Law firm mergers have not delivered says report
Recent mergers of law firms have not delivered on their aims for either the firms or their clients. Analysis of deals by consultancy firm Gulland Padfield looked at the stated aims of the mergers and compared them with the outcomes.
The firm found that greater value would be derived from mergers if robust planning was implemented to confront ‘difficult issues’ during negotiations. For a successful merger the report says, firms should also have an established business strategy ahead of talks and a willingness to put ‘value to clients’ foremost in the post-merger integration phase.
Among the top reasons a merger is not successful according to Gulland Padfield’s research: no plan to deliver client value post-merger; operational integration issues; no compelling shared-vision; clash of cultures between firms.
International firms boost Asia-Pacific capabilities
Three international firms have announced additions to their Asia-Pacific capabilities with new partners in Singapore and Hong Kong.
Simmons & Simmons has expanded its financial markets team in Singapore with Matthew Cox joining from Dentons, where he was managing partner in the Singapore office.
Ashurst has hired Jon Ornolfsson for its global oil and gas industry team in the city state. He joins the firm from Herbert Smith Freehills having worked in their offices in Singapore, Tokyo and Dubai.
Meanwhile, in Hong Kong, offshore specialists Harneys has added Lilla Zuill to its team. She joins on secondment from the firm’s Bermuda office. The firm is seeking to strengthen links between the two offices and Zuill will be based in Hong Kong for the next year.
Tech advisory team gets a boost at Corrs
Corrs Chambers Westgarth has appointed Jonathan Lawe Davies as special counsel in its Perth office. His particular expertise is in commercial transaction and advisory work for start-up technology and leading IT/IP businesses. He joins having worked in his own commercial IP and IT practice and began his career at Freehills.