2018 saw Ofcom decide that BT held significant market power in relation to stand-alone landline customers, finding that the company had been overcharging customers by at least £7 a month. Due to the significant market power exerted by BT, Ofcom and BT agreed to reduce its prices going forward. However, compensation was not provided for …
As the latest edition of Legal Business went to press in late April, Allen & Overy (A&O) and Shearman & Sterling were working to a deadline of their own – the 1 May go-live date for their mega-merger. The headline figures are undeniable – A&O Shearman will come into existence with 4,000 lawyers in 48 …
Sidley Austin has continued its decade-long streak of growth in London, posting a 12.4% hike to reach $209.7m, with firmwide revenues reaching the $3bn mark. While global revenues grew 6.1% on last year, with profit per equity partner (PEP) up 10.3% to $4.6m, the Chicago-headquartered firm’s London office stood out with another year of double-digit growth.
Allen & Overy has hired its second partner from the London arm of Milbank so far this year, bolstering its restructuring practice with the addition of partner Karen McMaster. Recognised as a leading individual in The Legal 500, McMaster leaves Milbank after six years at the US firm.
Following his initial appointment to lead Baker McKenzie’s London office in 2021, managing partner Ed Poulton has been re-elected for another three-year term, starting from July. Speaking to Legal Business, he described the process of being re-elected as ‘relatively straightforward’. ‘We conduct soundings so that the partners get a chance to speak to a small …
Herbert Smith Freehills this week announced the appointment of new co-heads of its global arbitration practice, succeeding Paula Hodges KC, who is retiring after 37 years with the firm. Simon Chapman KC and Andrew Cannon will now co-lead the practice.
Paul Weiss, Kirkland, and Skadden were all active in London lateral hires this week, with two partner exits from Linklaters amid the moves.
Prominent high-yield partner Kevin Muzilla has retired from Allen & Overy, in the latest departure from the practice ahead of next month’s A&O Shearman mega-merger. Ranked in the Legal 500 Hall of Fame for London high-yield, Muzilla joined A&O from Milbank as a partner in 2009, and has since headed up the firm’s leveraged finance …
DLA Piper has expanded its presence in Germany with the opening of its fifth office there, with confirmation of the move coming as Paul Weiss pushes ahead with a competition launch in Brussels. Adding to its offices in Frankfurt, Hamburg, Cologne, and Munich, DLA Piper is set to establish in Düsseldorf on 15 April this …
Following a less than stellar 2023, M&A activity in Q1 has picked up pace as market confidence grows, according to data compiled by Dealogic.
