7 May 2007
The Lawyer
Dickinson Dees hires three into chemicals
•Newcastle giant Dickinson Dees has hired three new lawyers for its chemical & pharmaceuticals group. Patricia Barclay joins as a consultant from Vanguard Medical Group, now called Vernalis, where she was general counsel, and Alison Moss joins as an associate from Teesside-based Sembcorb Utilities. Simon Stuttaford joins as an assistant from Leuven University, Belgium, where he completed ...
Olswang not a convert to LLP benefits
With a flurry of top City law firms converting to LLP status, the question on many lips is: "Will Olswang ever make the move?"The media (and real estate) giant was one of the first top 100 law firms to register as an LLP in the summer of 2001, but it has yet to go the whole hog and add the three letters after its name.
People
Davey Franklin Jones has promoted Janice Leyland to its partnership in the family law group. At the same time, three lawyers have been promoted to associates: Meryl Atkins, Michael Brady and Stephanie Dawson.
2012 Games prompts mediation groups' tie-up
Former Court of Appeal judge Sir Philip Otton of 20 Essex Street is to chair a new construction mediation panel following the merger of two mediation groups.
3i chooses Travers for Lord Foster coup
Private equity house 3i has turned to Travers Smith in its innovative plan to buy a stake in one of the UK's most famous architecture practices.
A clear carbon strategy will help firms gain sustainability
On 1 May Business in the Community hosted a countrywide summit on climate change. The summit, led by HRH the Prince of Wales, brought together more than 1,000 senior CEOs and business leaders to discuss climate change and the business response to this global issue.
A highly paid Wade in the sea
Regular readers may recall a wave of stories some time back about the City trend for able-bodied men to ditch the suits and climb in the ring. One of the leading proponents of the 'art' of white-collar boxing was one Alex Wade, a former Carter-Ruck solicitor who saw the light and joined the noble ranks of the hack.
A&O does speedy work on canary wharf deal
Allen & Overy (A&O) has advised the lead arrangers on the latest securitisation of the Canary Wharf Estate. The firm advised Morgan Stanley and Lehman Brothers on the £726m tap issue and the redemption of £574.6m worth of existing bonds that are backed by seven properties on the Canary Wharf Estate. Partner David Shearer led the A&O team. The transaction, which completed on 23 April, began at the ...
A&O launches in Saudi with local ally
Allen & Overy (A&O) has ramped up its international strategy today by launching in Saudi Arabia.
Anti-risk list
Derivatives are key in managing the deficits in defined benefit pension funds. Edward Jewitt and Edmund Parker report on the main legal issues
Arthur Cox hikes Belfast with Carson McDowell corporate hire
The Belfast office of Dublin heavyweight Arthur Cox has hired equity partner Alan Taylor from the corporate group of rival Carson McDowell.
Ashurst bonds Euro, London real estate posts
Ashurst has combined its head of European real estate and London real estate managing partner posts into a single role.
Asia restructuring sees Freshfields ditch Singapore for China offensive
Freshfields Bruckhaus Deringer has finally closed its Singapore office, relocating the last two partners to its Hong Kong operation.
Atkin seals lords Construction act first
Atkin Chambers has won the first Construction Act 1996 case to reach the House of Lords with a majority of three to two. The case considered whether provisions that suspend a contractor's entitlement to payment in the event of insolvency fall foul of the Construction Act. Contractor Melville Dundas went into insolvency after making several applications for payment from developer Wimpey. In regard to one application, Wimpey had not issued a valid withholding notice, leading Melville ...
Bar Council forces Legal Services Bill changes
The Government suffered another defeat in the House of Lords in relation to the Legal Services Bill after two amendments put forward by the Bar Council were yesterday (8 May) accepted.
Barristers enticed to take English common law expertise overseas
Three of England's high-profile barristers have decided to make the move to offshore jurisdictions within the past month.
Big firms get in on the act as hedge fund industry grows and matures
Magic circle realises hedge fund worth, but fails to worry traditional players. By Margaret Taylor
Bircham ditches PQE for merit-based system
Bircham Dyson Bell has discarded the traditional use of PQE as the key component in grading solicitors.
BLG hires Lovells associate as a corporate partner
Barlow Lyde & Gilbert (BLG) has recruited Lovells senior associate James Parker as a partner to begin rebuilding its corporate practice.
Briefs keep their briefs to themselves
Eversheds corporate partner Robert Moulton has a pile of soiled men's underpants collecting in his office.
Bristows nets appeal court patent victory
Bristows has secured a win for Unilin in the Court of Appeal after Berry Floor, IMC and B&Q infringed the claimant's patent. The defendants tried to strike out Unilin's patent in the European Patent Office, but will now have to pay £500,000 whether the patent is valid or not. Lord Justice Jacob ruled that patent infringers must pay even if the patent is proved invalid at a later date in the UK or ...
Browne Jacobson turnover ‘disappointing’
Midlands firm Browne Jacobson saw a minimal increase in turnover during 2006-07 with its year-end figure rising just 3 per cent from £30.1m to £32m.
Cannes retreat brings Herbies’ international strategy into focus
Senior partner David Gold’s strategic recommendations were well received at Herbert Smith’s recent partnership retreat, with Cannes-bound partners supportive of proposals for ongoing growth.
CC and Slaughters scoop £8.8bn Thomson-Reuters deal
An elite roster of City and Canadian firms have been drafted in to advise on Thomson’s £8.8bn takeover of Reuters.
CC closes Padua office
Clifford Chance has shut down its seven-lawyer Padua office, the smallest in the firm's network.
CC makes dual raids on A&O and Freshfields
Clifford Chance has made a double raid on its magic circle rivals on the continent, taking a counsel from Allen & Overy and a team from Freshfields Bruckhaus Deringer.
CC scoops three private equity floats in a week
Clifford Chance has acted on a trio of private equity exits, taking all three public via flotation on the London Stock Exchange's (LSE) main market.
CCing is heaving
Tulkinghorn hears that partners at Clifford Chance are getting up close and personal lately.
Charles Russell institutes audit of diversity policy
Charles Russell institutes audit of diversity policy" /Charles Russell has announced the launch of an independent audit of its internal diversity policy. The audit is due to start in the next month.
Charles Russell posts steady turnover rise
Charles Russell has announced a 9.4 per cent increase on last year’s turnover of£58.2m, bringing this year’s figure to £63.2m.
Clerks back CPD but shun pupil pay
The recent Institute of Barristers' Clerks (IBC) conference placed education at the top of the agenda as clerks look to increase professionalism.
Corporate coup for K&L Gates' City office
•K&L Gates has appointed former Farrer & Co corporate tax senior solicitor Peter Davis as a partner in its London office. Davis qualified in 1978 and worked at a number of City firms before joining Farrers in 2004. He specialises in M&A, but also advises on real estate, property fund, banking and asset finance ...
Court head begs for work as litigation downturn worsens
In the strongest indication yet that litigation is on the wane, the Commercial Court has sent a begging letter to chambers pointing out that its judges can be used as arbitrators.
Cravath launches restructuring group with rare lateral
Elite US firm Cravath Swaine & Moore has pounced on Manhattan rival Skadden Arps Slate Meagher & Flom to launch its restructuring practice.
Eversheds Shanghai drafts in Euro lawyers to target Chinese economy
Eversheds plans to fill its new Shanghai office with associates from its European network, with Italian lawyer Marco Vinciguerra the first to make the move.
Financial Services and Pensions
Financial services, or more particularly the Financial Services Authority (FSA), hit the headlines last week after a National Audit Office (NAO) report declared in no uncertain terms that the financial watchdog needs to be better coordinated if the UK is to retain its position as a premier international financial services market.
Financial Services: New tricks
New rules are set to shake the financial services market, giving smaller companies a chance to break into EEA business and set their own agendas. By Tony Woodward
Firms jostle for position on ABN tie-up
A swathe of firms has claimed involvement as the battle for Dutch banking giant ABN Amro intensifies. In addition to Clifford Chance and Sullivan & Cromwell's work on the £45.5bn merger with Barclays, Cleary Gottlieb ...
Firms unwilling to say 'howdy' to Saudi
With some of the largest oil reserves in the world, a huge drive for diversification and a population dwarfing that of the United Arab Emirates, Saudi Arabia is the place to be for firms seeking big bucks in the Middle East. The problem is, their lawyers just don't feel the same.
Former Freshfields partner joins Reed Smith to elevate finance offering
Finance partner Rex Rosales is set to join Reed Smith Richards Butler after announcing his departure from Freshfields Bruckhaus Deringer two weeks ago.
Freshfields names new London banking head
Freshfields Bruckhaus Deringer has kick-started the financial year by installing a new head of banking for its London office.
Growing your own
The growth of owner-managed businesses in the South East has opened up opportunities for law firms servicing the region. By Matt Newman
HBJ boosts property with Hammonds raid
•Anglo-Scottish firm HBJ Gateley Wareing has hired Hammonds property partner Ray Simpson, the fifth partner to leave Hammonds this year. Birmingham-based Simpson leaves Hammonds after 10 years and joins HBJ as a partner. Simpson said: "I've known [HBJ property head] Richard Pettifor for years and we have complementary client bases." Simpson was a salaried partner. He resigned last November prior to a six-month notice period. His client transfers include Midlands-based Hawkstone Properties ...
Health authority set to sue Eversheds
Eversheds" /Eversheds has been dragged in to a healthcare row that could cost the firm more than £300,000 in damages if its client loses a case in the Court of Appeal.
Herbert Smith helps Barnardo's raise funds through enterprise arm
Herbert Smith has worked on a pro bono basis to help Barnardo's set up a social enterprise arm, enabling the children's charity to generate revenue independent of donations.
Herbies parachutes City partner into Moscow
Herbert Smith has underlined its commitment to its Russian office by transferring London finance partner Alexander Currie to Moscow.
How to get the most out of new partners
The partnership promotions season is upon us again and there is no doubt that winning a seat around the partnership table remains the Holy Grail for many lawyers.
Irwin Mitchell fights care home to halt eviction of Alzheimer's victim
Irwin Mitchell fights care home to halt eviction of Alzheimer's victim" /Irwin Mitchell is taking a private care home operator to the House of Lords after it tried to evict an 83-year-old Alzheimer's sufferer.
Jones Day fights French headhunter fee ruling
Jones Day has become embroiled in a bitter five-year dispute with a French headhunter, which has involved allegations of harassment and threatening behaviour.
Jonny be good
News reached Tulkinghorn last week of an emotional farewell party on Olswang's 'seventh floor party area' (is this what they call the roof in media circles?) for outgoing chief executive Jonny Goldstein.
Know-it-alls
The growth of mixed-use development schemes means lawyers need to broaden their skills, says Moira Myers
Latham & Watkins Munich raids Dechert for private equity partner
US firm Latham & Watkins has lured a Dechert private equity partner to its Munich office.
Latham unfazed by Lloyds TSB shake-up
Former Fujitsu Services group counsel and company secretary Richard Allnutt resurfaced at Lloyds TSB as head of legal and commercial for group IT in January.
LawGram rebrands, moves house
Lawrence Graham has become the latest in a string of law firms to adopt an abbreviated form of its name.
Lawrence Graham thinks letters are better
Google 'LG' and what do you get? Surprise surprise, an electronics firm. Not a law firm.
Let's have order in the firm
Limbo is drawing to an end for the lucky chaps and chapesses who have received the call-up to the hallowed gates of partnership this year.
Lewis Silkin prelim results point to record PEP and turnover
Lewis Silkin has announced its best-ever figures for average profit per equity partner (PEP) and turnover in its preliminary results.
Linklaters axes breakaway associates
Linklaters has fired three associates from its Portugal office after discovering their plans to leave the firm and set up the Lisbon office of a major competitor.
Linklaters names 31 new counsel
Linklaters today (8 May) announced the names of the 31 lawyers who have been made up to the new global management level of counsel - a structure change which The Lawyer revealed yesterday.
Linklaters reinstates global COO position for Thompson
Linklaters has appointed Simon Thompson as global chief operating officer (COO), a position that had been redundant for the last three years.
Linklaters set to break billion-pound mark
Race to top symbolic £1bn heats up as Freshfields edges closer
Linklaters, Lisbon and laptops
It’s all going off in Lisbon: Linklaters has just fired three associates in its Portugal office after discovering their plan to leave the firm and set up the Lisbon office of a competitor. See story
Links creates counsel role
Linklaters has introduced a new global management level as it restructures ahead of Simon Davies's era as managing partner.
Links' Portuguese trio hit back at sacking claim
Three Linklaters associates from Portugal have spoken out for the first time after the firm claimed it had sacked them following the discovery of their plans to defect to a competitor.
London boroughs go head-to-head for legal chiefs
Local government in Central London is in a recruitment crisis, with four neighbouring boroughs all fighting for new legal chiefs.
Lovells scoops Merck legal chief
Lovells has strengthened its life sciences group with the addition of former Merck Sharp & Dohme legal director Marc Dalby, a client of the firm.
Macfarlanes set for management reshuffle
Macfarlanes is to overhaul its top-tier management when its senior and managing partners both step down next year.
Meekal Hashmi: Old Mutual Asset Managers
A move in-house has seen Old Mutual Asset Managers head of legal Meekal Hashmi find his niche. By Julia Berris
Michael Shaw: Cobbetts
Cobbetts managing partner Michael Shaw used to argue that his firm didn't need a London office. Times have changed
MoJ criticised on first day of opening
Criticism has been thrown at the Ministry of Justice (MoJ) within hours of it opening its doors for the first time today (9 May).
Nabarro set to smash £500k PEP target
Nabarro boosted turnover by 13 per cent and expects a 20-plus percentage increase in average profit per equity partner (PEP).
New management for Geordies
Newcastle-based Robert Muckle has appointed a new senior partner and re-elected its managing partner.
NHS IP arm appoints new director
The intellectual property arm of the NHS for the capital, NHS Innovations London (NHSIL), has appointed a new director of IP management.
Norton Rose associates bag pay increase to match magic circle
Norton Rose has increased its associates' salaries to be on par with the magic circle's.
Norton Rose raids Texans for new arbitration chief
Norton Rose has hired Baker Botts partner Joseph Tirado to head its international arbitration practice to plug the hole left when the firm's former global head of dispute resolution Peter Rees jumped ship.
OFT complaint calls for Clementi in Scotland
Scotland's legal service has been put in the dock by Which?, as the consumer association files a ‘super-complaint’ with the Office of Fair Trading.
O'Melveny latest to beef up restructuring
US firm O'Melveny & Myers has snared a restructuring team from Stroock & Stroock & Lavan to bolster its New York office.
Orrick gears up for European offensive
Orrick Herrington & Sutcliffe has formed a European advisory committee to examine its London and European expansion in the wake of the firm’s failed merger talks with Dewey Ballantine earlier this year.
OSSE chief quits for Law Society of Scotland role
The lead lawyer in the Office of the Solicitor to the Scottish Executive (OSSE) Richard Henderson is retiring at the end of this month to become vice-president of the Law Society of Scotland.
Pannone reports 'unexceptional' year
Manchester-based firm Pannone has reported steady growth for the last financial year, with a 15 per cent increase in turnover, taking it past the £40m mark. The single-site firm announced turnover of £44m, which compares with last year's figure of £39m, with an average profit per equity partner (PEP) increase of just over 4 per cent, representing a rise to £260,000 from £250,000.
Pensions: Rock and a hard place
Pension fund trustees often have to negotiate with employers, throwing up a host of conflict issues. By John Papadakis and Rosalind Connor
Pru link gifts Boots health insurance deal to Lovells
Lovells has acted for health insurance group PruHealth on a deal that will see Boots offer co-branded private medical insurance products in its stores and on its website.
Raft of firms benefit from mining mega-deal
The latest mega-deal in the mining industry has gifted roles to a group of elite US and Canadian firms.
Raid masquerade
It was panic stations at The Lawyer last week when news broke that Freshfields had been dawn-raided.
Salans hires DWS associate for arbitration launch
Salans has hired a senior associate from Denton Wilde Sapte to spearhead its London international arbitration practice.
Schönherr snares rival's team in CEE expansion
Austrian firm Schönherr is poised to take the entire real estate team of local rival Cerha Hempel Spiegelfeld Hlawati (CHSH) as it targets massive expansion across Central and Eastern Europe (CEE).
Senior steps up for second term as Bakers' London boss
Baker & McKenzie London managing partner Gary Senior has been reappointed for a second term.
Seven make partner at Stephensons
Stephenson Harwood has made up seven associates to the partnership, its highest number of promotions in the past three years.
Shell censured for flouting Nigerian rule of law with 'gas flaring'
Shell has been accused of ignoring the rule of law in Nigeria, with one of the company's own former lawyers leading the legal fight.
Simmons banks on lateral thinking
Simmons & Simmons' London-based associates are paying the price for the firm's lateral hiring strategy, with only three of them made up to partner in the latest round of promotions.
SJ Berwin boosts billings by 23 per cent; raises bonus
SJ Berwin has joined the flurry of firms reporting impressive yearend figures, after the silver circle firm revealed a 23 per cent increase in billings for the 2006-07 financial year.
SJ Berwin enjoys results to shout about
The UK's law firms are really getting their acts together. We're just eight days into the new financial year and the results are flowing in.
Skadden's City office welcomes three new counsel
US firm Skadden Arps Slate Meagher & Flom's London office has scored a bumper crop of new counsel in the latest round of promotions, which saw 43 promoted to the role worldwide.
Slaughters hikes salaries to stay in touch at the top
Slaughter and May has sent out letters to its associates outlining their new salaries, which just fall short of the majority of the magic circle's.
South East
Partners at smaller firms in the South East and London were disheartened recently by research showing that they earn less than their counterparts in the East Midlands, Yorkshire and the North East.
Stevens & Bolton bolsters construction
•South East firm Stevens & Bolton has hired construction partner Matthew Needham-Laing as head of construction and engineering from London construction boutique Fenwick Elliott. Needham-Laing said: "I chose Stevens & Bolton LLP because of the firm's evident commitment to expanding its construction ...
Swedish govt sell-off goes way of Ashurst
Ashurst’s Swedish strategy has reaped dividends, with the firm landing a key role on the first wave of Swedish government-led privatisations.
The financial forecast
Take a deep breath. The reporting of year-end figures has kicked off. Here are some predictions. This will be a record year for much of the City. At least 10 firms will gift their top partners more than a million for the first time and be able to put two fingers up to the Americans.
The work-life quiz with Roger Smith
What was your first-ever job?Porter at the now closed Cane Hill Mental Hospital near Croydon.
There's something about Martin
We may have referred in the past to the similarity of Slaughter and May's best friends alliance to the family Von Trapp.
Thompsons scores Lords victory in dinner ladies' equal pay claim
Trade union and personal injury specialist Thompsons Solicitors has won a battle for a group of dinner ladies in the war over equal pay.
Three made up by Thomas Eggar
•South East firm Thomas Eggar has promoted three associates into the partnership. The firm has also converted to LLP status and promoted seven assistant solicitors to associate level. The new salaried partners are corporate finance lawyer Angela Foster and employment lawyer Paul Gaff, who are based at the firm's Gatwick office, and private client lawyer Nicola Plant, who works out of the ...
Tim Clark: Slaughter and May
Tim Clark has slashed Slaughters' foreign offices to focus on its best friends strategy. But the relationships are only as strong as the deals that bind them.
Tip-top tapper
Signs of the dedication needed to run law firms north of the border reached Tulkinghorn last week when it emerged that Burness's sprightly chairman Philip Rodney has just hired a personal trainer.
Tods Murray snares former cricket pro
Tods Murray snares former cricket pro" /•Scottish firm Tods Murray has hired the former English international cricketer and broadcaster Paul Allott as an adviser to its sports law team. The appointment takes effect from 1 May. Allott played cricket 26 times for England in tests and one-day ...
Transport in-housers to share knowledge
Transport for London (TfL) legal chief Gareth John has launched a new networking group for in-house lawyers.
Travers junior partners' equity wait extended by a year
Travers Smith has prolonged the time it takes for junior partners to progress into full equity by a year.
Travers scores bumper partner promotions
Travers Smith is the latest City firm to announce its partnership promotions, making up more than double the associates it did last year.
Troutman Sanders raids Southern US rivals
Atlanta-headquartered Troutman Sanders has bagged five partners from Southern US rivals.
Turnover inches up at Browne Jacobson
Midlands firm Browne Jacobson has announced its 2006-07 turnover, which is up by just 3 per cent from £30.1m to £32m.
UK must amend insolvency laws ahead of downturn, say US firms
In anticipation of the UK's economic downturn, US law firms are lobbying the UK Government to change insolvency laws in the UK, making them more like those established in the US.
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.
Weightmans bucks insurance slump with record revenue hike
Weightmans has announced a record increase in turnover at the year end of 15 per cent in its year, taking last year's revenues of £38m to £43m.
White & Case announces salary increases
White & Case is the latest City firm to announce salary increases, with newly qualified lawyers seeing a 12.6 per cent rise from £67,500 to £76,000.
Wragges reveals tepid financials
Birmingham-based Wragge & Co has boosted turnover by a middling 11 per cent, hitting £112.6m after 2005-06's £101.3m.
