Following the fallout of failed merger talks between Berwin Leighton Paisner (BLP) and Greenberg Traurig, it has emerged the UK firm’s leadership was an issue for the Miami giant.
The merger had promised to create a property and disputes giant across the Atlantic and one of the most distinctive law firms in the global market but was called off in March.
The Serious Fraud Office (SFO) has been criticised for shutting down its investigation into alleged rigging in the foreign exchange (forex) market after it could not find sufficient evidence to prosecute.
Despite some of the world’s largest banks being fined billions for forex rate manipulation, the UK’s fraud watchdog dropped the probe in March without bringing any charges.
Continue reading “Fit for purpose? Critics round on SFO as forex charges are dropped”
Following a major overhaul of its practice structure, King & Wood Mallesons (KWM) said in March it would axe 15% of its Europe and Middle East partnership, and make 45 business services employees redundant in London.
The move means 24 partners will leave the firm and is the second shake-up of the legacy SJ Berwin partnership in 12 months, when another 10% of the partnership across the region were asked to leave following a performance review.
Continue reading “KWM to cut 15% of legacy SJ Berwin partnership following major shake-up”
Victoria Young assesses the approach to implementation of ring-fencing rules
Though the deadline for full implementation is over two years off, the looming threat of so-called ring-fencing reforms is already having a major impact on UK banking groups and their legal teams.
Börse/LSE tie-up raises regulatory concerns
As Europe’s two largest financial market operators, the London Stock Exchange (LSE) and Deutsche Börse, begin their third attempt at a tie-up, concerns have been raised over antitrust issues.
Three Magic Circle firms have closed the £2bn sale of London City Airport to a Canadian-led consortium of investors.
Linklaters, Freshfields Bruckhaus Deringer and Slaughter and May acted on the sale of the airport, located six miles from London’s financial district, which was completed late March after the Canadian consortium competed with two Chinese bidders.
Continue reading “Magic Circle trio land £2bn London City Airport sale”
International firms target local mergers in regional hub
Asia’s burgeoning economic growth coupled with new initiatives from the Association of Southeast Asian Nations (ASEAN) community has seen further interest in Singapore’s legal market spike as Global 100 firms explore new ventures in the city-state.
Garrigues continued its global expansion by hiring its first English-qualified partner in the City with the arrival of Winston & Strawn’s co-head of international arbitration, Joe Tirado, to start an arbitration practice. The launch comes in the same month the firm added Chile to its Latin American network.
Tirado will become co-head of international arbitration as the firm seeks to provide a London hub for disputes in Latin America, where alternative dispute resolution has become commonplace following a series of investor-state disputes stemming from the nationalisation of energy assets across the continent in the 1990s. Tirado becomes the second lawyer in Garrigues’ London office, alongside corporate lawyer Ignacio Corbera Dale.
Continue reading “Garrigues ramps up global push with London arbitration play and Chile tie-up”
Victoria Young talks to the singular City player about success and bucking the market
‘Strong culture’, ‘high quality’ and ‘entrepreneurial’ are phrases repeatedly associated with Macfarlanes among peers and former staff. And its recently re-elected executive has no desire to debunk the image of a hard-nosed, competitive shop.
REED SMITH REPLACED AS SIEMENS REFRESHES PANEL
Last month Eversheds and Osborne Clarke were reappointed to Siemens UK’s legal panel, while Addleshaw Goddard replaced Reed Smith, following a review. The new panel will last for three years.
