CC and Davis Polk On $8bn China IPO: Davis Polk & Wardwell advised Postal Savings Bank of China on its Hong Kong Stock Exchange float, with Clifford Chance leading for the underwriting banks, including JP Morgan Chase and Goldman Sachs. King & Wood Mallesons acted as Chinese counsel to the banks, while Haiwen & Partners was Chinese adviser to Postal Savings Bank.
Continue reading “Deal watch: Corporate activity in October 2016”
Simultaneous Melbourne and Sydney launches filled with former Freehills lawyers
White & Case is to open two offices in Australia with the hire of a ten-partner project finance team from Herbert Smith Freehills (HSF), and there are plans to continue growing in the country.
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CMS opened in Hong Kong in September through its German branch CMS Hasche Sigle, re-entering the city as part of an international arbitration push.
The initial focus of the office will see the development of a dispute resolution practice by arbitration partner Nicolas Wiegand (pictured) who relocates from Munich.
Continue reading “CMS returns to Hong Kong to enhance Asia disputes practice”
Kathryn McCann and Victoria Young discuss Kennedys’ prospects with longstanding senior partner Nick Thomas
‘I’d like to tell you that Kennedys is a crap practice,’ one law firm leader tells Legal Business, ‘but it is reasonably good. The unfortunate thing is that it follows rather than leads in its market and that’s a strategic disadvantage.’
I’m the fifth of six children. By child five, your parents are very relaxed. You can do what you want! I grew up in a small town in Ireland. I was trying to decide whether to do law or medicine and two sisters were junior doctors, working through the night. I thought: ‘That looks hard – I’ll become a lawyer!’ Some irony there.
Continue reading “Life during Law: Aedamar Comiskey, Linklaters”
The big four Magic Circle firms have posted their strongest performance in this year’s Legal Business 100 (LB100) since the recession, despite a subdued market overall. Although average revenue for the top 25 is down 3% to £622m, the combined revenue of Freshfields Bruckhaus Deringer, Linklaters, Clifford Chance and Allen & Overy (A&O) stands at £5.33bn, up 4% on last year, while average profit per equity partner (PEP) jumped 5% to £1.33m.
A&O managing partner Andrew Ballheimer said: ‘The year has seen mixed markets around the world. In that context these are another set of solid results which highlight our people’s ability to spot opportunities for growth.’
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As brewing giant SABMiller’s global general counsel (GC) John Davidson prepares to stand down in 2017, up to 35 staff in the UK-based legal team are to be made redundant.
In 2015, the world’s second-largest brewer became the focus of a takeover approach fromAnheuser-Busch InBev (AB InBev) (at press time valued at £79bn). Since the deal was signed, a review was held and the company’s structure overhauled in August.
Continue reading “SABMiller legal team faces autumn redundancies as £79bn AB InBev deal closes”
The drawn-out legal battle between property billionaires, Vincent and Robert Tchenguiz, and those they hold responsible for the Serious Fraud Office (SFO)’s botched investigation into their business dealings has proved a costly affair. It has emerged they have already paid out a collective £5.1m legal bill to date in their £3bn litigation against Grant Thornton and others, surpassing the SFO’s £4.5m settlement to the pair two years ago.
First filed by Vincent Tchenguiz after a settlement with the watchdog in 2014, the pair allege defendants, includingGrant Thornton, conspired to pass information, dishonestly, to the SFO in order to instigate and encourage an investigation by the watchdog into his relationship with collapsed Icelandic bankKaupthing, and that they did so for their own commercial gain.
Continue reading “Tchenguiz brothers’ legal bill hits £5.1m in court battle against Grant Thornton”
Lee Ranson clear favourite to take chief executive role
Eversheds has begun talks to forge a new leadership team as the firm strives to avoid a divisive contest after current chief executive Bryan Hughes steps down next May. Current managing partner Lee Ranson is expected to take Hughes’ role in a management structure with two other partners.
Legal Business understands that current international managing partner Ian Gray’s post will change or a new role may be created, while global company commercial head Keith Froud is likely to be appointed as the new managing partner by Ranson.
Continue reading “Eversheds consults on new management structure”
New software boosts expansion plans for firm’s start-up
RPC’s insurance management consulting arm is pursuing significant expansion as it bids to hit a £50m turnover target within the next five years.
RPC Consulting managing partner Rory O’Brien said the start-up had been boosted by its acquisition of financial modelling tool Tyche last year, which has led to new deals with high-profile insurance clients.
Continue reading “RPC Consulting targets £50m turnover in plans to challenge Big Four”
