Moves:
UK & Ireland
Morrison Foerster secures senior Bank of England adviser to bolster London fintech offering
Top 40 US law firm Morrison Foerster (MoFo) has hired a Bank of England senior adviser to boost its financial services and fintech offering in London.
Macfarlanes invests in funds team with partner hire from Sidley Austin
Top London independent law firm Macfarlanes has hired a highly rated investment funds partner from Sidley Austin in London.
Simpson Thacher Hits Travers As Firm Suffers Another Blow
U.S-headquartered firm Simpson Thacher & Bartlett has hired a London financial regulatory partner from Travers Smith, in the latest blow to the U.K. firm. Stephanie Biggs, who will co-lead the firm’s European financial services and funds regulatory team at Simpson Thacher alongside partner Owen Lysak, had been a partner in Travers’ financial services & markets department for eight years
Corporate and Real Estate Teams See Partnership Influx
Three firms have hired into their corporate, funds and real estate practices, amid a busy London lateral hiring market. Bryan Cave Leighton Paisner has added to its London partnership with a Reed Smith corporate and real estate partner. Chris Beaumont-McQuillan will join BCLP this February, and is set to form part of the firm’s corporate real estate and funds team. He was a partner at Reed Smith since 2021.
White & Case Loses Second High-Yield Partner Of The Day
Clifford Chance has strengthened its high yield practice in London following the appointment of a White & Case partner.
Double Partner Hire Strengthens High Yield Partnership for Weil
Weil, Gotshal & Manges has announced the arrival of two new London partners in a bid to boost its high yield practice.
Deloitte Legal Boosts Partnership with Freshfields’ Former Innovation Chief
Deloitte Legal has strengthened its legal management consulting team with the addition of Freshfields Bruckhaus Deringer’s former legal innovation chief, who joins as a partner.
Linklaters Dealt Another Blow With London Corporate Partner Exit
Linklaters has been dealt another blow to its London operations with the departure of corporate partner Sarah Flaherty.
Law Firm Clyde & Co Adds HSF Aviation Finance Head In London
Clyde & Co has hired Herbert Smith Freehills’ London head of aviation finance as partner moves in the city continue in 2023.
DWF recruits Dentons’ UK real estate head
Dentons’ UK real estate head is leaving the firm after five years to join DWF in a new leadership role.
Kirkland funds partner leaves for Goodwin
Goodwin Procter has snapped up a private equity and investment funds partner from Kirkland & Ellis. Jacqueline Eaves has spent nearly four years as a partner at the US firm, where she focused on advising private investment funds on a range of complex business transactions in the secondary market.
EMEA
Davis Polk secures Allen & Overy partner duo to launch in Brussels
Leading Wall Street firm Davis Polk has hired two partners from Magic Circle UK firm Allen & Overy (A&O) to open a Brussels office.
Paris private equity boutique adds former Brown Rudnick restructuring trio
French private equity boutique Moncey Avocats has added a trio of ex-Brown Rudnick lawyers in Paris to expand its restructuring team.
Three leading Singaporean disputes bodies have banded together to promote Singapore’s attractiveness for dispute resolution, with two new initiatives encouraging an integrated approach for businesses seeking to resolve their disputes in one of Asia’s most popular dispute hubs.
Ropes makes first hire for fledgling Dublin office
Law firms are continuing to expand with offices in the Republic of Ireland, as Ropes & Gray hires from the country’s competition regulator to launch its operations.
APAC
Linklaters adds senior financial regulation partner in Singapore from Ashurst
Linklaters has added a senior partner to its financial regulation and structured finance practice in Singapore from Ashurst.
Baker McKenzie has bolstered its transactional offering in Johannesburg with a trio of partner hires from local rivals.
The Americas
Pallas Partners grows in New York with partner hire from Gibson Dunn
London-based litigation boutique Pallas Partners has grown in New York with the hire of a commercial litigation partner from Gibson Dunn & Crutcher along with two associates from other firms.
Freshfields New York Managing Partner Exits For King & Spalding
Freshfields Bruckhaus Deringer’s New York managing partner has left the firm for a U.S. led outfit.
7 Dentons Shareholders Split to Launch Private Equity Practice at K&L Gates’ Pittsburgh Office
Leaders at K&L Gates said they expect the team of seven new partners to have an “immediate” impact on boosting the firm’s business, given the quantity of client work they are bringing over.
In-House
London Metal Exchange GC Steps Down To Pursue Own Venture
The London Metal Exchange’s (LME) long-time legal chief has stepped down after seventeen years at the company. Tom Hine, who joined the LME in 2006, announced via LinkedIn on Tuesday that he was leaving the metal trading platform to set up his own consultancy venture.
Promotions & Appointments:
Lewis Silkin, Fox Williams and TLT among firms changing up London management
Several law firms in London have rung in the new year with changes to their top management. U.K. top 50 firm Lewis Silkin has ushered in new co-managing partners, with intellectual property partner Jo Farmer and employment partner Richard Miskella set to head the firm until 2026.
Norton Rose EMEA Managing Partner Handed Second Term
Norton Rose Fulbright has reappointed its managing partner for Europe, Middle East and Asia to a second three-year term.
Mergers & Alliances:
Shearman’s Merger Talks Have Also Included Baker Botts
Shearman & Sterling has spoken with multiple law firms for a potential merger, including Texas-based Baker Botts, according to two sources familiar with the talks.
Orrick to Merge With AmLaw 200 Outfit to Create $1.5B Firm
Orrick Herrington & Sutcliffe is merging with Washington, D.C.-founded Am Law 200 firm Buckley, adding significant strength to Orrick in financial regulation, enforcement and litigation and doubling its footprint in the nation’s capital.
Addleshaws and Linklaters lead on Diageo acquisition
Addleshaw Goddard and Linklaters have led on the €260m acquisition of a dark rum brand by drinks giant Diageo.
Office Openings & Closing:
When Brexit became final in 2020, there was an abundance of talk about the world’s premier law firms pivoting away from London to European hubs like Frankfurt, Paris and, in particular, Brussels.
Eversheds Sutherland Opens San Francisco Office as ‘International Hub’
About a year after Eversheds Sutherland announced plans to launch in San Francisco, the global firm has opened an office, which will act as a hub for both local and international lawyers. It is also Eversheds’ first office to experiment with hoteling.
Financials:
As Productivity Drops, Will More Law Firms Move Away From Billable Hour?
Alternative fee arrangements and pricing outside the billable hour is getting more attention this year. A pandemic surge in demand followed by an historic drop in productivity have set the stage in 2023 for a shift toward pricing that emphasizes value instead of time, some analysts say.
Simpson Thacher Enjoys Another Year Of Growth At London Office
Simpson Thacher & Bartlett’s London office revenue grew more than 13% in 2022, hitting $378 million, marking another year of expansion for the U.S. firm’s U.K. base.
Clifford Chance’s Highest Paid Partner Took Home Almost £5M Last Year
Clifford Chance’s highest paid partner took home £4.94 million in the 2021-22 financial year, the law firm’s latest limited liability partnership accounts show. The figure is 35% higher than the £3.21 million taken home by the top paid member in the previous financial year.
Revealed: Ince partners hold barely 8 per cent of shares in their listed business
The Ince Group is now majority owned by external shareholders, with just 8.1 per cent of the equity retained by the firm’s partnership, new documents have revealed.
Milbank pay rises after exchange rate tweak
Milbank has become the latest firm to increase its associate pay scale, including salaries for newly-qualified lawyers.
Technology & Innovation:
Legal Tech Predictions For 2023
Legal technology is set to present a range of opportunities and challenges for law firms in the coming year, according to industry experts. The range of legal tech available to lawyers continues to grow in areas such as knowledge management, data storage and improved artificial intelligence. Firms are likely to need to adapt as in-house requirements change.
Diversity & Inclusion:
BCLP Launches New Billable Hours Policy Including ‘Vacation Bonus’ Reward
Bryan Cave Leighton Paisner has become the latest firm to shake up its billable hours policy, introducing a scheme the allows its best performers to earn a vacation bonus.
4 Firms Create Black-Owned and Female-Driven Africa Alliance
South African law firm LNP Attorneys has spearheaded the creation of a female driven, 100% black-owned legal network.
Pérez-Llorca Program Focuses on Putting More Women Partners Into Male-Dominated Practice Areas
Among the four new partners at Spanish firm Pérez-Llorca named earlier this month, two are women whose practices focus on the male-dominated area of corporate law.