Freshfields snaps up former FTC commissioner to bolster US antitrust offering

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Competition Freshfields Bruckhaus Deringer
Freshfields snaps up former FTC commissioner to bolster US antitrust offering

In a boost to its Washington DC presence, Freshfields has hired former Federal Trade Commissioner, Christine Wilson, as a senior adviser in its antitrust practice.

The firm has made a concerted effort to build out its antitrust offering in both the US and Europe over the last year. In October 2023, it appointed former senior director of mergers at the UK’s Competition and Markets Authority, Colin Raftery, to the firm’s London office. While in June 2023, antitrust litigators Heather Lamberg and Justina Sessions joined the firm’s Washington DC and Silicon Valley antitrust practices. Antitrust and foreign investment practitioner Charlotte Colin-Dubuisson also joined the firm’s Paris office in January 2024.

Time to Talk Day Q&A: Andrew Nealon, Vinson & Elkins

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ESG Vinson & Elkins
Time to Talk Day Q&A: Andrew Nealon, Vinson & Elkins

For this year’s Time to Talk Day (1 February), which aims to encourage workplaces to start a conversation about mental health, we sat down with Vinson & Elkins energy and infrastructure partner Andrew Nealon (pictured) to discuss the impact of law firm culture on mental health and some of the positive industry changes he has witnessed over the course of his career so far.

Revolving Doors: Double loss for Cravath as Freshfields strengthens US presence

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Strategic recruitment
Revolving Doors: Double loss for Cravath as Freshfields strengthens US presence

Leading the high-profile moves this week, Baker McKenzie has welcomed partner Eric Schwartzman to head up its private equity practice in California, joining from Latham & Watkins.

With 25 years’ experience, Schwartzman specialises in advising private equity sponsors and companies on corporate matters, including M&A, recapitalisations, restructurings, and joint ventures across various industries.

Revolving doors: Restructuring veteran Ereira leaves Paul Hastings for Quinn as firms build up funds practices

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Strategic recruitment
Revolving doors: Restructuring veteran Ereira leaves Paul Hastings for Quinn as firms build up funds practices

Quinn Emanuel made a significant move in London this week, hiring restructuring veteran David Ereira from Paul Hastings. In the Legal 500 Hall of Fame for corporate restructuring and insolvency, Ereira has a wealth of experience advising clients from governments to debtors, creditors, and investors on a wide range of insolvency and restructuring issues.

Ereira’s practice at Paul Hastings included non-contentious work, and this makes him a somewhat uncharacteristic hire for disputes-focused Quinn.

‘A timely reminder’: SDT issues joint highest-ever fine in anti-money laundering crackdown

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Legal regulation Clyde & Co
‘A timely reminder’: SDT issues joint highest-ever fine in anti-money laundering crackdown

The Solicitors Disciplinary Tribunal has fined Clyde & Co £500,000 and former partner Edward Mills-Webb £11,900 following a slew of anti-money laundering breaches.

At a hearing that took place last week (9-11 January), the SDT considered a statement of facts and admissions agreed by the parties, ultimately finding all allegations to be proved. The SDT ordered Clyde & Co to pay a £500,000 fine, as well as contributing to the SRA’s £128,197.48 costs. Meanwhile, Mills-Webb was ordered to pay a £11,900 fine and contribute towards the SRA’s £54,941.77 costs.

Dealwatch: Global 100 advisers take centre stage on BlackRock-GIP $12.5bn mega deal

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Corporate
Dealwatch: Global 100 advisers take centre stage on BlackRock-GIP $12.5bn mega deal

Skadden, Fried Frank, Kirkland and Debevoise have all taken lead advisory roles as BlackRock announced on Friday (12 January) that it will buy Global Infrastructure Partners (GIP) for an eye-watering $12.5bn. The transaction will give BlackRock a total of $150bn in infrastructure assets, rocketing it to the top tier of infra funds.

The transaction sees BlackRock acquire 100% of GIP’s business and assets, which include Gatwick, London City, and Edinburgh airports as well as the Port of Melbourne and a raft of LNG assets around the world. The total deal value includes $3bn in cash and 12 million in BlackRock shares, with around 30% of the total consideration deferred, expected to be issued in approximately five years ‘subject to the satisfaction of certain post-closing events’.

Revolving doors: Linklaters makes bold US play as new year recruitment picks up

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Strategic recruitment
Revolving doors: Linklaters makes bold US play as new year recruitment picks up

Defying its US strategy critics, Linklaters’ New York office began the week with the hire of a six-lawyer M&A team from Shearman & Sterling. Led by Legal 500 Hall of Famer for $1bn-plus M&A deals, George Casey, the team also includes partners Heiko Schiwek and Gregory Gewirtz.

Casey, who had been global managing partner at Shearman from 2018, joins Linklaters as its global co-chair of corporate. Key mandates for Casey include Celanese’s $11bn all-cash acquisition of most of DuPont’s mobility and materials business in 2022, and DuPont and Dow Chemical’s $130bn merger in 2015.

‘Stunning achievement’: revenue and profit surge at Quinn’s London office

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Financial results Quinn Emanuel Urquhart & Sullivan
‘Stunning achievement’: revenue and profit surge at Quinn’s London office

Quinn Emanuel Urquhart & Sullivan posted an impressive set of 2023 financial results for its London office today (10 January), with revenue up 47% to £196.6m and profit up a staggering 60% to £153.6m, with a profit margin of 78%.

London senior partner Richard East (pictured), who founded the office in 2008, said: ‘We are extremely pleased with our 2023 results. It is a stunning achievement for a “disputes only” practice to approach £200m in revenue, especially taking into account the number of partners we have in London. This year’s results were boosted by a material one-off success fee, but even without this fee the office has very significantly improved revenue and profit as against 2022.’