Ukrainian Conflict Legal Developments:
London-based partner duo at leading Russian firm announce resignations and office closure
Arbitration specialists James Dingley and Baiju Vasani of Ivanyan and Partners have announced that they are leaving the firm and officially closing the firm’s London outpost.
Mannheimer Swartling withdraws Swedish lawyers from Moscow office and plots ‘orderly exit’
A statement issued by Mannheimer yesterday said the firm has ‘suspended’ its operations in Russia ‘with immediate effect’ while it analyses whether it can exit the Russian market ‘in an orderly manner’ with respect to its Scandinavian clients and Russian employees.
Kennedys to close Moscow office as pressure grows on firms to ditch clients with Kremlin links
Kennedys’ global senior partner, Nick Thomas, revealed today that the international insurance law specialist has been quietly winding down its small Moscow arm since last year.
Norton Rose Fulbright’s leadership moves to draw line under Russian sanctions memo controversy
Norton Rose Fulbright’s (NRF’s) leadership team has issued a public statement expressing its ‘unequivocal’ opposition to the Russian invasion of Ukraine in a bid to draw a line under controversy surrounding an internal memo telling lawyers not to comment on Russian sanctions.
Allen & Overy pledges to refuse new Russia-related instructions
In a lengthy statement posted on LinkedIn, the firm also promises to ‘support governments around the world in their response to this senseless invasion’.
The UK Government announced on Thursday it intends to sanction VTB, hitting it with a full asset freeze. “Individuals and companies whose assets are frozen will be unable to undertake any business in the UK or with UK nationals”, the Government said. Running parallel to US sanctions, it is believed that these will be the single biggest sanctions handed against a single entity in history.
The announcement of tough sanctions on Russian entities will have huge ramifications for those London firms that have got plump on big-ticket mandates for Russian individuals or state-backed institutions. In contrast to the Russian buying spree, governmental support for the Ukrainian judiciary was an open-hearted project for the good of civil society and development of trust. And indeed, over the last decade Kyiv has developed a strong commercial legal infrastructure with a raft of independent outfits such as Asters, Kinstellar and Sayenko Kharenko among others that regularly partner with Western firms on commercial deals and disputes.
Skadden’s relationship with Chelsea is under the microscope
This is a client relationship which spans decades. Skadden vacation schemers are offered two-week placements at the club and it’s almost a cliché now to mention former London managing partner Bruce Buck’s illustrious tenure as Chelsea chairman. Buck joined the Chelsea board as a director in 2003, immediately after the deal to buy Chelsea was signed, and stepped down from Skadden in 2014.
Houthoff ditches Kremlin as client over ‘acts of war by the Russian Federation in Ukraine’
Leading Dutch law firm Houthoff is ditching the Kremlin as a client in response to Russia’s invasion of Ukraine in a move that will deprive its arbitration team of one of its most high-profile relationships.
CMS Partner Criticised In UK Parliament for Alleged Russia Ties
CMS partner Geraldine Proudler was among three lawyers named in U.K. Parliament on Tuesday by a Member of Parliament speaking out against solicitors working for Russian clients.
Ashurst Suspends All Russia State Links as More Law Firms Take Action
The firm said that it will no longer accept instructions from “new and existing” Russian state clients, as international businesses come under growing pressure to address their ties to the Kremlin.
Top Ukrainian business lawyer calls on international firms to quit Moscow as he helps defend Kyiv
The managing partner of Ukrainian law firm Vasil Kisil & Partners is preparing to help defend Kyiv from Russian troops as he calls on international law firms with Moscow offices to pull out in order to put more pressure on the Putin regime. Speaking to The Global Legal Post by telephone today from his office in Kyiv, Andriy Stelmashchuk said he was assisting in the defence of the capital by delivering food and medicine to the army and territorial defence units.
CC and Eversheds latest to announce Russian client reviews
Clifford Chance will not accept new work from Russian state-controlled entities or ‘individuals identified as having close connections to President Putin’ as it reviews all of its existing Russia-linked work, the magic circle firm announced today.It became the latest leading firm to announce a review of existing Russian clients after City firm Eversheds Sutherland said it is currently ‘finalising an extensive review of our existing client work’, as well as reviewing its new client acceptance procedures.
Moves:
Covington hires City partner from Weil Gotshal
Mark Thompson, Private Equity partner, has joined Covington & Burling as co-chair of its global practice.
Sidley Austin adds private equity strength in London with Dechert partner hire
Robert Darwin, Private Equity and M&A specialist, joins Sidley Austin from Dechert.
Mishcon expands its real estate practice with new partner hire
Lee Foxcroft joins Mishcon de Reya from Slaughter and May.
Squire Patton Boggs adds European white collar head as part of group hire in London and Paris
Hannah Laming has joined Squire Patton Boggs as the head of its European government investigations from Peters & Peters. Wayne Barnes and Ben Ticehurst have also joined from Fulcrum Chambers and Howard Kennedy respectively.
Deloitte Legal appoints new partner for data privacy, cybersecurity and telecoms
Cavan Fabris joins Deloitte’s London office from EY.
Maged Girgis and Andrew Bradley, currently ay Minter Ellison, will join HSF’s Sydney office.
Shearman & Sterling expands capital markets offering in Asia as Wanda Woo re-joins
Wanda Woo rejoins Shearman & Sterling after being at Kirkland & Ellis and Wilson Sonisi for a total of four years.
Zdeněk Kučera and his TMT team join Dentons in Prague
Zdeněk Kučera and three associates have joined Dentons from Kinstellar.
DLA Piper (Canada) LLP welcomes Partner Jamie Mills
Jamie Mills, patent litigation specialist, joins DLA Piper’s Toronto office.
Willkie Welcomes Private Equity Partner Joe Kaczorowski to Los Angeles Office
Joe Kaczorowski joins Willkie’s Los Angeles office from Cooley, where he was a Special Counsel.
Goodwin adds New York capital markets partner Radoslaw Michalak to technology practice
Radoslaw Michalak joins Goodwin from Davis Polk, where he was a Counsel.
Schulte Roth & Zabel Strengthens Intellectual Property Capabilities
Alexander M. Kim has joined Schulte Roth’s New York office.
Colin Conklin Joins Wilson Sonsini’s Corporate Practice in San Francisco
Colin Conklin join’s Wilson Sonsini’s San Francisco office from Gunderson Dettmer Stough.
Executive Compensation, Employment & Benefits Practice rejoins Latham & Watkins
Maj Vaseghi has rejoined Latham & Watkins’ San Francisco office after two years at Freshfields.
Morrison & Foerster Adds Emerging Companies + Venture Capital Partner
Paul Navarro joins Morrison & Foerster’s Los Angeles office from Perkin Coie.
Dechert Continues Global Finance Expansion with Return of Partner Kathleen Mylod
Kathleen Mylod rejoins the firm’s global financial practice in the New York office, returning from Shipman & Goodwin.
Top White Collar Litigator Ben O’Neil Brings International Experience to McGuireWoods in D.C.
Ben O’Brien joins McGuireWoods from Vinson Elkins.
Simpson Thacher Adds Prominent Partners to Registered Funds Practice
Nathan Briggs and Nicole Simon have joined Simpson Thacher’s Washington D.C. and New York offices respectively.
Gibson Dunn Adds Antitrust Partner Sophia Vandergrift in Washington, D.C.
Sophia Vandergrift joins Gibson Dunn from Sullivan & Cromwell.
Former Acting U.S. Attorney Nathaniel Mendell Joins Morrison & Foerster in Boston
Nathan Mendell has joined Morrison & Foerster from the U.S. Attorney’s office for the District of Massachusetts.
White & Case Strengthens its Private Credit Capabilities
Vincenzo P. Lucibello has joined White & Case’s Boston office from Proskauer Rose.
Norton Rose Adds 3-Strong M&A Team In South Africa
William de Villiers and his team join from boutique frim Glyn Marais.
Litigation Practice Strengthened with Addition of Partner, Nabeel Ikram, in Dubai
Vinson & Elkins have hired Nabeel Ikram, formerly of Hogan Lovells, to their global complex commercial litigation practice.
Norton Rose Fulbright Hires Clyde & Co’s Middle East Regulatory Head
Mat Shanahan joins Norton Rose Fulbright from Clyde & Co.
Reed Smith appoints leading media and technology partner in Singapore
Bryan Tan has joined Reed Smith’s Singapore office from Pinsent Masons MPillay, Pinsent Masons joint law venture in Singapore.
Morgan Lewis will expand global tax capabilities with duo from Singapore’s tax authority
Kai Lee Lau joins Morgan Lewis from the Inland Revenue Authority of Singapore (IRAS).
Brian Ho joins the transactional group at Kirkland & Ellis in their Hong Kong office.
Promotions & Appointments:
CD&R hires senior Clifford Chance partner as European adviser
Private equity giant Clayton Dubilier & Rice (CD&R) has appointed Clifford Chance partner Simon Tinkler as its new senior legal advisor.
Office Openings & Closings:
Osborne Clarke hires 30 lawyers from Polish firms for Warsaw launch
The new office will be led by co-managing partners Olgierd Świerzewski and Tomasz Olkiewicz, while the wider team will comprise a total of six partners, including four from Polish accountancy firm MDDP, as well as 24 lawyers and four business support staff, according to a statement. Most of the new team join from MDDP, while the rest arrive from a crop of local law firms.
White & Case opens office in Luxembourg; adds Arnaud Cagi-Nicolau as a partner
Global law firm White & Case LLP has announced the formal opening of an office in Luxembourg and the expansion of its Global Mergers & Acquisitions Practice with the addition of Arnaud Cagi-Nicolau as a partner in Luxembourg.
No5 Barristers Chambers relocates to Savoy Court
Barristers at one of the UK’s largest chambers will be able to hot-desk at No5’s new Savoy office, as its Salisbury Court base faces demolition.
Jenner & Block Takes More London Office Space as it Plots Further Growth
The firm has signed a lease to move from its existing space at Tower 42 to 13,000 square feet of offices at 10 Exchange Square in Broadgate.
Financials:
Reed Smith PEP jumps to $1.7m after double-digit growth
Turnover increased nearly 10% in 2021, hitting $1.44bn, while PEP rose 13% to $1.7m.
Shakespeare Martineau launches Scottish training contract
The firm is currently taking applications for two trainee positions in its Glasgow office, one to start later in 2022 and one in 2024. The bulk of the training contracts will be in the commercial property group. They will earn £23,000 in their first year and £26,000 in the second year.
Cooley Revenues Approach $2B in a Major Growth Year
Cooley’s revenue climbed 28% to reach $1.97bn, while the PEP rose 27.9% to hit $4.06m.
Technology & Innovation:
RPC offloads insurance software business RPC Tyche to Aon
Top 40 UK law firm RPC has sold its global insurance software business RPC Tyche to Aon, exiting the company it jointly owned with software and consultancy firm Marriott Sinclair.
“Oligarchs can add privacy to their defence toolbox”: Reaction to the Bloomberg decision
Last month the Supreme Court decided to dismiss Bloomberg’s appeal against a claim brought over the misuse of private information. The case concerned an article about businessman ZXC, who argued that a story about his being under criminal investigation was an invasion of his privacy.
Diversity & Inclusion:
Bird & Bird extends working from home to students
From this summer, students on Bird & Bird’s vacation scheme will be asked to work at least one day a week from home as the firm looks to make elements of remote learning introduced during the pandemic permanent.
A senior associate surmised the mood in March 2021 by writing, “The best help would really be ‘role-model’ setting by people within the firm that childcare responsibilities take precedence to a reasonable degree over work, rather than vice versa. Some partners are good about this but the firm isn’t that great at proactively promoting this culture I think for fear that it will be seen as overriding ‘clients come first’, which for any sensible parent isn’t right – it should usually be ‘kids come first’.”
The Lawyer has created a live blog to capture important developments occurring in Ukraine, particularly how it relates to the legal world. So far, many international firms such as Baker McKenzie, Dentons, and CMS have closed their Kyiv offices, with Central and Eastern European firms like Kinstellar doing the same.
Ropes & Gray have established a pro-bono support group to provide legal assistance to individuals and families in Ukraine. The group will be led by Boston-based employment partner Jenny Rikoski; in 2019 she represented families affected on the southern border of the United States during the US government’s ‘Zero Tolerance’ policy for controlling the country’s borders.
This week:
Moves:
Magic circle retail finance lawyer returns to Eversheds Sutherland
Joanne Owens returns to Eversheds Sutherland after being at Allen & Overy for five years.
International Arbitration specialist Alexander Slade joins Mishcon de Reya
Alexander Slade joins Mishcon de Reya from Vinson Elkin.
Kirkland antitrust partner exits for Ropes
Annie Herdman, EU & Competition Partner, joins Ropes & Gray from Kirkland & Ellis.
Akin Gump loses restructuring partner to Gleiss Lutz in London
Christian Halasz joins the Stuttgart-headquartered firm after seven years with Akin Gump.
Ince welcomes James Channo to London Corporate team as Partner
James Channo, formerly of Fox Williams, joins Ince’s corporate team.
Goodwin bolsters UK real estate platform with partner Eric Lim
Eric Lim will join Goodwin’s real estate industry practice on March 1.
Elizabeth Dryer, Thomas Bednar, and Sophie Smith have joined the New York, Washington, D.C., and London offices respectively.
Expanding our Real Estate presence in Paris with a team hire
Patrick Gerry, Real Estate Partner, joins Eversheds Sutherland’s Paris office from Ashurst.
Baker McKenzie expands corporate practice in Frankfurt
Dr. Katharina Stuber is set to join Baker McKenzie from Allen & Overy in March.
Herbert Smith Freehills has hired US securities partner Xavier Amadei
Xavier Amadei joins Herbert Smith Freehills’ Singapore office from Baker McKenzie.
Cross-Border Disputes Attorney Nanyi Kaluma Rejoins Willkie in Brussels
Nanyi Kaluma has rejoined Willkie in Brussels after 15 years at Allen & Overy.
Litigator Andrew Russell Joins McGuireWoods’ Labor & Employment Team in California
Andrew Russell, formerly of Fox Rothschild, joins McGuireWoods in their Century City office.
Davis Polk secures Ropes & Gray’s M&A leader in Menlo Park
Paul Scrivano is the latest partner to join the Wall Street firm after it ditched its pure lockstep to go on the recruiting offensive in 2020.
King & Spalding hires Hogan Lovells’ Middle East practice group leader in New York
Samaa Haridi joins the Atlanta-based firm after secen years at Hogan Lovells in New York.
Hong Kong Stock Exchange hires Kirkland partner as co-head of IPO vetting
Li-Chien Wong is set to join Hong Kong Exchanges and Clearing (HKEX) as managing director and co-head of IPO vetting.
Hogan Lovells hires PwC’s Spanish regulatory head
Fernando Calancha Marzana will lead the Madrid office’s regulatory and energy practices.
Winston & Strawn Continues Expansion of Litigation Practice With Addition of Sharon Desh
Sharon Desh has joined Winston & Strawn from Bartlit Beck.
Andrew Demko has joined Mayer Frown from Katten Muchin Rosenman.
Roger Kuan, Jason Novak, Dagim Tilahun and Noble Woo have joined the Norton Rose San Francisco offices from Haynes and Boone.
Hogan Lovells continues to expand M&A practice in New York with the addition of partner Luke Iovine
Luke Iovine has joins Hogan Lovells as the fourth corporate partner to join the New York offices this month.
Proskauer Expands Regulatory Capabilities with Addition of Private Funds Partner Robert H. Sutton
Robert H. Sutton has joined Proskauer from Kirkland & Ellis.
Top Antitrust Lawyer Joshua Soven Joins Paul, Weiss in Washington, D.C.
Joshua Soven has joined Paul Weiss in Washington, D.C. from Wilson Sonsini
Orrick Continues Growth of Life Sciences & Tech Team
Tony Chan has joined Orrick’s Washington, D.C. office from Morgan Lewis.
Promotions & Appointments:
Lewis Silkin appoints first woman to chair partnership
Jo Evans, Corporate partner and D&I leader is set to take over from Michael Burd in April
Bruce Dear elected Chair of Eversheds Sutherland (International)
Bruce Dear, Head of Real Estate London, has been elected as Chair, succeeding Pamela Thompson from May.
Squire Patton Boggs elevates 26 to partner in diverse promotions round
In its latest global promotions, Squire Patton Boggs has made up 26, and 17 of them (65%) are diverse according to gender, ethnicity, or sexual orientation.
Freshfields Appoints Next Italy Managing Partner | Law.com International
Francesco Lombardo, a Milan based partner will succeed Nicola Asti, who has been at the helm since September 2015.
Former Freshfields Senior Partner Edward Braham Appointed Chair of M&G
Edward Braham has been appointed the next chair of global investment manager M&G.
Office Openings & Closings:
Hogan Lovells to move London HQ in 2026
The new HQ, located at 21 Holborn Viaduct, will cut its floor space by more than 10%.
Allen & Overy to open in Boston after hiring five-partner IP litigation team from Goodwin Procter
The team, led by New-York based Elizabeth Holland and made up of Bill James, John Bennett, Nick Mitrokostas, and Daniel Margolis, join from Goodwin Procter.
Simmons launches in San Francisco with OC hire
Emily Jones, formerly of Osborne Clarke’s Silicon Valley offices, has moved to Simmons to oversee the launch of the new San Francisco Bay offices.
Mergers & Alliances:
Pinsent Masons launches real estate practice in South Africa with boutique tie-up
Pinsent Masons has joined forces with Gunn Attorneys, a boutique law firm in Johannesburg, to launch a local property practice and strengthen its ESG capabilities in South Africa.
Financials:
Davis Polk reignites US salary war by topping pacesetter Milbank’s associate pay scale
Davis Polk has announced it will be paying it’s associates between $215,000 and $396,000 depending on seniority.
Hogan Lovells posts record financial results as global revenue jumps by 13% to hit $2.6bn
Hogan Lovell’s global revenue has grown 12,9% to $2.6bn while PEP has soared by 25.9% to reach $2.49m
McDermott Sees Second Straight Year of PEP Growth Over 20%, Hitting $3M Mark
McDermott Will & Emery’s gross revenue grew 20.5% to $1.67bn, marking a 42% total growth over the last two years.
Freshfields LLPs Remind Partners of Firm’s ‘Considerable Discretion’ Over Distributions
In the statement accompanying its accounts, published on Companies House on Thursday, Freshfields said: “While Covid-19 has not had a significant impact on the firm to date, it remains possible that the pandemic could impact demand for our services in the short term. Liquidity pressure on our clients could also have an adverse impact on the business”.
Technology & Innovation:
Gunnercooke becomes first top 200 UK law firm to take cryptocurrency payments
Gunnercooke has partnered with Coinpass to make the exchanges and will accept cryptoassets such as ether and bitcoin.
Diversity & Inclusion:
Mishcon to Fund Training Courses For Refugee Lawyers
Mishcon de Reya has partnered with Barbri Global, a legal education provider, and Breaking Barriers to help lawyers with a refugee background retrain as solicitors in England and Wales.
Diversity scheme opens door for gifted trainees
Trainee solicitors are invited to apply for a place on the profession’s Diversity Access Scheme (DAS), the Law Society of England and Wales said as it opened recruitment for the 2022 cohort.
Jefferies lawyer slams sector for ‘moving backwards’ on diversity
David Winterfeldt QC, Jeffries top lawyer for EMEA and Asia, has sounded a scathing note about the legal professions progress on diversity.
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The Global Legal Post has compiled a comprehensive timeline to track the development of firms environmental, social, and governance initiatives globally. Most recently, De Berti Jacchia became the first Italian firm to become an official partner of ESG standards body the Global Reporting Initiative (GRI). While a number of law firms use the GRI’s standards, the only law firms listed as partners are De Berti Jacchia and Baker McKenzie.
This week:
Moves:
Shearman & Sterling Expands International Arbitration Offering
Matthew Skinner, international arbitration partner, has joined Shearman & Sterling from Jones Day.
DAC Beachcroft hires charity law partner to its market-leading health sector practice
Emma-Jane Dalley joins DAC Beachcroft from Veale Wasbrough Wizards, where she headed the charity sector at the firm.
Mishcon de Reya—David Whittaker
David Whittaker will join the firms tax and wealth planning group from Baker McKenzie.
Matthew Griffin joins Mayer Brown’s investment funds practice in London
Matthew Griffin, formerly of White & Case, joins Mayer Brown.
Pinsent Masons appoints third life sciences partner in Amsterdam
Judith Krens, life sciences patent specialist, moves from Taylor Wessing to become the 5th partner appointed in the Amsterdam Office.
Herbert Smith Freehills Hires Four-Strong Corporate Crime and Investigations Team in Milan
Enrico Maria Mancuso joins the firm from Pedersoli, bringing with him Federico Bracalente, a senior associate, associate Marco Mariotti, and trainee Sofia Ricasola Firidolfi.
SEC Veteran Kelly Gibson to Join Morgan Lewis
Morgan Lewis has continued to expand its bench of former government officials with Kelly Gibson, who will join the securities enforcement team.
Reed Smith welcomes highly-touted NY real estate finance team
The 5-partner strong team of Randy Eckers, Michael Estreicher, Talia Martin, Alexander Sokoloff, and Samuel Lee have joined Reed Smith from Akerman LLP, bringing 5 associates and 1 consultant with them.
Ashurst’s investment funds lead in Madrid heads to local firm
Josefina Garcia Pedroviejo joines Perez-Llorca from Ashurst to lead its financial services practice.
Securities & Capital Markets and Fintech Leader Joins Paul Hastings
Chris DeCresce joins Paul Hastings New York office as the Vice Chair of the securities and capital markets practice from Covington & Burling.
Allen & Overy adds another Akin Gump energy partner in Washington DC
Allen & Overy have hired George Cannon, Akin Gump’s head of energy regulation, markets, and enforcement in Washington, D.C.
Former FINRA Principal Counsel Deborah Renner rejoins Dentons in New York
Deborah Renner, commercial litigation expert, will rejoin Dentons as a partner.
Growing our Data Centre experience and capability- News – Eversheds Sutherland
Eversheds Sutherland has hired Sebastian Bonneau from Winston & Strawn to boost their data centre experience for their clients.
Linklaters M&A New York Duo Jump to Hogan Lovells
Peter Cohen-Millstein and Megan Ridley-Kaye have joined Hogan Lovells’ energy and natural resources group.
Deal Lawyer Katie Hull Joins McGuireWoods’ Global Private Equity Team in Dallas
Katie Hull, formerly of Sheppard Mullin, joins McGuire Woods.
Leading Private Equity Finance Partner Joins Latham & Watkins in New York
Stephanie Teicher has joined Latham & Watkins from Skadden Arps in New York.
Dentons welcomes back Crystal H. Walls to Real Estate practice in Birmingham
Crystal Walls rejoins Dentons after being the Assistant General counsel at Bayer Properties for three years.
DLA Piper has hired Matthew Jacobs and Jessica Heim into their San Francisco office.
Promotions & Appointments:
In the Singapore office, Clarinda Tija-Dharmadi has been appointed as the Asia Chair of the Transactions Practice to lead the Pan-Asian build out of its energy and infrastructure practice.
Dentons hires new ESG head from Hogan Lovells
Dentons has appointed Aragon St-Charles as its first global head of ESG, joining from Hogan Lovells Tokyo office.
Ashurst extends CEO’s reign until 2026
CEO Paul Jenkins will continue to lead the firm for another four years, alongside recently-appointed chair Karen Davies.
Australia’s Xakia Technologies hires UK legaltech entrepreneur to lead EMEA growth
UK-based Dan Wales has joined Xakia Technologies to support their expansion across the EMEA region.
Office Openings & Closings:
Three Crowns secures Shearman & Sterling’s Singapore head to launch first Asia office
Three Crowns has hired Daryl Chew, head of Shearman & Sterling’s Singapore office, to lead the launch of their first Asia Pacific office.
Fieldfisher Launches Mass Litigation and Legal Tech Unit in Germany
“Fieldfisher X”, a dedicated legal tech unit, has launched n Berlin with five lawyers and three partners, with the expectation of growing the unit to 50 people.
HFW hires leading shipping lawyer for Denmark launch
HFW has launched in Denmark with the hire of leading shipping Lawyer, Jens Mathiasen.
Dykema hires two litigators from McCathern to spearhead Houston launch
Detroit-based Dykema Gossett has hired Isaac Villareal and Andy Green, two business litigators, to launch their fifth Texas office and 14th in the US.
Ashurst overhauls Glasgow office in post-pandemic redesign
The Glasgow hub has been redesigned in a way which reduces the overall desk capacity by 40% as the firm reinvents how the office will be used in conjunction with hybrid working.
Bennani & Associés moves into Central Africa with Kinshasa office launch
African regional firm Bennani has opened an office in the Democratic Republic of Congo, its fifth office across the continents Francophone countries.
Financials:
White & Case posts double-digit growth as City revenue nears $450m
The firm’s Old Broad Street office has recorded $445m in revenue, up 12% from last years’ $397m. This growth was mirrored across the firm’s 45 global offices in 31 countries.
Fried Frank ups NQ pay by 10 per cent
The US Firms London salary figure will now stand at £160,000, rising from £145,000.
Eversheds NQs: Regional salaries rise by a quarter in latest hike
Eversheds NQ salaries will rise in London by 15.8% to £95,000 and in the regions it will increase by 24% to £62,000.
Squires’ City NQ pay rises to £95,000
Squire’s London NQ salaries will increase by 12% to £95,000 and in the regions it will increase by 10% to £55,000.
Dechert boosts NQ salary by 12 per cent
Dechert have raised NQ salaries 12%, to £140,000, putting them on par with White & Case.
Technology & Innovation:
In-house legal teams are taking on more tech-related responsibilities, new survey finds
About 97% of in-house counsels believe they have taken on more responsibility within their company’s tech ecosystem.
Heavyweight Trio Helps Meta Clear Regulatory Hurdle In $1B German Acquisition
Hengeler Mueller, Slaughter and May, and Hogan Lovells have helped Meta clear a major regulatory hurdle in Germany as the company finalizes its near $1bn acquisition of customer service platform Kustomer.
Diversity & Inclusion:
Simmons & Simmons’ new disputes head sets out training plans
This scheme adopts a bottom-up approach, allowing trainees and associates to pick the training that suits them at dispute resolution townhalls twice a year.
More than 20 regional and national Canadian law firms have sent an open letter to the federal government, calling on them to uphold their commitments to resettle refugees from Afghanistan in Canada.
The market is still on fire and has no signs of slowing down, with an abundance of moves and strategic office openings being announced, all while the NQ salaries rocket upwards.
The Irish market is the next frontier for law firms, with both Bird & Bird and Addleshaw Goddard announcing their office openings and mergers, respectively.
NQ salaries are surging forward in both London and the Regions, and there is a great debate emerging on this front. The consensus is that this accelerated rate of growth cannot be sustainable, and that it is creating a bubble that is doomed to pop.
This week:
Moves:
Wilson Sonsini builds in London with hire of EY’s global head of tech law
Richard Goold, formerly Head of Tech Law at EY, has joined tech and life sciences firm Wilson Sonsini.
Shearman & Sterling adds Hogan Lovells dealmaker in London
Maegan Morrison, corporate finance partner, joins Shearman & Sterling from Hogan Lovells.
Dentons hires Addleshaws banking partner
Manchester-based Simon Prendergast, a banking and finance partner, will join Denton’s London office.
Revolving doors: Major restructuring hire for Bakers in London
Baker McKenzie has hired Sarah Smith, restructuring and insolvency partner, from Dechert. She is tasked with expanding Baker’s restructuring and insolvency internationally.
Irwin Mitchell has announced the appointment of new partner Matthew Sillett into its London office.
Matthew Sillet, commercial partner, joins Irwin Mitchell from Cannings Connolly, where he was the managing partner.
Charlotte Garnitsch returns to Taylor Wessing and is appointed partner
Charlotte Garnitsch, IP partner, returns to Taylor Wessing’s Eindhoven office, after leaving the legal profession for one year.
K&L Gates continues to grow its Australian labour, employment and workplace safety team
Dominic Fleeton returns to K&L Gates’ Melbourne office after three years at Kingstone Reid.
Leading White Collar and Corporate Compliance Partner Joins Baker Botts
Michael W. Ward joins the litigation department in Palo Alto, moving from Vinson Elkins.
Seasoned FDA regulatory and compliance partner joins Reed Smith in Austin
Rebecca Jones McKnight, formerly with DLA Piper, joins the life sciences health and industry group in Austin.
Paul D. Moak is Reed Smith’s newest partner in Houston
Paul Moak, a leading restructuring an bankruptcy lawyer, joins Reed Smith’s Houston office from Gray Reed.
Promotions and Appointments:
Slaughter and May names new heads of corporate and M&A
Simon Nicholls and Richard Smith have been elected the next heads of corporate and M&A, replacing Andy Ryde and Roland Turnill.
Micro Focus hires new legal chief from Bupa
Janet McCarthy has joined Micro Focus as the new chief legal officer after 4 years at Bupa.
DWF’s Leeds head steps down after one year
Allison Page, a partner who specializes in infrastructure projects and energy, has stepped down as DWF’s managing partner in Leeds after one year in the role.
Stephenson Harwood Refreshes Dubai Leadership With Duo Hire
Stephenson Harwood has hired Rania Tadros, marine law specialist, to take over as Dubai managing partner from Sharon White.
Mergers and Alliances:
Addleshaws merges with 25-partner Irish firm
Addleshaw Goddard has merged with Eugene F Collins. All partners and staff will join Addleshaws, this plans to double the firm’s presence in the region by 2025.
Office Openings and Closings:
Bird & Bird becomes latest UK firm to launch in Dublin
Bird & Bird’s new office is set to open this summer, and will initially focus on privacy, data protection, tech, life sciences, IP and corporate law.
Kennedys continues pandemic expansion, doubles Madrid office space
Insurance law firm Kennedy’s is doubling its office space in Madrid for it’s 15-person strong team, as part of the WorkWise global workspace transformation programme.
Offshore Law Firm Debuts in Beijing
Ogier, a Jersey-based firm has launched in Beijing through a representative office, just months after having launched in Singapore.
PwC Legal Opens Office in Qatar
PwC Legal Middle East has launched an office in Doha, adding to their presence in the UAE and Saudi Arabia.
Financials:
The salary debate: This is how much clients think an NQ is worth
A growing number of clients believe that the scale of salary increases for NQ’s masks underlying problems in the way top tier legal services are delivered.
NQ Pay Bubble Isn’t Sustainable and Will Soon Burst, Partners Say
Partner have begun to ask for a cap on NQ salaries, with 95% of respondents to the survey answered that they did not believe the continued annual growth of NQ salaries could continue, and 67% also said they expected the bubble to burst within two years.
Bryan Cave Leighton Paisner Sees Profit Hike Alongside Equity Partner Exits
BCLP saw revenues increase by 2.1% and PEP increase by 29%, but this comes with headcount dropping. Overall headcount fell by 3.6% and the number of equity partners decreased by 14.7%, which is in line with the goals of their Project Advance.
There’s a retention glitch at Clifford Chance
Clifford chance has posted the lowest retention rate for 2022 at 70% – 14 of their total 46 trainees are deciding to leave – the equivalent to a minimum £1.5m million investment leaving the business.
DLA has just set off a regional pay war
DLA Piper has increased it’s London NQ Salary by 8% to £95,000 and it’s regional pay by 35% to £65,000.
Technology and Innovation:
Artificial intelligence and the art of noise over substance
Artificial intelligence initiatives have been a way for firms to draw in prospective clients by setting themselves apart from the rest, but is it becoming as “innovation theatre”?
Eversheds Sutherland to Donate Percentage of Profits to ESG
Eversheds has unanimously voted through the changed in December, for a minimum of 1% of the business’ net operating profit to be donated to environmental, social, and corporate governance initiatives, which include reducing internal carbon emissions and charitable trust donations.
Preparing for Europe’s Unified Patent Court
The establishment of the European Unified Patent Court is being finalized, and is set to be operational in about one years’ time.
Diversity and Inclusion:
Freshfields To Offer Paid Menopause Support For First Time
Freshfields has become the newest firm to roll out a UK menopause policy for its colleagues, including paid time off, effective from February.
The SQE is not living up to its promise on diversity
The discrepancy between white candidates who passed the SQE (65%) and those from minority ethnic groups (44%) poses concerns to the future of diversity within the legal profession.
Law Firm Diversity: Five Reasons for the Slow Progress
Michelle Silverthorn, attorney, founder, and CEO of Inclusion Nation, spells out five reasons why many law firms are failing to make progress on diversity, equity, and inclusion.
The SRA has issued new guidance for law firms looking to promote positive working environments.
In January, there were a total of 41 partner hires in London at the top 50 UK and US firms, which is significantly higher than January 2021, where there were only 29 hires. This January, 44.27% of the hires were women, and 38% of the hires were senior associate/counsel to partner hires. 9 of the 11 promotional hires came from Allen & Overy, Clifford Chance, or Linklaters (Legal Monitor).
January also saw some big moves happening in the Bar, with Miranda Butler and James Hanham joining Landmark Chambers, Ratan Singh and Alexandra Bodnar moving to Keating Chambers, Naomi Dean and Lucey Coulson going to No5 Barristers’ Chambers, and Lucy Burrows and Lara Quir moving to 3 Verulam Buildings and Twenty Essex Respectively.
This week:
Moves:
Stephenson Harwood hires three partners for key practices
Simon Bollans returns to the technology practice from Osborne Clarke; Philip Prowse joins the marine and international trade practice from HFW; and, Rustum Shah joins to lead the Islamic finance practice in Dubai from Hogan Lovells.
Former SFO director joins US litigation firm
David Green QC, former director of the Serious Fraud Office, is joining Cohen & Gresser as a partner in the white-collar defence and regulation group.
Anthony Colegrave joins White & Case as a partner in London
Anthony Colegrave joins White & Case’s global capital markets practice and Africa practice from Allen & Overy, where he was a Counsel.
Corporate partner joins Simmons & Simmons in Frankfurt
Klaus Banke, corporate M&A partner, has joined Simmons & Simmons’ Frankfurt office.
Lars Raedschelders has joined Fieldfisher’s Brussels corporate practice from Moore Law.
Carlo Meert Joins White & Case as a Partner in Brussels
Carlo Meert joins White & Case’s global M&A practice from Cleary Gottlieb, where he was a counsel.
Allen & Overy continues growth of U.S. Restructuring practice with partner Robin Spigel
Robin Spiegel, banking and restructuring partner, has joined Allen & Overy’s New York office from Baker Botts.
Jacquelyn Kasulis Joins Kirkland & Ellis as Partner
Jacquelyn Kasulis, former acting US Attorney for the Eastern District of New York, has joined Kirkland & Ellis’ government, regulatory, and internal investigations group.
Mayer Brown partner exits for Morgan Lewis
In the first lateral hire of the year for Morgan Lewis, Merryn Craske, securitisation and structured finance partner, joins from Mayer Brown.
Promotions and Appointments:
HFW names global aviation head as next senior partner
Giles Kavanaugh, global head of aviation, has been named as Richard Crump’s successor.
DWF Latest To Announce Bumper Promotions Round
DWF has promoted 17 lawyers to partners, and 17 existing partners have been promoted within the partnership structure. Of the 34 total, 27 were within the UK, and 12 within the city of London.
Clifford Chance becomes final magic circle firm to publish spring retention
Clifford Chance’s trainee retention is at 69.6%, with 32 of the 46 trainees accepting the newly qualified roles.
Former BT lawyer joins Cancer Research’s legal team
Liz Walker has been appointed as Cancer Research UK’s interim general counsel and company secretary nearly 2 years after leaving BT.
Bird & Bird Triples London Management Team
Nick Perry will step down in May, and replacing him will be Phil Sherrell, the current head of international media, entertainment, and sport sector, Matt Bonass, head of corporate in London, and Zoe Feller, a tax partner.
EY’s former global climate change and sustainability lead joins Mishcon in new advisory role
Juan Costa Climent, a lawyer and former Spanish government minister, has joined Mishcon de Reya to lead a policy role in its sustainability business, Mishcon Purpose.
Mergers and Alliances:
Listed UK firm Knights acquires York independent Langleys for £11.5m
Knights has acquired Newcastle-based Langleys Solicitors for £11.5m to promote its strategy to grow nationwide through targeted acquisitions that are a strong cultural fit with the firm.
Office Openings and Closings:
Natasha Harrison unveils London litigation firm after mass defection from Boies Schiller
Natasha Harrison, formerly the deputy chair of Boies Schiller, has launched her boutique litigation firm Pallas Partners this week, pledging to create the “blueprint for a modern law firm”.
Financials:
Proskauer Sees Double-Digit Revenue, Profit Gains as Core Industry Sectors Thrive
Proskauer’s PEP rose 21% in 2021, and the revenue rose 18% to cross the billion dollar mark for the second time in the firms history.
Reed Smith Rivals Larger Firms With Pro Bono Hours Boost
Reed Smith’s London office has clocked 27,3000 hours of pro bono work in 2021, up 24% from last year, putting them ahead of the likes of Herbert Smith Freehills, Linklaters, and Baker McKenzie.
Technology and Innovation:
Legaltech firm BigHand acquires Iridium Technology to boost analytics offering
London headquartered BigHand has acquired US business intelligence and financial analytics provider Iridium Technology to create a single platform for financial and operational data.
Diversity and Inclusion:
It took me 17 years to get a training contract; here are 17 things I learned along the way…
Rawa Hussein discusses the obstacles she faced achieving her training contract.
A Mexican American is the first Latina president of Harvard Law Review
Priscila Coronado, a Californian-born daughter of Mexican immigrants, has been elected as the new president as one of the more prestigious US law journals. She is the first Latina president in the Harvard Review’s 135-year history.
Herbert Smith Freehills Partner Tops UK M&A Lawyer Rankings
Caroline Rae of Herbert Smith Freehills is the only woman on the list, and she has topped the rankings for M&A Lawyers for Deals in the UK during 2021.
It’s only January and, as evidenced with last week’s Weekly Update, the market is roaring.
This week:
Moves
Simmons expands disputes team with DWF recruit
David Kidman, a product liability partner, joins Simmons & Simmons from DWF
Orrick hires Taylor Wessing partner in first City lateral this year
Anna Humphrey, tax partner, joins Taylor Wessing from Orrick
Orrick partner takes new strategy role at OnlyFans
Keily Blair, Orrick’s cybersecurity and privacy partner, moves to OnlyFans as it’s chief strategy and operations officer
Revolving doors: CMS continues recruitment drive with IP hire
Toby Sears, patent litigation specialist, joins CMS from Allen & Overy
Mergers & Alliances
Merging with small firms is like shooting fish in a barrel
Macfarlanes and Wachtell have a friendship to watch
Promotions and Appointments
Norton Rose Fulbright unveils new-look EMEA management team
Financials
BCLP ups charge-out rates to match peers
Technology & Innovation
Linklaters clinches role for Unilever in £50bn GSK bid
Innovation is a slow-burn return for Clifford Chance
Diversity and Inclusion
First super-exam results: Half of students pass but huge diversity gap emerges
Hello and welcome to the first Fides Weekly Update of the year! Take a look at this week’s key trends, moves, and developments in the UK legal sector.
This Week:
Movers and Shakers
Moves
Kirkland & Ellis adds first London partner of 2022
James Roslington joins Kirkland’s Investment Funds practice from Libya-Analysis, a consulting company which specializes in sectors such as maritime security, oil, and energy, where he was a Director of Operations.
A&O hires City litigator from Norton Rose Fulbright
Michael Godden, former EMEA Head of Dispute Resolution at Norton Rose Fulbright, joins Allen & Overy as a Finance Litigation partner.
Kirkland & Ellis competition partner exits for Goodwin
Sarah Jordan, an antitrust specialist, joins Goodwin Procter from Kirkland & Ellis, where she will be building up the firm’s antitrust practice.
TLT enhances public sector offering with partner hire
Gemma Townley, who specialises in technology procurement and commercial contracts, joins TLT from Sharpe Pritchard
David Lewis Joins White & Case as a Partner in London
David Lewis, former Clifford Chance partner, joins White & Case’s Global Mergers and Acquisitions Practice.
Baker Botts Ramps Up Technology Sector Offering in London with New Corporate Partner
David Marshall, who focuses on private equity, venture capital, and technology M&A, joins Baker Bott’s Corporate team from Norton Rose Fulbright.
Revolving doors: New Year hiring spree gathers momentum
Emma Clark, a financial services M&A partner, and Edward Holmes, a private equity partner, join CMS from Linklaters and Clifford Chance, respectively.
Solicitor Also Moving To Will Disputes Team
Kamal Majevadia, former Sydney Mitchell Partner, joins the Irwin Mitchell Will, Trust and Estate Dispute team, which is the largest specialist national team in the UK.
Addleshaw Goddard Continues Recruitment Drive with Hire of Leading Energy Partner
Matthew Williams has joined the Infrastructure, Projects and Energy team at Addleshaw Goddard from Fieldfisher, where he was the Co-Head of the Energy and Natural Resources team.
Mergers & Alliances
Shakespeare Martineau joins forces with South East firm in 2022’s first merger
Weightmans strikes merger deal with RadcliffesLeBrasseur
Office Openings & Closings
Shoosmiths launches new outpost in Belgian capital
Promotions and Appointments
Norton Rose Fulbright unveils bumper round of 54 promotions
Six City lawyers get the nod in Reed Smith promos
Gideon Moore appointed Chief Legal Officer and General Counsel
Standard Chartered appoints Dr. Sandie Okoro as Group General Counsel
Financials
Acquisitions lead Knights’ H1 revenue to rise by nearly a third
Technology & Innovation
Wise general counsel moves to Santander-backed fintech
Quinn scores new competition mandate on bumper Facebook claim
Data companies are having to re-asses their operations following the decision by the Court of Justice of the European Union (CJEU) which has ruled the privacy shield framework as invalid. Standard Contractual Clauses (SCC’s) are still adequate, however questions remain over the longer-term implications.
Now that we as individuals and companies are more than even depending on a globally connected world, companies in the EU will have to consider whether the host nation of the company they are sharing data with is operating under the same data transfer rules as the EU.
Some feel that this will effectively hamstring European international companies but there is also the potential that this makes having an EU location more valuable than previously assumed.
The concept of the EU becoming a data island was mentioned on the IAPP website and is looking increasingly possible as the decision by the CJEU only related to US data transfers. It could actually have an effect on data transfers anywhere outside of the EU. Data Protection Authorities now have to decide whether to potentially halt all data transfers outside of the EU. Which is a massive undertaking and in turn creates grey areas for data transfer like never seen before.
Will the UK post Brexit create their own framework in the mould of a privacy shield granting licenses for confirming companies or fully align with the EU?
Many questions remain on this topic, the decision is made, and the void is created between that and the solution.
Mathew is a Consultant at Fides Search. He dedicates his time to working with clients on their key strategic hires within TMT. To find out more get in touch with Mathew:
Mobile: +44 (0) 7391 405 563 | Direct Dial:+44 (0) 20 3642 1874 | mathew@fidessearch.com
Hello and welcome to the Fides Weekly Update. Take a look at this week’s key trends, moves and developments in the UK legal sector.
Tweet us @Fides_Search to let us know your thoughts.
This week:
1). Movers & Shakers
Panel Watch
UK Government Unveils Multimillion-Pound Legal Panel for Post-Brexit Trade
National Grid to Cut Legal Panel
Seven firms in the spotlight for SSE panel review
Appointments
Slaughters ‘Best Friend’ Firm De Brauw Appoints New Managing Partner
Moves
Taylor Wessing Rehires Pinsents Middle East Head
Taylor Wessing has reclaimed its former Dubai office head Osama Hassan from Pinsent Masons, seven years after he left the firm
Fieldfisher loses third life sciences partner in four months
IP and life sciences partner Beatriz San Martin makes the move to Arnold & Porter
Arnold & Porter Hires Former EU Medicines Agency Adviser
Arnold & Porter has hired a former legal adviser to the European Medicines Agency Alexander Roussanov as a partner in the firm’s life sciences and healthcare regulatory practice
Quinn Emanuel Swoops for Latest London Partner Recruit
Hogan Lovells litigation partner Julianne Hughes-Jennett has left the firm to join Quinn Emanuel Urquhart & Sullivan in London
Office Openings & Closings
Andersen Global Enters Five New European Markets, Plots Five More
Inclusion & Diversity
Freshfields to Establish ‘Conduct Committee’, Partners Could Face 20% Pay Penalty for Bad Behaviour
Ex-DLA Piper Partner Blasts Assault Claims As Second Woman Comes Forward
Slaughters Introduces Mental Health and Wellbeing App
Other
ULaw dumps BPTC for new “more flexible” bar training course that’s nearly £6,000 cheaper
Hello and welcome to the Fides Weekly Update. Take a look at this week’s key trends, moves and developments in the UK legal sector.
Tweet us @Fides_Search to let us know your thoughts.
This week:
1). Investment into Legal Tech triples in 2018, reveals report
Investment into UK legal tech start-ups rose to £61m in 2018, a considerable increase from £22m the previous year, according to a Thomson Reuters report released this week.
The increase in investment is all the more drastic when investment trends are considered over the past five years, with only £1.5m invested into legal tech companies in 2014. Moreover, the cash influx shows no signs of abating, with 2019’s investment already standing at £62m.
‘The legal market is accelerating its adoption. You don’t see the same valuations in the US as you do in the UK. It feels the UK is slightly ahead in its adoption of technology’ explained Thomson Reuters vice president of customer markets Jim Leason.
This year’s figure is bolstered by leading companies increasingly landing hefty funding rounds. Machine-learning company Tessian, which looks to protect firms from data breaches, raised £33.5m in early 2019 following its expansion into the US. Elsewhere, AI company Luminance raised a further £8m this year, with Magic Circle firm Slaughter and May among those who contributed to the funding.
The Thomson Reuters report also details how Big Law’s increasing tendency to set up technology incubators is fuelling investment, with alumni of such programmes among the most successful companies in the market. The industry’s more prominent incubators are A&O’s Fuse; Mishcon de Reya’s MDR LABS; Slaughter and May’s Collaborate; Dentons’ NextLaw Lab and Barclays’ Eagle Labs.
The report, created in collaboration with legal technology community Legal Geek, can be found in full here.
2). Movers & Shakers
Moves
Barclays Europe Litigation Head to Join Boies Schiller
Barclays’ head of litigation, investigations and regulatory enforcement for Europe and the Middle East (EME) Tracey Dovaston is to join the London office of Boies Schiller Flexner as a partner in January 2020 to build the firm’s regulatory, investigations and litigation practice.
Kirkland lures another Linklaters Tax partner
Tax partner Mavnick Nerwal is the latest to join the US firm
Deloitte Legal hires new Legal Engineering Lead
Catherine Bamford, CEO of BamLegal, a consultancy that provides automation services to the legal sector, is to join Deloitte Legal. This follows the hire of Bruce Braude as chief technology officer from BCLP and Laura Bygrave as innovation head from Taylor Wessing
DWF Launches Regulatory Consulting Business with Two Accountancy Hires
The listed firm has hired BDO partner Andrew Jacobs and Grant Thornton associate director Darren Fisher to lead the new business, DWF Regulatory Consulting
Weil Lures Finance Partner from Kirkland in Hong Kong
Daniel Abercromby is Weil’s first Hong Kong partner hire in four years
Heavyweight A&O New York Finance Partner Duo Quit For Shearman
The Magic Circle firm’s U.S. leveraged finance group co-heads – partners Alan Rockwell and Michael Chernick – have left to join Sherman.
Akin Gump Adds London Private Equity Partner from Orrick
Private equity partner Weyinmi Popo is set to join Akin Gump’s London base next month
Mergers & Alliances
Litigation Funder IMF Bentham to Merge With Omni Bridgeway
Office Openings & Closings
DAC Beachcroft UK latest to Make Brexit Contingency Move with Paris Plan
Financials
K&L Gates Boosts LLP Profits and Revenue as Partner Numbers Fall
Pinsent Masons Delays Partner Profits Pay-out
Inclusion & Diversity
Clifford Chance Will Help Challenge Anti-LGBTQ Laws through New Global Inclusion Head
Mayer Brown Partner to Chambers: Include More Women or Leave Me Out
HSF Targets Autistic Recruitment in London and Belfast
What the Beckwith Hearing Taught Us about Freshfields’ Work-Hard Play-Hard Culture
Shearman in global overhaul of how firm assesses its staff
Technology and Innovation
PwC Legal Arm Partners With Legaltech Startup
KPMG Legal Arm Expands Eastern European Offering With Tech Firm Tie-up
More Than 100 US Law Firms Report Data Breaches
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