Senior Ashurst corporate duo leave for City rivals
London managing partner among high-profile corporate exits
February 01, 2019 at 04:32 AM
4 minute read
Ashurst London head Simon Beddow and fellow corporate partner Robert Ogilvy-Watson are leaving the firm to join Bryan Cave Leighton Paisner (BCLP) and Macfarlanes respectively, Legal Week can reveal.
Beddow, who has been at the firm for 22 years, was appointed as the Anglo-Australian firm's first London managing partner in 2016. He is joining BCLP as corporate deputy departmental managing partner, working alongside the firm's US-based corporate chief Peter Van Cleve.
He is stepping down from his role as London head several months before the end of his three-year term. He took up the newly created post in June 2016 during a difficult period for the firm, with a string of partners leaving and profit per equity partner (PEP) and revenue both falling.
The firm has since gone some way to steady the ship, revamping its lockstep in a bid to retain star performers, and last year announcing a 10% PEP hike to £743,000 and a 4% increase in revenue.
Global managing partner Paul Jenkins paid tribute to Beddow's "very valuable contribution to the firm".
"We are really grateful for all of Simon's efforts," he said. "As his term in management comes to an end, we appreciate his wish to look for a new challenge and we wish him every success in his new role."
Beddow also previously served as German managing partner and co-head of the firm's global corporate, commercial and competition practice.
Meanwhile, Ogilvy-Watson is joining Macfarlanes, in a rare partner hire for the City firm. He has been at Ashurst since 1996 and also held a number of leadership roles while at the firm. He was Hong Kong managing partner for seven years between 2008 and 2015 and led the firm's corporate department from 2016 until last autumn.
Major deals he has advised on have included China General Nuclear Power Corporation's 33.5% equity investment in the £18bn Hinkley Point C nuclear project. He also spent two years on secondment as secretary to the UK Takeover Panel in 2002 and 2003, an experience he described as one of the most influential on his career.
Both he and Beddow have also had stints on Ashurst's board during their time at the firm.
Macfarlanes senior partner Charles Martin said the firm was "excited" to add a partner of Ogilvy-Watson's "seniority, quality and experience" to its team.
He added: "Public M&A in particular is central to our thinking as we look forward to shaping the future direction of the firm. In the near term, we expect corporates to respond to disruption with strategic activity and for private equity sponsors to look increasingly to the public markets for targets. Robert's experience is ideal for this and gives further depth to our team."
Beddow will be succeeded as London managing partner by real estate finance partner Ruth Harris (pictured), who has spent her entire career at the firm after joining in 1995. Her practice focuses on real estate investment, development and structured finance, and she also chairs the firm's partner admissions committee.
She joins a small group of women to hold leadership roles at top City law firms, with her appointment coming after Freshfields Bruckhaus Deringer last month named corporate partner Claire Wills as its new London managing partner.
Ashurst has been making progress on female representation of late, last year announcing a 58% female partnership promotions round and recently adding former JP Morgan investment banker Robin Lawther to its board as an independent director, taking the proportion of women on its board to 40%.
Jenkins commented: "I would like to congratulate Ruth on her appointment. She is a highly talented and driven lawyer with strong management ability and exceptional client skills. I have every confidence that she will have a significant impact on the firm as a key member of our management team and will provide strong leadership to the London office."
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