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Field Fisher Waterhouse has confirmed it is in merger talks with LG, in a move which could create a law firm with revenues of more than £150m, placing it just outside the UK top 20. The merger talks are at a very early stage, with no proposals yet put to partners at either firm. A spokesperson for Field Fisher confirmed: “Like the majority of mid-market firms, a merger is on our agenda. Field Fisher has ambitious growth plans and we recognise that a merger is a way to achieve those goals.” She continued: “We would like to grow our offices in Europe, to strengthen our core practice areas and to offer clients greater international reach. As such we have been in talks with several firms, including LG, and have been exploring the benefits that such a merger would bring.” Field Fisher has 153 partners and more than 220 lawyers across seven European offices. The firm posted a 2.2% increase fee income to reach £94m for the 2010-11 financial year, while profits per equity partner (PEP) rose 7% to £510,000. LG, meanwhile, has 73 partners and 196 lawyers. The mid-market firm saw both revenue and profits fall significantly at the close of last year, with turnover for 2010-11 coming in at £59m, 9% down on the £64.9m posted the previous year, a result which saw the firm drop out of the UK top 50. PEP, meanwhile, fell 10% to £412,000 from £460,000. A tie-up with LG would gift Field Fisher new offices in Monaco, Dubai and Moscow, while LG would benefit from Field Fisher’s presence in Brussels, Dusseldorf, Hamburg, Manchester, Munich and Paris. LG has been openly looking for a merger in recent years, with the firm entering into serious discussions with Scotland’s Shepherd and Wedderburn last summer, which are understood to have ended around September 2011 after the Scottish firm opted out of the talks.

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LG has promoted four lawyers to its partnership in this year’s round, doubling the number the firm made up to the top rank last year. All four promotions have been made in the London office with Rose Chamberlayne added to the partnership in the private capital practice, Jon Lent in finance and Carole Peet and Caroline Walker in the real estate group.

legalweek

Clifford Chance (CC) and LG have secured lead roles on Royal Dutch Shell’s $1.6bn (£1bn) bid for oil exploration company Cove Energy, reports The Am Law Daily. Cove, which is based in London and holds oil and gas assets in Kenya, Mozambique and Tanzania, is being advised by LG, with corporate partners Geoff Gouriet and John Reed heading up the firm’s team.

legalweek

LG and Withers are both set to open offices in Singapore this spring in a bid to capture a share of the region’s growing private client market. LG’s Singapore launch, which will go live in the coming months through an alliance with local outfit PK Wong and Associates, marks the City law firm’s first base in Asia.

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LG and Hogan Lovells have advised on the sale of London’s Sanderson Hotel and St Martins Lane Hotel to Middle Eastern investor Capital Hill Hotels for £192m. LG advised Capital Hill on the sale, with London corporate partner and hotel sector head Michael Lacey at the helm, alongside City real estate partner Malcolm Headley. The firm advised Capital Hill on the purchase, management agreements, asset management matters and its new bank facility.

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LG has moved to rebuild its City finance practice with a team hire from Stephenson Harwood. Real estate finance consultant John Fox and senior associates Matthew East and Simon Elphick will all join LG as partners in March.

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LG repaid almost half of its £9.6m worth of loans during 2010-11 due to “continued positive cashflow”, according to the firm’s latest limited liability partnership (LLP) accounts. The Companies House filings show that LG paid back £4.1m of its loans and overdrafts, which had been largely used to fund the property refurbishment carried out when the firm moved to its London Bridge offices in 2007, reducing its debt to £5.5m.

legalweek

LG commerce and technology partner Richard Marke has left the firm to join Bates Wells & Braithwaite, with news of his departure coming as it emerged that the firm has asked private client partner Caroline Garnham to leave the partnership due to a conflict of interest. Marke joined UK commercial firm Bates Wells last month as a partner in the firm’s corporate and commercial practice.

legalweek

LG is to lose a trio of finance and restructuring partners to Pinsent Masons, taking the number of London partners to hand in their notice since September to eight. Head of finance and restructuring Nicholas Pike, head of restructuring and insolvency Tom Withyman and restructuring and insolvency partner Steven Cottee are all set to join Pinsents’ London banking and restructuring practice in the coming months.

legalweek

Dechert is to further bulk up its City arm with the hire of LG banking and finance partner Charles Malpass, with the recruitment marking Dechert’s fifth partner hire in London since April. The highly-regarded partner is set to join Dechert’s London banking and finance team in January next year along with associate Catherine Gooding.

legalweek

SJ Berwin and LG have picked up lead roles as high street retailer Debenhams signed up to space from British Land for its new London headquarters. British Land has agreed to pre-let 145,000 sq ft of office space to the retailer in a new office building in Regent’s Place due to be completed in 2013. Debenhams will occupy around 40% of 10 Brock Street, which is being developed as part of British Land’s 500,000 sq ft North East Quadrant (NEQ) mixed use site.

legalweek

Brown Rudnick has bulked up its London arm with the hire of LG intellectual property (IP) and media head Georgie Collins. Collins joined the firm last week after three years with LG, where she has been a partner since 2010 and practice head since 2008. Her practice focuses on both contentious and non-contentious IP matters with particular experience in international and cross-border disputes. Her departure leaves LG with no partners in its IP 
and media group.

legalweek

LG is expanding its finance practice through the hire of Squire Sanders Hammonds partner Iain Shurwood, with the addition coming as the UK firm prepares to lose a trio of litigation partners. Shurwood will join LG next month, having been a partner at legacy Hammonds since 2008. He was previously a senior associate at Denton Wilde Sapte, which merged with US law firm Sonnenschein Nath & Rosenthal in September last year.

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LG is set to lose a trio of financial litigation partners to DLA Piper in London. Jeremy Andrews, Jean-Pierre Douglas-Henry and James Curle handed in their notice earlier this month and are set to join DLA Piper after serving out some or all of their six-month notice period.

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LG and Berwin Leighton Paisner (BLP) are among a number of firms to have taken roles on the £139m sale of Pinsent Masons’ City headquarters. BLP advised the purchaser, German fund manager Hannover Leasing, with a team led by commercial real estate partner Graham Lloyd-Brunt and real estate finance partner Jo Solomon.

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LG has won a high-profile role to advise the newly-appointed liquidators of Stanford International Bank (SIB) following its 2009 collapse amid a billion-dollar 
fraud scandal. The UK law firm is acting for accountancy firm Grant Thornton, which was appointed to handle the liquidation in May after former liquidator Vantis was removed in June last year.

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Reynolds Porter Chamberlain (RPC) and Gateley look set to enter Legal Week’s 2010-11 rankings of the top 50 UK law firms by revenue. Gateley will make its debut in the table, which will be published in full in the next edition of Legal Week (21 July), on the back of a 23% hike in turnover to £63m, up from £51.2m in 2009-10.

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Bird & Bird is set to target standalone UK tax advisory work after sealing the hire of a second City tax specialist. The law firm has recruited LG partner Julian Hickey to practise alongside UK tax head Mathew Oliver – currently the firm’s only dedicated London partner in the practice area.

legalweek

LG’s real estate team has tightened links with two key clients, winning a sole advisory appointment for pension fund PAT and a first-time mandate from hotel group Malmaison. The firm was named as sole real estate adviser to PAT, the trustee responsible for insurance group Pearl’s pension scheme, last month after a pitching process carried out by PAT’s fund manager DTZ Investment Management. LG head of real estate Richard Miles is leading the relationship.

legalweek

LG has appointed new leadership for its dispute resolution and real estate groups as the current heads’ terms draw to a close. Insurance and reinsurance disputes partner David Breslin has taken over as head of the disputes practice from Andrew Witts, who has taken up the senior partner role at the firm.

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