Herbert Smith to vote for full financial integration with Freehills

  • Print
  • Comments (20)

Readers' comments (20)

  • So Freehills partners in beautiful Sydney and Melbourne should be prepared to move to Beijing and Shanghai. Get ready for record high pollution levels, horrific traffic and tainted milk!

    Unsuitable or offensive? Report this comment

  • Dewey Ballantine and Lebouf Lamb merger redux.

    Two failing firms merging to try and pretend the can merge their way out of fundamental business problems.

    Unsuitable or offensive? Report this comment

  • Freehills partners relocated to London? Talk about deja vu - Freehills tried expanding into London and it was as abject a failure as its forays into Asia have all been. Freehills needs Herbies much more than vice versa, notwithstanding the mess Herbies have created around the globe.
    Either Freehills sell themselves into this second tier partnership now, or slide inexorably towards third-tier, then fourth-tier, then also-ran as the global elite leave them in the dust. Their Asia presence is already rated fifth tier to unrankable, depending on which league table you pick up.

    Unsuitable or offensive? Report this comment

  • Freehills sole named foreign office Singapore will be the first sacrificial lamb surely!

    Unsuitable or offensive? Report this comment

  • No doubt this bright idea will result in still more redundancies within HS - these were clearly enforced with the intention of accommodating Freehills' workforce and that there will be another round of them to make the correct "shape" of the firm ("pearshaped" comes to mind.....)

    Unsuitable or offensive? Report this comment

  • Still seems a very strange deal: culturally it's all wrong - Freehills are pretty arrogant and they are letting Herbert Smith (who are pretty arrogant) take them over?

    They should have look one tier down and merged with someone like Simmons or Camerons and developed a joint-Asia strategy as a combined entity.

    Suspect many Freehills partners will regret this.

    Unsuitable or offensive? Report this comment

  • Funny the number of snarky comments here! A couple of questions:

    How is a single profit pool going to work given the likely on-going variance in £-A$ exchange rates?

    What are the actual PPP *not PEP* numbers for each firm? And in the post-Dewey world, how much net debt does each firm have?

    On relocations, why on earth would any Freehills partner move to London in the current market?

    Unsuitable or offensive? Report this comment

  • Aside from a few top Aussie partners, Herbies is going to turn Freehills and its relatively lower paid staff and junior associate tier into a huge Antipodean outsourcing centre that will make the Belfast workhouse look minuscule.

    (That kind of cost benefit aside, this deal still strikes me as quite odd, but think it will go through just to save face).

    Unsuitable or offensive? Report this comment

  • I think it's more likely that a spate of London corporate partners will be relocating to the Sydney and Melbourne offices of Freebies. Herbert Smith's way of dealing with underperforming partners is to move them to another office.

    Unsuitable or offensive? Report this comment

  • You mean like relocations to Singapore? Dubai? Qatar?

    Unsuitable or offensive? Report this comment

View results 10 per page | 20 per page

Have your say

Mandatory Required Fields

Mandatory

Comments that are in breach or potential breach of our terms and conditions in particular clause 8, may not be published or, if published, may subsequently be taken down. In addition we may remove any comment where a complaint is made in respect of it. These actions are at our sole discretion.

  • Print
  • Comments (20)