As the latest edition of Legal Business went to press in late April, Allen & Overy (A&O) and Shearman & Sterling were working to a deadline of their own – the 1 May go-live date for their mega-merger. The headline figures are undeniable – A&O Shearman will come into existence with 4,000 lawyers in 48 offices across 29 countries, as well as $3.5bn in revenue; enough to rocket it up to fourth place in the Global 100. However, the future success of the firm depends to a large extent on the success of the integration process, which will now be handled by a new leadership team afte ..read more

Sidley Austin has continued its decade-long streak of growth in London, posting a 12.4% hike to reach $209.7m, with firmwide revenues reaching the $3bn mark. While global revenues grew 6.1% on last year, with profit per equity partner (PEP) up 10.3% to $4.6m, the Chicago-headquartered firm’s London office stood out with another year of double-digit growth. Sidley has enjoyed a long streak of revenue increases after making a strategic decision in the mid-2010s, to increase its focus on the private capital sector, a move which has continued to pay dividends. London managing partner Tom The ..read more

Allen & Overy has hired its second partner from the London arm of Milbank so far this year, bolstering its restructuring practice with the addition of partner Karen McMaster.  Recognised as a leading individual in The Legal 500, McMaster leaves Milbank after six years at the US firm. Her experience includes advising on debt restructuring and reorganisation matters, in addition to advising buy side and distressed investors with investments in distressed, stressed or special situations.  McMaster’s recent mandates include acting for an ad hoc group of secured creditors in the ..read more

Following his initial appointment to lead Baker McKenzie’s London office in 2021, managing partner Ed Poulton has been re-elected for another three-year term, starting from July. Speaking to Legal Business, he described the process of being re-elected as ‘relatively straightforward’. ‘We conduct soundings so that the partners get a chance to speak to a small group of partners,’ he said. ‘The message was I had strong support and people wanted me to continue.’   On the possibility of a third term in leadership, he added: ‘In theory, I could run again. But in my view, two three-year te ..read more

Following his initial appointment to lead Baker McKenzie’s London office in 2021, managing partner Ed Poulton has been re-elected for another three-year term, starting from July. Speaking to Legal Business, he described the process of being re-elected as ‘relatively straightforward’. ‘We conduct soundings so that the partners get a chance to speak to a small group of partners,’ he said. ‘The message was I had strong support and people wanted me to continue.’   On the possibility of a third term in leadership, he added: ‘In theory, I could run again. But in my view, two three-year te ..read more

Herbert Smith Freehills this week announced the appointment of new co-heads of its global arbitration practice, succeeding Paula Hodges KC, who is retiring after 37 years with the firm. Simon Chapman KC and Andrew Cannon will now co-lead the practice. The London-based Cannon already holds an array of leadership roles including co-head of public international law, head of India disputes and co-head of the Nordic group, while Chapman, who is based in Hong Kong, is currently regional head of dispute resolution for Asia. Hodges steps down after a hugely successful tenure at the firm, wh ..read more

Paul Weiss, Kirkland, and Skadden were all active in London lateral hires this week, with two partner exits from Linklaters amid the moves. In the latest of a flurry of high-profile hires, Paul Weiss has launched a Brussels practice with the appointment of antitrust partners Richard Pepper and Ross Ferguson. Pepper moves from Macfarlanes, where he advised on cartel and behavioural investigations, global merger control and foreign direct investment. Key mandates for Pepper include advising Dow on its merger with DuPont and Telefónica on a joint venture with Liberty Global to form Virgin M ..read more

Prominent high-yield partner Kevin Muzilla has retired from Allen & Overy, in the latest departure from the practice ahead of next month’s A&O Shearman mega-merger. Ranked in the Legal 500 Hall of Fame for London high-yield, Muzilla joined A&O from Milbank as a partner in 2009, and has since headed up the firm’s leveraged finance teams, first the US and then Europe. He has been active in the European high yield market since its inception, and has been involved in many market-defining deals, including advising the underwriters on what was the largest Russian LBO financing in ..read more

Following a less than stellar 2023, M&A activity in Q1 has picked up pace as market confidence grows, according to data compiled by Dealogic. During Q1, global M&A volume increased by 34% compared to Q1 2023, with total deal value reaching $839.2bn. Taking the top spot for legal advisors ranked by global M&A volume was Skadden, which achieved a 20% market share, with 46 deals worth a total of $170bn. The firm moved up three spots from last year’s ranking, knocking Sullivan & Cromwell from first place. Discussing his firm’s success, Lorenzo Corte, global head of Skadden’s trans ..read more

Mayer Brown has strengthened its London tax practice with the addition of tax partner Sam Riesenberg. US-qualified Riesenberg has joined the firm’s City base from KPMG in Washington, where he worked within the firm’s national tax practice. His hire bolsters Mayer Brown’s international tax offering across the asset management and funds sectors as he has significant experience in the space, working with clients including fund sponsors, sovereign wealth and pension funds, institutional investors, family offices and fund managers. His hire is Mayer Brown’s second into its London tax practice this ..read more