Legacy SJ Berwin on the brink as global managing partner stands down
Persistent troubles at King & Wood Mallesons’ (KWM) beleaguered European arm came to a head in November as the partnership, which is carrying more than £30m in debt, failed to get a deal over the line to recapitalise its business. As Legal Business went to press, the firm was assessing its options for a merger or pre-pack administration deal. It was understood that a shortlist of potential suitors had been drawn up.
King & Wood Mallesons‘ European arm has failed to complete its planned recapitalisation programme, which was paused last month after a number of partner departures. Continue reading “King & Wood’s European recap programme fails as firm considers options”
Dentons will cut around 25 UK roles as part of the launch of a new shared services centre in Warsaw.
King & Wood Mallesons’ (KWM) European partnership chose two new leaders last month, electing corporate partners Tim Bednall and Michael Cziesla as managing and senior partner for the legacy SJ Berwin practice.
The elections were triggered by the early retirements of managing partner William Boss and senior partner Stephen Kon, who return to full-time fee-earning, and come amid a turbulent 18 months for the Global 100 firm. The new leaders take their posts after the firm has missed profit distributions, seen global revenues fall, made a cash call and has been forced to restructure the partnership, with 24 legacy SJ Berwin exits.
Nabarro is to lose its seat in the five firm Broadlaw Group as a consequence of its merger plans with CMS Cameron McKenna and Olswang.
Continue reading “Nabarro drops out of European alliance as three-way merger talks continue”
The first week of October brought with it several continental appointments at Simmons & Simmons, Dentons and Bird & Bird, while Clyde & Co and Trowers & Hamlins expanded in London.
Partners asked for between €6m and €7m to cut debt.
The European arm of Dentons has made a capital call on partners to raise an additional €6m to €7m in a move to cut bank debt, described by European chief executive Tomasz Dabrowski as ‘good financial prudence’.
European partners – excluding the UK which operates as a separate legal entity – have each been asked to contribute up to €100,000 extra over a two-year period.
Continue reading “‘Good financial prudence’: Dentons’ European arm makes cash call”
King & Wood Mallesons (KWM) announced today (4 October) that Tim Bednall was elected as EUME managing partner, defeating Gareth Amdor in a two-man race for the position.
Continue reading “Former Mallesons chair takes out KWM European managing partner election”
After extending the nomination period by a week, King & Wood Mallesons (KWM) confirmed today (28 September) that tax partner Gareth Amdor and corporate partner Tim Bednall are the two candidates for the firm’s European and Middle East (EUME) managing partner position.
Continue reading “Tax vs corporate: KWM European managing partner contenders emerge”
After a bruising 18 months for King & Wood Mallesons‘ European and Middle East business, regional senior partner Stephen Kon has informed the partnership he will step down as senior partner halfway into his three-year term.
