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US players grow London footprint as partner presence rises almost 10%
US law firms grew their partner count in the City by close to 10% during 2011 as they continued to increase their share of the European legal market. Legal Week's research into the hiring activity and penetration of US firms in London found total partner count at the 45 US and transatlantic firms in London taking part in the survey increased by 91 in the year to January 2012, to 1,199.Aggressive US firms push London partner hiring to five-year high
Partner hiring by US firms in London increased by over 25% in 2011, with firms adding more partners to their City bases than at any time over the last five years. Legal Week's annual survey of hiring trends at the City operations of some of the largest US and transatlantic firms found there were 116 partner hires during 2011 across the 45 firms taking part in the survey. The overwhelming majority of these (101) were partners at their previous firms.Early results see US firms sustain post-crisis recovery as financials rise
Mounting turmoil engulfing the eurozone and political wrangling over the US economy hasn't been enough to hold back the world's largest legal market, with early results confirming that America's leading law firms have remained in growth mode for a second year.The Transfer Window: recent moves including CMS, Eversheds and Weil
CMS Cameron McKenna has recruited former Salans partner Bill McCaffrey to take up a new role as head of consumer finance. The new post will sit within the firm's London financial institutions group and will see McCaffrey become the first CMS partner in the UK with a practice solely dedicated to advising high street retail banks on finance matters.Salans sees seven partners quit for US firm's London launch
Salans is to lose a seven-partner team from its London office to Locke Lord, as the Texan firm moves to launch its first permanently staffed base in Europe. Salans global banking chief and former global chair Stephen Finch, who stepped down as chairman in January 2010 after five years in the role, is among a raft of partners to resign from Salans' London office last week.Simpson Thacher and Sullivan head up firms on $4.7bn Blackstone LBO
A raft of US firms have taken roles on The Blackstone Group's $4.7bn (£3bn) acquisition of energy company Dynegy in one of the largest leveraged buyouts of 2010 so far, reports The Am Law Daily. Simpson Thacher & Bartlett is representing longstanding private equity client Blackstone on the deal, with corporate partner Wilson Neely and energy and infrastructure practice chair David Lieberman leading the firm's team.US Briefing: Paul Hastings malpractice suit runs
A New York judge has allowed a legal malpractice suit alleging faulty due diligence work by Paul Hastings Janofsky & Walker to proceed. Investor Ronald Katz hired the law firm to represent him in connection with a $3m investment in a company called Humitech. Katz claims the lawyers failed to determine that Humitech was not the beneficial owner of certain mineral rights he expected to obtain, and that other collateral in the form of stocks was encumbered.ConocoPhillips appoints eLong GC as China head
US oil and gas giant ConocoPhillips has appointed its first-ever legal director for China, hiring eLong general counsel Hal Fiske for the role. Fiske left eLong in mid-December after two years at the online travel service provider, a partially-owned subsidiary of US online travel giant Expedia. He joined eLong from US firm Baker & McKenzie and is yet to be replaced.US firms losing merger fever - Hildebrandt report
Merger and lateral activity among US law firms slowed slightly in 2007 but despite the darkening financial horizon, many in the industry expect the attorney shuffle to retain energy in 2008, writes the National Law Journal. According to consultancy group Hildebrandt International, mergers involving US law firms totaled 55 in 2007 - comprising 23 in the first quarter, 14 in the second quarter, 11 in the third quarter and just seven in the fourth quarter.TRENDING STORIES
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