Herbert Smith Freehills (HSF) has registered a sharp increase in profitability in its second full financial year since its merger, as revenues passed the £800m mark.
TLT boosts City financial services offering with Barclays’ team head hire
TLT has boosted its financial services offering with the hire of Barclays’ investigations and enforcement head Jake McQuitty, who joins the firm as a partner.
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KWM seeks to rebuild City private equity practice with Fried Frank hire
After suffering a series of raids on its renowned City private equity practice, including the announced departure of partner Simon Fulbrook earlier today (1 July), King & Wood Mallesons (KWM) has sought to rebuild its flagship group with the hire of Laura Brunnen from Fried, Frank, Harris, Shriver & Jacobson.
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Weil makes China lateral move with acquisition of Freshfields’ Ching
Weil, Gotshal & Manges has bolstered its Shanghai office with the hire of Freshfields Bruckhaus Deringer’s New York-qualified corporate partner Charles Ching.
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An American in Paris: Jones Day seeks to bolster teams through local recruits
Jones Day has launched a fund formation practice in Paris through the hire of partner Catherine Martougin from Luxembourg firm Arendt & Medernach in a bid to boost the firm’s private equity capabilities, while it also recruited a five-strong team from French firm Gide Loyrette Nouel to boost its TMT practice, particularly in Africa and the Middle East.
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A&O records a solid year with 4% revenue growth while profits jump 8%
The second Magic Circle firm to post its financial results, Allen & Overy (A&O) has moved ahead of peer firm Linklaters with an annual revenue of £1.28bn for the financial year ending June 2014/15, up £47m, or 4%, from £1.23bn.
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White & Case appoints management as Verrier re-elected while CMS hands Brandi a second term
Both White & Case and CMS announced yesterday the re-election of their executive chairmen with Hugh Verrier taking the role on for a third time at the US firm while CMS’ Cornelius Brandi was elected for a second term.
Strike action: Solicitors and barristers to boycott legal aid cases from 1 July following ‘untenable’ cuts
Solicitors and barristers in London and across the UK have agreed to boycott legal aids cases from tomorrow (1 July) following ‘untenable’ further cuts of 8.75% in fees for duty solicitors.
Dealwatch: CC and Linklaters take lead on GE’s $2.2bn finance unit sale to Japan’s SMBC
Magic Circle duo Clifford Chance (CC) and Linklaters have taken lead advisory roles on General Electric’s $2.2bn sale of its European private equity financing business to a unit of Japan’s Sumitomo Mitsui Banking Corp (SMBC).
Cross-border teams at Gibson Dunn and Weil advise on $18bn Willis and Towers Watson merger
US duo Gibson, Dunn & Crutcher and Weil, Gotshal & Manges have won key roles on the headline merger of Willis Group Holdings, one of the world’s oldest insurance broker, and human resources consultancy Towers Watson, for $18bn.
Bird & Bird loses £1.8m professional negligence case over planning report
Bird & Bird has lost a professional negligence dispute taken by former client and offshore company Orientfield Holdings at London’s High Court and been ordered to pay out £1.8m in damages plus interest.
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Shearman partners with three-office Saudi firm as it builds Middle East presence
While some law firms are consolidating their presence in the region, Shearman & Sterling has bolstered its presence in the Middle East through an affiliation with local Saudi Arabian firm Abdulaziz Alassaf & Partners.
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Orrick hires Hogan Lovells’ heads of energy and renewables as it continues City build-out
Orrick, Herrington & Sutcliffe has continued with its European strategy revamp, building its energy team in London by hiring Hogan Lovells’ global co-head of energy and natural resources Matthew Williams and renewables co-head John Deacon.
Guest post: The Path to a High Achieving Culture – it turns out that money isn’t the driver
In a guest post, Aric Press, partner at the legal consultancy Bernero & Press and former editor-in-chief of The American Lawyer argues the path towards a high achieving culture in law firms turns out not to be money driven. It’s human nature, unleashed.
Revolving doors: Key City hires for Gibson Dunn and Bakers as Eversheds loses former planning head
Last week saw both international firms making strategic moves in the City and at a national level several key hires, with Gibson Dunn & Crutcher hiring from Kirkland & Ellis, Baker & McKenzie bolstering its tax offering with a recruit from EY, Howes Percival appointing a new head of planning from Eversheds and DWF turning in-house to build its national nuclear energy team.
Dechert re-elects leadership and picks corporate partner Nassau for chief executive in 2016
The partnership at Dechert have re-elected Andrew Levander chair for another four-year term, while chief executive Daniel O’Donnell has been given another year as corporate partner Henry Nassau is primed to take on the role when O’Donnell stands down in July 2016.
Dealwatch: A&O and Linklaters sweep roles on €25bn supermarket merger alongside US trio
The €25bn merger between international food retailers Delhaize Group and Royal Ahold has seen Allen & Overy (A&O) and Linklaters win roles advising the two sides alongside Cravath, Swaine & Moore, Simpson Thacher & Bartlett and Sullivan & Cromwell.
Hunting titans: A&O loses out to City firm Seddons in High Court Italian derivatives dispute
City firm Seddons has won a long running battle at the High Court for the Italian public authority Comune di Prato in a four-year dispute against Allen & Overy-client Dexia Crediop, an Italian investment bank, over six derivative contracts.
1,500 partners: Just three City lawyers make the grade in Bakers’ 83-strong promotions round
Baker & McKenzie has announced its 2015 promotions round with 83 lawyers making partner, 40% of whom are female, but with only three being made up in the City.
City moves: Kirkland hires Weil’s London tax chief Kandel as Jones Day boosts its project finance team with a lateral from Latham
It has been a busy couple of days for the City hire market, with leading London tax partner Jonathan Kandel departing Weil, Gotshal & Manges for Kirkland & Ellis while project finance partner Nick Collins is set to join Jones Day from Latham & Watkins.