Legal Business

Mayer Brown, RPC and CMS and five other firms win roles on QBE UK panel review completion

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Adviser reviews CMS UKMayer BrownRPC

Eight firms including Mayer Brown, Clyde & Co, CMS Cameron McKenna Nabarro Olswang, DAC Beachcroft and RPC have won places on Australian insurer QBE’s UK panel review.

Berrymans Lace Mawer, DWF and Plexus have also been selected to provide legal advice across England, Wales and Scotland.

Motor and casualty will be provided exclusively by DWF and Plexus for claims under £250,000.

Commenting on the panel review, Alan Brownlee, head of claims procurement for QBE European Operations said: ‘ We are confident that these appointments will allow us to further develop the strategic partnerships with our panel that are critical in enabling us to deliver truly excellent service, innovation, outcomes and value to our customers in the years to come.’

Earlier this month, Legal Business reported that Bond Dickinson made up to five voluntary redundancies in its Bristol office after the firm lost out on a panel spot with QBE.

In a statement, the firm said: ‘Earlier this year following on from a panel loss we had to undertake a restructuring exercise with our professional risks team which resulted in voluntary redundancies. Fortunately, all of those solicitors who have now left the firm are moving on to new roles.’

Last October, Legal Business revealed that QBE was launching a review of its UK claims panel, following the appointment of Carol Scobie as group general counsel and company secretary in January 2016.

The UK panel, which was last reviewed in 2014, is responsible for carrying out a large amount of disputes work for the insurer.

The last UK review was overseen by then European claims director Dominic Clayden, now group chief claims officer, with firms including BLM, Mayer Brown, Plexus Law and RPC making the final list.

kathryn.mccann@legalease.co.uk

Legal Business

Travers Smith announces first ever all-female partner promotion round

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Partnership promotions RPCTaylor WessingTravers Smith

Travers Smith has unveiled its partner promotions for 2017, with four female associates making the cut. The number is slightly less than last year, when six associates (two of whom were women) were made up.

The new partners will assume their roles on July 1 2017, and all offer a different expertise. Heather Gagen has been made up in dispute resolution, possessing extensive experience as a commercial litigator. Gagen’s practice is broad and includes acting on shareholder claims and fraud cases.

Hannah Manning has been promoted to Travers’ tax department, specialising in tax on private equity transactions. Manning recently advised the management team of Source Holdings on its sale to investment managers Invesco UK.

Emma Havas will become a partner in the firm’s private equity practice. Havas advises clients such as Treehouse Group and Camden Ventures on matters such as group simplifications, management incentive plans and bolt-ons.

Travers’ real estate team has been broadened with the promotion of Emma Pereira. Pereira advises real estate funds on high-value investments and carries experience in the retail, student accommodation and logistics sectors.

Travers’ senior partner Chris Hale (pictured) commented: ‘We are excited not just to be able to promote these talented lawyers to the partnership, but to have our first ever female cohort of new partners. Each individual has demonstrated a strong track record of delivering an outstanding service to clients and we are confident they will each play an important part in the future success of both the teams in which they work and the firm as a whole.’

Elsewhere, Taylor Wessing also posted a slightly reduced promotion round as the firm made up ten partners, down on last year’s 15. RPC has promoted one more than last year, making up four partners to the firm’s London office.

tom.baker@legalease.co.uk

Legal Business

Appeal dismissed: RPC newspaper clients lose ‘no win no fee’ decision in Supreme Court

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Litigation Bates Wells BraithwaiteRPC

National newspaper groups including the publishers of The Times, the Daily Mail and The Mirror, represented by RPC and Bates Wells Braithwaite, have lost an appeal against ‘no win no fee’ style pay outs in libel and privacy claims.

Rules under Conditional Fee Agreements which are used in defamation and privacy cases can potentially add millions to the legal costs newspapers have to pay out for claimants.

The newspapers argued the threat of the damages was incompatible with the European Convention on Human Rights.

The case saw the Supreme Court reject an appeal over phone hacking by Mirror Group Newspapers, which will cost the publisher £1.2m in damages, as well as joint appeals by Times Newspapers and Associated Newspapers.

The case was heard before Lord Neuberger, President Lord Mance, Lord Sumption, Lord Hughes and Lord Hodge.

The government is currently undergoing a consultation into introducing a new costs regime for media law under section 40 of the Crime and Costs Act following the Leveson Inquiry.

RPC litigation partner Keith Mathieson represented claimants Mirror and Daily Mail publishers, instructing Gavin Millar QC and Ben Silverstone from Matrix Chambers for Associated Newspapers and Lord Pannick QC of Blackstone Chambers and Jamie Carpenter of Hailsham Chambers for MGN.

Bates Wells Braithwaite partner Rupert Earle instructed Richard Rampton QC and Kate Wilson of One Brick Court for Times Newspapers.

The respondents Gary Flood, Andrew Miller and Sadie Frost, with former England footballer Paul Gascoigne and others, were represented respectively by firms Edwin Coe (instructing James Price QC and William Bennett of 5RB) Simons Muirhead & Burton (instructing William McCormick QC of Ely Place Chambers and James Laughland of Temple Garden Chambers) and Atkins Thomson (instructing Hugh Tomlinson QC of Matrix, Simon Browne QC of Temple Garden and Jeremy Reed of Hogarth Chambers.

matthew.field@legalease.co.uk

Read more in: ‘Shock and Flaw – is Leveson workable?’

 

 

Legal Business

The age of the lawyer

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In-house RPC

RPC’s managing partner on the ‘business first’ role of GCs and their opportunities in the current economic climate

2016. The year that turned the world on its head. And when the world is spinning on that axis too, you can bet your bottom euro that good lawyers will be at the heart of the action.

Legal Business

Q&A: RPC’s new managing partner talks strategy, international expansion and tech

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Leadership RPC

With long-term managing partner Jonathan Watmough stepping down in December last year, insurance head James Miller has taken over the reins at RPC. Legal Business caught up with him to discuss the priorities for the new leader.

What is your immediate strategy for RPC?

So far it has been business as usual. I’m very lucky to come in on the back of 11.5% turnover growth over five years. Insurance has been one of our core strengths and we will continue to invest there, but my focus now is on the whole firm. Really we try to invest in people: if we felt we were under strength we would hire, but I am quite happy with our strategic balance.

Legal Business

RPC loses Julia Chain and consulting team as former T-Mobile GC joins eDiscovery firm

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Strategic recruitment RPC

In what could be the end of its 18 month old general counsel consultancy group, RPC has seen the exit of in-house guru Julia Chain, who moves to join eDiscovery provider Millnet.

Chain (pictured) joins Millnet, which was recently acquired by US firm Advanced Discovery, as UK managing director. Millnet enjoyed turnover of £13m in 2015/16, and claims to be the largest eDiscovery and document services firm in the UK.

Chain had spent only around 18 months with RPC, founding its in-house consulting arm RPC Perform in May 2016. The firm has yet to choose a replacement to lead RPC Perform after the departure of Chain and two of her key deputies.

Several of Chain’s team at RPC Perform are expected to move to Millnet, including Varun Srikumar, who joined RPC from Royal Bank of Scotland, and Andrew Dey, who arrived from Barclays. The group exit leaves RPC Perform without the bulk of its consultants.

Chain was UK managing partner of Anderson Legal until 1998 and later general counsel of T-Mobile, before moving into consultancy work as managing director Huron Legal and later founding her own in-house consultancy team.

Chain told Legal Business: ‘Millnet is the largest eDiscovery firm in England and its acquisition by Advanced Discovery has taken it to a worldwide stage. We found RPC Perform was becoming more of a technology-focused business. Millnet seemed like an ideal fit for the team as we look to move the company into working with corporates. We recognise that law firm clients are still important, and we want to build on that success, as well as expanding further into European markets and the Nordics.’

RPC has recently seen a handover in top level management with the departure of long-term managing partner Jonathan Watmough. Insurance head James Miller was elected managing partner in January ahead of commercial head Tim Anderson.

Miller said: ‘Naturally we’re disappointed as Julia is a class act, but we can see she has been given a fantastic opportunity. The focus of the team’s work had begun to shift more towards technology solutions, so moving to a technology provider is a natural step for her and her team – we understand that. As a client of Millnet, we look forward to continuing to work with Julia over the years to come.’

matthew.field@legalease.co.uk

Legal Business

Making it official: RPC to finalise combination with Hong Kong alliance firm Smyth & Co

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Hong Kong RPC

Four years after launching its association in the city, RPC is to formally combine with its local alliance firm Smyth & Co in Hong Kong.

The firm has applied for a name change with the Hong Kong Law Society, aiming for a completion date of 1 May. The move will end the association and permit RPC to deliver local legal advice under its own brand and complete the integration, operating as a Hong Kong law firm in the city.

RPC launched as Smyth & Co in Hong Kong in 2013 with five partners, recruiting litigation lawyer David Smyth as senior partner from Clyde & Co.

Recent months have seen RPC’s newly-elected managing partner James Miller and senior partner Rupert Boswall qualify in Hong Kong as part of the process of integrating the new firm under Law Society rules. Hong Kong law meant RPC was required to launch as an association, waiting at least three years before it could complete a formal tie up and rebrand as RPC.

In its Asian practice, the firm has recently made moves to expand its corporate offering. The team has grown to nine partners, including hiring corporate partner Janney Chong, who joined from Sidley Austin on 1 March. Chong is an IPO specialist, acting on 30 Hong Kong IPOs.

Smyth & Co also recently hired M&A and private equity lawyer Jeremy Cunningham as a partner from Mayer Brown in November 2016.

Last year, RPC secured a tie-up with Singaporean firm Premier Law. The Singapore offering, which trades as RPC Premier Law, sees the firm concentrated on banking and financial dispute resolution, M&A, insurance and marine work.

LB100 firms, including Taylor Wessing and Osborne Clarke, have also moved into Hong Kong in recent years, with both launching local associations in 2015 and 2016 respectively.

matthew.field@legalease.co.uk

Legal Business

RPC accounts show management pay falls to £6m as consulting makes up 1% of revenue growth

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Financial results 2015/16 RPC

RPC has seen its total pay to key management personnel drop to £6m for the 2015/16 financial year, down from £6.3m the year before, while remuneration to the firm’s highest paid member also fell.

The profit attributed to the highest paid member was £840,800 for 2015/16, down from just over £995,000 the year before, according to the firm’s LLP accounts.

While the LB100 firm’s 2015/16 financial report last summer suggest a 1% increase in profits, RPC’s accounts suggest profit available for distribution among members fell slightly to £26,900, down from £27,500 the year before.

Turnover had increased at the firm to around £100m. The firm said that 1% of its revenue growth was from RPC Consulting while 5% came from legal activities.

According to the accounts, the total number of fee earners rose to 317, up from 300, while the total number of support staff was up to 233 from 216. The total number of partners increased to 71 from 67. Staff wages increased by £38.7m for 2015/16 from £35.4m.

RPC recently saw long-term managing partner Jonathan Watmough (pictured) retire from his role after eight years leading the firm. Commercial head Tim Anderson and insurance head James Miller currently run the firm as de facto joint managing partners.

Last week, Legal Business reported RPC had expects to pay more than £3.5m as part of its acquisition of Cambridge software company Marriott Sinclair in 2015. The company is now valued, including goodwill, at £11.5m.

Marriott Sinclair now forms part of RPC Consulting, run by managing partner Rory O’Brien. The launch of the consulting arm has also seen the firm acquire its new office in Cambridge and open an actuarial services office in France with the hire of Stéphane Chappelier in May last year.

matthew.field@legalease.co.uk

 

Legal Business

RPC splashes more than £3.5m on software for loss making consulting arm, LLPs reveal

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Legal tech RPC

RPC’s consulting arm will spend more than £3.5m on its acquisition of Cambridge software company Marriott Sinclair, purchased in July 2015.

RPC Consulting paid £1m in cash for the software firm, and promised deferred consideration of £2.6m. According to its LLP accounts, including goodwill the acquisition is worth £11.5m.

The management consultancy spin-off set up by RPC in February 2015 turned over just over £1m, according to the companies published LLP accounts. It reported a loss of £2.6m, largely attributed to staff costs as well as the cost of the acquisition.

In September last year, Legal Business revealed the start-up was targeting £50m in turnover within five years as a result of the acquisition. The company, founded by former Towers Watson global head of risk Rory O’Brien, provides management consultancy services to clients, which include global insurance firm Hiscox, but has primarily been capitalising on the software brought in by its combination.

Tyche, a software platform developed by Marriott Sinclair, tackles some of the main challenges for insurance companies responding to recent EU regulations under Solvency II – a capital requirement test introduced in 2016.

RPC Consulting managing partner Rory O’Brien said: ‘From a financial perspective we are delighted with the progress we have made in such a short period and are confident of meeting our financial expectations by the end of the year.

O’Brien (pictured) said: ‘The RPC brand has been instrumental in winning clients like Hiscox, and being independent, exclusively insurance focused and combining software, actuarial and management consulting has proved to be a winning formula. With 56 people we are now a meaningful force in the market and are now one of the largest, if not the largest, independent actuarial and software firms in the UK after just two years.’

The launch of the consulting arm has also seen the firm acquire a new office in Cambridge and open an actuarial services office in France with the hire of Stéphane Chappelier in May last year.

matthew.field@legalease.co.uk

 

Legal Business

RPC to hold leadership election as MP Watmough stands down after eight years

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Leadership RPC
legal-business-default

City firm RPC has launched an election process for a new managing partner following the recent retirement of longstanding head Jonathan Watmough, who steps down after nearly a decade in the role.

The election for his successor will be held in January 2017 and the firm’s new leader will assume the role in February. Commercial head Tim Anderson and insurance head James Miller will act as de facto joint managing partners in the meantime.

Corporate lawyer Watmough (pictured) joined the firm as a trainee in 1991, and was promoted to partner in 1998. He was elected as chairman of RPC’s management board in 2006, and appointed managing partner in 2008.

One of the most consistent success stories of the UK legal market in recent years, Watmough has seen the firm through substantial investment and growth.

RPC, which is known for its work with the insurance industry, branched out into management consultancy in 2015, targeting its core insurance clients and hired Rory O’Brien, former global head of risk consulting at Towers Watson to lead the venture.

It added to this business with the launch of a consultancy for in-house lawyers. Dubbed RPC Perform, the consultancy is headed by Julia Chain, the former general counsel of T-Mobile.

International expansion saw the firm complete a tie-up with Singapore firm Premier Law, expanding its presence in South East Asia to target claims against major banks, giving the firm with four offices: in London, Bristol, Hong Kong and Singapore.

Financials have been steadily rising, with the firm posting 12% revenue growth in 2014/15, a result muted slightly by this year’s revenue rise of 6%, to £100.5m from £94.4m. The core law firm business’s profits rose by 1%, with Watmough calling the result ‘a stellar year’. Watmough said the 6% increase was a great achievement given the uncertainty surrounding the EU referendum.

On his retirement, Watmough said it was a ‘natural time’ to move on and added: ‘It is time to both try something new and to give someone else their chance. I have achieved everything I wanted to achieve and I am delighted to leave the firm in excellent health.’

Senior partner Rupert Boswall commented that during Watmough’s tenure, the firm has had success ‘both in terms of the modernisation and reshaping of the business, as well as the strong growth and financial performance achieved.’

sarah.downey@legalease.co.uk