its U.K. expansion with the hire of Dentons partner and UKME head of employment Virginia Allen.
All change as Harbottle appoints new leader
Charles Leveque, who has been at the firm since 2007, has succeeded Glen Atchison as managing partner.
RPC and Pallas Partners secure key arbitration hires in London
RPC is celebrating the arrival of Shai Wade from London rival Stephenson Harwood while Boies Schiller Flexner’s former deputy chair, Natasha Harrison, has secured her new firm’s first lateral partner recruit: Debevoise & Plimpton counsel Nelson Goh.
Linklaters Hires London Ashurst Partner
Jessica Jenner will join the firm’s real estate finance practice in London later this year, according to a statement by Linklaters on Tuesday.
Former Linklaters veteran takes on vacant MoJ role
Christopher Bellamy, who returned to Monkton Chambers in 2020, has been named by the UK Government as a Parliamentary Secretary of State in the Ministry of Justice.
Clifford Chance hires first-ever global ‘head of wellbeing’ from Aon in London
Charles Alberts will create and lead the firm’s wellbeing strategy and consult on mental health and general staff welfare concerns.
BCLP real estate partner exits for Addleshaws
Simon Pollock has joined Addleshaw Goddard’s investment management group after nearly 29 years with BCLP.
Matheson hires Mason Hayes & Curran partner to lead EU competition and regulatory practice
Niall Collins joins from Mason Hayes & Curran as head of the EU, competition and regulatory practice, while Karen Sheil joins from William Fry as a commercial property partner.
Law firm Clifford Chance has lost one, hired one in its London partner ranks
Restructuring partner Adrian Cohen has left the firm after over 30 years to join U.S. firm Proskauer Rose, while former leveraged financing partner Matt Dunn is rejoining the firm after a stint at Irish firm Arthur Cox. Cohen joins after almost 32 years at Clifford Chance, according to his LinkedIn.
RPC bolsters insurance ranks with partner hire in London from Mayer Brown
RPC has added insurance lawyer Mike Newham as a partner in London from Mayer Brown.
Law firm Weil Gotshal Adds Akin Gump Partner to Its Restructuring Team
Weil, Gotshal & Manges has strengthened its London-based restructuring practice with the hire of Akin Gump Strauss Hauer & Feld partner Lois Deasey.
Law Firm Crowell & Moring Hires Baker Botts London Partner
Crowell & Moring has added to its London corporate team with the hire of partner David Ramm from Baker Botts.
Six-Lawyer BLM Team Departs For Browne Jacobson
The group of professional indemnity lawyers is led by partner Michael Appleby and includes two senior associates, two associates, and one other lawyer. The group will join Browne Jacobson in Manchester.
EMEA
Ince bolsters Greek presence with seven new faces for Piraeus office from rival firms
Listed UK law and professional services firm Ince has added seven new faces from rival firms to its office in Piraeus, Greece, in a move it says has been triggered by an increased volume of business.
Squire Patton Boggs makes third lateral partner hire in Paris this month
Maxime Deuquesne has joined Squire Patton Boggs from private equity boutique Lamartine Conseil.
5-Lawyer CMS Tax Team Exits for Gianni & Origoni in Milan
Partner Mario d’Avossa leads the move after practising for two years at CMS Adonnino Ascoli & Cavasola Scamoni.
Eversheds Paris Adds a 7-Lawyer Corporate/M&A Team From French Rival
Eversheds Sutherland in Paris has added a seven-lawyer corporate/M&A team, including two partners, from CMS Francis Lefebvre. The team is led by partners Jean-Robert Bousquet and Alexandre Morel and includes counsel Célia Mayran and Geoffroy Loncle de Forville, and associates Anaïs Fritzinger, Jade Huard and Victor Grillo.
The Americas
Paul Hastings celebrates ‘milestone’ hire of Gibson Dunn’s M&A co-chair in New York
Eduardo Gallardo is the latest addition to join Paul Hasting’s New York office as the headcount nears 400.
McDermott continues run of transactions partner hires with trio in New York and Atlanta
Partners Luc Jansen and Prem Amarnani have joined the firm in the Big Apple from Kirkland & Ellis and Skadden Arps Slate Meagher & Flom respectively, while Nathan Mihalik, previously counsel at King & Spalding, has joined as a partner in Atlanta.
Goodwin raids Latham & Watkins for corporate partner trio in Santa Monica
Chris Shoff, David Ajalat and David Pendergast join from Latham & Watkins, bringing with them experience representing emerging-growth companies and venture capital firms.
Morrison Foerster adds another West Coast partner from Perkins Coie
Matthew Ferry has joined the San Diego office as a partner after six years at Perkins Coie, where he served as counsel and focused on IP litigation and technology transactions.
Allen & Overy and Linklaters eye US growth with lateral partner hires
A&O has hired corporate partner Jesse Debban in Silicon Valley from Farella Braun + Martel, while Linklaters has secured Paul Weiss Rifkind Wharton & Garrison employment partner Andrew Gaines in New York.
Barnes & Thornburg hires healthcare compliance team from Bass Berry in DC
John Kelly, who served as Nashville-based Bass Berry’s managing partner in DC for just over a decade, joins the firm to chair its 80-lawyer healthcare department and healthcare industry practice. He arrives alongside Jacquelyn Papish, who joins as a partner after a year as an associate at Bass Berry, and associate AJ Bolan.
Goodwin adds private equity heft in the US with partner hires from Kirkland and Gibson Dunn
Andrew Kimball has joined the firm from Kirkland & Ellis in DC, while Andrew Cheng has moved over from Gibson Dunn in Santa Monica, the firm said.
Norton Rose Fulbright boosts US West Coast projects team with MoFo partner hire
Norton Rose Fulbright has hired US renewable energy lawyer Elizabeth Sluder from Morrison & Foerster as it seeks to strengthen its West Coast projects team.
Eversheds Adds Hotel In-House Veteran, as Firm Builds Hospitality Team
Wendy Hansen, who was vice president and legal counsel at Mandarin Oriental Hotel Group for the last 14 years, has joined Eversheds’ Atlanta office.
APAC
Former HSF global CEO Mark Rigotti departs legal practice for business leadership role
Mark Rigotti, the former global CEO of Herbert Smith Freehills, is set to leave the firm to take up a leadership role at the Australian Institute of Company Directors (AICD).
In-House
De La Rue GC takes on new legal role
Jane Hyde ha moved from currency printing service and authenticator De La Rue to RWS Holdings, an intellectual property group, as their general counsel.
Former CNBC lawyer joins executive recruitment platform True as GC
Aisha Christian has joined True from the GC role at KIPP NYC, a network of private schools in New York.
Promotions & Appointments:
Brown Rudnick promotes Johnny Depp’s lawyer to partner
Brown Rudnick has promoted litigation specialist Camille Vasquez to partner as a direct result of her role in winning a $15m jury verdict for actor Johnny Depp’s defamation claim against ex-wife Amber Heard.
NautaDutilh appoints new managing partners, creates inclusion partner role
Under the changes, corporate M&A head Lieke van der Velden and disputes head Sjoerd Meijer will take up co-managing partner roles alongside incumbent Chris Warner, who is staying as one of the firm’s three co-heads. Stepping down are Jaap Jan Trommel and Petra Zijp, who will return to their M&A and capital markets practices respectively.
Part-time partners included in largest promotions round to date at Australia’s Lander & Rogers
Australian independent Lander & Rogers has added seven partners as part of its largest promotions round yet, including two who work part-time.
Freshfields Names Next Global Disputes Head
Freshfields Bruckhaus Deringer has appointed London partner Sarah Parkes as its next global head of dispute resolution.
Sheppard Mullin names next Chicago managing partner ahead of office relocation
Liisa Thomas succeeds Larry Eppley, who took charge of the Chicago office when it opened in 2012. Eppley is set to remain with the Los Angeles-based firm as the leader of its hospitality industry team.
Hogan Lovells names new head of Silicon Valley base ahead of Redwood City move
Hogan Lovells has named corporate and finance partner Jane Ross as its office managing partner in Silicon Valley ahead of its move to a new office space in Redwood City.
Women dominate Corrs Chambers Westgarth’s partner promotions round
Australian Big Six firm Corrs Chambers Westgarth has promoted eight lawyers to partner in its latest round, six of them women.
Baker McKenzie turns to rising star to revamp Johannesburg leadership
Baker McKenzie has unveiled a new Johannesburg leadership team more than nine months after implementing a ‘three-step plan’ to address management issues at the office. South Africa head of competition and antitrust Lerisha Naidu will become managing partner of the office from 1 July at the head of a management team that also includes head of employment and compensation Johan Botes and corporate partner Marc Yudaken.
Mergers & Alliances:
Law firm mergers: the cultural iceberg below the surface
The global economy has seen more M&A activity in the last 12 months than for a number of years. It is therefore no surprise to see this reflected in the legal services market, where law firm mergers and acquisitions are on the rise.
The firm has added local firm Kenny Solicitors to its ranks, which comprises eight partners and is led by partner Graham Kenny.
Nigerian firm Aluko & Oyebode joins African legal alliance ALN
Nigeria’s Aluko & Oyebode has joined African law firm alliance ALN to bolster its cross-border and pan-African capabilities. The alliance takes ALN’s jurisdiction count across the continent to 16 and gives existing partner firms and their clients access to legal expertise in Africa’s largest economy. It also provides member firms access to Aluko & Oyebode’s broader pool of specialist teams and resources, which bring vast regional and international experience to the table.
Office Openings & Closing:
Browne Jacobson unveils first overseas office
Browne Jacobson, a firm with five offices across the UK, is to open its first base overseas later this month in Dublin. Permanently based in the office will be technology and IP litigation partners Jeanne Kelly and Ciaran Markey, who join from LK Shields. The firm has also hired senior associate Darragh Killeen from LK Shields, along with two further associates joining in the summer.
Law Firm Freshfields Adds More Bases in Germany to Service Big Scale
Freshfields Bruckhaus Deringer is building presences in the German cities of Nuremberg, Mannheim and Hanover as part of its expansion of its Dieselgate-style mass litigation unit.
Hogan Lovells’ Moscow office spun out to create new independent firm
Level Legal Services launched this month alongside relocations and ‘some’ expected redundancies.
Financials:
⭐ Financial Results 2022: Live
The Lawyer has created a live-update blog as firms release their data from the 2021/22 year.
World’s oldest firm nears £30m mark with ninth consecutive year of growth
Thomson Snell & Passmore, the Kent law firm acknowledged by Guinness World Records as the world’s oldest, has posted fee income of £27.7m for the 2021/22 financial year, an increase of 11 per cent.
Peterborough’s Buckles vows to hit £30m after record year
Peterborough-founded firm Buckles has stated its aim to become a £30m firm by 2028 after almost doubling in size in the last five years. The growth has come organically and through a series of mergers. Buckles acquired DCH Law of Nottingham in 2018, Lyndales Solicitors, which was based on Furnival Street in London, in 2019, followed by Cambridge’s Miller Sands Solicitors in 2020.
Mishcon de Reya Scraps IPO Plan ‘for Foreseeable Future’
In a statement on Wednesday, a firm spokesperson said: ”We can confirm that we have decided to put our IPO plans on hold for the foreseeable future due to market conditions. We remain an ambitious and bold business with a clear strategy and vision for our future.”
Technology & Innovation:
Founders Forum invests in fintech-focused virtual law startup Chronos Law
Three-year-old virtual law firm Chronos Law has received financial backing from entrepreneur community Founders Forum Group to further accelerate the firm’s growth. The deal will see Chronos – which specialises in legal advice for scaling fintechs – rebrand as Founders Law and become part of Founders Forum’s growing professional services offering. That will enable the firm to provide legal services to tech scale-ups in the Founders Forum network. Chronos was founded in 2019 by former White & Case lawyer and fintech specialist Tom Bohills with the idea to combine private practice expertise with the accessibility of in-house legal counsel.
Cybersecurity experts say law firms need to act more proactively on cyber risk
A 2020 report from the Solicitors Regulation Authority found that 75% of firms in England and Wales have reported being victims of a cyber attack, with almost a quarter of those being directly targeted resulting in more than £4m of client money being stolen. Half of those firms were found to have allowed unrestricted access to external data storage, the report said.
LawtechUK ‘created a sense of urgency’ around tech adoption in legal sector, impact assessment says
The government-backed LawtechUK initiative launched in collaboration with tech industry body Tech Nation has created a ‘sense of urgency’ around the development of legaltech, according to an external impact report.
Max Schrems: The World Renowned Privacy Advocate Is Still Fighting to Create a Culture of Compliance
As a well-known privacy activist and founder of one of Europe’s most influential privacy enforcement NGOs, Austrian lawyer Max Schrems seems surprisingly sympathetic to companies that are not complying with the General Data Protection Regulation, commonly known as GDPR—Europe’s trailblazing 2018 privacy law.
Diversity & Inclusion:
Making the hybrid work model for your firm and clients
As the ructions of Covid-19 continue to trail two years after the pandemic started, the concept of hybrid working continues to populate law firms’ priority lists. This topic was debated in a roundtable hosted by Speech Processing Solutions’ Ryan Prins and Ben Capstick at The Lawyer’s Business Leadership Summit. The spectre of Covid-19 infections remains prevalent globally – prompting questions as to how this will play out in the future of the workplace.
The Gender Cliff Edge: The Point Where the Legal Industry Loses Female Talent
Top U.K. law firms hire far more female lawyers than male at trainee level, but there is a massive drop-off in female retention after the three-year post-qualification point, new research has found.
Undervalued lawyers more likely to suffer well-being issues, study finds
Law firms that put financial performance and productivity above all else could create unhealthy working practices that harm lawyer well-being, according to a study by Krill Strategies and the University of Minnesota’s Department of Psychiatry and Behavioral Sciences.
Addressing the Burgeoning Culture Crisis in the Legal Sector
New research from the CIPD Health and Wellbeing at work 2022 report shows that almost half of employees strongly agree that health and wellbeing activity at work encourages a more inclusive culture. However, the same report reveals that there has been a 16% drop in management focus on health and wellbeing in the workplace compared to the first year of the pandemic.
Herbert Smith Freehills named principal legal partner of Sydney WorldPride
Herbert Smith Freehills has been named the principal legal partner of next year’s WorldPride festival taking place in Sydney. HSF will provide the Sydney WorldPride event organisers with legal advice and support ahead of festival, which takes place between February 17 and March 5 next year in conjunction with the 2023 Sydney Gay & Lesbian Mardi Gras.
Pride Stories
My Pride Story: I had to hide that I was a gay mum for many years
My Pride Story: Coming out to someone new was always a choice. Then I had a child.
My Pride Story: Out in the office
My Pride Story | Legitimacy: we have it. Next stop: authenticity.
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