Allen & Overy news, updates and analysis | Page 5 of 34

After what was viewed as a too-close-to-call contest, Allen & Overy (A&O) partners have elected Wim Dejonghe as senior partner for a second four-year term.

The move is a vote of confidence for Dejonghe (pictured), who had stood against another heavyweight candidate in the form of Philip Bowden, the City giant’s well-regarded banking co-head. The election also came in the wake of a contentious failed bid for a US merger.

Dejonghe has been part of A&O’s senior leadership team since 2008, first as global managing partner, and since 2016 as senior partner. He joined A&O in 2001, having previously been a partner at Loeff Claeys Verbeke since 1993. He led A&O’s Belgian offices from 1996 until his election as A&O’s global managing partner. He also co-headed the firm’s global corporate practice.

The managing partner role is set to be decided later this week on Thursday (27 February) and is the more open field of the two since incumbent Andrew Ballheimer said in December that he would retire from A&O at the end of his current term on 30 April 2020.

The London candidates in the running are global head of projects Gareth Price and litigation head Karen Seward, two high-profile figures who have been considered serious contenders. Vicki Liu, the managing partner of Hong Kong and APAC and regional head of banking, is also in the race, as is Dirk Meeus, the Belgium managing partner and co-head of global corporate in Brussels.

The leadership elections come at a critical time for a firm having to come to terms with tricky strategic decisions around its US strategy after Ballheimer and Dejonghe were forced to abandon marathon merger talks with West Coast firm O’Melveny & Myers last autumn.

The successful candidates will be expected to take up the baton of redoubled investment in the US, with Ballheimer promising last September ‘more focus and speed of execution’ in its Stateside recruitment push.

The collapse of the O’Melveny talks was seen by some as a very public reversal for the A&O leadership that could potentially have damaged Dejonghe’s bid for re-election.

Since then, the firm has had mixed fortunes on the US front, adding US capability in London in the form of financial services regulation counsel Knox McIlwain as a partner from Cleary Gottlieb Steen & Hamilton in September, while the following month losing New York leveraged finance partners Alan Rockwell and Michael Chernick to Shearman & Sterling.

The long-sought deal with O’Melveny also caused some corporate partners to shop around at US rivals, with the departure from London of prominent corporate partners Simon Toms and George Knighton to Skadden, Arps, Slate, Meagher & Flom ten days after the merger collapsed seen as significant collateral damage.

Both successful candidates will take up their posts on 1 May 2020.

nathalie.tidman@legalease.co.uk

For more analysis on A&O’s leadership election click here 

As voters head to the polls on UK general election day, Allen & Overy (A&O) has confirmed the names of six partners who will vie for leadership in its own election in February.

Senior partner Wim Dejonghe (pictured) is standing for a second term and will be up against Philip Bowden, the City giant’s well-regarded banking co-head.

The managing partner spot is more hotly-contested after Andrew Ballheimer said earlier this month that he would retire from A&O at the end of his current term on 30 April 2020. The London candidates are global head of projects Gareth Price and litigation head Karen Seward, two high-profile figures who will be considered serious propositions. Vicki Liu, the managing partner of Hong Kong and APAC and regional head of banking, has also thrown in, as has Dirk Meeus, the Belgium managing partner and co-head of global corporate in Brussels.

The leadership race comes at a crucial time for a firm grappling with thorny strategic decisions around its US strategy after Ballheimer and Dejonghe were forced to abandon marathon merger talks with West Coast firm O’Melveny & Myers in the autumn.

Ballheimer was elected as managing partner in May 2016 and before that was global co-head of corporate. He succeeded Dejonghe, who took up the role of senior partner at the same time.

Successors will be expected to take up the baton of redoubled investment in the US, with Ballheimer promising in September ‘more focus and speed of execution’ in its Stateside recruitment push.

Since then, the firm has had mixed fortunes on the US-front, adding US capability in London in the form of financial services regulation counsel Knox McIlwain as a partner from Cleary Gottlieb Steen & Hamilton  in September, while the following month losing New York leveraged finance partners Alan Rockwell and Michael Chernick  to Shearman & Sterling.

The long-sought deal with O’Melveny also caused some corporate partners to shop around at US rivals, with the departure from London of respected corporate partners Simon Toms and George Knighton to Skadden, Arps, Slate, Meagher & Flom only 10 days after the merger collapsed seen as significant collateral damage.

The election process will see voting take place in February with the senior partner to be announced on 24 February and the managing partner on 27 February. The successful candidates will take up their posts on 1 May 2020.

Nathalie.tidman@legalease.co.uk

For more analysis on A&O’s election see our recent comment piece ‘If A&O’s new leadership team can’t get a mandate, who can?’

As the Allen & Overy (A&O) leadership elections heat up, managing partner Andrew Ballheimer has announced his retirement from the firm at the end of his current term on 30 April 2020.

The surprise move comes in the month the City giant is to announce the list of contenders for senior partner and managing partner and follows an eventful couple of years dominated by the marathon merger bid with O’Melveny & Myers, which was abandoned in the autumn.

Ballheimer was elected as managing partner in May 2016 and before that was global co-head of corporate. He succeeded Wim Dejonghe, who took up the role of senior partner at the same time.

Commenting on his decision, Ballheimer noted in a statement: ‘This has been an immensely difficult decision for me, as A&O has been my professional home for almost a lifetime and it has been a unique privilege to serve in my current role. I am happy that the firm is in such great financial shape and, as a result, after 35 years in private practice, including 15 years in various senior leadership roles at A&O, I feel it is a good time to explore new challenges in the outside world, including in the wider community, before I am too old!’

The firm said in a statement that during Ballheimer’s tenure, client revenue grew 26% and profit per equity partner grew 38% in the first three financial years, while the current financial year’s trading ‘continues this trend of significant growth.’

The 58-year-old lawyer’s departure paves the way for potential candidates such as litigation chief Karen Seward and projects head Gareth Price, both of whom have been cited as potential candidates for the managing partner role.

There has also been talk that Philip Bowden, the firm’s respected banking co-head, is likely to stand against Dejonghe for the senior partner role, with infrastructure head David Lee seen as another potential figure. The field of candidates is due to be unveiled on 12 December, with the winners announced in February.

Ballheimer joined A&O in 1987 and became partner in 1994. He has worked in London, Tokyo and New York, where he was head of international capital markets. He was managing partner of the London corporate department from 2005 to 2010 and then global co-head of corporate from 2010 to 2016.

nathalie.tidman@legalease.co.uk