‘Universal slowdown’ adds up to a less dynamic year but Kirkland becomes first $4bn law firm

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‘Universal slowdown’ adds up to a less dynamic year but Kirkland becomes first $4bn law firm

Thomas Alan finds revenue growth tempered at many US firms with 2019 proving a sterner test for the global elite

It would have been difficult to match the rampant advances of US firms among the Global 100 in 2018 and so it has proven. A handful of the largest players endured quieter years with uncertainty identified as the primary culprit, but the big picture is still one of global growth, as Kirkland & Ellis became the first law firm in the world to hit $4bn, just two years after breaking the $3bn barrier. Continue reading “‘Universal slowdown’ adds up to a less dynamic year but Kirkland becomes first $4bn law firm”

Corporate losses continue for Freshfields as Latham makes public M&A play in London

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Corporate losses continue for Freshfields as Latham makes public M&A play in London

Kirkland & Ellis topped M&A rankings for Europe last year, bringing in a total of $224.2bn in deals, while Freshfields Bruckhaus Deringer came in second at $221.7bn. Little wonder then that rival Latham & Watkins has targeted Freshfields for its most significant London lateral hire in some time, bringing in public M&A rising star Sam Newhouse.

It is inevitable that public M&A work in London – long-considered the preserve of the Magic Circle – has become the latest hunting ground for ambitious US players as an alternative to private equity and funds-driven corporate work. White & Case is well-established in the area and Weil, Gotshal & Manges has made no secret of its desire to find talented company for veteran Mike Francies, as it did with the hire of David Avery-Gee from Linklaters last year. Continue reading “Corporate losses continue for Freshfields as Latham makes public M&A play in London”

Significant hires

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Significant hires
  • Cooley has revisited Latham to further boost its capital markets practice in London. New partner David Boles advises on international capital markets and securities regulation, and represents investment banks, issuers and investors. Cooley previously hired from Latham’s capital markets team in March 2019, taking on Claire Keast-Butler. Capital markets partner Ed Lukins departed Cooley to join Orrick in September.
  • Greenberg Traurig has continued its London recruitment push, this time hiring Ian Jack from Baker McKenzie to strengthen its City restructuring practice as firms look to hedge against increasing economic uncertainty. Jack, who was co-head of global restructuring and insolvency, has joined Greenberg after more than two decades at Bakers.

Continue reading “Significant hires”

Barclays acquittal draws flak for flawed SFO prosecutions despite record Airbus win

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Barclays acquittal draws flak for flawed SFO prosecutions despite record Airbus win

Thomas Alan assesses the fresh controversy around SFO tactics

It claims it is a public service hamstrung by archaic laws and deserves more sympathy; its critics make unfavourable comparisons to the civil service and question the competency of its lawyers. Continue reading “Barclays acquittal draws flak for flawed SFO prosecutions despite record Airbus win”

Legal 500 Data: Behind the story

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Legal 500 Data: Behind the story

The Legal 500 : Latham & Watkins focus

The success of Latham & Watkins’ expansion globally in recent years is backed up by Legal 500 data. Fifty-seven of its practices have achieved top-tier rankings globally across The Legal 500 in 2019/20, compared to 40 in 2014-15. While only one of these 17 new top-tier rankings is in the UK, the firm’s growing dominance in London is still supported by the UK Legal 500 data. Continue reading “Legal 500 Data: Behind the story”

City leaders take drastic action as coronavirus spreads turmoil across European states and economies

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City leaders take drastic action as coronavirus spreads turmoil across European states and economies

Nathalie Tidman and Thomas Alan assess the impact of the pandemic on the profession as the world battens down for a health crisis

‘Things that are happening today you wouldn’t have believed a week ago,’ reflects David Patient, Travers Smith’s managing partner. Indeed. The outbreak and rapid spread of the coronavirus has in a matter of weeks transformed from background concern to a health crisis unknown in modern times, with countries scrambling worldwide to handle the outbreak. Continue reading “City leaders take drastic action as coronavirus spreads turmoil across European states and economies”

Freshfields under financial and reputational fire in Germany as cum-ex tax scandal rolls on

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Freshfields under financial and reputational fire in Germany as cum-ex tax scandal rolls on

Marco Cillario and Nathalie Tidman report on Freshfields’ role in the tax scandal rocking Germany

It is not often that a law firm makes headlines outside the legal media, yet the name Freshfields Bruckhaus Deringer is rapidly becoming a regular feature of German newspapers. That is bad news for the City giant. How bad, many are currently trying to assess. Continue reading “Freshfields under financial and reputational fire in Germany as cum-ex tax scandal rolls on”

Trio of senior hires as property teams bank on market revival as investors hunt for key assets

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Trio of senior hires as property teams bank on market revival as investors hunt for key assets

Evidence of a thriving real estate sector in the UK can be seen through hires by the established real estate practices at Addleshaw Goddard and Ashurst, which bolstered their benches in property litigation and planning with notable appointments before Christmas and the new year.

One standout hire was made by Addleshaws, which has recruited Linklaters real estate disputes head Frances Richardson. Although holding the role of counsel at the Magic Circle firm, Richardson joins Addleshaws as a partner. Having spent 17 years at Linklaters after arriving as a trainee in 2002 and working her way up to managing associate, she became head of real estate disputes in 2017. Continue reading “Trio of senior hires as property teams bank on market revival as investors hunt for key assets”