Linklaters’ New York office is on a lateral hiring spree by its own standards, with the Magic Circle firm following up its first US lateral in two years with its second in a week.
The US disputes outlook – After the feast
US disputes lawyers are seeking their next hunting ground as the wave of financial crisis litigation nears its end. Legal Business asks what the next big prize will be.
‘I remember a science class in high school where I watched a snake swallow its prey. Its body became distended where the food was stuck, before moving slowly towards the end of the snake. That’s where we are with the financial crisis litigation. We are really getting towards the end of the snake with all these cases.’ So says Gibson, Dunn & Crutcher’s New York co-head and former global co-chair of litigation, Mark Kirsch, summing up the disputes market in Manhattan today.
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Linklaters makes first US lateral hire in two years with Baker’s New York litigation chief
Linklaters has made a statement of intent in New York by hiring Baker & McKenzie’s Manhattan litigation head Douglas Tween, its first lateral hire in the US in almost two years.
Deal watch: Corporate activity in July and August 2015
PEARSON TURNS TO FRESHFIELDS ON SUMMER FT AND ECONOMIST SELL-OFF
Freshfields Bruckhaus Deringer advised Pearson twice over the summer. The publisher sold the Financial Times to Skadden, Arps, Slate, Meagher & Flom client Nikkei and split its 50% stake in The Economist Group between Macfarlanes client and co-shareholder Exor, while Linklaters acted for The Economist.
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‘We are determined to re-build’: Ashurst brings in ex-Goldman banker to revive US structured finance team
Following the recent blow of a nine-lawyer team walkout from Ashurst’s US offices, the Anglo-Australian firm has hired former managing director at UBS Securities Eric Bothwell to boost the firm’s New York-based collateralised loan obligation (CLO) practice.
Freshfields targets US and Asia for two more business service hubs amid plans for 24/7 legal support
After taking the decision to move back-office staff out of its London headquarters to Manchester in a nearshoring exercise, Freshfields Bruckhaus Deringer is taking the low-cost support model to new heights as it looks at potentially opening two further support outposts in Asia and the US to provide 24/7 legal support.
Clifford Chance’s New York office loses corporate duo to Greenberg Traurig
Clifford Chance’s (CC) ambition to build its New York office have suffered a setback with the loss of M&A duo Ivan Presant and Joseph Cosentino to US firm Greenberg Traurig.
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Listing in London – King & Spalding carries US biotech to AIM listing
King & Spalding’s recent recruits in the City have helped handle Californian biotech company Verseon £300m stock market listing in London while Covington & Burling advised from San Francisco.
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‘There is no end point’: Dentons’ expansion continues with US outfit McKenna Long and White & Case Budapest team
Having already announced a mammoth combination with Chinese firm Dacheng under a Swiss verein structure this year, Dentons bolstered both its US and CEE capabilities last month by combining with Atlanta-based McKenna Long & Aldridge and hiring a 50-strong team from the Budapest office of White & Case.
Dentons had been scoping the market for a US combination for some time, and previously attempted to tie-up with McKenna Long in 2013 – though that was unsuccessful after partners at both firms rejected the move. This time, Dentons chief executive Elliott Portnoy said events ran more smoothly than had been widely reported. ‘The conversation moved with substantial speed; in 2013 we weren’t able to bring it to a final closure. It’s common for them to begin and unfold over a number of years but fade before a deal can be done. You need a high level of alignment around strategy.’
Building the team: Withers boosts Connecticut office with 11-strong hire from US outfit
After undertaking a signifcant push into the Asia-Pacific market since the start of this year, Withers has now enhanced its corporate, litigation and IP law capabilities in the US with the hire of an 11-strong team, comprising five partners and six lawyers, to its Greenwich, Connecticut office.