Access a pdf of the complete Turkey International Focus 2022 Continue reading “Legal perspectives from Turkey”
Legal perspectives from Turkey
Global London Case Study: Greenberg Traurig
London headcount: 116 lawyers, 42 partners
Lawyer headcount change since 2016: +147%
London managing partner: Fiona Adams, co-chair of the global corporate practice
Office specialities: M&A, real estate, investment funds, litigation, finance Continue reading “Global London Case Study: Greenberg Traurig”
ESG – What is it good for?
When Legal Business rounded off our inaugural ESG report last summer, we concluded that the coronavirus pandemic had given law firm leaders the opportunity to crystallise their stance on environmental, social and governance (ESG) imperatives.
For one thing, partners were not jetting around the world, flying in the face (quite literally) of their carbon footprint reduction targets, yet they still managed to be exceptionally successful. Looking back, it was a time when it was easy to be virtuous. Continue reading “ESG – What is it good for?”
Global London Case Study: Cadwalader
London headcount: 64 lawyers, 21 partners
Lawyer headcount change since 2016: 0%
London managing partner: Gregory Petrick
Office specialities: Financial services, capital markets finance, real estate finance, private and public M&A, shareholder activism, tax Continue reading “Global London Case Study: Cadwalader”
Global London 2022 – contents
Time for a reality check on salaries
That one of the chief concerns among law firm leaders in Legal Business’ annual Global London report is the retention of talent and the salaries required to do that in an ultra-competitive recruitment market is of course not ground-breaking news. Pundits have for years bandied around the term ‘the war for talent’, and with ever-more frequency in connection with demand for deal lawyers as the seemingly unstoppable private equity boom continues apace.
But when these phrases take hold they tend to stick and get churned out at every available opportunity when senior lawyers talk about the manifold challenges facing their businesses. Critical as the pipeline of talent unquestionably is, now that there is a real war on, the term seems hyperbolic. Continue reading “Time for a reality check on salaries”
Access your print copy online – LB307
We are providing more options for you to access your copy of Legal Business. Please see below for links to a limited version followed by a complete version. The complete version is only accessible to subscribers. Please make sure you are logged into the site to see the link.
Limited version Continue reading “Access your print copy online – LB307”
The Last Word: Broad stripes and bright stars
‘When it comes to English law, I don’t think clients are as focused on where a firm is headquartered, and they are willing to use a US law firm. The same is not true in reverse.’ Pranav Trivedi, Skadden
With the launch of our 2022 Global London report, we ask the leaders at US law firms in the City to weigh up the challenges ahead
Continue reading “The Last Word: Broad stripes and bright stars”
Conflict prompts Moscow exodus for Global 100 firms as Ukraine crisis takes its toll
Charles Avery reports on the firms taking a stand as sanctions bite
When news broke that Russia had invaded Ukraine, international law firms looked on in horror at the events unfolding and found themselves in the same predicament as just about every other major corporate entity. Continue reading “Conflict prompts Moscow exodus for Global 100 firms as Ukraine crisis takes its toll”
LB307 – issue menu
Legal 500 data: The Legal 500 Global London rankings
This issue holds our annual Legal Business Global London survey results.
To view the editorial commentary of the rankings go to: legal500.com Continue reading “Legal 500 data: The Legal 500 Global London rankings”
Keystone hails £400k saving on overheads as revenue rockets 27% and profits soar
Keystone Law has made last year’s 11% uptick in turnover look ordinary by comparison, today (28 April) announcing an eye-catching 27% boost in revenues from £55m to £69.6m.
This rate was bettered by the profitability increase: adjusted profit before tax stood at £9.1m, representing a pacey 52% jump from last year’s £6m figure. Overall, Keystone is in a healthy financial position, boasting zero debt and a strong operating cash conversion of 103%, with cash generated from £10m in operations.
Continue reading “Keystone hails £400k saving on overheads as revenue rockets 27% and profits soar”
Deals perspectives: Samantha Thompson
I saw a seagull trying to drink a glass of red wine the other day. I was at the House of Lords for an event on ESG governance and standing on the balustrade of the terrace was a massive seagull sticking its beak into a glass of red. It knocked one glass into the Thames and then another. There are so many awful things going on in the world but this kind of thing keeps me amused!
Deals perspectives: Sylvia Andriessen
In high school I got fascinated by courtrooms, the idea of standing in front of a judge and arguing! I’ve always loved to play with language and debate. I wanted to be in private practice, that was my dream, thinking that I knew what that was, which of course, I didn’t! When you’re so young and idealistic, it was more conceptual, looking for justice, rather than understanding what you really want when you’re 15.
Deals perspectives: Nallini Puri
I wanted a career that appealed to my academic side but was also practical; set in real life. Law appealed to both sides.
Sponsored briefing: Legal framework for Turkey’s transition to e-mobility has been introduced
Based on the aim of compliance with the objectives of the European Green Deal, Turkey’s e-mobility sector has been experiencing a significant development to reduce greenhouse gas emissions from the transportation sector and to accelerate the transition to a cleaner and more sustainable mobility. Therefore, Turkey has recently introduced new regulations and various incentive schemes relating to e-mobility.
In this context, an amendment of the Electricity Market Law Nr. 6446 entered into force on 21 December 2021 that regulates the procedures and principles on e-mobility activities as well as the rights and obligations of the market participants. Furthermore, new regulations on operation licences for electric vehicle charging stations and on installment of charging points in parking areas have been introduced. In addition, regulations that provide the legal framework for the e-scooter sector as a significant part of micro-mobility entered into force. The Turkish government has also adopted incentives for investments in electric vehicle charging stations. As a result of these regulations, it is expected that the number of electric vehicles and the electric vehicle charging stations will significantly increase in Turkey within the following years. Continue reading “Sponsored briefing: Legal framework for Turkey’s transition to e-mobility has been introduced”
Sponsored Q&A: Osman Ertürk ÖZEL, LL.M., managing partner, ÖZEL Attorney Consultancy
Given Turkey’s recent economic problems including the currency crash and inflation together with continued problems created by the Covid-19 pandemic, how is this affecting your firm?
The economic recession in Turkey existed a year before the beginning of Covid. Covid has just made this situation obvious. Serious fluctuations in currency along with over 100% inflation rate have deepened the existing economic crisis. This has caused a disruption in all kinds of production in the markets. The fact that banks kept up the markets through loans has greatly disrupted the balance in the market. As a consequence, the case portfolio in our office has shifted to legal procedures such as breach of contract, mediation, litigation and internal arbitration. Continue reading “Sponsored Q&A: Osman Ertürk ÖZEL, LL.M., managing partner, ÖZEL Attorney Consultancy”
Life During Law: Diala Minott
My mum is Syrian and my father’s Iraqi. I was raised in Saudi Arabia and Lebanon. I was influenced by the war in Lebanon and then the war in Iraq. Constantly moving and never having a place that you can call your own, but also fighting to be educated.
As a girl in Saudi Arabia, I had to dress up as a boy to go swimming and horse riding. All the things women weren’t allowed to do. When I became a teenager, I wasn’t allowed to any more. It was very obvious that I was not a boy and I found my world cut in half. Continue reading “Life During Law: Diala Minott”
Sponsored briefing: Turkey: A paradise for startups and angel investors
New and bold ideas often come from young people. We see the effect the new generations have on innovative technologies, especially due to the increase in digitalisation and the adaptation of the older generation to digital life being slower than the younger generation. Startups are on the minds of most of the young business people who think that their creative ideas cannot grow within the huge bureaucratic and cumbersome holdings and joint stock companies.
The startup, in words of famous entrepreneur Neil Blumenthal, is a term used for companies working to solve a problem where the solution is not obvious and success is not guaranteed. Since a not-so-distant past, we have often heard this term and have seen entrepreneurs’ success and failure stories. The number of entrepreneurs who do not want to be a part of corporate culture, who have new and extraordinary ideas and who adopt a flexible working culture is rapidly increasing. When it comes to startups, success, investment, growth and earnings are on one side of the coin; whereas the other side holds the problems of the crawling period, financial difficulties and the difficulty of finding investment. Perhaps even those of you who are reading this article have or have had a successful or unfortunate startup adventure. Not everyone who touches, nurtures and feeds on the startup ecosystem is immune to the difficulties experienced in that painful birth and crawling process of a startup. Perhaps one of the most challenging of these difficulties is the problem of financing. While some entrepreneurs in Turkey benefit from sources such as KOSGEB or TÜBİTAK funds or micro-loans, some of them are knocking on venture capital companies’ and angel investors’ doors to solve the financing problem that can determine the fate of a startup. Apart from these, another source of financing frequently used is the savings that the entrepreneur has made up to that day or the financial support they received from family, relatives and friends. Continue reading “Sponsored briefing: Turkey: A paradise for startups and angel investors”
Sponsored briefing: Understanding SAFEs and complexities in the ‘Simple’
I. Understanding SAFEs
SAFE is an acronym for ‘Simple Agreement for Future Equity’ that is concluded between investors and the target startups; where the investors give the funds to startups in advance, in exchange for a promise from the company to give shares to the investor at a future date when the startup raises money on a priced round. It is possible for the startups to sign SAFEs with numerous investors at the same time with different terms, as by nature, SAFEs let startups reward investors who are willing to move first by taking more risk, with lower valuations. Continue reading “Sponsored briefing: Understanding SAFEs and complexities in the ‘Simple’”