‘Thoughtful about where and how we grow’ – Latham sets out stall for City litigation push

‘Thoughtful about where and how we grow’ – Latham sets out stall for City litigation push

While its London transactional credentials are undeniable, it is fair to say that Latham & Watkins has not to date boasted a similarly heavy-duty reputation on the contentious front.

However, the firm is doubling down on its efforts to shift this perception, with a series of recent eye-catching hires pointing to a renewed push in the capital, as the US giant continues its efforts to dig into a market still largely dominated by UK heritage firms.

Earlier this year, the disputes practice saw a significant shift with the departures of Oliver Browne and Stuart Alford KC to Paul Hastings.

Browne had spent 18 years at firm, co-leading the London litigation and trial department for the past six, most recently alongside Oliver Middleton, while fellow former co-head Alford had been at the firm since 2016, after joining from the Serious Fraud Office (SFO).

While the duo had championed ambitious expansion plans for the US firm’s London litigation practice during their time at the helm, those ambitions remain firmly in place.

Now under the leadership of Middleton, the London litigation and trial department is continuing its growth trajectory. The team’s headcount now stands at almost 70, including 19 partners – up from seven partners and 24 associates in 2017.

Speaking to Legal Business, Middleton and white collar specialist Pamela Reddy (pictured top), who joined from Norton Rose Fulbright at the start of the year, are clear that litigation growth is a strategic priority for the firm, which is targeting a mix of lateral hires and organic growth.

As Middleton (pictured) underlines: ‘We are focused on attracting top talent that enhances our firm’s growth, success, and culture.’

Alongside Reddy, other key appointments in recent years have included former Orrick partner James Lloyd, who joined in October 2021 to focus on litigation and investigations relating to cybersecurity and privacy, and last year’s hire of Linklaters partner Simon Pritchard, who has brought substantial credentials on the competition litigation front.

The firm has significantly bolstered its City white-collar credentials with the hire of Reddy, who Middleton notes has ‘hit the ground running.’ Her recent work has included advising a consortium in a multijurisdictional SFO investigation, as well as securing the dismissal of a criminal probe against a prominent shipping company by the Insolvency Service.

Looking ahead, Reddy anticipates a ‘significant uptick’  in corporate crime investigations driven by forthcoming failure-to-prevent fraud offences under legislation such as the Bribery Act and the Criminal Finances Act, given that ‘the failure-to-prevent fraud offence is incredibly broad, covering anything under the Fraud Act.’

Competition litigation is a key growth area for Latham, building on last year’s addition of Pritchard, who joined after 15 years at Linklaters and Allen & Overy, before which he spent five years as senior director at the .

As Middleton highlights, the growing complexity of competition litigation plays to Latham’s strengths in managing large-scale litigation. ‘Handling large-scale litigation is just as crucial as having specific competition experience,’ he explains. ‘We excel in this area with our extensive team of litigators who are adept at managing enormous class action cases and other large-scale litigations.’

On the defence side, Middleton and London deputy managing partner Andrea Monks are leading teams from the firm representing Barclays in two high-profile cases: one involving allegations of misleading statements about its trading system and another related to foreign exchange market manipulation.

The firm is also aiming to push into other key areas such as shareholder claims, as well as disputes relating to data privacy, AI, ESG, and crypto.

On the data front, Ian Felstead, vice chair of the firm ‘s complex commercial litigation practice, has advised Meta on contentious matters concerning data transfers from the EU, while in the ESG realm, London disputes partner Samuel Pape was recently part of a team which secured victory for the Republic of Colombia at the World Bank’s International Centre for Settlement of Investment Disputes, defending the Colombian government’s ban on mining in the sensitive páramos ecosystem in the Andes.

While expansion of the broader disputes offering is a clear strategic priority for Latham, Middleton argues the firm does not want to ‘pursue growth for growth’s sake’.

‘As the firm continues to expand, we will grow organically, focusing on key areas such as data privacy, ESG, and complex commercial disputes,’ he explains. ‘We want to be thoughtful about where and how we grow.’

Alongside these external hires, the firm’s contentious bench in London has also seen a healthy degree of organic growth, with four partner promotions in the past two years – an increase on previous years, after none from 2016 to 2019, and just one in both 2020 and 2021 – Middleton and litigator and arbitrator Robert Price.

New names joining the partnership since 2021 include Pape, white collar specialist Clare Nida, competition partner Gregory Bonné, and Nell Perks, who focuses on disputes and contentious regulatory investigations.

Looking ahead, Middleton says the growth strategy will have an emphasis on the scale of Latham’s international platform: ‘There is a lot to be gained from having breadth of experience. It’s important for us that our people have specific expertise that we can effectively market. However, our primary strength lies in our flexible litigators who excel at handling large-scale litigation and effectively collaborate across the global platform. Our approach sets Latham apart from competitors.’

Anna.huntley@legalease.co.uk

‘A huge emotional release’ – DLA’s Adam Ibrahim on the longest trial of his career and winning Lawyer of the Year

‘A huge emotional release’ – DLA’s Adam Ibrahim on the longest trial of his career and winning Lawyer of the Year

Adam Ibrahim, UK co-head of litigation and arbitration at DLA Piper, was last month named Private Practice Lawyer of the Year at the Legal Business Awards, following a standout year in which he led a large DLA team to victory in a complex mass claimant action over break fees on loans to small businesses, dubbed “the biggest banking case out there” by top-tier silk Bankim Thanki KC.

This March, Mr Justice Zacaroli handed down a 185-page judgment in the case, Farol v Clydesdale Bank and National Australia Bank, comprehensively dismissing all claims against both banks, as well as allegations of deceit against 15 current and former employees of the banks, including four senior executives.

Here, Adam talks to LB’s Anna Huntley about what it was like to be involved in such a huge and long-running case, the rise of class actions, his approach to leadership and management, and what it was like to win the Lawyer of the Year award.

Pinsents, CC and HSF among big winners as new Legal 500 UK rankings are revealed

Pinsents, CC and HSF among big winners as new Legal 500 UK rankings are revealed

Almost 1,200 law firms have secured spots in the new Legal 500 UK rankings, which have been revealed today after months of research into the legal markets up and down the country.

The rankings, which are based on extensive analysis of the legal markets across England, Wales, Scotland and Northern Ireland, have been put together based on the insight gained from rankings submissions, thousands of interviews with firms, and new record levels of feedback from their clients.

The UK guide includes a total of almost 10,000 practice rankings, of which around 50% are in the London section. The rankings feature 1,176 unique law firms and other legal services providers, with 620 ranked in London.

In addition to the practice rankings, there are almost 13,000 rankings for individual lawyers, including around 2,000 deemed worthy of inclusion in the prestigious Hall of Fame.

Referee response rates once again saw double-digit growth this year, soaring to a new high of almost 65,500, 15% up on the equivalent total last year.

In terms of the most well-represented firms, Pinsent Masons has the most practice rankings across the UK as a whole, with Herbert Smith Freehills holding the most rankings in London.

DLA Piper, Eversheds Sutherland, Addleshaw Goddard and Shoosmiths round out the top five most-ranked across the UK, while in London, HSF is followed up by CMS, DLA, Pinsents and Norton Rose Fulbright.

Pinsents has the highest number of top-tier rankings across the UK as a while, while Clifford Chance has maintained its position as the firm with the most tier one rankings in London.

In terms of promotions, lawyers at three firms will be happier than most – Trowers & Hamlins, which achieved 10 promotions, and Eversheds Sutherland and TLT, with nine apiece.

If you have any queries about the new rankings, or would like to request any amendments, please visit legal500.com/faqs.

Click here to view all the rankings on legal500.com

‘We have a remit to build’ – ex-Latham team open up on Sidley’s bold City lev-fin play

‘We have a remit to build’ – ex-Latham team open up on Sidley’s bold City lev-fin play

In their first interview since leaving Latham & Watkins, Jayanthi Sadanandan and Sam Hamilton discuss their new roles as global co-heads of Sidley Austin’s leveraged finance practice

‘Sidley wants to provide a best-in-class financial sponsor legal service – Sam and I have built out a practice before and we know how to do this,’ says Sadanandan as she and Hamilton sit down to talk to LB on their first day at Sidley. 

‘This is  an exciting opportunity for us – we have a remit to build and Sidley has been very clear in its commitment to this area.’  

Legal 500 Hall of Famer Hamilton and leading partner Sadanandan, who have worked together for 20 years, joined Sidley this week (1 October) having quit Latham in August after nearly 15 years at the firm.

The pair have joined alongside fellow Latham alumni Fergus O’Domhnaill, Joseph Kimberling and Ben Wright – with all five partners now sitting within Sidley’s global finance practice, and Sadanandan and Hamilton taking up newly created roles leading the leveraged finance offering worldwide. 

The team will focus primarily on building a borrower-side practice for private equity sponsors, corporates and private credit funds, although it may extend to lender work at clients’ request.

 ‘Our focus is on the private equity finance side to better support the private equity platform,’ confirms Sadanandan. ‘As a transactional lawyer my goal is always just to get the deal done but, particularly in challenging market conditions, I think the interests between borrower side and lender side can diverge so it can be more challenging trying to manage both sides.’

Sadanandan, who featured as a deal star in LB’s ‘Alphas Revisited’ feature last year, has worked with clients including Permira, Blackstone, and CVC, while Hamilton’s key clients include Nordic Capital, Advanz Pharma, and Soho House. 

Sidley’s regular PE clients include Apollo Global Management, KKR and Carlyle.

Hamilton says there were two main reasons for choosing to join Sidley.  ‘We know everyone in the market who does our type of law and we felt that Sidley was a firm that has a lot of momentum and we liked the management mindset of wanting to grow in London, which we can help with. Secondly, when we began talks with Sidley, we enjoyed meeting the people and there was a cultural match in terms of how we all think about the world.’  

‘In terms of size and the number of people, we don’t have a specific target in mind. It’s client-driven – if you do a great job, clients give you more work, and other clients will hear about it, creating a snowball effect. We expect that will happen.’

Sadanandan adds: ‘After we were approached, we realised there were a lot of synergies. Sidley is a longstanding law firm with a heritage that goes back 158 years, and we liked how it is a full-service law firm already in London. It already has the pieces in play and what Sidley is looking to do now is deepen the breadth of the bench and the breadth of the offering for their private equity clients.’  

Sidley has been making a concerted push in the lucrative PE space as part of its broader expansion plans, bringing in Ramy Wahbeh as co-leader of the firm’s global private equity practice and co-head of the London corporate group, along with M&A partner Kaisa Kuusk, both of whom joined from Paul Weiss in June of last year.  

Commenting on the hires Sidley management committee chair Yvette Ostolaza says:  ‘I think if you’ve got the right team, then you will be delivering the type of service clients are expecting. And that’s what we’re going to be focused on, a very team-oriented approach that will deliver results for the client; with clients very much at the front and centre of our practice.’

The latest hires take Sidley to more than 200 lawyers in London, including more than 50 partners – meaning the office has grown by nearly a third over the last seven years.

And the expansion is far from over, with Ostolaza highlighting capital markets, high yield, and disputes and investigations as areas for further expansion in London, as well as additional growth in private equity.

There will also be an emphasis on building cross-border teams that serve clients in APAC, the Middle East, and London. ‘We’re speaking to a number of laterals in these areas,’ she comments.  

The plans come after Sidley reported another strong financial performance, with the firm’s total revenues reaching the $3bn mark in 2023, a 6.1% increase from the previous year.

The firm has enjoyed a long streak of revenue increases after making a strategic decision in the mid-2010s, to increase its focus on the private capital sector and Ostolaza says it is on track for another good year.  

‘Our first half of 2024 is off to a roaring start. Transactional activity has increased, disputes has also risen, so we’re expecting to have surpassed all metrics. We’re excited about this team because it’s part of our growth strategy,’ she adds.

In the US, the firm is aiming to strengthen its offices in San Diego, which launched in August, and South Florida and Miami offices, which opened in 2022. Alongside its emphasis on private equity, Ostolaza pointed out that there will also be a strong focus on key industry sectors, including life sciences, healthcare, energy, transportation, technology, media, sports, and entertainment. 

She concludes: ‘We are still in a growth mindset, although we’re established. There’s disruption going on in the legal industry – we’re seeing more and more mergers, and we want to be one of the beneficiaries of this disruption on behalf of our clients. I think we’re going to have another banner year.’

Sadanandan and Hamilton were part of a four-partner team that moved to Latham from White & Case in 2010 in a move that planted the seeds for the Los Angeles-bred firm’s dominance in Europe’s leveraged finance market. 

elisha.juttla@legalease.co.uk

Freeths, Freshfields and Vodafone take top prizes at Legal Business Awards

Freeths, Freshfields and Vodafone take top prizes at Legal Business Awards

Freeths, Freshfields Bruckhaus Deringer and Vodafone were among the big winners at this year’s Legal Business Awards, which were revealed last night to a packed house at London’s Grosvenor House Hotel.

Twenty-seven prizes were handed out on the night, with the event hosted by BBC journalist, broadcaster and Mastermind host Clive Myrie and introduced by global head of research and reporting Georgina Stanley (pictured right).

Freeths took the award for law firm of the year, narrowly pipping Freshfields, which was highly commended in the headline category. The national firm took the honour on the back of another consecutive year of double-digit growth, during which it also became one of the first law firms to achieve B Corp certification.

It also enjoyed an unprecedented year in the spotlight for its role in the Post Office inquiry, which was captured in the hugely successful Mr Bates vs The Post Office TV drama.

Freshfields went home with two of the top practice area awards, including corporate team of the year for successfully steering UBS through its historic acquisition of Credit Suisse, and competition team of the year for its work for Facebook parent company Meta on the Competition and Markets Authority’s investigation into its collection and use of advertising data.

The top two individual awards, Lawyer of the Year and Management Partner of the Year, went to DLA Piper’s Adam Ibrahim – described by one client as “the Magnus Carlsen of the banking litigation world – always three steps ahead of his opponent” – and former Allen & Overy senior partner Wim Dejonghe, for sealing the long-awaited, transformational transatlantic merger with Shearman & Sterling.

The award for US law firm of the year went to Paul Weiss, which has has made a huge splash in the London legal market over the last year, building a top tier English law practice at lightning speed through a series of eye-catching hires from leading UK and US firms.

The awards, which were decided on by a judging panel of senior business figures – including Lloyds Banking Group chief legal officer Kate Cheetham, Rio Tinto COO Chris Fowler, Financial Times GC Dan Guildford and News UK GC Angus McBride – also recognised the very best of the Bar and in-house.

Vodafone was named In-house Team of the Year after an eventful year which  included the proposed merger of Vodafone and Three’s UK businesses, the defence of the Phones4u litigation and a major in-house transformation project, while the company also shared the Legal Technology Team of the Year with TLT for their work on an interactive digital dawn raid simulator.

Awards host Clive Myrie

Everton Football Club chief legal counsel Katie Charles was named GC of the Year, while on the Bar side, Edward Henry KC of Mountford Chambers took the Barrister of Year award, with 3VB named Chambers of the Year.

The charity partner for the event was Hand in Hand International, which supports the 400 million women and girls around the world living below the poverty line by providing skills, education, training and resources to start their own businesses and generate jobs. Click here for more information on the charity’s work.

Full list of winners

Energy/Infrastructure Team of the Year – Baker Botts
Highly commended – Bracewell

Life Sciences Team of the Year – Gowling WLG
Highly commended – Pinsent Masons

Private Practice Lawyer of the Year – Adam Ibrahim, DLA Piper
Highly commended – Jenine Hulsmann, Weil

Barrister of the Year – Edward Henry KC, Mountford Chambers
Highly commended – Tahina Akther, Wildcat Law

Marketing Initiative of the Year – RPC
Highly commended – A&O Shearman

Boutique Law Firm of the Year – Milberg London
Highly commended – Powell Gilbert

Boutique Law Firm of the Year (outside London) – Hawkswell Kilvington
Highly commended – Han Law

Chambers of the Year – 3VB
Highly commended – Twenty Essex

Commercial Litigation Team of the Year – Mishcon de Reya
Highly commended – Willkie Farr & Gallagher

Competition Team of the Year – Freshfields Bruckhaus Deringer
Highly commended – Morgan Lewis

Corporate Team of the Year – Freshfields Bruckhaus Deringer
Highly commended – Latham & Watkins and Dorsey & Whitney

ESG Programme of the Year – Green Tech Legal Collaborative
Highly commended – Bates Wells

Finance Team of the Year – Baker McKenzie
Highly commended – DLA Piper

GC of the Year – Katie Charles, Everton Football Club
Highly commended – Keith Austin, DHL

In-House Team of the Year – Vodafone
Highly commended – BAE Systems

International Arbitration Team of the Year – Skadden
Highly commended – Vinson & Elkins

Law Firm of the Year – Freeths
Highly commended – Freshfields Bruckhaus Deringer

Legal Technology Team of the Year – TLT and Vodafone
Highly commended – Dentons

Management Partner of the Year – Wim Dejonghe, Allen & Overy
Highly commended – Jason Glover, Simpson Thacher & Bartlett

Most Transformative In-House Team of the Year – DHL
Highly commended – Jones Lang LaSalle

Private Client Team of the Year – Hughes Fowler Carruthers
Highly commended – Stevens & Bolton

Private Equity Team of the Year – Simpson Thacher & Bartlett
Highly commended – Kirkland & Ellis

Real Estate Team of the Year – Eversheds Sutherland
Highly commended – Ashurst

Regional/Offshore Firm of the Year – Michelmores
Highly commended – Brodies

Restructuring Team of the Year – Kirkland & Ellis
Highly commended – Latham & Watkins

Rising Star In-House Counsel of the Year – Amman Ayub, Advanz Pharma
Highly commended – Benedikt Meyer, American Express

US Law Firm of the Year – Paul Weiss
Highly commended – Willkie Farr & Gallagher