18 June 2007

Links rubs salt in Freshfields wounds

Linklaters just can’t stop those raids on Freshfields. As we reveal today, star finance partner Brian Gray is joining the hungriest finance practice in the magic circle (See story). Linklaters just can’t stop those raids on Freshfields. As we reveal today, star finance partner Brian Gray is joining the hungriest finance practice in the magic […]

Ashurst’s second Cerburus deal saves Torex cash

Ashurst client Cerberus’s acquisition of troubled software retailer Torex has meant the company’s administrating banks have been able to recover most of their money. Advised by Allen & Overy (A&O), the Royal Bank of Scotland (RBS) recovered the majority of the £202m it leant to Torex when the heavily indebted software company went into administration […]

Linklaters snares second Freshfields banking star

Linklaters has scooped a second banking star from archrival Freshfields Bruckhaus Deringer with the capture of partner Brian Gray. Gray’s move comes just four months after former Freshfields restructuring and real estate finance partner, David Ereira, left for Linklaters in February. Gray, who has been a partner in the Freshfields banking team since 2002, handed […]

Latham partner quits for private equity fund

Latham & Watkins has lost its project development and finance group head to a private equity fund. Joseph Blum, who spent 21 years with the US firm, will join Global Infrastructure Partners as a partner and general counsel on 1 July. The bulk of Blum’s experience is focused on representing sponsors and financial institutions in […]

Simpson Thacher advises Blackstone on landmark IPO

Simpson Thacher & Bartlett has scooped a role advising longstanding private equity client the Blackstone Group on its US IPO. The flotation on the New York Stock Exchange represents the largest US IPO in the past five years and one of the largest in history. With 133 million units listing at $31 a unit, the […]

Citi and Egg appoint new head of legal

Newly combined Egg and Citibank’s UK consumer arm has appointed Tom Crane as its new head of legal. Crane joined Citi as Europe, the Middle East and Africa general counsel for credit cards from WilmerHale in May 2006. Crane has experience working on a range of corporate and regulatory matters at Citi, including on the […]

DLA Piper widens North-South divide with salary revamp

DLA Piper is the latest firm to announce newly qualified (NQ) salary increases, with associates in Scotland receiving a whopping 90 per cent less than their City counterparts. London NQs are now on a salary of £63,000, a rise of 19 per cent on the £53,000 they received last year. In the firm’s Birmingham, Leeds, […]

Ashurst PEP rockets 36 per cent to hit £956k

Ashurst has released its average profit per equity partner (PEP) figures for the last financial year, announcing a massive 36 per cent rise to just shy of £1m. Equity partners at the top 10 firm will now take home, on average, £956,000. This time last year, the figure was £701,000. The massive improvement in PEP […]

Clifford Chance gatecrashes global LBO rankings

Clifford Chance has broken the US’s stranglehold on advising global private equity buyouts, making it onto the global leveraged buyout (LBO) leaderboard in terms of value in the second quarter of 2007. According to data from mergermarket, Simpson Thatcher & Bartlett is the leading legal adviser to private equity buyouts globally, advising on $140.9bn (£70.71bn) […]

Gianni Origoni overhauls management

Leading Italian independent Gianni Origoni Grippo & Partners has revamped its top leadership structure, introducing the separate roles of senior and managing partner for the first time. Firm founder Francesco Gianni will be the firm’s first senior partner, while M&A partner Giovanni Nardulli will become managing partner. Strategy will be looked after by the senior […]

Long-serving BHP Billiton GC retires

Chief legal counsel and head of external affairs for FTSE100 mining company BHP Billiton John Fast is to retire in the new financial year. Fast, who leaves BHP after more than seven years, said he is looking forward to retirement, when will be applying his experiences to new challenges. Peter De Zwart, The FSTE company’s […]

K&L Gates acquires A&O’s old home

Kirkpatrick & Lockhart Preston Gates Ellis (K&L Gates) has agreed to move to Allen & Overy’s former offices at One New Change. The US firm’s London office, the bulk of which consists of the legacy Nicholson Graham & Jones, plans to take up to 142,000 sq ft of office space in the site adjacent to […]

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