SOME OF THE LATEST DEVELOPMENTS IN THE INTERNATIONAL LEGAL MARKET
There’s continuing expansion of UK and US firms in Saudi Arabia, and of European firms in Italy and Brussels
Clyde & Co recruited the entire Corporate team of 13 lawyers from PwC Legal in Dubai to expand its corporate offer in the Middle East, consolidating its position as one of the largest international firms in the region.
Elsewhere in the region, Kirkland & Ellis hired 3 partners in Riyadh, 1 from Latham & Watkins and 2 from White & Case, to open its first office in the region. The practice will focus on energy and infrastructure, responding to the foreign direct investment opportunities in Saudi Arabia.
On European shores, Legance has hired an 18-strong tax team from BonelliErede, including 3 partners, doubling the size of its tax team and strengthening a broad range of its tax capabilities. BonelliErede is left with 5 partners in tax.
August Debouzy, the leading French firm, has opened its first office outside France in Brussels, hiring a lawyer from Freshfields in combination with moving two of its own lawyers from Paris to launch the practice. The office will focus on a broad range of EU regulatory and strategic advisory opportunities.
Toronto remains an active market, and we see the continuing risks from data breaches and the impact of AI
Loopstra Nixon is merging with Macdonald Sager to create a 103-lawyer firm in Toronto. This is the largest law firm merger in Toronto in a decade, with a focus on commercial lending, mid-market corporate and related practices. This is the latest in a recent spate of Canadian domestic mergers. The merged firm will trade as Loopstra Nixon.
Meanwhile, in Illinois, Bryan Cave Leighton Paisner is being sued in a class action lawsuit as a result of a data breach resulting from the hacking of personal data held by the firm on over 50,000 employees of one of its clients. The complaint alleges BCLP took 3 months to report the breach and this left the employees vulnerable to identity theft.
A number of firms in Africa are having some success with technology adoption in areas such as AI, machine learning, document automation and collaboration portals, despite cost constraints and slower uptake in some jurisdictions. Bowmans reports a 50% reduction in lawyers’ time in document review, 25% in transaction management and about 45% in litigation. Cliff Dekker Hofmeyr echoed similar outcomes.
