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”
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”
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”
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”
Emily Bernstein is an experienced private banker at Investec who specialises in supporting legal leaders and senior lawyers
Q: I earn £1m a year but I can’t get the mortgage I need. What are my options? Continue reading “Sponsored briefing: Ask the private banker to senior lawyers”
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”
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The data breach landscape is ever-changing and being aware of the latest threats is imperative for responding effectively to a data breach.
According to TransUnion’s recent researchi, IT professionals from UK organisations see phishing attempts as the most likely data breach risk in the coming years, with 47% putting it among their top threats. Hybrid and remote working – and the lower level of oversight on security that comes with it – were also named a top future risk by 36%. Continue reading “Sponsored briefing: Recovering from a data breach and the role of legal experts”
In March, Virtual Vaults attended the Corporate and M&A Summit 2023. If we learnt something from this event, it is that dealmaking in today’s volatile market brings a bunch of challenges. Virtual Vaults delivers a Virtual dealmaking platform, from due diligence preparation, to Data Room, and closing archive. We are about the here and the now in dealmaking.
As Jeroen Kruithof emphasised during the Summit, Virtual Vaults strives to lead the market rather than being the market leader. Everyone is familiar with the necessity of a VDR, but developing the right features is key for an efficient Due Diligence process. VV has always focussed on developing the best process solutions. This in combination with our intuitive User Interface, has resulted in an excellent client experience thus becoming the market leader in the Benelux. Continue reading “Sponsored briefing: Brought to you by Virtual Vaults”
For many, the collapse into administration of the Ince Group, the listed parent company of storied shipping firm Ince, was inevitable. A procession of public mishaps and falling revenue, combined with a string of high-profile partner departures, had left the future of the firm hanging in the balance for several months.
In April, following a drawn-out audit process for the financial year ended 31 March 2022, The Ince Group cited in a statement to the London Stock Exchange ‘increasing pressure on the cash flows of the business’, due to the length of the auditing process, as the push factor for entering administration. The audit is incomplete. Continue reading “‘A black hole is not formed overnight’: Ince Group administration marks the demise of a storied shipping firm”
