Eversheds will continue to search for a US deal after the firm’s top target, Milwaukee-based Foley & Lardner, ended merger discussions last month via a leaked internal memo.
In the memo, Foley chair and chief executive Jay Rothman said that while there had been preliminary conversations around exploring a more formal affiliation between the two firms, ‘no decision was ever made by Foley to pursue such an affiliation’.
Linklaters, Slaughter and May, Allen & Overy (A&O) and Hogan Lovells landed major roles in November advising on the government’s record-breaking £13bn sale of former Northern Rock mortgages, acquired during the financial crisis.
In what was the largest-ever financial asset sale by a government in Europe, the mortgages originally owned by Northern Rock were sold by the Treasury-owned UK Asset Resolution (UKAR) – set up to look after the mortgages nationalised when Northern Rock and Bradford & Bingley ran into difficulty in 2008 – to Cerberus Capital Management.
Continue reading “City firms line up on £13bn sale of Northern Rock mortgages”
Linklaters continues to leverage its relationships with Chinese banks and corporates, winning four high-profile capital markets mandates as the country internationalises its economy.
With China looking to open up an offshore renminbi debt market, Linklaters won the race to handle the People’s Bank of China debut international bond sale, a move that will act as a calling card for Chinese mandates in the future.
Continue reading “China’s offshore push: Linklaters picks up high-profile mandates”
FRESHFIELDS AND LATHAM ADVISE ON BARCLAYS SPIN OFF
Freshfields Bruckhaus Deringer and Latham & Watkins have acted on the spin-off of Barclays’ natural resources private equity arm in a management buyout. Barclays Natural Resources Investments was purchased by its managers after being placed into Barclays’ non-core asset pile following a restructuring last year. Freshfields acted for Barclays, while Latham advised management.
Continue reading “Deal watch: Corporate activity in November 2015”
Germany saw a flurry of activity last month, with Freshfields Bruckhaus Deringer and White & Case pulling out of several markets and consolidating their operations, while Herbert Smith Freehills (HSF) went the other way and set up shop in Düsseldorf.
Freshfields announced plans to cut one of its six offices in the region, with its Cologne and Düsseldorf bases set to merge in 2016. The cut means 240 fee-earners will be located in one office – which is yet to be decided, though Cologne is regarded as more likely to shut – as the Magic Circle reconfigures its German operations. A spokesperson at the firm said the merger is ‘not driven by cost or a requirement to downsize’, but to create ‘greater efficiency’ and have ‘more lawyers in a single location to offer a stronger and more specialist platform’.
Continue reading “‘Challenging to maintain’: German market has volatile November”
Chair Joe Andrew boasts: ‘Dentons has accomplished more for clients in one year than any other firm’
Dentons further cemented its status as the world’s largest law firm by lawyer headcount in November, with partners approving a three-way union with Australian firm Gadens and Singaporean practice Rodyk & Davidson.
Continue reading “Dentons approves tie-up with Australian and Singaporean firms”
My summer holidays were spent licking envelopes at my parents printing factory in Hemel Hempstead. My parents were an odd mix, my mum an Italian immigrant and my father as English as they come. They were very keen that I have a profession as they wanted something better for their kids. The business is still in the family.
I learnt classical guitar as a kid. Every time I got to the next grade, a bit like a dog getting a treat, I got a guitar. I had a room full of guitars in my late teens. My Fender Stratocaster is one of my most prized possessions. They end up getting used more by my daughter now.
I was crazy about basketball as a kid and toured with the England youth teams. Nowadays I wouldn’t get anywhere near a team – I’d need to be twice as big.
Continue reading “Life During Law: Stephen Wilkinson, Herbert Smith Freehills”
Eversheds is moving closer to its much sought-after US merger, with Foley & Lardner identified as the primary candidate for a deal.
After a vote last June in which the Eversheds partnership heavily backed a US tie-up the firm’s executive, which includes chair Paul Smith and chief executive Bryan Hughes, have narrowed discussions down to two law firms. Milwaukee-based Global 100 firm Foley & Lardner, with revenues this financial year of $665m, has emerged as a leading candidate.
Continue reading “Eversheds inches closer to US tie-up as Foley & Lardner emerges as front runner”
In-house lawyers have been notoriously slow to embrace the tech-backed delivery of legal services, but our survey of more than 600 global legal spend decision makers shows many believe technology will transform the way they work.
More than half of those surveyed expect automated legal services to have a significant impact on the way corporate legal functions serve business within the next three years.
Continue reading “More than half of GCs expect AI to reshape their teams within five years”
Sector activity to become core part of pay assessment
While other major firms break their locksteps to bring in high-profile recruits, DLA Piper is going the opposite way, launching a review of its remuneration structure to encourage greater cross-selling throughout the firm.
The review is being led by co-chief executive Simon Levine, who pledged to review the firm’s remuneration system as part of his successful bid to take over from Sir Nigel Knowles last year.
Continue reading “Sharing the pie: DLA Piper launches meritocratic remuneration review”
