Filter This View

  • September 12, 2013 |

    China's consuming passion – the country's taste for luxury goods is powering the M&A market

    Despite the drop in the number of US and European investments in China, Elizabeth Broomhall reports that the country's taste for luxury means law firms are still confident about inbound deal prospects – something they say is crucial as competition heats up for outbound M&A mandates...

    1 minute read

  • September 12, 2013 |

    Profit margin split highlights stark disparities across UK top 50

    Freshfields Bruckhaus Deringer has emerged as the most profitable firm in the UK top 50, with 2012-13 financial results showing profit margins across the group have remained broadly static. Freshfields comes out top when ranking the top 50 firms by profit margin, with net profit as a percentage of revenue standing at 44.9%. Linklaters places second with a 43.7% margin, with Macfarlanes and Travers Smith – the 28th and 40th largest UK firms respectively by revenue – ranking third and fourth and Allen & Overy (A&O) completing the top five. Average profitability across the 42 top 50 firms that fully disclosed their financial results stands at 25.2% for 2012-13, flat on the previous year's figure of 25.8%.

    1 minute read

  • September 10, 2013 |

    Clydes hires Aussie partner trio to lead construction and shipping practices

    Clyde & Co has ramped up its new Australia operation with the hire of three partners from firms including King & Wood Mallesons (KWM) and Norton Rose Fulbright. Two of the new recruits - KWM partner Beth Cubitt and Norton Rose Fulbright partner Glen Warwick - will launch an Australia construction practice for the firm, while the third - Maurice Thompson, who joins from Australian firm HWL Ebsworth - will lead its shipping, trade and commodities practices in the country.

    1 minute read

  • September 5, 2013 |

    Law firm optimism grows despite flat volumes in last quarter, CBI study reveals

    Hopes for increased business volumes and profitability at law firms have reached their highest peak since 2007, according to a survey of senior industry professionals. The report, produced by the Confederation of British Industry (CBI), found that although respondents from management, legal and other professional services reported that business volumes were flat over the last quarter, firms were confident that business volumes would pick up over the coming three months.

    1 minute read

  • September 5, 2013 |

    AIG to launch Asia-Pacific adviser review as regulatory demands grow

    AIG is set to kick off a review of its external legal advisers across the Asia-Pacific region, as the insurance giant sizes up a potential merger of its corporate and claims panels. The US-based company currently has a corporate panel including five to 10 law firms across several Asian countries, alongside a separate claims panel subdivided by jurisdiction and area of expertise. The corporate panel covers 13 countries where AIG has operations in Asia – Hong Kong, China, Taiwan, Japan, Korea, Singapore, Indonesia, Malaysia, the Philippines, Vietnam, Thailand, Australia and New Zealand. AIG expects to finalise the process before the end of the year.

    1 minute read

  • September 5, 2013 |

    Desert dreams – why law firms are reassessing their Middle East strategies

    In Abu Dhabi Herbert Smith Freehills (HSF) has been looking in recent months to sub-let half its office space on the 23rd floor of the prestigious Al Sila Tower. The firm stresses it remains committed to the city, but its move nonetheless reflects a broader readjustment of international law firm ambitions in the UAE capital. "It's no secret that we are looking to sub-let half of the floor we originally let," says Zubair Mir, head of HSF's Middle East operations, before adding that "we are not looking to return the lease in any way". He explains: "What happened was we bought an entire floor in Dubai which became more full than we expected, so when we negotiated in Abu Dhabi we took out more space than we needed to try to avoid the situation of not having enough room." HSF is not alone in rethinking its needs in Abu Dhabi. Hogan Lovells closed its outpost there last year and transferred its work to the firm's Dubai office, having decided that it made for a stronger regional hub.

    1 minute read

  • September 5, 2013 |

    Hard work has just begun: SJB and KWM chiefs outline bold plans for merged firm

    When counting down the days to a holiday, that 'to do' list can often seem a little daunting. But for most, pulling off an international merger deal is not one of the tasks on the agenda. SJ Berwin management duo Stephen Kon and Rob Day (pictured, top left and centre) have been enjoying a much-needed rest since signing an agreement to merge with Sino-Australian firm King & Wood Mallesons (KWM) at the tail end of July.

    1 minute read

  • August 27, 2013 |

    Transfer Window Asia: recent moves including Ashurst and Simmons

    Ropes & Gray has added to its corporate practice in Seoul with the hire of counsel Jaewoo Lee from Cleary Gottlieb Steen & Hamilton. Lee, who joins the US firm as a partner, will initially be based out of New York and Hong Kong but will relocate to Ropes and Gray's Seoul office when his license to practice in the North Asian state is approved.

    1 minute read

  • August 20, 2013 |

    SFO recruits Norton Rose Fulbright associate as bribery & corruption co-head

    The Serious Fraud Office (SFO) has appointed a Norton Rose Fulbright senior associate as the joint head of its bribery and corruption division. Ben Morgan, previously based in Norton Rose Fulbright's business ethics and anti-corruption team, replaces Patrick Rappo, who stepped down from the role in April to join US firm Steptoe & Johnson as a partner.

    1 minute read

  • August 15, 2013 |

    Baker Botts becomes latest firm to move into much-coveted Rio market

    Baker Botts has opened an office in Rio de Janeiro, as it seeks to grow its energy and disputes practices throughout Latin America. The Brazilian base, which will operate as a foreign legal consultancy, is the firm's first office in South America in almost 50 years, and its ninth international branch worldwide.

    1 minute read