Moment of truth: New Law champion Axiom unveils float plans but break up of its business raises doubts

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Moment of truth: New Law champion Axiom unveils float plans but break up of its business raises doubts

Axiom making good on long-trailed plans to float will be a milestone for New Law. Thomas Alan assesses if the trailblazer can live up to its own rhetoric

When Axiom announced in February its intentions to float, it was a seminal moment for New Law, with the pioneering flexible lawyering company established as the most prominent global brand in the sector. Back in 2013 one excited commentator forecast 2018 as the year Axiom would become the world’s largest legal provider (spoiler alert, it still wouldn’t make the Global 100). Continue reading “Moment of truth: New Law champion Axiom unveils float plans but break up of its business raises doubts”

Post-merger chemistry and an absence of crisis mark BCLP launch but firm is yet to settle into its stride

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Post-merger chemistry and an absence of crisis mark BCLP launch but firm is yet to settle into its stride

Thomas Alan finds mixed omens in the wake of BCLP’s high-stakes union. A solid start cannot obscure that 2019 will be a crucial period for the Anglo-American challenger

When indications of a merger between legacy firms Berwin Leighton Paisner (BLP) and Bryan Cave first emerged in late 2017, there were mixed reactions about the potential union. As Legal Business noted last summer: ‘Confirmation earlier this year that BLP was uniting with a solid US operator, but one whose brand had limited potency in Europe, did not quicken the pulse.’ Continue reading “Post-merger chemistry and an absence of crisis mark BCLP launch but firm is yet to settle into its stride”

New Law meets Big Four – Has Deloitte got the conviction to match its free-thinking legal pitch?

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New Law meets Big Four – Has Deloitte got the conviction to match its free-thinking legal pitch?

Thomas Alan asks if Deloitte can find a new angle on legal services

The often cited but seldom-seen legal arrival of the Big Four has long passed into a professional joke, though renewed investment from the major accountancy groups in the last three years has given the debate fresh urgency. But, truly, something must have changed in the wind, as even that traditional hold-out, Deloitte, has signalled its intention to build a significant law presence. Continue reading “New Law meets Big Four – Has Deloitte got the conviction to match its free-thinking legal pitch?”

M&A focus: A sign of things to come? Europe’s deal market ends 2018 with a whimper after a forceful start

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M&A focus: A sign of things to come? Europe’s deal market ends 2018 with a whimper after a forceful start

The ghost of political turmoil did little to hinder deal-doing in Europe in the first half of 2018 but its presence appears to have made itself increasingly felt as the year wore on. With plcs wary of major investments ahead of the threat of mounting Brexit-related convulsions, not to mention a mainland European economy that lost some pace through 2018, it was an uneven run for corporate takeovers.

Globally, the latest figures from Mergermarket show the volume of deals completed in 2018 fell for the first time since 2010 to 19,232, after a decade of steadily rising. However, if overall activity was subdued, there was more cause for cheer with marquee deals; average deal value rose to $384.8m, the second-highest value on record, falling just short of the $400.3m notched up in 2015. Continue reading “M&A focus: A sign of things to come? Europe’s deal market ends 2018 with a whimper after a forceful start”

Whatever happened to PRIME? – Drift sets in for once lauded diversity project

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Whatever happened to PRIME? – Drift sets in for once lauded diversity project

Thomas Alan assesses the initially lauded, now forgotten social inclusion initiative

‘Forgive my ignorance, can you tell me what you mean by PRIME? What is it exactly?’ asks one partner at a top-25 UK law firm, a partner charged with responsibility for overseeing apprenticeships at a firm with membership to that same cross-industry group. Continue reading “Whatever happened to PRIME? – Drift sets in for once lauded diversity project”

Still more promise than delivery but Paul Hastings shows signs of progress

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Still more promise than delivery but Paul Hastings shows signs of progress

Thomas Alan assesses the fortunes of the US giant after a (relatively) expansive 2018

Paul Hastings’ recent London history could be seen as a story of tempered ambitions. In the mid-2000s, the firm talked about hitting 200 lawyers in the City, while in 2012 the hope was to be at around 140 lawyers by 2016. With lawyer headcount only reaching 100 this year, it is clear that those lofty ambitions are hard to realise. However, between 2012 and 2017, the firm’s City headcount increased by 78%. If you aim high, falling short does not mean disaster. Continue reading “Still more promise than delivery but Paul Hastings shows signs of progress”

Legal tech focus: Slaughters’ tech ally Luminance makes impact but battle for City elite wages

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Legal tech focus: Slaughters’ tech ally Luminance makes impact but battle for City elite wages

Luminance has shot to prominence unlike any other UK legal tech start-up. But Hamish McNicol finds there is still plenty to do to break into the top of the profession

‘We’re changing things to the extent Excel changed the way accounting is done,’ Luminance chief executive Emily Foges proclaims. ‘You can’t imagine doing anything financial without it.’ Continue reading “Legal tech focus: Slaughters’ tech ally Luminance makes impact but battle for City elite wages”