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Akin Gump, Freshfields and Latham latest to withdraw in Moscow as mass exodus ensues

Akin Gump, Latham & Watkins and Freshfields Bruckhaus Deringer are among the latest international firms to shut down or suspend operations in Moscow, as pressure to take action has mounted in light of Russia’s sustained invasion of Ukraine.

The news came after Linklaters and Norton Rose Fulbright announced their intentions to withdraw from Moscow in recent days.

As a firm with such strong ties to Russia, Akin Gump’s decision to suspend operations in the region has been particularly striking. In a statement issued on Wednesday (9 March), the firm said: ‘As a firm built by Robert Strauss, the last US Ambassador to the Soviet Union and the first US Ambassador to the Russian Federation, Akin Gump is deeply saddened and shocked by the events in Ukraine and the tragic and senseless loss of life of so many innocent Ukrainians.

‘In light of the ongoing crisis, we are suspending operations in Moscow pending further developments. We will do so in an orderly way, as the safety and well-being of our long-time colleagues and ethical obligations to clients in Moscow remain a high priority.’

Latham also took action this week. In a statement issued on Wednesday, chair and managing partner Rich Trobman said: ‘The firm will immediately begin an orderly transition, consistent with our ethical duties to our clients, to wind down operations in Moscow. During this process our focus will be principally on the safety and well-being of our colleagues in Russia.’

Elsewhere, Freshfields said in a statement: ‘We are announcing today that we will close our office in Moscow. We have been present in Moscow for 30 years and we are very conscious of the impact this news will have on our valued colleagues in Russia. However, in light of the Russian government’s actions in Ukraine, and the clear stance we have taken on Russia-related work, we believe that this is the right course of action.’

Meanwhile, Cleary Gottlieb stated that it would ‘temporarily close’ the Moscow office, ‘pending further developments’. The firm also said that it would be ‘continuing to support’ staff based in the city, but did not elaborate further on what this would entail.

Thursday (10 March) saw Herbert Smith Freehills follow the growing number of peers in intending to abandon the region. The firm, which has one of most developed Russia offerings of any international firm, said: ‘Following a review of our Russia business, we have taken the decision to close our office in the country. We are bringing to an end any work associated with the Russian State, in-line with our legal and professional responsibilities.’

Other firms to follow suit include Bryan Cave Leighton Paisner, Squire Patton Boggs, and Eversheds Sutherland. In a statement issued on Wednesday (9 March), Squires confirmed: ‘Our closure will effectively conclude our relationship with a number of clients in adherence with our professional obligations. All other existing work or new matters we undertake on a global basis will continue to remain in full compliance with all applicable laws and sanctions that are in place.’

The number of international firms yet to announce their intentions regarding Russian outposts is rapidly shrinking, and it now seems likely that the majority with a presence will shortly retrench. Firms yet to confirm they will leave Moscow include Skadden, Dentons and Baker McKenzie, all of which have well-established practices in the area.

White & Case is one firm that, at present at least, is still committed to its Russia office. A statement issued on Wednesday stated: ‘The office remains open and operational and we will provide updates when appropriate.’

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Deal watch: Global London elite turns out for KKR’s Refresco buyout and Macquarie’s Roadchef acquisition

The private equity boom has shown no signs of slowing down in recent weeks, with the London offices of US firms taking the lead on noteworthy acquisitions in the logistics, food & drink, and infrastructure sectors.

Skadden, Simpson Thacher and Latham & Watkins advised on the acquisition by KKR of a majority stake in independent beverage contract manufacturer Refresco. The deal will see existing investors PAI Partners and British Columbia Investment Management Corporation (BCI) retaining a minority stake in the company.

The Skadden team representing Refresco included London M&A partner Bruce Embley and New York M&A partners Paul Schnell and Sean Doyle. Capital Markets advice was provided from New York by Laura Kaufmann Belkhayat, while James Anderson in London handled tax matters.

Speaking to Legal Business, Embley noted that the transaction was reflective of the current market but warned the coming months would be harder to predict: ‘So far, the M&A markets have started 2022 as strongly as they ended 2021. Until very recently, there was no cause to believe that would not continue, but recent political events mean things do now feel less certain. We have already seen that they have caused considerable uncertainty in the capital markets which can have a knock-on effect on M&A.

‘In some ways, it doesn’t make sense to consider M&A as one single market that is either up or down. Different sectors are really their own markets with their own trends. Since the pandemic began this has been further underscored.’

Representing PAI Partners and BCI, the Latham team was led from London by partner Tom Evans, with the assistance of associates Maarten Overmars, Alex McCarney, and Chris Cox. Simpson Thacher advised KKR.

Elsewhere, GXO Logistics Inc announced its £1bn takeover offer of retail logistics specialist Clipper Logistics plc, a deal set to complete in summer 2022, subject to regulatory and shareholder approval.

The offer will see existing shareholders receive 690 pence in cash and 0.0359 GXO shares for each Clipper share they currently hold, effectively valuing a Clipper share at 920 pence. GXO has also obtained undertakings from a number of Clipper shareholders to vote in favour of GXO’s offer.

The target company was represented by Hogan Lovells. Corporate partner Dan Simons, who led the team which also provided assistance with ESI, antitrust, UK and US tax and US debt capital markets, told Legal Business: ‘The logistics sector has been very hot recently and we’ve got a number of deals on in this space. During the Covid pandemic, logistics has been one of the best performing sectors and I think that, over the coming months, we’re going to see a lot more high-profile deals and consolidation in the sector.’

Commenting on Clipper specifically, Simons added: ‘Clipper Logistics became a client of Hogan Lovells in mid-2021. Clipper was looking for legal advisers to assist them in executing potential acquisition opportunities in North America and so they wanted to partner with a law firm that had market leading corporate finance practices in both Europe and the US, so Hogan Lovells was the perfect fit.’

Wachtell, Lipton, Rosen & Katz and Freshfields Bruckhaus Deringer represented GXO. New York duo Gregory Pessin and John Sobolewski led Wachtell’s team, while the cross-border team from Freshfields was led from London by Piers Prichard Jones and Rhys Evans.

Finally, last week Macquarie Asset Management announced its latest acquisition, of motorway service operator Roadchef, for a reported £900m.

Serving 52 million customers a year, Roadchef is one of the largest operators in the UK with 30 locations nationally. Macquarie acquires the company from Antin Infrastructure Partners, which acquired it from an Israeli conglomerate in 2014 for a reported £153m.

Macquarie was represented by Weil Gotshal & Manges. The deal team was led by James MacArthur and included counsel Tom Fisher, associates Rick Wright and Alex Thams. Finance matters were handled by private equity infrastructure finance partner Paul Hibbert and counsel Emma Serginson.

MacArthur said: ‘This deal demonstrates our continued proficiency advising the largest global private equity clients on their strategic investments in infrastructure assets.’

White & Case advised Antin out of London. Caroline Sherrell led the team, assisted by associates Heidi Blomqvist and Johanna Wagner.

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Linklaters renounces Moscow office as Russia attacks Ukraine and peers react to invasion

Linklaters’ abandonment of its Moscow office in response to Russia’s sustained invasion of Ukraine has prompted peers to react, with many more likely set to follow suit.

Linklaters announced the move to shutter the Moscow office, which houses more than 70 lawyers, including 10 partners, on Friday (4 March). The firm said in a statement: ‘We will wind down our operations in Russia and close our Moscow office. We will continue supporting our people there in the process, doing all we can to help them transfer to new roles within Linklaters or otherwise.’

Further, the Magic Circle firm vowed: ‘We will not act for individuals or entities that are controlled by, or under the influence of, the Russian state, or connected with the current Russian regime, wherever they are in the world. We will wind down existing work in accordance with our legal and professional obligations. We will continue to assist international clients in dealing with the implications of the current crisis and in unwinding their Russian business interests.’

Similarly on Monday (7 March), Norton Rose Fullbright noted in a statement: ‘We are winding down our operations in Russia and will be closing our Moscow office as quickly as we can, in compliance with our professional obligations. The wellbeing of our staff in the region is a priority. We thank our 50 colleagues in Moscow for their loyal service and will support them through this transition.

‘Some immediate actions are possible and we are taking them. We are not accepting any further instructions from businesses, entities or individuals connected with the current Russian regime, irrespective of whether they are sanctioned or not. In addition, we continue to review exiting from existing work for them where our professional obligations as lawyers allow. Where we cannot exit from current matters, we will donate the profits from that work to appropriate humanitarian and charitable causes.’

Other firms have, thus far, stopped short of seeking to withdraw from the region entirely. Freshfields Bruckhaus Deringer announced that it ‘took immediate steps to terminate, suspend or decline mandates’ and that it ‘will not act for companies or individuals with close ties to the Russian state, with connections to the wider leadership regime, and/or who play a role in supporting or facilitating the current Russian military action.’ This has included terminating its major litigation mandate with VTB, a Russian state-owned bank, but the firm has not yet announced plans to close the Moscow office.

Meanwhile Allen & Overy is taking similar measures, stating in a Linkedin post: ‘We are reviewing our Russia-related portfolio, and as a result we will refuse new instructions and stop all Russia-linked work that goes against our values.’

These sentiments were echoed by Clifford Chance, with the firm saying it would not accept new work from a ‘Russian state entity, Russian state-owned enterprises or individuals identified as having close connections to President Putin.’ It also said that it will ‘review’ existing mandates to ensure that it ‘remains consistent not only with the letter and the spirit of the international sanctions but also with our responsible business principles and values’, although the statement did not explicitly say the firm would seek to terminate any matters.

Elsewhere, Mishcon de Reya is one of the few firms to announce that it will ‘continue to act for Russian clients who are not affected by sanctions’, pointing to the fact that some of their clients ‘are themselves the target of President Putin’s government’. While not having a physical presence in the region, the firm is well known for its ‘VIP Russia’ product, which offers high-net-worth clients advice on investment, property and immigration issues.

Elsewhere, Herbert Smith Freehills has said it would be keeping a weather eye on the evolving crisis. ‘We have been shocked and deeply saddened by what continues to unfold in Ukraine. Our first immediate concern is looking after our Ukrainian and Russian colleagues. The firm’s policy will ensure that we take full account of this rapidly changing landscape in the way in which we conduct our business. This will include our ceasing to act for certain of our Russian clients and on certain Russia-related work,’ HSF said in a statement.

Similarly, White & Case said: ‘We are reviewing our Russian and Belarusian client representations and taking steps to exit some representations in accordance with applicable rules of professional responsibility. Our Moscow office is open and continues to operate. We are complying fully with all applicable sanctions, and we continue to closely monitor this rapidly evolving situation.’

Dentons is another of several firms which is keeping the situation under review: ‘In light of the rapidly accumulating sanctions, we are conducting a thorough review of existing work and new business acceptance criteria to ensure compliance with our legal and ethical obligations, firm policies, and our values. As part of this review, we have already concluded certain relationships and declined certain instructions.’

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A&O opens in Boston as Simmons launches in Silicon Valley

UK firms have made significant moves stateside, with Allen & Overy and Simmons & Simmons announcing the opening of new US offices.

Allen & Overy’s US expansion project appears set to continue. With a new office in Boston set to open following the arrival of a five-partner group from Goodwin. The firm, which has been recruiting across numerous US practice areas since the collapse of the planned merger with O’Melveny & Myers, welcomed the new partners into its intellectual property litigation practice, significantly bolstering its offering in the life sciences industry. Elizabeth Holland will join the New York office and is set to become the head of the US life sciences practice, with Bill James joining the firm in Washington.

The new Boston office is set to be established by the additions of John Bennett, Nick Mitrokostas and Daniel Margolis, all of whom bring experience of litigation in life sciences.

US senior partner Tim House said: ‘Our sustained expansion across the US speaks to our strategy to become the only elite global law firm to offer scaled, coordinated, top tier intellectual property litigation capabilities to life sciences businesses across the US, UK, continental Europe and Asia-Pacific. The ability to develop coordinated, cross-border IP protection strategies from within a single firm with a uniform commitment to quality and client service is something that is requested by more and more of our global clients.’

The new arrivals are the latest in a string of hires in the contentious life sciences space and follow the addition of Sapna Palla and Stephen Neuhaus, who joined the New York and Germany groups in July and May 2021 respectively.

Elsewhere, Simmons & Simmons announced the opening of its first US office, with the new Silicon Valley practice poised to open in May.

The new office, which will not practise US law, follows the introduction of a Shenzhen practice in 2019 and signifies the overarching strategy of the firm to establish itself as a significant presence on the international tech market. Commenting on the development, head of TMT Alex Brown said: ‘This is a globally significant move for the firm’s TMT sector service. Silicon Valley is the epicentre of the global technology sector and is home to many of the world’s largest technology companies. With Simmons’ existing TMT sector expertise and its new on-the-ground presence, the firm is poised to win new work and forge stronger relationships with our existing US TMT sector clients. Together with firm’s office in Shenzhen, this will give us a presence in the two largest tech hubs in the world.’

Situated in San Francisco, the office is to be headed by new recruit Emily Jones. Having spent the previous five years leading Osborne Clarke’s practice in the area, Jones specialises in technology and data privacy and will oversee a practice focused on serving US TMT clients.

Jones said: ‘Having spent the last five years building my client base and reputation in Silicon Valley, working closely with companies as they expand outside the US and gaining valuable experience and understanding of the issues and challenges that are most important to them, I am ideally placed to represent Simmons on the US West Coast. It’s a time of tremendous growth and innovation in the technology market and Silicon Valley remains the focal point of this activity.’

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Stephenson Harwood re-elects Foord for fourth senior partner term

Roland Foord’s long-standing tenure as senior partner of Stephenson Harwood has been extended with his election to a fourth two-year term, starting 1 May 2022.

Foord’s re-election will push his leadership stint to well over a decade, having initially been appointed senior partner after he stood uncontested in 2012. A firm stalwart, Foord joined Stephenson Harwood’s litigation team in 1985 before being made up to partner in 1989. At the time of his first election, Foord also led the firm’s professional services and art law teams.

Chief executive Eifion Morris, who succeeded veteran leader Sharon White in 2019, commented: ‘Roland’s experience during a decade in which the firm grew significantly, will be an important attribute as we look to realise our ambitious plans for the next five years. His commitment to the firm – and the regard in which he’s held by everyone at Stephenson Harwood – is reflected by his re-election.’

Following a stall in revenue growth in 2019/20, revenue dropped 2% in 2020/21. Since then, the firm has bolstered its London practice, most recently this month (February 2022) with the additions of commodities trade finance specialist Philip Prowse from HFW and commercial technology partner Simon Bollans who, having trained at the firm, rejoined from Osborne Clarke.

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Hogan Lovells hails ‘record’ financial results as revenues and profits soar

In what it calls the ‘most successful year in the firm’s history’, Hogan Lovells has added $300m to its top line as revenue increased 13% from $2.3bn to $2.6bn.

It posted an even more striking profit result, with PEP shooting upwards 26% from $2m to $2.5m. Revenue per lawyer also saw a healthy 17% increase from $884,000 to just over $1m.

The 13% revenue hike far outstrips last year’s 3% increase in global fee income. Remarkably, the 26% jump in PEP is lower than last year’s startling 31% rate, although this was caveated by the introduction of a compensation floor for some partners in response to the pandemic.

Chief executive Miguel Zaldivar (pictured) hailed a stringent ‘financial discipline’ driving profitability: ‘There was no significant change to the partnership structure in the last year – we got invoices out early and converted WIP into revenues.’

Embodying the firm’s transatlantic focus, 47% of Hogan Lovells’ business originated from the Americas, with an equal 47% being generated from its EMEA business. The remaining 6% was derived from Asia. The UK specifically made up $534m of the firm’s overall revenue, representing 21% of the business.

Zaldivar said the results were a reflection of his ‘balance, balance, balance’ mantra: ‘We’ve had record years in every market. The economy in the US is booming, and we saw record performances in London, Germany and France. In our business, that geographical balance used to be a hedge, but it has now become a driver of success.’

In terms of practice groups, Hogan Lovells’ corporate and finance group represented 42% of turnover, with global regulatory and intellectual property, media and technology at 30%, and litigation, arbitration and employment at 28%.

Headline mandates for the period included the firm’s US practice, led by Silicon Valley M&A partner Keith Flaum, advising Oracle Corporation on its $28.3bn acquisition of Cerner Corporation. And in a notable disputes matter, Hogan Lovells is representing ENRC in its high-profile claims against the UK Serious Fraud Office following the conclusion of a long-running fraud and bribery probe.

Deputy chief executive Michael Davison told Legal Business: ‘Usually when there’s an M&A boom, there’s a slowdown in contentious work, but we’ve had both. It’s been a record year for our litigators.’

Hogan Lovells also announced this week plans to relocate to a new London headquarters in 2026, swapping Atlantic House for soon-to-be built premises at Holborn Viaduct. The firm will occupy all 12 floors of the building, which will comprise 266,000 square feet.

For an in-depth look at Hogan Lovells’ track record since its 2010 transatlantic merger, see ‘Winning Hartson minds’.

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Rocketing revenues at White & Case as London sees another double-digit boost

Ensuring that last year’s striking financial performance was no fluke, White & Case has unveiled another set of enviable results as 2021 global revenue jumped 20% from $2.4bn to $2.87bn.

London partner and executive committee member Oliver Brettle (pictured) told Legal Business that the firm’s global revenues had grown by 76% in five years, and that the latest increase marked White & Case’s largest annual jump in 25 years.

In London, the firm has maintained a similarly electric pace with turnover increasing 12% from $397m to $445m, although this is slower than the 18% growth rate recorded in the City last year. Brettle pointed to an impressive 53% boost in London turnover since 2016, and a strong recent track record of City recruitment. Last year, White & Case hired Allen & Overy litigation veteran Lawson Caisley, and in December added M&A heavyweight David Lewis from Clifford Chance.

And in terms of London work highlights, White & Case has joined many firms in riding an M&A wave in the past year, acting for Avast on its $9.2bn merger with NortonLifeLock in August. In another standout mandate, the firm assisted Hertz Global Holdings on a successful financial restructuring, providing a full $19bn payout in debt and claims while returning more than $1bn in value to shareholders.

The results made for good reading all round for White & Case, as the firm’s profit per equity partner (PEP) grew 17% from $3m to $3.5m, marginally bettering last year’s 16% increase and was coupled by a modest 6% swell in equity partner numbers from 342 to 363. Overall lawyer numbers grew by a larger margin, 9% from 2257 to 2464, meaning revenue per lawyer climbed by 10% from just over $1m to $1.165m.

It was a bumper year for White & Case in Asia, with revenues climbing by an impressive 30%. The Americas was similarly successful at 23%, while EMEA grew 15%. Brettle hailed this global influence on the firm’s results: ‘Each region has been incredibly strong; we are a truly global firm. In our last set of partner promotions, 64% were non-US-based, which really underlines the point.’

And on the people front, the firm also boasted an impressive record from its last set of global partner promotions, with 50% of those elevated in London being women, and 24% of those from the US and UK self-identifying as from an ethnic minority.

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Happy 200th birthday: Ashurst chief Jenkins re-appointed for four-year term

In an emphatic endorsement of five years’ sustained revenue growth, Ashurst global chief executive Paul Jenkins has been reinstated for a further four-year term from 1 November 2022.

Having originally been elected CEO in 2016, Jenkins has successfully guided Ashurst through a tricky post-merger period, with revenues far exceeding expectations. Turnover stuttered in the years immediately following Ashurst’s 2013 merger with Australian firm Blake Dawson, but over the course of Jenkins’ tenure the firm’s revenue has jumped by 40% with an average annual growth rate of over 7%.

In the latest round of financial results in July 2021, Ashurst breached the £1m-profit-per-equity-partner barrier for the first time since the global financial crisis, while revenues received a double-digit boost to reach £711m. 

Just like in 2019, Jenkins’ appointment was based on extensive consultations with the firm’s partnership and staff as conducted by Ashurst’s board – underlining his popular internal support.

Ashurst’s global chair Karen Davies, who was elected in 2021 as successor to Ben Tidswell , said of Jenkins: ‘This significant growth has been achieved through setting a clear vision and direction for the firm and disciplined strategic planning. It has included sharpening the firm’s sector focus, strengthening our capabilities in key markets and focusing on our clients and people. Inclusion, diversity and belonging has been a particular priority, as has advancing our responsible business and sustainability agenda.’

Jenkins said he relished that his appointment will coincide with Ashurst’s 200th anniversary in 2022, before setting out his key priorities: ‘Ashurst, like any other business, will be managing the lasting effects of the pandemic during 2022 and beyond. Continuing to adjust to the societal and economic impact of the pandemic will be key, including prioritising the ongoing health and well-being of our people, and encouraging new ways of working.

‘We are focused on unlocking growth for our clients, and see opportunities across our five priority sectors arising from the significant investment by our clients in sustainability, energy transition, digital transformation and new digital assets. The opportunities for growth point to a future that is very different to the past.’

In terms of strategic highlights from his current term, the firm points to ‘significant investments’ in its new law business Ashurst Advance as well as its consulting arm, Ashurst Consulting. Ashurst claims that the Advance platform has nearly doubled in size each year of Jenkins’ tenure, while Ashurst Consulting has turned over more than £10m in revenue since its 2020 launch.

Since the 2020 financial year, Ashurst has achieved 30% revenue growth in Continental Europe. And in more people-focused achievements, the firm has reached a 30% target of women in senior leadership roles, with 50% on Ashurst’s global executive team and 61% in senior business services roles.

Looking ahead, Jenkins told Legal Business: ‘Generally law firms have had a solid 12 months. I don’t want to speak too soon but common with the market, we are seeing very strong activity over the last nine months. All the signs are positive.’

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Management merry-go-round as CC, Mayer Brown and Watson Farley name new leaders

Capping off a week of significant change in big law’s C-suites, Clifford Chance has appointed financial markets partner Charles Adams as its next managing partner.

Adams will succeed incumbent Matthew Layton on 1 May 2022, when he will commence a four-year term. For his part, Layton was re-appointed for a second term in 2017, after improving operational rigour, bolstering partner performance and ushering in shake-ups to CC’s historically restrictive lockstep model . During Layton’s second term, CC boosted revenues by 35% and profit per equity partner by 65%.

Adams has been CC’s regional managing partner in continental Europe since 2018, and in that time has also sat on the firm’s executive leadership group. Prior to this role, he served as office managing partner for CC’s Italian offices between 2007 and 2014. In winning the support of the CC partnership, Adams fought off challenges from London structured finance partner Jessica Littlewood and Singapore-based project finance partner Nick Wong.

Adams said: ‘At Clifford Chance we have all the ingredients to continue to shape the legal industry: an outstanding global platform, deep and broad market-leading expertise and a strong, dynamic and ambitious culture. The past few years have shown what we can achieve, and I see many opportunities to work with partners and all my colleagues across Clifford Chance to build on that success. At the heart of all we do will be ensuring that we are the absolute first choice for our clients and for the best talent in the market.’

Elsewhere, Mayer Brown on Tuesday (14 December) announced that banking and finance partner Dominic Griffiths will succeed Sally Davies as London managing partner. Davies, who has held the position since 2017, will be stepping down at the end of the year to focus on her responsibilities as part of the firm’s eight-lawyer global management committee.

Joining Mayer Brown in 2005, Griffiths (pictured) served as co-leader of the firm’s global banking and finance practice since 2014. He also has valuable experience with fostering junior talent, thanks to his well-established position as Mayer Brown’s graduate recruitment partner.

A 2019 Legal Business Life during law feature on Griffiths saw him discuss, among many other things, his annoyance at ‘boring lawyers’, his love of Winston Churchill, and his general bon viveur approach to life.

Jon Van Gorp, global chair of Mayer Brown, described Griffith’s elevation as ‘great news for the London office.’ He added: ‘He is a talented leader, whose unique skills combine great knowledge of the firm, our clients and the London market. I am confident that he will build on Sally’s work to ensure that we continue to thrive.’

Speaking to Legal Business, Griffiths said: ‘I’m incredibly honoured to be chosen. I have been at the firm for a long period of time, and I am keen to transfer my previous focus on the finance practice into the future growth of the wider firm.

‘This will include outward-facing engagement with City institutions and consolidating our incredible network of banking institutions, funds and corporates. But it will also mean promoting the brand of the firm, which I consider to be one of a small handful of elite transatlantic practices with a broader network in Asia and South America. I would define our future approach to promoting our strong internal talent and attracting high quality lateral hires as “measured but serious growth”‘.

It is also an end of an era at Watson Farley & Williams, with longtime leadership duo Chris Lowe and Lothar Wegener stepping down as co-managing partners. The firm has opted to shuffle its management structure by appointing George Paleokrassas and Lindsey Keeble as its new senior partner and managing partner respectively for a five-year term starting in February 2022.

The outgoing Lowe and Wegener took on their roles in 2014, and can be credited with largely improving the firm’s form by focusing on its rigid sector specialisms , despite less favourable financial results of late. This summer, the firm recorded a 1% dip in revenue to just over £180m.

New senior partner Paleokrassas has substantial experience at the firm, having led WFW’s Athens office since 2005, building it up to become the largest international law firm in Greece. He is also a well-regarded shipping finance specialist with experience both in Greece and internationally.

Keeble previously headed up the firm’s London assets and structured finance group covering aviation, maritime and rail – a team which has now grown to 27 partners. She has also led the firm’s maritime sector since 2013 and is a highly-respected operator in that industry.

Keeble commented: ‘George and I both recognise the immense responsibility of our new positions and of ensuring the continued strength and longevity of the business, where our people have the chance to develop, express their views and ideas and have the opportunity to grow and ultimately see their careers fulfilled within the firm.’

On the lateral hire front, Linklaters has recaptured a pair of partners to boost its corporate and financial regulation practices. In Hong Kong, M&A and private equity specialist Betty Yap re-joins the firm from Paul Weiss, where she was China managing partner. She has extensive experience in cross-border M&A, strategic investments, joint ventures, special situations transactions and foreign direct investments involving China.

And in London, Carl Fernandes has returned to Linklaters from Latham & Watkins, bringing with him a practice focused on advising a range of financial services clients on complex regulatory issues. Linklaters’ Asia managing partner William Liu said: ‘The hire of these prominent industry veterans reflects our commitment to further enhancing our truly “world class” client offering. The wealth of experience they will bring to our well-established private equity/M&A and financial regulation practices, will enable us to provide unrivalled expertise to our clients to support them in maximising the opportunities in this diverse market.’

Fieldfisher has launched a new commercial crime practice via the hires of barristers Quinton Newcomb and Shiv Haria-Shah from boutique set Fulcrum Chambers. Newcomb is a highly experienced commercial crime, investigations and compliance specialist, who can boast representing Rolls-Royce, Alstom, Rio Tinto and ENRC in high-profile Serious Fraud Office investigations.

Haria-Shah additionally brings expertise in conducting internal investigations, and advising and training corporate clients on good governance and compliance procedures, helping them to guard against regulatory risk.

Outlining their ambitions, Newcomb said: ‘Fieldfisher is committed to building a market-leading practice, handling the most significant commercial crime, investigations and compliance work globally, with a dedicated and highly specialised team. I look forward to working with both my new and longstanding teammates to realise this goal.’

Finally, Milbank has strengthened its London antitrust capabilities with the hire of Andrea Hamilton, who joins from the Brussels office of McDermott Will & Emery. She brings nearly two decades of global experience in antitrust aspects of mergers and acquisitions, joint ventures, litigation, compliance and counseling, as well as foreign direct investment.

Alexander Rinne, head of Milbank’s European antitrust practice, stated: ‘As the UK continues to extend the scope and rigour of its foreign investment control regime, Andrea’s expertise will be essential for clients to effectively navigate this regulatory hurdle.’

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This article first appeared on Legal Business.