DLA shows African ambition with dual office launch

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Global 100 firm goes alone after warning alliance firms to integrate

DLA Piper’s split from South African associate firm Cliffe Dekker Hofmeyr two months ago has spurred the world’s second largest law firm into action, deciding to go it alone in Africa through launches in Morocco and Johannesburg.

The moves mark DLA’s first on-the-ground presence in Africa, having enjoyed a relationship with firms on the continent through its Africa group since 2006. The office in Casablanca is already open for business, while Johannesburg will launch by March 2016. The launches follow a warning to its associated firms that failure to integrate with the rest of the network could result in broken relationships and a competitor instead of a friend.

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La Dolce Vita: Dentons opens first Italian office with DLA hires

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Dentons has opened its first office in Italy having hired 21 lawyers, including three partners from DLA Piper, as well as from a local employment law boutique.

Leading the team from DLA is the firm’s former managing director for Europe and Africa, Federico Sutti, who also previously served as Italy managing partner for more than 16 years. He joins energy partner Matteo Falcione and real estate expert Federico Vanetti. Partners Aldo Calza and Iacopo Aliverti Piuri are also joining from employment law boutique hELP, which was founded by Calza after leaving DLA Piper.

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Worldpay IPO to spark London fintech boom after £2.2bn float

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Dealmakers predict end-of-season deal flourish in Q4

London’s goal of becoming a hub for tech companies to list took a further step in October, after payment processing company Worldpay floated on the London Stock Exchange in the largest City listing so far this year.

Allen & Overy (A&O), Freshfields Bruckhaus Deringer and Weil, Gotshal & Manges all scored roles as City-headquartered Worldpay sold 51% of its outstanding shares, raising £2.16bn with Worldpay receiving about £947.8m.

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Moving on: homebuilder McCarthy & Stone turns to A&O for its November listing

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Regular counsel Freshfields advises lead arrangers on £1bn IPO

Retirement home builder McCarthy & Stone has selected Allen & Overy (A&O) to advise on its £1bn initial public offering (IPO) as it prepares this month to return to public ownership almost a decade after the developer was taken private.

McCarthy & Stone’s appointment of A&O is a move away from Freshfields Bruckhaus Deringer, which was listed as the developer’s solicitor in its most recent annual report in 2014. However, Freshfields already has a lead role on the float, acting for underwriters Deutsche Bank, Goldman Sachs and Jefferies International, with partner Mark Austin leading the team.

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DealWatch Corporate activity in October

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MAGIC CIRCLE DUO SERVE UP QUORN DEAL

Linklaters and Allen & Overy (A&O) took lead roles as the private equity owners of meat-substitute Quorn disposed of the business to a Filipino noodle maker. Linklaters advised Monde Nissin, which bought Quorn for £550m, while Quorn’s owners Exponent Private Equity and Intermediate Capital Group were advised by A&O.

 

 

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City firms poised to ride fintech wave

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Victoria Young reports on the diverse mix of law firms  looking to take advantage as finance meets technology

UK Economic Secretary Harriett Baldwin isn’t holding back on the government’s ambitions for the fintech industry in the UK.

‘We are already a major player in financial technology; our ambition is now to be the major player – the leading fintech centre in the world,’ she recently said, ahead of announcing reviews of so-called ‘robo-advisers’ – online wealth management services.

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Life During Law – Edward Sparrow

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The legal market has become more competitive. One way of measuring yourself is profit share. For some partners, the size of this share is very important. When I started getting offers, I realised money wasn’t something that motivated me. Other factors were much stronger.

I started out with a managing clerk – he was a bad influence in terms of litigation because he was at a stage where he couldn’t be bothered with the detail, but he was fantastic. He was the firm’s troubleshooter. Whenever the client had a problem – if there was fraud in the factory or somebody was stealing – he was the guy that got called in. He was like something out of a 1970s police programme. He was my first influence.

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Allen & Overy gears up to replace its C-suite as Morley to retire in 2016

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Morley and Dejonghe near end of terms as Magic Circle management shuffle continues

It will be the end of an era at Allen & Overy (A&O) come May 2016 when senior partner David Morley and global managing partner Wim Dejonghe step down from their current leadership roles, with Morley retiring from the firm after 36 years.

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Debevoise and Reed Smith face off as BAT launches €578m claim against PwC

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Litigators at the London arms of Debevoise & Plimpton and Reed Smith have been drafted in on a €578m (£418m) professional negligence claim brought by British American Tobacco (BAT) against Big Four accountancy firm PwC.

BAT has instructed Kevin Lloyd, a partner at Debevoise & Plimpton, to bring the claim against PwC in the Chancery Division of the English High Court. The legal action stems from PwC’s audit of paper maker Windward Prospects, a company with which BAT has a long-running dispute over the cost of cleaning up a polluted river in Wisconsin. BAT alleges PwC failed to fully account for clean-up costs of the polluted river in its audit of Windward.

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Gibson Dunn swoop for HSF capital markets duo boosts English law capability

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Gibson, Dunn & Crutcher’s appointment of Herbert Smith Freehills’ (HSF’s) capital markets duo Steve Thierbach and Chris Haynes is an important step in building the firm’s English law transactional capability.

Thierbach, who was HSF’s global markets chief, is one of the City’s most established capital markets lawyers. His hire, along with corporate partner Haynes, comes as part of Gibson Dunn’s wider corporate play in London.

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