The Legal 500

M&A dealflow returned to some level of normality in 2010 after a stagnant few years. While levels are some way off their pre-recession highs, firms have been buoyed by an increase in activity almost across the board. Global M&A totalled $2,122.7bn for 2010, up 24.7% from 2009, with deal volume also up by 23.4% at 11,921 announced deals compared to 9,659 for 2009.

European M&A was up 41% year on year, topping $645.7bn in 2010, up from $459.4bn in 2009; this will have been music to law firms’ ears, as the developed economies struggled to lift themselves out of the mire. The larger international firms have largely benefited from deal activity emanating from emerging markets, as western investors look for high-growth investment opportunities; a new breed of emerging markets client has come to the fore looking to invest in more stable economies as well as emerging economies. If anything the likes of Linklaters LLP, Slaughter and May, Clifford Chance and Allen & Overy LLP, along with a handful of US firms, have tightened their grip on the market and are beginning to move away from an increasingly crowded mid-market.

On the private equity side, the market had its busiest year since 2007 globally, totalling $235.5bn worth of deals, up 92.5% compared to 2009 ($122.3bn), representing 11.1% of global M&A compared to 7.2% in 2009. Activity has been driven as much by houses regaining their appetite for significant investment as looking to exit via secondary buyouts. In the City, US firms are finally building credible alternatives to the UK firms. Although the likes of Clifford Chance remain at the top of the market, Weil, Gotshal & Manges, Latham & Watkins LLP and Kirkland & Ellis International LLP are hot on their heels. Notable developments on the private equity adviser landscape include the investment being made by Ropes & Gray LLP’s London office, hiring Kiran Sharma and Peter Baldwin from DLA Piper UK LLP and Jones Day respectively.

2010 saw renewed activity in equity capital markets, and several new IPOs were launched: a substantial shift from the quieter conditions of 2009. While there is still widespread caution among investors and companies, London’s largest-ever international IPO, Glencore, went ahead on the London Stock Exchange in May 2011, and has opened up the market to increased deal flow. The mining and natural resources sectors, as well as emerging markets, remain areas of focus for many firms.

In competition, those firms with an international focus and a strong UK practice have remained busy in mergers despite the downturn, where volume work has given way to fewer but more complex transactions, often requiring innovative solutions. On the litigation front, appeals against administrative decisions of the authorities are on the rise, and there has been a significant surge in private damages actions before the Competition Appeal Tribunal and the High Court. Several key legislative developments at UK and European level have also sparked an increase in compliance advice, and one of the major developments on the horizon is the proposed merger in the UK of the OFT and Competition Commission. Public procurement matters look set to feature increasingly heavily in the future.

New to the chapter this year is the Commercial contracts section, covering work previously covered under Outsourcing and procurement, for both public and private sector clients, and also taking into account other commercial work, such as complex joint ventures and distribution agreements.

New to this year’s edition, this section covers work previously covered under Outsourcing and procurement section, for both public and private sector clients, and also takes into account other commercial work such as complex joint ventures and distribution agreements. The focus is on practices with discrete, dedicated commercial capabilities, although firms with strong transactional capabilities are also recognised. Credit is given to practices with a longstanding track record in commercial mandates, core client relationships, and experience in large-scale and complex work.

Baker & McKenzie LLP’s dedicated commercial practice has a wealth of experience in contractual and advisory work across a broad spectrum of industry sectors. Duncan Reid-Thomas and Ilana Saltzman (who is ‘very quick to respond with great ideas and legal ability’) lead a ten-partner team that delivers ‘excellent service and industry knowledge’ to a client base ranging from IT giants such as Google to household names in the retail and fashion industry including Abercrombie & Fitch, and has particularly strong capability in customer-led BPO. 2010 highlights included winning Porsche UK as a new client, and advising Recall Limited on the negotiation of a large storage services contract with a major UK bank. Outsourcing specialist Richard Hawtin is also recommended.

Bird & Bird has a team of 16 partners with expertise in BPO and ITO projects, and is valued for its ‘consistently high-quality, proportionate commercial judgement’. In 2010 it advised Ofsted on the re-tender of its ICT services outsourcing project with Logica and its ‘RAISEOnline’ project with RM, and BT plc on the £640m extension of the MoD’s Defence Fixed Telecommunications Service. Joint head of international outsourcing Mark Leach is ‘someone you always want on your side in a commercial contract negotiation’; and Christian Bartsch’s ‘client relationship skills add real material benefit, ensuring a consistency of approach across matters and jurisdictions’. Peter Elliot heads the public procurement team, and healthcare expert David Ayers is also recommended.

Field Fisher Waterhouse LLP’s ‘invaluable industry knowledge’, and its 25-partner, cross-departmental outsourcing team, make it highly sought after among financial services institutions, FTSE 100 companies, and investors into the UK. Servicing both public and private sector clients, it advises on commercial agreements in the medical, IT hardware and media sectors, and is experienced in joint venture matters across the gas, financial services and retail industries. It assisted the Albanian Ministry of Finance in relation to mission-critical technology outsourcing, while highlights on the BPO side included winning the mandate to advise National Savings & Investments on its £1bn second-generation IT and BPO project. Technology and outsourcing specialist Michael Chissick oversees the commercial group, with Paul Barton providing public sector outsourcing and procurement expertise. Also recommended are: financial services expert Kirstene Baillie; Simon Briskman, ‘an excellent lawyer with good business sense and managerial skills; and Neil Wallis, for his ‘strong understanding of banks ’ needs’.

Clients are quick to highlight the quality and focus of the commercial practice at Reynolds Porter Chamberlain LLP, which fields a 12-partner team that ‘makes it a point of pride to have a strong commercial focus, providing advice that is commercially aware, realistic, concise and genuinely useful’. In line with the wider firm’s commitment to outsourcing and TMT-related commercial matters, 2010 saw the team grow significantly through the lateral hire of David Meredith and Andrew Sutherland from SJ Berwin LLP; anti-trust and competition partner Stephen Smith from Mayer Brown International LLP; and IP partner Clive Thorne from Arnold & Porter (UK) LLP. It handles commercial projects for leading brands such as Tesco and Associated Newspapers, advising the latter in 2010 on the restructuring of its entire distribution network. The ‘confident, reliable and commercial’ Sanjay Pritam is recommended, as is Oliver Bray.

Travers Smith LLP has a dedicated commercial practice, acting across all contract types for clients in a broad range of sectors. It draws praise for its ‘varied experience’ and ‘in-depth understanding of industry dynamics and appreciation of how best to tailor advice to the commercial realities of a business relationship’. Highlights for 2010 included advising Metro Bank on key outsourcing and supply arrangements necessary for the establishment of its business, and advising Firstsource Solutions on a five-year outsourcing services agreement with Barclays. Tom Purton heads the commercial team, and ‘proactively delivers very sensible solutions to difficult and complex questions, with an acute sensitivity to client needs’. Richard Brown is also recommended, for his ‘attention to detail and top-to-tail involvement’.

Addleshaw Goddard LLP has a strong commercial focus on the retail, financial services and public sectors, and has amassed an enviable client roster that includes Diageo, RBS and Manchester City Council. Jonathan Davey and his commercial team enjoy a strong reputation in large-scale outsourcing and procurement projects, and have particular strength in payment services contracting. 2010 highlights for the team included its reappointment to the commercial panels of Sainsbury’s, Post Office Financial Services and The Co-Operative Group; and advising Diageo on the outsourcing of facilities management services for all its sites across ten jurisdictions. Former Taylor Wessing LLP partner Andrew Smith joined the practice in May 2011, bringing with him expertise in the consumer, travel and leisure sectors.

Allen & Overy LLP has the international footprint and depth of resources to handle major multi-jurisdictional transactions, and as such is a ‘go-to’ firm for strategic commercial deals. Jane Finlayson-Brown co-heads the outsourcing group, which has seen a marked increase in mandates in the financial services sector; highlights included advising Citibank on its procurement bid for the Department for Work and Pensions’ Simple Money Transmission Services project. On the commercial IP/IT front, Jim Ford and associate Naomi Leach advise the likes of Twentieth Century Fox on matters ranging from standard form retailer terms and conditions to sale agreements with online retailers.

Berwin Leighton Paisner LLP’s commercial practice benefits from a longstanding client base that includes Tesco, National Grid and Travelex, supplemented recently with new strategic instructions from Barclays Bank and Thames Water. The financial services, hotels, betting and gaming, and retail sectors are core areas of focus, and 2010 saw renegotiations dominate the transactional landscape, including acting for Barclays on its review of over 110 existing business-critical contracts across over 70 suppliers globally. It also advised on the drafting and negotiation of an outsourcing agreement for Guardian News & Media’s ‘Guardian Creative’ business. The ten-partner commercial team is led by Richard Shaw, while Mark Lewis heads up the outsourcing group.

CMS Cameron McKenna LLP ‘consistently meets KPIs, and delivers a good and proactive client management service’. Its approach has ensured that, in a year characterised by companies slimming down their commercial panels, the practice has seen new appointments with the likes of Royal Mail Group and Lloyds Banking Group. Its commercial expertise spans the financial services, transport and infrastructure, and TMT sectors, and in 2010 it advised Barclays Pension Fund Trustees on a major pensions administration outsourcing which involved South African offshoring matters, indicative of the practice’s cross-border capability. Outsourcing and data protection expert John Armstrong heads the practice, with the ‘diligent and thorough’ Ian Stevens and Chris Watson also recommended.

DLA Piper UK LLP’s commercial practice draws heavily on the firm’s market-leading outsourcing capability, which has the breadth and depth to span national and international projects for a balanced public and private sector client base. Kit Burden and his team of 20 partners and 55 associates provide ‘high-quality services’ to a client base that includes Verizon and UBS, with Burden singled out for his ‘approachable, likeable and controlled manner’. 2010 saw the team act for TUI on the global outsourcing of its desktop IT services, while outsourcing expert Mark Crichard advised King’s College Hospital on a new PPP project relating to pathology services, which involved an outsourcing contract valued at over £300m. As UK head of the firm’s IP and technology practice, Richard Bonnar is a prominent presence in public sector outsourcing; and Mark O’Conor is also recommended.

Freshfields Bruckhaus Deringer LLP has a market-leading transactional practice, which has led to significant mandates arising from its role in Geely’s $1.8bn acquisition of Volvo, and also has a dedicated commercial outsourcing capability, through Richard Lister and his 34-strong team. It is particularly strong in the financial services sector, with highlight transactions including advising Nomura on long-term transitional arrangements with Lehman Europe’s administrators following its acquisition of Lehman’s European and Asian businesses.

Herbert Smith LLP’s multidisciplinary team acts across the firm’s core focal areas of infrastructure, TMT, retail and financial services, and delivers ‘consistently strong and deep legal acumen and a high standard of commercial expertise’. Its deep and longstanding relationships with FTSE 100 and 250 clients means it is regularly called on to advise on major outsourcing and procurement projects, as well as on large-scale commercial agreements. Outsourcing and commercial contracts specialist Nick Pantlin combines ‘high energy, commitment and strong transaction management with keen negotiating and technical legal skills’, and advised Man Investments on a £220m outsourcing of valuation services and shareholder services provided to around 4,000 funds worldwide. TMT practice head Nick Elverston is also recommended.

Hogan Lovells International LLP combines day-to-day contractual work for the likes of Waitrose and Nintendo with large-scale outsourcing and procurement projects. It is ‘commercially oriented and focused on solving problems’, and clients particularly rate the ‘significant direct participation by partners where appropriate’; ‘technically strong commercial lawyer’ Paul Joukador and Mark Taylor are singled out. Highlights for 2010 included advising Citi Infrastructure Investors in relation to long-term management services agreements arising from its acquisition of a majority stake in DP World’s Australian shipping terminal operator business.

Linklaters LLP ‘holds its own among the Magic Circle’, thanks to its ‘good understanding of the issues facing the client’. Its ‘personable, professional’ cross-departmental team won mandates from British American Tobacco, Balfour Beatty and Lend Lease in 2010. TMT partner Richard Cumbley advised longstanding client BP on the $400m re-tendering of its global hosting outsourcing requirements, while on the procurement side Oliver Black advised Citylink Telecommunications on the application of procurement law to subcontracts.

David Isaac heads the outsourcing practice at Pinsent Masons LLP, which is ‘very responsive and provides an excellent overall level of service’. It has a very strong reputation in the infrastructure sector, with a strong public sector following, and combines that with a commercial client base that includes Alliance Boots and Balfour Beatty. In 2010 the team advised the Ministry of Defence on its global IT logistics outsourcing programme, and Dixons Retail on a joint venture with Phones4U. Among the 17 partners who focus on commercial outsourcing, Charles Park ‘provides an excellent service’; and Garfield Smith is ‘particularly strong on the strategic side, and invests considerable time and effort in building up effective long-term relationships’.

‘An outstanding organisation with excellent capability and detailed industry and market knowledge’, Slaughter and May’s commercial practice underpins the firm’s transactional offering and has a dedicated following among the FTSE 350. Its multidisciplinary capability spans complex outsourcing, joint venture, and contractual matters, with 2010 seeing it advise INEOS, the fourth-largest global chemicals producer, on a strategic joint venture with PetroChina, and Burberry on distribution, franchise and agency agreements worldwide. Rob Sumroy has ‘excellent knowledge of outsourcing, management contracts and dispute resolution’; and Jeff Triggs ‘gives great advice in very difficult situations’.

Ashurst LLP’s BPO and ITO mandates come from a broad array of sectors, although financial services and infrastructure-related work dominated in 2010. Highlights included acting for Visa Europe on the design, construction and ongoing management of IT solutions by one of its suppliers, and advising Babcock International in relation to a long-term, strategic umbrella agreement with the Ministry of Defence. Mark Lubbock is the key outsourcing figure.

Burges Salmon LLP’s commercial team is ‘very client focused’ and ‘always considers the long-term impact a solution may have on a client’s business’. It has a strong public sector following, but also receives mandates from corporate clients such as Coca-Cola and Thomson Reuters. 2010 saw it advise the Metropolitan Police Service on the exercise of the extension under contract of its IT outsourcing arrangements with CapGemini; and MITIE Group on a contract to deliver services to 11 Rolls-Royce group companies, following the manufacturer’s decision to consolidate its facilities management at multiple sites. The team is headed by ‘great communicator’ Philip Davey, and includes the ‘pragmatic and commercial’ Andrew Dunlop.

Eversheds LLP has ‘a deep understanding of the BPO sector’. Its reputation has attracted a broad corporate client base including Centrica, and in 2010 it saw further growth in the financial services sector. Highlights included advising Cleveland Police Authority on its ten-year, £175m strategic partnership agreement with Steria UK Limited, and acting for Sainsbury’s Bank on the outsourcing of its pet-insurance service. Simon Gamlin and IT outsourcing specialist Rex Parry are recommended.

Fladgate LLP advises on a broad spread of commercial matters, from public procurement and competition issues for the likes of ALControl to cross-border aviation contracts for Ruag Schweiz; its multi-jurisdictional capability has been in particular demand, with Andrew Kaufman recently advising a German bank on its review of customer conditions relating to an electronic banking system, including cross-border considerations. The practice is noted for ‘the way in which a single partner is careful to take care of the quality of the work and ensures that the relative specialists perform their work to a consistently high standard’. Eddie Powell heads the practice, and is ‘a very good client management partner’.

Latham & Watkins LLP’s global technology transactions practice combines ‘strong market knowledge with high standards of legal advice’, and ‘sets the benchmark for client care and general attentiveness at partner level’. Its strong financial services capability makes it a prominent fixture on major outsourcing matters, as illustrated by its advice in 2010 to Lloyds Banking Group on its first major strategic integration of the banking platforms of the former Lloyds TSB and HBOS banking groups. Andrew Moyle heads up the outsourcing practice, and is ably supported by Martin Cotterill, Gail Crawford and Luke Grubb.

Lawrence Graham LLP has a broad UK client base and a focus on the developing IT and outsourcing industry in India, which was reinforced by the lateral hire of Peter Brudenall from Hunton & Williams. Collectively the team acts for six of India’s top ten technology companies, as well as household names such as Body Shop and Carpetright. Recent highlights include advising C&C Groupon on a multimillion-pound outsourcing project to integrate the operations of the newly acquired Tennent’s and Gaymers businesses. Richard Marke is singled out for his ‘responsiveness and availability’.

Macfarlanes LLP has a strong mid-market offering, with a dedicated commercial practice advising a broad stable of international and domestic companies as well as a number of entrepreneurs and start-ups. Headed up by Jeremy Courtenay-Stamp, the four-partner team recently advised EJ Gallo on the transfer of its logistics and warehousing arrangements from the previous incumbent to Kuehne + Nagel. It also advises Universal Music Group on contingency arrangements relating to the manufacture and distribution of physical media across the EU.

Morrison & Foerster (UK) LLP’s track record in technology outsourcing makes it a regular fixture on transactions that require detailed understanding of technical matters, as reflected in its client base of leading technology companies such as NTT Data, and financial institutions such as Moody’s. Led by Alistair Maughan, the team continues to advise HMRC on a range of IT and sourcing matters, including the project to renegotiate its end-to-end IT outsourcing. David Skinner left the firm at the end of 2010, to establish outsourcing boutique Radiant Law.

Norton Rose LLP advises its prominent blue-chip client base on outsourcing and procurement matters, as well as acting for outsourced service providers, giving it a valued understanding of customer and supply-side requirements. Highlight deals for Mike Rebeiro’s team included advising Kiln Group on an agreement with French company Prima Solutions for the development of an in-house underwriting system and, in a reflection of its transport and infrastructure capabilities, advising Eversholt Rail on a series of IT and outsourcing contracts.

‘Invariably good and frequently excellent’, Olswang’s outsourcing team ‘always has an eye on the commercial requirements’, and is a leading choice for contractual matters for many FTSE 100 clients. Highlights included advising Orange on the outsourcing of its fixed and broadband telecoms network to BT, and T-Systems on the renegotiation of a large IT infrastructure outsourcing deal with Centrica plc. Dominic Dryden is recommended, as are the ‘terrific and extremely commercial’ Iain Stansfield, and new arrival Matthew Bennett, who ‘always sees the business objective’.

SJ Berwin LLP prides itself on its standalone commercial capability, and is appreciated for its ‘impressive level of knowledge, efficient and effective working relationships’, and ‘response times that are carefully calibrated to clients ’ needs’. Dedicated commercial contract matters make up a large proportion of the work for ‘forensically rigorous’ practice head Jeremy Schrire and his team, with 2010 seeing it act for Marks and Spencer plc on the planned restructuring of its logistics supply chain; the ‘terrific’ James Gill led on the deal. Andrew Shindler is also recommended.

The service provided by SNR Denton’s broad commercial team is ‘consistently excellent, customer focused, responsive and practical’. Its client list includes the likes of Argos, Honda, and the Ministry of Defence, and 2010 saw it secure new instructions in the financial services sector. Highlights included advising Baring Asset Management on several outsourcing contracts, as well as on its standard derivative trading documentation. Dan Burge’s knowledge of financial services issues is ‘second to none’, and Catherine Bingham has over 20 years of commercial contracts experience. TMT sector head Scott Singer is recommended for ‘leading complex negotiations and cutting through the detail’.

Simmons & Simmons handles a broad range of commercial work, encompassing multi-jurisdictional supply chain work and outsourcing projects in the firm’s core areas of financial services, TMT, life sciences, and energy and infrastructure. It also has a strong consumer product focus, and provided advice to HMV on ticketing arrangements with Ticketmaster relating to HMV’s merger with MAMA Group. It also advised Virgin Media on the outsourcing of its UK-wide warehousing and logistics function to Kuehne + Nagel. Mark Dewar heads the practice, and the ‘superb’ Sophie Lessar draws praise for her consumer and retail finance expertise.

Wragge & Co LLP’s ‘helpful and practical’ commercial team ‘always goes the extra mile for clients, and has a very friendly manner’. It has expertise across the private and public sectors, encompassing experience in financial services, food and drink, retail and utilities-related transactions. In 2010 it advised longstanding client Bird’s Eye on national logistics and warehousing projects, and, in a reflection of its increased activity in the Middle East, advised the government of Bahrain alongside the Health Authority Abu Dhabi on the operation and maintenance outsourcing of a 500-bed hospital. Peter Hall heads the practice alongside Birmingham-based David Hamlett, and clients also recommend the ‘exceptional’ David Lowe.

London-based Simon Stokes leads a team at Blake Lapthorn that focuses on outsourcing contracts in the banking, recruitment and non-profit sectors. Personnel-related BPOs were a strong focus for the team in 2010, drawing on Bridget Wood’s notable expertise in the recruitment sector.

Bond Pearce LLP’s team is valued for its ‘excellent attention to detail and professionalism’. Spread across the firm’s regional network, Nick Barwood’s group acts on logistics, distribution and supply chain outsourcing, as well as critical support services and BPO matters. Highlights for 2010 included being reappointed to Royal Mail Group’s commercial panel, and receiving new instructions from BHP Billiton and Virgin Money. ‘All-round expert’ Julian Hamblin and the ‘straight-talking’ Gareth Jones are recommended, as is the ‘very sharp’ Andrew Kimble.

At Jones Day, Jonathon Little and Julian Runnicles both focus on commercial work, and can draw on resources in the firm’s corporate, HR, pensions, tax and regulatory practices as necessary. Despite its relatively small size, the practice has a solid presence in the commercial sphere, with notable cross-border capability; highlights for 2010 included advising ETS Europe on international representation agreements for the delivery of its TOEFL test, and advising Goodrich Corporation in connection with its joint venture with Rolls-Royce.

K&L Gates’ ‘professional, lean team’ in London benefits from the firm’s wider global footprint, and is an active presence on major outsourcing mandates for a combination of customer and supplier clients. Highlights for 2010 included advising Williams Lea Limited on the global framework agreement for the provision of services to a leading Asia-based investment bank. Corporate partner Howard Kleiman and IT specialist Dominic Bray are the key figures.

Kemp Little LLP combines ‘cutting-edge IT and outsourcing expertise with reasonable prices’, and acts for a broad customer and supply-side client base that includes a number of FTSE 100 clients, notably Prudential plc. Headed up by outsourcing specialist Paul O’Hare, the team acted for Smiths Group on a number of strategic outsourcing projects, including the outsourcing of the hosting of its business-critical SAP application to AT&T; and advised Target Group on its agreement with Morgan Stanley to provide outsourced services for one of its retail structured investment portfolios.

At Mishcon de Reya, Kiran Sandford continues to grow the firm’s profile in the commercial sphere. It advises entrepreneurs and companies on bespoke arrangements as well as standard terms and conditions and day-to-day documentation.

Osborne Clarke is ‘very cost-effective and capable’, with ‘good breadth of expertise’ across its London and regional network. In 2010 it advised Eurostar International Limited on the outsourcing of its catering operation to Rail Gourmet UK, and, in a reflection of its cross-border capability, advised Indian outsourcing company Patni on a series of transactions with European public sector service providers to supply onshore and offshore services ranging from IT operations to research and development. Adrian Bott heads the practice.

Pillsbury Winthrop Shaw Pittman LLP’s global sourcing practice offers an integrated service to an impressive array of clients, with London-based Ian Ferguson and Tim Wright acting for the likes of Tesco Bank. In 2010 it advised GlaxoSmithKline in relation to a worldwide facilities management outsourcing initiative, a 12-month transaction culminating in the renegotiation of master services agreements with its chosen service providers.

Stephenson Harwood’s commercial outsourcing practice ‘emphasises industry experience and pragmatic advice’, a strategy that has allowed it to strengthen its key client relationships with the likes of Capita and KPMG. Highlights included advising SAIC on the renegotiation of its IT outsourcing arrangements with BP, and advising MMA Insurance on litigation support outsourcing between it and Parabis. John Buyers leads the team, and is ‘one of the best in the business’.

Taylor Wessing LLP ‘balances business understanding with pure legal advice’, and is ‘a quality outfit delivering excellent value’. It advises customers and suppliers in the financial services, infrastructure and public sectors on major IT and business outsourcing contracts. Graham Hann’s outsourcing team in London works closely with the firm’s European network in advising the likes of Lufthansa and Accenture on outsourcing projects. Glyn Morgan ‘gets straight to the point and is very clear in explaining the options available and the priority of his recommendation’.

Clients are quick to highlight Trowers & Hamlins LLP’s ‘responsive and flexible’ approach, and particularly value its ‘contribution of knowledge and experience from other relevant scenarios to assist in formulating approaches and strategies’. The commercial practice draws on the firm’s strong public sector capability, advising on outsourcing and procurement matters for local councils and government bodies. Helen Randall heads up the public sector commercial team. Paul McDermott is recommended for his ‘ability to translate difficult and specialist terms into layman’s language’.

Freshfields Bruckhaus Deringer LLP’s tax team has ‘excellent technical ability’ and is noted for its ‘very good strength in depth’ and ‘well-directed responses’; the client roster includes some of the country’s highest-profile blue-chip names, such as Barclays, Bank of England, Rolls-Royce, and Tesco. It acted for HSBC Bank on the tax aspects of its restructuring and refinancing of Eversholt Rail, and advised on ongoing work for Eurotunnel, and the Galliform Group. IPOs are an important feature of the group’s work; it recently acted on those of Betfair, Promethean World, and Essar Energy. The 12-partner offering is headed by Sarah Falk, who has ‘technical expertise beyond compare’; other recommended individuals include Richard Ballard, David Haworth, and Murray Clayson.

Linklaters LLP’s ‘very impressive’ seven-partner team is at the ‘top end of the spectrum’, and provides clients with an ‘excellent’ service. Areas of strength for the full-service group include M&A, equity fundraisings and other corporate finance, real estate, and transactions in heavily regulated sectors; notable clients include Deloitte Touche Tohmatsu, Capital Shopping Centres, and National Grid. It acted for RBS on various disposals including of certain Asian businesses, bank branches, and its Global Merchant Services division; and also advised Lloyds Banking Group on the restructuring of various liabilities. Clients praise the whole team, with group head Yash Rupal and Dominic Winter receiving particular mention.

Slaughter and May’s team attracts plaudits for its ‘platinum service’, coupled with ‘excellent technical ability’ and ‘first-class delivery’. Key clients include United Utilities, Goldman Sachs, Arsenal FC, Diageo, and Royal Mail. It acted for Prudential on its ultimately unsuccessful attempt to acquire AIA Group from AIG for $35.5bn, and for Santander UK on its agreement to acquire parts of the banking businesses of RBS, involving 311 branches nationwide. Group head Steve Edge is ‘technically brilliant’, and Mike Lane, Sara Luder, and ‘real asset and value-adder’ Graham Airs are also recommended.

Allen & Overy LLP’s eight-partner group demonstrates ‘excellent business acumen and industry knowledge’ and has noteworthy capabilities in areas such as funds, structured finance, banking matters, and innovative real estate issues; key clients include Royal Bank of Canada, BNP Paribas Fortis, and Misys. Significant matters included advising Goldman Sachs International and others, as sponsors, on Ocado’s IPO, and Nationwide Building Society on a residential mortgage backed securitisation. Patrick Mears, Lydia Challen, and Christopher Harrison are key figures.

Clifford Chance provides ‘extremely good, technically sound’ advice, and acts for a host of blue-chip clients, including Barclays, BlackRock, Legal & General, and RBS; areas of strength include Islamic finance, private equity and funds work. The team advised Eurostar on the implementation of its ‘Futur Eurostar’ project, and Babcock & Brown on the sale of a 50/50 joint venture portfolio of wind farms and wind energy service companies. Nina Buchan, David Harkness and Etienne Wong are highly regarded by clients and peers alike.

Herbert Smith LLP has ‘particularly strong business acumen’ and ‘focuses on getting the job done’. It acts for a range of important clients such as BAA, British American Tobacco, Stagecoach, and BSkyB, with areas of expertise including insurance, investment funds, energy, outsourcing, real estate, and corporate rescue and restructuring. It advised EDF on the UK tax aspects of the £5.8bn sale of its regulated and non-regulated network of distributions assets to an overseas buyer, and Bharti Airtel on its complex, multi-jurisdictional $10.7bn acquisition of Zain Africa. Recommended individuals include Bradley Phillips, Howard Murray, and Neil Warriner.

Ashurst LLP’s six-partner practice receives outstanding praise from clients; its advice is ‘always appropriate, commercial and wonderful value’. Real estate, structured finance, and private equity are all areas of strength, and key clients include British Land, REO, Crossrail and Tesco. Matters of note included acting for RBS and a consortium of banks on the possible creation of a pan-European card scheme, and for the shareholders of Ontex on the sale of the company to Goldman Sachs and TPG. John Watson is ‘brilliant, and has one of the best minds in the profession’, and Alexander Cox is ‘dedicated and knowledgeable’. Simon Swann made partner in 2010.

Berwin Leighton Paisner LLP’s large team provides an ‘excellent’ service, with clients noting the seamless way in which its various teams operate together. Areas of strength include real estate, funds, securitisation and international matters. Landmark matters for the firm included acting for JP Morgan Asset Management on its £557m acquisition of Bishops Square, and for Tesco on a large securitised property-backed bond issue. Practice head Michael Wistow is a ‘leading’ figure noted for his outstanding technical understanding of securitisation; Charles Goddard is an ‘excellent deal adviser’; and John Overs is also recommended.

Hogan Lovells International LLP provides ‘consistently high standards of service and support’ to key clients such as Prudential, SABMiller, ITV, and Henderson Global Investors. Key matters for the team included acting for Straumur-Burdaras Investment Bank on the €2.3bn restructuring of creditor claims pursuant to a court-approved composition agreement, and for Santander on the integration of Alliance & Leicester’s business in the Santander Group. Head of the practice Karen Hughes is popular with clients, and Kevin Ashman and Philip Gershuny are also recommended.

Norton Rose LLP has a ‘solid, very consistent’ offering, and notable expertise in asset finance and Islamic finance. The team advised AXA on the £2.75bn sale of its UK-based traditional life and pensions businesses, its IFA protection and corporate pension businesses, and its annuity businesses to Resolution; and acted for International Innovative Technologies Limited in the UK’s first-ever sukuk. Recommended partner John Challoner is ‘personable’ and ‘identifies the problem’, and Dominic Stuttaford has a ‘clear and pragmatic’ approach.

Travers Smith LLP provides ‘well-calibrated’, ‘clear’ and ‘concise’ advice, with private equity matters an area of great expertise. The team acted for Bridgepoint on the sale of Pets at Home to KKR for £955m; the Peel Group on the sale of the Trafford Centre to Capital Shopping Centres; and Firstsource Solutions on an outsourcing agreement with Barclaycard. Simon Yates is appreciated for his ‘sensible, pragmatic advice’, and Kathleen Russ is also recommended.

Baker & McKenzie LLP provides ‘detailed, responsive, real-world’ advice, and has notable specialisms in transfer pricing and cross-border matters. It provided UK tax planning advice to Emerson, the NYSE-listed global manufacturing and technology company, on its $1.5bn acquisition of Chloride Group. Group head Alex Chadwick is recommended.

CMS Cameron McKenna LLP’s ‘professional, client-oriented’ advice is much appreciated by clients, who praise the team’s responsive and helpful attitude. Strengths include structured finance and cross-border transactional matters. Mark Nichols has expertise in M&A and private equity matters, and practice head Richard Croker specialises in real estate and fund structuring.

Latham & Watkins LLP has an enviable international profile and expertise in global and structured finance matters. It acts for many blue-chip clients including JP Morgan, SAB Miller, and Barclays, and advised Qatar Holding (a wholly owned subsidiary of Qatar Investment Authority) on its acquisition of the Harrods Group. Sean Finn and Daniel Friel are recommended.

Macfarlanes LLP ‘understands the needs of the client’, and has ‘excellent commercial sense’. The team is active in investment funds, including the structuring of private funds, and transactional matters, and recently advised Haymarket Financial on the tax structuring of its €400m fundraising with the Australia Future Fund. Ashley Greenbank and Damien Crossley are the figures to note.

Nabarro LLP has an excellent name in property-related corporate tax matters, and is also notable for its expertise in large international joint ventures and funds. It acted for Land Securities on the sale of 20 Fenchurch Street to a newly formed partnership between the client and Canary Wharf Group. Clients note the ‘high technical ability’ of the group and also its ‘friendly approach’; Michael Cant is ‘particularly strong in property-related transactions’.

Olswang’s team is ‘very responsive and client focused’, with notable expertise in media, technology, telecoms, gambling and leisure matters, and an increasing international profile. It acted for the management team of Shed Media on their £99.9m takeover of the company, backed by Warner Bros Entertainment. Mark Joscelyne is recommended, and Graham Chase has ‘first-class’ technical knowledge.

Strengths of SJ Berwin LLP’s team include real estate and private equity funds matters. It acted for Pantheon on the $775m acquisition of the Pantheon business by AMG from Russell Investments and the reorganisation of the business into a UK LLP. Practice head Heather Corben is well respected in the industry, and Gareth Amdor is also recommended.

Simmons & Simmons’ tax team is ‘very strong’, with ‘powerful business acumen’. Specialisms include hedge fund work, and the team recently acted for BlueCrest Capital Management on the reorganisation of its business in Switzerland and Guernsey, with UK tax implications. The team also acted for British Land on its proposed construction of new headquarters for UBS on the Broadgate estate. Martin Shah is appreciated for his ‘strong legal analysis’, and Nick Cronkshaw is also recommended.

Skadden, Arps, Slate, Meagher & Flom (UK) LLP has a ‘refreshing ability to deliver practical and workable solutions’, and acts on many strategic tax planning and tax implementation issues associated with multi-jurisdictional and cross-border transactions. It advised BSG Resources on the tax aspects of the creation of a joint venture with Vale to develop mining rights in the Republic of Guinea. Tim Sanders is ‘very responsive, and has great technical knowledge and business acumen’, and James Anderson provides ‘excellent advice and insights’.

DLA Piper UK LLP’s growing team has expertise in areas such as structured finance, regulatory capital and infrastructure. Key clients include Deutsche Bank London, Pearl Assurance, and HIG Europe, and it recently acted for Cheung Kong Infrastructure Holdings on the acquisition of the UK electricity distribution business of EDF Energy. Recommended practice head Stephen Hoyle joined in 2010 from Ernst & Young.

Debevoise & Plimpton LLP is a strong choice for cross-border matters, gaining strength from the wider firm’s prominent international profile. It acts on a wide range of matters, with fund formation, secondary acquisitions and M&A deals featuring prominently. It acted for American International Group on the proposed sale of its Asian life insurance unit, American International Assurance, to Prudential for $35.5bn. Richard Ward is recommended.

Dewey & LeBoeuf LLP’s team is ‘extremely helpful, competent, dedicated and persuasive’. It acts on a range of cross-border and financial matters for clients such as BNP Paribas, Catlin, Citigroup, Deutsche Bank and Commerzbank, and its strong US profile helps it gain many instructions from US clients conducting business in Europe. Judith Harger and Fred Gander are recommended.

Field Fisher Waterhouse LLP’s ‘user-friendly’ team is ‘knowledgeable, practical and good value’. Areas of strength include media and film matters, transfer pricing and tax structuring. Nicholas Noble has ‘very broad knowledge’ and is ‘commercial and excellent to work with’, and practice head Graeme Nuttall is also recommended. Andrew Prowse recently made partner.

Kirkland & Ellis International LLP’s corporate tax offering is closely aligned with its fund formation, corporate and restructuring capabilities. The team advised Bain Capital and Advent International on the tax aspects of the financing of their successful £2bn bid to acquire the RBS WorldPay merchant services business from RBS. Ian Taplin, John Baldry and Jane Scobie are recommended.

Mayer Brown International LLP is ‘attentive, commercial, and able’, with recommended individuals including Peter Steiner (‘very innovative’), Sandy Bhogal (‘personable and commercially astute’), and James Hill. It advised JP Morgan Chase on the acquisition and refurbishment of 25 Bank Street from the Canary Wharf Group; and also acted for the five selling shareholders, including Cadbury and Royal Mail, on the sale of Camelot Group to Ontario Teachers’ Pension Plan.

McDermott Will & Emery UK LLP is ‘highly responsive and commercially knowledgeable’. It advises on a range of matters across transfer pricing, restructurings, and M&A, including acting for US companies seeking tax advice in other jurisdictions. Recommended tax head Peter Nias has close links with HMRC, and is ‘at the heart’ of any matter.

SNR Denton advises on a range of complex and technical corporate tax matters for blue-chip clients including Total, Sainsbury’s, Tata Steel, and RBS. It advised Virgin Money on its takeover of Church House Trust, and Datacash on a recommended £333m takeover (via a scheme of arrangement) by MasterCard/Europa. Alex Thomas and Jeremy Cape are the names to note.

The team at Shearman & Sterling LLP is ‘commercial and practical, and communicates effectively’, acting on many high-profile, complex and multi-jurisdictional matters. It advised long-time client New England Sports Ventures on its successful acquisition of Liverpool FC, and American Sugar Holdings on its £211m acquisition of Tate & Lyle’s EU sugar-refining business. Well-respected partner Iain Scoon ‘identifies problems and solutions quickly’.

Sidley Austin LLP has expertise in funds work and financial services, and advised a major US corporate client on a novel and complex structured financing for UK subsidiaries, with significant tax implications. It also assisted a number of clients on the UK tax aspects of various structured finance and restructuring transactions. Drew Scott is recommended.

Stephenson Harwood provides an ‘excellent service’, and is valued for its ‘knowledge and competence’. In addition to its record in shipping matters, the team has expertise in areas ranging from M&A, funds and real estate, to complex tax-enhanced financing arrangements. Clients include British Land, The London Development Agency, KPMG and Macdonald. Hugo Jenney is the name to note.

Taylor Wessing LLP’s team is ‘always available, and very practical’. It has strength in transactional matters and also a niche in Islamic finance, championing innovative developments in the area. It acted for Highland Spring on its acquisition of the Greencore Group water business, and for London International Hospitals on the UK’s first commercial sukuk launch. Recommended individuals include Peter Jackson, and the ‘pragmatic, efficient, and inventive’ Nikol Davies.

Watson, Farley & Williams LLP’s team is headed by the well-respected Michael L’Estrange, and saw an upturn in renewable energy related matters, while cross-border tax-based asset finance is another significant specialism. Clients include Seaspan Corporation and Bayerngas UK, which the firm recently assisted on two acquisitions relating to gas development projects. Chris Comyn is also recommended.

Weil, Gotshal & Manges is ‘excellent and thorough’, and ‘takes the initiative’, with particular strength in private equity matters. It recently advised Advent International on the sale of Poundland to Warburg Pincus, and also on its acquisition of the Global Merchant Services business of RBS. Brenda Coleman is ‘excellent’.

The ‘outstanding, full-service’ team at Baker & McKenzie LLP benefits from the firm’s excellent global links, and provides fully integrated customs and excise advice to a range of multinational and UK-based clients. Practice head Ross Denton focuses on the public regulation of international trade, customs, and export controls and sanctions.

The ‘highly proficient’ team at Irwin Mitchell LLP is ‘pre-eminent’ in the field, and has strength in tax investigations involving a criminal element. Areas of note include investigations into football club transfers and tax fraud, and offshore tax fraud. Practice head Maurice Martin is valued for his ‘years of experience’, and has an ‘excellent relationship with senior staff of HMRC’. Sarah Wallace and Kevin Robinson are also key figures.

The ‘outstanding’ team at Peters & Peters Solicitors LLP acts on direct and indirect tax investigations, and a variety of customs and excise infractions. Key clients include corporates and high-net-worth individuals subject to HMRC inquiries and procedures. The team also advises individuals on the Revenue’s success in gaining access to information about offshore accounts. The ‘immensely experienced’ Monty Raphael QC and Sarah Gabriel are recommended.

BCL Burton Copeland has a ‘growing’ profile in customs and excise matters, and is notable for its expertise in fraud and other cases with a criminal dimension. The ‘highly competent’ Harry Travers delivers ‘imaginative solutions’ to clients’ needs, and is widely respected in the area.

Crowell & Moring’s team is led by Gerallt Owen and specialises in representing clients in high-net worth tax avoidance, tax evasion and money laundering investigations. It has been instructed by 70 claimants in proceedings against HMRC for non-payment of compound interest on VAT overpayments. The high-profile Peter Kiernan left the firm in 2010, while Alan Gourley has joined.

DLA Piper UK LLP’s ‘very knowledgeable and commercially minded’ group assists key clients such as Kraft Foods Europe, Diageo, and The Boeing Company on a broad range of customs, trade law, and contentious tax matters. Well-respected partner Miriam Gonzales is a key figure. In a high-profile move, cross-border tax expert and global head of litigation Neil Gerrard recently left for Dechert LLP.

Eversheds LLP has a notable regulatory practice and expertise in VAT and indirect tax work. Highly regarded partner Neill Blundell has experience in white-collar crime matters and the defence of corporations in customs investigations, in addition to matters involving money laundering, cartels and price fixing.

The ‘top-notch’ team at McGrigors LLP continues to specialise in customs duty, excise duty, landfill tax, and aggregate levy matters, and has a notable niche in alcohol and brewing-related customs matters. The ‘dynamic and expanding’ team is headed by David Anderson, who has a ‘wealth of knowledge’. The ‘top-class’ James Bullock and Jason Collins are also recommended.

Freshfields Bruckhaus Deringer LLP’s reputation in this area remains outstanding. The team has considerable strength in depth, and is at the forefront of many significant matters. David Aitman acted for NEC in the European Commission’s investigations into DRAM and SRAM semiconductor products, which was the first case to settle with the Commission under the new regime; and Jon Lawrence successfully defended EWS in the first private damages claim ever to reach trial in the Competition Appeal Tribunal (CAT). In mergers, Alex Potter and Andrea Gomes da Silva are advising Sara Lee in the sale of its international household and body care business. Rod Carlton heads the group.

The ‘phenomenal’ team at Slaughter and May has ‘unparalleled’ strength in depth, and a ‘remarkable’ commercial approach. Richard Swallow acted for British Airways in the successful strike-out of a claim brought by representatives of all direct and indirect purchasers of air cargo services affected by an alleged cartel. In mergers, Bertrand Louveaux (‘very bright, extremely responsive and user friendly’) advised Asda on its acquisition of Netto. Isabel Taylor has a thriving state aid practice; and Christopher Wright is a regulatory expert. Sarah Cardell left for Ofgem, and William Sibree has retired.

The team at Allen & Overy LLP ‘punches above its weight’, securing instructions on many cutting-edge matters, and its approach is such that it is considered ‘more an integral part of the client than an outside consultant’. At EU level, it secured Phase I clearance for Novartis in its $40bn acquisition of Alcon. In the UK, it advised CTS Eventim AG in its successful judicial review challenge to the Competition Commission’s Phase II clearance of the Ticketmaster/Live Nation merger, leading the Commission to ask for its own decision to be quashed by the CAT. Mark Friend, Simon Pritchard and Philip Mansfield are all highly regarded.

Clifford Chance recently welcomed Alastair Mordaunt from the OFT, where he was most recently director of the enforcement team. In litigation, Elizabeth Morony advised Morgan Crucible in a damages claim in the CAT brought by Deutsche Bahn AG and others arising out of the carbon cartel. In mergers, Alex Nourry is advising the Co-operative Group Travel Agency in relation to its joint venture with Thomas Cook. The highly regarded Oliver Bretz is now managing partner of the global antitrust group; and Greg Olsen is also recommended.

Herbert Smith LLP is acknowledged as ‘the biggest name for full-on litigation’, but has strong experience across the board. The team is advising BSkyB regarding its appeal of Ofcom’s pay TV statement in the CAT. Other recent work includes acting for Arriva regarding the £1.6bn public offer by Deutsche Bahn; advising London Underground on state aid issues; and advising EDF on public procurement matters. Following Elizabeth McKnight’s move to a part-time position, James Quinney (‘dedicated, knowledgeable and resourceful in looking for a solution’) now heads the group, which has also promoted André Pretorius to partner.

Linklaters LLP has a broad practice comprising well-known personalities and ‘a great supporting team’, which is regularly present on significant market studies, investigations, and cartel cases. Recent work includes acting for Aer Lingus in relation to the OFT’s Enterprise Act investigation into the minority stake held by Ryanair; and defending Dow Chemical in a High Court damages action relating to the synthetic rubber cartel. Sir Christopher Bellamy QC has ‘a superb understanding of the commercial needs and realities of the client’s business in the competition law area’; and Eamonn Doran has ‘unquestionable technical knowledge and a measured approach’.

Despite a number of departures in 2010, SJ Berwin LLP can still call on the expertise of Simon Holmes and Philipp Girardet, who are ‘extremely insightful and diligent ’; Tom Usher, ‘a real solutions based lawyer’; and Stephen Kon, who is for some ‘the best competition lawyer in Europe’. The practice spans the entire spectrum of competition matters, with recent highlights including acting for Lloyds in its £7bn disposal of assets to Coller Capital, and advising a consortium of tyre manufacturers in claims in the High Court arising out of the synthetic rubber cartel.

Ashurst LLP has a particularly strong practice acting in appeals and investigations both at EU and UK level, and benefits from a team of economists. Highlights included acting for Imperial Tobacco in its appeal to the CAT against the OFT’s fine in the tobacco cartel; and acting for Intel in its appeal to the European General Court (EGC) against its £1bn fine for alleged abuse of dominance. Arundel McDougall handles cartel-related matters in several specialist sectors; and Ben Tidswell acts for Virgin Media and Telefónica O2 in contentious and regulatory matters. Practice head Nigel Parr is well known, and Euan Burrows is also recommended.

Baker & McKenzie LLP has seen an increase in merger control instructions, alongside its global cartel work and litigation. Notable work included acting for new client L’Oréal regarding its acquisition of Essie Cosmetics, and representing Shell in its appeal of the OFT’s fine in the tobacco cartel, as well as in follow-on litigation arising out of the paraffin waxes cartel. Group head Samantha Mobley is well known, and new partner Sunny Mann is recommended for trade sanctions, export compliance and regulatory advice.

Berwin Leighton Paisner LLP has recently hired former ORR chairman Chris Bolt as a consultant. Rising star Andrew Hockley, who arrived from BP in 2010, has a ‘first-class intellect’ and a ‘knack for giving practical advice’. Work highlights included acting for Sports Direct in relation to its acquisition of 31 stores from JJB, and in a related successful procedural challenge against the Competition Commission in the CAT; and acting for National Grid in a £300m follow-on damages claim in the High Court. David Harrison and Adrian Magnus ‘exemplify the firm’s approach to client care and management, and are lawyers of a very high calibre’.

Following the firm’s well-publicised merger, and the arrival from WilmerHale of Suyong Kim (‘clearly a respected authority within this sector’), Hogan Lovells International LLP ‘can match the Magic Circle pound for pound’. In addition to its enhanced global reach, the team has also increased its profile in large-scale litigation; it is, for example, defending Dw/\r Cymru Cyfyngedig (Welsh Water) in a purported follow-on claim brought by Albion Water in the CAT. Simon Polito, Christopher Hutton and Lesley Ainsworth are all highly recommended. Susan Bright is experienced in financial services related work.

Although not as visible at EU level as some other firms, Norton Rose LLP is punching well above its weight in the UK competition arena. Recent work includes acting for Asda in its appeal to the CAT against the OFT’s decision and fine in the tobacco cartel; and acting for Stena Lines before the OFT and Competition Commission in its acquisition of two Irish Sea routes from DFDS. Martin Coleman is ‘a strategic thinker’ with ‘excellent business acumen’; Mark Jones is ‘an excellent technician and tactician’; Peter Scott has ‘a rare combination of insight into competition law and economics’; and Michael Grenfell ‘loves the details of cases, which is particularly important in litigation, while at the same time ensuring that the story hangs together as a coherent whole’.

Simmons & Simmons has a broad practice and solid experience across the board. Cutting-edge work included acting for Hynix in several appeals to the EGC regarding a complaint against Rambus and related commitments offered by Rambus to the European Commission. The team is also acting in a number of High Court damages claims; and advised Schlumberger Limited on its $12bn acquisition of Smith International. Team head Martin Smith, and Tony Woodgate are both well regarded; and Oliver Heinisch was promoted to partner. Jenny Block left for Postcomm.

Addleshaw Goddard LLP has undoubtedly made a major investment in its competition practice. Enhancing its litigation capabilities, the team welcomed Rona Bar-Isaac (‘very business focused and practical’) from WilmerHale, and appointed the highly regarded Bruce Kilpatrick as department head following Mark Clough QC’s departure to Brodies LLP. The team also won significant new clients in the retail, financial services, and energy sectors, strengthened relationships with key clients through secondments, and was appointed to Ofwat’s panel.

The ‘extremely responsive’ team at DLA Piper UK LLP is well placed to assist its international clients in mergers and in co-ordinated dawn raids by multiple regulators. Recent work includes advising CEVA regarding an investigation into freight forwarding by several regulators including the European Commission and DoJ. The team also has a strong niche in the sports and media sectors, where it has recently advised on state aid matters. Alexandra Kamerling is ‘first rate – she is technically excellent, and applies the law in a pragmatic manner’. Practice head Mike Pullen also has an enviable trade practice, alongside Miriam Gonzalez.

Eversheds LLP has been particularly active in OFT investigations and novel High Court damages claims. Practice head Ros Kellaway is widely respected for her strategic advice, and has an ‘excellent understanding of the UK regulatory authority’s approach’, and Stephen Rose is ‘very calm in a crisis and very clear in his advice’. Also recommended are James Robinson; and senior associate Nicola Holmes, who is a ‘rising star’. The team is also well known for its innovative competition compliance solutions.

Jones Day acts in many significant and high-profile litigation matters before the High Court, the CAT and the European courts. Notable recent work includes advising AstraZeneca plc in its appeal before the ECJ regarding fines imposed by the Commission for abuse of a dominant position. Merger work also features strongly, with the group able to draw on the firm’s excellent global M&A practice; highlights in 2010 included advising Procter & Gamble in its €320m purchase of Sara Lee’s Ambi Pur business. The team also has a strong track record in UK sector investigations. Practice head Frances Murphy is ‘very smart and cool headed’, and ‘a very good person to turn to in a crisis’.

Latham & Watkins LLP is representing clients in many of the major pending cartel matters. Recent work includes acting for ArcelorMittal in the Commission’s Prestressing Steel cartel investigation, where the fine was reduced from €276m to €45.7m, prompting new policy announcements in relation to the calculation and level of fines. Another highlight was representing the RTL Group and others in the landmark CISAC case regarding anti-competitive practices by music collecting societies. John Colahan ‘gives very good strategic advice’; and Omar Shah is ‘extremely competent and commercial’.

CMS Cameron McKenna LLP acts for numerous high-profile clients including RWE, Transport for London, Colgate-Palmolive, and the Wellcome Trust. The team has specialist sector expertise in energy, utilities and infrastructure, fast moving consumer goods, communications, and life sciences, and also has solid experience in state aid and procurement matters. Although traditionally best known for its behavioural work, it is increasingly involved in big-ticket merger work; highlights in 2010 included advising global pharmaceuticals giant Takeda on its €9.6bn acquisition of Nycomed. Susan Hankey leads the team.

Field Fisher Waterhouse LLP is making significant headway in this area, developing a broad practice and winning new clients. Recent work includes successfully clearing All Nippon Airways of any involvement in the air cargo cartel; and advising Orange in a number of appeals in the CAT and Competition Commission regarding Ofcom’s statement on mobile call termination charges. State aid clients include Sector Treasury Services. Practice head Charles Whiddington is praised for his quick and clear advice; and new partner John Cassels is ‘flexible at approaching legal issues from different directions to find the best way to resolve the problem’.

The team at Macfarlanes LLP is led by the highly respected Marc Israel and has been advising on some high-profile matters for some major clients. Of particular note is its work for Pinewood Laboratories, where Israel led a team which persuaded the OFT to open a rare abuse of dominance investigation into Reckitt Benckiser regarding activities relating to its market-leading heartburn medicine Gaviscon; the case resulted in the first fine for such a case since 2003, and is likely to have far-reaching implications for the health sector.

Nabarro LLP is praised for its ‘very good partner-level attention’. The team is building strength in litigation, where it recently successfully intervened for a major provider of electronic payment services in Camelot’s application to the National Lottery Commission to use its Lottery terminals for bill payments and mobile top-ups. Other work included representing Mercedes Benz in the OFT’s inquiry into the commercial vehicles market; and several high-value merger transactions. Brian Sher is ‘proactive, and quick at understanding complex businesses and issues, and has very good communication skills’.

Pinsent Masons LLP delivers ‘a first-class service’. The team includes practice head Guy Lougher, who is now based full time in London; and Alan Davis, who is ‘a star: approachable, pragmatic, and thoughtful’. Davis recently advised Galliford Try in its appeal to the CAT, obtaining a significant reduction of the OFT’s fine for its alleged participation in the construction cartel, and is also acting for MBNA regarding the ongoing Visa and MasterCard UK credit card interchange fee investigations at UK and EU level.

The ‘exemplary’ Shearman & Sterling LLP strengthened its team in Brussels with the hire of three partners from the now disbanded Howrey LLP. It continues to assist Areva in a £250m High Court damages claim by National Grid; and is also advising Citigroup in the OFT’s market study into equity underwriting. Other clients include large hedge funds. The team is ‘always available and responsive, with a shrewd ability to get to the desired result’. Matthew Readings and senior associate James Webber both win high praise.

Arnold & Porter (UK) LLP has advised on some big-ticket merger work out of its London office, and is gaining expertise acting for clients on hostile acquisitions. It acted for Monsanto in the European Commission’s Phase II investigation of its sale of a business to Syngenta. Tim Frazer is well known for his representation of major pharmaceuticals companies, and Susan Hinchliffe is also recommended; both are ‘knowledgable, practical, excellent to work with, and very responsive’.

Bird & Bird has strength in a number of sectors, and has witnessed a particular increase in work from electronic communications, sports and aviation clients. Recent work includes advising The Football Association on matters relating to media rights licensing. Jeremy Robinson, who has expertise in economic regulation matters in the aviation, energy and water industries, is ‘a consummate professional; personable, patient and instills a sense of confidence and trust’. Richard Eccles leads the team.

Bristows has a ‘good team’ which is ‘thorough, knowledgeable, and responsive’ and provides ‘good commercial advice’. It focuses predominantly on regulatory investigations and litigation, but also undertakes valuable advisory work for clients across a diverse range of sectors. Clients include Bayer and Kimberly-Clark. The ‘excellent’ Pat Treacy heads the practice.

Burges Salmon LLP is acting for The Co-operative Group in the OFT’s tobacco investigation; and for Cardiff City Transport Services Limited in ongoing damages claims arising out of the OFT’s infringement decision regarding conduct in the Cardiff bus market. Tim Heywood joined in 2010 from Bevan Brittan LLP, bringing extensive public procurement and state aid experience. Laura Claydon heads the team.

Fried, Frank, Harris, Shriver & Jacobson (London) LLP increased its profile with the hire of Alasdair Balfour from Olswang, who brought with him a number of high-profile clients including Malaysia Airlines and Smurfit Kappa. Balfour’s arrival, along with an associate from Slaughter and May, has broadened the practice to include major cross-border cartel investigations and litigation.

The ‘first-rate’ team at Holman Fenwick Willan LLP was bolstered by the hire of two partners from the Brussels office of Squire Sanders Hammonds: international trade and state aid expert Eliza Petritsi is relocating to London, while the experienced Konstantinos Adamantopoulos will remain in Brussels. The team is consistently praised as being highly responsive, and practice head Anthony Woolich is ‘impressively commercial, and understands the needs of the business instantly ’.

K&L Gates strengthened its practice in 2010 with the hire of Scott Megregian from McDermott Will & Emery UK LLP to co-head the London practice, and has also been growing at associate level. Work highlights included acting for new client Lockheed Martin Corporation in obtaining European Commission clearance for its acquisition of a stake in the Ammroc joint venture. The firm now also has competition capability in Brussels, having opened an office there at the start of 2011.

Mayer Brown International LLP’s team has become much leaner in recent years, but retains a strong client base and acts on some significant litigation matters. Highlights included advising BASF in its defence of litigation in the High Court and CAT arising out of the European Commission’s decision in the vitamins cartel; and winning a 94% reduction of the OFT’s fine imposed on John Sisk & Son and parent company Sicon Limited for alleged participation in the construction cartel. Practice head Gillian Sproul has ‘very good knowledge and delivers advice concisely and clearly’.

Olswang’s traditional areas of strength are the broadcasting and technology sectors, where clients include the British Horseracing Authority, and Cable & Wireless, and it also has growing expertise elsewhere, with recent work including merger advice to Emirates Group. Head of the group Howard Cartlidge has ‘an exceptional blend of technical EC competition law expertise coupled with an unflappable commercial professionalism’. Alasdair Balfour left for Fried, Frank, Harris, Shriver & Jacobson (London) LLP.

Douglas Lahnborg at Orrick, Herrington & Sutcliffe (Europe) LLP provides ‘clear, constructive advice’, is ‘tight into the process’, and ‘drives the issues forward’. Recent work includes acting for Paris-based Turbo Hercules SAS in convincing the European Commission to open proceedings into IBM’s alleged abuse of its dominant position in the mainframe computer market; and advising Areva T&D in its €4.1bn sale to Schneider and Alstom.

Reed Smith is best known for its work in the shipping and trade, and media sectors, and has growing experience in the pharmaceuticals sector. Recent work includes advising Channel 4 on its ad sales joint venture with UKTV. Marjorie Holmes is ‘exceptional in her level of professional commitment to the field of competition law, as well as her depth and breadth of knowledge’. Edward Miller and Katherine Holmes are also recommended.

The team at SNR Denton has been particularly busy in mergers, where it successfully guided The Ambassadors Theatre Group through its controversial merger with the UK theatres of Live Nation. Other recent work includes acting for The Football League in its intervention in the appeal of Ofcom’s decision in the pay TV market investigation before the CAT. Practice head Sam Szlezinger is particularly well known for his work in groundbreaking litigation.

Shepherd and Wedderburn has seen an increase in damages litigation and enforcement action work, where highlights included acting for Albion Water in the ongoing multimillion-pound damages claim against Welsh Water in the CAT. Practice head John Schmidt is a ‘talented lawyer: approachable and sensible’.

Sidley Austin LLP recently promoted David Went to partner and also welcomed Timothy Cowen as a partner in the London office, previously chief counsel for competition law and public policy at BT. Stephen Kinsella OBE, who divides his time between the London and Brussels offices, is head of the firm’s EU competition practice.

Taylor Wessing LLP has a solid reputation in technology-rich areas, and is also active in energy and telecoms. Traditionally strong in behavioural matters, the group has expanded steadily in recent years and is beginning to grow its merger control practice. Robert Vidal is ‘one of the most talented competition lawyers of his generation. He has drive, energy, and a fanatical devotion to his clients’.

Travers Smith LLP is undertaking an increasing amount of behavioural work, and retains a solid merger control practice. Margaret Moore (‘extraordinarily personable, responsive, reliable and effective’) advised Carpetright in a complex OFT merger inquiry into completed acquisitions from Allied Carpets. Nigel Seay is ‘competent, precise, to the point, and pleasant to work with’.

Wragge & Co LLP has a healthy competition practice, acting across a range of matters. Recent work includes acting for Thomas Vale Group plc in its appeal to the CAT regarding the OFT’s fine in the construction cartel. It also handled several multi-jurisdictional merger notifications. Bernardine Adkins heads the team.

Also of note are Peters & Peters Solicitors LLP, where Michael O’Kane is widely recognised as one of the leading criminal cartel lawyers in the UK; and Hausfeld & Co LLP, which specialises in claimant damages actions with a particular focus on competition law.

Praised as bringing ‘real firepower’ to transactions, Freshfields Bruckhaus Deringer LLP’s ‘fantastic team’ is ‘extremely helpful and professional’. Renowned for the strength of its underwriter practice, the team advised Deutsche Bank and JP Morgan Cazenove as joint bookrunners, and BNP Paribas, Nomura and Standard Chartered as co-managers in Essar Energy’s £2bn IPO. A notable issuer deal of 2010 was advising Betfair on its £1.3bn IPO. Stephen Revell is ‘among the best in the business’, and leads the team alongside the highly recommended Sarah Murphy.

A ‘real class act’, Linklaters LLP fields a ‘dedicated’ equity capital markets team noted for its ‘dogged determination and innovation in equal measure’. The ‘pre-eminent’ team is known for advising high-profile issuer and manager clients in cross-border transactions. In 2010 it assisted JP Morgan Cazenove and Deutsche Bank as the underwriters of Essar Energy’s £1.3bn IPO, and also advised Royal Bank of Canada and Barclays Bank regarding the £2bn rights issue of Resolution. Joint practice head John Lane is highly rated, and recently promoted partner Dan Schuster-Woldan is a ‘rising star’.

Providing ‘excellent advice’, Clifford Chance has ‘fabulous bank relationships’, and is well known for its underwriter advice. The team, led by Adrian Cartwright, advised the underwriters on the £11bn IPO of Glencore, while on the issuer side, it handled the £900m IPO of Luxembourg company AZ Electronic Materials. Iain Hunter and Simon Thomas are highly rated. The group is also known for its emerging markets work, and recently advised the underwriters on the IPO of Russian infrastructure company OJSC Mostotrest.

The ‘really committed’ team at Herbert Smith LLP provides an ‘incredibly hands-on’ service. The ‘invaluable’ Christopher Haynes recently led in advising Barclays Capital and Citi on the £900m IPO and London listing of Justice Holdings. Elsewhere, the team represented Citi and others on Bank of Ireland’s €1.9bn rights issue and €500m institutional placing; and Deutsche Bank and others on National Grid’s £3.3bn rights issue. Jim Wickenden now leads the capital markets group, which features the ‘commercially astute and pragmatic’ Will Pearce and ‘fabulously experienced’ Greg Mulley.

‘UK powerhouse’ Allen & Overy LLP has an excellent reputation on the underwriter side. It advised Goldman Sachs and a range of other institutions on the IPO of Ocado in 2010; and also advised Goldman Sachs and Morgan Stanley as sponsors and Barclays and Numis as managers of Betfair’s £1.3bn IPO. The ‘proactive’ Louise Wolfson has ‘good commercial judgement’, and David Broadley has ‘excellent knowledge’. The highly recommended Mark Dighero leads the team.

With ‘excellent knowledge, experience and responsiveness’, Ashurst LLP’s team recently advised the selling shareholders in the £660m IPO of Smart Technologies, and CPP Group on its £150m IPO. The team also represented HSBC and others as underwriters in Avis Europe’s £151m rights issue, and RBS Hoare Govett and Oriel Securities as joint bookrunners of NB Distressed Debt Investment Fund’s $440m IPO. Nicholas Holmes is ‘technically very capable’, with a ‘wealth of experience’ and an ‘excellent method of application’. Michael Robins offers ‘very good client service’.

Slaughter and May provides ‘second-to-none’ advice coupled with ‘deep industry knowledge’. In 2010, it advised Ocado on its £200m IPO, and also assisted Prudential in a $21bn rights issue. Nilufer von Bismarck is rated for ‘truly phenomenal dedication, technical knowledge and responsiveness’, and recently advised Standard Chartered on the first-ever Indian depository receipt offer and also with regard to its £3.26bn rights offer. Peter Brien leads the team, which includes the ‘very pragmatic and client-friendly’ Jeff Twentyman, and ‘excellent technician’ Kathy Hughes.

Richard Brown’s ‘excellent’ team at Hogan Lovells International LLP is highly regarded for its energy sector expertise, and recently advised Coal of Africa on a £55m placing of new shares. The team also acted for BoA Merrill Lynch and others on Flybe’s IPO in 2010; and advised key client JP Morgan Cazenove, together with Greenhill & Co, on Findel’s £80.5m rights issue and placing. Maegen Morrison is recommended.

Norton Rose LLP has an excellent reputation for equity capital markets work, and is one of the top players in the mid-cap space. Highlights for 2010 included advising on a privatisation in Poland, and the team also continues to develop its expertise in the mining and natural resources sectors. Recommended individuals include ‘excellent practitioner’ Richard Sheen, Raj Karia, Simon FT Cox and Julian Stanier.

The ‘very good’ practice at Skadden, Arps, Slate, Meagher & Flom (UK) LLP is renowned for its experience in Russian and other emerging markets deals. Recent highlights include advising Renaissance Securities and UBS as joint coordinators in the $400m Reg S IPO of Russian pharmaceuticals company OJSC Protek; and representing Russian food retailer O’Key Group in its $420m IPO. James Healy, Pranav Trivedi and Danny Tricot are recommended.

White & Case LLP’s equity team is led by Philip Broke and acts for underwriters including UBS and BoA Merrill Lynch. The firm has particular strength in Northern Europe and Western Europe, particularly Poland.

With an impressive roster of issuer clients, Baker & McKenzie LLP maintains a strong focus on emerging markets, and has notable expertise in cross-border transactions. In 2010 the team advised Unicredit on Fortuna Entertainment Group’s IPO and dual listing on the Prague and Warsaw Stock Exchanges. Head of the capital markets group Edward Bibko is highly recommended.

Cleary Gottlieb Steen & Hamilton LLP is very highly rated for its expertise in Russia and other emerging markets, and acts for both issuer and underwriter clients. Raj Panasar recently advised Russian real estate developer Etalon Goup in its $575m IPO, and also counts Rusal as a key client. Simon Ovenden is also recommended.

Known for its expertise in the insurance sector, in 2010 Dewey & LeBoeuf LLP’s ‘very good’ team advised the largest Polish insurance group, PZU, on its $2.6bn IPO on the Warsaw Stock Exchange. The firm also has experience in emerging markets work, particularly in Russia and the Middle East, with Camille Abousleiman highly regarded. Joseph Ferraro is practice head.

Simmons & Simmons represents banks including Investec, UBS, HSBC and Deutsche Bank. Highlights included advising RBS Hoare Govett on CQS Diversified Fund’s £75m IPO, and JP Morgan Cazenove and Panmure Gordon as joint bookrunners, managers and sponsors of RPC Group’s £88m rights issue. The ‘very good’ Chris Horton leads the international equity capital markets group, and Colin Bole, who joined from Allen & Overy LLP in 2010, is a ‘very safe pair of hands’.

At Sullivan & Cromwell LLP, Vanessa Blackmore advised Pershing Square as a founding shareholder in the £900m IPO and London listing of Justice Holdings, and also represented the underwriters, including Goldman Sachs, in Mail.ru Group’s IPO and London listing. With particular strength on the issuer side, the team also advised Kenmare Resources in a $270m rights offering.

‘Excellent in all respects’, Weil, Gotshal & Manges has a superb reputation for the quality of its advice to underwriters. Clients rate the ‘talent throughout the team at all levels’, with James Cole and Peter King singled out. The ‘dedicated, responsive and commercial’ group advised Credit Suisse, Deutsche Bank, Goldman Sachs and Morgan Stanley on the $2.6bn IPO of insurance group PZU; and also advised Chr. Hansen Holding on its IPO and listing on the NASDAQ OMX Copenhagen.

Akin Gump Strauss Hauer & Feld retains a depth of expertise in the energy sector, and is active in emerging markets, particularly Russia. Sebastian Rice recently advised Max Petroleum on a $75m cash placing.

Katherine Ashton and James Scoville are the key contacts at Debevoise & Plimpton LLP. The team has a strong track record in emerging markets transactions, and regularly advises Russian issuer clients. It advised KazakhGold Group in a $100m private placement to international investors in 2010.

Lene Malthasen is the key contact at Latham & Watkins LLP and has experience acting for issuers and underwriters in listings across Europe. Malthasen is also a member of the firm’s Scandinavian practice, and is very active is the region.

Monica McConville joined Shearman & Sterling LLP from Freshfields Bruckhaus Deringer in July 2011 to lead a dedicated ECM team at the firm. Laurence Levy recently advised African Barrick Gold and Tata Steel, and also acts for banks including Credit Suisse and Barclays.

Berwin Leighton Paisner LLP acts for issuer clients moving to the main market, and counts Raven Russia and GCP Infrastructure Fund as clients. In 2010, it represented financier Nathaniel Rothschild in the £707m IPO of his mining investment group Vallar. Alex Latner and Benjamin Lee are recommended.

Tim Jeveons and Andrew Caunt at Greenberg Traurig Maher LLP are recommended for their growing practice. Recent clients include Macquarie, Justice Holdings and Berggruen Holdings.

A ‘first-rate’ firm, Cleary Gottlieb Steen & Hamilton LLP is noted for its strength in emerging market transactions and particularly in Russian work, where it has the ‘number one’ practice. David Braverman, who is based between Moscow and London, advised social networking company Mail.ru Group on its $912m Rule 144A/Reg S IPO in November 2010. Pierre-Marie Boury acts for clients including Statoil Fuel & Retail, and Aluminium Bahrain. David Gottlieb is also recommended.

Davis Polk & Wardwell LLP has a superb reputation, handling securities transactions for banking clients. It advised the joint bookrunners, including Santander, Commerzbank and Merrill Lynch, on a €10.2bn rights offering by Deutsche Bank; and Resolution on its £2bn rights issue. Elsewhere, the team advised Danish jewellery designer Pandora on its $2.1bn IPO on the NASDAQ OMX Copenhagen. Jeffrey Oakes, Paul Etienne Kumleben and John Banes are all recommended.

The ‘impressively strong’ team at Linklaters LLP provides a fully integrated service to clients. In 2010, the ‘very good’ Tom Shropshire acted as US counsel to National Grid on its £3.3bn rights issue. The ‘exceptional’ Jason Manketo is considered ‘among the best US capital markets lawyers in London’; and Mike Bienenfeld combines ‘quick intelligence with a pragmatic approach’. Brigid Rentoul and Cecil Quillen are also recommended.

Sullivan & Cromwell LLP is noted for its ‘excellent’ advice. In 2010, John O’Connor acted as US counsel to Standard Chartered Bank in a $5.4bn rights offering, and also advised Enel Green Power in its €2.6bn IPO. Kathryn Campbell advised Wil. Wilhemsen on a NOK1.45bn IPO and listing on the Oslo Stock Exchange. William Plapinger and David Rockwell are recommended.

Freshfields Bruckhaus Deringer LLP’s integrated securities practice is ‘outstanding’. In 2010, Sarah Murphy represented Amadeus IT Holding on its €1.45bn IPO and listing on the Madrid Stock Exchange, and also led in advising Promethean World in its £185.7m global offering. Elsewhere, the team advised Deutsche Bank and Goldman Sachs on the £90m IPO and listing of AZ Electronic Materials.

Skadden, Arps, Slate, Meagher & Flom (UK) LLP fields an integrated practice in London. A ‘great practitioner’, Richard Ely represented Credit Suisse and Goldman Sachs International as lead managers in the CHF200m share offering of gategroup Holding. Pranav Trivedi led in advising Morgan Stanley and Renaissance Securities (Cyprus) on a secondary offering of American depositary shares by Mechel OAO.

Allen & Overy LLP is praised as providing ‘excellent access to senior partners’, and ‘tailored advice’. Operating as an integrated team, the ‘very responsive’ group has a focus on emerging markets, and advised the Warsaw Stock Exchange on its privatisation through an IPO. The team is active in Greece, acting for Piraeus Bank and Alpha Bank. Max Aaron is ‘very strong’, and Daniel Epstein and Robert Williams have ‘extensive practical experience’.

John Connolly leads the US team at Clifford Chance, and recently assisted Koks Group in its proposed $500m IPO (now postponed). Christopher Walton was also active in representing JP Morgan Cazenove and Deutsche Bank as sponsors of the £1.1bn premium listing of Phoenix Group Holdings.

The ‘extremely good’ team at Herbert Smith LLP includes four US-qualified lawyers, who are ‘incredibly responsive’ and ‘extremely knowledgeable’. A ‘superstar on the US front’, Adam Wells delivers ‘practical insight on complex deals’, and acted for JP Morgan Cazenove and Oriel Securities in the £175m IPO of Metric Property Investments. Jim Wickenden led in advising NB Distressed Debt Investment Fund on its $440m IPO. Stephen Thierbach has ‘outstanding knowledge and experience’, and Alex Bafi provides ‘sound advice’.

Latham & Watkins LLP is active in the European capital markets arena, and has an outstanding reputation. A leading figure for Nordic matters, Olof Clausson represents clients in the technology and financial services sectors, and recently advised Swiss software company Esmertec in its IPO and listing on the Swiss Stock Exchange. He also represented the underwriters, led by Merrill Lynch and Credit Suisse, in Swedbank’s €1.5bn rights offering. Ian Clark is noted for his experience in regions including Turkey, Russia, Ukraine and India.

The US practice at Weil, Gotshal & Manges was greatly bolstered by the relocation of David Meredith to London from Hong Kong, and the appointment of Rob Ferguson from Shearman & Sterling LLP. Meredith recently advised gategroup Holding on a rights offering and global offering of shares on the Swiss Stock Exchange, and also acted for the underwriters in the IPO of the Warsaw Stock Exchange in its privatisation.

Cravath, Swaine & Moore LLP has a growing reputation in the market, and regularly acts on the US component of secondary offerings. Philip Boeckman ‘knows his stuff’, and advises both issuer and underwriter clients.

Dewey & LeBoeuf LLP is ‘going places’ in terms of its Middle East experience, with Camille Abousleiman representing several issuer clients in the region. The ‘highly recommended’ Joseph Ferraro led on the PZU IPO, and leads a largely dual-qualified team with strong US capabilities.

Paul, Weiss, Rifkind, Wharton & Garrison LLP’s specialist London US team is a ‘valuable outpost’, providing US advice to issuer clients including RIB Software and Metric Property Investments. ‘Top-notch operator’ Mark Bergman advised Sihuan Pharmaceutical Holdings on its $710m Rule 144A/Reg S IPO and listing on the Hong Kong Stock Exchange. David Lakhdir is recommended.

Shearman & Sterling LLP is rated for both underwriter and issuer matters, and has acted for the likes of Nokia and Goldman Sachs. Joint head of the corporate group Richard Price has an excellent reputation.

White & Case LLP has a depth of US securities law expertise. Joshua Kiernan is the key contact, and also heads up the firm’s Israel practice. He has experience advising clients on IPOs and listings on the Tel Aviv and Warsaw stock exchanges.

Ashurst LLP’s US practice suffered a blow in March 2011, when Daniel Bushner, Eric Stuart and Marie Elena Angulo, left the firm. It has since recruited Ray Fisher, former head of the capital markets group at Linklaters New York, and Jennifer Schneck, who left Linklaters LLP in London in 2009. Both joined the firm in May 2011.

Tom Philipp is the key contact on the US side at Baker & McKenzie LLP. In November 2010, he advised Egyptian real estate developer Amer Group Holdings on its $200m IPO listed on the Egyptian Stock Exchange.

Experienced in Rule 144A transactions, Robert Mollen at Fried, Frank, Harris, Shriver & Jacobson (London) LLP provided US counsel to Flybe on its £66m IPO and listing on the London Stock Exchange.

Hogan Lovells International LLP lost Katherine Mulhern to Kaye Scholer LLP in 2010. However, since the May 2010 merger, the firm’s US capabilities have broadened, and Peter Kohl and John Basnage are active in capital markets transactions, with recent work including the Flybe IPO.

Jones Day joins the ranking following its hire of Daniel Bushner and Marie Elena Angulo from Ashurst LLP.

Up and coming in the market, Norton Rose LLP’s US corporate finance group is led by Thomas Vita, who recently advised Jupiter Fund Management on its £755m IPO and London listing. The team has notable experience in Polish transactions. Mike Dunn is recommended.

‘First-class practice’ Clifford Chance acted for LCH.Clearnet on the development of its SwapClear Futures Commission Merchant service, and assisted Gartmore in an internal investigation into the conduct of Guillaume Rambourg. Advisory head Chris Bates and Tim Plews are key contacts. Simon Gleeson is also recommended, along with contentious experts Roger Best and Carlos Conceicao.

The ‘responsive’ team at Freshfields Bruckhaus Deringer LLP includes Michael Raffan, who leads non-contentious matters, with Mark Kalderon and Guy Morton also key figures. It recently provided regulatory advice in respect of the merger of the London Stock Exchange with the TMX Group. David Scott and Sarah Parkes are also recommended.

At Linklaters LLP, Sarah Parkhouse was promoted to partner and counsel Harry Eddis joined from Morgan Stanley. The practice undertook a comprehensive review of the client-facing documentation of an international private bank for retail regulatory and consumer protection issues, and advised in an FSA enforcement investigation into customer complaints handling. Global practice head Michael Kent, James Gardner, Peter Bevan and Christa Band are highly rated.

Allen & Overy LLP advised on one of the first RRP plans for a UK bank; assisted with changes to derivatives markets; and advised on the first dormant account reclaim fund. Bob Penn leads on the non-contentious side, and Damian Carolan and John Goodhall are also key figures. Calum Burnett heads the regulatory litigation practice, and Arnondo Chakrabarti and Tim House are also well-respected practitioners. The contentious team assisted with mis-selling issues, market abuse matters and claims relating to structured products in the retail area.

Ashurst LLP welcomed Rob Moulton from Nabarro LLP. Work highlights included a market abuse action; and advising on AIFMD, the Short Selling Regulation, MiFID II, custody and client money issues, and the regulatory aspects of OTC derivatives. James Perry, David Page, Jonathan Drake, Nick Cheshire and Wilson Thorburn are recommended.

Hogan Lovells International LLP’s Rachel Kent has ‘excellent market knowledge’, and Dominic Hill is experienced in systems, governance, prudential supervision, conduct of business, and outsourcing projects. Emily Reid’s ‘knowledge of banking sector products is phenomenal’, and Roger Tym ‘provides commercially focused advice’. The team acted for Santander in relation to FSA issues concerning the integration of Alliance & Leicester’s business in the Santander Group. Ailbhe Edgar gives ‘robust advice’, and Philip Parish has ‘great expertise’.

Norton Rose LLP’s Jonathan Herbst advises on commodity derivatives, outsourcing transactions, custody and clearing, and the regulatory aspects of acquisitions and disposals, while Peter Snowdon is focused on retail financial services. Charles Evans and Dorian Drew are recommended for investigations.

Simmons & Simmons’ client base spans the whole institutional market, and the firm represents several leading private banks. Its consumer finance practice is noteworthy, as is its cross-border regulatory work. Charlotte Stalin, Darren Fox, Sarah Bowles and Jonathan Melrose are key contacts. On the contentious side, the firm advised on controversial regulatory issues arising from hedge funds. Richard Sims is recommended.

Slaughter and May’s recent workload includes advising on the setting up of new businesses, the viability of new financial products, passporting issues, capital raising exercises, consumer credit issues and new regulatory regimes. Ruth Fox is recommended; Jan Putnis ‘provides an outstanding service’; and Ben Kingsley is ‘a thoughtful lawyer’. On the contentious side, the team advised in a multi-jurisdictional SFO investigation. Elizabeth Barrett and Ewan Brown are recommended.

Travers Smith LLP’s team is ‘superb’. Jane Tuckley is ‘truly excellent’; Tim Lewis is ‘a thought leader in his area’; Margaret Chamberlain is ‘a strong department head’; Mark Evans has ‘unparalleled technical knowledge’; and Stephen Paget-Brown is also recommended. On the contentious side, the team advised on loss of client data, market abuse, systems failures and challenges to FSA notices in connection with the approval of individuals as approved persons.

While Jonathan Marsh left Berwin Leighton Paisner LLP to become Vitol’s general counsel, the firm recruited Jacob Ghanty from Pinsent Masons LLP and also DLA Piper UK LLP’s financial services head Daren Allen. The firm advised Chartis on wholesale changes to its approved persons structure, and the practice saw an uptick in actions against financial institutions’ senior management members. Contentious experts Nathan Willmott and Sidney Myers are highly rated.

CMS Cameron McKenna LLP is known for its retail and buy-side expertise, as well as its Europe-wide footprint, but the practice is also strong in wholesale markets. The team advised on the UK regulatory issues involved in Islamic Bank of Britain’s rescue by Qatar International Investment Bank. Paul Edmondson is a key contact, and Simon Morris has ‘an enthusiasm that makes you want to listen to every word he says’. Ash Saluja is ‘knowledgeable’.

Since recruiting Lloyds Banking Group’s former regulatory head Jenny Stainsby, Herbert Smith LLP has increasingly worked with retail banks. Recent highlights include assisting a fund manager in responding to the FSA’s RDR consultation paper and draft rules on changes to the regulation of platform businesses. Patrick Buckingham and contentious expert Martyn Hopper are recommended. Clients appreciate the ‘level of proactive delivery’. Peter Burrell left for Willkie Farr & Gallagher LLP.

Standing out for its European offering, SJ Berwin LLP advised on regulation-led trends such as de-consolidation and non-core asset disposals, corporate transactions pursuant to regulated sector consolidation, the Remuneration Code, the AIFMD, and the European Market Infrastructure Regulations. Tamasin Little leads the team; David Calligan advises on compliance; and Gregg Beechey is ‘the rising star’.

Stephenson Harwood saw an increase in instructions relating to ARROW visits and advice on capital adequacy. It also gained market share in the consumer credit area, and advised in criminal proceedings brought by the FSA. Charlotte Hill heads the non-contentious practice, and contentious head Tony Woodcock is ‘an exceptional talent’. The ‘technically strong’ Sean Jeffrey joined from Freshfields Bruckhaus Deringer LLP, along with the ‘impressive’ Sara George from Allen & Overy LLP.

‘Responsive to clients ’ needs’, Addleshaw Goddard LLP provides advice across all aspects of banking, building society and investment regulation, and is establishing a strong reputation in the area of prudential regulation and in wholesale markets, where the practice advises multilateral trading facilities. John Ahern and David Heffron are key contacts, along with Elizabeth Robertson on the contentious side. Jonathon Watson, former UK head of legal at UBS Wealth Management, joined the team.

As a leading adviser to the City’s authorised fund sector, Eversheds LLP provides regulatory advice to asset management houses, and is a market leader on regulatory issues affecting the buy side of the industry. Pamela Thompson is widely praised, and Michael Wainwright is ‘particularly good’. Clients include Henderson Global Investors and Lloyds TSB.

Field Fisher Waterhouse LLP’s Kirstene Baillie advises on regulatory developments, particularly with regard to new funds, and ‘sorts out complex issues in an efficient manner’. Duncan Black’s work includes market abuse, systems and controls, fitness and propriety, conflicts of interest and money laundering; he ‘relishes the complexities of regulatory work’.

Bridget Barker heads the group at Macfarlanes LLP, with David Berman noted for non-contentious issues and Barry Donnelly for contentious matters. The team recently advised on compliance reviews, and on the application of client money rules and regulatory issues surrounding the establishment of an innovative fund, as well as handling FSA disputes and market abuse issues.

At Mayer Brown International LLP, regulatory investigation expert Marc Cohen joined the team from the firm’s Washington, DC office on a three-year secondment, and Mark Compton arrived from BP. Cohen’s ‘ability to make things happen, particularly in foreign regulatory matters, is difficult to match’. Angela Hayes has ‘good knowledge’, and Ed Sautter is also highly rated.

Reed Smith’s Jacqui Hatfield has ‘detailed knowledge of financial regulation practice’. The team advised Federated Investors on the position under Basel, the EU and the UK in terms of the functional equivalency of money market funds. The team also includes ‘technically good’ litigation partner Robert Falkner, who arrived from Morgan Lewis; contentious expert Charles Hewetson, who ‘knows what clients want’; and Simon Hart, also a key contentious contact.

Shearman & Sterling LLP has both UK and US capabilities. The team advised US-based DTCC on setting up a subsidiary to run a new global derivatives repository. Barney Reynolds is a principal contact, and Richard Kelly has investigations experience. Azad Ali is also recommended.

Speechly Bircham LLP’s Vincent Mercer has ‘deep knowledge’. The team advised on the FSA’s treatment of carbon credits, the application of regulation for traders in the London markets, FSA applications for approved person status, and regulatory changes in the private banking sector. Jonathan Bayliss and Nick Janmohamed are recommended.

The arrival of Ian Mason from Barlow Lyde & Gilbert LLP boosted Baker & McKenzie LLP’s practice. The team advised on the FSA’s remuneration rules, the Payment Services Directive, and US-related regulatory developments. The team was also active in regulatory issues arising from consolidation in the banking and financial services industry, and mis-selling issues. Arun Srivastava is highly rated.

Insurance is at the heart of Beachcroft’s practice. The team advised on the Solvency II Directive; assisted with regulatory issues arising from global distribution arrangements in relation to medical insurance; and prepared new standard terms of business agreements for the distribution of insurance products. Allianz, Skandia and Zurich are clients. David Hunt is a key contact, and James MacNish Porter advises on regulation, with a particular interest in insurance and wealth management businesses.

Experienced in supporting bank and building society clients, DLA Piper UK LLP also has a network of regulatory experts across Europe in addition to its London team. Contentious highlights ranged from advising banks, hedge funds, and insurance industry players on complaints handling, PPI mis-selling, and complex market abuse cases. Michael McKee is recommended, and Elisabeth Bremner is noted for contentious matters.

Sidley Austin LLP is noted for complex cross-border matters. The team advised a US-based hedge fund trade association on the AIFM Directive, the proposed EU Regulation on Short Selling and Credit Default Swaps, and MiFID. John Casanova is recommended; and Leonard Ng ‘shows a highly professional approach’.

White & Case LLP welcomed regulatory specialist Stuart Willey from the FSA, where he was chief counsel. The team advised on the establishment of a new UK shari’ah-compliant retail bank. Carmen Reynolds and contentious expert Alistair Graham are recommended.

Barlow Lyde & Gilbert LLP is ‘excellent for regulation’. The team achieved a number of successes in appealing cases to the Regulatory Decisions Committee. Chris Brennan was appointed partner, and Josie Marwick joined from the FSA.

Covington & Burling LLP focuses on advising banks, investment managers, institutional funds and broker-dealers, with an emphasis on the asset management sector. Simon Currie is recommended.

To complement the firm’s established presence on the insurance side of financial services, Dewey & LeBoeuf LLP recruited Robert Finney from SNR Denton, who is looking to build the financial services practice in the area of banking and investment services across Europe and the Middle East. The practice advised on the marketing of non-EU equities into Europe; capital and liquidity issues arising from a regulated financial institution’s proposed acquisition of a minority shareholding; and the avoidance of market abuse issues in an IPO context.

Recent work for Dundas & Wilson LLP includes advising on the second e-money directive and the client asset rules. Patrick Brandt has ‘the ability to speak to the complex FSA laws in a straightforward, jargon-free manner’; and Philip Mackay is also recommended.

Farrer & Co recruited Robert Guest from Rosenblatt Solicitors, where he was head of financial services. The team obtained authorisation for a UK-domiciled Qualifying Money Market Fund structured as a UK OEIC. Grania Baird is ‘knowledgeable and responsive’.

Jones Day recently submitted and negotiated various non-standard controllership and other applications to the FSA; Tim Flood is a key contact. Michael Brown is experienced in advising financial institutions on contentious matters relating to financial structures and products, and bribery and corruption.

Kirkland & Ellis International LLP advises clients setting up new financial services businesses, and acts on the regulatory issues surrounding the acquisition of financial services businesses. Lisa Cawley is recommended; and Stephanie Biggs has expertise in regulatory matters affecting private equity firms.

Lawrence Graham LLP advised on the setting up of new financial services enterprises in the UK by overseas institutions, and saw increased contentious and payment services regulation work. Richard Everett has ‘first-class industry knowledge’.

Nabarro LLP’s team head Adrian Brown and Sam Robinson joined from SJ Berwin LLP. The practice advised on a pre-packaged administration sale, the role involving liaising with the FSA to ensure compliance prior to administration. Rob Moulton moved to Ashurst LLP.

Olswang’s work ranges from advising investment banks on regulatory capital matters and the FSA’s Remuneration Code, to advising retailers on consumer credit law. The team has particular expertise in the payments sector. Brian McDonnell ‘combines outstanding legal knowledge with business expertise’.

Paul, Hastings, Janofsky & Walker (Europe) LLP focuses on the regulatory side of domestic and international finance. Thomas O’Riordan is valued for his ‘insightful contributions’.

Pinsent Masons LLP advises on regulatory obligations and investigations, and has a dedicated insurance-sector regulatory team. Tim Dolan is a key contact. Al-Harith Sinclair joined from DLA Piper UK LLP, while Jacob Ghanty left for Berwin Leighton Paisner LLP.

PricewaterhouseCoopers Legal LLP advised Jersey Finance in relation to AIFMD’s impact for fund management businesses based on the island. Laura Cox heads the team. James Greig advises on funds’ regulatory issues.

Reynolds Porter Chamberlain LLP focuses on the London insurance market, financial advisers and wealth managers, and the financial services divisions of professional firms. Jonathan Davies is ‘a recognised leader for regulatory legal expertise in the London and Lloyd’s markets’. Contentious specialist Steven Francis is also well regarded.

Noted for regulatory consumer finance matters, Salans’ ‘response times are excellent’. Paula Howard has ‘excellent consumer credit expertise’; and Bill McCaffrey ‘offers depth of industry knowledge’.

TLT LLP provides regulatory advice in relation to financial services products, including mortgages. Suzanne MacDonald is a ‘standout lawyer’.

Taylor Wessing LLP’s Clive Cunningham is noted for regulatory advice to the financial services, banking and funds sectors.

A ‘go-to’ firm for contentious financial regulation, particularly for retail matters, Bingham McCutchen (London) LLP can draw on practical expertise gained from in-house FSA experience. Peter Bibby is ‘always on top of whatever he does’, and Helen Marshall is ‘very good’.

Finers Stephens Innocent LLP’s ‘highly rated’ Philip Rubens advises brokers, hedge fund managers and investment bankers in enforcement proceedings.

Fulbright & Jaworski International LLP’s Chris Warren-Smith and Lista Cannon have experience in investigations, both in the UK and US. Warren-Smith’s ‘dedication to clients makes him invaluable’. Melanie Ryan is also recommended.

Kingsley Napley LLP acts in complex investigations. Stephen Pollard is ‘an excellent criminal lawyer who understands commercial sensitivities’; and Louise Hodges ‘carries weight with the regulators’.

Mishcon de Reya has a growing reputation in litigation and the defence of FSA enforcement actions. Adam Epstein is recommended.

Peters & Peters Solicitors LLP’s work ranges from criminal investigation and prosecution, through to regulatory misconduct, disclosure obligations, and interaction with the FSA as regulator. Monty Raphael QC, Neil Swift and Sarah Gabriel ‘combine astute client manners with expertise’.

BCL Burton Copeland advises in relation to insider dealing and market abuse matters, and other enforcement action. Ian Burton is ‘hugely experienced’; Richard Sallybanks is ‘extremely good’; and Guy Bastable ‘possesses a fearsome intellect’.

Irwin Mitchell LLP’s financial crime regulatory experience is noteworthy. Andrew Wallis is recommended, and Kevin Robinson’s track record includes acting in the largest-ever insider dealing prosecution. Sarah Wallace is ‘dedicated to achieving the client’s best outcome’.

The team at Withers LLP expanded with the arrival of ex-FSA internal troubleshooter Harvey Knight. The practice advised the chief executive of Keydata Investment Services in relation to the FSA’s investigation.

A ‘market leader’, Berwin Leighton Paisner LLP retains one of the standout practices of the mid-market, and handled eight IPOs in 2010. Alex Latner advised Liberum Capital as NOMAD and broker on Squarestone Brasil’s £28m IPO in 2010; Benjamin Lee represented Cenkos Securities as NOMAD and broker on CSF Group’s IPO; and Jonathan Morris advised Seymour Pierce on the $10.4m IPO of Indian film company Photon Kathaas Productions. David Collins is practice head.

The ‘first-class, timely and accurate’ team at Norton Rose LLP has a ‘fantastic practice’, with clients praising the ‘competent and tactful delivery of advice’. The firm is active in the oil and gas arena, and in 2010, Raj Karia advised Liberum Capital as NOMAD and bookrunner on Zanaga Iron Ore Company’s $750m IPO. On the issuer side, the ‘very good’ Simon FT Cox represented Petro Matad in its $54m secondary fundraising on AIM, and Richard Sheen advised Ludgate Environmental Fund on a secondary placing. Elsewhere, Julian Stanier advised Jeffries and Cenkos as joint bookrunnners in a £70m placing by Avanti Communications.

Providing ‘rapid response times and innovative solutions’, Ashurst LLP is rated as ‘technically very strong’. Highlights of 2010 included advising RBS Hoare Govett on Sherbourne’s £105m IPO; and JP Morgan Cazenove as bookrunner of Aberforth Geared Income Trust’s £75m IPO. Issuer clients include EnQuest, Helical Bar and RPC Group. Nicholas Holmes, Nick Williamson, and Nick Bryans are recommended. Jonathan Parry made partner in 2010.

DLA Piper UK LLP handles large deals for an impressive roster of clients, including Credit Suisse and Deutsche Bank. On the issuer side, Jon Hayes led in advising Better Capital in its move from AIM to the Official List and a £67.6m fundraising. Head of capital markets Alex Tamlyn recently advised Investec Bank.

Lawrence Graham LLP has a ‘very good’ mid-market practice. John Reed and Oliver Riley advised BlackRock Frontiers Investment Trust on its admission and £95m placing on the London Stock Exchange; and Tom Nicholls advised Indian company KSK Power Ventur on its Standard Listing on the London Stock Exchange and subsequent £62.5m fundraising. Jeffrey Elway is recommended.

Iain Newman leads the ‘very capable’ team at Nabarro LLP. Highlights of 2010 included advising Cenkos as NOMAD and broker on the £130m IPO of SKIL Ports & Logistics, and Sportingbet in its move from AIM to the main market. Alasdair Steele advised Arden Partners as financial adviser and broker on KSK Power Ventur’s secondary listing on the London Stock Exchange.

The ‘very good’ Max Audley and ‘unflappable and thorough’ Paul Blackmore lead the ‘first-class’ team at Olswang. ‘Well above the average in terms of legal talent and knowledge’, the team is valued for its ‘straightforward advice’ and ‘imaginative and innovative approach’. Paul Guite is a ‘very good all-rounder’; Tony Leifer has ‘strong technical knowledge’; and Simon Morgan is ‘extremely diligent’. Recent clients include Information Technologies and Chrysalis, and brokers Winterflood Securities and Jendens Securities.

Renowned for its focus and expertise in Asia, Stephenson Harwood has a strong offering in the mid-market, regularly representing issuer clients. Peter Bradley recently advised Malaysian data centre company CFS Group on its IPO on AIM, and also acted for Indian company iEnergizer on its £36m IPO. Tony Edwards is currently advising Petrolatina on its proposed IPO.

Travers Smith LLP is a ‘top-class outfit’ rated for its ‘high level of partner input’. The ‘excellent’ Spencer Summerfield recently advised NBNK Investments on its £50m IPO; Neal Watson advised Fairfax as NOMAD and Promethean Investments as shareholder on the £50m IPO of Cambria Automobiles; and Aaron Stocks advised Metric Property Investments in its £190m IPO and admission to the main market. Andrew Gillen is ‘very measured and commercial’. The firm added US capability to the team in March 2011 with the hire of Charles Casassa from Clifford Chance.

Addleshaw Goddard LLP is recommended for mid-market matters, with Simon Griffiths at the helm of the practice. In 2010, the team advised Rockhopper Exploration on its £206m share placing on AIM. Newly promoted partner Nick Pearey advised Betfair’s founder and chairman in the selling of his stake in the £1.3bn IPO. Macquarie Capital and Execution Noble are also clients.

CMS Cameron McKenna LLP has seen some changes of late, with the departure of Michael Jones, who joined a client as general counsel, and the strengthening of its US component with the hire of Daniel Winterfeldt from Simmons & Simmons. Gary Green advised Russian and Ukrainian dairy producer Milkiland on its PLN236m IPO on the Warsaw Stock Exchange.

Charles Russell LLP has experience advising issuer clients. Highlights of 2010 included practice head Simon Gilbert advising Origo Partners on a $30m placing and a $60m placing and listing on AIM, and also acting for Mwana Africa on two cash placings totalling £16.8m. Clive Hopewell acts for clients including Centamin Egypt.

The ‘extremely good’ team at Covington & Burling LLP advised Baltic Oil Terminals on a £4.1m placing on AIM in 2010, and Piper Jaffray on the placing and open offer of Vernalis. Simon Amies provides ‘solid and commercial legal advice’; and Peter Laveran-Stiebar handles US matters. Paul Claydon, Natalie Diep, James Halstead and James Gubbins joined from Morrison & Foerster (UK) LLP, significantly boosting the practice.

With ‘very good industry knowledge’, Eversheds LLP advises both issuers and broker clients on AIM transactions. The ‘experienced and dependable’ Neil Matthews acted for Ilika on its £20m IPO in April 2010; and Chris Halliday advised Libertas Capital as NOMAD and broker in three IPOs on AIM totalling £83m. Stephen Nash is also recommended.

Energy and natural resources remain a key focus for Field Fisher Waterhouse LLP. The ‘innovative’ Dominic Gurney-Champion advised RBC Capital Markets on Kea Petroleum’s £40m flotation, and Anthony Brockbank advised KPMG Corporate Finance and Mirabaud Securities on the $60m flotation and placing of Central Asia Metals. The ‘first-class and readily accessible’ team is rated for its ‘commercially sound approach’. Amerjit Kalirai joined from Berwin Leighton Paisner LLP.

Giles Elliott leads the capital markets team at Jones Day. The group acts for banks including JP Morgan Cazenove and Jefferies & Co, as well as a number of issuer clients.

K&L Gates has a solid reputation for advising issuer clients. Jeremy Landau acted for HaloSource on its $80m placing and IPO on AIM, and also advised Brady on a £15m secondary offering. The team also represented the Minister of the State Treasury of the Republic of Poland as selling shareholder in the $2.6bn IPO of PZU. Paul Tetlow and James Green joined from Hunton & Williams in 2011.

Robert Boyle leads the team at Macfarlanes LLP, and notably advised Vallar on its £707m IPO in 2010. Elsewhere, the ‘fantastic’ team advised JP Morgan Securities on a £140m rights issue and warrant placing by Imperial Innovations Group. Graham Gibb is recommended.

Providing ‘contextual and concise’ advice, Mayer Brown International LLP has substantial experience in the oil and gas sector. ‘Best in class for the price range’, the team advised Entertainment One in its move from AIM to a standard listing on the London Stock Exchange, and also advised Imperial Innovations in a £140m rights issue. ‘Excellent in every way’, Robert Hamill is a ‘sector specialist in global energy’. Kate Ball-Dodd has a ‘solid grasp on the minutiae’, and Stephanie Bates and William Charnley are also recommended.

Lesley Gregory heads up the team at Memery Crystal LLP, which has expertise in the mining, and oil and gas sectors. In 2010, Nick Davis advised new client African Mining & Exploration on its £4.3m IPO. The team also acts for broker clients, including XCAP Securities, Collins Stewart and Fairfax.

‘Very cost effective and capable’, Osborne Clarke has the ‘commercial and pragmatic’ Ray Berg and Patrick Graves, who is also recommended. In 2010, Jonathan King advised Evolution Securities as NOMAD and broker on the £70m IPO of Argos Resources on AIM, and also Digital Barriers on its admission to AIM and £25m placing. TalkTalk Telecom, French Connection and Tribal Group are also key clients.

Pinsent Masons ‘pulls out all the stops’ for clients. It acted for Horizon Acquisition Company on its £417.7m IPO and admission to the main market in 2010. The ‘knowledgeable and pragmatic’ Jon Harris is ‘one of the most effective lawyers in the AIM market’. Rob Hutchings and Stephen Levy both relocated to the firm’s London office in 2010, from Leeds and Manchester respectively.

Shepherd and Wedderburn’s team is recommended for its energy sector expertise, and is noted for its ‘consistently excellent service’ and ‘calm, methodical manner’. ‘Particularly good in the investment funds arena’, Michael Wylie advised Aberdeen Latin American Income Fund on its £50m IPO and fundraising on the main market. Walter Blake has a ‘prodigious work rate’; and Philip Knowles and Robert Lyons are also recommended. Bank clients include Numis Securities and Collins Stewart.

Simmons & Simmons fields a ‘very good’ team featuring the highly recommended Chris Horton. It has a depth of expertise advising NOMADs and brokers, acting for Evolution Securities and RBS Hoare Govett. In 2010 the team advised Powerflute Oyj on a £25m placing and rights issue.

‘Excellent across all areas’, Beachcroft advises issuer clients on AIM and PLUS transactions. Nick Gibbon is recommended, and Matthew Darling is an ‘excellent commercial lawyer and problem solver’. Associate Michelle Jones is an ‘absolutely safe pair of hands’.

John Turnbull at Bircham Dyson Bell LLP advised BWA Group on its admission to PLUS in 2010. The team continues to advise AIM-listed clients including Quadrise Fuels and Metrodome Group.

‘Outstanding in all respects’, the team at Bird & Bird expanded in 2010 with the hire of ‘excellent negotiator’ Richard Eaton and Struan Penwarden from Orrick, Herrington & Sutcliffe (Europe) LLP. The team advised blinkx on a share offering to raise £19.5m. Simon Allport is a ‘technical expert’.

The ‘extremely good’ team at Cobbetts LLP is highly rated for its knowledge of the oil, gas and mining industries. Charles Bond acted for Strand Hanson and Mirabaud Securities on Caparo Energy’s admission to AIM and a £50.2m placing. Daniel O’Gorman also advised healthcare IT company EMIS Group on a £50m fundraising and £175m admission to AIM. Andrew Wright is praised for his ‘commercial strength and practical advice’, and Sefton Collett is ‘thorough and efficient’.

Fasken Martineau LLP has expertise across the oil and gas, mining, telecoms and life sciences sectors. June Paddock and Abayomi Akinjide advised Sinclair Pharma on a £19m placing and open offer; and David Smith acted for Kea Petroleum on its incorporation, three equity fundraising rounds and its admission to AIM. Catherine Moss joined from Halliwells in 2010.

Ashley Reeback at Finers Stephens Innocent LLP advised Cenkos Securities as NOMAD and broker on a £7.75m placing of shares on AIM. Issuer clients include Mirada and Jelf Group.

Fladgate LLP provides ‘fully considered solutions’, and recently advised PeerTV on its IPO and admission to AIM. David Robinson is ‘highly knowledgeable and proactive’, and Avram Kelman is a ‘superior lawyer’.

Gibson, Dunn & Crutcher LLP fields an ‘outstanding’ team rated for its ‘consistent quality’. Notable mandates included assisting Vallar on its IPO on the London Stock Exchange. Kenneth Lamb is ‘among the best’, and Selina Sagayam is also recommended. Jefferey Roberts joined from Freshfields Bruckhaus Deringer LLP in 2010.

Howard Kennedy’s team features the recommended Dov Katz and Keith Lassman. A highlight of 2010 was advising Hurlingham (now Manroy) on its admission to AIM and subsequent £6m fundraising. The team also acts for NOMADs, brokers and sponsors.

Simon Charles leads the team at Marriott Harrison, which acted for 3D Diagnostic Imagine on its IPO on AIM. Broker and NOMAD clients include Merchant Securities and Ambrian Partners.

Mishcon de Reya recently advised MP Finance on a Eurobond issuance on the Channel Islands Stock Exchange. Other clients include Bonjour Europe and Sky Alliance Resources. Ross Bryson has an ‘amazing eye for details’. Saul Sender joined from Reed Smith, bringing substantial mining sector knowledge.

Delphine Currie at SJ Berwin LLP led in advising Zimbabwean company Masawara on its IPO and placing on AIM raising $25m. Also active in underwriter deals, Victoria Younghusband acted for Cenkos Securities as sponsor on the £460m IPO of Fidelity China Special Situations.

Speechly Bircham LLP provides ‘expert advice on complex issues’. Tom Shaw advised Avation on its admission to the Official List in 2010. Chris Putt provides ‘prompt responses’, and Nick Janmohamed is an ‘extremely able lawyer’. Clients include Ecclesiastical, Arbuthnot Securities and Kryso Resources.

The merger of Squire Sanders Hammonds significantly boosted the capital markets team in London, adding three partners to the group. Jane Haxby heads the team from Manchester, and advised GB group on its move to AIM from the Official List. Other clients include Rurelec, K3 Business Technology and Panmure Gordon.

Taylor Wessing LLP’s ‘strong team’ features Tim Stocks and new partner Tandeep Minhas, who joined from SJ Berwin LLP. The team advised Guggenheim Global Infrastructure Company on a sale of assets to Infrastructure India and related $52m placing.

Watson, Farley & Williams LLP is known for its work in the oil and gas sector. Notable mandates of 2010 included advising Madagascar Oil on its £50.5m IPO on AIM, a transaction led by Chris Kilburn. Jan Mellmann advised Equatorial Palm Oil on its £6.5m IPO on AIM.

Also recommended are: Chris Godfrey at Burges Salmon LLP; Martin Thomas and Dearbhla Quigley, who joined Chadbourne & Parke (London) LLP from Hunton & Williams; Philip Rogers at Clyde & Co LLP; Dechert LLP’s David Vogel; the ‘exceptional’ Melanie Wadsworth at Faegre & Benson LLP; the ‘very good’ Jonathan Brooks at Maclay Murray & Spens LLP; Orrick, Herrington & Sutcliffe (Europe) LLP’s Hilary Winter; the strong issuer practice at Reed Smith, led by James Wilkinson; Jon Lovitt at Rosenblatt Solicitors; Neil Vickers and Jeremy Cohen at SNR Denton; Paul Salmon at Salans; and ‘very good communicator’ Richard Hildebrand at Trowers & Hamlins LLP.

Chris Godfrey at Burges Salmon LLP is recommended.

Martin Thomas and Dearbhla Quigley joined Chadbourne & Parke (London) LLP from Hunton & Williams.

Philip Rogers is recommended at Clyde & Co LLP.

Dechert LLP’s David Vogel is recommended.

Melanie Wadsworth at Faegre & Benson LLP is ‘exceptional’.

Jonathan Brooks at Maclay Murray & Spens LLP is ‘very good’.

Orrick, Herrington & Sutcliffe (Europe) LLP’s Hilary Winter is recommended.

Reed Smith has a strong issuer practice led by James Wilkinson.

Jon Lovitt at Rosenblatt Solicitors is recommended.

Neil Vickers and Jeremy Cohen at SNR Denton are recommended.

Paul Salmon is recommended at Salans.

Richard Hildebrand at Trowers & Hamlins LLP is a ‘very good communicator’.

‘It is rare to find such client focus and talent with a complete absence of arrogance or attitude’, says one client of Freshfields Bruckhaus Deringer LLP’s corporate team. Seen as one of the leading lights in City M&A, it won a first instruction from BP, and acted on Zhejiang Geely Holding Group’s $1.8bn acquisition of Volvo from Ford. In the UK the team advised on 73 deals with an average deal size of a shade over £1bn. With recommended practitioners Edward Braham and William Lawes increasingly focused on management issues, a new generation of partners has emerged, with David Higgins, Simon Weller and Gareth Stephenson all praised. Mark Rawlinson now heads up the London office.

Despite a cautious return to a sense of normality in the global M&A markets, Linklaters LLP continued to blaze a trail in 2010. It has the strength and depth that few firms can match, and ‘the team is prepared to work whatever hours it takes to get the work done’. Its focus on cross-border premium M&A continued to pay dividends; among an impressive breadth of representative matters, Matthew Middleditch and Iain Wagstaff led the advice to GDF Suez on the $20.2bn reverse takeover of International Power, and the team also handled significant mandates for BP, Korea National Oil Corporation and RBS. Roger Barron is ‘very good to work with’, and Owen Clay, Mark Stamp and Matthew Bland are also recommended.

Slaughter and May’s average UK deal size of £1.3bn puts it at the very top of the market. The firm has set the ‘gold standard’ in terms of clients and partners for some time, and 2010 was no different. Its enviable blend of UK plc and international clients was to the fore last year. It acted for Prudential on its failed $35.5bn bid for AIA, with a team led by William Underhill and the highly praised Nilufer von Bismarck, while other standout matters included acting for Tomkins and the board of Liverpool FC. Gary Eaborn is cited for his ‘intelligent, no-nonsense approach’, and Andrew Jolly is ‘one to watch’. Stephen Cooke, Nigel Boardman, Frances Murphy, Hywel Davies and Andy Ryde are all highly recommended.

As fears of a double-dip recession faded, Allen & Overy LLP continued to increase its market share, and worked on 12 more deals in 2010 than in the previous year. The team advised News Corporation on its high-profile bid to take full control of BSkyB, with a team led by Don McGown; and the highly regarded Richard Cranfield advised on the $3.9bn demerger of Cable & Wireless into two London Stock Exchange listed groups. The team is also retained by an impressive array of clients including GSK, Shell, and The Co-operative Group. The already weighty corporate energy team saw the significant arrival in May 2010 of Paul Griffin and John Geraghty from Herbert Smith LLP. The deep bench of partners also includes Mark Wippell, Alan Paul, Jeremy Parr and Susan Howard, who are all recommended.

Headed by Simon Tinkler, Clifford Chance’s team is variously praised by clients as ‘hungry’, ‘focused’ and ‘sharp’. With a bench strength that competitors find hard to match, it further strengthened its position in the London market with the hire of Steven Fox from Ashurst LLP. Among a first-rate deal sheet, standout matters included advising Deutsche Telekom on the UK merger of its subsidiary T-Mobile with Orange; and Lloyds TSB on the disposal of 70% of its interest in over 40 private equity investments in the UK. The team includes the ‘outstanding’ Spencer Baylin and ‘superb’ David Pudge, and David Pearson garners universal praise.

Arguably one of the most improved M&A teams in the City in recent years, Herbert Smith LLP enjoyed an impressive 2010, advising on 47 UK M&A deals with a total value of £69bn. Its London team has made inroads into the emerging markets that few can match, and the much-vaunted $10.7bn acquisition of African telecoms company Zain by new client Bharti Airtel is illustrative of that. The firm also advised a Fayed family trust on the reported £1.5bn sale of Harrods to Qatar Holding, and was also instructed by Arriva and Northern Foods. Practice head James Palmer is a ‘leader in his field’, and Michael Walter is ‘simply a star’. Malcolm Lombers is a ‘very effective M&A lawyer’, and Stephen Wilkinson is praised as ‘approachable and sensible’.

High-class practitioners Stephen Lloyd and Simon Beddow now lead the global transactional team at Ashurst LLP, which advised on 14 more deals in 2010 than in 2009, and includes the highly regarded Adrian Clark and the up-and-coming Jonathan Earle. The firm advised on Chloride Group’s £997m offer from Emerson Electric, and its push into the investment banks in recent years has led to a number of M&A transaction for the likes of Climate Exchange, Brit Insurance and Carluccio’s. Nigel Stacey ‘knows what the client wants’.

Hogan Lovells International LLP has particular strength in the energy, life sciences and insurance fields. With the bedding down of the firm’s merger playing well into these sectors, it has also seen some notable matters outside of these areas. The highly rated Ben Higson advised Citi Infrastructure Partners in its $1.5bn acquisition of a majority stake in DP World’s Australian shipping terminal, and the team also handled a significant divestment for Ford and a $735m acquisition for Eurasian Natural Resources. Maegen Morrison is ‘self assured, and an excellent negotiator’, and Richard Ufland and Andrew Pearson also win plaudits from clients.

Macfarlanes LLP attracts glowing reviews from clients; ‘they are pretty faultless’, and ‘a cut above’. The highly regarded Charles Meek has taken over the reins of the overarching corporate team, while Matthew Blows and Ian Martin oversee the M&A group. The firm’s commitment to developing and maintaining key relationships with international law firms has seen a continued rise in work with a global flavour, for the likes of ICAP and Air Liquide. Standout matters included advising Brit Insurance on the $1.3bn cash offer by Apollo Management, and Brazilian pulp and paper producer Suzano Papel e Celulose on its acquisition of the AIM-listed FuturaGene. Graham Gibb is singled out as a star of the practice, and senior partner Charles Martin has been spending an increasing amount of time at the deal coal face.

Norton Rose LLP is consistently praised for its ‘sensible approach to the client’s demands’ and its ‘spirit of co-operation’, as well as the ‘top quality’ of its work’. Such accolades are unsurprising looking at its track record in recent years, and with an average deal size of over £1bn, 2010 was another fruitful year. A deal sheet that should be the envy of its competitors saw the firm advise on the $1.4bn merger of Peter Hambro Mining with Russian iron ore mining company Aricom and the subsequent move onto the FTSE 250; and also the British Airways-Iberia merger, and RWE’s €9.3bn acquisition of Essent. Experienced public M&A lawyer Ian Lopez joined the firm from Allen & Overy LLP, and Chris Pearson and Robin Brooks are highly recommended by clients.

By some margin the leading M&A practice of a US firm in the City, Skadden, Arps, Slate, Meagher & Flom (UK) LLP is praised for its ‘excellence in industry expertise’, ‘resourcefulness’ and ‘exceptional attention to detail’. There are few European cross-border deals that happen without some sort of involvement from the firm, and 2010 was no exception. Its average deal size for European M&A was over €2bn. Highlights included acting for Altimo, the largest shareholder in VimpelCom, on the $30bn merger between Kyivstar and VimpelCom; handling the defence against a €7.5bn unsolicited proposal by Telefónica for Portugal Telecom; and deals for Nokia Siemens Networks and News Corporation. The impressive, ten-partner team includes the ‘hardworking, quick and brilliant’ Michael Hatchard, ‘commercially savvy’ Adrian Knight, and ‘seemingly tireless’ John Adebiyi. Allan Murray-Jones and Scott Simpson also come highly recommended.

Baker & McKenzie LLP has seen a significant uptick in the number of multinational companies looking to invest in emerging markets, with some key FTSE-listed companies seeking the firm’s strategic advice. In a deal characteristic of the practice, Helen Bradley led on Ensco’s $7.3bn acquisition of Pride International, and practice head Tim Gee also advised Kuoni Travel on its $705m acquisition of Gulliver Travel from Travelport. The team is praised for its ‘excellent process and execution knowledge’, with Kirsty Wilson and Richard Blunt both picked out for their ‘superb client service’.

The 30-partner team at CMS Cameron McKenna LLP, headed by Andrew Sheach, advised on four deals over £1bn in 2010, and ‘punches above its weight’. It has a ‘friendly, “can-do” approach’ and ‘a clear desire to be excellent advisers’. Its standout deal was advising MetLife on its $16.2bn acquisition of ALICO, with a team led by the highly rated Chris Southorn; and the ‘creative and intelligent’ Louise Wallace led a team advising Camelot on its sale by a high-profile consortium to Ontario Teachers’ Pension Plan for £389m. The ‘excellent’ and ‘energetic’ Sandra Rafferty attracts high praise, and Gary Green is also recommended.

Cleary Gottlieb Steen & Hamilton LLP ‘provides a first-class service with an outstanding level of skill’. With just four London-based partners, it continues to act on some of the largest cross-border M&A deals; the team handled a select 11 UK deals in 2010, with a good chunk of them well over the £1bn mark. It advised TPG in the sale of its majority shareholding in Turkish spirit manufacturer Mey Icki Sanayi ve Ticaret to Diageo for around £1.3bn; other representative matters included deals for Ontario Teachers’ Pension Plan and Grupo Kuo. Tihir Sarkar has ‘an acute business sense’; Michael McDonald has ‘top-quality financial services expertise’; and Simon Jay and Samuel Bagot are also highly regarded.

Latham & Watkins LLP claims it had its most successful year in the UK M&A market in 2010 since it launched 20 years ago, and the numbers certainly show a marked improvement. The team, headed by Graeme Sloan and praised as ‘clear sighted’ and ‘pragmatic’, advised on 37 deals with a total value of £23.8bn. Continuing to play to its private equity strengths, the team has done well acting for a number of sovereign wealth funds in recent years, including the Qatar Investment Authority on the acquisition of Harrods. It advised Vedanta on the market-leading $8.46bn acquisition of Cairn Energy. Rory Negus attracts high praise, as does Nigel Campion-Smith. The team was boosted by the arrival of Glen Ireland from White & Case LLP.

Shearman & Sterling LLP ‘has the expertise where it matters’, and Creighton Condon is consistently singled out for his dealmaking abilities. The London team was involved on one of the highest-profile UK M&A deals in 2010, acting for New England Sports Ventures on its £300m bid for Liverpool FC, led by Condon and the highly regarded Laurence Levy. George Karafotias headed up a team on Ardagh Glass’ €1.7bn acquisition of metal packaging company Impress Coöperatieve.

Travers Smith LLP’s strength in private equity has long proved a useful bedrock to the M&A practice, but in recent years work for general corporates has been on the rise. It acted on some 51 deals, marking a very successful year. Headed by the well-regarded Spencer Summerfield, it advised longstanding client Peel Group on its strategic partnership with Capital Shopping Centres Group and £1.65bn acquisition of The Trafford Centre. Richard Spedding is ‘unflappable’; Philip Cheveley ‘demonstrates top-level skills’; and Andrew Gillen is ‘exceptional’. The team recruited its first US-qualified partner in 2011, with Charles Casassa joining from Clifford Chance.

Weil, Gotshal & Manges saw a number of new-money acquisitions and an increase in share-for-share deals in 2010, acting on 34 deals in 2010 in total, with an average deal size of £930m. The firm advised Home Delivery Network on its acquisition of DHL Domestic; and Advent International and Bain Capital on the £2bn buyout of WorldPay from RBS. Mike Francies attracts high praise from clients, with Peter King also recommended. The firm’s leading European private equity practice is an excellent source of work for the M&A team.

Mayer Brown International LLP is ‘especially adept at identifying commercial strategies as well as purely legal advice’. The team, headed by Peter Dickinson, acted on 35 deals in 2010, and gained clients including Caterpillar and the Royal Mail. It advised the five selling shareholders on the sale of Camelot to Ontario Teachers’ Pension Plan for £389m. Jeffrey Gordon is singled out as ‘the standout lawyer in the practice’, and William Charnley is noted for his ‘strong commercial skills’. Kate Ball-Dodd, Richard Page and Andrew Stewart all attract praise from clients.

SJ Berwin LLP ‘listens to what the client wants’. The team racked up an enviable deal sheet in 2010, including advising Apax Partners on the sale of a stake in the buyout house to Chinese sovereign wealth fund China Investment Corporation, led by the highly rated Steven Davis. Other representative matters included advising Boparan Holdings on its £342m offer for Northern Foods. Michael Goldberg and Tim Wright are recommended.

Under Ashley Ballard, White & Case LLP has a strong practice in cross-border M&A with a London focus, especially out of emerging markets, and saw two significant arrivals: David Crook from Freshfields Bruckhaus Deringer LLP, and Gavin Weir from Simmons & Simmons. The team saw standout deals for Unimilk shareholder Meridian Capital on its $2.6bn merger with Danone in Kazakhstan, Ukraine and Belarus; and FTSE 250 company Afren in its recommended acquisition of Black Marlin Energy. Clients also pick out Peter Finaly and Alan Burke.

Simpson Thacher & Bartlett LLP’s global M&A and private equity brand continues to deliver some leading mandates to its European practice, and with Adam Signy well settled in, its UK law practice is going from strength to strength. As well as handling its usual mix of mandates for KKR and Blackstone, it advised China Railways Materials Commercial Corporation on the acquisition of its 12.5% equity stake in African Minerals.

Sullivan & Cromwell LLP has in Tim Emmerson ‘one of the premier public company lawyers in the UK market’. In total the London practice worked on 23 UK M&A deals in 2010, notably advising Goldman Sachs PIA on its acquisition of Ontex for around €1.2bn, and handling a string of mandates for Rio Tinto in the divestment of its Alcan Global Packaging businesses.

Addleshaw Goddard LLP has pushed hard to become one of the key advisers to all the leading banks for mid-market matters. James Dawson is the new head of the team, and Andrew Rosling is highly recommended. The team acted for Delta on its £285m takeover by Valmont Industries.

Berwin Leighton Paisner LLP advised on 29 deals with a total value of £1.73bn in 2010, and counts BGC Partners and Ladbrokes among its new clients. The M&A practice, headed up by David Collins, saw a wide range of transactions, including advising Dinu Patriciu Global Properties in its £413m cash offer for DP Property. Michael Anderson is also recommended.

DLA Piper UK LLP acted on 112 M&A deals in 2010, over double its deal volume compared to 2009, with a total value of £12.6bn. In a deal standing apart from its mid-market work, the firm acted for Cheung Kong Infrastructure on the £5.8bn acquisition of EDF’s UK electricity networks, with a team headed by John Hayes.

Jones Day’s team is ‘very dedicated, always on time, and high quality’. The highly regarded Giles Elliott stepped up to become head of the M&A practice, with the incumbent John Phillips taking over as office chief when Russell Carmedy left for Proskauer Rose LLP. The practice acted on a total of 33 deals over the course of the year, including advising ENRC on its $300m acquisition of Enya Holding, and acting for regular client London & Stamford Investments on the £208.5m buyout of the share capital of Radial Distribution. The team includes the ‘proactive and hands-on’ Leon Ferera.

Kirkland & Ellis International LLP’s depth in private equity gives it an edge in the City over some US rivals, and the arrival of UK-qualified lawyers Gavin Gordon and David Arnold from Ashurst LLP enhances that reputation. 2010 brought a string of deals for Bain Capital, Towerbrook Capital and Apollo Management.

Simmons & Simmons saw a strong line in energy-related M&A in 2010, thanks to its sector focus. It advised Cheung Kong Infrastructure on its £211.7m acquisition of BG Group’s stake in Seabank Power, and also handled deals for Veolia Water and Elliott International. On the financial institutions side, there were impressive mandates for Gartmore, and The Takeover Appeal Board. The 17-partner team, headed by the well-respected Mark Curtis, saw the departure of Gavin Weir at the beginning of 2011 to White & Case LLP.

Covington & Burling LLP ‘provides an excellent level of service’, and the firm’s sector expertise in life sciences, media/telecoms and energy led to a good flow of work in 2010. It advised Baltic Oil Terminals on its acquisition of Petroval Bunker, with a team led by Simon Amies.

Debevoise & Plimpton LLP brought in senior private equity partner David Innes from Travers Smith LLP to its London team in 2010, giving its UK law capability a boost. The team advised on KazakhGold Group’s $10bn proposed combination with Polyus.

Greenberg Traurig Maher LLP provides ‘an exceptional and distinctive client service philosophy and approach’; Paul Maher is a ‘talented and experienced leader of the firm, and sets the standards’. The team recently advised AstraZeneca on its disposal of its Astra Tech business to DENTSPLY for around $1.8bn.

King & Spalding International LLP’s double partner hire of Garry Pegg and Hywel Jones from Hogan Lovells International LLP significantly boosted the firm’s London office. Its cross-border practice, particularly into Russia, is very highly regarded. John Keffer advised GE Oil & Gas on the sale of its 50% stake in a Qatar pipeline.

At Sidley Austin LLP, practice head Tom Thesing provides ‘practical yet sophisticated advice and guidance, and is a highly effective negotiator’. The team acted on 16 deals for the likes of the Aon Corporation and FLIR Systems. Thesing acted for Cornerstone on the acquisition of Protego Real Estate investors.

Against the background of the firm’s towering strength in energy and commodities, Vinson & Elkins RLLP’s London team has built a solid reputation for emerging markets M&A. Office head Alex Msimang led two significant deals for Statoil, including the $3.1bn sale of companies holding a 40% stake in the Peregrino oilfield in Brazil to Sinochem.

The 44-partner team at Eversheds LLP had another busy year in 2010, acting on 47 UK M&A deals, and seeing an increase in work on multi-jurisdictional reorganisations for the likes of Heinz. Its highlight was advising Dimension Data on its £2.1bn takeover by NTT Corporation. The team is praised for its ability to ‘exercise judgement on what is important’; Robert Pitcher is valued for his ‘advice and commercial acumen’, and Chris Halliday, Neil Matthews and Mark Spinner are also singled out for praise.

Nabarro LLP’s ‘practical’, ‘cogent’ and ‘commercial’ practice, headed by Iain Newman, has an enviable roster of AIM-listed clients. The ‘practical’ Warren Taylor led a team advising Caledon Resources on successive takeover approaches, with the final one, from Guangdong Rising Minerals for £252m, still ongoing. Clients praise the ‘authoritative’ Andrew Inkster and Patrick Speller.

Olswang had a remarkable 2010, handling 35 UK M&A deals with an average deal size of £108m. The firm is ‘well informed on a global basis, and has a great network’. Its traditional strengths in media, technology and leisure came to the fore with a strong deal sheet, including the sale of Shine to News Corporation for £415m. David Roberts ‘is amongst the best there is’.

Pinsent Masons LLP ‘pulls out all the stops when the need arises’, and is one of the leading advisers to FTSE clients in the mid-market, completing over £3bn-worth of deals in 2010. The team advised a group of Chinese investors on a $185m investment into AIM-listed company Oxus Gold. The nine-partner team in London includes leading names Gareth Edwards, who heads the practice, and Jon Harris, who is ‘knowledgeable and pragmatic, and gets the job done’.

SNR Denton’s TMT and energy expertise makes for a good flow of work for the likes of EDF, Total and Virgin Group, and the team has had some significant client wins in the sports sector, in Watford Leisure and Group Lotus. Co-head of the practice Jeremy Cohen is ‘very knowledgeable and cool under pressure’, and Richard Macklin is also highly rated. The team advised Virgin Money on the takeover of Church House Trust and the acquisition of Intelligent Managed Services.

Squire Sanders Hammonds handled 27 corporate finance deals in 2010 totalling £1.9bn, for an impressive breadth of clients. A highlight was advising BSS on its takeover by Travis Perkins for £583m, and Care UK on its buyout by Bridgepoint. Trevor Ingle ‘has exactly what you need to be a successful M&A lawyer’. Tim Hewens and James McKay are praised for their ‘exceptional level of service’, and Giles Distin for his ‘knowledge of listed markets’.

Wragge & Co LLP ‘provides an extremely high calibre of service’, with ‘excellent response times’. Headed by Richard Haywood, the 13-partner team handled 10 deals over the £50m mark in 2010, and won its first corporate deal from Premier Foods, the £182m sale of its tinned grocery business to Princes. Andy Stylianou ‘creates an excellent relationship with his clients’.

Dechert LLP’s private equity driven practice enjoyed another fruitful year. It handled a string of matters for the likes of Altima Partners, and its standout deal was advising the Bank of New York Mellon on its £235m acquisition of Insight Investment from Lloyds Banking Group. Sean Geraghty is recommended.

Clients are quick to acclaim Dewey & LeBoeuf LLP’s ‘top-quality commercial advice’, its strength in emerging markets contributing to a good flow of M&A work through London. Practice head Stephen Horvath led a team advising Raiffeisen Bank International on its €490m acquisition of a 70% share in Polbank.

‘Excellent across the board’, McDermott Will & Emery UK LLP made the significant lateral hire of Mats Sacklén from White & Case LLP to head up its European M&A team. The team draws on the wider firm’s experience in energy and commodities, recently advising on the $640m disposal of Shell’s downstream business to ST1 Group. Nicholas Azis is ‘able to straddle a variety of roles simultaneously’; and Hugh Nineham is also picked out by clients.

Led by Adrian Bott, Osborne Clarke’s M&A team chalked up some impressive client wins in 2010, among them Cable & Wireless, French Connection and Topps Tiles, along with a panel appointment by Investec. The team garners plaudits for its ‘responsive, practical advice’, and Ray Berg ‘is an excellent partner who leads transactions in a sensible, practical way’. Indicative of its ability to handle work beyond its mid-market comfort zone, the team recently advised on the £2bn demerger of Carphone Warehouse’s fixed-line telecoms and retail distribution businesses.

Reed Smith advised one of the largest forex brokers in the world in 2010, acting for Forex Capital Markets on its strategic acquisition of ODL Group for $75m. The 20-partner corporate team is praised for its ‘strong subject-matter expertise’, with Philip Taylor attracting high praise. James Wilkinson and David Boutcher are also recommended.

Stephenson Harwood’s M&A capabilities were given a boost in 2010 with the lateral hire of Andrew Edge and Duncan Stiles, both from Ashurst LLP. The team, headed by Sharon White, acted on a number of deals above the £500m mark, most notably advising Abbott Healthcare on its $3.7bn purchase of Indian healthcare company Piramal’s domestic formulations business.

Taylor Wessing LLP bulked up its corporate team with the double hire of Tandeep Minhas from SJ Berwin LLP and Emma Danks from Clifford Chance. Alongside sports and private equity mandates, the team advised esure on its MBO from Lloyds Banking Group, and was instructed by Emap on its acquisition of The Energy Event and related stable of publications. Peter Kempe is ‘an excellent corporate lawyer’, and Martin Winter is also singled out.

Barlow Lyde & Gilbert LLP completed 10 M&A deals in its London office in 2010, including one over the £1bn mark. It counts the likes of Tesco and UPS among its regular clients, and was recently instructed by US renewables giant Sunpower Corporation’s UK and international operations. Simon Gamblin is ‘very efficient, very quick, always willing and always to the point’.

Bird & Bird’s cross-border strength in communications and media came to the fore in 2010. Simon Fielder led the advice to Fluid Music on its €160m acquisition of Mood Media, while Simon Allport headed a team that advised Viacom on the £63.5m takeover of AIM-listed The Indian Film Company.

Field Fisher Waterhouse LLP completed 21 M&A deals with an aggregate value of £2.6bn in 2010, including advising all of the UK’s public service broadcasters and a number of broadband companies on the YouView venture. Andrew Blankfield is ‘one of the top corporate partners in London’.

K&L Gates’s M&A team has seen a fair amount of lateral activity in the last 18 months; in 2010, Carl Liederman and Keith Snedden joined from Arnold & Porter (UK) LLP and Barlow Lyde & Gilbert LLP respectively; and Paul Tetlow and James Green joined in mid 2011, both from Hunton & Williams. Liederman acted for new client CapGemini on the acquisition of Thesys Technologies, and the team also won mandates from CBRE and Halliburton.

Christopher Tite’s team at Lawrence Graham LLP acts for a broad mix of insurance brokers, and energy, leisure, renewables and natural resources companies. It advised Clipper Windpower on its takeover by United Technologies, which valued the company at £139.5m.

Lewis Silkin LLP is one of the leading lights when it comes to media work, and has ‘an excellent approach to commercial work’. Jo Evans is the standout partner, and has the ‘superb combination of knowledge with commerciality’. Philip Lamb acted for Solomon Capital on its £35.76m cash bid for the AIM-listed Metals Exploration.

Mishcon de Reya significantly bolstered its corporate team, hiring Dean Poster and Saul Sender from Orrick, Herrington & Sutcliffe (Europe) LLP and Reed Smith respectively. Nick Davis’ team is ‘excellent at finding solutions and handling negotiations’. It advised Helical Bar on a joint venture with Thameling Group.

Reynolds Porter Chamberlain LLP’s James Mee attracts particularly high praise as an ‘excellent commercial lawyer and overall client liaison’. He led a team that advised Saffron Digital on its sale to HTC Corporation.

The ‘exceptionally professional’ and ‘very commercial’ team at Trowers & Hamlins LLP saw a good line in work from existing clients in 2010. Richard Hildebrand and James Lyons advised Western Coal on its takeover of AIM-listed Energybuild, which valued the company at £56m. Practice head Michael Pattinson is the key figure.

Akin Gump Strauss Hauer & Feld’s emerging markets capabilities earned it a place on some of the most significant transactions of 2010, including VimpelCom’s combination with Weather Investments. Headed by Steve Blakeley, the team also advised on a 50:50 joint venture between Bridas Energy and CNOOC on its acquisition of a 60% stake in Pan American Energy worth $7.1bn.

Charles Russell LLP’s total deal value exceeded £1.5bn in 2010, with many deals over the £50m mark. Simon Gilbert’s team continues to advise ITV on corporate matters, while other notable clients include Actis, Zeus Private Equity, the government of the Bahamas, and Exillion Energy.

Clyde & Co LLP hired a staggering seven new partners into its corporate practice in 2010, from the likes of Field Fisher Waterhouse LLP, Addleshaw Goddard LLP and Hill Dickinson LLP. On the deal front, much of its work came from its continued drive to win foreign mandates; highlights included advising New Age Africa in taking a 25% stake in an oil production and sharing contract in the republic of Congo.

Dundas & Wilson LLP ‘seems to offer a more personal service’. The team weathered a difficult year for transactions, with increased deal flow across the board. Simon Sale has been appointed as practice head, and Colin Fergusson is ‘experienced and tenacious’. The team completed its first deal for chemicals company BASF on the sale of its Network Bird business to P&L Systems.

Gibson, Dunn & Crutcher LLP is regularly involved on high-end cross-border deals, and beefed up its English law capability with the addition of Jeffery Roberts from Freshfields Bruckhaus Deringer LLP. Roberts advised the Expro Group on its $120m acquisition of the Production Testers International business, a leading well services business based in Asia.

Holman Fenwick Willan LLP has been handling an increasing flow of foreign and cross-border deals under English law in the shipping, insurance, trade, energy and logistics sectors. The highly rated Alistair Mackie advised French marine services company Bourbon and Rothschild on the $545m sale of 16 supermax vessels.

Salans ‘strikes the right balance between big City firm and a personal service’, and Paul Salmon is ‘a safe pair of hands’. On the deal front, the eight-partner team is active in mid-cap cross-border deals; at the top end of that scale, it advised Sahaviriya Steel on its $468m acquisition of Tata Steel’s steelmaking business in Redcar, Teeside.

The ‘excellent’ Watson, Farley & Williams LLP gives ‘very high partner attention’. Its continued push on the recruitment front saw the arrival of Mark Evans from Constellation Energy, and David Cooke from Maclay Murray & Spens LLP. Jan Mellmann heads the practice, which has a premier shipping and natural resources focus. Christina Howard has a ‘refreshingly common-sense approach to negotiations and drafting’.

Arnold & Porter (UK) LLP capitalised on its strength in retail and life sciences, acting for Urban Outfitters on a string of deals as well as advising on Beeline’s potential joint venture with Old Navy. Paula Levitan is praised for her ‘flexible thinking’. Carl Liederman has moved to K&L Gates.

Baker Botts (UK) LLP delivers an ‘outstanding quality of service’, and advised on 15 deals with a total value of $4bn in 2010. Derek Jones heads the team, which advised Sinochem in relation to its $3bn stake in the Statoil offshore Peregrino oilfield. Other representative clients include GDF Suez and Renaissance Capital. Hamish McArdle is recommended.

Chadbourne & Parke (London) LLP’s English law capability received a boost in 2011, with highly rated corporate partners Martin Thomas and Dearbhla Quigley joining from Hunton & Williams. The firm’s emerging markets expertise generated a number of impressive mandates led out of London, including advising a Kazakh oil and gas family business on a joint venture investment in an oil project in the state. Charez Golvala is a key figure.

Morrison & Foerster (UK) LLP’s life sciences and technology expertise is highly valued by clients, and has translated into instructions on deals such as NTT Data’s acquisition of Keane for around $1.4bn. The London team suffered a blow in 2011, with four corporate partners leaving for Covington & Burling LLP, including corporate head Paul Claydon.

Hilary Winter’s six-partner team at Orrick, Herrington & Sutcliffe (Europe) LLP represented Carluccio’s in relation to the £90.3m offer for the company by a Landmark Group company, C1 Acquisitions.

Paul, Hastings, Janofsky & Walker (Europe) LLP’s London team is praised for its ‘intense work ethic’, and practice head and newly appointed office head Ronan O’Sullivan has ‘a great style’ and ‘a quick, analytical mind’. The firm represented Jacobs Engineering on its $913m acquisition of Oslo-listed Aker Solutions. The group was strengthened recently by the arrival of Garrett Hayes from Macfarlanes LLP.

Steptoe & Johnson advised on M&A transactions that totalled more than $2bn in 2010. The three-partner team attracts high praise; Michael Thompson is ‘not just a good lawyer but also commercially realistic’, and Andrew Bloom is also recommended. Oakley Capital and Smithfield Consultants are regular clients.

Bingham McCutchen (London) LLP acted on transactions totalling $2.25bn in 2010, including advising the bid vehicle controlled by a hedge fund consortium in relation to the €750m acquisition of Wind Hellas, the Greek telecoms company. Vance Chapman and John Clark are the partners of note.

Dickson Minto WS is well known for its credentials in private equity, advising clients such as BC Partners.

Dorsey & Whitney moved once again to boost its London corporate team, hiring Roger Gregory and Chris McFadzean from Brown Rudnick LLP and Latham & Watkins LLP respectively. A strong mid-market performance included advising Shed Media on its £100m takeover by WB Bidco, with a team led by practice head Mark Taylor.

Fried, Frank, Harris, Shriver & Jacobson (London) LLP’s practice head Jerry Walter is highly regarded by clients. Richard May joined the corporate team from Simmons & Simmons, bringing a wealth of financial services expertise. The team regularly advises Virgin Media and Goldman Sachs on a range of global matters.

Led by Stuart Harray, Milbank, Tweed, Hadley & McCloy LLP’s English law practice dovetails well with the firm’s global US law capability, leading to a string of mandates for financial services clients and an increasing amount of work driven out of the emerging markets.

Keith Black heads the three-partner team at Morgan Lewis, which sets its stall out on complex, cross-border transactions. The team acted on the UK piece of BP’s $1.9bn disposal of assets in Colombia, and also advised the California’s Public Employees Retirement System on taking a 12.7% stake in Gatwick Airport for £100m.

O’Melveny & Myers LLP’s expertise in private equity and funds work feeds into the transactional practice. Justin Stock is the partner of note.

WilmerHale advised BioVex on its $1bn acquisition by Amgen. Michael Holter is an ‘excellent, very thorough and thoughtful’ lawyer, and Tim Corbett is also highly rated.

Winston & Strawn London’s ‘non-ego driven’ practice is notable for its cross-border expertise. Impressive recent mandates included acting for Nigerian oil and gas company SEPLAT Petroleum Development on a major $375m acquisition. Zoe Ashcroft is ‘exceptional’.

Headed by the highly rated Laurence Markham, Beachcroft’s seven-partner team has seen an increase in work coming from some of its major insurer clients. It advised Allianz on a £5m investment in insurance broker Oval. Other representative clients include AXA and Cartier.

Bristows’ formidable strength in IP and technology gives it a sturdy platform from which to grow its corporate team. New client wins include Hewlett-Packard, Smith and Nephew, and WPP. The team is led by Mark Hawes, and includes Ken Boehner. ‘The firm’s sense of client service and value is excellent’.

Burges Salmon LLP’s clients are impressed with ‘the depth of knowledge of the team’, which saw a significant number of joint venture instructions over the year. It acted on 70 transactions in 2010 with an aggregate value of £750m, for clients including Jarden Corporation and International Power. Camilla Usher-Clark is an ‘excellent negotiator’; and Alan Barr, Richard Spink and Mahrie Webb are all praised by clients.

The ‘first-rate’ team at Farrer & Co is ‘attentive and caring’. Adam Walker is ‘the commercial lawyer’s commercial lawyer’; Jai Bal is ‘consistently astute’; Richard Lane is ‘business savvy’; and Jeremy Tizzard is also well regarded. Client wins in 2010 included BPP Holdings and Oxford University. The team advised Serabi Mining in an investment by way of a £3.6m private placement of shares in the company by the Brazilian-based Eldorado Gold.

With a wide range of entrepreneurial clients, Fladgate LLP’s ‘faultless ’ team recently acted for Gü on the multimillion-pound sale of Noble Foods, and Fourth Hospitality on its acquisition of Star Logic. Charles Wander heads the practice; David Robinson ‘gets things instantly, and gives no-nonsense advice’; and Jeremy Whiteson ‘does everything with a minimum of fuss and a maximum of efficiency’.

Harbottle & Lewis LLP’s traditional strength in the media, entertainment and communications sectors continues to serve the M&A practice well. Head of corporate Tim Parker led a team advising MAMA Group on the defence of the £46m takeover offer by HMV. Colin Howes advised the principal shareholders on the sale of the entire issued capital of Monkey Kingdom to NBC Universal. Mark Phillips is also recommended.

Manches LLP ‘shows a strong degree of commercial awareness and understanding’, with head of department Matthew Martin singled out for particular praise. The five-partner team advised All Saints Retail on £20m of investment from Kaupthing Bank. Other representative clients include Moss Bros, Brightside Group and MHM Holdings.

Marriott Harrison has the scope, with 11 partners, to act on a broader variety of deals than some competitors. Jonathan Pearce and Jon Sweet are key figures. With a strong AIM client base, the team advised Clapham House Group on its takeover by Nando’s Group, and Domino Music Group on its acquisition of Oval Group.

Shepherd and Wedderburn gives ‘excellent mid-market advice’, and despite a challenging economic landscape managed to chalk up over 60 deals in 2010. New client wins included AEGON and Porterbrook Leasing. While its bread and butter is the sub-£50m category, 2010 saw the team act for Cairn Energy on its $8.46bn sale to Vedanta Resources, opposite Latham & Watkins LLP. Walter Blake is ‘very commercial, measured and intelligent’.

Speechly Bircham LLP’s deal flow saw a sharp upturn in 2010, with a good proportion of deals above the £50m mark. The firm has seen a significant increase in inward investment transactions by Gulf-based clients, and advised on the multimillion-pound takeover of Execution Noble by Banco Espirito Santo. Tom Shaw heads the team, and Martin Wright is recommended.

Bates Wells & Braithwaite London LLP provides a ‘first-class’ service to its clients, with practice head Mark Tasker described as ‘thorough, prompt and professional’. He joined the firm in 2010 from Fox Williams LLP. The team’s wide range of clients includes Clydesdale Bank, Comme des Garçons, and FinnCap.

Bircham Dyson Bell LLP’s M&A team racked up 22 transactions totalling over £300m in 2010. Its standout deal was advising Smurfitt Kappa on its asset swap with Mondi Group with a total cash cost of £45m. John Turnbull heads the practice.

Nigel Stone’s team at Boodle Hatfield was given a fillip in 2010 with the hire of the highly rated Ute Mueller and Bernd Ratzke from Dawsons LLP, and Richard Beavan from Nabarro LLP. The team advised a consortium of investors on the £33m acquisition of a Jersey property company.

Collyer Bristow LLP’s team, led by Paul Sillis, was strengthened by the arrival of Nick Gould from Ince & Co. The team counts Banco do Brasil and Middlesex University among its key clients.

While Davenport Lyons’ roster of media clients was to the fore in 2010, the team also advised on Millwall Holdings’ £7.5m cash raising, and Laximi BNS Holdings on the financing and acquisition of Colorama Pharmaceuticals. Michael Hatchwell leads the group.

Led by Ian Brent, Davies Arnold Cooper LLP is ‘always willing to get into the business’, with David Manifould noted as ‘very bright, calm and thoughtful’. The team acted on 25 deals with an average deal size of £21.4m, including advising Go-Ahead Group on a number of disposals of non-core businesses.

Edwards Angell Palmer & Dodge UK LLP was in serious investment mode in 2010, hiring Shawn Atkinson from Kirkland & Ellis International LLP and Niall McAlister from CMS Cameron McKenna LLP. The bulk of the team’s work is venture capital, with a particular focus on financial services, credit cards and banking assets. David Ramm heads the group, which has won Carlyle Group and Citibank as new clients.

Faegre & Benson LLP’s predominantly domestic business is boosted by its ties into the US and China acting for private entrepreneurs and larger plcs. The team is noted as ‘understanding the needs of a US publicly traded company’. Paul Finlan and Gary Laitner are the standout partners.

Fasken Martineau LLP continued to invest in its corporate practice with the hire of Catherine Moss from Halliwells. June Paddock leads the team, which excels in AIM matters, particularly in pharma and energy. It counts Alliance Pharma and Oando among its key clients.

Finers Stephens Innocent LLP has ‘good strength in depth’. It advised Yell Group on the acquisition of the share capital of Trusted Places. Practice head Ashley Reeback has ‘excellent commercial acumen’, and Brian Slater has ‘superb tax technical knowledge’.

Craigie Pearson leads the group at Forsters LLP, which recently acted for three investors on their £30m investment into Pinnacle Regeneration Group. It also counts British Airways Pension fund and Soho House Group among its clients.

Fox Williams LLP is ‘well stocked with good lawyers’. The team, headed by Paul Osborne, acted on over 30 deals worth a total of £80m. Peter Faber, who joined from Jones Day, ‘engenders respect’, and Nick Sayers is also recommended.

Howard Kennedy’s overall level of service is described as ‘excellent’, with its dedicated hotels and leisure practice attracting high praise. Led by Michael Harris and including the highly rated Eric Gummers, the team recently advised on the sale of St James Hotel & Club at a reported price of £1m per room.

Ince & Co strikes a good balance in its M&A practice, acting for clients in sectors ranging from shipping to media and e-commerce Stephen Jarvis, who heads the three-partner team, is highly recommended.

Irwin Mitchell LLP’s M&A profile continued to rise with the hire of David Glover from Eversheds LLP. Led by corporate head Andrew Woolf, the firm advised Southbank UK on the reverse takeover of AIM-listed company Nviro Cleantech.

Kemp Little LLP stands out for its commitment to the TMT sector, and is ‘always up to date with industry trends’. The team has seen a number of instructions from high-profile clients, including a string of deals from Thomson Reutuers. A team advised TripAdvisor on the acquisition of Holiday Lettings from Rightmove.

Maclay Murray & Spens LLP’s four-partner London team is headed by Joanna Higton, and picked up a number of financial services and energy mandates over the year, including completing the £84.7m acquisition by Aberdeen Asset Management of RBS’ fund of hedge funds; Guy Norfolk led on the deal.

McGrigors LLP ‘focuses on the real issues, and leaves the “nice to haves” aside’. It was recently reappointed to BP’s UK legal panel, and the international side of its work continues to grow; recent work includes advising Al-Shaheen Energy Services on taking a 50% stake in PII Pipeline Solutions. Mark Waegner is praised as ‘responsive and pragmatic’.

McGuireWoods London LLP is praised for its ‘excellent and attentive service’, and a raft of its partners attract high praise from clients, including Mehboob Dossa, Robert Rakison, Mark Langford and Richard Beresford. Its stock in trade is deals with an international flavour; over 80% of its mandates involve at least one foreign party. It recently acted for NYSE-listed Teledyne Technologies on its $52m acquisition of AIM-listed company Intelek.

Memery Crystal LLP beefed up its corporate team with the appointment of Sean Rush as a partner from Petro-Canada UK. Its market-leading AIM practice had a busy 2010, with standout deals including advising Petro-Canada on its sale to Dana Petroleum for £240m. Andrew Titmas is valued for his ‘integrity and responsiveness’.

Pritchard Englefield’s focus on deals with an international twist continued to serve it well in 2010. The well-regarded Bryan Bletso advised US-based media company PlayNetwork on a joint venture in the UK. Mark Harden is ‘competent and reliable’.

Rosenblatt Solicitors’ four-partner M&A team, led by Tom Ferns, carried out two deals for Richard Desmond’s plc Northern & Shell in 2010, including its acquisition of Channel 5. Ian Rosenblatt and Jon Lovitt are recommended.

Wallace LLP continues to thrive in the technology, sports and media sectors. The firm counts Enic, the majority shareholder in Tottenham Hotspur FC, as one of its regular corporate clients. Rex Newman is popular with clients, and David Judah is also recommended.

Allied to its private client and luxury brand expertise, Withers LLP has focused on building out its ties into the CIS and Italy, and is beginning to punch above its a weight on a number of deals. Paul McGrath led a team that advised the founders of Sophos on its $830m sale to Apax Partners.

Martin Kay at Blake Lapthorn ‘understands the client’. The seven-partner team is valued for its ‘outstanding business acumen’, and regularly acts for Telecom Italia and The Royal British Legion.

The team at Bryan Cave leverages off the firm’s significant US platform, and has growing relationships in the energy sector, advising Rusal among others.

Druces LLP’s four-partner team acted on 34 deals with a total market value of £301m. It recently won appointment to HSBC’s commercial deals panel. Christopher Axford is the standout partner.

Edwin Coe LLP combines ‘solid knowledge’ with ‘a practical approach’, with Andrew Bretherton recommended. The team was boosted by the arrival of Nick Williams from legacy firm Hammonds LLP. The team picked up Ladbrokes as a new client.

Hill Dickinson LLP’s shipping and commodities client base drives much of the firm’s deal flow. Malcolm Entwistle is the key partner.

Laytons has a broad range of clients from small-cap public companies to management at listed companies. Its international client base is growing, particularly from the US. Justin Crewe is highly recommended.

Penningtons Solicitors LLP’s combination with Dawsons LLP in mid 2011 has done much to boost the firm’s M&A profile. New product areas have been introduced, including private equity and joint venture capabilities along with the establishment of an India desk. Simon Bickerdike leads the team.

Alistair Hogarth’s team at PricewaterhouseCoopers Legal LLP noted an uptick in mandates relating to CGT planning. It acts for a good number of management teams on transactions in the sub-£50m category.

Lindsey Hemingway is the standout partner at Rooks Rider Solicitors LLP, which represents entrepreneurs and SMEs.

Wedlake Bell LLP has moved to boost its corporate presence in the City, hiring Edward Craft from Nabarro LLP. The team acted for AIM-listed company Elektron on a takeover and £3.4m raising.

Wiggin LLP plays to its strengths in the media world, with an impressive breadth of clients including Endemol, Optomen Television, and Leopard Films. Michael Brader is the partner of note.

Never far from the largest European M&A deals, Cleary Gottlieb Steen & Hamilton LLP’s team in London advised the financial advisers to Cadbury on the unsolicited $19bn approach from Kraft, and London lawyers were also involved in the ultimately aborted $40bn bid by BHP Biliton for Potash Corp. Daniel Braverman, Sebastian Sperber and dual-qualified partner Tihir Sarkar make up the spine of the team.

Despite its relatively small size in the City, Cravath, Swaine & Moore LLP’s high-quality presence still looms large. Philip Boeckman is one of the ‘go-to’ US lawyers in London, and recently led a team that advised EQT Partners on the US law aspects of Liberty Global’s $4.5bn acquisition of Germany’s Kabel Baden-Wuerttemberg.

Davis Polk & Wardwell LLP’s global M&A brand has, if anything, been enhanced by the global financial crisis. The London team includes the highly rated Jeffrey O’Brien, Nigel Wilson and John Banes, and advised on a number of impressive global mandates including advising PepsiCo on its $3.8bn acquisition of a 66% stake in Wimm-Bill-Dann Foods.

Shearman & Sterling LLP’s Creighton Condon is a ‘truly exceptional’ practitioner, and George Karafotias ‘combines technical expertise with commercial common sense’. A large cross-border team was assembled and led from London to advise Ardagh Glass Group and its subsidiaries in its €1.7bn acquisition of Impress Coöperatieve.

Simpson Thacher & Bartlett LLP’s strength in advising the leading private equity houses in Europe remains unchallenged, with Greg Conway and Michael Wolfson very highly regarded by peers. The team acted on a raft of high-profile mandates, including advising JP Morgan Securities as financial adviser to Deutsche Borse in its combination with NYSE Euronext.

Skadden, Arps, Slate, Meagher & Flom (UK) LLP boasts one of the strongest US M&A teams in the City, with five partners including the renowned Scott Simpson. He and Michael Berkner advised Nokia Siemens Networks in its agreement with Motorola to acquire Motorola’s wireless network infrastructure assets for $1.2bn. Hunter Baker is also recommended.

Sullivan & Cromwell LLP advised longstanding client Goldman Sachs on Seawell’s $890m acquisition of Allis-Chalmers Energy, led by the highly rated William Plapinger. New office head Richard Morrissey and Stewart Robertson led a team that advised BP on its $7.1bn sale of its interest in Pan American Energy to Bridas Corporation.

Covington & Burling LLP’s strength in the life sciences, regulatory and technology areas has led to a string of high-profile mid-market deals, regularly acting for Merck & Co and HealthpointCapital among others. Peter Laveran-Stiebar is highly acclaimed by clients.

Debevoise & Plimpton LLP’s London team led on the merger of Russian potash companies Uralkali and Silvinit, in a $23.9bn deal. Office managing partner James Scoville led the team advising Uralkali. James Kiernan is also highly regarded.

Fried, Frank, Harris, Shriver & Jacobson (London) LLP has ‘many subject matter experts, and great depth of talent and experience’. Robert Mollen’s team advised Virgin Media on its £160m sale of Virgin Media Television to BSkyB, as well as handling a string of mandates for Goldman Sachs.

Kirkland & Ellis International LLP has become the ‘go-to’ for firm for Bain Capital in Europe in recent years, and the team leverages the firm’s extensive US network to bring a broad range of work to these shores from private equity houses and plcs. James Learner and Matthew Hurlock are the standout partners.

The ‘pragmatic’ team at Latham & Watkins LLP is praised for its in-depth industry knowledge. Areas of particular experience include deals into Scandinavia. Olof Clausson and Antti Ihamuotila are both recommended.

Linklaters LLP boasts the leading US M&A practice of the UK-centred firms, and in Tom Shropshire has one of the most highly rated lawyers in the City. The team advised on the largest Russian telecoms merger ever when it acted for Comstar on its $23bn combination with Mobile Telesystems.

Headed by David Lakhdhir and Mark Bergman, Paul, Weiss, Rifkind, Wharton & Garrison LLP’s small London team has acted on some of Europe’s most complex transactions. It recently advised Infineon Technologies on the sale of its Wireless Solutions business to Intel for $1.4bn.

Akin Gump Strauss Hauer & Feld is praised for its ‘commercial and flexible approach’, with Doug Glass and Dan Walsh both recommended. It has an ever-strengthening reputation for acting on some of the largest deals coming out of Russia, and acted for VimpelCom on its combination with Weather Investments.

Allen & Overy LLP has a solid team of US law advisers handling US M&A and securities advice. Daniel Epstein is recommended alongside Mark Wippell, who is dual qualified.

Ashurst LLP’s US capability took a knock in 2010 with the departure of Daniel Bushner and Marie Elena Angulo to Jones Day. The firm moved quickly to bring in the highly regarded Ray Fisher and Jennifer Schneck, both formerly at Linklaters LLP.

Dechert LLP’s team is headed by the extremely well-regarded Douglas Getter, and acts extensively for US buyers in the UK and European markets. Crown, CMC, Altima, Absolut, Diploma and EFG Bank are representative clients.

Dewey & LeBoeuf LLP’s real quality lies in its emerging markets work, with both Stephen Horvath and Brian Zimbler recommended. The team advised on a $1.2bn disposal for Mittal Investments.

Barry Glazer is the standout partner at Dorsey & Whitney, and recently advised Osteotech in the sale of its European subsidiaries, valued at over £100m.

Freshfields Bruckhaus Deringer LLP lost the highly regarded Presley Warner to Sullivan & Cromwell LLP. Head of the US corporate group in Europe Sarah Murphy is highly rated, and led a team advising on Qatar Holding’s €2.1bn investment into Iberdrola.

Herbert Smith LLP was boosted by the arrival of capital markets lawyer Stephen Thierbach from Linklaters LLP. Alex Bafi advised Rothschild as financial adviser and sponsor on Liberty International’s proposed £1bn demerger of Capital & Counties.

Hogan Lovells International LLP has enhanced cross-border expertise following its merger. Todd Schafer is the standout figure, having taken a role advising Onexim Sports and Entertainment Holding on its $200m acquisition of an 80% stake in the New Jersey Nets basketball franchise.

Mayer Brown International LLP has a dedicated five-lawyer US team, in which Paul de Bernier is the lead partner. It advised Scott Wilson Group on its £286m takeover by a subsidiary of Californian-based URS Corporation.

Norton Rose LLP has the ‘outstandingly efficient’ Tom Vita among its ranks. The US corporate finance team advised Bilcare on the €100m acquisition of the Films Division of INEOS plc. Mike Dunn is also recommended.

The team at White & Case LLP works closely with the firm’s expansive international network to advise the likes of HSBC, GMR Infrastructure and Saudi Aramco. David Eisenberg is the key partner, with dual qualified Andrew Weiler also noted.