Dentons plans to double its UK corporate revenue in five years
Global giant's corporate push comes shortly after the hire of BLP's David Collins in London to head the practice
March 18, 2016 at 12:07 AM
4 minute read
Dentons aims to double the revenue generated by its UK corporate practice within five years.
Renowned for its global expansion, Dentons is now looking to improve in the underweight, UK practice area, according to its new corporate chief David Collins.
"Given the overall size of Dentons globally, UK corporate ought to be bigger due to the importance of the jurisdiction as a leading global financial centre," he says. "Over the next three to five years, the aim is to double the UK corporate practice's revenue."
Collins says the corporate practice currently accounts for 12% of UK revenue but that he wants to raise this to 20-25% in the next five years.
Dentons declined to provide a figure for UK corporate or total UK revenue. But revenue at Dentons' UK, Middle East and Africa (UKMEA) arm increased by 6% for the 2014-15 financial year from £148m to £157m.
Collins stepped into the role of UK corporate head in January after leading Berwin Leighton Paisner's (BLP) corporate practice for two and half years. He left BLP in October last year a few months after he was bested in BLP's managing partner election in February by employment head Lisa Mayhew.
Collins replaces Richard Barham who led the practice for four years and has returned to working full-time as a partner in the City corporate practice.
Departing BLP before the news broke that it had set its sights on a merger with US firm Greenberg Traurig, Collins said his new role offers him an opportunity to build a corporate practice "on a much larger and more international scale".
"Dentons does a lot of cross border M&A deals and has a strong reputation in that area, but it is not as well-known as it should be in the City or the wider UK corporate market."
He says the firm is now "in a different peer group" following its international expansion, most notably its merger with Chinese firm Dacheng to create 6,600 lawyer firm, overtaking rival Baker & McKenzie to become the world's largest firm by lawyer-count. He says: "We are now also being invited to pitch for global panel and international counsel roles alongside firms like Norton Rose Fulbright, DLA Piper and Baker & McKenzie."
Currently, key corporate clients include French oil company Total, oil and gas company L1 Energy controlled by the Russian billionaire Mikhail Fridman, British venture capital group Virgin and UK construction business Kier Group.
However, Dentons' corporate practice in the UK remains less prominent than in other regions, in part due to its history. Following its merger in 2013 with French firm Salans, much of the work of the UK corporate practice involved deals in mainland and Eastern Europe, says Collins.
But he adds he wants Dentons corporate practice to be "a brand that strongly resonates in both the UK and cross-border corporate markets".
To do this, Collins plans to capitalise on referral work from across the firm's global network.
"We continue to see an increase in corporate opportunities from other regions. For example, UK corporate has already had several M&A referrals through the Dacheng relationship."
In addition, Collins is aiming to deepen the practice's sector focus. For example, he plans to invest in building the firm's corporate real estate team because the practice is "an area which offers significant potential for the firm and where UK corporate would benefit from some additional investment".
He concludes: "I want to ensure that we are joined up across other parts of the firm in terms of sector focus – I would not want us to consider corporate in isolation."
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View AllDentons plans to double its UK corporate revenue in five years
Trending Stories
Who Got The Work
Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
Who Got The Work
Edmund Polubinski and Marie Killmond of Davis Polk & Wardwell have entered appearances for data platform software development company MongoDB and other defendants in a pending shareholder derivative lawsuit. The action, filed Oct. 7 in New York Southern District Court by the Brown Law Firm, accuses the company's directors and/or officers of falsely expressing confidence in the company’s restructuring of its sales incentive plan and downplaying the severity of decreases in its upfront commitments. The case is 1:24-cv-07594, Roy v. Ittycheria et al.
Who Got The Work
Amy O. Bruchs and Kurt F. Ellison of Michael Best & Friedrich have entered appearances for Epic Systems Corp. in a pending employment discrimination lawsuit. The suit was filed Sept. 7 in Wisconsin Western District Court by Levine Eisberner LLC and Siri & Glimstad on behalf of a project manager who claims that he was wrongfully terminated after applying for a religious exemption to the defendant's COVID-19 vaccine mandate. The case, assigned to U.S. Magistrate Judge Anita Marie Boor, is 3:24-cv-00630, Secker, Nathan v. Epic Systems Corporation.
Who Got The Work
David X. Sullivan, Thomas J. Finn and Gregory A. Hall from McCarter & English have entered appearances for Sunrun Installation Services in a pending civil rights lawsuit. The complaint was filed Sept. 4 in Connecticut District Court by attorney Robert M. Berke on behalf of former employee George Edward Steins, who was arrested and charged with employing an unregistered home improvement salesperson. The complaint alleges that had Sunrun informed the Connecticut Department of Consumer Protection that the plaintiff's employment had ended in 2017 and that he no longer held Sunrun's home improvement contractor license, he would not have been hit with charges, which were dismissed in May 2024. The case, assigned to U.S. District Judge Jeffrey A. Meyer, is 3:24-cv-01423, Steins v. Sunrun, Inc. et al.
Who Got The Work
Greenberg Traurig shareholder Joshua L. Raskin has entered an appearance for boohoo.com UK Ltd. in a pending patent infringement lawsuit. The suit, filed Sept. 3 in Texas Eastern District Court by Rozier Hardt McDonough on behalf of Alto Dynamics, asserts five patents related to an online shopping platform. The case, assigned to U.S. District Judge Rodney Gilstrap, is 2:24-cv-00719, Alto Dynamics, LLC v. boohoo.com UK Limited.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250