Linklaters wins best firm in show from annual in-house survey

Posted on |

In what signals a marked return to favour for the City’s elite players, Magic Circle firm Linklaters has led the field in Legal Business‘ third annual in-house survey as best overall adviser in 2014, pushing Eversheds, which emerged as the clear overall favourite in 2013, into second place.

Our 2014 survey, which drew responses from 436 individuals at major companies operating in the UK, reveals the top ten firms comprise largely the same names as last year, with the Magic Circle plus Eversheds, DLA Piper, Pinsent Masons and Baker & McKenzie all appearing. The only significant change was alternative legal services provider Axiom taking the tenth spot, pushing Herbert Smith Freehills into 11th place, demonstrating how non-law firm providers are winning over some bluechip clients.

Continue reading “Linklaters wins best firm in show from annual in-house survey”

Herbert Smith Freehills’ heavyweight misses out on management post after elections

Posted on |

Herbert Smith Freehills’ (HSF) partnership vote for its global partnership council has revealed the firm’s post-merger dynamics, with prominent corporate partner James Palmer missing out on a seat, which instead was secured by Sydney-based M&A partner Mark Crean.

Three spots were available on the council, which is led by London-based senior partner Jonathan Scott. One place was designated for an EMEA (excluding UK) partner, which Madrid-based Nicolás Martín – head of private equity in Spain and co-head of corporate – took, while another was reserved for Asia, with Hong Kong litigator Gareth Thomas elected. That saw Palmer entering into the contest for the final position with a pool of candidates from the UK and Australia.

Continue reading “Herbert Smith Freehills’ heavyweight misses out on management post after elections”

News in brief – October 2014

Posted on |

LORD CHANCELLOR ACTED ‘UNLAWFULLY’ IN LEGAL AID CONSULTATION

Kingsley Napley and 11 KBW last month acted for the London Criminal Courts Solicitors’ Association and the Criminal Law Solicitors’ Association in their successful challenge against the Lord Chancellor’s failure to disclose the contents of two reports during the legal aid reforms consultation process. The Treasury Solicitor instructed Blackstone Chambers’ James Eadie QC and Fraser Campbell, and 4 New Square’s Richard O’Brien on the case.

Continue reading “News in brief – October 2014”

When will the US become a land of opportunity for Freshfields?

Posted on |

Tom Moore looks at Freshfields’ recent expansion in Manhattan

Freshfields Bruckhaus Deringer has made growing its US practice its number one priority and the firm has even stepped on a few Wall Street toes in 2014 with its aggressive hiring strategy. In the space of a month, six new partners have been drafted in, including Shearman & Sterling M&A veteran Peter Lyons and former Wachtell, Lipton, Rosen & Katz dealmaker Mitchell Presser to boost an underweight transactional group. Despite success in US disputes and investigations work, Freshfields has lacked a real M&A engine in New York but has pinned its hopes on the duo putting a change to that.

Continue reading “When will the US become a land of opportunity for Freshfields?”

‘There will be uncertainty’: partners discuss consequences of Scotland voting ‘no’

Posted on |

Scotland’s ‘no’ to independence last month returned confidence to the markets with a spike in sterling and share prices of FTSE 100-listed Scottish companies.

The legal profession breathed easy too as while independence would have signalled a surge of work over the first few years, long term the outlook was tied to uncertain economic fortunes.

Continue reading “‘There will be uncertainty’: partners discuss consequences of Scotland voting ‘no’”

The $50m question – will Akin Gump’s record-breaking City acquisition pay off?

Posted on |

There was a rushed engagement before the union and there is unlikely to be a long honeymoon for the 26 Bingham McCutchen partners, including ten financial restructuring partners, switching to Akin Gump Strauss Hauer & Feld later this month. Such is the size of the investment the Dallas-bred giant has made, with the total number of lawyers set to transfer across London, Hong Kong and Frankfurt expected to reach around 60, the team led by financial restructuring guru James Roome will have to hit the ground running when they transfer in late October. This is, after all, a team with around $50m in annual revenue, by some yardsticks the largest team hire ever executed in the Square Mile.

The move, which Legal Business first revealed online in early September, shifts virtually all of Bingham’s London arm, minus two partners whose futures are undecided.

Continue reading “The $50m question – will Akin Gump’s record-breaking City acquisition pay off?”

A&O, Clifford Chance, Links and CMS lead on Phones4u administration

Posted on |

Allen & Overy (A&O), Clifford Chance (CC), Linklaters and CMS Cameron McKenna landed the key roles when high street retailer Phones4u entered administration last month.

With PwC acting as administrator, the company went into administration on 15 September after the withdrawal of EE, O2 and Vodafone products from its stores, placing nearly 5,596 jobs and more than 700 outlets at risk. However, some stores and staff were relocated with mobile carriers EE and Vodafone, as well as Dixons Carphone purchasing assets.

Continue reading “A&O, Clifford Chance, Links and CMS lead on Phones4u administration”

US law firms cash in on Alibaba and Citizens flotations

Posted on |

King & Wood Mallesons and US firms were the main beneficiaries of the largest initial public offering (IPO) in history, Alibaba’s $25bn listing, which generated $15.8m in legal fees while The Royal Bank of Scotland (RBS)’s Citizens flotation also saw US firms take leading roles.

Simpson Thacher & Bartlett advised Alibaba on US federal securities and New York state law with China head Leiming Chen and partners Daniel Fertig and William Hinman advising, while Sullivan & Cromwell partners William Chua, Jay Clayton and Sarah Payne advised the underwriters, including Credit Suisse, Deutsche Bank, Goldman Sachs, JPMorgan, Morgan Stanley and Citigroup. Maples and Calder advised on Cayman Islands law, while Chinese law was covered by Fangda Partners for Alibaba and King & Wood Mallesons for the underwriters.

Continue reading “US law firms cash in on Alibaba and Citizens flotations”

Edwards Wildman and Locke Lord set to combine

Posted on |

Fellow US firm Cooley plans London office takeover

Dallas-bred Locke Lord and Boston’s Edwards Wildman Palmer became the latest US duo to announce plans to merge last month, as consolidation continues in the US national market. The news emerges as California firm Cooley prepares to launch in London, potentially taking on a major proportion of Edwards Wildman’s City team in the process.

Continue reading “Edwards Wildman and Locke Lord set to combine”

BLP scales back Paris office just eight years after opening as local head departs

Posted on |

Clifford Chance boosts French corporate offering with HSF and Willkie Farr hires

Last month saw much strategic decision-making by Legal Business 100 firms located in Paris, with Berwin Leighton Paisner (BLP) scaling back its offering in the French capital and leaving only a liaison outpost following the departure of French head Antoine-Audoin Maggiar, just eight years after opening. Meanwhile, Magic Circle firm Clifford Chance (CC) has made efforts to boost its Paris offering, having hired longstanding Herbert Smith Freehills’ (HSF) securities partner Alex Bafi and Willkie Farr & Gallagher private equity partner Fabrice Cohen.

Continue reading “BLP scales back Paris office just eight years after opening as local head departs”