Strategic recruitment: Paul Hastings taps Latham City banking team as Pallas launches in New York

Strategic recruitment: Paul Hastings taps Latham City banking team as Pallas launches in New York

Despite the typical summer slowdown of the global lateral recruitment market, there have still been plenty of eye-catching hires. Many of the headline moves have a transatlantic hue as US firms continue to attract top talent in the City, while UK firms have had mixed results in the States.

In London, Latham & Watkins’ banking vice-chair Ross Anderson and fellow partners Mo Nurmohamed, Karan Chopra and Rob Davidson joined Paul Hastings in July. The team brings a breadth of experience in leveraged finance and direct lending deals, having led on recent high-profile transactions; recent examples include acting for the arrangers of the TLB financing to support Blackstone’s acquisition of Huws Gray, and the arrangers of the financing to support Bain’s acquisition of ITP Aero, a carve out from Rolls-Royce. Continue reading “Strategic recruitment: Paul Hastings taps Latham City banking team as Pallas launches in New York”

Show us the money: 2021/22 financial results show strength in numbers

Show us the money: 2021/22 financial results show strength in numbers

The annual torrent of financial results has swept the market once more, with all eyes as usual on how the Magic Circle firms fared against City peers.

Freshfields Bruckhaus Deringer and Allen & Overy (A&O) both racked up 10% revenue growth, with Clifford Chance (CC)’s turnover growing 8%, and Linklaters’ increasing by 7%. In absolute terms, CC recorded the largest fee income of £1.97bn, narrowly ahead of A&O’s £1.94bn. Linklaters and Freshfields followed with £1.78bn and £1.7bn respectively. Continue reading “Show us the money: 2021/22 financial results show strength in numbers”

No Roome for growth? A new chapter for Akin Gump’s City office

No Roome for growth? A new chapter for Akin Gump’s City office

Akin Gump has made impressive strides in the City over the past eight years. With James Roome, the driving force behind its fêted City restructuring practice set to retire, can the firm continue its London trajectory?

The 2014 Bingham McCutchen deal that brought James Roome to Akin Gump is described as ‘one of the transformative events’ by the firm’s chair, Kim Koopersmith (pictured). In the first full year after his arrival, City revenue more than doubled, jumping from $35.8m in 2014 to $91m in 2015. And far from being a one off, London revenue has since grown 65% to hit $150.4m for 2021 – significantly outpacing Akin Gump’s global revenue growth of 31% over the same period. Continue reading “No Roome for growth? A new chapter for Akin Gump’s City office”

Onward, Singapore: King & Spalding names new managing partner as Sidley backs laterals in the city state

Onward, Singapore: King & Spalding names new managing partner as Sidley backs laterals in the city state

As a growing number of international firms pivot their focus in Asia to Singapore, King & Spalding’s appointment of banking heavyweight Andrew Brereton as the office’s new managing partner could be viewed as a declaration of redoubled commitment to the city state.

The Atlanta-headquartered firm first brought the Clifford Chance veteran on board at the start of 2019 as part of an effort to build out its finance and restructuring capabilities in the wider region. Continue reading “Onward, Singapore: King & Spalding names new managing partner as Sidley backs laterals in the city state”

London calling? Recruiters eye New Zealand talent market as borders reopen

London calling? Recruiters eye New Zealand talent market as borders reopen

As prime minister Jacinda Ardern declared New Zealand’s borders fully open on 31 July for the first time since March 2020, commentators have reckoned on a whole new talent pool.

Overseas experience (OE) had long been a rite of passage for many qualified New Zealand lawyers, with nearest neighbour Australia being the obvious choice for such experience. Indeed, Allens was among the firms known to actively recruit talent from the New Zealand market. Continue reading “London calling? Recruiters eye New Zealand talent market as borders reopen”

London calling? Recruiters eye New Zealand talent market as borders reopen

London calling? Recruiters eye New Zealand talent market as borders reopen

As prime minister Jacinda Ardern declared New Zealand’s borders fully open last Sunday (31 July) for the first time since March 2020, commentators have reckoned on a whole new talent pool.

Overseas experience (OE) had long been a rite of passage for many qualified New Zealand lawyers, with nearest neighbour Australia being the obvious choice for such experience. Indeed, Allens was among the firms known to actively recruit talent from the New Zealand market. Continue reading “London calling? Recruiters eye New Zealand talent market as borders reopen”

Life During Law: Jeff Twentyman

Life During Law: Jeff Twentyman

I acquired through reading an interest in justice and the role law could play. One book I read in my late teens was influential. In the Spirit of Crazy Horse by American journalist and author Peter Matthiessen. Written in 1983 about an individual who was part of the American Indian Movement called Leonard Peltier. He happens to still be in jail 45 years later, in what this book would tell you was a major miscarriage of justice. It profoundly affected me. The idea that law could be a force for good attracted me to the legal system.

I was predisposed to arguing. I found it interesting to pursue the right answer through discussing it with people. Constructive arguing rather than arguing in a teenager-y sort of way. I made the connection that actually the two things played into each other. I was possibly a little bit idealistic. Continue reading “Life During Law: Jeff Twentyman”

The big stories of the past two months

The big stories of the past two months

Robust revenue and profit growth for UK and US firms

First to report on a 2021 calendar-year basis, US firms set a high bar for impressive gains as robust financial results were released. Another bumper year for private equity saw Kirkland & Ellis retain its title as the world’s highest-grossing law firm with revenue exceeding $6bn for the first time following a 25% increase, while profit per equity partner (PEP) spiked by more than 19%, reaching $7.38m. Continue reading “The big stories of the past two months”

Strategic recruitment: Ropes makes triple private equity swoop as Latham loses energy partner to Milbank

Strategic recruitment: Ropes makes triple private equity swoop as Latham loses energy partner to Milbank

The hot legal recruitment market is showing no sign of cooling down with summer looming, as firms continued to strengthen their benches at home and abroad.

Starting in May, Ropes & Gray took further steps towards its goal of becoming the go-to private equity practice in the City with the addition of partners Dan Oates, Simon Saitowitz and Angela Becker in the London office. Continue reading “Strategic recruitment: Ropes makes triple private equity swoop as Latham loses energy partner to Milbank”

The American dream: US firms in expansion mode amid wave of international office openings

The American dream: US firms in expansion mode amid wave of international office openings

Spring seems to have brought out the globetrotting spirit among American law firms, with Cravath, Swaine & Moore, Kirkland & Ellis, Winston & Strawn and Quinn Emanuel Urquhart & Sullivan all announcing plans for ambitious office launches in recent weeks.

The headline investment was Cravath’s commitment to a new office in Washington DC. The move, announced on 6 June, will be seen as something of a coup for the traditionally conservative Wall Street giant, the new outpost becoming just the third in Cravath’s international portfolio. The New York headquarters was established in 1819 and the London office opened in 1973. The Manhattan stalwart also once had a presence in Paris and Hong Kong, although those closed in 1983 and 2003 respectively. Continue reading “The American dream: US firms in expansion mode amid wave of international office openings”