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Burges Salmon rides out Covid crisis to break £100m revenue threshold

Burges Salmon has become the latest firm to defy market uncertainty in the face of the coronavirus pandemic as it posted double-digit revenue growth to pass the £100m turnover milestone for the first time.

A strong set of 2019/20 results for the Bristol-based firm saw revenue grow 11% from £94.6m to £104.9m as operating profit increased by a comparable 11%. Also, the firm’s reporting period runs until the end of April, encompassing some six weeks of the Covid-19 lockdown and fallout.   Continue reading “Burges Salmon rides out Covid crisis to break £100m revenue threshold”

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Legal Business Awards 2020 – Boutique Law Firm of the Year

The entries have been assessed and our research completed: we are now delighted to reveal our Boutique Law Firm of the Year for the 2020 Legal Business Awards.

With specialist law firms striking an increasingly confident note in the market, this award goes to a niche practice that has performed exceptionally in terms of rapidly establishing itself, approaching its chosen market creatively and effectively competing against far larger competition. Continue reading “Legal Business Awards 2020 – Boutique Law Firm of the Year”

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Skadden doubles down on City recruitment drive with hire of Freshfields star Embley

US-branded shark fin in a City sea

Skadden, Arps, Slate, Meagher & Flom has hired one of the most well-known M&A partners in the City, Freshfields Bruckhaus Deringer veteran Bruce Embley. 

The move is a major fillip for Skadden, which has long been accused of being too conservative in its City hiring policy as well as underweight in its M&A offering since respected rainmaker Michael Hatchard retired at the end of 2017.  Continue reading “Skadden doubles down on City recruitment drive with hire of Freshfields star Embley”

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Legal Business Awards 2020 – CSR Programme of the Year

After reviewing dozens of highly impressive entries, we are now delighted to reveal the winner of CSR Programme of the Year at the 2020 Legal Business Awards.

In recognition of either a single law firm, in-house team or chambers, or even a wider association, this award is given to those in the industry that have made the strongest overall contribution to corporate social responsibility. Reference can be made to a range of areas, including pro bono and community activities, environmental and workplace initiatives and responsible client selection. Continue reading “Legal Business Awards 2020 – CSR Programme of the Year”

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‘An easy decision’: Sidley London private equity team lands at Goodwin 

Goodwin’s already eye-catching City office has pulled off another coup, attracting the storied Sidley Austin private equity team led by Erik Dahl and Christian Iwasko.

Dahl and Iwasko, who joined Sidley from Kirkland & Ellis in 2016, were most recently co-leaders of Sidley’s private equity practice and co-heads of the European corporate and private equity group respectively.   Continue reading “‘An easy decision’: Sidley London private equity team lands at Goodwin “

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Glass ceiling finally shattered for Magic Circle as Freshfields elects female senior partner

Freshfields Bruckhaus Deringer

While the upper echelon of City law has seen senior female leaders before in Penelope Warne at CMS, Sonya Leydecker at Herbert Smith and Lovells’ Lesley McDonagh before them, Freshfields Bruckhaus Deringer has beaten Allen & Overy, Clifford Chance and Linklaters to the punch by electing the first-ever woman to a top leadership role in the Magic Circle. The firm today (24 September) announced it has elected Asia disputes head Georgia Dawson as its new senior partner. 

And – as has long been rumoured – the new senior partner will head up a reconfigured leadership team, including the hotly-tipped Alan Mason and Rick van Aerssen, as well as Rafique Bachour.  Continue reading “Glass ceiling finally shattered for Magic Circle as Freshfields elects female senior partner”

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Legal Business Awards 2020 –
In-House Team of the Year

The entries were reviewed and our panel of general counsel judges delivered their verdicts: we are now delighted to reveal the winner of In-House Team of the Year for the 2020 Legal Business Awards.

Tying in with our annual GC Powerlist: UK report and event, this award is given to the in-house team that can demonstrate outstanding performance on behalf of the company, either through innovative use of its own resources or effective management of external law firms. Continue reading “Legal Business Awards 2020 – In-House Team of the Year”

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Legal Business Awards 2020 – GC of the Year

After reviewing the evidence for dozens of candidates, we are delighted to reveal our GC of the Year for the 2020 Legal Business Awards.

The winner of this award is a UK-based general counsel who has truly led the way for their business in 2019. Key factors that influenced our judging panel included board profile, outstanding strategic thinking, superb communication skills and the extent to which individuals have the support of their teams in delivering exceptional value to the wider business to help it move forward. Continue reading “Legal Business Awards 2020 – GC of the Year”

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Australia yields two new board members for Ashurst as Davies gets re-elected in London

Ashurst London office

Ashurst has elected two new board members from its corporate partner ranks in Sydney and Melbourne while respected dealmaker Karen Davies has been reappointed in London.

The move, which takes effect on 1 November, sees Sydney corporate partner Phil Breden and Melbourne corporate partner Kylie Lane elevated as Davies, who has been on the board since 2017, is re-enlisted for a further stint. Continue reading “Australia yields two new board members for Ashurst as Davies gets re-elected in London”

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Revolving doors: CC fertile hunting ground for Simpson Thacher as Mishcon loses two disputes partners in a week

Lateral hires are not commonplace for Simpson Thacher & Bartlett but when it does in London, Clifford Chance is often the firm to lose out. The firm that hired Adam Signy, Jason Glover and Amy Mahon from CC has once again hired from the Magic Circle player, this time adding financial regulation specialist Owen Lysak. 

Lysak advises private funds, asset managers and financial institutions on UK and EU financial market regulations and transactions, including in relation to AIFMD, MiFID II and MiFIR. He counsels market participants on regulatory capital requirements and securities regulation, on markets abuse regulations, and on issues related to Brexit and the financial crisis regulatory response. He also advises on the regulatory aspects of M&A and restructurings within the financial sector. He became a partner at CC in 2017.  Continue reading “Revolving doors: CC fertile hunting ground for Simpson Thacher as Mishcon loses two disputes partners in a week”

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Leadership and development

Philip Price

 

Philip Price

TP ICAP

Team size: 120

Major legal advisers: Allen & Overy, Herbert Smith Freehills, K&L Gates, Linklaters, Mayer Brown, Osborne Clarke, PwC, Sidley Austin, Simmons & Simmons, Squire Patton Boggs, Travers Smith

‘We try and do what we call “brilliant basics”,’ TP ICAP executive director and group general counsel (GC) Philip Price comments. ‘That means best-in-class panel arrangements and using the best technology and management information, which allows us to operate in the way any 21st century in-house team should.’ Continue reading “Leadership and development”

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Legal Business Awards 2020 – Rising Star In-House Counsel of the Year

The entries have been assessed and our research completed: we are now delighted to reveal the winner of  Rising Star In-House Counsel of the Year for the 2020 Legal Business Awards.

Tying in with our annual GC Powerlist: UK report in recognising outstanding achievements by in-house lawyers below group general counsel level, this award focuses on the rising stars tipped for great things by their colleagues, peers and advisers. Continue reading “Legal Business Awards 2020 – Rising Star In-House Counsel of the Year”

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‘The top firms can hardly believe it’ – City law firms are quietly gathering momentum amid the uncertainty

City of London

The back-to-school feel in the City is unmistakable, not least because the actual schools are back, as major law firms attempt to find something like normality in an environment that remains a few standard deviations from the norm.

In some ways it was ever thus come the end of August. As one law firm leader remarks: ‘I said to our FD: “September will be crucial,” and was swiftly was reminded I’ve said that for the last five years.’ This has always been the defining period for law firms’ financial year, just more so now. So, how’s it looking out there? Continue reading “‘The top firms can hardly believe it’ – City law firms are quietly gathering momentum amid the uncertainty”

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Dealwatch: Tech going gangbusters as elite firms line up $40bn SoftBank buyout and Klarna equity raise

Digital whales

Standing out as one of the biggest mandates for external advisers in recent weeks, NVIDIA’s $40bn acquisition of Arm Limited from SoftBank kept transatlantic teams from Latham & Watkins and Morrison & Foerster on their toes in the artificial intelligence arena.

The deal sees California-based tech multinational NVIDIA acquire the Cambridge-headquartered AI company Arm from SoftBank Group and SoftBank Vision Fund in a cash and stock transaction. SoftBank will own a stake in NVIDIA of less than 10%.  Continue reading “Dealwatch: Tech going gangbusters as elite firms line up $40bn SoftBank buyout and Klarna equity raise”

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Legal Business Awards 2020 – Most Transformative In-House Team of the Year

In what is a brand new category for the Legal Business Awards in 2020, we are pleased to reveal the Most Transformative In-House Team of the Year.

This award recognises in-house legal teams that have made a major contribution to change or transformation either at an industry or sector level, or have championed unusual or innovative approaches. This could range from dealing admirably with dramatic changes in a particular industry to wrestling with challenges in society linked to cultural or technological upheaval.

Continue reading “Legal Business Awards 2020 – Most Transformative In-House Team of the Year”

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Legal Business Awards 2020 – International Firm of the Year

The entries have been assessed and our research completed: we are now delighted to reveal our International Firm of the Year for the 2020 Legal Business Awards.

This award acknowledges leading independent non-UK or US law firms – operating onshore or offshore – in mainland Europe, Latin America and the Caribbean, Asia, Australasia, the Middle East and Africa. Key factors taken into account by our judges include a clear demonstration of growing market share, a well-conceived business strategy, stellar financial performance, strong management, a successful recruitment and retention strategy and a significant client development programme.

Continue reading “Legal Business Awards 2020 – International Firm of the Year”

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Legal Business Award 2020 – Legal Technology Team of the Year

The entries were reviewed and our panel of general counsel judges delivered their verdicts: we are now delighted to reveal the winner of Legal Technology Team of the Year for the 2020 Legal Business Awards.

In this category, we recognise the law firms, in-house teams and chambers, either offshore or onshore, that have pushed through innovation and secured competitive advantage for their business. Important factors are fresh approaches in creating and delivering legal products, including utilising technology and new business models. Continue reading “Legal Business Award 2020 – Legal Technology Team of the Year”

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Legal Business Awards 2020 – Corporate Team of the Year

The entries have been assessed, the shortlists have been drawn up and our panel of general counsel judges have had their say: we are now delighted to reveal the winner of Corporate Team of the Year for the 2020 Legal Business Awards.

The successful firm in this category demonstrated excellence during 2019 in M&A or corporate work, including disposals, joint ventures and equity capital markets listings. It was not so much the value of the deal that impressed judges as much as evidence of outstanding transactional advice and commitment to the client in the context of one exceptional piece of work
Continue reading “Legal Business Awards 2020 – Corporate Team of the Year”

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Revolving Doors: Gibson Dunn loses another London corporate partner as Shearman hires former Freshfields senior hand

US-branded shark fin in a City sea

The recent City corporate merry-go-round at Gibson, Dunn & Crutcher has continued in the past week, with leading partner Nigel Stacey moving to Baker Botts in London. Meanwhile, Shearman & Sterling has hired former Freshfields Bruckhaus Deringer partner Simon Marchant.

Stacey – one of the major names remaining at Gibson Dunn’s London office – has more than 20 years’ experience in mergers and acquisitions and corporate finance, acting for major corporate clients on a wide range of public and private transactions and advisory matters across numerous sectors, including TMT and life sciences. He has acted on some of the UK’s most high-profile transactions, and on deals with an aggregate value in excess of $600bn.  Continue reading “Revolving Doors: Gibson Dunn loses another London corporate partner as Shearman hires former Freshfields senior hand”

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HSF ensures victory for regulator in major Covid-19 insurance test case 

broken scales

Herbert Smith Freehills  (HSF) has ensured victory for the Financial Conduct Authority (FCA) in a landmark test case intended to provide clarity on whether companies have valid business disruption insurance claims as a result of the Covid-19 pandemic.

The High Court judgment handed down this morning (15 September) by Lord Justice Flaux and Mr Justice Butcher will be a heavy blow to insurers, with tens of thousands of businesses now potentially in line for payouts on their business interruption policies.  Continue reading “HSF ensures victory for regulator in major Covid-19 insurance test case “