Legal Business

Law Society pays £1m recruitment bill as Norton Rose receives £435k

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Legal regulation Norton Rose Fulbright
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The Law Society paid out approaching £1m in recruitment fees over ten months in 2013, as Norton Rose Fulbright (NRF) took the lion’s share of disclosed legal fees for that period, standing at almost £450,000, the body’s latest accounts reveal.

Recruiter Michael Page took home £919,919 in the ten months to October 2013, a 41% uptick on fees paid in the whole of 2012, when the figure was £654,555.

The fees are listed in the Law Society Group (LSG)’s latest financial accounts published in early June, with the 2013 financial period shortened to October in order to align it with the payment of practising certificate fees.

Legal Business

Silver linings playbook: can Norton Rose Fulbright bring its disputes team into the global elite?

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Focus Norton Rose Fulbright
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Sarah Downey assesses the post-merger state of NRF’s dispute resolution practice

With Norton Rose Fulbright (NRF)’s eye-catching union now over a year old, the top ten UK firm has achieved the enviable feat of creating, through a succession of global bolt-ons, a 3,800-lawyer firm with $1.9bn in revenue, almost without fallout.

Its 138-fee-earner (excluding trainees) City dispute resolution practice is something of an exception, having lost a handful of its star players, including Dorian Drew, adviser to ex-Barclays’ chief executive Bob Diamond on the Libor scandal, who last year left for Clifford Chance.

Legal Business

Norton Rose Fulbright hires CMS Cameron McKenna DCM partner

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Strategic recruitment CMS UKNorton Rose Fulbright
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Norton Rose Fulbright (NRF) has hired CMS Cameron McKenna banking and finance partner Nigel Dickinson to its debt capital markets team.

It is understood Dickinson recently resigned but is currently in negotiations with Camerons over clients. His start date at NRF has yet to be decided.

Prior to joining Camerons in 2012 as a partner in the financial services and products group, Dickinson worked in the London and New York offices of Magic Circle firm Allen & Overy, where he was a senior associate. He advises investment banks and retail banks, end users and service providers on matters including derivative-linked debt securities, structured products and complex liquidity, regulatory capital, accounting, tax, risk-transfer and funding transactions.

Acknowledged as a third-tier DCM team by the Legal 500, NRF is said to be at the ‘forefront of market developments’ in areas including equity-linked and shari’ah-compliant structures, with JP Morgan and BNP Paribas listed as key clients.

In March the firm enhanced the practice area in Dubai with the hire of DCM partner Gregory Man from Clifford Chance.

Jeremy Edwards, global head of banking and finance, said: ‘Derivatives are now used in many of the transactions we are advising on globally, particularly those involving our banking, energy, infrastructure; mining and commodities and transport clients. Nigel’s appointment will significantly enhance our transactional derivative capability.’

Cameron McKenna, meanwhile, has made efforts in recent years to improve its sector offering including the hire of Simmons & Simmons Daniel Winterfeldt in 2011 to head its international capital markets practice, as well as partners Peter Crichton and Ashley Smith from DLA Piper in 2012 and A&O counsel Tim Elliott as partner last year.

Sarah.downey@legalease.co.uk

Legal Business

Norton Rose Fulbright’s Martyr set to stand in upcoming global leadership election

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Leadership Norton Rose Fulbright
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He’s been a long time at the top but, having transformed London stalwart Norton Rose into a global challenger, he is not ready to hand over just yet. Yes, Norton Rose Fulbright’s longstanding chief executive Peter Martyr is being widely tipped to stand in the legal giant’s upcoming election for its top leadership role.

With Martyr’s three-year term ending in December, it is understood that the City-based chief has put himself forward to take on the role again. If elected, it will constitute his fifth term in office.

The formal soundings process for potential candidates has not yet begun but is set to conclude by early autumn, when it will become clear if the election will be contested. Martyr, who originally assumed the leadership of Norton Rose in 2002, was last re-elected unopposed in 2011.

The process of succession for the role of chief executive is handled by its ‘future leadership commission’, a committee of ten partners across different jurisdictions. Its function is to evaluate individuals from junior partner level in order to identify those with the right skills to potentially step into senior leadership.

It is unclear if anyone would stand against Martyr, though one veteran partner at Norton Rose told Legal Business: ‘If it ain’t broke, don’t fix it.’

In contrast, one ex-Norton Rose partner commented: ‘I’m a firm believer that it’s good to have some change in management style. It gets stale after a while – secondly, it’s responsible, however good a manager might be, to look towards succession planning. Four terms is an extraordinary length of time. You need fresh blood and a fresh approach.’

Martyr is generally regarded to have been a successful leader after repositioning the legacy Norton Rose as a global force with a series of audacious mergers, though some partners have privately grumbled at the lack of consultation from the firm’s central management.

Martyr himself was the driving force behind the firm’s strategic global expansion, overseeing its entry into multiple overseas markets including its ambitious combination with Texan law firm Fulbright & Jaworski last June. Other tie-ups included a merger with Deacons Australia in 2010; its Canadian tie-ups with Ogilvy Renault and Macleod Dixon in 2011 and 2012 respectively; and Deneys Reitz in South Africa in 2011.

Sarah.downey@legalease.co.uk

Legal Business

Energy lawyers welcome Queen’s speech as Infrastructure Bill set to open pathways to fracking

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Legal affairs Norton Rose Fulbright
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Energy lawyers are expecting a hike in UK shale gas projects after the Queen’s speech yesterday (4 June) outlined plans to widen trespass laws in a draft Infrastructure Bill.

The Bill, which will bolster investment in infrastructure and reform planning law, is expected, according to the Queen’s speech, to allow fracking companies to drill under homes without needing to obtain express, individual permission.

While the Crown owns all sub-surface minerals in the UK, including oil and gas, companies are currently required go through the courts to obtain landowners’ consent and the necessary access rights. Attempting to drill without obtaining these rights constitutes trespass and fracking has so far been met with extreme resistance in the UK.

The Government plans to amend trespass laws, pending the results of a 12-week consultation on its plans to include the measure in the Bill.

Norton Rose Fulbright’s head of energy disputes, Neil Miller, who advised Star Energy in its 2010 Supreme Court dispute with Mohammed Al Fayed over whether drilling in his Surrey estate constituted trespass, told Legal Business: ‘Fracking is a terribly confrontational and contentious issue. People are understandably nervous about going on one side or the other, notably the Government.

‘But there has to be an essential method or means to find a way to allow it to proceed in a licensed and controlled way. The original way to go through the courts to attain land owner consent doesn’t help anyone – not land owners or companies trying to develop it.’

The British Geological Survey last year doubled estimates for shale reserves in northern England to 1,300 trillion cubic feet of gas.

Energy firms positioning themselves to take on UK shale gas work include Dentons, Herbert Smith Freehills, Mayer Brown and leading US energy firm Bracewell & Guiliani, while firms that are already active in the US shale gas market and can be expected to make a play include Baker Botts, Vinson & Elkins and Akin Gump Strauss Hauer & Feld.

Sarah.downey@legalease.co.uk

Legal Business

International expansion: openings for Charles Russell in Saudi; Eversheds in Durban; Osborne Clarke in Amsterdam

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Strategic recruitment Baker McKenzieCharles Russell SpeechlysNorton Rose Fulbright
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A trio of UK firms have this week expanded their international office base as Charles Russell agrees a formal association with Saudi Arabian firm Al-Soaib Law, Eversheds continues to enhance its operations in Africa via a tie-up with Durban-based Knight Turner and Osborne Clarke (OC) opens an office in Amsterdam with a four partner hire.

Charles Russell, which is currently in merger talks with Speechly Bircham, said on Sunday (1 June) that the association with Al-Saoaib Law is a key part of its plans for expansion in the wider Gulf region.

The firm, which already has offices in Bahrain and Qatar and has worked with Al-Soaib on international and cross-border matters, will now have offices in Riyadh and Al Khobar.

Head of Charles Russell’s Bahrain office, Patrick Gearon, said: ‘The formalising of our relationship with Al-Soaib Law further demonstrates our commitment to the region. Our story in the Middle East is one of growth, with over 20 lawyers now based in Bahrain and a team now also based in our new offices in Doha, a presence in the Kingdom of Saudi Arabia is a natural next step and we are delighted to be able to team up with our friends at Al-Soaib.’

It comes after the top 50 firm last month unveiled healthy growth for the 2013/14 financial year, with revenue at the 310-lawyer firm up 7% while profit per equity partner (PEP) is expected to increase to around £350,000, constituting a 10% rise.

Yesterday (2 June), meanwhile, saw Eversheds build its footprint in Africa through an alliance with Durban-based law firm Knight Turner, a move which will see the local independent firm rebrand as Eversheds KZN. One of the most important manufacturing hubs in South Africa alongside Johannesburg, the firm’s entry into Durban follows the formation of its ‘pan-African’ strategy, leading to tie-ups with Mahons Attorneys in South Africa, as well as a presence in Johannesburg, Cape Town and Port Louis in Mauritius.

Eversheds chief executive Bryan Hughes said: ‘This latest agreement with established firm Knight Turner, forms a key part of our Pan African strategy as we firmly establish a presence in South Africa. Durban offers a strong commercial and logistics hub and we look forward to working collaboratively with the team at Eversheds KZN to offer a seamless client experience.’

Elsewhere, OC has made further inroads into the European legal market with the opening of an office in Amsterdam. Maintaining its focus on the digital sector, the firm has appointed Baker & McKenzie’s head of IP Michiel Odink to lead the team as managing partner of OC Amsterdam. Odink moves alongside fellow Bakers partner Jeroen Bedaux, who specialises in commercial litigation; London-based Norton Rose Fulbright IT partner Jeroen Lub; and employment partner Jorgo Tsiris who joins from Steins Bisschop & Schepel. Odink, Lub, and Tsiris are also all former Allen & Overy associates.

The addition of the Amsterdam office gives the firm a total of 18 offices in eight jurisdictions following the launch of its San Francisco office this year and Paris, New York and Brussels offices in 2013.

OC’s CEO Simon Beswick said: ‘As well as being a significant international hub, establishing our Amsterdam office gives us the increased ability to provide deep local and international market knowledge to our growing client base and access successful businesses in the Netherlands in the sectors in which we are strong. We intend to grow the office quickly over the coming months and are continuing our recruitment drive in the Amsterdam area.’

sarah.downey@legalease.co.uk

Legal Business

Sliding doors: Norton Rose Fulbright exits Prague; Kirkland launches in Houston

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Europe Kirkland & EllisNorton Rose Fulbright
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In the same week as Kirkland & Ellis announced it is opening in Houston, top 10 LB100 firm Norton Rose Fulbright (NRF) has confirmed it is withdrawing from the Prague market, closing its local office due to ‘difficult market’ conditions with effect from 1 May.

NRF’s Prague head Milana Chamberlain will return to London where she will take up a senior position within the London business, ethics and anti-corruption practice. Meanwhile, Prague partner Pavel Kvíčala will join Czech-Slovak law firm Havel, Holásek & Partners along with his immediate team on 1 May.

There are currently 18 staff in the office, 10 of which are fee-earners including two partners. It is the second time legacy City firm NRF has exited the Czech capital, having previously closed its doors in the region in 1996.

The new office was launched in 2006, and ranked second-tier for corporate and M&A according to the Legal 500.

NRF’s deputy managing partner for the Europe, Middle East and Asia regions, Tim Marsden said: ‘Prague is a difficult market for firms with a global business model to compete in. We have been keeping the Czech market under review for some time. With no strong signs that market conditions are likely to change, we have decided that now is an appropriate time to effect a managed exit. The smooth transition of relevant client matters to Pavel Kvíčala will be a priority, and we look forward to working closely with Pavel and his team at Havel Holásek in the future.’

In the US, meanwhile, Kirkland has launched an office in Houston, the firm’s seventh office in the jurisdiction, with the hire of M&A partner Andrew Calder from rival US firm Simpson Thacher & Bartlett.

Calder, who joins with associate Rhett Van Syoc, specialises in M&A, corporate and securities law, and corporate governance, with a particular focus on the energy sector. He comes with experience of advising private equity funds such as Blackstone Energy Partners and KKR, and companies like GeoSouthern Eagle Ford Development, Alta Energy Luxembourg, Arch Coal, Petrohawk Energy Corporation and PPL Corporation.

Kirkland corporate partner Benjamin Clinger is also relocating to Houston from the firm’s Chicago office. Clinger has experience of representing private equity sponsors in M&A, leveraged buyouts and portfolio company operations and exits.

Chairman of Kirkland’s global management executive committee, Jeffrey Hammes said: ‘Andrew is a first-class lawyer with an exceptional track record of achieving excellent results for top-tier clients on their most significant energy transactional matters. We are very pleased to both welcome him to the firm and to enhance the service we provide to all of our clients in the energy industry.’

Jaishree.kalia@legalease.co.uk

Sarah.downey@legalease.co.uk

Legal Business

First post-merger promotion round sees Norton Rose Fulbright make up 46

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Partnership promotions Norton Rose Fulbright
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Norton Rose Fulbright has announced its first global partner promotions since the merger of Norton Rose and leading Houston energy firm Fulbright & Jaworski took effect in June 2013. A total of 46 partners are being made up, including eight promotions to the South African equivalent role of director.

Twelve of the promotions fall in Europe, where 10 associates have been made up to partner in London, with Canada taking on the next largest grouping of promotions (11), followed by South Africa (8); the US (7); Latin America (3); Australia and Asia (2 each); and the Middle East (1).

The promotions are being made across all eight of the top 10 firm’s global practice groups, with 17 in corporate, M&A and securities; 10 in dispute resolution and litigation; nine in banking and finance; four in intellectual property; two in antitrust and competition; two in employment and labour; and one apiece in real estate and tax.

Female partners account for 20 of the 46 promotions, or 43 per cent.

In  2013, a pre-merger Norton Rose made up 33 partners, marginally down on a 2012 figure of 36. While the total number of partners promoted in this latest round is far in excess of recent Magic Circle figures, including Clifford Chance’s announcement today (23 April) that it will make up 21 partners, the merger has seen NRF become one of the largest of the international firms with 3,800 lawyers across 54 offices, including 11 in the USA.

Peter Martyr, global chief executive, said: ‘We continue to grow globally and I am pleased to welcome the new partners and directors who will play a key role in meeting the needs of our clients around the world. These are our first promotions in the United States following our US combination last year. We have also made a number of promotions in Latin America, which is consistent with the announcement of our Rio de Janeiro office in 2014.’

caroline.hill@legalease.co.uk

Details of the global partner promotions are:

Asia

Adrian Joyce (banking and finance, Tokyo)*

Shamim Razavi (corporate, M&A and securities, Jakarta) **

Australia

Wissam Abwi (corporate, M&A and securities, Sydney)

Toby Biddle (dispute resolution and litigation, Sydney)

Canada

Michael Bunn (corporate, M&A and securities, Toronto)

Kyle Kashuba (dispute resolution and litigation, Calgary)

Madeleine Loewenberg (employment and labour, Toronto)

Danielle Maksimow (banking and finance, Calgary)

David Millette (corporate, M&A and securities, Montréal)

Justin Pettigrew (corporate, M&A and securities, Calgary)

Louisa Pontrelli (intellectual property, Toronto)

Katherine Prusinkiewicz (corporate, M&A and securities, Calgary)

Marie-Hélène Rochon (intellectual property, Montréal)

Joshua Sadovnick (dispute resolution and litigation, Calgary)

Kristin Wall (intellectual property, Toronto)

Europe

Nadine Bourgeois (banking and finance, Frankfurt)

Sarah Cullen (banking and finance, London)

Chris Down (banking and finance, London)

Marcus Evans (corporate, M&A and securities, London)

Imogen Garner (corporate, M&A and securities, London)

Claudio Grisanti (tax, Milan and Rome)

Sarah McKellar (corporate, M&A and securities, London)

Fiona Millington (corporate, M&A and securities, London)

Simon Ramsden (dispute resolution and litigation, London)

James Russell (corporate, M&A and securities, London)

Mark Simpson (antitrust and competition, London)

Matt Waudby (dispute resolution and litigation, London)

Latin America

Kelly Blondet (employment and labour, Caracas)

Hernán Rodríguez (banking and finance, Bogotá)

Mauricio Zagarra (corporate, M&A and securities, Bogotá)

Middle East

Vandana Rupani (corporate, M&A and securities, Dubai)

South Africa

Louise Campion (banking and finance, Johannesburg)

Lara Granville (antitrust and competition, Johannesburg)

Laurie Hammond (banking and finance, Cape Town)

Tinashe Makoni (banking and finance, Johannesburg)

Vanessa Palmer (corporate, M&A and securities, Durban)

Deniro Pillay (dispute resolution and litigation, Durban)

Tessa Stuart (corporate, M&A and securities, Durban)

Carina van Vuuren (real estate, Johannesburg)

United States

Brian Boyle (dispute resolution and litigation, Houston)

Matthew Dekovich (dispute resolution and litigation, Houston)

Robert Greeson (intellectual property, Dallas)

Eric Herzog (dispute resolution and litigation, Los Angeles)

Stephen Huffaker (dispute resolution and litigation, Austin)

Scarlet McNellie (corporate, M&A and securities, Dallas)

Mark Oakes (corporate, M&A and securities, Austin)

* subject to regulatory approval

** operates as a Senior Foreign Counsel at Susandarini & Partners, in association with Norton Rose Fulbright Australia

Legal Business

Disputes: NRF hires Orrick litigation heavyweight as 20 Essex Street’s Morpuss QC joins Macfarlanes

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Litigation MacfarlanesNorton Rose Fulbright
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Norton Rose Fulbright (NRF) has today (10 April) announced the hire of Orrick Rambaud Martel’s Philippe Hameau as a dispute resolution and litigation partner in its Paris office. Meanwhile, in London, Macfarlanes has confirmed that it has appointed 20 Essex Street silk Guy Morpuss QC to provide its clients with advice and advocacy.

Effective from 28 April, Hameau, who is acknowledged by The Legal 500 as a leading individual in insolvency matters in France and as ‘a top expert’, is experienced in banking and commercial litigation, advising both domestic and international companies on crisis management, restructuring and insolvency matters. He also assists creditors and shareholders of distressed companies and has substantial experience in distressed acquisition work.

Before joining Orrick, Hameau was a partner at Freshfields Bruckhaus Deringer between 1997 to 2007, and went on to serve as head of Dewey & LeBoeuf’s Paris restructuring and insolvency group from 2008 to 2010.

Head of dispute resolution and litigation for Europe, Middle East and Asia at NRF, Deirdre Walker, said: ‘Philippe is a strong addition to our growing dispute and litigation team and will expand our restructuring and insolvency capabilities. Philippe’s focus will be on global and domestic clients with an emphasis on the financial institutions sector.’

George Paterson, head of the Paris office of Norton Rose Fulbright added: ‘We are delighted to welcome Philippe, a well-known lawyer in the French restructuring market. Litigation in restructuring and insolvency is an area that has seen increased activity in recent years, not only in France, but across the region. Working alongside Christian Dargham, Philippe’s arrival will add further depth to our wider litigation and business ethics offering in Paris.’

Meanwhile, Morpuss QC joined Macfarlanes as a barrister on 1 April 2014. Although he will work from the firm’s offices, he has not joined as a partner as he did not wish to have a partnership role, a spokesperson confirmed. He will provide advocacy and advice exclusively for the firm’s clients in his role as counsel.

Now leading the firm’s advocacy and arbitration teams, previous high-profile work includes representing one of the Lehman Brothers companies in a High Court, as well as Equitable Life for several years in relation to its disputes with former directors and professional advisers. He has also previously worked on arbitration proceedings between Formula One teams, and on disputes relating to the London 2012 Olympic Games.

Macfarlanes’ head of litigation Iain Mackie, said: ‘We have worked extremely closely with Guy for some years and it is a natural development of our working relationship for Guy to work directly with Macfarlanes on an exclusive basis.’

sarah.downey@legalease.co.uk

Legal Business

Asia: Latham hires V&E ex China co-head in HK; NRF hires DLA’s Singapore corporate head; Clayton Utz ends HK association

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Strategic recruitment Clayton UtzLatham & WatkinsNorton Rose Fulbright
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The past week has seen global top three firm Latham & Watkins hire Vinson & Elkins’ former China co-head David Blumental in Hong Kong, as Norton Rose Fulbright (NRF) takes on DLA Piper’s Singapore corporate head Sheela Moorthy and big six Australian firm Clayton Utz ends its association in Hong Kong with Haley & Co.

Blumental’s practice covers cross-border M&A, joint ventures, project development and financing, and private equity investments focusing on oil and gas, LNG, infrastructure and mining. He has worked in China, North and South America, Africa, Russia and the CIS, Southeast Asia and Australia.

The oil and gas partner relocated to Hong Kong after Vinson & Elkins closed its Shanghai office in August last year, as energy specialist Tju Liang Chua left the firm to join US rival Sidley Austin in Singapore.

‘As we continue to position ourselves as one of the leading global oil and gas firms David has a unique blend of Asian experience and knowledge that makes him an exciting and important addition to our existing Asian energy and natural resources team,’ said David Miles, chair of Lathams’ Asia practice and a partner in the firm’s Hong Kong office.

Elsewhere NRF, which last month had its Singapore qualifying foreign legal practice (QFLP) licence extended for another five years, has bulked up its presence in the region with the hire of Moorthy, who becomes the fourth partner exit from DLA’s Singapore office in two years.

Moorthy has over 20 years’ experience working on cross-border transactions in Singapore, Indonesia, India, Korea, Malaysia, the Philippines, South Africa, Thailand and Vietnam.

QFLPs, which enable law firms to practice some Singapore law, are highly sought after and held by only nine international law firms in total, despite 23 applying in 2012.

‘Her dual qualification in England and Singapore is significant for the practice, and her experience in the energy, life sciences and technology sectors makes her a great fit for our team and our clients,’ said Jeff Smith, head of NRF’s Southeast Asia practice.

Meanwhile, Clayton Utz has called time on its association with Hong Kong firm Haley & Co after four years. Chief executive partner Darryl McDonough said the move reflected the evolution of Clayton Utz’s international strategy and its focus on being Australia’s top-tier independent law firm. This comment follows recent tie-ups between peer group firms such as Freehills, Mallesons Stephen Jaques and Blake Dawson with global firms Herbert Smith, King & Wood (and subsequently SJ Berwin) and Ashurst respectively.

‘With the changes in the legal services market we have developed a clear strategic focus on being Australia’s pre-eminent top-tier independent law firm with deep relationships with a comprehensive network of “best in market” law firms in key international jurisdictions. The success of that clear strategic focus led us to a mutual agreement with Haley & Co to withdraw from our association,’ said McDonough.

Glenn Haley, the senior partner of Haley & Co, said that the end of the association will have no effect on the firm’s Hong Kong office. The association is due to end on June 30.

Caroline.hill@legalease.co.uk