A&O and Shearman Merger, Strategy, Scale, and the Risk of Being Right Too Early
When Allen & Overy and Shearman & Sterling announced their merger on 21st May 2023, most headlines focused on scale, “global reach, $3.4bn combined revenue,” “nearly 4,000 lawyers.” The reality was subtler and more strategic. This wasn’t a size play; it was a survival strategy. Both firms had enviable histories, blue-chip client lists, and undeniable […]
A&O and Shearman, When Logic Finally Outruns Legacy
The Allen & Overy and Shearman & Sterling merger marks the first credible transatlantic combination of equals. I look at why it happened, how the pieces fit, and what it means for partners, clients, and the market. The rumours have finally become reality: Allen & Overy and Shearman & Sterling have agreed to merge. It’s […]
Saudi Opens the Door. The New Race for Legal Relevance
Saudi Arabia’s new licensing regime has transformed the legal landscape overnight. I look at why international firms are rushing in, what “local presence” really means, and how the firms that future-proof their Riyadh offices will win the decade. For years, Saudi Arabia has been the market everyone wanted to serve, but few could properly access. […]
Sanctions, Energy Shock, and Private Credit, The New Axes of Legal Demand
2022 has turned the legal market on its head. Sanctions, energy volatility, and the rise of private credit are redrawing fee pools and partner priorities. I explore how firms are repositioning and what this shift means for talent and strategy. If 2021 was the year of liquidity, 2022 is the year of control. Regulators, governments, […]
SPAC Fever, ECM Reality
SPACs have turned from a Wall Street experiment into a global talking point, and every firm wants a slice. I look at what’s really driving the boom, how the UK and US markets differ, and which law firms are positioning themselves for the inevitable reality check. Every few years the market invents a new acronym […]
Latham’s London Inflection Point, When Scale Starts to Look Strategic
Latham & Watkins has turned scale into strategy in London. The firm’s rapid private-equity and finance growth isn’t just size for show — it’s a signal that the US model is now the City’s benchmark. It’s no secret that Latham & Watkins has been quietly reshaping London. For years, the firm’s growth here was impressive, […]
Goodwin’s Funds Surge in the City. How Focus Becomes Scale
Goodwin’s rise in London this year shows how focus beats scale. The firm’s commitment to private capital, funds, and sponsor relationships is paying off — and the City is starting to notice. If there’s one firm everyone in the City is quietly talking about this year, it’s Goodwin. While others chase size, Goodwin is chasing […]
Kirkland Hire David Higgins: The Moment London’s Private-Equity Market Changed
Kirkland & Ellis’s hire of David Higgins from Freshfields redefined the economics of private-equity law in London. I look back at how one move shifted market power, pricing, and what it means for the next generation of sponsor dealmakers. Every market has a moment that changes the rules. For London’s private-equity legal scene, it came […]