The Lawyer Africa Elite 2014 features an in-depth look at 46 leading independent firms’ strategies in 15 key sub-Saharan jurisdictions, as well as the views of in-house counsel from some of Africa’s largest companies... Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
Mayer Brown London senior partner Sean Connolly claims that “a merger isn’t plan A” for his firm after formal talks with Simmons & Simmons broke down.
The firm’s executive partner, Jeremy Clay, said the firm had been approached by Simmons and, despite its attitude towards a merger, agreed to talk with the firm. “There are a lot of UK firms looking to do deals. Most don’t get past the first phone call, but Simmons did because it’s a good firm.”
Clay and Connolly said Mayer Brown is “not looking for a big deal” and is focusing instead on “growing out London” through hires into finance and corporate, as well as targeting expansion in New York and China.
However, a source close to the situation disputed that the initial contact was made by Simmons.”The initial approach came from Mayer Brown to Simmons. Simmons was open to the idea, [but] it’s not the product of a merger itself. [It doesn’t have a] merged mentality.”
While management of the two firms were thought to have been attracted by practice and client synergies, stumbling blocks are thought to have included geographies and the £200,000 divergence in average profit per equity partner (PEP) between the two firms.