Clifford Chance reports profits boost, management changes for Travers Smith

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Profits boost at Clifford Chance... Travers Smith makes changes in senior management... new partner for HSF after long period in public service... innovation award for Hogan Lovells... and Minter Ellison appoints 8 new partners...

Profits rise at CC
Clifford Chance has seen a 14 per cent rise in partnership profits to £459m (US$787m) and a 16 per cent increase in profits per equity partner in 2013/14. The figures follow a drop in profits in the previous year and is attributed to business growth throughout the firm’s key markets, including the US, Europe and Asia-Pacific. CC expanded its operations this year to include Saudi Arabia and Indonesia.
Management changes at Travers Smith
The latest phase in what has been a year of change for Travers Smith sees some long established names stepping down. Paul Dolman will head up private equity, replacing Phil Sanderson, while financial services will see Jane Tuckley taking over from Margaret Chamberlain. The new head of real estate (succeeding Julian Bass) is Anthony Judge and there’s a new role for Matt Ayre, who will replace Jeremy Walsh in banking and corporate recovery. The changes follow a change in senior partner last year and the recent announcement that there will be a new managing partner in 2016.
Herbert Smith Freehills appoints new partner in NYC
Herbert Smith Freehills has appointed John J. O'Donnell as a partner in its New York office. O’Donnell is a former Assistant U.S. Attorney in the city and former branch chief of the Division of Enforcement at the Securities and Exchange Commission (SEC). His role will be focused on white collar criminal defence, regulatory enforcement proceedings, internal investigations, securities litigation and complex commercial litigation. O’Donnell has spent much of the last two decades in public service, but was previously with Morgan Lewis & Bockius. His appointment further strengthens a team spread across the firm’s global offices, which is particularly valuable for multinational businesses that may be facing regulatory issues across multiple jurisdictions.
Hogan Lovells wins innovation award
Hogan Lovells has won the European Pensions Innovation Award at the 2014 European Pensions Awards for its work on the Kodak Pension Plan. The firm worked on settlements for the pension fund, which was the main creditor in the bankruptcy filing of Kodak’s US parent company Eastman Kodak Company. Hogan Lovells' innovative approach to restructuring the pension plan for 15,000 beneficiaries and the multi-jurisdictional nature of the contracts impressed the awards committee, especially as its work on the deal has allowed Eastman Kodak to emerge from their Chapter 11 filing with the expectation that it, and it’s UK subsidiary, will be able to return to profitable business.
UK regulator seeks general counsel
The Solicitors Regulation Authority is looking to appoint its first general counsel. The organisation’s role is to regulate solicitors and its firms to ensure the highest standards of professional conduct. The new role will be to advise the board and management of the authority, providing interpretation of legislation and driving change within the organisation. The SRA’s ideal candidate will be a solicitor or barrister with a proven track record of litigation and strong leadership qualities. The recruitment process is being handled by Saxon Bamfylde.
New partners at Minter Ellison
Minter Ellison has announced eight new partners, five special counsel and 25 senior associates. The new appointments spread across Minter’s Australian offices will further build upon the firm’s “strong commitment to delivering exceptional client service and value” said chief executive Tony Harrington

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