Legal Business

Exits mount for King & Wood as Mishcon snaps up veteran IP partner

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Strategic recruitment Mishcon de Reya
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The list of partner departures from King & Wood Mallesons’ City office is getting longer each week with Mishcon de Reya the latest beneficiary after picking up IP veteran Ray Black.

Following two partner departures in London last week, with financial markets partner Gregg Beechey quitting to join Fried, Frank, Harris, Shriver & Jacobson and private equity partner Simon Fulbrook resigning to join Goodwin Procter, KWM is struggling to stop the run of partner exits following its merger with SJ Berwin in October 2013.

Black leaves KWM after more than 24 years at KWM and its legacy firm SJ Berwin, having established its City IP practice in 1991. He led the team until 2009 and spearheaded expansion into Italy and Germany during his time at the helm.

As a well-known figure in City IP spheres, Black specialises in the protection, exploitation and enforcement of IP, having represented luxury brands Ralph Lauren, Marc Jacobs and DKNY; television shopping company QVC; and computer games giant Nintendo. He trained and qualified at Slaughter and May before joining Baker & McKenzie’s Hong Kong office in 1977. He made partner in 1982 and established the US firm’s IP practice in South East Asia.

Jeremy Hertzog, head of Mishcon’s intellectual property department, said: ‘Ray’s extensive and varied background in IP law complements our existing practice. He has worked across a broad range of sectors on significant cases for high-profile clients and is consequently incredibly well connected both here and internationally. He will be an asset to the team and we very much look forward to working with him.’

tom.moore@legalease.co.uk

Legal Business

Mishcon sees double digit revenue growth as UK turnover hits £110m

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Financial results 2014/15 Mishcon de Reya
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City firm Mishcon de Reya has enjoyed another year of robust UK revenue growth and recorded a rise of 13% to £110m from £97.8m, meeting its 2016 target a year ahead of schedule.

The firm said its profit per equity partner figure was expected to be ‘in excess of £950,000’, potentially resulting in a dip of nearly 3% from last year’s £975,000 though it would still be above its targeted ‘sustainable’ £750,000.

Over five years, the firm has seen a total revenue increase of over 130%, something which it attributes to heavy investment during the down-turn and building a distinct brand as an adviser bridging high-end private client work with an entrepreneur heavy corporate client base.

Mishcon is now in the process of revising its strategy, and looking to include a longer term 10-year vision that will continue to focus on private client and litigation work, and pursue further internationalisation. It recently drafted in external consultant duo, Alan Hodgart and Robbie Cowan, to help shape the plan.

Part of ensuring the firm’s continued progression was making notable lateral hires this year which included Enyo Law partner Annabel Thomas this month, corporate partner Michael Nouril who joined from Proskauer Rose, employment partner Sharon Tan from US firm McDermott Will & Emery in April, and insurance partner Richard Leedham from Addleshaw Goddard in January.

Also on the firm’s agenda is retaining extra office space ahead of its move to Africa House in Holborn this summer, and management are considering housing some of the firm’s operational staff at its current premises at Summit House or elsewhere with a view to developing training hubs.

Commenting on the results, managing partner Kevin Gold (pictured) said: ‘It is testament to the dedication of every single person who works at Mishcon de Reya that we are once again able to look back at a phenomenal year. That we have already met the targets we set out in our latest three-year plan illustrates the value of focusing our efforts into these key areas, and we will continue this strategy as we look ahead to our new 10-year vision.’

‘The coming financial year will see some significant changes, such as our forthcoming conversion to LLP status and our imminent move to Africa House. We will work together to navigate these changes successfully, maintaining our unique culture and building upon our recent successes.’

sarah.downey@legalease.co.uk

Legal Business

Mishcon picks consultancy duo to lead strategy review as firm examines pay structure

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Salaries Mishcon de Reya
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City firm Mishcon de Reya has appointed external consultant duo, Alan Hodgart and Robbie Cowan, to help shape its 10-year strategy plan. With the review already well underway, proposals tabled include its merit-based pay structure with an emphasis on altering the way it rewards origination points.

Having interviewed for the roles back in spring, the firm has brought in Hodgart as lead consultant, who previously served as managing director at Huron Consulting Group before launching his own consultancy in 2013. Also involved is strategist Cowan who has been a longstanding adviser to the firm for 20 years and currently works for Mishcon’s independent private client advisory business Mayfair Private.

In assessing the structure of its remuneration system, the aim is to see how the firm can more effectively reward lawyers on all levels for good behaviour and potentially incentivise team playing.

Also on the firm’s agenda is retaining extra office space ahead of its move to Africa House in Holborn this summer, and management are considering housing some of the firm’s operational staff at its current premises at Summit House or elsewhere with a view to developing training hubs.

Speaking to Legal Business, managing partner Kevin Gold (pictured) said: ‘As a business we view operations as very important functions. For instance human resources isn’t just about payroll, it’s about coaching, tutoring and mentoring. All operational functions will be converted into a centre of excellence so they will provide services to the firm and effectively act as training hubs.’

The firm is two years into its current three-year strategy, which involved investing heavily through the down-turn and building a distinct brand as an adviser bridging high-end private client work with an entrepreneur heavy corporate client base.

Now it is looking to build out its strategy to include a long-term 10-year vision, broken down into three-year plans with annual budgets. Gold previously told Legal Business the firm will continue to focus on private client and litigation work, and on the issue of internationalisation which is delegated to partners Adam Rose and Kasra Nouroozi.

sarah.downey@legalease.co.uk

Legal Business

Mishcon de Reya hires Enyo Law partner in ongoing disputes push

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Strategic recruitment Enyo LawMishcon de Reya
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After having left Addleshaw Goddard in 2010 to join high-end disputes boutique Enyo Law, partner Annabel Thomas (pictured) is returning to a full service LB100 firm and joining Mishcon de Reya’s disputes practice.

Thomas was part of the 11-strong team that departed Addleshaws in 2010, alongside founders Simon Twigden, Pietro Marino and Michael Green, at Enyo Law‘s launch. She specialises in commercial disputes, in particular civil fraud, and has worked on cross-border litigation, arbitration and mediation.

The Herbert Smith-trained lawyer’s major case work has included the high profile court battle between Russian oligarchs Boris Berezovsky and Roman Abramovich, a $6.5bn English contract law case. She has further acted in a London arbitration concerning a shareholders dispute in a Kazakhstan law firm, as well as acting for a company in relation to an ex parte worldwide freezing order, including successfully applying for the order to be discharged and for indemnity costs.

Commenting on the appointment, Kathryn Garbett, head of Mishcon de Reya’s fraud defence team, said: ‘Annabel is an experienced litigator with a strong background in civil fraud, competition law, partnership disputes and financial regulatory litigation.

‘Her experience – and her connections to the industry both in London and abroad – complements our growing Fraud Defence practice and we’re very much looking forward to welcoming her to the team.’

Her move to Mishcon is indicative of the firm’s strategy to boost its disputes offering. Last summer the firm recruited heavyweight former director of public prosecutions (DPP) Sir Keir Starmer QC as a part-time consultant in its business crime unit. Qualified as both barrister and solicitor, Starmer joined his former colleague Alison Levitt QC, the principal legal adviser to the DPP, who moved to Mishcon in April 2014 to head its business crime group.

Earlier this year, the firm’s managing partner Kevin Gold revealed to Legal Business the firm had kick-started its strategy review and would continue its focus on private client and litigation work as part of that.

Just weeks ago, the firm also made an effort to broaden its M&A and private equity capability with the hire of corporate partner Michael Nouril from Proskauer Rose.

tom.moore@legalease.co.uk, sarah.downey@legalease.co.uk

Legal Business

Building the team: Mishcon de Reya hires Proskauer corporate partner

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Strategic recruitment Mishcon de ReyaProskauer Rose
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In an effort to broaden its M&A and private equity capability, City firm Mishcon de Reya has today (16 April) announced the hire of corporate partner Michael Nouril from Proskauer Rose.

Nouril joined Proskauer in 2011 from Jones Day where he had served as partner-in-charge of the London office and head of the European private equity practice.

He specialises in multi-jurisdictional deals and other transactions including joint ventures, public bids, real estate asset-based deals, and seller auction processes. Nouril’s client roster includes private equity and hedge funds, quoted and non-quoted companies, management teams, entrepreneurs and family offices.

Previous private equity recruits by Mishcon includes partners Simon Sale and Nadim Meer from Dundas & Wilson in 2013.

The hire follows the firm kick-starting the process for its firmwide strategy and interviewing external consultants to help shape its vision. Revealed by Legal Business in March, managing partner Kevin Gold said the firm will maintain its focus on private client and litigation work, as well as the issue of internationalisation, of which the latter task is being delegated to partners Adam Rose and Kasra Nouroozi.

Commenting on the hire of Nouril, Mishcon’s corporate head Nick Davis commented: ‘[Nouril’s] practice is a mixture of mainstream M&A and private equity acting for mid-market private equity houses, fund managers, corporates and high net worth individuals, which fits in well with our strategy and strengths, particularly around private capital and ventures. His experience is exceptional and we look forward to welcoming him to the team.’

sarah.downey@legalease.co.uk

Legal Business

Q&A: Mishcon de Reya’s Kevin Gold talks peers, New York and international strategy

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Leadership Mishcon de Reya
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High-flying City firm Mishcon de Reya recently kicked off a review of its strategy, aiming to create a ten-year vision. Managing partner Kevin Gold, last month named Management Partner of the Year at the Legal Business Awards, talks to Sarah Downey about the firm’s future as a limited liability partnership, its Manhattan struggles and his leadership style.

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Legal Business

Partner promotions: Mishcon de Reya announces all-female partner round as firm appoints new chair

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Partnership promotions Mishcon de Reya
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Mishcon de Reya has today (30 March) announced a three-strong all-female partner promotions round for this year, as well as appointing real estate partner Philip Freedman QC to succeed current chair John Jackson.

The female trio includes litigator and sports lawyer Liz Ellen, commercial trial lawyer Victoria Pigott, and real estate litigator Emma Macintyre.

Mishcon de Reya managing partner Kevin Gold (pictured) said: ‘As we continue to develop our business we welcome these talented and hard-working individuals to our senior team and value their on-going contribution to the firm.’

The firm’s appointment of heavyweight real estate lawyer Freedman will take effect in April. He succeeds Jackson who became the firm’s non-solicitor chair in 1992 and the first non-solicitor to chair a London law firm. Jackson will now serve as chairman emeritus.

Both the promotions and chair appointment come during a period of structural change at the City firm, and this month Legal Business revealed it has kick-started the process for its firmwide strategy review and is currently interviewing external consultants to help shape its vision. This will involve maintaining its focus on private client and litigation work, as well as the issue of internationalisation, of which the latter task has been delegated to partners Adam Rose and Kasra Nouroozi.

It is further set to move to an all-equity partnership this autumn and convert to a limited liability partnership, following a vote made in early 2014. It further acquired an alternative business structure licence in February from the Solicitors Regulation Authority, a move that was prompted by bringing up to four key employees into the partnership.

sarah.downey@legalease.co.uk

Legal Business

OC, Mishcon, DLA Piper and CC major winners at 2015 Legal Business Awards

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Clifford ChanceMishcon de ReyaOsborne Clarke
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Osborne Clarke (OC), Mishcon de Reya and Clifford Chance (CC) were among the major winners at the 2015 Legal Business Awards, with DLA Piper global co-chair Sir Nigel Knowles handed a special one-off award for industry-defining achievement marking the 25th anniversary of Legal Business.

OC took the coveted Law Firm of the Year award thanks to a period of dramatic growth and assured strategic expansion, while Mishcon managing partner Kevin Gold was named Management Partner of the Year for his central role in supporting the emergence of Mishcon as one of the most distinctive and imaginative players in the UK market.

Knowles was cited for outstanding individual achievement for his central role in taking DLA Piper from its roots in the English regions to become one of the world’s largest law firms in a special award honouring the figure judged to have most defined the UK profession since Legal Business launched in 1990.

CC was a major winner in the practice awards, named as Finance Team of the Year for its work on the UK Treasury’s ground-breaking RMB3bn bond issue and also Restructuring Team of the Year for advising on the innovative workout of APCOA Group. Macfarlanes, meanwhile, secured the coveted Corporate Team of the Year award for its role on Verizon’s $130bn acquisition of Vodafone’s stake in Verizon Wireless.

Other major awards saw Vodafone general counsel Rosemary Martin named Lawyer of the Year, while the Royal Mail was named In-House Team of the Year. Ropes & Gray was the US Law Firm of the Year, with Brodies named as National/Regional Firm of the Year.

The awards were presented to more than 1,000 guests in a gala ceremony last night (24 March) hosted by distinguished broadcaster and journalist Jeremy Paxman. The event was preceded by a reception to mark the launch of this year’s GC Power List report.

This year saw the introduction of an external judging panel of distinguished industry figures. The panel comprised the following senior general counsel: Michael Shaw (Barclays); Andrew Whittaker (Lloyds Banking Group); Robert Ivens (Marks & Spencer); Adrian de Souza (Land Securities); Siobhan Moriarty (Diageo); Michael Herlihy (Smiths Group); Kirsty Cooper (Aviva); Claire Chapman (Daily Mail and General Trust) and Alison Kay (National Grid). The panel was completed by Jomati founder Tony Williams and Paul Gilbert of LBC Wise Counsel, as well as Alex Novarese and Mark McAteer from Legal Business.

Our April edition will include a full report on the night.

For more details click here. See #LBAwards2015 on twitter.

 

Legal Business Awards 2015 – The Winners

Simmons & Simmons – TMT Team of the Year

 

Clifford Chance – Restructuring Team of the Year

 

Cleary Gottlieb Steen & Hamilton – Competition Team of the Year

 

Hogan Lovells – Energy and Infrastructure Team of the Year

 

Weil, Gotshal & Manges – Dispute Resolution Team of the Year

 

Clifford Chance – Finance Team of the Year

 

Mills & Reeve – Private Client Team of the Year

 

DAC Beachcroft – Insurance Team of the Year

 

Macfarlanes – Corporate Team of the Year

 

Travers Smith – Private Equity Team of the Year

 

Wragge Lawrence Graham & Co – Real Estate Team of the Year

 

Wiggin – Boutique of the Year

 

Rosemary Martin, Vodafone – Lawyer of the Year

 

Reed Smith – CSR Programme of the Year

 

Garrigues – International Firm of the Year

 

Kumar Tewari, Lloyds Banking Group – Rising Star In-House Counsel of the Year

 

Royal Mail – In-House Team of the Year

 

Kevin Gold, Mishcon de Reya – Management Partner of the Year

 

Ropes & Gray – US Law Firm of the Year

 

DWF – Legal Innovator of the Year

 

Wragge Lawrence Graham & Co – Legal Technology Team of the Year

 

Brodies – National/Regional Firm of the Year

 

Sir Nigel Knowles – Outstanding Individual Achievement Award: 25 Years

 

Osborne Clarke – Law Firm of the Year

 

alex.novarese@legalease.co.uk

Legal Business

‘We have to find our own place’: Mishcon de Reya kicks off strategy review as it looks for 10-year plan

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Leadership Mishcon de Reya
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After surpassing revenue targets two years early last summer, high-flying City firm Mishcon de Reya has kick-started the process for its firmwide strategy review and is currently interviewing external consultants to help shape its vision.

The firm is two years into its current three-year strategy, which involved investing heavily through the down-turn and building a distinct brand as an adviser bridging high-end private client work with an entrepreneur heavy corporate client base. It’s clearly paid off so far, as the firm has enjoyed strong growth and in the summer hit its target of £100m in revenues by 2016, with 2013/14 turnover up 18% to £104.6m and profit per equity partner up by 16% to £975,000.

Speaking to Legal Business, managing partner Kevin Gold (pictured) said the firm’s upcoming ambitions take a more long-term view: ‘We’ve given ourselves one year … we’ll do it slightly differently, we’ll be looking at a more long term vision than a three-year plan, say a ten-year vision broken down into three-year plans with annual budgets.’

Gold said the plan will include maintaining its focus on private client and litigation work, as well as the issue of internationalisation, of which the latter task is being delegated to partners Adam Rose and Kasra Nouroozi.

Gold added: ‘As you get bigger, and we’re now one of the bigger London offices rather than an international firm, things take longer to shift. It’s much easier when you’re a £10m business to be robust and nifty but £100m plus takes longer. Three years comes very quickly. Historically a three year plan has been driven by factors or criteria such as revenue or profit per equity partner. A longer term vision is “where do I see myself in ten years’ time? What kind of firm do I want to be?” Given the stresses with consolidation or internationalisation and us being these maverick independents…we have to find our own place.’

Other major structural changes include the firm’s pending move to an all-equity partnership this autumn and conversion to a limited liability partnership, following a vote made in early 2014. It further became the latest firm to acquire an alternative business structure licence last month from the Solicitors Regulation Authority, a move that was prompted by bringing up to four key employees into the partnership, including chief operating officer Bambos Georgiou, business development director Elliot Moss and head of human resources Vanessa Dewhurst.

sarah.downey@legalease.co.uk

Legal Business

Mishcon gains ABS licence to include non-lawyers in partnership

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ABS Mishcon de Reya
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Mishcon de Reya has become the latest firm to acquire an alternative business structure (ABS) licence from the Solicitors Regulation Authority (SRA), a move that was prompted by bringing up to four key employees into the partnership.

Having applied for the licence last July, the firm was granted approval on 12 February and will become an ABS structure on 10 April.