I’m not a big fan of comparing law firm mergers to marriages. All those torturous metaphors and incongruous imagery. But in assessing the three-year old union between Lovells and Hogan & Hartson, it’s hard to escape the nuptial motif. The deal was forged amid high expectations and a simple analysis: both firms were better off together as neither looked compellingly positioned for an emerging elite of global law. Putting together a transatlantic merger of equals with two large firms that ranked just below the top tier in their respective markets made sense and was arguably a first for the profession. Continue reading “Comment: Hogan Lovells was right to get hitched. It needs to remember that”
Looking for answers: Field Fisher considers near-shoring as part of strategy review
After a turbulent year that has seen Field Fisher Waterhouse attempt a number of mergers and seen it unveil disappointing financial results, the firm is facing its issues head on, including looking at moving certain London support functions to Manchester as part of an ongoing strategy review initiated by managing partner Michael Chissick on his appointment in February this year.
If the move goes ahead, some non-legal roles such as IT and secretarial could be moved to Field Fisher’s seven-lawyer Manchester base in a bid to cut costs. Continue reading “Looking for answers: Field Fisher considers near-shoring as part of strategy review”
Strategic review: Eversheds introduces new sector focus as practice heads replaced
Eversheds has shaken up its sector focus as part of a series of measures introduced by management to adapt to changing client demand and the increased globalisation of legal services.
Following a three-year strategy review unveiled by chief executive Bryan Hughes in July last year, the top 10 UK firm is focusing heavily on increased integration and branding between its international offices and has this month created four new global sectors. Continue reading “Strategic review: Eversheds introduces new sector focus as practice heads replaced”
Few are chosen – is partnership still worth the contest?
Partnership prospects continue to decline in a gloomy economy, while UK law firms are increasingly promoting abroad or associates hired from other firms. Legal Business investigates whether the odds of making partner make it still worth the contest
When a trainee joins a firm, aspirations are high and the road to success is inviting. The route is mapped out from the start – train at the firm, become an associate, rise up the ranks to the ultimate goal – partnership. Sounds perfect.
Continue reading “Few are chosen – is partnership still worth the contest?”
Guest post: Forget Dewey – what you need to be assessing on strategy and partner pay
Law firm managers who are planning large-scale, hubristic expansion-by-acquisition should study the Dewey & LeBoeuf morality play very closely. The rest of us should not. It’s a distraction that diverts attention from what matters closer to home.
Permit me to analogise: those of us who are dealing with the daily stresses and strains of keeping a marriage healthy could, I suppose, closely study the example of Tiger Woods as a way of understanding how marriages fail in a spectacular explosion of adultery. Continue reading “Guest post: Forget Dewey – what you need to be assessing on strategy and partner pay”
Comment: Things I would have said about the future of law if I hadn’t forgotten my notes
I was recently asked to speak on a panel debate for Georgetown Law at Freshfields Bruckhaus Deringer’s City office to discuss the big issues facing the profession. As the panel’s host, Freshfields managing partner Ted Burke, sent the speakers some outline topics and questions beforehand, I sketched out some points to help order my thoughts.
Paul Hastings: Paul Who?
Ronan O’Sullivan joined the small London operation of Paul Hastings as a senior associate seven years ago; now he’s running the office. LB meets the man with plans to give the top-30 US firm the success it craves on this side of the pond
Paul Hastings’ Ronan O’Sullivan is an ambitious soul. Described by peers as ‘punchy and hard-charging’, the firm’s slick and charismatic London chair talks confidently about doubling the office’s 50-lawyer headcount in the next five years.
‘I think we’ve got to the stage in London where we are part of the community. We are doing very high-end work. The challenge for us is the next five to seven years,’ says O’Sullivan. ‘Doubling in size; that would be our expectation.’
It’s all in a name: why branding matters
Over the past few months CMS Cameron McKenna’s managing partner Duncan Weston has been on a charm offensive. Through lunches and presentations, he has been trying to convince the legal press that the European-wide CMS network is not just a disparate alliance, but is in fact one firm, no different to, say, Norton Rose or Squire Sanders.
Trowers unveils new strategy as Adlington bows out
Trowers & Hamlins senior partner elect Jennie Gubbins has told LB that she is looking to raise the firm’s corporate profile in the City and repair its ailing international offering after a bruising few years.
The firm’s current senior partner, Jonathan Adlington, has announced that he will be retiring next year. Gubbins, currently head of corporate at the firm, will replace him in March 2013.
Continue reading “Trowers unveils new strategy as Adlington bows out”
Making Headlines
General Pinochet, Nick Leeson and Ian Maxwell are all former clients.
More recently, Rebekah Brooks and UBS rogue trader Kweku Adoboli have called in Kingsley Napley for help. LB speaks to managing partner Linda Woolley about a firm where the clients make the front pages.
The reception area at Kingsley Napley’s offices in Clerkenwell very much reflects the character of the firm. It’s small, but big enough to serve its purpose. It lacks the ostentation of many City rivals but isn’t too Spartan either. In fact, it’s just about right. Kingsley Napley hasn’t gone for the wow factor, which is probably just as well. Unlike some of its larger City neighbours, many of the firm’s most high-profile clients won’t ever step foot inside its office.