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Dentons in Brisbane grows with another new partner

Dentons continues its growth trajectory with the addition of another new partner in Brisbane, Caroline Snow.

Caroline joins as a corporate partner specialising in equity capital market transactions, complex governance, regulatory and compliance matters. Caroline also brings extensive experience as a corporate advisor to property and mortgage fund managers, listed and unlisted managed investment schemes, financial services clients, and activist security holders.

Caroline’s appointment continues the growth of Dentons’ Brisbane office, with Caroline joining recent partner appointments of Recovery and Restructuring Partner, Claire Petersen; Banking and Finance Partner and Head of Office, Craig Chapman; and Real Estate Partner, Cara Richardson.

Dentons’ Australia Region Chair and Australasia CEO, Doug Stipanicev said that in just six months, four new partners had been added to Dentons in Brisbane, and that Dentons was well on the way to achieving a short term Brisbane partner target of ten.

“Brisbane remains an important market for Dentons. We understand the importance of providing a fully integrated, national solution for our clients, no matter where they are based.”

“With Caroline’s appointment, we have again expanded our offering in Brisbane for the benefit of our clients, and will continue this expansion in other Australian markets in the coming weeks and months.”

About Dentons

Dentons is the world’s largest law firm, connecting top-tier talent to the world’s challenges and opportunities with 20000 professionals including 12000 lawyers, in more than 200 locations, in more than 80 countries. Dentons’ polycentric and purpose-driven approach, commitment to inclusion and diversity, and award-winning client service challenge the status quo to advance client interests.

85% of consumer business leaders prioritising sustainable growth

Mike Manby, partner and consumer growth leader: “The rate of change and disruption is making companies rethink what it means to be a consumer business, not just in the short term but also over the next ten years. Whilst much of the past year has been about survival, consumer business leaders are turning their focus to profit and sustainable growth in the year ahead. This is despite the challenges of pressured profits and significant cost reduction programmes in place. Whilst these ambitions mean leaders face the perennial conundrum of how to do more with less, it also sets out a new blueprint for business.

“Whilst we have seen distress, many consumer businesses across the board have also shown immense resilience in response to the COVID-19 pandemic. One of the most notable has been the shift to online platforms, with innovative online experiences created for consumers to continuing engaging with their favourite brands. It’s encouraging to see so many consumer businesses seeing the switch to online as impetus for further innovation, and no longer a future risk.”

David Sharman, partner and value creation services lead at Deloitte: “With revenues and profits in decline, and uncertainty surrounding the economic recovery from COVID-19, business leaders must make difficult choices.

“Survival cannot become the default mindset for consumer businesses. Indeed, when we asked business leaders to identify their strategic priorities over the year ahead growth was their primary concern. At the same time, 81% have made reducing costs a priority, meaning that the pursuit of growth will need to be balanced by financial discipline, and clear targets around return on investment. Consumer businesses must find a way to do more with less, or at the very least with the same amount of investment to ensure that growth is profitable.”

Key findings:

  • CEO and CFOs of consumer businesses identify priorities for the next 12 months as profitable and sustainable growth (85%), developing existing products and services (70%), and introducing new products and services (52%).
  • Over the same period, however, profits are expected to fall as a result of both COVID-19 (41%), and Brexit (50%).
  • Cost reduction programmes are also anticipated to ramp up in 2021 due to the pandemic (73%), and ongoing impact of Brexit (44%).
  • In the short term, the highest risks to business growth are identified as COVID-19 (78%) and the state of the UK economy (59%). Over the next five years, this is superseded by competition from challenger brands and new entrants (57%) and disruptive business models (54%). However, the biggest threat to growth over the decade is identified as climate change (50%).
  • 65% of leaders do not see the switch to online as a risk in future, as their response to COVID-19 pandemic has strengthened the online presence of consumer businesses.

Kirkland advises GTCR on minority investment in CAPTRUST

Kirkland & Ellis LLP advised GTCR regarding a 25 percent minority growth investment in CAPTRUST. The investment reflects a $1.25 billion valuation of CAPTRUST, an independent registered investment advisor, as the firm continues to grow and add services and capabilities.

Read the GTCR press release

The Kirkland team was led by transactional partners Ryan Harris and Chris Thomas, and associate Kyle McHugh; and tax partners Russell Light and Polina Liberman.

Kirkland & Ellis LLP is an American law firm. Founded in 1909 in Chicago, Illinois, Kirkland is the largest law firm in the world by revenue, and the seventh largest in terms of number of attorneys. Kirkland & Ellis is the first law firm in the world to break US$4 billion in revenue.

Eversheds Sutherland continues Chicago growth with Tim McCaffrey

Eversheds Sutherland is pleased to announce that Timothy J. McCaffrey has joined as counsel in our recently opened Chicago office. Mr. McCaffrey is the fifth attorney to join the Chicago office since it opened in May; he joins Partner Robert D. Owen in establishing Eversheds Sutherland’s Litigation Practice Group in the Windy City.

“We are committed to growing our presence in the Midwest and are thrilled Tim is joining us in Chicago,” said Ronald W. Zdrojeski, Partner and Co-Head of Eversheds Sutherland’s Global Litigation Group. “His strong reputation in the real estate market will be beneficial to clients with interests in Chicago and beyond.”

Mr. McCaffrey focuses his practice on real estate litigation and regularly counsels clients on real estate development, acquisitions, dispositions, financing, leasing defaults and disputes, and commercial foreclosures. He also has extensive experience advising construction clients including the representation of owners, contractors, subcontractors, and design professionals in disputes related to design and construction defects, project cost disputes, and mechanic’s liens.

In the last 20 years, Mr. McCaffrey has represented some of the largest private equity fund and real estate developers, owners, and managers in litigation over their assets. He has significant experience in civil and criminal litigation that includes class action lawsuits, antitrust actions, and breach of contract actions in the securities, construction, health care, pharmaceutical, and financial industries. In addition, Mr. McCaffrey brings white collar fraud criminal experience that includes cases involving public corruption, mortgage fraud, tax fraud, health care fraud, public finance, and insurance fraud.

He has also worked on numerous internal investigations and represented clients with respect to government investigations by the Securities and Exchange Commission, the Department of Justice, and the Department of Health and Human Services.

Litigation Practice Group

With more than 100 litigators, Eversheds Sutherland’s Litigation Group has tried and argued cases in the US Supreme Court, all 13 circuits of the US Court of Appeals, the Court of Federal Claims, the Tax Court and hundreds of federal district and state trial and appellate courts. Eversheds Sutherland’s litigation team represents regional, national and international clients from a broad range of industries, including energy, financial services, securities, insurance, construction, manufacturing, automotive, distribution, education, professional services, data privacy, electronics, technology and defense.

Optimistic companies expect revenue growth over the next 12 months

With disruption rewriting traditional business operations, private business leaders remain steadfast in their optimism about the year ahead. In its second report on this important market segment, “Global perspectives for private companies: Agility in changing markets,” Deloitte details that despite market challenges, three-quarters of private business leaders express high or extremely high confidence in the success of their private firm over the next 24 months.

In a survey of 2,550 private company leaders across 30 countries, Deloitte found that the majority of respondents anticipate growth in six of eight key business metrics in the next 12 months. The strongest growth is predicted for revenue, productivity and profits – with companies in the Americas taking the lead in terms of expected increases, compared to counterparts in the Europe, Middle East, Africa and Asia Pacific regions.

“Private business leaders don’t necessarily view today’s disruption as negative, but rather as offering new opportunities for growth,” said Jason Downing, vice chairman of Deloitte LLP and the U.S. Deloitte Private leader. “Despite some concern about trade policy and geopolitical uncertainty, the majority of executives we surveyed are highly optimistic about growth and truly have confidence in their company’s success in the year ahead.”

Proactivity is catalysing productivity

Technology has brought business closer to its customers but it has also upended business models. It has driven efficiencies but also fostered uncertainties. To address these conditions, firms globally are not staying idle but considering (43%) and implementing (40%) new business models to navigate disruption.

In conjunction with exploring new business models, companies are also looking for ways to improve growth. Globally, the top two strategies for firms are increased productivity (29%) and new product/service development (24%). Interestingly, these same two categories rank as the top competitive advantages.

Talent as the differentiator

Despite advances in adoption and implementation of technology, private business leaders realise their employees can be the differentiator and are investing in them through the following initiatives: 39% are devoting assets to training programs, 35% are increasing the number of full-time employees and 33% are investing in leadership development.

In order to attract and retain employees, 4-in-10 firms plan to reimagine learning and development programs using experiential formats, develop strategies to build an inclusive workforce, and increase their focus on flexibility and well-being programs.

Social purpose fuels corporate profits

With the influence of social media and the rise of employee activism, the majority of private business executives recognise that having a strong company culture is not a “nice to have” but a “need to have.” More than three-quarters (77%) of survey respondents agree that culture is strategically important to the success of the business.

Culture encompasses much more than the activity happening within a business and private company leaders today recognise this new reality. Specifically, the concept of social responsibility is resonating with private firms worldwide, with 66% viewing it as a top or high priority for their organisation. To make the most of these initiatives, organisations are focusing on corporate strategy as well as employee and customer branding to separate themselves farther from the competition.

Conducting business across borders

Regardless of business size or industry, technology has blurred borders and provides every company with the ability to be a global enterprise. In fact, the top driver cited for M&A activity over the next 12 months is the opportunity to enter new global markets (39%). The survey found that many private business executives expect to conduct an aggressive merger and acquisition strategy, with 42% believing it is likely or very likely they will participate in an acquisition in that timeframe.

This potential expansion comes in the face of uncertainties ignited by global trade tensions. While 24% of global respondents view trade barriers as a significant risk to growth, it is not at the expense of private business’ optimism: 15% of respondents cite entry into foreign markets as their company’s main growth strategy over the next 12 months.

“Despite some areas of uncertainty, private businesses remain the engine behind the global economy, fueled by their agility and ability to innovate,” Downing said.

About Deloitte Private

Deloitte Private is exclusively focused on serving private clients of all sizes and driven to address the opportunities and challenges unique to private businesses. Deloitte Private delivers audit and assurance, tax, consulting and risk and financial advisory services tailored for private companies, including family-owned businesses, closely held (nonfamily) businesses and private equity and venture-capital-backed businesses.

About Deloitte

Deloitte provides industry-leading audit, consulting, tax and advisory services to many of the world’s most admired brands, including nearly 90 percent of the Fortune 500 and more than 5,000 private and middle market companies. Our people work across the industry sectors that drive and shape today’s marketplace to make an impact that matters — delivering measurable and lasting results that help reinforce public trust in our capital markets, inspire clients to see challenges as opportunities to transform and thrive, and help lead the way toward a stronger economy and a healthy society. Deloitte is proud to be part of the largest global professional services network serving our clients in the markets that are most important to them.

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as “Deloitte Global”) does not provide services to clients. In the United States, Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the “Deloitte” name in the United States and their respective affiliates. Certain services may not be available to attest clients under the rules and regulations of public accounting. Please see https://www2.deloitte.com/uk/en.html about to learn more about our global network of member firms.