Senior management discuss closures in non-essential markets
Simon Levine, DLA Piper’s global co-chief executive, has said that the firm’s recent office closures in Berlin, Tbilisi and Canberra are a result of ‘nothing more than a mature business reviewing strategically where it needs to be from time to time’.
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DLA Piper announced today (2 May) that it has promoted 46 to its partnership across the US, EMEA and Asia Pacific, while Holman Fenwick Willan (HFW) made up three to partner in its latest round.
The new partners join DLA in 28 offices, across 13 countries. The firm promoted two fewer globally than it did last year, however it only made up four in London, compared to eight promoted in 2016.
In London, the firm promoted Chris Chan in real estate, Patrick Mitchell in intellectual property and technology, Edward Shaw in litigation and regulator and Richard Skipper in finance and projects.
In the UK, DLA promoted nine, 20% of the overall round, less than the 29% it promoted last year. The firm also made up 17 to partner in the US followed by 12 across continental Europe, four in the United Arab Emirates, two in China and a further two in Australia.
Across the firm’s practice groups globally, corporate saw the largest intake of new partners with 10 promotions, followed by litigation and regulatory with nine, finance and projects with seven and employment with five. Intellectual property and technology, real estate and tax each had four promotions, while there were only two in restructuring and one in government affairs.
The DLA promotions are effective as of 1 January 2017 in the United States and 1 May 2017 for EMEA and Asia-Pacific.
Meanwhile, HFW has elevated its compliance officer for legal practice Gavin Hadfield who is based in London. Before joining HFW in 2014, Hadfield was a risk lawyer at Freshfields Bruckhaus Deringer. London commercial and commodities lawyer Andrew Williams and Brussels based aviation lawyer Stéphanie Golinvaux have also been made up to partner in the latest promotion round. HFW also promoted four to legal director with one in Hong Kong and three in London taking up the position. The promotions went through on April 1.
georgiana.tudor@legalease.co.uk
DLA City partner promotions in full:
Chris Chan, real estate, London
Patrick Mitchell, intellectual property & technology, London
Edward Shaw, litigation & regulatory, London
Richard Skipper, finance & projects, London
HFW promotions in full:
Stéphanie Golinvaux, Brussels, aviation
Gavin Hadfield, London, risk and compliance
Andrew Williams, London, commercial
DLA Piper and Ince & Co have made team hires in Germany this week, while Shearman & Sterling and Fox Williams have boosted their City offerings.
DLA Piper has brought on three corporate partners to its Frankfurt office from US firm K&L Gates. Mathias Schulze Steinen, Andreas Fuechsel and Claudius Paul will take up their posts next week bringing client relationships with The Carlyle Group, Oakley Capital Private Equity, Mood Media and Verivox.
Schulze Steinen advises local and international companies in corporate law, above all in restructuring measures, the law relating to stock corporations and corporate finance, and Fuechsel focusses on the fields of private equity/M&A, company law relating to capital markets, complex restructuring measures and the structuring of joint ventures. Paul specialises in private equity and M&A as well as in German corporate law, particularly in the technology, life sciences and financial services sectors.
Meanwhile, Ince & Co has acquired Hamburg law firm Schwenke & Partner which will join its German office on 1 May. Senior partner of the Hamburg firm Thomas Schwenke brings with him one associate, two paralegals and three business services staff. He specialises in corporate and finance in the shipping, offshore and renewable energy sectors. Schwenke trained and worked for specialist corporate and finance law firms in London and Hamburg as trainee, associate and partner before establishing Schwenke & Partner in 2000.
Shearman & Sterling has reappointed antitrust lawyer Christopher Bright in London, who was appointed by the government as a member of the UK Competition Commission in a part-time quasi-judicial decision-making role in 2006. Bright has stayed on at Shearman as a consultant following his appointment after he established the firm’s City antitrust practice. His appointment marks the first semblance of a lateral hire since the arrival of M&A partner Frank Miller from Freshfields Bruckhaus Deringer and Jeremy Sharpe in international arbitration from the US Department of State, both announced in September 2015.
Finally, Fox Williams has taken on Cooley regulatory partner Chris Finney who will join the firm’s London office next week. Finney is focused on UK and European regulatory issues. His clients include national and international (re)insurers, payment services providers, private equity venture capital fund managers, brokers and fintech companies of all kinds. Finney joined Cooley in 2015 – the year the US firm opened its doors in London – from Edwards Wildman Palmer (EWP). The vast majority of the firm’s London office made the move to Cooley’s City office ahead of EWP’s merger with Locke Lorde.
madeleine.farman@legalease.co.uk
DLA Piper has closed its Canberra office, marking the firm’s third office closure in a month following its exit from Tbilisi and Berlin.
DLA’s two partners in Canberra, Caroline Atkins and Anthony Willis are both leaving to join local firm Maddocks and the rest of the 17-person office will leave with them.
Canberra is a focus for government work in Australia. However, the firm retains its four other key commercial offices in Australia: Brisbane, Melbourne, Perth and Sydney. The latest closure is not part of any any formal or informal strategic review of the firm’s business.
In a statement, Jim Holding and Melinda Upton, co-managing partners of DLA Piper Australia said: ‘We remain absolutely committed to all our government clients and will continue to provide them with the same level of service from our four Australian offices outside Canberra, as well as through the considerable government contracting expertise of our global sector team. We thank our team in Canberra, and wish them all the best.’
Last month DLA shut down its Georgia operations with all fee earners, including two partners, departing for Dentons. The retreat was the second office closure for DLA in March after the firm confirmed it was to close its Berlin office after its sole partner moved, alongside an of counsel, to launch DWF’s offering in the German capital.
Financial services partner Nina Siedler and real estate lawyer Irene Schmid will join DWF’s office alongside Wolfgang Richter, who joined DWF Germany following the firm’s 2016 merger with German commercial law firm BridgehouseLaw. He will head the new Berlin office as an executive partner alongside five other lawyers.
According to DLA’s most recent LLPs, the firm’s international operating costs increased by £10.6m to £502.7m, which the firm said was ‘largely attributable to inflationary salaries and key investments into delivering effective and efficient client service’.
The accounts also showed that total staff numbers at the firm have reduced, from 4,926 in 2015 to 4,916 in 2016. Despite this, the overall number of fee-earners has increased, from 2,036 to 2,044.
kathyrn.mccann@legalease.co.uk
DLA Piper is to combine with Danish law firm LETT by the end of May this year, becoming the largest firm in the Nordic region with five offices and more than 370 lawyers.
LETT, which has offices in Copenhagan and Aarhus, is a full-service firm which is ranked tier one in dispute resolution, environment, insurance and telecoms in the Legal 500 and has a particular focus on corporate M&A, insolvency and restructuring, pensions and insurance, real estate and the Danish public sector. The firm has around 150 lawyers.
Simon Levine DLA’s co-chief executive (pictured) said: ‘Together, the Nordic countries rank as a G20 economic entity and the region is home to some major international corporates. Many of our existing clients do business in the Nordics and by extending our presence in Denmark, we will now be able to offer them an unparalleled capability in the region and access to legal services which can meet their needs domestically, regionally and globally.’
In June last year DLA confirmed a merger with Swedish law firm Grönberg Advokatbyrå, adding 21 lawyers and seven support staff. DLA signalled the merger would strengthen the firm’s offering in its key sectors: financial services, technology, energy, real estate and infrastructure and construction.
And in February 2016 the firm agreed a combination with 30-lawyer Finnish law firm Peltonen LMR. Peltonen has strong local practices in banking, corporate, dispute resolution and IP. The firm counts Finland’s export credit agency Finnvera, the City of Helsinki and Nordea Bank as clients.
Despite its Nordic expansion, just last week DLA closed two offices in Berlin and Georgia. The firm’s sole partner in Berlin moved, alongside an of counsel to launch DWF’s offering in the German capital. Meanwhile, DLA has also shut down its Georgia operations with all fee earners, including two partners, departing for Dentons.
A DLA spokesperson said: ‘The firm has had a successful presence in Tbilisi since merging with a local Georgian law firm in 2005. However, we have since concluded that our respective interests and strategies can be better delivered separately in future.’
kathryn.mccann@legalease.co.uk
Freshfields Bruckhaus Deringer and DLA Piper have announced high-profile Brexit hires as British Prime Minister Theresa May triggered article 50 today (29 March).
Freshfields has appointed Jonathan Hill, the UK’s former European commissioner for financial stability, financial services and capital markets union as a senior adviser, while DLA has appointed Paul Hardy, former EU legal adviser to the House of Lords, who will join the firm in April as a legal director and lead Brexit specialist.
Hill, who was previously the UK’s most senior diplomat in Brussels, resigned after Britain’s vote to leave the European Union on 23 June last year. He also previously served as leader of the House of Lords and Chancellor of the Duchy of Lancaster from 2013 to 2014.
Freshfields senior partner Ed Braham said: ‘Jonathan brings outstanding experience and skill from a diverse and extensive career that is valuable both to our clients and to our firm.
‘We have shown significant strength as a firm with regards to Brexit related issues, and Jonathan’s contributions, while respecting his obligations, can only enhance our reputation and our efforts.’
Meanwhile, DLA has appointed Hardy in a move which the firm said ‘reflects DLA Piper’s commitment to supporting its clients on Brexit-related matters, helping them to navigate the increasing complexity of the UK’s withdrawal from the EU.’
In a statement, Richard Bonnar, chair of DLA’s Brexit committee added: ‘Brexit is a reality that many of our clients, as well as we ourselves, are having to contend with, so there’s no doubt that it merits investment as part of our long-term strategy. Paul is a leading EU lawyer with first-hand experience of working both in Brussels and Westminster. His hire very much reinforces our commitment to helping our clients prepare for Brexit and to protect their interests on a national and global basis.’
Hardy was called to the bar by the Inner Temple in 1992 and has over 20 years’ experience as a lawyer. He was a legal adviser in the European Commission from 2004 to 2008 and was appointed Counsel for European Legislation in 2009 in the House of Commons and EU Legal Adviser to the House of Lords in 2014.
kathryn.mccann@legalease.co.uk
Read more: ‘Not a smooth process’: The legal profession opines on the Brexit negotiations to come
In its second office closure in a week, DLA Piper will shut down its Georgia operations with all fee earners, including two partners, departing for Dentons.
The global firm is set to open an office in Tblisi, with Dentons taking on a team of 11 lawyers including partners Otar Kipshidze and Avto Svanidze, who will join on 1 May.
The team specialises in litigation, corporate, banking and finance, intellectual property, energy, infrastructure and government work. Dentons has had a presence in Eastern Europe since 1991, when the firm opened an office in Russia, and now has offices in Turkey, Ukraine, Kazakhstan, Azerbaijan and Uzbekistan across eastern Europe, the Caucuses and central asia.
The retreat is the second office closure for DLA this month after the firm confirmed it was to close its Berlin office after its sole partner moved, alongside an of counsel, to launch DWF’s offering in the German capital.
The launch in Georgia comes as Dentons’ European arm plans to open up in Amsterdam next month, merging with Dutch law firm Boekel. The European business has expanded into a number of new jurisdictions in the last two years, including Luxembourg and Italy through mergers and office launches.
Dentons European chief executive Tomasz Dabrowski said: ‘Our market-leading position in CEE-CIS is one of the jewels in Dentons’ crown. Our strategy for this region is simple: to be a top firm in all the markets where we are present.’
In September last year Dentons’ European arm made a capital call to raise an additional €6m to €7m in a move which Dabrowski called ‘good financial prudence’. European partners, excluding the UK which operates as a separate legal entity, have been asked to contribute up to €100,000 extra over a two-year period.
A DLA spokesperson said: ‘The firm has had a successful presence in Tbilisi since merging with a local Georgian law firm in 2005. However, we have since concluded that our respective interests and strategies can be better delivered separately in future’
They added: ‘We are confident that we can continue to support our global clients who operate there in an efficient manner and wish the team every success for the future.’
matthew.field@legalease.co.uk
Read more: ‘The pitch – A new kind of global law firm emerges but can Dentons live up to the hype?’
DLA Piper is to close its Berlin office as its sole partner moves, alongside an of counsel, to launch DWF‘s offering in the German capital.
Financial services partner Nina Siedler and real estate lawyer Irene Schmid will join DWF’s office alongside Wolfgang Richter, who joined DWF Germany following the firm’s 2016 merger with German commercial law firm BridgehouseLaw. He will head the new Berlin office as an executive partner alongside five other lawyers.
In a statement DWF said a Berlin office will strengthen the firm’s financial services, real estate and corporate/M&A service lines and enhance the firm’s existing capability in Germany where it already has offices in Cologne and Munich.
Andrew Leaitherland (pictured) managing partner and chief executive of DWF added: ‘Opening in Berlin presents a strategic opportunity in its own right, offering significant opportunities in the financial services and real estate markets, along with being a key piece of our wider international growth plans. Building our German presence, combined with our recent opening in Paris, allows us to really bed in our European offering and continuing extending our international links into key geographic markets globally, including the Middle East and Africa.’
A DLA Piper spokesperson said: ‘The firm’s German practice continues to strengthen and grow, however, it has become clear that there is no longer the client demand, and therefore the need, for us to have an office in Berlin. As a full service business law firm, we operate seamlessly across jurisdictions and borders and we will continue to service our clients from our four other German offices’
Just last week, Gowling WLG launched a second German outpost in Stuttgart, in addition to the firm’s existing office in Munich.
While Gowlings’ existing office in Munich focuses on IP and IT, the new office will focus on corporate law including capital markets.
kathryn.mccann@legalease.co.uk
DLA Piper 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%.
Profit per equity partner saw a further boost of 6%, an increase from the previous year’s $1.57m to $1.66m. Revenue per lawyer edged up 1% to $683,000 for 2016 from $677,000 in 2015.
The drop in overall turnover was attributed by the firm to exchange rate fluctuations across the global firm’s international business, which is divided between an international LLP and a US LLP. In sterling, DLA said turnover was up 3%.
The firm’s international expansion has seen the opening of new offices in South Africa and a new launch in Puerto Rico.
In the City, DLA added a major real estate team as part of the administration of King & Wood Mallesons’ European arm. The firm hired real estate partner William Naunton as well as six other partners.
The dip in turnover comes as international mid-market rival Baker McKenzie posted an 8% revenue boost to $2.62bn for the firm’s year ending June 2016.
matthew.field@legalease.co.uk
For the details on DLA’s finance practice, see ‘The Finance View – repositioning DLA’s finance team for the firm’s global ambitions’
DLA Piper has announced it is integrating Portuguese firm ABBC into its global network, a move effective from today (7 March). Widely regarded as Portugal’s leading aviation law firm, ABBC has 50 lawyers in its Lisbon headquarters.
Full service firm ABBC has been a DLA relationship firm since 2010 and will now adopt the DLA Piper brand. ABBC’s affiliated Angolan firm ADCA, will remain a part of the DLA Piper Africa Group.
The incorporation of ABBC adds to DLA’s strong international network, with lawyers located in more than 40 countries spanning Asia, Africa, Europe, Latin America, the Middle East and North America.
DLA co-global chief executive Simon Levine (pictured) commented: ‘With the close economic integration of Spain and Portugal, the Iberian legal market has been increasingly seen by our clients as a single market.
‘We have worked closely with ABBC for many years now and it is a natural evolution for us to join forces.’
Managing partner of DLA in Portugal, Nuno Azevedo Neves, added: ‘Our relationship with DLA Piper has developed progressively over the past few years and our people and clients have benefited from access to the resources and capabilities of a global firm. Therefore, we are delighted to have the opportunity to complete the integration and to become part of DLA Piper.’
In February 2016, ABBC advised Santander Totta in its €150m acquisition of the Portuguese bank Banif – Banco Internacional do Funchal. The deal saw Santander become Portugal’s second-largest private bank with a 14.5% market share in loans and deposits.
The decision to integrate with ABBC follows DLA Piper’s merger with Swedish firm Grönberg Advokatbyrå in June 2016. As part of the deal, Grönberg Advokatbyrå’s 21 lawyers and seven support staff joined DLA’s Stockholm office in October 2016.
Earlier in 2016, DLA severed its ties with Venezuelan firm InterJuris after a five-year partnership, reducing its presence in Latin America to Mexico, Brazil and Colombia.
tom.baker@legalease.co.uk
