Legal Business

Lawyers On Demand thinks it’s going to solve your secondee problem with its latest product launch

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Innovation Berwin Leighton PaisnerDLA PiperLawyers On Demand

Mounting client demand for secondees has long been a bugbear for City law firms, a reality that one of the most feted New Law brands is now hoping to turn into a business opportunity.

Lawyers On Demand(LOD) is today (31 August) launching a service to provide lawyers specifically for secondments to law firms for their clients, a shift from LOD’s core model of providing short-term placements direct to in-house teams.

The service – dubbed Secondment Solutions – will see LOD’s existing lawyers sent out on secondment under the banners of the client law firms, meaning that firms will not have to use their own permanent staff to meet demands from core clients. Rising demand for secondees from major plc clients has become an increasing source of tension for large law firms, depriving them of productive associates and disrupting their staff development programmes.

LOD co-founder Simon Harper (pictured) told Legal Business that Secondment Solutions has already been trialled with a few firms, including DLA Piper, for ‘quite some time’.

Harper commented: ‘Law firms have problems with client secondments. Sometimes they just do not have the available people and cannot afford to lose a fee-earner. Secondment Solutions is about making sure that the relationship between law firms and in-house clients is a positive one.’

Harper maintained that clients will be content with trading legal expertise from their law firm to LOD and added: ‘The service has gone down well. Clients seem to be open minded. In a sense they get the best of both worlds between us and the law firm.’

Aside from major banks, Harper said that clients from the TMT sector have already used the service.

The move once again highlights LOD’s drive to widen its law firm client base, which currently generates over 20% of its UK revenues. Unlike some contract lawyer rivals, which focus almost exclusively on in-house clients, LOD has been seeking to broaden its commercial base with law firms.

Though the business is still majority-owned by Berwin Leighton Paisner, LOD in November 2015 struck a deal with DLA Piper that saw LOD agree to provide contract lawyer services to the global giant.

LOD, which was launched 10 years ago, has been moving to expand internationally, in July unveiling plans to launch in the Middle East.

The business posted 15% turnover growth in its first full-year resultssince it merged with Australia outfit AdventBalance in March 2016, in what was the largest New Law merger to date, pushing global turnover to £35m.

tom.baker@legalease.co.uk

Legal Business

Life during law: Juan Picón, DLA Piper

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Life During Law DLA Piper

I come from a big family. The only male. I have four sisters and was exposed to the talent and influence of women very early on.

My father’s influence led me into law. He had a very small law firm, just himself and another partner. And he was obsessed with me as his successor to get into law but in a different way from him. He was visionary enough to see that the law was going to change and it was better for me to do something different.

Legal Business

DLA Piper and A&O lead firms on Link’s £888m buyout of UK business services group Capita

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Corporate Allen & OveryDLA Piper

Eversheds Sutherland, Macfarlanes, DLA Piper and Allen & Overy (A&O) are advising on Australia-headquartered Link Group’s £888m purchase of UK-based Capita Asset Services (CAS), in an European expansion bid by the business services firm.

DLA Piper and A&O are acting for the Australian financial data expert buyer Link Group on the deal, which is subject to regulatory approvals. It is expected to complete by 31 December.

Eversheds partner Jon Cox-Brown led the team assisting CAS, with corporate and M&A partner Stephen Drewitt headed Macfarlanes’ team, which advised CAS on their options as a result of the deal.

Capita chief executive Andy Parker said in a statement the company had achieved what he considered an attractive price and the deal would mean a ‘significant’ reduction in leverage.

CAS operates in four major business segments, fund solutions, shareholder solutions, corporate and private client solutions, banking and debt solutions, said its estimated expenses on the deal were around £72m. These included separation related costs, such as a £17m one-off pension contribution.

The company said would use the net cash proceeds from the sale to reduce indebtedness, including the company’s receivables financing facility.

CAS administers around £600bn of assets and in 2016 managed circa £45bn in annual payments for its customers.

Link, which provides technology to manage financial ownership data, serves large asset companies and trustees. The group said it would use CAS’s market positions and client relationships to expand across Europe.

Marco.cillario@legalbusiness.co.uk

Legal Business

DLA builds up African presence with Tunisia and Senegal firm buyouts

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Africa DLA Piper

DLA Piper has continued its expansion in Africa with the acquisitions of Tunisian firm El Ajeri Lawyers, based in Tunis and Senegalese firm GENI & KEBE, based in Dakar.

The move builds on its recent Nigerian tie-up and brings the firm’s presence in Africa to nineteen countries and provides the firm with ‘increased coverage in Francophone Africa, the Maghreb region and sub-Saharan Africa.’

El Ajeri is a full service law firm with ten lawyers working across eight sectors including banking and insurance, energy, transport and media and has experience assisting clients in dispute resolution and arbitration. GENI & KEBE is a commercial law firm with 27 members of staff providing advice in litigation and arbitration.

Michel Frieh co-managing partner of DLA Piper’s Paris office said this was an ‘important step’ for both its Paris and Casablanca offices, which have been ‘at the forefront of establishing these relationships with our peers’.

‘With their inclusion, DLA Piper Africa now has a presence across all of the regions on the continent from North to South and East to West, in all working languages.’

In May, DLA announced that it was breaking into Nigeria through an alliance with local firm Olajide Oyewole.

Over recent months, DLA has actively opened and closed several offices. The firm closed down its Berlin office in March as its sole partner there moved to launch DWF’s offering in the German capital. Earlier in March, and later in April, DLA also closed its Tbilisi and Canberra offices respectively. In Georgia, all fee earners, including two partners, departed for Dentons.

Also in March, DLA announced it would integrate widely regarded Portuguese firm ABBC into its global network, with 50 lawyers in the firm’s Lisbon headquarters.

kathryn.mccann@legalease.co.uk

Legal Business

Emerging empires – Bakers, CMS and DLA Piper rise up the ranks as global giants march on

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Europe Baker McKenzieCMSDLA Piper

Ella Marshall and Jonathan Armstrong assess the latest EMEA rankings from The Legal 500

The market continues to evolve in Europe’s key heartlands, as a band of expansive globalised firms spread out their tentacles, while another grouping of more transactionally-driven players strip down their businesses with an eye on profitability. Following the recent publication of The Legal 500 Europe, Middle East & Africa (EMEA) 2017 edition, we look at the winners and losers among major international law firms this year.

Legal Business

‘Reflecting market pressure’: DLA and Latham pick up lead roles on largest toll road merger

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Europe DLA PiperLatham & Watkins

DLA Piper, Latham & Watkins and Legal Business Euro Elite leader Gianni, Origoni, Grippo, Cappelli & Partners all picked up mandates as Italian infrastructure company Atlantia launched a €16.3bn bid to acquire its Spanish rival Abertis.

The offer comprised an all-cash bid that values Abertis at €16.50 per share or a share alternative structure. The merger will be the largest foreign acquisition by an Italian company since utility company Enel bought Spain’s Endesa in 2007 and would create the world’s biggest operator of toll roads.

Legal Business

Clifford Chance, BLP and DLA among firms named on AIG’s new UK roster

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Adviser reviews AIGClifford ChanceDLA Piper

Clifford Chance, Freshfields Bruckhaus Deringer, Berwin Leighton Paisner and DLA Piper are among firms named on American International Group’s (AIG) new UK panel arrangement.

The insurance giant has named 29 firms in total, with Clyde & Co, Eversheds Sutherland and Macfarlanes also making the list.

The panel will last for two years and the process was managed by Patrick Fennelly, director and head of EMEA and APAC law firm management at AIG’s Legal Operations Centre. Fennelly also reports into Chris Newby (pictured) AIG’s EMEA general counsel (GC).

In March Legal Business revealed that the legal team at AIG was to carry out wider panel assessments for Europe, Middle East and Africa following the completion of the UK review.

The panel cycle at AIG EMEA is divided into three groups: the UK, ‘EMEA one’ and ‘EMEA two’. EMEA one includes firms in countries such as France, Germany, Italy, Ireland, the Netherlands and Spain and includes A&L Goodbody, Clyde & Co, CMS Cameron McKenna, DAC Beachcroft, DLA Piper, Kennedys, Norton Rose Fulbright (NRF) and Pinsent Masons.

Meanwhile, EMEA two includes the Czech Republic, Finland, Portugal, Sweden and Norway and also includes Clydes, CMS and DLA alongside Baker McKenzie and Dentons.

While the UK review was finalised on 31 March this year, the deadline for EMEA one firms is 31 July and for EMEA two firms 30 November. The insurer will then move on to reviewing its Asia-Pacific (APAC) legal panel (excluding Japan) to round off the two-year cycle. The 2017/18 reviews will address all business functions other than the recently established panels for asset management and M&A insurance. AIG also reviewed and formalised its Japanese legal panel last year.

AIG declined to comment.

kathryn.mccann@legalease.co.uk

Read more in: ‘A buyers’ market – The trends and traumas in adviser reviews’

The full list of panel firms is as follows:

Berwin Leighton Paisner

Bond Dickinson

BTO

Carey Olsen

Chadbourne & Parke

Clifford Chance

Clyde & Co

CMS

DAC Beachcroft

Dentons

DLA Piper

Eversheds Sutherland

Freshfields Bruckhaus Deringer

Holman Fenwick Willan

Kennedys

Macfarlanes

Mayer Brown

Mills & Reeve

Murphy & O’Rawe

Nabarro

Norton Rose Fulbright

Paul Hastings

Pinsent Masons

Plexus

RPC

Roose & Partners

Simmons & Simmons

Travers Smith

Weightmans

Legal Business

‘Reflecting a strong relationship’: DLA continues global expansion with Nigeria alliance

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Africa DLA Piper

DLA Piper announced today (15 May) that it is entering Nigeria through an alliance with local firm Olajide Oyewole, following three minor office closures and one opening in the space of two months for the firm. Olajide Oyewole was established in 1966 and is based in Lagos.

DLA managing director for developing markets Andrew Darwin said: ‘The admission of Olajide Oyewole and its people to DLA Piper Africa is a real and significant development and reflects the strong relationship we have developed working together side by side for many years.

‘It is a pleasure to officially welcome them to DLA Piper so that we can continue to support and serve clients together across all regions of this vast continent.’ he added.

In the last few months, DLA has been active in office openings and closures. The firm closed its Berlin office in March as its sole partner there moved to launch DWF’s offering in the German capital. Earlier in March and later in April, DLA also closed its Tbilisi and Canberra offices. In Georgia, all fee earners, including two partners, departed for Dentons.

Also in March, DLA announced it would integrate widely regarded Portuguese firm ABBC into its global network, with 50 lawyers in the firm’s Lisbon headquarters.

DLA has seen global turnover drop to $2.47bn for 2016 as overall profits improved by 6%. Revenue fell 3% from last year’s $2.54bn, while net profit was up to $643.4m from $605.4m the previous year. The fall in turnover came as the firm cut back on its total headcount, reducing the number of lawyers by more than 140 from 3,756 to 3,615, a fall of 4%.

georgiana.tudor@legalease.co.uk

Read more: ‘DLA Piper resolute as it shuts down three minor offices in a month’

Legal Business

DLA in the driver’s seat as Italy’s Atlantia bids to create world’s largest operator of toll roads

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Corporate DLA Piper

DLA Piper and Gianni, Origoni, Grippo, Cappelli & Partners have picked up mandates as Italy’s Atlantia launched a bid of €16.3bn cash-and-share offer for its Spanish rival Abertis, in an effort to create the world’s biggest operator of toll roads.

Atlantia offered €16.5 per Abertis share, as its stock price has risen 8% since rumours of a merger started in April.

DLA and Gianni advised Atlantia as Spanish and international legal advisers, led by DLA corporate partner Iñigo Gomez-Jordana, who has acted for Atlantia since 2007. Gianni’s team on the deal was led by partner Francesco Gianni.

Abertis does not have a legal adviser at the time of writing, as the friendly takeover bid is still being debated with Abertis’ shareholders.

Credit Suisse and Mediobanca are acting as financial advisers to Atlantia, while BNP Paribas, Credit Suisse, Intesa Sanpaolo and UniCredit are acting as debt advisers and Goldman Sachs has provided Atlantia with extra opinion on the fairness of the consideration from a financial point of view.

The merger would help tackle the key weakness of both Atlantia and of Abertis, which is concentration of assets in their respective markets, and would help diversify Abertis’ portfolio. Atlantia makes 75% of its profits in Italy.

In the past, Ashurst has advised Abertis on a €495m investment by a wholly-owned subsidiary of the Abu Dhabi Investment Authority in Abertis’ Chilean toll road business, as well as Abertis’ €948m acquisition of the 50% interest in Chile’s Autopista Central toll road that Abertis.

georgiana.tudor@legalease.co.uk

Legal Business

‘Some firms do it very well’: Top City outfits embrace flexible working

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DLA PiperNorton Rose FulbrightSlaughter and May

The City’s leading firms have formally embraced flexible working, with the percentage of fee-earners working part-time at the top ten of the Legal Business 100 ranging between 2% and 10%.

Our quality of life survey, published this month, found all of the UK’s top ten law firms have policies around flexible working. Many of the partners interviewed said their firms also allowed teams to develop their own strategy of flexible working, with partners asked to use their own discretion as to whether members of their team needed time off.

The survey found DLA Piper has 10% of its UK fee-earners working part-time, followed closely by Hogan Lovells, which has 9% of its fee-earners working less than full-time hours. One fifth and 16% respectively of these firms’ business support staff also have similar arrangements.

In the Magic Circle, respondents surveyed generally had lower statistics for part-time workers. Freshfields Bruckhaus Deringer has the largest reported amount of part-time fee-earners in the group, with 6% on such arrangements. Sixteen percent of the firm’s business services staff also work part-time, while the firm has also taken on a flexible and informal agile working policy.

Linklaters and Allen & Overy (A&O) both have 4% of their fee-earning staff on part-time working arrangements, while just 2% of Slaughter and May’s lawyers work part-time. Clifford Chance did not disclose the proportion of its fee-earners or staff with part-time working arrangements.

Slaughters, however, has the largest percentage of business support staff working part-time at 25%. Linklaters has 23%, while A&O has 19%.

Meanwhile, Norton Rose Fulbright said 17% of its total staff work part-time. Both Herbert Smith Freehills and CMS Cameron McKenna Nabarro Olswang did not disclose figures.

Millnet managing director and former director of general counsel services at RPC Consulting, Julia Chain (pictured), said: ‘A lot of law firms now are looking with sympathy at flexible working and working from home. If I am really honest, there are some firms who do it very well. But a lot of law firms have yet to really embrace this fully, allowing people to work flexibly or trusting them to work from home more. It’s a model that will become increasingly important.’

madeleine.farman@legalease.co.uk

For more on agile working, read our Quality of Life report, released this month (£)