‘Whilst we’re very much plugged into the global firm and there’s lots of synergies and certainly a very clear industry focus, we have a strong domestic client base.’ Ajay Pathak, Goodwin
As part of our annual Global London report, management at US firms in London give their views on today’s market challenges
‘AI has not significantly changed the day-to-day operations of law firms. The emphasis is on staying alert and staying informed about ongoing developments.’ Didier Martin, Bredin Prat
As part of our annual Euro Elite report, management at independent firms in Europe give their views on today’s market challenges
So much ink has been spilled over game-changing developments in recent weeks – namely the partnership vote in favour of the A&O Shearman deal, and Paul Weiss’ assault on the talent pools of the Square Mile – that it can be difficult to find an angle that isn’t hackneyed to within an inch of its life.
Nevertheless, a ring around senior contacts for a different take paid dividends, even if some of the suggestions are more about playing devil’s advocate and mischief-making. Continue reading “ChatGPT has drunk the Kool-Aid on A&O Shearman – let’s see what it makes of Paul Weiss”
A glance at our Legal Business 100 table this year shows the post-Covid, frothy corporate market conditions have finally come to an end. The significant number of red, downward pointing arrows for profit metrics in particular means the leaders of the top 100 firms by revenue in the UK have reason to be nervous.
The choice of a music chart theme for our report is no accident – this year has seen more movement up and down the table than there has been since the pandemic hit hard. Continue reading “Silence is not golden as Legal Business 100 firms need a different tune”
Chatting with a male managing partner recently about – what else – the hire of Kirkland’s debt superstar Neel Sachdev into Paul Weiss in London, talk eventually turned to the Barbie movie (obviously).
With the managing partner intending to see the film soon, I ask him to report back on whether he thinks its messaging is as anti-male as many critics have suggested. His reaction? ‘Isn’t it about time something was not all about how great men are, for a change?’ This is an interesting point, and segues us nicely into our cover feature this issue on the City’s standout women dealmakers, five years on from our influential ‘Alphas’ analysis. Continue reading “Women deal stars prove you can have it all – but don’t worry men, you are Kenough”
‘Paul Weiss hasn’t got enough partners in London for doubles ping pong!’ scoffed a senior source at the beginning of August when it emerged that the Wall Street powerhouse had lost its City managing partner, Alvaro Membrillera, to Kirkland & Ellis.
What a difference a few short weeks make. While the political skirmishes inside Kirkland that prompted the exit of private equity star Roger Johnson can only be guessed at – and, ringing around the market, there is no shortage of such rampant speculation – what followed has been nothing short of extraordinary. Continue reading “Paul Weiss’ hire of Kirkland rock star is the shake-up we didn’t know we needed”
‘Firms have to be flexible and acknowledge they may have fantastic senior associates who want to put their partnership ambitions on hold for a few years while they have a family.’ Isabella Roberts, Simmons & Simmons
Following on from our Alphas 2.0 feature, we ask female deal stars to talk about the challenges they have faced and still plague the industry today
As we go to press on Legal Business’ third annual ESG report, the data points gathered on firms’ ethnicity and gender diversity make for disheartening reading, not least because they are entirely predictable in their lack of substantive progress from last year.
In truth, the continued lack of engagement on diversity data as part of our ESG survey among many of the top 25 Legal Business 100 and top 25 Global London firms is wearing a little thin now. Continue reading “Big Law’s diversity stats remain uninspiring – time to revisit the problem of social mobility”
The most enjoyable part of analysing the proposed merger of Allen & Overy (A&O) and Shearman & Sterling has been hearing the reactions of leaders at peer firms to the video featuring senior partners Wim Dejonghe and Adam Hakki.
Hot-takes from around the City have been often amusing. Says one US firm leader: ‘It’s clearly not a merger, is it? It’s a takeover of Shearman by A&O, isn’t it?’ And it certainly does feel like A&O’s Dejonghe is in the driving seat of what is undeniably a slick pitch, even if it does, at times, look like Hakki is in a hostage situation. Continue reading “A&O Shearman is a marriage of necessity, not convenience”
‘I’m of the view that there’s no such thing as an ESG lawyer. What we can do, by educating the trainees as they come in, is help them to understand ESG, so that it can permeate their practices throughout their careers.’ Rachel Richardson, Macfarlanes
On the back of our third annual ESG report, key decision makers share their perspectives on key issues affecting law firms
