Firm prepares to sub-let up to 40% of new London headquarters
As Ashurst partners digest a year of tumbling profits and turnover, delayed profit distributions and a rising number of senior exits, the firm faces an estimated £55m cost to fit out its new Spitalfields office.
Continue reading “Ashurst braces for £55m fit-out hit as City office move looms”
Consumer goods giant Unilever is currently carrying out an ‘informal review’ of its current panel firms, after the roster expired in June 2016.
According to a partner at one of Unilever’s panel firms: ‘Instead of a full-blown formal process, it is a more informal thing.’
Continue reading “Unilever carries out informal review of panel arrangement”
More than 30 partners have left the firm in the last 18 months
Having emerged as one of the worst performers in the Legal Business 100 last month and strongly touted to be in the market for a merger, September saw further departures from Olswang, adding to a steady stream of exits in recent months.
Continue reading “Olswang exits continue as merger claims swirl around TMT player”
Partners asked for between €6m and €7m to cut debt.
The European arm of Dentons has made a capital call on partners to raise an additional €6m to €7m in a move to cut bank debt, described by European chief executive Tomasz Dabrowski as ‘good financial prudence’.
European partners – excluding the UK which operates as a separate legal entity – have each been asked to contribute up to €100,000 extra over a two-year period.
Continue reading “‘Good financial prudence’: Dentons’ European arm makes cash call”
Royal Mail’s group general counsel (GC) Maaike de Bie has led an overhaul of the postal service’s legal team after taking the top job in April.
De Bie, who previously served as deputy GC and acting group GC, has restructured the team of 30 lawyers into bigger groups, moving away from siloed specialisms such as property or pensions.
Continue reading “De Bie restructures Royal Mail legal team as she settles into group GC post”
Longstanding leader Crossley set to retire at year end
Frontrunners have emerged in the contest to become the new Europe and Middle East managing partner at Squire Patton Boggs, after longstanding leader Peter Crossley confirmed his retirement in September.
Two senior partners have been touted internally and externally as favourites for the role: London managing partner Robert Weekes and EMEA global corporate chair Jane Haxby.
Continue reading “Contenders step forward as race for Squires European head begins”
Paul Hastings, A&O and PwC heap further woe on City stalwart
A beleaguered Ashurst has suffered another wave of partner exits, with ten partners leaving in September to join global competitors.
Continue reading “Pressure piles on Ashurst as ten partners quit last month”
Over 100 lawyers involved as PE firm sells sport to Liberty Media
Just six months a partner, Freshfields Bruckhaus Deringer’s Charles Hayes has led the firm’s team advising Formula One Group (F1) and CVC Capital Partners on the £6.4bn sale of F1 to Liberty Media Corporation, advised by Baker Botts.
Continue reading “Freshfields and Baker Botts take pole position on F1 sell off”
Travers Smith and Kirkland & Ellis last month teamed up to advise UK tech firm Micro Focus on its $8.8bn acquisition of Hewlett Packard Enterprise (HPE)’s software business.
In a deal primarily structured under Delaware law, Travers head of corporate Spencer Summerfield advised Micro Focus alongside corporate partner Jon Reddington on English law. Kirkland fielded a team led by New York corporate partners William Sorabella, David Feirstein and John Kupiec.
