Sofia Lind

December 12, 2011 | International Edition

Allen & Overy (A&O) global corporate co-head Sietze Hepkema is set to retire from the partnership in January and take on an of counsel position at the firm. Hepkema, who has played a significant role in the firm's global management for more than ten years, will now work just two days a week at A&O. He will spend the remainder of his time in non-executive roles outside of law, as well as getting involved in teaching projects, including investigations into corporate mismanagement.

By Sofia Lind

3 minute read

December 09, 2011 | International Edition

CMS Cameron McKenna is set to cut a number of partners from its City real estate team, with three London partners asked to leave the top 15 UK law firm. The trio will depart at the end of the current financial year (April 2012), with the departures coming after the firm also made a number of partner culls at the end of the last financial year.

By Sofia Lind

3 minute read

December 09, 2011 | International Edition

The Solicitors Regulation Authority (SRA) has created a new senior management role which will see the body's director of policy and standards Richard Collins join its senior management team (SMT). The role of executive director will see Collins become one of five members on the SMT and take responsibility to manage and develop regulatory policy, standards, strategy and research.

By Sofia Lind

2 minute read

December 08, 2011 | International Edition

Stephenson Harwood has made a double corporate partner hire in Greater China, including a partner from UK rival Bird & Bird. Bird & Bird corporate partner Matthew Wong has joined the top 30 City firm in Hong Kong, while Baker & McKenzie special counsel ChunFai (CF) Lui has joined as a partner in Shanghai.

By Sofia Lind

2 minute read

December 07, 2011 | International Edition

Simmons & Simmons has cut the cost of managing equity partners out of the firm by slashing the compensation to be paid out to most exiting partners, with the move coming as the firm's management takes steps to crack down on underperformance. The firm has changed its partnership agreement so that those managed out will effectively receive one year's pay. The payout will be capped at £400,000, but with most partners likely to be managed out expected to be at the lower end of the equity ladder, it is unlikely the full amount 
will be paid out.

By Sofia Lind

3 minute read

December 07, 2011 | International Edition

SJ Berwin and SNR Denton have taken lead roles on Brasserie Blanc's acquisition of the Chez Gerard restaurant chain, with the name set to disappear from London's eatery scene. SJ Berwin advised Brasserie Blanc, the chain founded by French chef Raymond Blanc, on the acquisition of eight London restaurants from administrator Deloitte, in a deal valued at around £10m. The restaurants will rebrand as Brasserie Blanc in a move expected to cost around £4m.

By Sofia Lind

2 minute read

December 02, 2011 | International Edition

Allen & Overy (A&O) has relocated senior City capital markets partner Boyan Wells to Washington DC in a bid to help get the newly-launched office off the ground. Wells, who is one of the most prominent partners in A&O's capital markets practice and sits on the firm's management board, moved to Washington on 14 November and is set to stay there for an initial period of up to six months.

By Sofia Lind

2 minute read

December 02, 2011 | International Edition

Allen & Overy (A&O), Clyde & Co and Centrica were among the winners at last night's (1 December) British Legal Awards, in London's Old Billingsgate Market. A&O scooped up the coveted law firm of the year award, seeing off competition from Clydes, Hogan Lovells, Kirkland & Ellis, Mishcon de Reya and Stephenson Harwood to win the prize.

By Sofia Lind

4 minute read

December 01, 2011 | International Edition

The Solicitors Regulation Authority (SRA) is to start accepting applications for alternative business structures (ABS) in the New Year, with its first ABSs potentially going live towards the end of February 2012.

By Sofia Lind

2 minute read

November 30, 2011 | International Edition

Simmons & Simmons and Allen & Overy (A&O) have taken lead roles on the rescue of stricken UK travel giant Thomas Cook. Thomas Cook, which appeared to be on the brink of bankruptcy last week, negotiated a £200m loan facility on 25 November with a consortium of banks 
led by Barclays, HSBC, RBS and UniCredit. The loan replaces a £100m short-term facility agreed in October. In addition, the banks have agreed to relax the financial covenants on the existing loan facilities, with the company stating that the agreement gives it "much increased headroom to deal with unexpected events and the effects of an uncertain economic environment."

By Sofia Lind

2 minute read