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Magic circle sees UK market share shrink as global consolidation takes hold

The magic circle has seen its revenue market share of the UK top 10 firms contract by more than 15 per cent over the last decade as global consolidation takes hold of the sector. While the collective revenue across the UK200 top 10 has defied the biggest economic slump in 100 years to double in…

Clydes snaps up Clifford Chance's China head of litigation and arbitration

Clifford Chance’s China head of litigation and arbitration Patrick Zheng has joined Clyde & Co as Beijing office managing partner. Zheng, who is set to play an active part in developing Clyde’s presence in China and Korea, is the firm’s second high-profile litigation and arbitration lateral hire this week. Yesterday it was announced that Eversheds’…

French corporate boutique BDGS picks up Linklaters M&A team

French corporate boutique BDGS Associés has made its first lateral hire since setting up 18 months ago, appointing Linklaters M&A partner Marc Loy. Loy is joining BDGS alongside Linklaters of counsel Thomas Meli, who will become a partner at the boutique. Linklaters associate Gauthier Verdon is also making the move. The hires bring the number…

Kirkland duo McDaid and Dean quit to kickstart Willkie Farr’s City PE practice

Willkie Farr has hired Kirkland & Ellis private equity partner duo Claire McDaid and Matthew Dean to launch its private equity offering in London. New York qualified Dean has previously worked for clients including Bain Capital, Summit Partners, CapVest, MezzVest and HIG Capital. Meanwhile, McDaid has represented those including Sun Capital, Vista Equity Partners and…

Robert Tchenguiz switches Shearman & Sterling for Stephenson Harwood in £300m SFO trial

Shearman & Sterling has lost one of the biggest litigation mandates of the year after business tycoon Robert Tchenguiz swapped the US firm for Stephenson Harwood in his £300m case against the Serious Fraud Office (SFO). Stephenson Harwood partner Sean Jeffrey was confirmed as lawyer to Tchenguiz and his investment vehicle R20 on Monday (7…

Monckton raids Doughty Street for five-strong public law team

Monckton Chambers has taken a group of five barristers, including silk Ian Wise QC, from Doughty Street Chambers in a bid to build a top-flight public law and human rights offering. It will come as a blow to Doughty Street, which lost three media juniors to rival set Matrix at the end of last year….

Taxation trends in the European Union in 2014

The Statistical Office of the European Union (Eurostat) and the European Commission’s Directorate-General for Taxation and Customs Union has issued a detailed statistical and economic analysis of the tax systems of the Member States of the European Union, which presents an overview of the tax system in each of the 30 countries covered (EU countries,…

Gibraltar lawyers jailed over £40m client money scam

Three brothers who ran one of Gibraltar’s largest law firms were jailed last week for fraud, four years after their firm, Marrache & Co, was put into liquidation. Benjamin, Isaac and Solomon Marrache were found guilty of fraud last week after a trial which was adjourned 47 times and saw the jury discharged last year….

Hogan Lovells moves into Mexico with BSTL bolt-on

Hogan Lovells is set to open its second and third Latin American offices in 2014 after bolting on Mexican firm Barrera Siqueiros y Torres Landa (BSTL). The deal will add two new offices to Hogan Lovells’ collection, in Mexico City and Monterrey, comprising about 70 lawyers including 16 partners. The new offices bring the firm’s…

HSF recruits from Taylor Wessing for sixth German partner

Herbert Smith Freehills (HSF) has picked up Taylor Wessing competition partner Michael Dietrich to bring the number of partners in Germany to six. Dietrich is the first competition partner to join HSF in Germany following the firm’s launch there in April last year (13 February 2013). He joins corporate partners Ralf Thaeter and Nico Abel…