Bulk of Bingham's London and Frankfurt offices exit for Akin Gump
A 22-strong group of partners from Bingham McCutchen - comprising the majority of the firm's London and Frankfurt offices - is to join Akin Gump Strauss Hauer & Feld.
September 17, 2014 at 07:28 AM
4 minute read
A 22-strong group of partners from Bingham McCutchen – comprising the bulk of the firm's London and Frankfurt offices, and two partners from Bingham's Hong Kong base – are to join Akin Gump Strauss Hauer & Feld.
The move, which was announced by Akin Gump earlier today (17 September), is set to come into effect "over the coming weeks", and is also likely to include additional junior lawyers from the offices. The addition of the Bingham lawyers in Frankfurt effectively launches a German practice for Akin.
Earlier this month, Legal Week revealed that Bingham was in merger talks with Morgan Lewis & Bockius which the London office was opposed to, with the practice looking to split should the tie-up go ahead.
The talks were led by Bingham's London managing partner James Roome, London finance head Barry Russell and restructuring partner James Terry.
Roome will sit as senior partner of the London office, and is expected to appointed as a new addition to Akin Gump's board. Russell will become joint head of the firm's financial restructuring group, while Terry will have a role on the firm's strategic committee.
Commenting on the hires Akin Gump chairperson Kim Koopersmith said: "This will be transformative in enhancing our brand as a leading global firm.
"The attorneys joining us are hugely respected for their strength in areas that are key to our firm and clients, including financial restructuring, finance, disputes, tax, regulatory and corporate, and will build upon our own very strong teams in these and other areas.
"They truly are the dream team," she added. "I could not be more excited to introduce them to our clients."
Akin Gump's London managing partner Sebastian Rice said: "The synergies of our combined international practices, together with the incoming team's strength in London, make this union strategically compelling."
"Our financial restructuring team has, for many years, admired their stellar practice in the United States, which represents many of the same clients that we do," said Roome. "We are all thrilled to be part of this once-in-a-career opportunity."
In 2012-13, Bingham posted a 12.6% drop in worldwide revenue to $762m (£458m), in the wake of a decline in US restructuring and securities litigation work.
The London base, widely known for having one of the premier restructuring practices in the market, was seen as one of the standout offices in the firm's international network, and accounted for $52.3m (£31.4m) in revenue in 2013.
Despite a 3% fall in revenue per lawyer, the London office still outperformed the rest of the firm on the metric by 14%, hitting $1.09m (£654,400).
Five London-based Bingham partners have not signed up to the deal at the time of writing, including M&A partner Vance Chapman, restructuring partner Elisabeth Baltay and Thomas Holton, who splits his time between the City and Boston.
Competition partner Frances Murphy and funds partner Thiha Tun, who joined the firm last year from Jones Day and Herbert Smith Freehills respectively, are also not included in the group.
Full list of Bingham partners joining Akin Gump:
- Angeli Arora, corporate, London
- Tom Bannister, financial restructuring, London
- John Clark, finance, London
- Mark Dawkins, litigation, London
- Neil Devaney, financial restructuring, London
- Davina Garrod, antitrust, London
- Christian Halasz, Financial restructuring, London and Frankfurt
- Richard Hornshaw, litigation, London
- Christopher Leonard, financial regulatory, London
- Helen Marshall, financial regulatory, London
- Mark Mansell, finance, London
- Naomi Moore, financial restructuring, Hong Kong
- Liz Osborne, financial restructuring, London
- Stephen Peppiatt, finance, London
- Charles Rogers, corporate, Hong Kong
- James Roome, financial restructuring, London
- Barry G. Russell, financial restructuring, London
- Emma Simmonds, financial restructuring, London
- Stuart Sinclair, tax, London
- Sarah Smith, finance, London
- James Terry, financial restructuring, London
- Axel Vogelmann, financial restructuring, Frankfurt
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