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  • March 1, 2011 |

    US invaders back on the offensive

    The number of partner promotions in the City offices of US law firms is on track to exceed last year's tally, with 33 new partners made up in London in 2011 so far out of a global promotions total of 382. Legal Week's annual survey of US firms' lateral partner hiring and internal appointments found there have been only five fewer partner promotions in London so far this year than in the whole of 2010.

    1 minute read

  • February 22, 2011 |

    Herbert Smith appoints new head of global oil and gas practice

    Herbert Smith has appointed energy, resources and projects partner Stephen Murray as the new head of the firm's global oil and gas practice. Murray has taken up the role with immediate effect. The position has not been filled since former group head Paul Griffin left the firm to join Allen & Overy in May 2010.

    1 minute read

  • February 22, 2011 |

    Law firm bankruptcies - rescues gone wrong?

    The email from Orrick Herrington & Sutcliffe chairman Ralph Baxter to newly-tapped Coudert Brothers chair Clyde Rankin on 12 February 2005 was short, friendly and direct: "Skip, congratulations on your election. I look forward to seeing you this week. Let's talk on Monday." The message, it turned out, wasn't just an electronic high-five from one firm leader to another. It was also the start of what evolved into talks between Baxter and Rankin about a possible merger of their firms. The email's inclusion in a lawsuit filed in December against Orrick by the administrator overseeing the bankrupt Coudert estate underscores where those talks led.

    1 minute read

  • February 22, 2011 |

    Gide and Salans - the French empires

    Gide Loyrette Nouel is the pinot noir of law firms. The most exquisite of wine grapes, pinot grows in small quantities in many regions around the world and sometimes fails to flourish - but always thrives best in its native France. With 19 offices, Gide is one of only two firms with French roots and international ambitions. About half of its approximately 650 lawyers are based in France and half abroad, mostly practising civil law for French clients. As Samantha Campbell, the firm's Vietnam practice leader, notes: "If you want a French cultural connection and an international experience, then Gide is the only choice."

    1 minute read

  • February 18, 2011 |

    Ropes closes City deal hat-trick as high yield drives leveraged finance

    Ropes & Gray's fledgling London office has handled three high yield bond issues this year, following the transfer of US finance partner Jane Rogers to the City. Rogers, who joined the firm's London arm in September last year from the US firm's Boston base, has advised the issuers on three high yield transactions since her arrival.

    1 minute read

  • February 18, 2011 |

    Davis Polk plans Sao Paulo launch as law firms continue to flock to Brazil

    Davis Polk & Wardwell has announced plans to establish a Brazil office later this year, reports The Am Law Daily. The office, the US firm's 10th around the world, could open as early as the middle of the year, though the date is subject to approval by Brazilian authorities. The announcement comes three months after Cleary Gottlieb Steen & Hamilton announced its intention to open in Sao Paulo.

    1 minute read

  • February 18, 2011 |

    Mind your own business – should clients be telling law firms how to run their shop?

    A recent article on Legal Week about an adviser review at Deutsche Bank reminded me of a concept that has gained traction in recent years: the notion that clients should get actively involved in the business model and inner workings of their external counsel. In the case of Deutsche, the bank has made it plain that it will look favourably on firms that use legal process outsourcing as part of its adviser review. The bank is certainly not alone - it's a concept that has attracted a growing level of support in the legal profession in the last five years.

    1 minute read

  • February 16, 2011 |

    Deutsche and JP Morgan push firms on costs and outsourcing

    Deutsche Bank is putting pressure on its legal advisers to increase their use of legal process outsourcing (LPO) as the bank nears the final stages of the first formal review of its external law firm relationships. Deutsche has told law firms that above all else they must be "innovative" about how they provide a cost-efficient service to the bank - in particular, the bank wants to see firms using LPOs wherever possible.

    1 minute read

  • February 16, 2011 |

    Barclays Wealth makes Morgan Stanley hire for new litigation head role

    Barclays Wealth has appointed Morgan Stanley's David Hart to the newly-created role of head of litigation, as the bank continues the restructuring of its in-house litigation functions. Hart, who joined the bank last month (17 January), will work closely with Barclays Wealth general counsel Duncan Perry. He joined directly from Morgan Stanley, where he served as an executive director in the in-house litigation team. Before that he was an associate in the litigation team at magic circle firm Allen & Overy, before joining Morgan Stanley in 2004.

    1 minute read

  • February 15, 2011 |

    Ashurst and Latham take lead on Sweden's $2.9bn bank stake sale

    Ashurst and Latham & Watkins have taken lead roles on the Kingdom of Sweden's sale of $2.9bn (£1.8bn) of its stake in Swedish bank Nordea. Ashurst advised the underwriters on the deal, which included Nomura, Morgan Stanley and Swedish bank SEB Enskilda. The City firm fielded a London and Stockholm team led by City-based head of capital markets Nicholas Holmes.

    1 minute read