Bluechips continue to grow legal teams as buyside lawyers shift from external counsel
In-house departments are expanding rapidly and overshadowing private practice growth as corporates plan to further bolster their internal legal capability.
Both recent statistics and developments on the ground indicate that corporates are increasingly addressing issues such as regulatory and compliance pressures, as well as budgetary restraints, by expanding their internal capabilities.
US firms in the City continue to demonstrate their appetite for big name lateral hires from leading UK firms, with Latham & Watkins and Reed Smith picking up experienced partners from Clifford Chance (CC) recently, while Quinn Emanuel Urquhart & Sullivan announced the hire of disputes expert Ted Greeno from Herbert Smith Freehills (HSF).
Latham & Watkins’ acquisition of CC’s global head of private equity, David Walker, particularly caught the eye last month. This is one of the most significant blows to CC’s corporate practice since the departure of Adam Signy to Simpson Thacher & Bartlett in 2009.
Continue reading “Lateral push sees key UK players switch to US firms”
A number of global firms boosted their white-collar defence practices last month with a spate of hires from US and UK government agencies. The hires come as regulators on both sides of the pond continue to tighten their grip on domestic and international businesses.
Freshfields Bruckhaus Deringer hired Matthew Friedrich, former acting head of the criminal division at the US Department of Justice (DoJ), to bolster its white-collar practice based in Washington DC.
Continue reading “Global firms strengthen white-collar practices”
Freshfields Bruckhaus Deringer has demonstrated that US firms in the City are not the only ones to be making high-profile partner hires, announcing the recruitment of respected Shearman & Sterling partner and head of global project development and finance Tim Pick in April.
The arrival of Pick, described as ‘outstanding in all respects’ in the latest edition of The Legal 500, is a significant appointment for Freshfields. He will join as a finance partner in London and will focus on advising clients in the energy and natural resources sector in Europe, the Middle East and Africa.
Continue reading “Freshfields Pick ‘outstanding’ energy hire”
Three insurance companies announced significant moves into the legal services market in April after sealing alternative business structure (ABS) joint ventures with law firms.
The Solicitors Regulation Authority (SRA) granted Admiral, Ageas and RAC ABS licences to extend their services beyond insurance to provide legal services for customers making no-fault personal injury claims.
Continue reading “Insurance giants move into legal services market”
Nabarro has promoted eight lawyers to its partnership, with the majority of appointments in the firm’s City office.
The promotions, effective from 1 May, are split across the construction, real estate, tax, corporate and disputes practices.
Five London lawyers were promoted in this latest round, namely construction lawyer Alistair McGrigor, real estate specialist Chris Oakley, tax lawyer Kirsten Prichard Jones, disputes associate Andrew Taplin and real estate disputes lawyer Nick Wood.
Continue reading “Nabarro’s talent programme reaps eight partner promotions”
Clyde & Co is to open a Madrid office following the appointment of a four-partner insurance team from DAC Beachcroft’s local office.
The team of nine lawyers, including insurance partners Ignacio Figuerol, Ricardo Garrido, Pablo Guillen and Miguel Relano, have resigned to establish the office for Clyde & Co, extending the firm’s international footprint to 29 locations across Europe, America and Asia.
Continue reading “Clyde & Co to open Madrid office with DAC Beachcroft insurance team”
Beleaguered Dundas & Wilson is shortly to lose London private equity partners Simon Sale and Nadim Meer to Mishcon de Reya, while City corporate partner Julian Mathews joined Wedlake Bell in March.
The departures are the latest in a series of partner exits from the Scottish leader in recent months.
Mathews specialises in M&A, private equity and corporate real estate. He has a particular focus on the hotel, restaurant and leisure sectors.
CMS Cameron McKenna has reformed its partnership remuneration model from 1 May, enabling salaried partners to become equity partners more quickly but increasing management scrutiny of performance.
After 18 months of deliberation, the firm voted in favour of discontinuing its salaried partner level, achieving the 80% majority needed to push the reforms through.
The change will see 65 salaried partners become part of a 75-strong fixed-share rank.
Continue reading “Partnership structure overhaul for CMS Cameron McKenna”
Third-party funder Argentum has agreed to bankroll a multimillion-pound claim against The Royal Bank of Scotland (RBS) in London’s High Court.
The floodgates have opened for cases against RBS following its £20bn government bailout in 2008, as investors seek to recoup their losses following its nationalisation.
The group of 21 claimants includes a number of UK and international financial institutions and pension funds suing the bank over a rights issue in April 2008, in which RBS sold its shares at £2 per share. The claimants allege that the prospectus on which the rights issue was based was ‘defective’ and contained material misstatements and omissions. Continue reading “RBS investors secure litigation funding for action against bank”
