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Berwin Leighton Paisner’s global private equity head Raymond McKeeve has exited to join Jones Day.
McKeeve worked in Kirkland & Ellis’ (K&E) private equity team until 2008 when he departed to pursue a career as an investment professional with property tycoon Robert Tchenguiz (4 March 2008). A year later, BLP partners voted in favour of accepting him into their partnership as head of private equity (19 March 2009).
Widely regarded as a leading private equity rainmaker, McKeeve advises a number of private equity houses, sovereign wealth funds and their investee companies including Backstone, Darwin and Intermediate Capital Group. His practice covers both UK and international markets, including MENA and sub-Saharan Africa.
Jones Day’s UK private equity practice head Adam Greaves said in a statement: “An increasing number of private equity firms and other asset managers are looking beyond the traditional markets to high-growth and emerging economies, including countries whose legal systems are still maturing. This creates opportunities for global law firms like Jones Day, with capabilities across all relevant and adjacent service lines, to deliver real value and the addition of Raymond will help us do that.”
BLP’s revenue fell by 5 per cent in 2012/13, from £246m to £233m. It is yet to announce its net profit or profit per equity partner (19 July 2013). In 2011/12, turnover rose 10 per cent from £229m to £246m. However, average PEP dropped seven per cent over the same period, from £712,000 to £660,000.
On 14 May the firm kicked off a redundancy consultation, which concluded in July with the firm cutting more than 100 jobs. The firm said it had reached its “target number” of redundancies – a total amounting to 58 legal staff and 44 secretarial staff (5 July 2013).
Jones Day’s partner laterals in London in the past 18 months include disputes specialists Christopher Braithwaite and Baiju Vasani, who joined from Simmons & Simmons and Crowell & Moring respectively; M&A partners Dan Coppel and Ferdinand Mason from Dewey and Boekel De Nerée respectively; projects and infrastructure partner Dominic O’Brien from Addleshaw Goddard; former Nabarro employment expert Jules Quinn; and capital markets partner Drew Salvest from Mayer Brown.
The hires reflected Jones Day’s areas of investment in its UK operations - litigation, finance, restructuring and corporate (22 April 2013).
In July, the firm hired Orrick’s former Asia managing partner and China office leader Michelle Taylor to the Hong Kong office (2 July 2013).