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Norton Rose advises consortium of banks on $500m bond issuance

Global law firm Norton Rose Fulbright has advised Australia and New Zealand Banking Group Limited, Citigroup Global Markets Limited, Emirates NBD Bank PJSC, Industrial and Commercial Bank of China Limited, Dubai (DIFC) Branch, J.P. Morgan Securities plc and Société Générale as joint lead managers on a US$500 million bond issuance by Emirates NBD Bank PJSC.

The notes are due February 2025 and were issued off Emirates NBD Bank PJSC’s $12,500,000,000 Euro Medium Term Note Programme, which was updated in July 2019 and on which Norton Rose Fulbright also advised.

The Dubai-based Norton Rose Fulbright team was led by head of debt capital markets for the Middle East, Gregory Man, with assistance from senior associate, Ganna Vlasenko.

Gregory Man commented: “We are proud to have been involved in this transaction. This deal builds on Norton Rose Fulbright’s track record of advising on notable bond transactions in the region and once again provided us with the opportunity to represent many of our leading financial institutions clients.”

About Norton Rose Fulbright

We provide the world’s preeminent corporations and financial institutions with a full business law service. We have more than 3,700 lawyers and other legal staff based in Europe, the United States, Canada, Latin America, Asia, Australia, the Middle East and Africa.

Recognised for our industry focus, we are strong across all the key industry sectors: financial institutions; energy; infrastructure, mining and commodities; transport; technology and innovation; and life sciences and healthcare. Through our global risk advisory group, we leverage our industry experience with our knowledge of legal, regulatory, compliance and governance issues to provide our clients with practical solutions to the legal and regulatory risks facing their businesses.

Wherever we are, we operate in accordance with our global business principles of quality, unity and integrity. We aim to provide the highest possible standard of legal service in each of our offices and to maintain that level of quality at every point of contact.

Norton Rose Fulbright Verein, a Swiss verein, helps coordinate the activities of Norton Rose Fulbright members but does not itself provide legal services to clients. Norton Rose Fulbright has offices in more than 50 cities worldwide, including London, Houston, New York, Toronto, Mexico City, Hong Kong, Sydney and Johannesburg.

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RPC appoints Director of Information Technology

City-headquartered law firm RPC is pleased to announce the appointment of Ben Denison as Director of Information Technology, starting work at the law firm on 6 January 2020.

Ben will replace interim Director of Information Technology Craig Hawthorne, who will transition to RPC Consulting, RPC’s leading insurance consulting arm, at the end of the financial year.

He will report to the Chief Operating Officer and play an important role in shaping and delivering the firm’s own global technology strategy.

Ben joins RPC from the Serious Fraud Office (SFO) after five years, where he drove the law enforcement agency’s overhaul of its IT systems, policies, infrastructure and digital transformation into becoming a market leader for the use of technology in the legal sphere.

He managed IT services for over 650 users, including lawyers, investigators, accountants and corporate services teams, and rebuilt the law enforcement agency’s in-house technology team and capabilities to meet the demands of an ever-changing legal environment driven by technological advancements.

Commenting on Ben’s arrival, RPC’s Chief Operating Officer Alistair Johnson said: “We are delighted to welcome Ben at RPC. His experience and track record in dealing with high level and complex technological issues – in particular but not limited to high level challenges of data management and data security – for the SFO will be a great asset to the firm.

A good example of that is – complementing the work driven by Sam Tate, who we hired just over twelve months ago given our view that white collar crime and anti-bribery investigations are increasing under the new SFO’s leadership – delivering clients legal advice on the basis of a sound understanding of the challenges they are likely to face.”

RPC has a strong commitment to innovation and his appointment ensures that RPC continues its path in unleashing the advantages of technological transformation in our industry. I also want to thank Craig for his outstanding work while stepping in as an interim Director of IT and I couldn’t be more delighted that he has agreed to continue his work and transition into an integral role in RPC’s leading consulting arm.”

Adding to this, the Head of RPC’s TMT Group Jeremy Drew said: “I am very excited Ben has decided to join RPC. His hands on experience and knowledge in the technology space will be an immediate advantage in developing innovative solutions for ourselves and our clients – which is where we really want to grow in the next few years.”

Ben Denison said: “I was immediately impressed by RPC’s strong commitment and appetite for innovation, in particular its recognition of the potential that technology has to enhance its internal capabilities, and importantly in how it can be used to transform the delivery of services to clients. I was also particularly drawn to the firm’s genuine commitment to collegiality, collaboration and the highest level of client service; I can’t wait to get started.”

Baker McKenzie announces record global revenues of $2.92B

Baker McKenzie has announced record revenues for the fiscal year ended 30 June 2019 (FY19) of $2.92 billion. In terms of constant currency, Baker McKenzie’s revenues were up 4.4% compared to the previous year. In US dollar terms, the Firm’s reporting currency, this translates into growth of 1.2%, after the effect of adverse currency exchange.

Baker McKenzie remains the most geographically diverse global law firm and all of our regions recorded growth as follows: EMEA +5.2%, AP +2.1%, LA +9.0% and NA +4.0%

All of our key financial metrics improved over last year: revenue growth, net income, profit margin, Profits per Partner (PPP), Revenue per Partner and Profits per Lawyer. We are especially pleased to accomplish this amid a market with flat demand. PPP was up by 3% to $1.48 million in US dollars. Overall net income or profit rose by 2% to $1 billion. Over the last decade the Firm has grown by 40% in terms of revenue and 50% in terms of PPP, outperforming most of our competitors.

Among our standout markets, all with significant double-digit growth, include Bogota, Buenos Aires, London, Prague, Turkey and Warsaw.

Baker McKenzie Acting Chair Jaime Trujillo says, “Recording 4.4 percent growth in a market as challenging as this while maintaining our commitment to all of our offices and our full service offering is a good result. The investments the Firm continues to make in legal services, the centers of excellence we have opened in lower-cost locations, and more effective partnering with clients, supported by long-term investments in industry, practice and client programs have enabled us to show profitable growth.

“This is despite the distinct geopolitical head winds throughout the second half of the year, which prompted our clients to cancel or postpone projects. We are also one of the most geographically diverse professional services firms in the world, both one of our key strengths, and at times a challenge in markets impacted when the US dollar is so strong, as it was this past year.”

Our Future

Jaime concludes, “There have been moments in the past year when the Firm was tested as much as it has been in our 70-year history, but I am extremely proud of how we have come together and dealt with the issues that we have faced. Neither has it been an easy 12 months for the profession as a whole, with softening client demand as a result of geo-political uncertainty, an increasingly competitive market with new entrants and a declining overall market. It takes a Firm like ours with an enormous amount of resilience, experience and strong leadership from all our partners to be confident to face the challenges ahead.”

Karen Baxter shortlisted in the This Can Happen Awards 2019

Lewis Silkin LLP is delighted that Karen Baxter has been shortlisted for ‘Most inspiring Leader of the Year’ at the This Can Happen Awards 2019. The awards celebrate excellence in workplace mental health and Karen has been shortlisted for her work on Lewis Silkin’s This Place Minds campaign.

The awards were launched this year to celebrate and recognise companies and individuals who have shown excellence in their approach towards positive mental health for their employees and colleagues.

The awards ceremony takes place on 21 November in Central London.

Karen has also been invited to speak at the This Can Happen Conference on 25 November about the campaign she is leading at Lewis Silkin around mental health in the workplace.

Lewis Silkin LLP

At Lewis Silkin our ethos is simple. We strive to do the best for our clients, our people and the communities in which we operate.

HFW boosts fast-growing transactional offering

Global, sector-focused law firm HFW has continued to expand its fast-growing transactional offering with the hire of senior corporate finance partner Wing Cheung.

Wing specialises in capital markets, including initial public offerings, as well as M&A, private equity and other transactional work. He joins HFW’s Hong Kong office from US law firm Locke Lord, where he was Hong Kong Managing Partner.

Wing’s arrival continues HFW’s significant expansion of its global corporate and finance practices. HFW launched a transactional practice in China earlier this year and has now added 19 transactional partners across its international network since 2018, including lateral hires in Abu Dhabi, Hong Kong, Houston, London, Monaco, Paris and Singapore.

Patrick Yeung, Hong Kong Office Head, HFW:

“This is a major boost to our transactional offering in Greater China and the wider region. Wing brings a wealth of experience of high-end corporate finance, and has an outstanding reputation for his technical expertise and exceptional client service. I am thrilled to welcome him to the firm.”

Wing advises clients on a wide range of corporate and commercial matters, including initial public offerings and M&A. He also has significant experience in regulatory enforcement and compliance, having acted on major investigations and other proceedings by the Hong Kong Stock Exchange and the Hong Kong Securities and Futures Commission.

Wing Cheung, Partner, HFW:

“I am very excited to be joining HFW. It’s been really noticeable over the past few years that HFW is building a strong global corporate and finance practice to complement its leading reputation for disputes and sector-related work. I’m looking forward to helping the firm continue that growth, and working with the HFW transactional teams in Greater China and across the firm’s extensive international network.”

HFW has operated in Greater China for more than 40 years, having been one of the first international law firms to open an office in the country, in 1978.

The firm now has almost 80 lawyers in Greater China, including 21 partners, and is a market leader in aviation, commodities, construction, energy, insurance, shipping, commercial litigation and corporate.

HFW also recently brought in a market-leading team to launch in Monaco – one of 11 international office openings, mergers and associations since 2016, including a fully-integrated US merger and other moves in Brazil, China, Indonesia and the Middle East.

About HFW

HFW is a leading global law firm in the aerospace, commodities, construction, energy, insurance, and shipping sectors. The firm has more than 600 lawyers, including 185 partners, based in offices across the Americas, Europe, the Middle East and Asia-Pacific. HFW prides itself on its deep industry expertise and its entrepreneurial, creative and collaborative culture.

If you would like to find out more information, please visit: https://www.hfw.com/

Accountancy giant names new boss for Scotland

PwC has unveiled a new boss for its operation in Scotland. The firm has unveiled Claire Reid as the successor to long-standing Scottish chairman Lindsay Gardiner, who has stepped down after seven years in the role.

Ms Reid, until recently head of assurance for PwC in Scotland, becomes the first female to hold the post.

And she comes to the role with a strong background in technology. Ms Reid joined PwC in 1998 and in the earlier part of her career with the firm was based in Silicon Valley, California, where she worked with a number of high-profile technology clients.

On returning to the UK she worked to establish and develop PwC’s relationship with Oracle, a cloud computing partner, going on to help build the firm’s cyber security operation, during a 10-year spell in London.

Ms Reid, who has a degree in international business and modern languages from the University of Strathclyde, returned to her hometown of Glasgow in 2016 to become head of assurance and lead the firm’s technology risk practice across the UK.

Ms Reid said: “I am truly honoured to take on the role as regional leader for Scotland. It’s great to be back home in Scotland, working with local organisations and supporting them to prosper and grow across the region.

“Scotland has a dynamic and thriving economy with lots of great opportunity for business, our communities and the people of Scotland.

“I am really excited to build on our recent success and on our investment in Scotland. With my background in technology and digital change, I look forward to bringing continued energy and focus to this topic for our region.”

Mr Gardiner meanwhile will continue to work within the firm’s audit business. Mr Gardiner said: “Leading our wider team in Scotland for the last seven years has been a privilege and great fun. A lot has changed in that time, both in the way we deliver services for our clients, and in the firm itself.

“We now work, in some respects, for the majority of listed companies based in Scotland, have developed our oil and gas and financial services centres of excellence and significantly grown our services to locally-based private organisations and across the public sector.

“We now have more than 900 staff in Scotland and we have opened our new offices in Edinburgh and Aberdeen.”