Deal View: Warlords in Paris – Kirkland’s long march to the French capital

riding on a Kirkland & Ellis wrecking ball

For a 109-year-old giant that fielded just 12 offices at the beginning of 2017, Kirkland & Ellis has had an expansive 18 months. Of course, there is never a better time to invest than the year in which your firm became the highest-grossing legal outfit in the world as Kirkland did in 2018 after posting $3.165bn. But it is still notable that of the five branches launched since Jeffrey Hammes took over as chair in 2010, three were announced since May 2017.

While earlier Boston and Dallas launches reflect a well-established ambition in its home market, news of Kirkland’s plans for a new arm in Paris signal a more symbolic extension of empire. Only Kirkland’s third branch in Europe, it comes more than two decades after London and almost 14 years after its Munich debut. Continue reading “Deal View: Warlords in Paris – Kirkland’s long march to the French capital”

Letter from… Singapore: A warm welcome and slick offering keep Singapore ahead in the race to be Asia global hub

Singapore graphic

The view from Fort Canning Hill is telling. You stand next to an early 20th century lighthouse, a testament to Singapore’s early success as a maritime trade hub. It shut in 1958, as the skyscrapers vaulting up rendered it hardly visible from the sea – a port at the crossroads of India and China was becoming a major financial centre.

Today instead of the sea, the view is of dozens of buildings hosting international banks, insurers, manufacturers, tech companies… and of course, lawyers. A city-state of just five and a half million is home to almost 1,000 national and 150 international law firms, making it one of Asia’s two dominant global hubs alongside old rival Hong Kong. Continue reading “Letter from… Singapore: A warm welcome and slick offering keep Singapore ahead in the race to be Asia global hub”

Revolving Doors: Fieldfisher lands new energy co-head as King & Spalding and Pinsents strengthen City benches

Firms began their Christmas shopping in earnest last week, with LB100 pacesetter Fieldfisher strengthening its energy practice while Pinsent Masons recruited in structured finance and King & Spalding enhanced its City corporate practice.

Meanwhile, TLT made a hire in the regions as Bird & Bird and Dentons made moves abroad.

Continue reading “Revolving Doors: Fieldfisher lands new energy co-head as King & Spalding and Pinsents strengthen City benches”

After the hammer, a scalpel – Kirkland confirms long-groomed successor to ‘visionary’ chair Hammes

Kirkland & Ellis wrecking ball

In probably the worst kept secret in Chicago legal circles, Kirkland & Ellis has confirmed that partner Jon Ballis will become its next chair when highly-rated incumbent Jeffrey Hammes steps down in February 2020.

Ballis’ elevation was officially confirmed last week, though Legal Business reported the succession plan back in July. Nevertheless, the Chicago-based private equity specialist faces a challenge in taking over from a leader who transformed Kirkland from regional challenger to unquestioned global elite. Continue reading “After the hammer, a scalpel – Kirkland confirms long-groomed successor to ‘visionary’ chair Hammes”

European Court of Justice makes landmark Brexit ruling as Fieldfisher prevails in $1.9bn Ukrainian banking dispute

As a crunch parliamentary vote on Theresa May’s Brexit deal looks to be postponed, the European Court of Justice (ECJ) has ruled the UK is free to unilaterally revoke its decision to a divorce from the EU.

The landmark ruling means that UK parliament can instruct the government to bring an end to the Brexit process, if it so wishes. Continue reading “European Court of Justice makes landmark Brexit ruling as Fieldfisher prevails in $1.9bn Ukrainian banking dispute”

‘Scale and investment capability’: Ashfords and Boyes Turner merger to create £60m southern force

South west-based Ashfords and Thames Valley firm Boyes Turner are primed to merge, creating a 100 partner-strong £60m southern law firm.

The merger will go live on 1 May 2019, subject to due diligence and legal agreements, while initial talks taking place in early 2017. The new firm will have a total of 700 employees and seven offices, with scale, future investment opportunities and client wins the cited motivations for the move. Continue reading “‘Scale and investment capability’: Ashfords and Boyes Turner merger to create £60m southern force”

First big defeat for Osofsky as SFO fails in Tesco prosecution

Newly-installed Serious Fraud Office (SFO) director Lisa Osofsky has suffered her first major setback, as the agency’s prosecution of two former Tesco executives was quashed this morning.

At Southwark Crown Court, Judge Sir John Royce instructed the jury to acquit John Scouler, formerly Tesco’s UK food commercial director, and Chris Bush, previously Tesco’s UK managing director. Both men had been prosecuted by the SFO on fraud and false accounting charges over a £250m profit overstatement by Tesco in 2014. Continue reading “First big defeat for Osofsky as SFO fails in Tesco prosecution”

‘Commitment to London’: Dechert makes up three in the City amid 16-strong partner promotions round

starry sky over the City

Dechert is continuing a recent spate of investment in its London office with the promotion to partner of three in the City amid a scaled up 16-strong global round.

The Philadelphia-headquartered firm has continued its commercial litigation push by making up Matthew Banham and Timothy Bowden from its white-collar crime bench in London, while tax lawyer Daniel Hawthorne has also been promoted. Continue reading “‘Commitment to London’: Dechert makes up three in the City amid 16-strong partner promotions round”

City criminal law firm HJA ushers in sweeping ownership changes amid succession problem

drawing a network of people

London law firm Hodge Jones & Allen (HJA) has brought in sweeping changes to its ownership model, making it the first firm to be wholly owned by its employees.

The reform, which has been implemented through an employee ownership trust (EOT), is intended to secure the firm’s long-term future and address succession issues posed by the impending retirement of senior partner Patrick Allen. Continue reading “City criminal law firm HJA ushers in sweeping ownership changes amid succession problem”

Deal watch: Bakers and Slaughters drink in £3.1bn Horlicks acquisition as AJ Bell IPO yields dividends for Pinsents and Addleshaws

As the market hunkers down for the festive season, GlaxoSmithKline’s (GSK) £3.1bn sale to Unilever of Horlicks has warmed the cockles of City teams from Baker McKenzie and Slaughter and May, while Pinsent Masons and Addleshaw Goddard have won key mandates on what is likely the year’s last big London listing.

The GSK deal sees it sell its malted drink brand Horlicks and other consumer healthcare nutrition brands to Unilever and includes the merger of listed GSK Consumer Healthcare India with Hindustan Unilever. GSK will also sell its 82% stake in GlaxoSmithKline Bangladesh in the deal, which is slated to complete by the end of next year. Continue reading “Deal watch: Bakers and Slaughters drink in £3.1bn Horlicks acquisition as AJ Bell IPO yields dividends for Pinsents and Addleshaws”

Revolving Doors: Greenberg capitalises on Ropes & Gray’s real estate cutback as Gowling and BWB make City moves

City of London

There were signs of a pre-Christmas pick up in the City lateral market last week with Greenberg Traurig the leader following a double hire from US counterparts Ropes & Gray.

Gowling WLG, meanwhile, made a significant London hire to its planning and environment practice as Bates Wells Braithwaite (BWB) brought in a team from Pennington Manches. Continue reading “Revolving Doors: Greenberg capitalises on Ropes & Gray’s real estate cutback as Gowling and BWB make City moves”

Media lawyer Mark Lewis fined £2,500 in controversial SRA antisemitism row

Mark Lewis

Well-known media lawyer Mark Lewis, who received a Solicitors Disciplinary Tribunal (SDT) fine for responding angrily to online anti-Semitic abuse, has had the bulk of his fine paid by crowdfunding supporters.

Lewis, recognised for his work advising phone-hacking victims against the News of the World, was fined £2,500 and ordered to pay £10,000 in costs after he ‘wished death’ to social media abusers. Continue reading “Media lawyer Mark Lewis fined £2,500 in controversial SRA antisemitism row”