Pui Guan Man

February 27, 2014 | International Edition

If law firms' current focus seems to be on reshaping the junior end of their fee earner base to include a more socially and ethnically diverse group of lawyers, let's not forget that the senior end of the profession also has problems. For some time law firms have been slammed for being ill-prepared to meet demand from older partners keen to continue working but perhaps with fewer hours and less responsibility than their younger, progression-hungry colleagues. But with a couple of new initiatives announced in recent months, is the tide gradually turning in favour of older lawyers keen to remain at their firms in some capacity? All of the UK top 10 firms offer the role of consultant as an alternative to partnership for lawyers beyond retirement age in certain circumstances. Take up at firms to date has been limited, however, with only small numbers at each. And, on the whole, the top 10 do not offer formalised mechanisms as partners wind down from the partnership. Part of the problem for firms is that lawyers have typically been very bad about planning roles beyond partnership. Of those who are interested in remaining in private practice, some might mull over the prospect of helping out with discreet projects, or get involved with education and training. Others may turn to thought leadership, or might want to retain a degree of chargeable client work. But it is not obvious whether this lack of planning reflects a lack of fore-thought on the part of the individual or whether it is because firms themselves are unclear on what roles are available beyond the lockstep.

By Pui-Guan Man

14 minute read

February 27, 2014 | International Edition

Simpson Thacher & Bartlett and Chiomenti Studio Legale have bagged the leading roles advising on Versace's sale of a 20% stake to US private equity house Blackstone. The sale of the €210m (£172m) stake values the family controlled Italian fashion house at around €1bn (£821m).

By Pui-Guan Man

2 minute read

February 27, 2014 | International Edition

Howard Kennedy FSI (HKFsi) and Davenport Lyons have called off merger discussions. A combination between the two would have created a firm with combined revenues of £62.5m, based on their respective financial results for 2012-13, placing the merged firm on the fringes of the UK top 50.

By Pui-Guan Man

2 minute read

February 26, 2014 | International Edition

Herbert Smith Freehills and Simmons & Simmons have landed roles on British online retailer AO World's £1.2bn flotation. The domestic appliance retailer has debuted on the London Stock Exchange today (26 February) at the billion-pound value after shares jumped by more than 40% on its offer price.

By Pui-Guan Man

2 minute read

February 26, 2014 | International Edition

Linklaters has secured a leading role advising electronic retailers Dixons on its potential merger with Carphone Warehouse.

By Pui-Guan Man

2 minute read

February 26, 2014 | International Edition

Allen & Overy (A&O) has made up 16 new partners across its global network as part of its annual promotions round, with five partner additions in the UK. The figure is 16% down on last year, when the firm promoted 19 new patrners, including six in the City.

By Pui-Guan Man

2 minute read

February 25, 2014 | International Edition

Clifford Chance has named M&A partner Guy Norman as the firm's new corporate chief after an uncontested election. Norman will hold the term for a four-year period beginning on 1 May. The vote closed yesterday afternoon.

By Pui-Guan Man

2 minute read

February 21, 2014 | International Edition

Clifford Chance's (CC) new global corporate head Guy Norman (pictured) will have a sizeable in-tray when he takes over from managing partner elect Matthew Layton in May.

By Pui-Guan Man

5 minute read

February 21, 2014 | International Edition

Clifford Chance (CC) M&A partner Guy Norman is on the brink of becoming the firm's new global corporate head as it emerged no other candidates put themselves forward for the job.

By Pui-Guan Man

2 minute read

February 20, 2014 | International Edition

Hogan Lovells is set to broaden its Africa capability, with the firm having already identified five specific markets to target. The plans, which will be developed over the next two months, will be presented to clients and local firms in target jurisdictions. The move comes in the wake of Hogan Lovells' combination with South African outfit Routledge Modise last December.

By Pui-Guan Man

3 minute read