5 May 2008
The Lawyer
People
Move of the week: Clifford Chance global head of oil and gas Bleddyn Phillips is to move from the firm's London office to its Moscow office. Phillips, who has been travelling extensively between the two capitals for the past four years, will remain in his current position. His move is part of ...
20 Essex Street trio seeks Lords hearing on Yemen oilfields dispute
A trio of barristers from 20 Essex Street is seeking to overturn a 2006 Court of Appeal ruling in the battle over a $55m (£27.83m) share of revenue in the oilfields of Yemen.
A&O elects joint banking heads
Allen & Overy (A&O) has elected Stephen Kensell and Andrew Trahair as joint managing partners of its banking practice. The pair was formally voted in on 30 April. Both were originally partners in the firm's banking practice. Kensell and Trahair take over the position from Christopher Rushton, who is rejoining theprojects team. Michael Duncan will continue as chairman of the global banking ...
A&O freezes associate salaries
Allen & Overy (A&O) has frozen associate salaries, completing the round of conservative salary reviews among the magic circle this year.
Arnold & Porter snares WilmerHale London employment chief
Arnold & Porter has snared WilmerHale’s London head of employment to launch its own employment team in the UK.
Ashfords lures partner from rival Burges Salmon
Ashfords has boosted its Bristol office with the appointment of commercial litigation partner Andrew Baines.
Ashurst names first risk management head
Ashurst has appointed litigation partner Chris Vigrass to the new director of risk management post.
Ashurst turnover up 17 per cent
Ashurst turnover up 17 per cent" /Ashurst has boosted turnover 17 per cent soaring through the £300m mark with a record turnover of £323m.
Asia: The battleground in Asia
Arguably the most transformative recent events in the Asian legal market have come from the hungry pack of those challenging the Sweet Sixteen. Mayer Brown’s December 2007merger with Johnson Stokes & Master (JSM) and Reed Smith’s capture ...
Back to life
Despite the credit crunch, the offshore funds industry is still strong as lenders and investors perceive the value in the private equity approach. By Martin Paul
Bakers hikes business development nous
Baker & McKenzie has appointed Marco Smith as its director of business development for Europe and the Middle East.
Bantam of the opera
Lawyers are generally an amiable bunch, but Tulkinghorn has learnt that you anger them at your peril. Opera singer Erwin Schrott is busy learning this essential lesson after backing out of the Rosenblatt Recital Series run by gentlemanly deal-maker and lawyer Ian Rosenblatt.
Bevan Brittan imposes lock-in on partnership
Bevan Brittan has vowed to improve its cashflow as it reinforces a partnership agreement.
Big news in little Watson Burton
Watson Burton" / As reported on The Lawyer.com (1 May), Newcastle-based Watson Burton has taken over Surrey-based Trevor Robinson & Co.
Bond Pearce handles Whitbread logistics deal
Bond Pearce has advised Whitbread on its decision to outsource its logistics and food warehousing services to Kuehne + Nagel (KN).
Brown Rudnick adds to London presence
US firm Brown Rudnick made its second partner hire of the year with the addition of the former head of Nabarro's private equity team Roger Gregory.
Browne Jacobson hits record turnover
Browne Jacobson has announced fee income of £35m - its highest yet. The figure grew by 10 per cent from last year's £31.9m. In the previous year it grew by a modest 6 per cent. In addition to growth in business services and property, there were client wins for the insurance and public sector departments, with the Welsh Assembly, Mitsui Sumitomo Insurance and the Health and Safety Executive all ...
CC associates face anxious wait for news on salaries
Clifford Chance's City associates are waiting on tenterhooks for news of the firm's salary hikes after rates were capped in Italy.
Cheap lunch? No Chance
Cheap lunch? No Chance 09-May-2008 Life's tough for Clifford Chance associates nowadays. First, they were berated by their boss for hanging around the office all evening just to get a free taxi home.
Clifford Chance bags White & Case partner for Prague
Clifford Chance has beefed up its Prague office with the hire of White & Case partner David Kolacek.
Clifford Chance shores up Far East
Clifford Chance shores up Far East" /Clifford Chance has moved to strengthen its Far East presence with the relocation of London partner Geraint Hughes to Hong Kong and the hire of a Norton Rose partner in Singapore.
Clifford Chance ups salaries to match rivals
Clifford Chance ups salaries to match rivals" /Clifford Chance has raised its London newly qualified solicitor (NQ) salaries by almost 5 per cent to £66,600 per annum from £63,500, outstripping NQ salary increases at magic circle rivals
College of Law scoops Weil LPC mandate
US firm Weil Gotshal & Manges has signed up the College of Law to run its LPC+ course for it future trainee solicitors starting in September 2009.
Corporate: The M&A elite
When The Lawyer published the financial results of the top 50 US law firms on 24 March, it confirmed what most people already suspected: transactionally, 2007 had been over the top.
Cracking Brazil
Brazil's economy is going global and interest in the benefits of offshore business is hotting up. By Marco Martins
DAC raids Clydes for Latin America push
Davies Arnold Cooper (DAC) has recruited a new international chief from Clyde & Co as it seeks to ramp up its Latin America practice.
Davis Polk selects first UK partner for management committee role
New York-based Davis Polk & Wardwell has elected London-based partner Tom Reid to the firm's three-member management committee.
Digital sage
Judges are a modern sort, with their hip white wigs and trendy flowing robes. None more so than Lord Justice Aikens, who managed to weave references to a judgment from 1596 and Web 2.0 into one speech.
DLA Piper brings in ex-SFO boss
DLA Piper has snared former Serious Fraud Office (SFO) director Robert Wardle.
Duane Morris in litigation shake-up
US firm Duane Morris has overhauled its litigation strategy to target seven key practice areas, including IP and insurance.
Equity stakes
One thing that has remained constant amid the changing face of offshore jurisdictions is Guernsey's ability to operate effectively within the private equity arena. By Andrew Boyce
EU Parliament overhauls lawyers lobbying code
The European Parliament has agreed to amend its lobbying guidelines to distinguish between political petitioning and giving legal advice.
Eversheds brings in RJW Manchester fraud head after duo quits for Crowell & Moring
Eversheds has raided Russell Jones & Walker (RJW) for its Manchester fraud head Neill Blundell.
Eversheds gets e1m integration boost
Eversheds has been given the thumbs-up by its international board to invest €1m (£780
Field Fisher relaunches construction team
Field Fisher Waterhouse (FFW) has snared a three-lawyer franchising team from Eversheds and relaunched its construction practice.
Finance: The finance kings
For UK and US firms, becoming transatlantic powerhouses is crucial to the development and success of their global networks. With firms such as White & Case using its London - New York axis to build and support its many global offices, it is clear that being successful in both financial centres is critical.
Fladgate scoops up Gordon & Co
West End-based Fladgate has acquired two-man boutique Gordon & Co to ramp up its corporate practice.
Flexible friends
With a significant rise in restructuring activities forecast for 2008, there are compelling reasons for making use of offshore vehicles. By Robert Duggan
Flight path
Having long been a preferred jurisdiction for aviation holding companies, the BVI is now branching out by offering aircraft registration. By Robert Briant
Focus Steve Weiner, BLP
Not many people in the legal profession juggle their day job with a career as an award-winning stand-up comedian. But for BLP trainer Steve Weiner, it’s all in a day’s work
Food next to go as Clifford Chance tightens belt
Clifford Chance tightens belt" /Clifford Chance has slashed its staff canteen subsidies and cut the opening hours of its deli and restaurant, in the latest cost-saving measure at the firm.
Freshfields ups associate salaries by 2 per cent
Freshfields Bruckhaus Deringer has raised its associate salaries by an average of 2 per cent, falling just short of the rises seen at magic circle rival Linklaters.Tra
Freshfields, OC and Simpson in $1.1bn Best Buy tie-up
Freshfields Bruckhaus Deringer, Osborne Clarke and Simpson Thacher & Bartlett scooped lead roles on the transatlantic Carphone Warehouse and Best Buy joint venture worth $1.1bn.
Fujitsu Emea legal head joins SJ Berwin
SJ Berwin has enticed Fujitsu Services head of legal for Europe, the Middle East and Africa (Emea) to return to private practice.
Government lobbying must be out in the open
Following a three-year battle the Information Tribunal has ordered the Government to disclose previously secret records of industry lobbying by the Confederation of British Industry (CBI). The tribunal's decision sets an important marker for the way that requests for lobbying materials should be treated in the future.
Halliwells selected by digital media company over sale
Halliwells has won a role on the sale of digital media agency Greenroom Digital thanks to its contacts with financial advisers Fisher Corporate Finance.
Hammonds goes large with a 9 per cent partnership hike
Hammonds has made the largest proportion of promotions to the partnership this year, analysis by The Lawyer has revealed.
Hammonds makes LLP switch
Hammonds converted to a limited-liability partnership (LLP) on 1 May. The conversion includes the firm's UK, Belgian and Spanish offices, with the German offices in Berlin and Munich joining today (5 May). Hammonds' conversion follows Gide Loyrette Nouel's London office announcing its conversion on 29 April.
Happier endings
When Cayman hedge funds collapse, there are several options available to investors.
HBJ Gately Wareing secures shipping merger
HBJ Gatelely Wareing is set to merge with niche shipping and transport firm Holmes Hardingham.
Herbies on course to break £400m barrier
THE UK's leading firms are expecting a record year as the first indications of financial results trickled through.
Introducing the Sweet Sixteen
When The Lawyer published the Global 100 in 2006, ranking the world’s largest law firms in order of revenue, a total of 17 UK-headquartered firms made the grade.
IP boutique bags A&O IP chief
IP firm Rouse Legal has boosted its partnership with the hire of the head of Allen & Overy's intellectual property group.
It's a shore thing
From its inception the Dubai International Financial Centre was focused on becoming a leading onshore centre. Now new regulations on 'exempt companies' aim to offer a viable alternative to offshore activity.
Junior heavyweights
Can you still make money out of AIM? Mid-market firms say yes
Junior lawyers seek alternative mentors
The Law Society's Junior Lawyers Division (JLD) is seeking senior lawyers and partner volunteers to adopt younger lawyers.
Lawyers mourn barrister shot by police
Family lawyers have expressed shock at the death of Mark Saunders, who was killed in a shoot out with police last night (6th May) in London’s Chelsea neighbourhood.
Like for like
Offshore jurisdictions have traditionally made the most of their differences when competing for business. But a move towards greater alignment could be about to change all that.
Links loves New York
My favourite current rumour is the one of merger talks between Linklaters and Sullivan & Cromwell. As always, Linklaters is cast as the supplicant. It's a bit of a hardy perennial this one, rooted in the firms' once-close working relationship. After Linklaters absorbed a bunch of Continental firms in ...
Lovells launches CEE 'Flying Squad'
Lovells has launched a Central and Eastern Europe (CEE) referral programme among its best friend firms.
LSA paves way for senior non-legal rolesHR Focus
For non-legal staff, career progression within firms can be restricted by the profession's ban on them joining equity partnerships. But under the Legal Services Act (LSA), plans are afoot to overhaul these regulations.
Magic circle flies in for syndicated loan talks
Magic circle partners gather for New York summit on the crisis in the US and European syndicated loan market.
Mars is sweet on simpson thacher
Simpson Thacher & Bartlett has won the lead role for Mars on its $23bn (£11.63bn) bid for Wrigley in a deal that will create the world's largest confectionery company. Previously Mars has turned to Skadden Arps Slate Meagher & Flom for M&A advice. On this deal Skadden is ...
Michelmores
Michelmores" /Since opening a London office in 2006, Michelmores has seen a surge in the number of instructions it receives from national and international clients.
Middle East: The rise of the Middle East
The Middle East has long been a hotbed of legal activity for the world’s most international law firms. For years the status quo was largely that US firms had the monopoly in Saudi Arabia, with energy and projects firm taking the lead, while UK firms dominated in Dubai.
Movers and shapers: Ten who will shape the transatlantic market
Top-tier and mid-tier firms alike will play their part in helping to form the transatlantic legal market; indeed, hiking consolidation in the upper mid-tier may mean that those firms will create momentum in this space.
New chief spearheads Macfarlanes' LLP switch
Macfarlanes will join a growing band of law firms by converting to limited-liability partnership status.
Northern Rock shareholders launch JR against govt
Former shareholders in nationalised bank Northern Rock have today (8 May) applied to launch a judicial review claiming the Government's proposed compensation package is inadequate.
Northern Rock showdown: It's Grabiner vs Beloff and Pannick
Government lines up One Essex Court star Lord Grabiner QC to defend it against a group of Northern Rock shareholders and hedge funds.
Norton Rose competition team in Hong Kong transfer
Norton Rose has transferred a seven-strong competition team from Brussels and London to Hong Kong.
Offshore
As the offshore legal profession evolves so does its reach into new jurisdictions. In the second of The Lawyer's Offshore Special Reports in 2008, experts discuss the latest developments, including news from emerging offshore countries.
Opening the cashbox
For public companies in the UK wanting to raise money, the cashbox structures that Jersey excels in carry a number of advantages. By Jonathan Walker and Brian Scholfield
Orrick London ups restructuring capability with raid on Hunton
The City office of Orrick Herrington & Sutcliffe is the latest firm to ramp up its restructuring capabilities.
Osborne Clarke promotions halved
Osborne Clarke has promoted four lawyers to the partnership, a significant drop on last year’s total of eight.
Paul Weiss appoints new chair
New York-based Paul Weiss Rifkind Wharton & Garrison today (9 May) unveiled its new chairman and successor to longstanding incumbent, Alfred Youngwood.
Premier League picks DLA Piper for IP clash with pubs
DLA Piper has scored the lead role acting for the FA Premier League in a dispute with a group of UK pubs over the broadcasting of football?matches.
Promotion and hire add two to ranks of Wiggin partnership
Media boutique Wiggin has added two new partners, promoting one and hiring the other from Bristol firm Veale Wasbrough.
Revealed: lawyers' dirtiest habits
A survey of lawyers on office etiquette revealed that eating a colleague’s food from the fridge or their desk is the worst offence one could commit in the workplace.
Rocky road: Andrew Whittaker, Finanacial Services Authority
Financial Services Authority GC Andrew Whittaker has been kept very busy of late. Just don't mention Northern Rock. By Margaret Taylor
Sackers partners hit £1m profit mark
Plateau partners at pensions boutique Sacker & Partners pocketed just more than £1m during the 2007 calendar year.
Salans sets up German desk in Hungary with Nörr hire
Salans has boosted its Hungary arm with the hire of Nörr Stiefenhofer Lutz partner Andreas Köhler.
Sark attack
A legal challenge being mounted by the Barclay brothers points to serious inconsistencies in the legislation aimed at reforming the Channel Islands' Sark parliament.
Schillings wins Appeal Court victory for author JK Rowling
Media law firm Schillings scored a victory in the Court of Appeal today (7 May), which held that the privacy of client and Harry Potter author JK Rowlings’ five-year-old son had been infringed.
Separated at birth
she was 14. Tulkinghorn applauds her achievements, which have been rewarded with a place in the Great Britain senior women's squad this year in preparation for the European Championships.
Shearman production team faces redundancy
Shearman & Sterling’s entire day-time document production department faces redundancy as the firm develops a career path of its secretarial role.
Simmons' construction head quits for HBJ
Simmons & Simmons head of construction Robert Bryan has exited the firm for HBJ Gateley Wareing.
Simmons finds allies in the US
simmons & SimmonsLitigation group buddies up with firms statesideThe London litigation group at Simmons & Simmons is looking to broaden its US referral network following a beefing up of the corporate crime team at the City firm.
Simmons promotes 18 to partner; most since 2004
Simmons & Simmons has announced a bumper promotions round the day after releasing record financial results, with 18 new partners making the grade.
Simmons to tip £600,000 PEP mark
Simmons & Simmons has become the second large City firm to release financial results for 2007-08, announcing an increase in turnover of 16 per cent.
SLCC chief quits pre-consultation
The Scottish Legal Complaints Commission (SLCC) has lost its interim chief executive just as it launches a consultation on its proposed rules.
Sovereign wealth: Elite clients for elite firms
Big-ticket private equity deals may be gone for now, but last year a raft of sovereign wealth funds from Asia and the Middle East began pumping money into foreign investments, providing much-needed cash injections amid the ongoing credit squeeze.
Squire Sanders re-launches Kiev after raid on former ally
Squire Sanders & Dempsey has relaunched its own office in Ukraine, after taking an eight-lawyer team from its former local ally The Silecky Firm.
Step change
As more funds take up the option of changing trustees, the Society of Trust and Estate Practitioners has published guidance to clear up some grey areas.
Take AIM…
Offshore-led listings have seen a slowdown, but the game is not over yet, says Daniel Mackelden
Takeover becomes S&N legal chief's swan song
Scottish & Newcastle (S&N) general counsel and company secretary Peter Kennerley has been made redundant
Tax attacks
Is successfully prosecuting tax evaders reason enough for one state to ride roughshod over the laws of another? asks Steve Georgala
That petrol emotion
Tulkinghorn prefers a pleasant drive in the country (chauffeured of course) to tearing round a race track in something better equipped for space travel than road travel.
The Apprentice analysed...
Each week we watch as Sir Alan Sugar yells 'YOU'RE FIRED!' at one of The Apprentice wannabes.
The contenders: The chasing pack
In April this year the online US law firm merger tracking service hosted by legal management consultancy Altman Weil reported 17 acquisitions in the first quarter of 2008.
The Lawyer in New York: Home Boies
When you think of a top New York law firm dead set against international expansion (at least officially), most people would say 'Wachtell'. But there are others.
The offshore puzzle
A constantly shifting regulatory backdrop is making it harder than ever to say what makes a jurisdiction offshore, reports Katy Dowell
The Transatlantic Elite
Thompsons merges with Whittles
Personal injury (PI) powerhouse Thompsons has taken over eight-partner firm Whittles, which has offices in Leeds and Manchester. Both firms specialise in PI, trade union work and employment rights. Two of Whittles' three equity partners, Julie Blackburn and Chris Strogen, will join Thompsons' partnership, while David Towler will work as a consultant.
To Russia with love
Clifford Chance global head of oil and gas Bleddyn Phillips is moving to Moscow (see page 16). Joint global head of energy Andrew Grenville's assertion that the move is motivated by the firm's desire to target a "rapidly developing market" may sound a little axiomatic, given that Russia practically invented making money out of gas.
Travers partnership promotions halved
Travers Smith has slashed its number of new partners by more than half, making up four associates after nine in last year’s round.
Watson Burton takes over IT boutique
Watson Burton has acquired two-partner firm Trevor Robinson & Co. The Surrey -based IT commercial boutique was described by Watson Burton strategy partner Gillian Hall as "punching above their weight". She added: "They're ex-Linklaters and ex-Coward Chance, have a hugely impressive client list and are supremely ...
Web week
The Lawyer's Web Week is a weekly commentary on legal activity on the web. This includes an overview of the best of the week's blogs. If you want to direct us to useful links, email webweek@thelawyer.com.
WFW forges ahead with Italian growth as Milan office opens
Watson Farley & Williams (WFW) is expanding its Italian presence with the launch of a new office in Milan.
Why a code of conduct for hedge funds is good news
Six weeks ago, shortly after shares in HBOS plunged by 17 per cent in one day, the Financial Services Authority took the unprecedented step of attacking publicly the "completely unfounded rumours" spread by a number of unscrupulous investors.
Work Life Quiz: Peter Watson
Wragges turnover falls just short of target
Wragge & Co’s turnover has grown by 11.5% to £125.5m, just short of the £127m that the firm was predicting at the half-year level, as first reported by The Lawyer, 7 November 2007.
