Tag: goodwin procter

Revolving doors: Goodwin lures capital markets guru as Ashurst boosts derivatives practice

Amid the latest round of lateral hires, Goodwin has picked up capital markets partner and ESG specialist Ariel White-Tsimikalis from Bryan Cave Leighton Paisner in London.

White-Tsimikalis specialises in advising investment banks, corporates and private equity funds on equity capital markets transactions, but also offers advice to listed clients on their ESG obligations.

David Mardle, partner in Goodwin’s technology and life sciences practice, commented: ‘Ariel’s first-class equity capital markets experience will be an integral part of both our service offering to our portfolio of emerging growth clients as well as further growing our strong global relationships with leading financial institutions.’

Ashurst has boosted its London derivatives practice with the hire of former Norton Rose Fulbright (NRF) partner Daniel Franks. A derivatives and structured finance expert, Franks has experience across a broad range of capital markets transactions, particularly in the fintech industry.

Mike Logie, Ashurst partner and head of global markets, described Franks as ‘an exceptionally well-regarded practitioner.’ He added: ‘Our reputation in sell-side work is second-to-none and Daniel will be a great addition to the practice, enhancing our client offering with both his sell-side and buy-side expertise.’

As one derivatives partner leaves NRF, another one arrives. This week the firm welcomed partner Yusuf Battiwala, who joins from Dentons. He regularly advises on derivatives and structured finance work, both conventional and Islamic. Battiwala works across all major asset classes including rates, FX, credit, equities and commodities and his clients include banks, corporates and funds.

‘Norton Rose Fulbright has one of the most reputable banking and finance practices in the world with strength across all major regions and matter types,’ Battiwala said. ‘I look forward to joining the team to grow the firm’s market-leading offering to clients and to help them achieve their strategic objectives.’

Also in the City, King & Spalding has recruited executive compensation and employee benefits partner Robert Marshall from Jones Day. He has an extensive background of assisting public and private companies on executive compensation and equity plan issues on a global basis, spanning 140 countries.

Todd Holleman, head of King & Spalding’s corporate, finance and investments practice group, hailed Marshall’s international impact: ‘Clients increasingly require a global approach to their compensation and benefits schemes and Rob will be a vital aspect of further building our European and global capabilities.’

DAC Beachcroft has appointed Emily Senior as a partner to its health sector practice, previously leading Capsticks’ clinical negligence team in Leeds. She joins DAC’s health and social care sector group and has experience in matters relating to the likes of clinical risk and maternity incidents.

BCLP has pulled off a contentious recruitment coup in Paris, hiring two partners from White & Case as well as two associates. Philippe Métais and Elodie Valette are the joining partners, both of whom share expertise in banking litigation and regulation as well as commercial and white-collar crime matters. Métais previously led White & Case’s litigation team in Paris.

Constantin Achillas, co-managing partner of BCLP’s Paris office, said: ‘The arrival of Philippe and Elodie supports our ambition and strengthens our litigation offering. The synergies of our consolidated litigation department, together with the firm’s other practices of competition, restructuring, financing, M&A and real estate, further enhances our ability to respond to the diverse and complex disputes and situations our clients face.’

Despite shedding a couple of disputes practitioners in the French capital, White & Case has made amends by appointing M&A partner Xavier Petet following his exit from Clifford Chance. Petet advises on cross-border and domestic private equity transactions and corporate M&A, with particular experience in the technology, healthcare, energy and infrastructure sectors.

‘Xavier is a well-known up-and-coming practitioner in the French private equity market, whose energy and strong private equity pedigree will help further grow out EMEA private equity capabilities’, said White & Case partner and EMEA section head for M&A and private equity, Thierry Bosly. He added: ‘His addition will drive both the quantity and quality of private equity mandates handled out of Paris and further enhance the team’s stature in the market.’

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This article first appeared on Legal Business.

Goodwin’s City arm hikes revenue 11% to $74m on the back of lateral bonanza

In another robust year for Boston’s Goodwin, its ever-expansive City arm has seen turnover lift 11% to $74m amid a year of aggressive investment.

The double-digit City turnover growth may not be as pacey as last year’s eye-catching 58% uptick to $66.8m, but it speaks of the benefits of investing heavily and sticking to the strategy in a year characterised by a slower rate of growth for many more mature practices of US firms in London.

Global revenue saw a comparable 11% increase to $1.33bn from $1.2bn in 2018, while profit per equity partner (PEP) rose 6% to $2.61m from $2.46m last year.

On the back of a sustained hiring spree, London lawyer headcount grew 23% to 86 fee-earners from 69 the previous year, outpacing 14% global headcount growth from 955 to 1,091. That growth resulted in a 3% dip in revenue per lawyer (RPL) from $1.255m to $1.219m for 2019.

Notably, the firm’s City lateral tally since the start of 2019 also stood at 11, chiefly in the tech practice, and mainly from rival in the space, Taylor Wessing.

The biggest haul came last summer with the team hire of Taylor Wessing’s head of life sciences Malcolm Bates, along with colleagues David Mardle, Tim Worden and Adrian Rainey.

The team followed the January 2019 addition of Taylor Wessing corporate partner Andrew Davis to its technology and life sciences practice and the March hire of Simon Thomas from Addleshaw Goddard as a partner in the financial restructuring practice.

More recently in August, tax partner Robert Young was hired from Taylor Wessing and Ali Ramadan joined from Orrick. Last November, private equity partner Carl Bradshaw went over from Kirkland & Ellis, while in January, Goodwin enlisted CMS’ private equity head James Grimwood and this month real estate partner Justin Cornelius joined from Bryan Cave Leighton Paisner.

The firm also last year threw its weight behind London, promoting three to partner – private equity lawyer Ravi Chopra, tax lawyer Katie Leah and real estate lawyer Martin Smith – in its 33-strong global round.

A relatively recent entrant into the London market, opening with a solitary partner (in the form of ex-Ashurst corporate real estate veteran and now Goodwin’s European chair, David Evans) in 2011, Goodwin’s success has been driven by a single-mindedness in sticking to and investing in the four core areas of real estate, private equity, life sciences and technology, mirroring the firm’s strongpoints in the US.

Goodwin had an impressive run of mandates during the financial year, acting for Medical Properties Trust on the acquisition of a corporate structure that owns a portfolio of 30 acute care hospital facilities, valued at roughly £1.5bn, with a team led by Evans, James Spence and Bradshaw.

The year also saw two $1bn mandates for Investcorp and a role advising Ares Management on the structuring and establishment of Ares European Real Estate Fund V, which closed last August having raised €1.78bn.

US firms to report more subdued financial performance out of London include Akin Gump Strauss Hauer & Feld, whose revenue remained broadly flat at $125.1m on the heels of a 28% surge in 2018, while Cadwalader, Wickersham & Taft saw its London revenue drop for the second year in a row, falling 4% to $41.3 in 2019, in spite of global revenue growing 9% to $459m.

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This article first appeared on Legal Business.