‘The raconteur’s raconteur par excellence’: Industry mourns loss of ESG luminary Paul Watchman

‘The raconteur’s raconteur par excellence’: Industry mourns loss of ESG luminary Paul Watchman

‘Have I told you my friend’s story about being a munchkin in The Wizard of Oz in Aberdeen in the 1980s? Phone me when you are bored.’ Such messages – as apparently apropos of nothing as they were impossible to ignore – were not uncommon from Professor Paul Quayle Watchman, former Freshfields partner and ESG guru who sadly passed away at the start of July.

Paul’s more irreverent missives were often intermingled with ‘serious’ work-related emails about ESG initiatives, the climate crisis and other subjects which were close to his heart. Another of the best reads: ‘I’m having a few days away at a spa hotel. I can’t loosen the knots. Help me Nathalie. Send scissors to Room 125. Better make it bolt-cutters.’ Paul always used good humour as an antidote to the more depressing side of modern life and for that, he earned a tremendous following, both professionally and personally. Continue reading “‘The raconteur’s raconteur par excellence’: Industry mourns loss of ESG luminary Paul Watchman”

Sponsored briefing: Ask the private banker to senior lawyers

Sponsored briefing: Ask the private banker to senior lawyers

Emily Bernstein is an experienced private banker at Investec who specialises in supporting legal leaders and senior lawyers. Here, she tackles the unique financial challenges facing senior legal professionals

‘Currency markets have been volatile and I’ve lost control of my US dollar income. What can I do?’ Continue reading “Sponsored briefing: Ask the private banker to senior lawyers”

Life During Law: Jeroen Ouwehand

Life During Law: Jeroen Ouwehand

I never thought I would be a lawyer. I’m from Amsterdam, and I did a student traineeship in 1991, which was quite a common thing for Dutch law students back then. It’s like a summer internship at a law firm. I was blown away by Clifford Chance – the dynamism, the people, the quality of the work. I just loved it. I was given the chance to apply for a job to start the year after and I got it. That was quite unusual in those days because the job market wasn’t easy.

If you’d asked me at the age of 23 or 24, I would have said I wanted to go into international relations or business. Before I studied law, I was thinking of going to a university in the US which was strong on international relations, then go and work at an international organisation. My fascination with international relations very much came into force in my former role as senior partner and now as leader of our global ESG board. Continue reading “Life During Law: Jeroen Ouwehand”

Departures from Shearman and Allen & Overy as merger is unveiled and energy dominates lateral hiring

Departures from Shearman and Allen & Overy as merger is unveiled and energy dominates lateral hiring

Following the announcement of the proposed A&O Shearman merger, news came that Shearman & Sterling had lost two partners to Ashurst in London, which leads the headline moves – dominated by energy and infrastructure hires – in recent weeks.

London-based Shearman partners Sanja Udovicic and Julia Derrick moved over to Ashurst to expand the firm’s global energy team. Continue reading “Departures from Shearman and Allen & Overy as merger is unveiled and energy dominates lateral hiring”

Getting its mojo back: How A&O Shearman could redefine the Magic Circle

Getting its mojo back: How A&O Shearman could redefine the Magic Circle

The proposed merger of A&O and Shearman & Sterling has got the market talking about the biggest news in the legal industry for decades. LB finds commentators sanguine on the deal – but management will have much work garnering partner support this summer ahead of the vote.

‘Allen & Overy and Shearman & Sterling to create the first fully integrated global elite law firm,’ proclaims the 21 May joint statement from the two firms, stating their intent to merge to create Allen Overy Shearman Sterling. Thankfully, the branding gurus also came up with the far snappier (and not quite so ampersand-devoid) A&O Shearman, ‘for short’. The combined firm would boast 3,900 lawyers across 49 offices and roughly $3.4bn in combined revenues. Continue reading “Getting its mojo back: How A&O Shearman could redefine the Magic Circle”

Clifford Chance names Cohen first New York managing partner amid fresh bid to crack America with Houston office opening

Clifford Chance names Cohen first New York managing partner amid fresh bid to crack America with Houston office opening

In the wake of Allen & Overy’s stated ambition to merge with Shearman & Sterling, announced in May, Magic Circle peers have found themselves in the unenviable position of having to demonstrate to the market that they also have a coherent US expansion strategy.

Clifford Chance (CC) did not disappoint, on 15 June naming Ness Cohen as the first ever managing partner of its New York office. Cohen, a real estate lawyer by trade, has worked at CC since 1998 and was promoted to the partnership in 2007. He has also held the positions of regional practice area leader of the Americas real estate practice and chair of the Americas personnel committee. Continue reading “Clifford Chance names Cohen first New York managing partner amid fresh bid to crack America with Houston office opening”

‘Carveouts are here to stay’: green energy deals dominate as major players see signs of a bounceback

‘Carveouts are here to stay’: green energy deals dominate as major players see signs of a bounceback

Early 2023 has been a tough time for deals. In our 2023 Deals Yearbook, for instance, citing Dealogic, we noted a decline in both the volume and value of deals. Q1 2023 saw just 601 deals totalling $19.6bn in the UK, while globally there were 9,400 deals worth a little under $591bn. This marks the lowest UK Q1 since 2009, and the lowest global Q1 since 2012.

Recent weeks, though, have seen an uptick in multibillion-dollar activity. And, while it is certainly too early to declare that we are out of the woods, the mood among corporate lawyers has lifted: more ‘cautious optimism’ than ‘doom and gloom’. Continue reading “‘Carveouts are here to stay’: green energy deals dominate as major players see signs of a bounceback”

Sponsored briefing: How GCs can manage the opportunities and risks of the Unified Patent Court

Sponsored briefing: How GCs can manage the opportunities and risks of the Unified Patent Court

The unprecedented global events of the past three years and growing importance of advanced technologies, such as artificial intelligence, have highlighted the role of innovative solutions in addressing new challenges. These events, including the Covid-19 pandemic and green transition, as well as the present economic slowdown, have led businesses to evaluate risk management strategies and exploit every opportunity to maximise revenue and reduce costs.

The success of businesses in technology-rich sectors – such as life sciences and communications technologies – is often underpinned by robust intellectual property (IP) strategies. However, sound IP management strategies are not limited to one sector: they play a role in the success of all businesses. Continue reading “Sponsored briefing: How GCs can manage the opportunities and risks of the Unified Patent Court”