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  • March 3, 2011 |

    Shearman sees London PEP fall 10% against 5% turnover increase

    Shearman & Sterling's London office has announced its 2010 financial results, posting a 5% increase in revenues against a double-digit drop in profits per equity partner (PEP). The US firm's gross fee income in London stood at $104.2m (£63.9m) for the 2010 calendar year, a 4.5% increase on the 2009 total of $99.7m (£61.2m).

    1 minute read

  • March 3, 2011 |

    Banking & Finance

    Shearman & Sterling assesses Europe's high-yield debt market and Norton Rose looks at the future of social housing funding

    1 minute read

  • March 2, 2011 |

    GE names Europe M&A counsel as Anheuser-Busch InBev reviews firms

    General Electric (GE) has reviewed its European M&A panel, with four of the five firms appointed in 2007 retaining a place on the roster. Slaughter and May, Weil Gotshal & Manges, Allen & Overy and Ashurst have all been reappointed to the panel for another four-year term. The appointments follow a tender process which kicked off last year and was concluded in January after several months of negotiations.

    1 minute read

  • March 2, 2011 |

    Howrey US departures continue as six-partner team joins Pillsbury

    Howrey is continuing to see partners leave the firm in the US as it awaits the resolution of talks with Winston & Strawn, writes the American Lawyer. Pillsbury Winthrop Shaw Pittman has picked up a six-partner Howrey construction litigation team, which also includes two counsel and seven associates spread across Los Angeles, San Francisco, Washington DC and New York. The team is led by San Francisco partner John Heisse, who will head Pillsbury's firmwide construction litigation team, and also includes Washington DC partners David Dekker, Jeffrey Gans, Melissa Lesmes, Michael McNamara and Los Angeles partner Robert Thum.

    1 minute read

  • March 1, 2011 |

    Shearman posts falling revenue and partner profits for 2010 financial year

    Shearman & Sterling saw an 8% fall in both revenue and partner profits in 2010, reports the Am Law Daily. The New York law firm this week released figures showing that gross revenues slid from $801m (£497m) in 2009 to $737m (£457m), while profits per equity partner fell from $1.74m (£1.07m) to $1.57m (£972,000).

    1 minute read

  • March 1, 2011 |

    Howrey City competition duo quit to join Kirkland's London office

    Kirkland & Ellis has added two partners to its City competition practice with a double hire from Howrey's London office. Shaun Goodman, one of the last remaining Howrey partners in London following a slew of departures in recent months, focuses on merger control, market dominance, cartel investigations, sector inquiries and private enforcement.

    1 minute read

  • March 1, 2011 |

    Flying high - the rise and rise of Europe's high-yield bond market

    Last year was very busy for issuers and underwriters of high-yield debt securities and the lawyers who act for them. After closing down in August of 2007, the high-yield market in Europe re-opened in the latter half of 2009 and became increasingly busy in the following months. In 2010, global new issuances of high-yield debt securities reached an all-time high of approximately $317bn (£196bn), up from $189bn (£117bn) in 2009. In Europe alone, new issuances amounted to $66.1bn (£40.8bn), up from $44.1bn (£27bn) in 2009. In January 2011, $35.1bn (£21.6bn) of high-yield debt securities were issued globally, of which $9.4bn (£5.8bn) was issued in Europe. If this trend continues, 2011 will be an even bigger year for high-yield than 2010.

    1 minute read

  • February 24, 2011 |

    Shearman signs up five Howrey antitrust partners in Brussels

    Shearman & Sterling has hired a five-partner antitrust team from Howrey's Brussels arm in a major boost for the firm's competition practice, reports The Am Law Daily. The group includes the firm's former global antitrust co-chair, Trevor Soames, who will be joined by partners Goetz Drauz, Geert Goeteyn, Stephen Mavroghenis and Miguel Rato. The five partners will start at Shearman's Brussels office at different points over the next two weeks, with a team of associates expected to follow.

    1 minute read

  • February 15, 2011 |

    'Trainees spend all their time photocopying' and other misconceptions about US firms

    Perception: You need an American accent and a US law background to fit in. Reality: How untrue- just as an example Shearman & Sterling's London office has around 75% English law practitioners. You are more likely to hear an English, continental European or Antipodean accent here. Lawyers work with clients from around the world (not just the US) on cross border deals and matters with colleagues from continental Europe, the Middle East, Asia, Latin America as well as the US. Away from our US offices, some lawyers are US qualified but most are locally qualified.

    1 minute read

  • February 11, 2011 |

    A&O recruits Freehills banking partner for Sydney office

    Allen & Overy (A&O) is set to strengthen its Australian banking practice with the hire of a partner from Freehills. Adam Stapledon is set to join the magic circle firm's Sydney office in April, after four years as a partner with Freehills in Australia. He previously worked as a lawyer with Shearman & Sterling in London.

    1 minute read