Australia helped strong growth for Herbert Smith Freehills

Herbert Smith Freehills has published its unaudited accounts for the year ended 30 April 2018, revealing growth of 0.7% in revenues (to GBP £926.8m) and an 8.2% rise in profit (to £277.2m) compared to the previous year.

The firm’s profit per equity partner was up 12.1% to £852,000.

CEO Mark Rigotti says the growth supports the firm’s Beyond 2020 strategy with continued focus on client relationships and service delivery.

“As part of this, our Alternative Legal Services practice continues to make huge strides: its revenue has jumped by 90% in the last five years. It now serves three-quarters of our global “Top 100” clients.”

The Asia Pacific region had some key highlights in the year with 10 new partners, investment in the Sydney office at Macquarie Park, and a new Kuala Lumpur office.

“The Australian region also achieved a significant double digit lift in profitability off the back of increased activity levels, and our Greater China practice continues to perform strongly on disputes and equity capital markets mandates,” added Mr Rigotti.

Globally, the firm’s disputes practice was noted for its growth especially in Asia with another year of increased profit.

New regulatory consulting business for global firm
Allen & Overy has launched a new regulatory consulting business, the first of its kind among global elite firms.

The Allen & Overy Strategy Group will focus initially on regulatory business advice which will be delivered as an integrated part of the regulatory legal services A&O already provides to its financial institution clients internationally.

Leading the new business unit is Sally Dewar who joins from JP Morgan in London where she is currently managing director, head of international regulatory affairs. She was previously with the UK’s former financial services regulator.

“We know that there is a gap in the market for advisors that have both in depth legal and technical insight but also the scope and scale to deliver tailored business outcomes. This is where the Allen & Overy Strategy Group offers something special to the market,” Richard Cranfield, Allen & Overy partner and co-head of the Financial Institutions Group.

HFW hires Fieldfisher office founder in Brussels
HFW has hired Emmanuel Roger France as a partner in its Brussels office, just days other hiring another senior partner from a rival.

Roger France joins from Fieldfisher where he was a founding partner of the firm’s office in the European capital and headed its local dispute resolution practice.

The firm recently appointed Trowers & Hamlins' international dispute resolution head James Harbridge had joined its fast-growing Dubai office.