Elisha Juttla
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Articles by Elisha Juttla
UK Competition Reform Bill faces axe as PM shifts priorities
The UK Competition Reform Bill, which had been expected to make sweeping changes to merger control processes, is likely to be shelved, according to one source familiar with its legislative progress and another citing briefings. Unveiled as a priority in the King’s Speech on 13 May, the Bill’s rationale would have been to improve the Competition and Markets Authority’s (CMA) “accountability to Parliament, businesses and the public”.
Meal Deal Maker: LB lunches with top City partners - Skadden's Rich Youle
In the latest in Legal Business’s Meal Deal Maker series, Skadden private equity co-head and London managing partner Rich Youle discusses the best things about being a deal lawyer, the most influential deals of his career, and his go-to snacks to get him through a long negotiation. He also talks up the the value of relationship-building in private equity, reminisces about the legendary deal-closing celebrations of old, and reveals why he opted against pursuing a career as a spy.
Meal Deal Maker: LB lunches with top City partners - Clifford Chance's Melissa Fogarty
In Legal Business’s new Meal Deal Maker series, Melissa Fogarty, co-head of Clifford Chance’s corporate practice, reveals her sandwich of choice from Pret, reflects on what’s shaped her dealmaking over the past two years, and explains how she stays calm on big deals. She also shares some of the best ways she’s celebrated a deal closing (karaoke included), and why nothing beats unwinding by cooking a roast dinner for her children.
Meal Deal Maker: LB lunches with top City partners - Weil's Tom Richards
In Legal Business’s new Meal Deal Maker series, Tom Richards, co-head of Weil’s London finance practice, reveals his favourite meal deal and discusses everything from what he enjoys most about being a deal lawyer to his go-to snack for powering through long negotiations. He also shares how he celebrates a deal closing, his top tips for staying calm under pressure, and his love for Tangfastics.
Paul Weiss hires Akin disputes head for London litigation launch
Paul Weiss is set to hire Richard Hornshaw, Akin’s international head of disputes, to kickstart a litigation team in London. Hornshaw, recognised as a Legal 500 leading partner for premium commercial litigation, represents financial institutions in cross-border disputes, with a focus on finance and securities law, as well as restructuring and insolvency.
Revolving Doors: Quinn Emanuel’s Bremen departs while Simpson Thacher hires two in the US
James Bremen, the chair of Quinn Emanuel’s construction practice, has left after eight years to join the independent litigation firm Joseph Hage Aaronson. He will take on the role of presiding partner, bringing with him Quinn partners James Mayers and Mark Grasso. The firm will be rebranded as Joseph Hage Aaronson & Bremen from next month.
Meal Deal Maker: LB lunches with top City partners
In the first of Legal Business’s new Meal Deal Maker series, Gavin Gordon, chair of Willkie’s European private equity team, picks his favourite meal deal and discusses everything from his most exciting deal to his tips for future dealmakers. He also shares his insights into why sometimes the best thing about being a deal lawyer can also be a negative, what he’s discovered about himself since stepping into management, and his love of a proper charcoal barbeque.
Finding the right fit: the duo behind Davis Polk's long-awaited London restructuring launch
With just 12 partners in London, Davis Polk’s approach to recruitment in the capital has been conservative to say the least. Until last year, the US firm had not made a London lateral hire since 2013. However, that all changed in 2024 with the additions of A&O Shearman private equity partner Gordon Milne and Luke McDougall, the former global co-head of finance at Paul Hastings.
‘Define “having it all” on your own terms’ - White & Case’s Sonica Tolani on thriving in City law
For International Women’s Day, Sonica Tolani, an M&A partner at White & Case in London, discusses the importance of having open discussions and why invisible barriers still exist for women in law. What do you most enjoy about practising law and M&A law specifically?
‘Eventually you have to learn to trust yourself’ - Simpson Thacher’s Deborah Gruen on succeeding in law
Deborah Gruen, a former US Paralympic swimmer, now funds partner at Simpson Thacher in New York, reflects on the key skills needed to thrive in corporate law and the importance of setting personal goals Why did you decide to become a funds lawyer?
'Debunk assumptions by doing surprising things’
Ahead of International Women’s Day Nicole Kar, global co-chair of antitrust at Paul Weiss, discusses thriving in the deep end and why there is still more room at the top for women in law. Why did you decide to be a lawyer?
Gibson Dunn takes heavyweight Sullivan & Cromwell duo in major London play
Gibson Dunn has set down a marker in London with the hire of high-profile Sullivan & Cromwell finance and restructuring duo Presley Warner and Chris Howard. The duo – who also both previously worked together at Freshfields – leave Sullivan after more than a decade at the elite US firm, which is renowned for rarely losing partners.
Paul Weiss PEP soars to $7.5m as revenue sees double-digit growth
Paul Weiss has reported its financial results, with revenue up 32% to $2.63bn from $2bn, nearly tripling last year’s 11% growth. PEP grew 15% to $7.5m from $6.5m, mirroring last year’s increase, while revenue per lawyer rose 6% to $2.1m from $1.98m. Net income for equity partners surged 28% to $1.5bn.
Paul Weiss PEP soars to $7.5m as revenue sees double-digit growth
Legal Business Paul Weiss has reported its financial results, with revenue up 32% to $2.63bn from $2bn, nearly tripling last year’s 11% growth. Subscriber Access You must be logged in to view full premium content. Links
Gibson Dunn takes heavyweight Sullivan & Cromwell duo in major London play
Legal Business Gibson Dunn has set down a marker in London with the hire of high-profile Sullivan & Cromwell finance and restructuring duo Presley Warner and Chris Howard, Legal Business can reveal. Subscriber Access You must be logged in to view full premium content. Links
Freshfields launches in Boston with Latham private capital M&A hire
Legal Business Freshfields has hired Latham & Watkins private capital M&A partner Matthew Goulding to launch its new Boston office, with additional hires expected in the coming months. Subscriber Access You must be logged in to view full premium content. Links
Revolving Doors: Clifford Chance, Akin and Dechert bolster PE and finance teams in the City
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Revolving Doors: Clifford Chance, Akin and Dechert bolster PE and finance teams in the City
Leading the leading lateral moves this week, Clifford Chance strengthened its private capital team with the hire of Patrick Scott as a partner in London. Scott joins from private equity firm KKR, where he served as European counsel since 2019, following previous roles at Simpson Thacher and Freshfields. Subscriber Access You must be logged in to view full premium content. Links
Chance moment: CC doubles down on private credit, but will flurry of hires pay off?
Legal Business As statements of intent go, Clifford Chance has kicked off 2025 with a strong message about its private capital ambitions. Subscriber Access You must be logged in to view full premium content. Links
‘Fresh perspectives’ - Gibson Dunn's new London co-heads set out City plans - Legal Business
Legal Business ‘It’s exciting for people joining the firm because there is plenty of growth potential,’ says Rob Carr, one of the newly appointed co-partners in charge at Gibson Dunn in London, as he sits down with fellow office head Osma Hudda for their first interview since taking on their new roles. Subscriber Access You must be logged in to view full premium content. Links
White & Case breaks $3bn revenue barrier while PEP jumps 27%
White & Case has kicked off the US financial reporting season with a 12.5% increase in global revenue to $3.32bn for 2024 and a 27% increase in profit per equity partner (PEP), surpassing $4m for the first time. Revenue per lawyer (RPL) increased by 10.6%, rising from $1.16m to $1.28m, driven by strong growth in key practice areas such as antitrust, commercial litigation, debt finance, and M&A.
White & Case breaks $3bn revenue barrier while PEP jumps 27%
White & Case has kicked off the US financial reporting season with a 12.5% increase in global revenue to $3.32bn for 2024 and a 27% increase in profit per equity partner (PEP), surpassing $4m for the first time. Revenue per lawyer (RPL) increased by 10.6%, rising from $1.16m to $1.28m, driven by strong growth in key practice areas such as antitrust, commercial litigation, debt finance, and M&A.
‘A well-kept secret’ - inside Covington’s City corporate push
While other flashier US firms might attract more headlines for their London growth strategies, Covington & Burling has for some time been building up a sizeable presence in the capital. Over the last decade, the firm’s City base – which dates back to 1988 – has grown its headcount by around 50%, and is now home to around 140 lawyers.
Former McDermott London boss set to join Pillsbury
Hamid Yunis, who stepped down as McDermott London managing partner last June, is set to move to Pillsbury Winthrop Shaw Pittman, according to sources familiar with the situation. Yunis, who was succeeded by leveraged finance partner Aymen Mahmoud as London managing partner last year, with Graham White also appointed as senior partner, departs McDermott after more than eight and a half years. He joined the firm from Taylor Wessing in 2016, where he led the healthcare group.
As the new year unfolds, Goodwin has launched its seventh European office in Brussels, hiring antitrust partner Stephen Mavroghenis from Quinn Emanuel. He was previously head of then-Shearman & Sterling’s Brussels office and co-head of its global antitrust group.
Revolving doors: Skadden and Goodwin launch new offices as Weil and Clifford Chance add key laterals
As the new year unfolds, Goodwin has launched its sixth European office in Brussels, hiring antitrust partner Stephen Mavroghenis from Quinn Emanuel. He was previously head of then-Shearman & Sterling’s Brussels office and co-head of its global antitrust group.
Clifford Chance snaps up Skadden M&A heavyweight Embley
Clifford Chance has hired one of the most well-known M&A partners in the City, Bruce Embley, who previously served as co-head of Freshfields’ global M&A client group before leaving for Skadden in 2020. Embley (pictured) recognised as a Legal 500 leading partner for premium M&A deals, is leaving Skadden after just over four years to return to the magic circle, after spending the first 15 years of his career at Freshfields.
'A clear shift toward fewer but larger deals' – mega-deals fuel growth as partners predict 2025 M&A trends
Leading M&A partners are predicting an increase in deal activity in 2025 driven by sectors including tech, financial services and private capital, as full year M&A legal adviser rankings from the London Stock Exchange Group (LSEG) highlight the increasing influence of top US firms on the market. The LSEG report shows global M&A activity increased by 10% during 2024, reaching a total value of $3.2trn.
'$20m isn't much once you deduct the essentials' – LB's best quotes of 2024
From bumper pay cheques to internal politics and an extremely competitive lateral recruitment market, 2024 hasn’t been short of legal headlines. But what do partners really think about what’s been happening? Here are some of Team LB‘s favourite anonymous quotes of the year, from partners who weren’t afraid to speak their mind.
‘You need people from different backgrounds in leadership positions’
Jay Sadanandan has arrived to our interview a few minutes late, armed with hot chocolates for everyone. It’s a thoughtful gesture that is firmly in keeping with her belief in the importance of inclusion. ‘I grew up in a kampong – a traditional village in Singapore,’ she says as she reflects on her 27 years in the legal profession. Not only was Sadanandan the first in her family to attend university, she also broke new ground as the first from her village to do so.
Cleary and White & Case lead on Canal+ IPO in London
Elite US firms played a key role as French broadcaster Canal+ made its debut on the London Stock Exchange, becoming one of the first companies to list under the FCA’s new rules. On 16 December, Canal+ officially listed on the LSE, supported by cross-border teams at leading US law firms.
Odimba-Chapman succeeds Bates as Clifford Chance London managing partner
Clifford Chance has named employment partner Chinwe Odimba-Chapman as its new London managing partner, succeeding Michael Bates. Stepping into the role as of 1 January, Odimba-Chapman (pictured) will be CC’s first black London managing partner. She currently serves as the firm’s global people and talent partner. Bates, who is a Legal 500 Hall of Famer for corporate M&A, is stepping down at the end of this year after seven years in the post and moving back into a fee-earning role.
Sidley makes key TMT hire in London as CMS practice head comes on board
Sidley Austin has sealed the hire of CMS TMT head Clive Gringras, a Legal 500 Hall of Famer who has spent his entire career at CMS and predecessor firms Olswang and Nabarro. Gringras (pictured) made partner at CMS in 2000 after moving over in the tripartite merger of Olswang, Nabarro and CMS in 2017, before which he was head of technology at Olswang.
'How hard are you prepared to work?' – partners who've made it on how to build a book of business
‘If anyone had all the right answers, they’d be getting all the work in the City,’ jokes Cleary London private equity partner Michael James, when asked for tips on how junior partners should start building up the books of business needed to guarantee their long-term success.
Paul Weiss joins ranks of major US firms scaling back in China with Beijing exit
Paul Weiss is set to close its Beijing office by the end of the year, becoming the latest in a series of major US law firms to scale back operations in China. The New York-headquartered firm has had an office in Beijing since 1981, when its became its first office outside the US. The firm will continue to operate Asia offices in Hong Kong and Tokyo, which opened in 1983 and 1987 respectively.
Office closures Legal News, Analysis and Updates
Paul Weiss joins ranks of major US firms scaling back in China with Beijing exit Posted on | Paul Weiss is set to close its Beijing office by the end of the year, becoming the latest in a series of major US law firms to scale back operations in China. The New York-headquartered firm has had an office in Beijing since 1981, when its became its first office outside the US. The firm will continue to operate Asia offices in Hong Kong and Tokyo, which opened in 1983 and 1987 respectively.
Kirkland & Ellis and A&O Shearman advise as Northvolt begins Chapter 11 proceedings
Kirkland & Ellis and A&O Shearman are advising Swedish battery maker Northvolt as it enters Chapter 11 restructuring proceedings, with court filings stating that a total of $5.84bn in total funded debt obligations has left the company in a ‘dire’ liquidity position.
Kirkland snaps up Clifford Chance fund finance partner in London
Kirkland & Ellis has hired long-time Clifford Chance fund finance specialist Andrew Husdan as a partner in London, according to sources familiar with the matter. Recognised as a leading individual in fund finance by Legal 500, Husdan’s expertise spans traditional financings, hybrid structures, NAV lending, and preferred equity arrangements. He will leave CC after nearly 20 years. He joined the firm in 2005 and made partner there in 2016, and his major clients include Cinven, Permira, and CVC.
Restructurings pick up as Davis Polk makes European bow while Plainer moves to DLA
It’s been an active start to the week for restructuring lateral moves in the City, as Sidley co-heads Mark Knight and Jifree Cader have joined Davis Polk, and Adam Plainer, co-chair of Dechert’s global restructuring group, has moved to DLA Piper. These moves align with a rise in restructurings, with the latest data from the Insolvency Service showing a slight 2% increase in corporate insolvencies in September compared to the previous month.
'Setting ourselves up for the future' – McDermott ups London trainee pay to £70k
McDermott Will & Emery has followed Davis Polk’s lead, raising its London trainee pay to match the highest market rates. Effective from 1 January, the Chicago-headquartered firm will offer a salary of £65,000 in year one, rising to £70,000 in year two. The rates previously sat at £53,000 and £58,300 respectively.
Life During Law - Penny Angell
In my second year studying law at university, I fell in love twice. Not only did I meet my future husband, but I also did a vacation scheme at pre-merger Lovells and realised I had also found my career soulmate. Last year was quite special, as I celebrated my 30th anniversary at Hogan Lovells and my 25th wedding anniversary. Subscriber Access You must be logged in to view full premium content. Links
McDermott snaps up CMS international private equity co-head in London
McDermott has announced today (28 October) that Jason Zemmel (pictured) has joined the firm’s transactions group as a partner. Recognised as a Legal 500 leading partner for mid-market private equity deals, Zemmel previously co-headed the international PE group at CMS. He brings with him experience in M&A and PE matters, particularly in the healthcare sector.
‘A true win’ - Baker McKenzie on record Ecuador $1.6bn debt-for-nature swap and winning Finance Team of the Year
Baker McKenzie won Finance Team of the Year at the Legal Business Awards for representing project manager Oceans Finance Company in structuring and implementing the government of Ecuador’s $1.6bn debt-for-nature swap and providing $300m for the Galápagos Islands – the largest marine conservation debt conversion to date.
Late bloomer: how Paul Weiss made up for lost time on the global stage
For years, while rivals like Kirkland & Ellis, Skadden and Latham & Watkins disrupted the London legal market, Paul Weiss had bucked the global trend, practising only US law from small offices outside of its domestic heartlands. Its much-lauded English law launch last year marked a dramatic u-turn, with the firm following up with a new European office in Brussels earlier this year, as well as the launch of a fifth US office in Los Angeles on home ground.
Sidley expands with double high-yield hire from Latham
Sidley Austin has bolstered its London office by hiring high-yield partners Scott Colwell and Patrick Kwak from Latham & Watkins. This move is the latest in a series of departures from Latham to Sidley, following the August exit of five sponsor-side leveraged finance partners, including Jayanthi Sadanandan and Sam Hamilton, who joined Sidley earlier this month.
Latham rewards more than 20 star performers with new ‘super points’ rank
More than 20 of Latham & Watkins’ equity partners have made it into the elite firm’s ‘super points’ band, which is intended to better reward star performers by allowing them to earn nearly double the profit share of those at the top of the firm’s core lockstep. Legal Business has learned that 22 Latham partners now sit within the so-called ‘super points’ tier.
Paul Weiss strikes Kirkland again, while Debevoise, Weil and Goodwin bolster London ranks
Leading the latest moves, Paul Weiss hired Kirkland financial regulatory partner Prem Mohan as head of European financial services regulation in London. Recognised as a Legal 500 leading partner in regulatory/non-contentious financial services, Mohan advises on regulatory issues in structuring private funds and handling M&A and private equity deals. His hire follows the addition of restructuring and special situations partner Kai Zeng who joined in August.
‘We have a remit to build’ – ex-Latham duo on ambitions for Sidley's new City lev-fin team
In their first media interview since leaving Latham & Watkins, Jayanthi Sadanandan and Sam Hamilton discuss their new roles as global co-heads of Sidley Austin’s leveraged finance practice. ‘Sidley wants to provide a best-in-class financial sponsor legal service. Sam and I have built out a practice before and we know how to do this,’ says Sadanandan as she and Hamilton sit down to talk to LB on their first day at Sidley.
‘A difficult decision, but one that was needed’ - Hogan Lovells to shut three international bases
Shortly after the news broke that A&O Shearman would be shutting down its South Africa office, Hogan Lovells has announced it will close three global offices in the coming months. The firm said closing the Warsaw, Sydney and Johannesburg offices is part of its strategic approach to focus on key markets such as London, New York, California, Texas, Washington DC, and other international hubs.
McDermott sets sights on big-hitters in London as private client team moves on
McDermott Will & Emery is pushing forward with ambitious plans to prioritise its ‘power alley’ transactional practices in London, following the departure of its last remaining private client partners in London.
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