Two partners from Simmons & Simmons and five from Nordic Euro Elite firm Hannes Snellman will join the new offices, which bring the firm’s global footprint to 66 offices in 32 countries, in what Eversheds’ co-chief executive Lee Ranson (pictured) described as a ‘key element’ of the firm’s 2020 strategy.

The Luxembourg office, opening today (6 September), will initially focus on investment fund and corporate work, while the new Russian operations – which Legal Business understands will open in the next few weeks – will be full service, with a particular emphasis on M&A, real estate, litigation, corporate crime and investigations.

‘Luxembourg and Russia are both a natural fit for us in terms of our client base, practice strength and geography,’ said Ranson.

Partners José Ignacio Pascual Gutiérrez and Viviane de Moreau d’Andoy will join the Luxembourg office from Simmons, along with five associates.

Gutiérrez specialises in fund formation work, with a focus on alternative investment funds. De Moreau d’Andoy advises international clients on matters including the corporate and regulatory aspects of the structuring and distribution of funds.

In Russia, Eversheds has acquired Hannes Snellman’s entire operation, including a team of 22 lawyers led by Victoria Goldman.

Hannes Snellman senior partner Johan Aalto said it was time for the firm to ‘hand over the reins to Eversheds Sutherland, a firm which is more than well equipped to further develop the solid practice at hand’. He added that the firm would recommend the outgoing team to clients and looked forward to ‘co-operating on joint assignments in the future as well’.

Goldman has more than 20 years of experience in M&A and real estate, nine of which was spent as Hannes Snellman’s managing partner in Russia after it entered the market in 2006 by acquiring ETL Law Offices. Partners Yury Pugach, Luke Wochensky, Anu Mattila and Mikhail Timonov will move with her, adding to Eversheds’ local litigation, corporate crime and investigation operations.

For Eversheds, this announcement follows the opening of a Düsseldorf office in August through the acquisition of Grooterhorst & Partners, giving the firm a fourth base in the country along with Munich, Berlin and Hamburg. Meanwhile in Asia, a combination with Harry Elias Partnership gave Eversheds a Singaporean office in February.

Ranson has cited international expansion as one of the main causes for a dip in legacy Eversheds’ profitability in 2016/17, with profit per equity partner falling by 2% to £726,000 against an 8% growth in revenue to £438.6m.

He told Legal Business earlier this summer: ‘Continued strategic investment in people, recruitment and, most notably, our US combination led to an anticipated slight dip in profitability. We are making sure we are investing for the future. The acquisition in Germany [of Heisse Kursawe in 2015], investment in new recruits, systems, technology and the US combination, all of that comes into play.’

This article first appeared on The Lex 100‘s sister publication, Legal Business.

Blanchett, who headed up Sedgwick’s financial institutions (FI) practice, focuses on commercial crime, fidelity, professional liability, directors’ and officers’ liability and media liability as well as other types of insurance. Novak specialises in insurance coverage disputes and Ferguson’s practice covers both domestic and international coverage matters.

Kennedys senior partner Nick Thomas said that the team hire was a substantive move for its institutional practice and would significantly raise Kennedy’s US profile. ‘In addition to complementing our US offering, the team will significantly strengthen our London market capabilities, which is crucial for international FI matters.’

Kennedys merged with CMK in May, adding 43 partners to its offering as well as five offices including New Jersey, New York, Pennsylvania, Illinois and Texas.

Its recent US investments cap off a frenetic period of international expansion for the top 50 UK insurance specialist. The London-based adviser has opened five offices in Latin America since the second half of 2016. In his time as senior partner, Thomas has overseen the firm’s growth into an international insurance player, with offices in locations including Sydney, Hong Kong and Miami.

Recently the firm has also opened offices in Russia and Denmark and formed associations in Norway, Sweden and Argentina. Closer to home, in March Kennedys hired a 24-strong casualty claims team from Hill Dickinson’s Sheffield branch, resulting in the closure of the latter’s operations in the region.

With insurance clients being among the most canny and thrifty on both sides of the Atlantic, London’s band of specialist law firms are increasingly moving to go global as a means of avoiding a race to the bottom of the value chain. With sector leader Clyde & Co already well into a highly-successful expansion programme in the US, the strategy appears to be paying off far more clearly than for larger City counterparts focused on transactional work.

This article first appeared on The Lex 100‘s sister publication, Legal Business.

The hours you will work will be confirmed by the graduate recruitment team and will be scheduled to fit with your academic timetable. You will need to be available from September-April during the university term.

What are we looking for:

• Enthusiastic, motivated individuals who have a keen interest in Marketing, Law or the sectors that we operate in.
• First, second and penultimate year law or non-law undergraduate students from a diverse range of degree disciplines.
• You must be enrolled at university and on-campus from September 2017.
• Entrepreneurial spirit – Innovative and creative ideas to further promote the Bird & Bird brand.

We are looking for Campus Ambassadors at the following universities:

• Warwick University
• Leicester University
• Durham University
• Nottingham University
• Exeter University

What can we offer you?

In return, you will be given excellent training, a broad network of Bird & Bird Campus Ambassadors from across the UK and the opportunity to gain a better understanding of a global law firm while showcasing your own creativity and talents. You will receive a discretionary payment for your work, plus excellent support and training.

The deadline for applications is Friday, 15 September 2017. Click here to apply.

The City giant is offering companies space in its London HQ which will work together with the firm’s lawyers, technologists and clients to create services and products for companies, financial institutions and law firms.

From 80 applications those chosen by the firm to take up places in the hub include legal AI specialist iManage – previously RAVN; digital legal services innovator Avokka; regulatory risk intelligence outfit Corlytics; legal technology innovator Legatics; legal management software company Opus 2 International; and AI company Vable. The first company to sign up for Fuse was fintech outfit Nivaura.

The Magic Circle firm has also taken on not-for-profit enterprise Ithaca, which aims to create a mobile online technology platform to assist asylum seekers gain access to pro bono legal advice.

The companies, which will move into A&O in September, are expected to spend four months using the facilities. After that time the firm will look to invite others to Fuse.

Fuse is the latest attempt by a prominent law firm to adapt the Palo Alto-style incubator model, with Mishcon de Reya and Dentons currently pursuing broadly similar ventures.

The tech companies were invited to pitch to Fuse’s selection committee, which included JP Morgan’s Oli Harris, Funding Circle legal counsel Robert Kerrigan, Amazon corporate counsel Alex Wong and Balderton Capital principal Sam Myers.

Fuse’s chairman, A&O partner Jonathan Brayne, said the selection process had been an ‘extremely interesting and rewarding experience’. He added: ‘We’re looking forward to welcoming the companies into the space next month, introducing people from A&O and our clients’ businesses to it and, ultimately, helping shape what emerges from the Fuse environment.’

The project is the latest in a string of innovations for A&O which last year teamed up with Deloitte for the first marquee joint venture between a Big Four accountant and a Magic Circle law firm. The firm eventually closed the doors to new clients following the launch of MarginMatrix, a tech-driven service to help banks handle regulation of the $500trn over-the-counter derivatives market.

While Fuse and its legal counterparts are billed as a means of bringing in new ideas and collaboration to the profession, the industry’s many luddites will be waiting to see if such ventures ultimately prove to be more vapid marketing exercise than brave new world.

This article first appeared on The Lex 100‘s sister publication, Legal Business.

US tax reform: Tough task for Trump says former Obama adviser – BBC

Hedge funds: Game of Thrones location spurs rise of business empire – The Guardian

BrewDog to give away 20% of profits each year – BBC

Theresa May refuses to rule out military action and cyber attacks over North Korea missile launches – The Telegraph

Uber pulls U-turn on controversial tracking of users after trip has ended – The Guardian

Marks & Spencer in talks to offload Hong Kong and Macau shops – The Telegraph

‘Self-driving’ lorries to be tested on UK roads – BBC

Tories may compel firms to disclose gap between pay of CEOs and workers – The Guardian

Provident Financial shares bounce back after management shake-up – The Telegraph

Samsung heir Lee Jae-yong jailed for corruption – BBC

The Guardian view on grocery wars: Lidl Britain – The Guardian

Spotify moves closer to listing as it strikes deal with Warner Music – The Telegraph

Is the fun being sucked out of Notting Hill Carnival? – BBC

Why should you consider this career?

Becoming a chartered secretary immerses you not only in law, but in business strategy and finance providing you a broad career rather than having to specialise. You will be an influencer in important organisational decision making.

What’s more, with your law degree you are eligible for exemptions from at least two modules from the Chartered Secretaries Qualifying Scheme (CSQS). By studying the specialist modules, we can help you meet the responsibilities of the role confidently while being part of a member network with access to global knowledge and support.

Find out how to fast track your career

‘I think particular when you are studying law or looking to graduate from law, you think you can only do some of the things within a legal department but I’ve managed to do it from all within a company secretarial remit…and it’s been brilliant.’ – Julian Baddeley (Aviva plc)

More resources for graduates

Visit our new Graduate Hub and peer inside the company secretarial teams of a FTSE organisations. Choose from one of our popular insight days, shadowing schemes, or sit in on an AGM (these are limited and available on a first come basis).

Save the date:

AGM Invitation

Company	Date	Seats left	Location
DS Smith	5 September 2017	2	London
Dixons Carphone	7 September 2017	2	London

Insight Days

Company	Date	Spaces	Location
Aviva	8 September 2017	20	London
Intertrust	12 September 2017	12	London
Royal Mail	28 September 2017	20	London
Nationwide	10 October 2017	20	London
Rolls Royce	17 October 2017	12	Derby
National Grid	20 November 2017	20	London

To register your place at any of the above, please contact us at [email protected] or call +44 20 7612 7021.

This proportion was slightly down on its 91% autumn retention rate last year. 53 offers were made to this year’s group, with 47 accepting positions. Last week Allen & Overy posted a retention rate of 85% while Freshfields Bruckhaus Deringer retained 66% of its cohort.

In addition, Gowling WLG, Macfarlanes, Ince & Co, Taylor Wessing and Stewarts Law have also revealed their trainee retention rates this week.

From a group of 25 trainees, Gowling WLG has retained 21 individuals, giving it retention rate of 84%. Twelve people have taken up newly qualified positions in the City and nine will join the firm’s Birmingham office. It’s an improvement on last autumn’s 78% trainee retention rate when the firm kept 18 of its 23 trainees.

Macfarlanes has retained 100% of its 25 trainees, with 23 individuals agreeing to permanent positions while two people accepted fixed term contracts. This year’s figures are an improvement on last autumn’s 90% retention figure. The firm’s head of graduate recruitment Seán Lavin said the firm tries ‘very hard to ensure that we can offer a role to each trainee on qualification in order to keep that talent within the firm’, taking on ‘the highest quality … with a view to offering them long-term careers with the firm’.

Ince & Co has mirrored its results from last year, posting a 90% retention rate from its group of 10. Two of its NQs will join take up places outside of the firm’s London headquarters with one joining its Monaco office and another in Dubai. Last autumn the firm retained 89% of its group of nine.

Taylor Wessing posted a lower trainee retention rate, keeping 62%. It’s a tumble on last year’s figures when the firm retained 77% of its group of 22. Sixteen NQs will remain at the firm with patents; IT, telecoms and competition; disputes and investigations; private client; private equity; private capital and corporate finance; and real estate, planning and environment practices each gaining two new associates apiece, while the construction and engineering and tax and incentives practices will both be receiving one NQs.

And despite another strong year financially, Stewarts Law has retained just one of its four trainees qualifying this autumn.

This article first appeared on The Lex 100‘s sister publication, Legal Business.

Trump set to order China trade investigation – BBC

Logistics firm John Menzies walks away from planned DX merger – The Telegraph

Controversial Garden Bridge project scrapped – The Times

UK inflation tipped to rise again with wages forecast to stagnate – The Guardian

Disruption is over – and Facebook won – BBC

Rise of electric car solves little if driven by fossil fuels, warns windfarm boss – The Guardian

Aldi to launch online delivery service in the US – The Telegraph

University must charge £9,000 fees ‘to make up for cuts’ – The Times

As a result of the separation, achieved through a regulated apportionment arrangement (RAA), Tata Steel will pay £550m to BSPS, which will also be given a 33% equity stake in the steel company. With the support of the Pensions Regulator and the Pension Protection Fund (PPF), a new BSPS will be created after an assessment period.

Slaughter and May advised long-standing client Tata Steel on the restructuring, with pensions and employment partners Charles Cameron and Phil Linnard, restructuring partner Ian Johnson, finance partner Andrew McClean and M&A partner Padraig Cronin comprising the team. PwC also represented Tata Steel.

The BSPS trustee has been a Travers Smith client for ten years, and the firm represented it on the restructuring with a team that included pensions partners Paul Stannard, Dan Naylor and Susie Daykin, finance partners Jeremy Walsh and Ed Smith, corporate partner Adrian West, tax partner Richard Stratton and derivatives partner Jonathan Gilmour.

The separation of the BSPS had been seen as a barrier to a potential merger of Tata Steel with Germany’s ThyssenKrupp, but the separation may now accelerate merger discussions.

In a statement, Tata Steel’s group executive director Koushik Chatterjee said: ‘Considering the continued challenges in the global steel industry as well as the uncertain global politico-economic environment, the RAA presents the best possible structural outcome for the members of the British Steel Pension Scheme and for the Tata Steel UK business.’

The PPF, which was represented by Hogan Lovells, said in a statement: ‘Members of the British Steel Pension Scheme will have seen a lot of speculation about the future of their pensions, so we want to reassure them the PPF is there to protect them throughout this process.’

Slaughter’s Cameron added: ‘This restructuring is unusual in a number of ways, and unprecedented in its scale. It is by far the largest pension scheme restructuring carried out in the UK.’

In April 2016, Forsters lined up opposite Slaughter and May on Tata Steel’s deal to sell its European long-products business to UK investment house Greybull Capital.

This article first appeared on The Lex 100‘s sister publication, Legal Business.