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Macfarlanes has made its third lateral hire in under a year, picking up Ashurst construction head Ann Minogue.
Minogue is the second former Ashurst real estate partner to join Macfarlanes’ commercial real estate department, following in the footsteps of former Ashurst managing partner Ian Nisse.
Nisse quit Ashurst to co-chair Shearman & Sterling’s international real estate group in 2004, before joining Macfarlanes in September 2011 (9 September 2011). Shearman & Sterling real estate specialist Clare Breeze joined him at Macfarlanes this summer (13 June 2013).
Minogue has been a partner in Ashurst’s real estate department since autumn 2009, which she joined after an eight-year partnership stint at Linklaters. Throughout her career she has represented property companies including British Land, Chelsfield, Hines and Stanhope, and the Tate.
Since joining in 2011, Nisse has advised on real estate deals including the acquisition of Tower 42, the BBC Television Centre at London’s Wood Lane and Macmillan Publisher’s new headquarters.
Macfarlanes is undergoing a push to bolster its real estate practice, after it was consumed by the firm’s corporate, litigation and private client groups in 2010. During the process it lost partners Ian Ginbey to Clyde & Co and Richard Reuben to Fladgate (4 March 2011).
More recently the firm has been hiring in other areas, picking up Speechly Bircham private client partner Charles Gothard (26 November 2012) and Akin Gump Strauss Hauer & Feld hedge funds partner Simon Thomas (18 February 2013). In April 2013, it made up four senior associates to its partnership including one non-contentious construction lawyer, Angus Dawson (8 April 2013).
In the 2012/13 financial year, Macfarlanes’ revenue hit record highs, jumping 11.7 per cent from £102.2m to £114.2m. Net profit increased by 16 per cent, from £42.2m to £49.2m, while profit per equity partner was boosted by 9.5 per cent from £903,000 to £989,000 (4 July 2013).