Legal Business

Revolving doors: Baker McKenzie and Fieldfisher hire in Europe, while Kirkland opens in Boston

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Strategic recruitment Baker McKenzieFieldfisherKirkland & Ellis

 

Despite a slightly less active week for lateral hires in the UK, firms continue to grow their European footprint. Baker McKenzie and Fieldfisher added to their Paris and Dusseldorf bases respectively, as national firm Weightmans hired in Manchester and Kirkland & Ellis opened a new office in Boston.

Adding to its 170-strong Paris office, Baker McKenzie has hired Matthieu Grollemund from Dechert to head its corporate practice there. Davin has been tasked with continuing the development of the private equity and capital markets practices.

Baker McKenzie’s Paris managing partner Arnaud Cabanes said: ‘We are very happy to welcome Matthieu Grollemund and his team to the Paris office which now has 26 partners. His arrival is part of the strategy adopted by our office and our Firm to reinforce our corporate practice in Paris as well as in the world’s principal financial centres.’

Fieldfisher has expanded its Dusseldorf intellectual property (IP) base, hiring partner Benjamin Grzimek from IP specialist firm EIP where he was the head of the Dusseldorf office. A patent litigation expert, Grzimek specialises in enforcement campaigns and cross border work in the US and UK, in particular in the telecoms and consumer electronics sectors.

 Fieldfisher’s Germany managing partner Philipp Plog said: ‘Ben is a superb addition to our IP offering in Germany and we warmly welcome him to the firm. His cross-border expertise will further bolster our strong international offering.  Our German offices have had a strong year and we are looking at continuing to invest in key lateral hires.’

In the US, Kirkland & Ellis announced this week they are opening an office in Boston. This would be Kirkland’s thirteenth office worldwide, and its eighth US base. Kirkland partners Armand Della Monica, Neal Reenan and Ian Bushner will relocate to Boston to join in launching the office.

Kirkland’s chairman of the global management committee Jeffrey Hammes said: ‘Kirkland has strong ties to the Boston community, and we have been fortunate to develop longstanding client relationships in the city. Our new office is a natural evolution for our firm that will help us to provide even better service to Boston-based clients as we continue to grow, and we are very excited to be here.’

Elsewhere, national firm Weightmans has hired Richard Bate as a partner in Manchester to head up its wills, tax, trusts and probate team. Bate was head of private client at Brabners in Manchester, specialising in estate planning, focusing on wills, trust creation and administration, power of attorney and probate work.

Georgiana.Tudor@legalbusiness.co.uk

Legal Business

‘Exciting new addition’: Kirkland raids Freshfields yet again for restructuring partner Lacey

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Strategic recruitment Kirkland & Ellis

Kirkland & Ellis has returned to Freshfields Bruckhaus Deringer to hire financial restructuring partner Sean Lacey.

Lacey was made up to partner at Freshfields six years ago and was co-leader of the firm’s alternative capital team within its global financial institutions group. He has advised clients such as Carlyle, Wind Hellas, BNP Paribas, ING, Natixis, UniCredit and Carphone Warehouse Group.

Chairman of Kirkland’s management executive committee, Jeffrey Hammes, said: ‘Sean has earned a reputation as one of the leading restructuring and finance lawyers in the London market. His extensive experience advising clients on complex transactions across a range of credit products will further enhance our European restructuring offering. He is an exciting new addition to our market-leading, global restructuring practice.’

In December it emerged Kirkland had taken on real estate finance partner Jonathan Birks from Freshfields, joining former colleague Michael Steele who joined Kirkland from the Magic Circle firm in 2015.

Kirkland also hired corporate partner Doug Bacon in October from Freshfields’ New York office. Bacon’s client list includes Novartis, Honeywell International, Blackstone, KKR, TPG, Apax Partners, MSD Capital and First Reserve Corp.

Going the other way, Kirkland lost capital markets partner Andrew Hagan to Freshfields, which is steadily building its debt markets team, in February 2016. The hire followed the recruit of high-yield heavyweight Ward McKimm who left Kirkland to co-head Freshfields European leveraged finance team in London in June 2015.

Last month Legal Business revealed six finance partners would leave Freshfields at the end of the financial year while it implements a restructure of its finance practice. Two others – one in New York and another in London – gave up equity partner status in April but it is understood they will remain with the firm in other roles. Finance has about 34 partners in London and more than 70 globally.

In addition, two partner exits from the London practice are expected for April 2018. Another finance partner in Asia, who has already left the firm, was also affected by the recalibration.

madeleine.farman@legalease.co.uk

Legal Business

Revenues soar at Kirkland as London restructuring partner exits for KKR spin-off

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Strategic recruitment Kirkland & Ellis

Kirkland & Ellis has recorded a significant upsurge in its revenue and profit per equity partner (PEP) in 2016, as a partner in the firm’s London restructuring team has departed for KKR spin-off Pillarstone.

Revenue figures have shot up by 15% for Kirkland in the 2016 financial year, rising to $2.65bn. The turnover growth is an improvement on last year when global revenue was up 7%. Furthermore, PEP has risen 14% to $4.1m, a pronounced increase on last year’s figure of $3.6m.

The strong financial results cement Kirkland’s position as one of the world’s largest firms, second only to Latham & Watkins in terms of gross revenue.

Meanwhile, London restructuring partner Mark Knight has left Kirkland to become general counsel (GC) and partner at Pillarstone, a company established by US private equity giant KKR Credit.

Set up in 2015, Pillarstone is a London-based investment platform focused on improving struggling European bank assets. Knight had previously been on secondment at the company, and has now made his stay permanent.

Knight began his career as a trainee at DLA Piper in 2006 before moving to Kirkland in 2008 as an associate in its European restructuring team. After being promoted to partner in 2014, Knight advised KKR as it organised a £194m lending process to refinance the facilities of Spanish pizza chain, TelePizza.

The departure of Knight follows the news in February this year that Sidley Austin secured a seven-partner team from Kirkland’s Munich office. Veteran partner Volker Kullmann joined with fellow corporate partners Björn Holland, Christian Zuleger, Nicole Schlatter and Marcus Klie, as well as finance partner Markus Feil and tax partner Roderic Pagel.

As a result, Kirkland’s Munich office was left with five corporate partners and an overall headcount of 14 partners.

tom.baker@legalease.co.uk

Read more on US firms in London in: ‘Swoop to conquer – a turbulent year for US firms in London but no retreat‘

 

 

Legal Business

Davis Polk and Kirkland latest to pare back Hong Kong practices as US firm exits continue

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Hong Kong Davis Polk & WardwellKirkland & Ellis

Firms retreat as funds raised through IPOs in the region fall 26%

Davis Polk & Wardwell and Kirkland & Ellis are the latest US firms to lose corporate partners from their Hong Kong offices as public listings in the region decline.

Legal Business

Deal watch: Corporate activity in April 2017

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Corporate Herbert Smith FreehillsKirkland & Ellis

HSF AND BLP ADVISE ON £1.1BN CHEESEGRATER SALE

Herbert Smith Freehills (HSF), Berwin Leighton Paisner (BLP) and Mayer Brown led as the owners of London’s tallest tower, known as the Cheesegrater, agreed to its sale for £1.1bn. HSF and Mayer Brown advised joint owners British Land and Oxford Properties Group, while BLP assisted buyer CC Land Holdings.

 

Legal Business

Dechert returns to Kirkland for second finance hire in six months

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Strategic recruitment DechertKirkland & Ellis

Dechert is to appoint Kirkland & Ellis banking and finance partner Rob Bradshaw, returning to the Chicago-bred firm’s London office for recruitment for the second time in the last six months.

Part of its City push, Dechert also hired Kirkland partner John Markland last November. Markland had been with Kirkland for 12 years and founded the firm’s European debt finance team, advising clients such as Palamon Capital Partners, Mid Europa and Bain Capital.

Bradshaw was made partner at Kirkland in 2015, and was previously an associate at Allen & Overy. His practice focuses on cross-border financing transactions, including leveraged and acquisition financing, refinancing and restructurings. He advises both borrowers and creditors.

Bradshaw’s key mandates at Kirkland included representing Bain Capital in connection with the financing of the acquisition by Autodis of Doyen Auto, and TPG Growth on the acquisition of Frank Recruitment Group in April 2016.

Dechert has been significantly improving its finance practice in the City in recent months, with the hire of DLA Piper partners Philip Butler and David Miles. Miles was DLA’s head of debt finance in London while Butler was head of finance and projects, and global co-chair in the firm’s financial services sector.

Alongside Markland, Dechert also hired White & Case’s private equity partner Ross Allardice last November.

As well as losing high-yield heavyweight Ward McKimm to Freshfields Bruckhaus Deringer in 2015, Kirkland also lost a seven-partner team to Sidley Austin in Munich last month, after having already lost a six-partner deal team from its London office to Sidley one year before.

Conversely, Kirkland took star finance partner Michael Steele in 2015 and real estate finance partner Jonathan Birks in late 2016, both from Freshfields.

Earlier this month, Kirkland also hired Munich-based corporate partner Volkmar Bruckner from Weil, Gotshal & Manges, to replenish the German practice.

Dechert and Kirkland declined to comment.

georgiana.tudor@legalease.co.uk

 

Legal Business

Kirkland takes Weil PE partner to replenish battered Munich offering

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Strategic recruitment Kirkland & EllisWeil, Gotshal & Manges

Kirkland & Ellis has hired Munich-based corporate partner Volkmar Bruckner from Weil, Gotshal & Manges following its loss of a seven-partner team in the city.

Bruckner focuses on private equity representing German and international clients in complex cross-border buyouts, carve-outs and other M&A transactions. Key clients include Siemens, Bain Capital, VM Capital, Canadian Solar and Q-Cells. Prior to joining Weil in 2015, Buckner was at Latham & Watkins for over eight years.

Kirkland took on Weil Gotshal’s banking head Stephen Lucas in 2014. Lucas left the firm just three years after he joined in June 2011 from Linklaters, where he was a banking partner, prior to which he was a partner at Magic Circle rival Clifford Chance.

In February, Kirkland lost a seven partner team in its Munich office with veteran partner Volker Kullmann moving to Sidley Austin along with fellow corporate partners Björn Holland, Christian Zuleger, Nicole Schlatter and Marcus Klie, as well as finance partner Markus Feil and tax partner Roderic Pagel.

The move mirrors Sidley’s hire at the same time last year when the firm landed a six-partner deal team from Kirkland’s London office.

Kirkland has made a number of recent high-profile hires, bringing in a string of partners from Linklaters. Corporate partners David Holdsworth and Stuart Boyd joined Kirkland last year, reuniting them with Linklaters’ former real estate M&A head Matthew Elliott, corporate partner Roger Johnson and ex- head of competition and antitrust Paula Riedel all of whom were announced as moving in 2015.

The US heavyweight also took on two from Freshfields Bruckhaus Deringer last year, hiring City finance partner Jonathan Birks and New York based corporate partner Doug Bacon.

Kirkland declined to comment.

madeleine.farman@legalease.co.uk

Legal Business

Kirkland and Cravath pick up Misys mandate for C$4.8bn Canadian merger

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Corporate Cravath, Swaine & MooreKirkland & Ellis

Having backed out of its proposed London float late last year, UK headquartered software company Misys has merged with Canadian fintech DH Corp through its private equity backers with Kirkland & Ellis and Cravath, Swaine & Moore winning lead roles on the deal.

Kirkland advised Vista Equity Partners along with Canadian firm Goodman on its acquisition of DH Corp for C$4.8bn.

Canadian outfit Stikeman & Elliott provided M&A defence work for DH Corp along with US elite outfit Cravath.

The combined company will have around 10,000 employees and revenues of approximately $2.2bn.

Kirkland’s team was led by US corporate partners Stuart Casillas, Joshua Zachariah, Chris Harding, Adi Herman, Abtin Jalali and Daniel Wolf as well as London based partners Gavin Gordon, Carl Bradshaw. Debt financing advice was provided by US partner Sonali Jindal and capital markets work from Joshua Korff and David Curtiss.

Cravath’s team was led by US corporate partners David Perkins and Erik Tavzel as well as Stephen Kessing, who advised on banking matters.

Stikeman’s team was led by M&A partners Martin Langois and Mike Devereux after the firm was picked by DH Corp to advise ahead of a potential deal.

The Canadian deal comes after Misys toyed with an initial public offering (IPO) on the London Stock Exchange last year, taking advice from Freshfields Bruckhaus Deringer. Having shelved plans for the listing, Misys has recently been reported to be considering a US listing after a slow year for UK IPOs last year.

Kirkland also won a mandate on the potential initial public offering, with Gordon acting as the main relationship partner with PE house Vista Equity Partners. Linklaters lead for the banks on the potential IPO, which saw Misys seeking a £5.5bn valuation, before they abandoned the float in October.

matthew.field@legalease.co.uk

Read more: ‘Freshfields and Linklaters lead on largest post-Brexit IPO‘

Legal Business

Sidley returns to Kirkland for seven-partner Munich launch as US giant sustains European assault

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Strategic recruitment Kirkland & EllisSidley Austin

Observers of Kirkland & Ellis’ patented burn ‘n’ churn approach to talent management are used to a little partnership movement, but even by the US leader’s standards, news today (15 February) that Sidley Austin has secured a seven-partner haul in Munich will catch attention.

The move sees Sidley return to Kirkland in dramatic fashion after last February hiring a six-partner deal team from Kirkland’s London office, a rare instance of the Chicago-bred institution losing an equity partner to a rival.

Veteran partner Volker Kullmann, joins with fellow corporate partners Björn Holland, Christian Zuleger, Nicole Schlatter and Marcus Klie, as well as finance partner Markus Feil and tax partner Roderic Pagel.

Kullmann joined Kirkland from Clifford Chance (CC) in 2004. With a focus on private equity and corporate, his clients include Ardian, Bridgepoint, Gilde Buy Out Partners, Intermediate Capital Group and Teva Pharmaceutical Industries.

The transferring Kirkland team will be joined by Linklaters Frankfurt-based restructuring partner Kolja von Bismarck. Also ex-CC, von Bismarck joined Linklaters in 2009. The new recruits join Jan Schinköth, who arrived from DLA Piper at the beginning of the month and was also previously a partner at Kirkland.

Kirkland’s Munich office is left with five corporate partners and an overall headcount of 14 partners.

Sidley had re-launched in Germany in March last year after the recruitment of the six-partner team led by Erik Dahl in London. The London and Munich-based Dahl was brought in to establish and lead the firm’s German office. Sidley secured the corporate work of key Kirkland client TowerBrook Capital Partners with the relationship managed by Dahl and fellow corporate partner Christian Iwasko.

Sidley had previously shut its Frankfurt office in 2014 following a spate of partner exits that put the office under a review in 2013 but the firm has obviously upgraded its ambitions for Europe.

While Kirkland confirmed the departures, Sidley European head George Petrow said: ‘The addition of these outstanding partners to our Munich office is another key step forward on Sidley’s road toward first-tier global leadership in acting for private capital. Contrary to growing scepticism in some quarters about the future of globalised markets, we remain convinced that the ability to offer cross-border legal services will continue to offer outstanding growth opportunities to the firms capable of exploiting them, and nowhere more so than in private equity, restructuring and M&A.’

madeleine.farman@legalease.co.uk

For more on the revolving door between Sidley and Kirkland, see ‘Kiss the ring – patronage, in-fighting and exits threaten to stall Kirkland’s bandwagon’ (£)

Legal Business

Revolving doors: Addleshaws loses another litigator as Kirkland, Hogan Lovells and Bryan Cave make new hires

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Strategic recruitment Bryan Cave Leighton PaisnerHogan LovellsKirkland & Ellis

The steady pace of lateral hires continues in the beginning of 2017, with Kirkland & Ellis, TLT, Hogan Lovells, K&L Gates and Bryan Cave making appointments around the globe.

Addleshaw Goddard has lost another litigator this year as K&L Gates has taken on Clarissa Coleman, who joins from Addleshaw Goddard. Coleman is the second litigator to exit the LB100 firm’s disputes practice this year, following the resignation of Kambiz Larizadeh who is moving to Akin Gump Strauss Hauer & Feld.

Hogan Lovells has also solidified its global practice with the hire of Marc Elvinger as a partner for the firm’s Luxembourg office. Elvinger, previously of Arendt & Medernach, has 15 years’ experience in corporate matters, M&A and transactional business law.

Elvinger, who will link up with current Luxembourg partners Gerard Neiens and Pierre Reuter, said: ‘Hogan Lovells represents a formidable opportunity for me. Corporate law is a global business and I am delighted to join a firm with global reach and genuine international capability.’

Judith Allen, formerly of A&L Goodbody, will bolster TLT’s Belfast office after her appointment on 18 January. An expert of Northern Irish property law, Allen joins as a real estate partner. TLT’s real estate group acts for a variety of clients, including BBC, EDF, WHSmith and Pets at Home.

TLT head of real estate Maria Connolly said: ‘Over the last 12 months we have seen significant growth in our real estate practice on a national scale. Having Judith on board will only further cement our expertise within this sector.’

Bryan Cave has expanded its London-based US private client team with the appointment of David Adler, who joins as a partner from McDermott Will & Emery. Adler, a specialist in advising international entities, individuals and intermediaries on US-related planning, said: ‘Bryan Cave’s private client team in London, with its impressive reputation and its focus on helping those with US interests, is a perfect fit for me. I have also been attracted by the collaborative and friendly culture at the firm.’

Kirkland & Ellis has strengthened its Shanghai office after taking Paula Liu from Clifford Chance (CC) to join as a partner. Liu, who joins from CC’s Shanghai office, specialises in M&A transactions with a particular focus on private equity.

David Zhang, senior partner of Kirkland’s Asia corporate practice group, said: ‘Paula has built a reputation as one of the leading young corporate and private equity lawyers in Shanghai.

‘She is a talented lawyer and an important addition to our Shanghai office as we look to further strengthen the firm’s China corporate practice.’

tom.baker@legalease.co.uk