Legal Business

Significant departures: BLP and Olswang heads of arbitration both leave for the bar

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Nicholas Fletcher QC, who has led Berwin Leighton Paisner‘s international arbitration practice for the last five years, has resigned from the firm to join barristers’ chambers 4 New Square while Olswang arbitration chief Andrew Aglionby is also set to leave for the bar.

In what will come as a major blow to BLP, Fletcher is set to join 4 New Square as an independent arbitrator on 1 December 2014. The firm has been working hard to establish its own advocacy unit following the hire of Stuart Isaacs QC from South Square three years ago but Fletcher’s exit will raise doubts that the firm can compete with the Bar for instructions.

Fletcher, who spent 23 years at Magic Circle firm Clifford Chance before joining to spearhead BLP’s arbitration push in 2009, made silk earlier this year. He is a member of the International Chamber of Commerce’s task force on the New York Convention, which 152 states around the world have signed in commitment to the enforceability of arbitral awards, and specialises in handling disputes in the energy, oil and gas and natural resources sectors.

Singapore-based Kent Phillips and London-based Richard Power will co-head BLP’s international arbitration group on Fletcher’s departure.

Fletcher told Legal Business: ‘I’ve enjoyed leading and helping to build the international arbitration practice at BLP and I’m confident it will continue to thrive. After 30 years acting as counsel in international arbitration, I hope and believe I’ve got something to offer as an international arbitrator.’

Over the last 12 months 4 New Square has been aggressively expanding its international arbitration group. The set appointed Murray Rosen QC in June after he resigned as head of advocacy at Herbert Smith Freehills earlier in the year and energy arbitration specialist Paul Cowan joined from White & Case in May.

Head of 4 New Square, Ben Hubble QC, commented: ‘We are absolutely delighted to welcome Nic as a member of chambers. He is a doyen of the international arbitration community and further strengthens our offering in that area.’

Meanwhile, Aglionby who became a member of the ICC Commission on Arbitration last year has also decided to leave his role as head of arbitration at Olswang.

He was appointed to the position in 2011 after joining the firm a year earlier from Baker & McKenzie where he had worked for 17 years. He spent ten years as Baker & McKenzie’s head of international arbitration in Asia Pacific and also headed the firm’s construction group in Hong Kong.

Before his career at Baker & McKenzie, Aglionby was an assistant solicitor at legacy firms Denton Wilde Sapte and DJ Freeman – whose property team was taken over by Olswang in 2003.

Aglionby told Legal Business: ‘I have been very happy working at Olswang and deciding to join the bar was a personal preference.’ He added that he is yet to decide which set he is joining.

Olswang is currently reviewing options in regards to Aglionby’s successor. Richard Bamforth, head of Olswang’s litigation group said: ‘Andrew is planning to transfer to the Bar and will be leaving the firm in a few months. We wish him all the best for this change of career and thank him for his contributions to the international arbitration practice and the firm.’

tom.moore@legalease.co.uk, jaishree.kalia@legalease.co.uk

Legal Business

Nabarro forms new French alliance with Lefèvre Pelletier

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Tie-up occurs after August & Debouzy quit network in March

French law firm Lefèvre Pelletier & associés will join Nabarro’s international alliance following the exit of former French member August & Debouzy in March this year.

Legal Business

Seeking new opportunities: Olswang’s former CEO Stewart resigns

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After unexpectedly stepping down from his management role, former Olswang chief executive David Stewart has officially resigned from the firm, and is currently seeking new opportunities.

In early October, Stewart announced he would be stepping down from his chief executive role halfway through his term. He joined the firm in 1997 as a litigation partner, became the firm’s managing partner in 2007, and dropped the title in 2010 after he was elected as CEO.

He also chaired the firm’s executive committee and implemented its global strategy. Before Olswang, Stewart was a partner at legacy firm SJ Berwin & Co from 1992 until 1997, where he became a partner in the litigation group in 1995.

A spokesperson at Olswang confirmed that Stewart has resigned and is looking for new opportunities. The firm added that Stewart could not be reached through Olswang as he was now not under the firm’s responsibility.

According to Stewart’s profile on networking website LinkedIn, he said: ‘I am now looking to use the skills and relationships I have built over my career to date in interesting new roles and projects around the world. Please feel free to get in touch.’

Intellectual property specialist Michael Burdon was chosen to assume Stewart’s position on a temporary basis for a maximum of a year last month. The partnership is expected to elect a new CEO in due course.

Olswang board chairman Dirk van Liederkerke said at that time: ‘We are extremely grateful to Michael Burdon for agreeing to step in as CEO. He will have the full support of the board while arrangements are made for the election of a new CEO on a permanent basis.’

jaishree.kalia@legalease.co.uk

Legal Business

‘A matter of chemistry’: Nabarro finds a new alliance partner in French firm Lefèvre Pelletier

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Nabarro has opted for Lefèvre Pelletier & associés to fill the France-sized hole in its international network after August & Debouzy left the alliance in March this year [2014].

The French firm, which has three top tier recommendations in the Legal 500, will ally with GSK Stockmann + Kollegen in Germany, Italy’s Nunziante Magrone and Spanish Roca Junyent as well as the UK’s Nabarro. It brings a North African presence to the network with offices in Algiers and Casablanca as well a Chinese contingent with outposts in Guangzhou and Hong Kong.

The selection process saw Patricia Godfrey, partner and head of international at Nabarro, take the lead in assessing the French market for potential candidates though all members were involved in discussions and meeting a shortlist of contenders. 

Godfrey said: ‘We have found the right French firm with the right culture and the right balance of practice areas to complement and strengthen the alliance. Building meaningful, productive relationships with other firms is often a matter of chemistry. In Lefèvre Pelletier we have found that chemistry.’

Lefèvre Pelletier stood out as the front runner due to its real estate team and its record in handling complex deals, talking to Legal Business, Godfrey added: ‘The Chinese presence was also a significant attraction. They have been established there for many years and have done a good job of sourcing French inbound work.’

The alliance now houses 980 lawyers across 31 offices and involves a programme of secondments, joint practice area meetings as well as referring work between members.

The move follows August & Debouzy exiting the network with the firm citing at the time an intent to grow its own affiliations, founding partner Gilles August, said: ‘This decision allows August & Debouzy an opportunity to develop relationships with other law firms in jurisdictions already covered by alliance members’.

michael.west@legalease.co.uk

Legal Business

‘With our deep gratitude’: Olswang’s CEO Stewart resigns

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Olswang’s chief executive officer David Stewart has stepped down from his role after seven years leading the firm, either as chief executive or managing partner, and is currently considering his options.

The firm announced this morning that Stewart has stepped down from his chief executive role four years after being elected, with intellectual property specialist Michael Burdon assuming Stewart’s position with immediate effect.

Senior partner Mark Devereux said: ‘David has been doing this for seven years and has taken the decision to step down. He created an incredible legacy and has been in charge of the international strategy – it’s a big job.’

He added: ‘The announcement came as a bit of a surprise, not always planned but these things happen.’

Elected as CEO in 2010, Stewart had previously served as the firm’s managing partner since 2007. It is still unclear as to why Stewart decided to step down, but Devereux did say there was a difference in views on strategy, upgrading elements of the firm, office expansions and firm spending, but he also confirmed there will not be a strategic change following Stewart’s departure.

Stewart’s most recent role also saw him chair the firm’s executive committee and implement its global strategy. In addition, he was a member of Olswang’s litigation and arbitration group having joined the firm as a partner and head of commercial litigation in December 1997. Previously he was a partner at legacy firm SJ Berwin & Co.

Burdon heads the European patent litigation team and is a partner in the intellectual property group. He originally qualified in Australia and has experience of advising businesses on maximising the protection, enforcement and extraction of value from their intellectual rights.

The firm confirmed that its partnership will elect a new permanent CEO with a full partnership vote in due course, and that Burdon will continue his client work while taking on the leadership role. 

Olswang board chairman Dirk van Liederkerke said: ‘We are extremely grateful to Michael Burdon for agreeing to step in as CEO. He will have the full support of the board while arrangements are made for the election of a new CEO on a permanent basis.

‘In the meantime, the board will continue to oversee the execution of our strategy. We have built an unparalleled TMT practice as well as a commanding reputation for changing the face of business in a wide range of other industries, from real estate to retail and life sciences to leisure. The firm will continue to grow, in line with the investment priorities agreed with the partners.

‘David has been at the head of the firm for more than seven years and he has done an excellent job implementing the firm’s strategy and managing the business. During David’s tenure as CEO, Olswang has grown successfully, with the firm opening offices in Europe and Asia. He steps down with our deep gratitude for all his hard work and our best wishes for the future.’

jaishree.kalia@legalease.co.uk

Legal Business

Made to measure?

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 MARKET VIEW – ARBITRATION

CMS Cameron McKenna’s Guy Pendell and Lindy Patterson QC assess industry sectory arbitration and the role of the specialist institution

Arbitration is available to resolve almost any dispute between parties capable of giving legal consent. Arbitration is available for religious groups through Beth Din (for the Jewish community) and the Muslim Arbitration Tribunal (providing arbitration in accordance with Islamic Sacred Law). Meanwhile, disputes between the NHS and service providers, salary disputes for US National Hockey League players and disputes over sharemilking in New Zealand’s dairy regions can all be determined by specialist arbitration procedures.

Legal Business

‘I was impressed by the firm’: Farrer & Co turns to CMS Cameron McKenna financial control chief to boost growth

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Private client-focused firm Farrer & Co has made concerted efforts to polish its growth strategy, and has recruited CMS Cameron McKenna‘s head of financial control Julian Eastlake to develop the firm’s financial direction in a bid to optimise profits and sustain the growth of the partnership.

Having joined Cameron McKenna from accountancy giant PricewaterhouseCoopers’ UK arm in 2009, Eastlake was responsible for leading the firm’s financial accounting, as well as delivering its annual budget process, and production of monthly profit and loss reporting for the Board and management. He also had oversight of tax compliance and of partners’ tax affairs, and assessed the firm’s back-office sourcing options, recommending it outsource 70% of support functions.

It also led to the firm’s deal with outsourcing provider Integreon, the largest of its kind worth just under £600m, in May 2010 where the firm outsourced its entire support staff function, including finance, human resources and IT. It further made roughly 9% of its support staff redundant and relocated another 21% to either Bristol or India. Last year, the firm subsequently scaled back its staff outsourcing agreement with Integreon just three years into its ten-year contract.

Eastlake started at the City-based Farrer & Co earlier this month and is working in an estimated 18-strong team. He has been tasked with engaging and motivating the partnership to understand key commercial issues including effective pricing and matter management policies. Further responsibilities include providing financial analysis and insight to all stakeholders including recommendations for improvements, efficiencies or potential business opportunities.

The deployment of Eastlake comes as the firm this year recorded modest financial results, with revenue flat at £50.7m, which still constitutes a 25% increase since 2009, and a 3% rise in profit per equity partner to £440,000.

On his move, Eastlake told Legal Business: ‘I was impressed by the firm and the people I met during the interview process. My role at CMS was reasonably broad but it was within a larger firm and a larger team. There were some limitations in that capacity as to what I could do. Here, I feel I will have broader scope, and the ability to work more closely with partners and with the firm’s direct strategy. It’s a flatter structure, if you like, than it was at CMS’.

Other prominent hires of late includes experienced trial lawyer and property litigation partner Siobhan Jones from Penningtons Manches who joined the disputes team in July.

sarah.downey@legalease.co.uk

Legal Business

Olswang appoints first board non-executives as it continues management overhaul

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David Chance and Andreas Raffel have joined Olswang today (1 September) as the firm’s first non-executive directors to monitor and support the firm’s executive, develop Olswang’s international strategy and bring an outside perspective.

The new governance structure comes after the firm switched its single management board to a dual structure following a governance review conducted over a year ago. The new structure includes a decision-making executive committee, chaired by chief executive David Stewart, and an elected board which represents the partnership’s interests.

Chance joins Olswang with board and management experience in the Pay TV and Telecoms industries. He was formerly deputy managing director of BSkyB Group and chairman of start-up Top Up TV. He is also chairman of Modern Times Group, non-executive director of PCCW, and a majority shareholder of Hong Kong Telecom, and chairman of its pay TV subsidiary NOW TV. Previously, he was a non-executive director of ITV, O2 and digital rights management group Intertrust Technologies.

Raffel brings 25 years’ board level experience and was executive vice chairman at Rothschild since 2008, following a six-year stint as chief executive of Rothschild in Germany. He also has experience of advising European, US and Asia business on strategic and financial matters across different industries.

Chairman of Olswang’s board, Dirk van Liederkerke, said: ‘A successful business is a connected one and one which is open to contributions from outstanding members of the wider business community. As Olswang grows and strengthens its TMT focus globally in a complex and ever evolving market environment, we can benefit enormously from respected professionals who can add strong industry knowledge and an outsider’s point of view at the same time.

‘David and Andreas will help us to stay on track with our plans for growth, constructively challenge and contribute to our strategy, as well as support our operational leadership. We look forward to working with them on making Olswang an even stronger player in technology, media and telecoms internationally.’

Jaishree.kalia@legalease.co.uk

Legal Business

Trainee retention: Nabarro and Fieldfisher maintain high rates while Trowers & Hamlins drops to 64%

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Nabarro and Fieldfisher have kept on a high number of trainees this month with the latter firm retaining 100% of its intake, while Trowers & Hamlins posts a lower rate of 64%.

Nabarro’s 100% trainee retention rate earlier this year was not repeated, but the firm has maintained a high standard keeping 81% of total trainees, with offers to 14 from a total of 16 and 13 accepting. Ten of the firm’s trainees were kept on in London with the remaining three in Sheffield.

The firm kept on all eight of its City newly qualified lawyers in January and was preceded by a 94% retention rate last September, when 17 from a total of 18 trainees were kept on.

Similarly, Trowers & Hamlins also follows high expectations, but announced a much lower retention rate today (6 August), keeping on seven out of eleven trainees or 64%. Trowers retained 100% of its trainee intake in March 2014 (a total of six) and in 2013, the firm had an overall trainee retention rate of 95%.

Trowers & Hamlins partner and training principal Tonia Secker said: ‘On behalf of the entire firm, I want to congratulate these excellent trainees. They have all worked very hard over the last two years, and it is a great pleasure to be able to offer them permanent roles. We look forward to continuing to work with them and support them as they establish their careers in the law.’

But while both Nabarro and Trowers hit a 100% trainee retention rate in the spring, Fieldfisher has become the latest law firm to keep on an entire cohort in August, keeping on all eleven newly qualified lawyers – albeit from a reduced intake size.

The firm, which runs an annual cohort, kept on disputes, IP and regulatory lawyers, while retaining three newly qualified lawyers in its finance and technology, outsourcing and privacy practices. However the overall intake is still lower than last year, when the firm retained 12 of 17 newly qualified lawyers, which gave it a 71% retention rate.

Edward Miller, Fieldfisher’s training principal, said: ‘It is fantastic news for our newly-qualified solicitors and for the firm. It is a testament to the high quality of the Fieldfisher trainees and underlines the confidence across the firm’s practice areas for their future growth.’

Jaishree.kalia@legalease.co.uk

Legal Business

Dundas & Wilson reveals 4.5% revenue dip alongside 8% PEP increase in its final year

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Once a storied institution in the Scottish legal market, Dundas & Wilson has unveiled its last ever financials and has recorded mixed results, with unaudited figures for the 2013/14 financial year showing a revenue decrease of 4.5% to £47m from £49.2m, while profit per equity partner (PEP) increased 8% to £181,006 from £167,625. The fall in revenue constitutes a 29% drop over the last five years.

Revenue per partner came in at £684,351, equalling a 6.3% rise on the year before. Profit before taxation, meanwhile, fell 3% and stands at £12.4m compared to £12.8m in 2012/13.

Having been one of Scotland’s most revered firms, it endured a downward spiral post-Lehman. Last year it announced a double-digit drop in turnover at the end 2012/13 to £49.2m from £54.5m, with profit down 21% to £12.8m from £16.2m the previous year.

One of the poorest performers in the LB 100 last year, Dundas experienced a 35% drop over a five year period, down from its 2008 high when turnover was £74.8m.

The firm’s misfortunes came to a head in December last year when it was announced that it would combine with CMS Cameron McKenna following six months of talks, giving the Cameron McKenna partnership combined revenues of less than £300m.

Dundas officially lost its name when the merger went live in May and was rebranded as CMS Cameron McKenna following a transitional period. Partners and staff at Dundas’ London office were also expected to move out of their premises in Aldwych to CMS’s new City premises Cannon Place, where the lease will officially begin in 2015.

Prior to the deal, the Scots firm was plagued by mulitple partner exits including construction partner Siobhan McCloskey-Oudahar; head of real estate disputes Andrew Walker; employment partner David Walker; head of environment Mark Brumwell; employment partner Mandy Laurie; IP/IT partner Allan Wardhaugh; and corporate partner and former chairman David Hardie.

For full analysis of the merger from Legal Business click here.

Sarah.downey@legalease.co.uk