Legal Business

Revolving doors: Pinsent Masons makes board appointments as BLP and Mayer Brown make City hires

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Strategic recruitment Bryan Cave Leighton PaisnerMayer BrownPinsent Masons
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In a busy week for City hires, Pinsent Masons, BLP and Mayer Brown have made key appointments, as DWF, Irwin Mitchell and Burness Paull all added to their benches around the regions.

The Royal Bank of Canada’s former head of London Pauline Egan will join Pinsent Masons as a non-executive board member, the firm’s first external board appointment. The firm has also appointed while Alastair Mitchell as its first chief operating officer. With over 30 years of experience, Mitchell joins from Holman Fenwick Willan, where he was chief operating officer for over three years.

Pinsents senior partner Richard Foley said the firm has made significant progress towards achieving its vision of being an international leader in its market sectors, but there’s more to do. He added: ‘There is significant evidence that organisations which have an external viewpoint to test and challenge at board level outperform those that do not, and I welcome Pauline in that capacity. She has impressive commercial credentials and international experience which make her a strong addition to our moard. Alastair is also a highly impressive individual whose focus will be on the efficient and effective running of our business operations on an international scale.’

After leaving the firm for Hausfeld, Edward Coulson has rejoined BLP‘s corporate litigation team as a partner. Coulson advises on complex competition litigation and regularly conducts multi-party litigation, with a focus on cartel damages actions and other competition and regulatory disputes, including in relation to procurement matters and sector regulation.

Mayer Brown has introduced two Dentons partners to its London banking and finance practice. The firm has added fund finance partner Liz Soutter, who provides debt financing solutions to investment funds across a range of sectors, including private equity and financial institutions. Project finance partner Tom Eldridge also joins the firm, and is focused on the mining and metals, energy and infrastructure sectors.

As it continues with its expansion strategy, DWF will add three to its partnership as it merges with niche insurance firm Fox Hartley. Partners Trevor Fox, Michael Hitchings and Peter Barnes are to join DWF in Bristol along with 13 other staff. With close links to French, German, Japanese and Swedish insurance markets, the move will bring sector expertise to DWF’s 900-strong insurance team.

National law firm Irwin Mitchell has appointed Paddy Sturman to its banking and finance team as it continues to build its business legal services division. Joining the firm from Gordons in Leeds where he led the banking team, Sturman specialises in advising institutional lenders and corporate clients on all aspects of banking and finance including corporate acquisitions, real estate investment and development and asset based lending.

Burness Paull has strengthened its tax team with the hire of former DWF tax expert Ronnie Brown,who joins the firm’s Glasgow office. Brown has expertise in a wide spectrum of corporate tax and property tax.

madeleine.farman@legalease.co.uk

Legal Business

Mayer Brown PEP breaks $1.5m barrier on the back of solid revenue growth

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Profits per equity partner at US firm Mayer Brown broke the $1.5m barrier for the first time in 2015 as revenue rose 3% to $1.26bn.

A strong performance from the firm in a year when many others have struggled to achieve meaningful growth after a slowdown in the finance markets, Mayer Brown’s PEP rose 8% to $1.56m last year while also adding to its partner ranks.

The number of equity partners rose 2% to 286 in 2015, with those partners taking home on average an extra $50,000. It is the first time that Mayer Brown’s PEP has broken the $1.5m barrier, up 8% on the $1.45m achieved last year. Profits have been on an upward trajectory at the firm, with PEP rising 32% over the past five years.

Revenue growth has been harder to achieve, with the firm’s return to form last year as it posted a 7% increase to reach $1.22bn, not sustained in 2015. Mayer Brown grew by 3% last year on the back of strong performances in its cornerstone litigation business, as well as its transactional group, to achieve $1.26bn. This is up around $40m on what it generated in 2014.

Revenue per lawyer at Mayer Brown rose 1% to $835,000 as each of the firm’s 1,507 lawyers generated an extra $11,000.

Mayer Brown, which was the 13th biggest law firm in the world a decade ago, has been surpassed by a number of rivals in the last 10 years as rivals either secured greater growth or pulled off high profile mergers. After a run of solid, but unremarkable results, Mayer Brown ranked as the world’s 24th largest law firm in 2014.

As US firms continue to report financials, yesterday Shearman & Sterling reported a 2% increase in revenue to $860m, off the back of strong M&A activity, while PEP at the firm dropped by more than $60,000, to $1.84m. Meanwhile Gibson, Dunn & Crutcher put in another strong performance, notching its 20th straight year of revenue growth in 2015, with revenue up by 5% to $1.54bn and PEP up 5% to $3.19m.

tom.moore@legalease.co.uk

Legal Business

Revolving doors: Linklaters, Hogan Lovells, Mayer Brown reach into lateral hire market

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In a busy week for Global 100 firms, Hogan Lovells, Mayer Brown, and Linklaters have all added to their partner ranks across a diverse range of practice areas.

Hogan Lovells has made two laterals as it strengthens its executive compensation and share incentives capability. Paul Randall joins the firm as its new co-head of the executive compensation and share incentives team. He was previously at Ashurst where he was head of employee benefits and incentives. Hogan Lovells has also hired Allen & Overy’s Stefan Martin, who has joined as partner.

The firm’s head of London employment, Elizabeth Slattery, said: ‘Stefan and Paul are well-respected in the London market and very experienced. Their arrival significantly bolsters our employment and executive compensation and share incentives offering and they will be a tremendous asset to our UK and global teams.’

Meanwhile US firm Mayer Brown has again added a City finance partner in Kieron Dwyer from Gowling WLG, where he was partner and head of international energy and natural resources and established the energy and infrastructure finance practice at legacy firm Wragge & Co.

Co-head of the global finance practice at Mayer Brown, Dominic Griffiths, said: ‘We are seeing an increasing appetite from our clients for structured finance expertise in the energy market and Kieron’s in-depth experience in this sector and project finance in Europe, Africa and the Middle East will further boost our global offering.’

Finally, Linklaters has hired white-collar crime and civil litigator Adam Lurie as a partner in its US dispute resolution practice. Joining from Cadwalader, Wickersham & Taft, he will head Linklaters’ Washington litigation and government investigations practice.

The head of Linklaters’ global US practice Scott Bowie said Lurie’s hire was one of a series of moves.

‘As US law in the context of increasingly complex regulatory regimes is progressively shaping and governing cross-border transactions and disputes, building a strong and global US platform is integral to our strategy. Adam’s hire is a key development in progressing Linklaters’ global ambitions to strengthen further our government risk, FCPA and civil litigation offering.’

Elsewhere, Travers Smith has confirmed the appointment of partner Edward Smith, who joins the firm’s restructuring and insolvency practice. Smith joins arrives from K&L Gates, where he was a partner in the firm’s bankruptcy/insolvency practice group.

The firm’s head of finance, Matt Ayre, commented: ‘Edward is a hugely experienced restructuring lawyer, who will add further depth to our existing capabilities. His arrival demonstrates our commitment to providing clients with first-class specialist restructuring expertise and will strengthen our position in the marketplace.’

madeleine.farman@legalease.co.uk

Legal Business

Revolving doors: Multiple hires for Mayer Brown, as Pinsents, Cooley and Jones Day make appointments

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Strategic recruitment Mayer Brown
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US firm Mayer Brown has made a number of lateral hires this week as Pinsent Masons, Cooley and Jones Day also made notable appointments.

In a move to boost its global energy group, Mayer Brown has appointed Morgan Lewis’s former energy transactions partner Mathew Kidwell. With over 20 years of experience in the petroleum sector, Kidwell will bring his expertise to Mayer Brown’s London office.

Mayer Brown global energy group co-leader Thomas Moore said: ‘His upstream oil and gas focus adds another substantial component to our full service energy practice in London. His addition to our already strong London capabilities will help us grow our energy and oil and gas offering to be one of the pre-eminent practices in the London market.’

The firm has also hired private equity partners Julian Lemor and Birgit Hübscher-Alt to its Frankfurt base, to join the firm in spring from King & Wood Mallesons. Partner-in-charge of the firm’s German offices Guido Zeppenfeld said the hires bring strategic advantage to Mayer Brown. ‘Adding Julian and Birgit to our team continues our expansion of Mayer Brown’s transactional capabilities in Germany, particularly in the private equity arena. The new partners further strengthen our private equity competence on a European and global level.’

Still in the Rhineland, Pinsent Masons has announced a fourth partner has been posted to its new Dusseldorf outpost which the firm announced it would open last month. Torsten Bergau joins Pinsents from Hoffman Liebs Fritsch & Partner, bringing his expertise in corporate law, M&A and capital markets. He will join Thorsten Volz, Sönke Gödeke and Torsten Wielsch who joined from KPMG’s German legal team to open the office.

Pinsents’ Germany head Rainer Kreifels said Bergau’s appointment is part of the planned expansion of the new office. ‘He is a skilled lawyer of great pedigree and, together with the other founding partners in Dusseldorf, will help us to meet the needs of our clients particularly in the energy sector.’

In a move to strengthen its skill set in the Asia-Pacific, Jones Day has hired Roger Dobson and Katie Higgins, partners from Sydney firm Henry Davis York. The firm’s partner-in-charge of Australia and Japan Chris Ahern said the hires reflect the firm’s commitment to building an elite cross-practice capability throughout Australia. ‘Both have strong reputations in restructuring and insolvency, an area of increasing importance in the Asia-Pacific. Roger and Katie will strengthen our skills in this area in the Asia-Pacific, a region that will be adversely impacted by slower China growth and lower commodity prices in the near term.’

Cooley has also announced the hire of Latham & Watkins partner Patrick Gibb to boost the firm’s security litigation group. Gibb will be joining Cooley’s Palo Alto office. Cooley head of global litigation Michael Attanasio described Gibb as one of the finest securities litigators in the country. ‘He will further strengthen our market-leading securities litigation group and offer our clients another trial lawyer who excels in the courtroom and in the boardroom,’ he added.

madeleine.farman@legalease.co.uk

Legal Business

Trainee retention: Perfect scores for Osborne Clarke and Mayer Brown as White & Case figure falls

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Osborne Clarke and Mayer Brown have posted perfect spring retention figures this year, while White & Case’s rate dropped to 87%.

Osborne Clarke has retained an impressive 100% of its spring qualifiers, a bump on the 67% it kept on last autumn. The firm had retained 89% in the spring of 2015, keeping on eight of nine qualifiers.

This spring the firm has kept all seven trainees which will qualify to positions in the firm’s three UK offices in London, Thames Valley and Bristol. Osborne Clarke training principal, partner Catherine Wolfenden put the firm’s retention rate success down to the level of guidance given to those coming through to the firm.

Wolfenden said: ‘Trainees are given real responsibilities and independence from day one with regular partner support.’

Similarly, Mayer Brown has also posted its spring qualifiers list. The firm kept on four out of four trainees. The intake is better than what it posted in September last year, when six of 11 trainees took places, for a rate of 55%.

White & Case, which retained 100% of its London trainees who qualified in autumn 2015, has announced it retained 87% of its London trainees, with 13 out of 15 taking on positions. With a successful track record, the firm says it’s important to ensure qualifiers know they have a future with the firm.

Earlier this year Slaughter and May and Nabarro improved their trainee retention figures with the latter firm retaining 89%, while the Magic Circle firm posted a 95% retention rate.

Other firms to post retention rates this spring include Herbert Smith Freehills which kept on 94%, while Weil, Gotshal & Manges scored 100% and Trowers & Hamlins retained 88% of trainees.

madeleine.farman@legalease.co.uk

Our sister website The Lex 100 has created a retention rate table which will be updated as more figures are announced.

Legal Business

Private equity play: Mayer Brown makes major move with the hire of Reed Smith’s Europe head Yam

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Strategic recruitment Mayer Brown
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US firm Mayer Brown has hired Reed Smith’s Europe and Middle East head of private equity Perry Yam (pictured) to lead growth in the City private equity market.

Yam joined Reed Smith about three years ago from the renowned private equity group at what was SJ Berwin, where had worked for 20 years. He will join Mayer Brown as London head of private equity.

Well known in the City private equity market, Yam counts Vitruvian Partners, ECI Partners, HIG Private Equity and Nova Capital Management as clients. He has been tasked with building up Mayer Brown’s City private equity practice and linking it with the Paris and US offices.

In January Yam acted for Vitruvian on its purchase of a stake in fast-growing flights search engine Skyscanner, which valued the company at $1.6bn, and San Francisco-based FTV Capital on its purchase of a stake in Newcastle-based technology company True Potential, which provides online services to financial advisors and wealth managers.

Yam resigned from Reed Smith in January and will join Mayer Brown on 15 February.

While Mayer Brown has flat lined in London recently, with the number of lawyers in the City falling 26% between 2009 and 2014 to 250, the firm maintains a strong private equity practice in the US and is now looking to replicate that in London. Clients in the US include The Jordan Company, which focuses on mid-tier leveraged buyouts. Mayer Brown also hired Reed Smith private equity partner Jeffrey Legault in 2014 to boost its New York office.

Mayer Brown London senior partner Sean Connolly said the firm was pleased to welcome Yam at a time when private equity was playing an increasingly important role in M&A.

He added: ‘His experience and market knowledge will be immensely advantageous to us and will complement our growing pan-European and global private equity practice.’

The exit comes as a blow to Reed Smith, which announced last month that it would axe 45 lawyers from its US, Europe and Middle Eastern offices in a move it labelled ‘necessary adjustments to remain competitive’.

tom.moore@legalease.co.uk

Read more about the London private equity market in the feature: ‘ABC – the brutally simple world of a private equity lawyer.’

Legal Business

Fried Frank hires Mayer Brown’s restructuring head to launch City workouts practice

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Strategic recruitment Fried, Frank, Harris, Shriver & JacobsonMayer Brown
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Having launched a trio of practice areas – finance, private equity and funds – in London in just over a year, Fried, Frank, Harris, Shriver & Jacobson has kick-started 2016 with the launch of a restructuring practice, appointing Mayer Brown‘s co-head of restructuring, bankruptcy and insolvency Ashley Katz.

The hire comes as part of the firm’s wider strategy to ‘build out the core practice areas in Europe and support client needs by providing a strong bankruptcy and restructuring capability’, said Fried Frank chairman David Greenwald.

Katz leaves Mayer Brown after eight years having joined in 2008 from Allen & Overy where he was a senior associate. At Mayer Brown, Katz specialised in restructuring, insolvency related matters and distressed investing, and advised banks, borrowers, bondholders, insolvency practitioners, pension trustees and hedge funds. In recent years he advised both ATP Oil & Gas and Nordic Mines on their restructurings, and he acted on the Budapest Airport’s €1.35bn refinancing in 2014.

Fried Frank bankruptcy and restructuring practice Brad Eric Scheler said: ‘[Katz] will be fully integrated into our existing bankruptcy and restructuring team, working with us to deliver valuable counsel to clients who need initial deal structuring advice and assistance with transactions that involve distressed issues. Our current team is excited to collaborate with him as we act for funds and other creditors, as well as clients on the debtor side, on transatlantic assignments.’

The restructuring launch in London follows Fried Frank’s expansion of its asset management practice in Europe last year, which saw the addition of four partners in London – Kirkland’s high-profile funds trio Mark Mifsud, Kate Downey and Alexandra Conroy all resigned in May 2015, while O’Melveny & Myers private equity partner Daniel Oates joined early last year. Former King & Wood Mallesons financial markets partner Gregg Beechey and ex-Hogan Lovells finance partner Stuart Brinkworth also joined the firm in September.

jaishree.kalia@legalease.co.uk

 

 

 

Legal Business

Revolving doors: Reed Smith ups energy offering as Mayer Brown JSM and Ince & Co make Hong Kong hires

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Reed Smith, which last week cut 45 jobs across its US, Europe and Middle Eastern offices, has bolstered its energy offering in the United Arab Emirates and China by appointing partners from Pinsent Masons and Norton Rose Fulbright.

Project finance partner Simon Harvey joins from Pinsents’ Dubai office. Harvey advises on a range of project and infrastructure matters relating to power, gas minerals and resources. Reed Smith Middle East managing partner Vince Gordon said: ‘Simon’s hire continues to build upon our finance and projects practice and create further opportunities to support clients requiring support across our global platform.’

Meanwhile in Beijing the firm has hired Norton Rose Fulbright corporate partner Jie Zhang. Zhang, who focuses on energy and natural resources, has built his practice on inbound foreign investment work and Chinese outbound investments. Reed Smith has continued to expand its energy and natural resources practice by adding 26 partners across the globe in the past three years. The practice now has 120 lawyers.

Still in Asia, Ince & Co has hired CEC North Star Energy executive director of legal affairs Balbir Bindra as partner in its Hong Kong office. Banking and finance lawyer Bindra has broad experience in the energy, asset-based finance and investment sectors. According to the firm, the appointment is part of Ince’s agreed strategy to enhance its transactional capability in its core sectors of shipping, aviation, energy, insurance and international trade.

Also in Hong Kong, Mayer Brown JSM has added corporate partner Nicholas Chan to its ranks. Chan joins from Sidley Austin and has experience acting issuers and advisers on listings on the Hong Kong Stock Exchange. Corporate and securities partner Jacqueline Chiu said: ‘Nicholas’ knowledge of Hong Kong’s IPO market and other corporate finance products is expected to enhance our recent association with Jingtian & Gongcheng, a leading Chinese firm in connection with capital markets practice transactions for issuers from mainland China.’

In Europe, Paul Hastings has hired leveraged finance partner Olivier Vermeulen to head the Paris outpost’s finance department. Vermeulen joins with a team of three other lawyers from King & Wood Mallesons and he has broad experience in leveraged finance, funds financing, structured finance and general lending and securitisation. Paul Hastings Paris chair Olivier Deren said the firm was growing throughout Europe, particularly in leveraged finance and Vermeulen would be an asset. ‘He has developed innovative solutions to assist clients in a rapidly changing market, across a wide range of finance areas, and complements our existing reputation in private equity.’

In London Norton Rose has made its third lateral tax hire in Europe since January 2015 with the appointment of Matthew Findley from Pinsents. Findley advises transactional and annuity clients in relation to the implementation and operation of share plans and employee incentive arrangements both in the UK and internationally. The firm’s head of tax for Europe Dominic Stuttaford said: ‘Matthew’s experience is highly aligned with our strategic vision and will enhance our offering to clients.’

TLT has also made a City hire, going in-house to appoint Daniel Lloyd who was head of consumer law at telco BT. Lloyd has experience in the procurement of technology and other services and is an expert in the law on digital content. He arrives as the firm continues to invest in its TMT practice. TLT managing partner David Pester said: ‘Daniel’s arrival is the latest of a series of notable partner hires into our 100-strong London practice, including Jake McQuitty from Barclays Bank. London plays an important role in the development of our wider UK practice, being a centre of excellence for a number of specialist services as part of our sector strategy.’

victoria.young@legalease.co.uk

Legal Business

International hires: Hogan Lovells brings in key Hong Kong arbitration lateral as Mayer Brown expands German practice

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Hogan Lovells and Mayer Brown have announced significant international recruitment today (9 December). Hogan Lovells has improved its disputes practice with the hire of Baker & McKenzie’s Hong Kong head of international arbitration James Kwan, while Mayer Brown has hired a three-lawyer team from Clifford Chance (CC) in Frankfurt to expand its M&A and restructuring practice.

Kwan is a high-profile arbitration practitioner whose work spans a wide range of industries including energy, infrastructure, life sciences, and technology.

Timothy Hill, head of the projects (engineering and construction) group of Hogan Lovells in Asia said: ‘With investment and trade rising in Asia as a result of globalisation, international arbitration is an increasingly important issue for companies doing business in the region.

‘James’ extensive practice across a wide range of industries will be a tremendous asset to our international arbitration team in Hong Kong and Asia, which counts some of the world’s largest companies in many sectors as its clients.’

The move follows Hogan Lovells’ hire of New York arbitration partner Samaa Haridi from Weil, Gotshal & Mange in June.

Meanwhile, Mayer Brown has hired CC partner André Schwanna, who departs the firm after seven years. With him, Schwanna brings senior associate Benjamin Büttner who joins Mayer Brown as partner, and counsel Alexander Täumer.

The team advises financial institutions and industrial companies in Germany and abroad on M&A transactions and corporate reorganisations, restructurings and crisis management, as well as tax structuring and other corporate matters.

Global corporate & securities practice co-leader Marc Sperber said the arrivals build on momentum after the firm hired Cleary Gottlieb Steen & Hamilton partner Klaus Riehmer earlier this year to head the firm’s Frankfurt and Düsseldorf corporate and securities practices.

victoria.young@legalease.co.uk

Legal Business

Partner Promotions: Mayer Brown makes up two in London from 27-strong round

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Mayer Brown has become the latest US firm to announce its promotion round, with City lawyers making up just 7% of the total round worldwide. The firm made up two London partners, up from one last year.

The London partners made up are Connor Cahalane and Andrew Crotty. Cahalane is a corporate and securities partner who has particular experience in mergers and acquisitions and public takeovers, while Crotty is a banking and finance partner who focuses primarily on the leveraged finance market.

The round saw 27 lawyers in total make it up the ranks to partnership, in what the firm said was the biggest intake that the firm has seen since 2012.

The Americas saw the most partners being made up with 78% or 21 being promoted across its Washington DC, New York, Chicago, Houston, Rio de Janeiro and Charlotte offices.

Only 15% of the global round were promoted in Europe, with the two in London as well as one each in Brussels and Paris. 

Partners were made up in a mix of practice areas with seven in disputes; six in banking and finance; four in corporate and securities; and two each in intellectual property, real estate, tax transactions and consulting, tax controversy; and one each in government and global trade, and financial services regulatory and enforcement.

Last year, the firm made up 21 partners, of which only one partner made it to the partnership from all its European offices.

The promotions will take effect 1 January 2016.

jaishree.kalia@legalease.co.uk

The new partners are:

Bill Amos, Litigation & Dispute Resolution, Hong Kong

Bruno Belchior, Corporate & Securities, Tauil & Chequer, Rio de Janeiro

Kiel Bowen, Banking & Finance, Charlotte

Connor Cahalane, Corporate & Securities, London

Venna Cheng, Litigation & Dispute Resolution, Hong Kong

John Cise, Tax Controversy, Chicago

Andrew Crotty, Banking & Finance, London

Steven Garden, Tax Transactions & Consulting, Chicago

Joseph Hable, Corporate & Securities, Chicago

Laura Hammargren, Litigation & Dispute Resolution, Chicago

Charles-Albert Helleputte, Tax Transactions & Consulting, Brussels

Timothy Hicks, Banking & Finance, Charlotte

Paul Hughes, Litigation & Dispute Resolution, Washington DC

Jonathan Hunt, Tax Controversy, Chicago

Michael Kimberly, Litigation & Dispute Resolution, Washington DC

Jason Kirschner, Litigation & Dispute Resolution, New York

Nadav Klugman, Banking & Finance, Chicago

Kfir levy, Intellectual Property, Washington DC

Justin McCarty, Litigation & Dispute Resolution, Chicago

Richard McCormick, Intellectual Property, New York

Joseph Pennell, Corporate & Securities, Chicago

Alexandra Plain, Real Estate, Paris

Andres Romay, Real Estate, Houston

Terry Schiff, Banking & Finance, New York

Donald Waack, Financial Services Regulatory & Enforcement, Washington DC

Stephanie Wagner, Government & Global Trade, Chicago

Adam Wolk, Banking & Finance, New York