There is a notion in business that is often useful, but rarely observed – the idea of signal and noise, or rather being able to distinguish between the two. The not-remotely-new point I’m making – well illustrated in Nassim Nicholas Taleb‘s not-remotely-new book, Fooled by Randomness – is that in making informed decisions, leaders should endeavour to shut out the ‘noise’ of short-term, rapidly changing information, which is typically near worthless.
Emerging markets M&A down as King & Wood tops league
With the emerging markets continuing to dominate the expansion strategies of many City and international firms, the short term picture remains mixed as the value of M&A activity in the region bucked a global trend by dropping to $125.7bn during the first quarter of 2014, down by 4.7% from $131.9bn compared with the first quarter of 2013. Continue reading “Emerging markets M&A down as King & Wood tops league”
Asia: Latham hires V&E ex China co-head in HK; NRF hires DLA’s Singapore corporate head; Clayton Utz ends HK association
The past week has seen global top three firm Latham & Watkins hire Vinson & Elkins’ former China co-head David Blumental in Hong Kong, as Norton Rose Fulbright (NRF) takes on DLA Piper’s Singapore corporate head Sheela Moorthy and big six Australian firm Clayton Utz ends its association in Hong Kong with Haley & Co. Continue reading “Asia: Latham hires V&E ex China co-head in HK; NRF hires DLA’s Singapore corporate head; Clayton Utz ends HK association”
Q&A with HSF’s new global head of disputes Justin D’Agostino
Justin D’Agostino has taken over as global head of dispute resolution at commercial litigation heavyweight Herbert Smith Freehills. Here the Asia-based lawyer talks to Legal Business about joining the dots of an expanding practice.
What effect will a Hong Kong-based disputes head have on the global practice?
Being based in Asia gives me a good opportunity to be in the middle of it all; it’s a positive from that respect. It will be different having the global head not being based in London but we have very strong local disputes managers in London. I will be joining the pieces across the globe.
Continue reading “Q&A with HSF’s new global head of disputes Justin D’Agostino”
‘Geography seduced everyone’ – is emerging market bias blind-siding your firm?
There is a notion in business that is often useful, but rarely observed – the idea of signal and noise, or rather being able to distinguish between the two. The not-remotely-new point I’m making – well illustrated in Nassim Nicholas Taleb’s not-remotely-new book, Fooled by Randomness – is that in making informed decisions, leaders should endeavour to shut out the ‘noise’ of short-term, rapidly changing information, which is typically near worthless. Instead they should focus on the longer-term, underlying trend, which can be worth a great deal if you can find it.
Such thoughts occurred while reading a recent piece in The Economist that tackles one of the dominant concepts in business over the last two decades – arguably the dominant idea – that western businesses must focus their growth and investment in key emerging economies. As the article ‘Emerge, splurge, purge’ notes, so prevalent has become this orthodoxy that it has escaped any real debate: ‘Corporate strategy is usually a contentious subject: there are fierce debates about how big, diversified or leveraged firms should be. But geography has seduced everyone.’
Continue reading “‘Geography seduced everyone’ – is emerging market bias blind-siding your firm?”
Global office launches for Norton Rose, Quinn Emanuel, Bakers and Jones Day
Global 100 firms embraced foreign expansion again in February. Norton Rose Fulbright (NRF) announced a significant addition to its Latin America footprint with the launch of an office in Rio de Janeiro, hiring BP’s global corporate assistant general counsel (GC) Andrew Haynes as office co-head, while US litigation leader Quinn Emanuel Urquhart & Sullivan set up shop in Brussels, Baker & McKenzie in Myanmar and Jones Day in Perth.
NRF’s new office in Brazil, which will also be run by current head of Colombia, Glenn Faass, will be the firm’s third in the region after Venezuela (Caracas) and Colombia (Bogotá), and its 55th office worldwide.
Haynes joined NRF at the start of February from BP, where as assistant GC global corporate he oversaw all M&A legal work for BP.
Continue reading “Global office launches for Norton Rose, Quinn Emanuel, Bakers and Jones Day”
Asia calling: Bird & Bird launches in South Korea as Taylor Wessing and Allen & Gledhill expand Asia footprint
Bird & Bird has joined a host of international law firms looking to enhance their global footprint with a cooperation agreement in Asia’s fourth largest economy, tying up with South Korean firm Hwang Mok Park (HMP).
Announced today (25 February), the top 20 firm said the aim is to focus on helping clients in industry sectors where technology and regulation are driving change.
Founded in 1993, HMP is acknowledged by the Legal 500 as third-tier in antitrust and competition, banking and finance, corporate and M&A, disputes, employment, and insurance. Continue reading “Asia calling: Bird & Bird launches in South Korea as Taylor Wessing and Allen & Gledhill expand Asia footprint”
Revolving doors: HSF loses Perth mining head to Australian rival
Having completed a crucial overhaul of its management and remuneration structures towards the end of 2013, Herbert Smith Freehills (HSF) would have hoped to get 2014 off to a positive start but has instead suffered another setback, with news that the head of the firm’s mining practice in Perth, Justin Little, will join independent Australian outfit Gilbert + Tobin.
Little will join the Perth office of Gilbert + Tobin in its energy and resources practice. He is a member of the Australian Mining and Petroleum Law Association and has extensive experience advising Australian publically listed mining and resources companies, including BHP Billiton and Rio Tinto, on M&A transactions and equity fundraisings.
Continue reading “Revolving doors: HSF loses Perth mining head to Australian rival”
International expansion: Speechly opens in Paris as Rouse and Tilleke Gibbins launch in Myanmar
The burgeoning Paris market has drawn in another UK name as Speechly Bircham opens in the City while UK IP firm Rouse expands into Myanmar alongside new South East Asian entrant Tilleke & Gibbins, which has also launched in Indonesia and Laos.
Its fourth new European office in two years, UK top 55 firm Speechly Bircham opened today (25 November) in the French capital with an 11-strong team, which will focus on private wealth tax planning as well as corporate and litigation services to private clients, private equity investors and corporates. Continue reading “International expansion: Speechly opens in Paris as Rouse and Tilleke Gibbins launch in Myanmar”
Panel win: Bank of Tokyo Mitsubishi UFJ announces first-ever EMEA line-up
One of Japan’s largest banks, Bank of Tokyo Mitsubishi UFJ (BTMU) today announced its first-ever panel for Europe, the Middle East and Africa, with eight leading City firms appointed as preferred advisers after a process described by the bank as ‘extremely competitive.’
Allen & Overy (A&O), Linklaters and Ashurst won places on BTMU’s preferred panel alongside Berwin Leighton Paisner (BLP), Hogan Lovells, Norton Rose Fulbright, Slaughter and May and White & Case. Continue reading “Panel win: Bank of Tokyo Mitsubishi UFJ announces first-ever EMEA line-up”