Latest news with #HerbertSmithFreehills
AU Financial Review
2 days ago
- Business
- AU Financial Review
Freehills' M&A rainmaker lands at Ashurst in law firm shake-up
Tony Damian says he hopes a personal following among clients will translate into new business for Ashurst, the top-tier firm that lured the mergers and acquisitions rainmaker from its rival last year. While The Australian Financial Review 's Street Talk column reported the move in December, Ashurst announced the appointment of Damian to staff on Wednesday. The recruitment of a high-powered partner from Herbert Smith Freehills was a major coup for Ashurst and part of a plan to build the firm's high-end corporate capabilities and jettison less profitable work.
Reuters
4 days ago
- Business
- Reuters
Herbert Smith Freehills and Kramer Levin launch latest transatlantic merger
June 2 (Reuters) - Herbert Smith Freehills and Kramer Levin have finalized the latest major legal industry merger of recent years, combining to form a 2,700-lawyer firm with over $2 billion in revenue. The merger took effect on Sunday following a partnership vote in April, creating what they have described as a top 20 firm globally under the name Herbert Smith Freehills Kramer. The combination of New York-founded Kramer Levin and Herbert Smith Freehills, a larger firm with UK and Australian roots, continues a move toward consolidation in the industry as law firms seek scale to compete across major markets and practice areas. Justin D'Agostino, global CEO of the combined firm, said in an interview on Monday that HSF Kramer wants to expand its U.S. work in practice areas such as private equity and litigation, arbitration and white-collar crime. "We're coming in with a very clear investment plan, a very clear growth plan for the United States and internationally," said D'Agostino, a longtime Herbert Smith Freehills lawyer who splits time between London and Hong Kong. The firm is also eyeing a possible expansion into Texas to support its energy sector work, he said. In a similar transaction last year, London-founded Allen & Overy combined with New York's Shearman & Sterling to create A&O Shearman, with nearly 4,000 lawyers. New York firm Schulte, Roth & Zabel is currently in deal talks with larger Chicago-founded firm McDermott, Will & Emery. The firms said in early May that they are "actively finalizing" a merger that is expected to become official in the coming months. The consolidation is driven partly by the idea that greater size and profitability gives firms a competitive advantage in attracting and retaining lawyers from a limited talent pool, said law firm consultant Kent Zimmermann of Zeughauser Group. The departure of one or two key partners at a smaller and less profitable firm "can shake the confidence of the rest of the partnership more easily than when there's regrettable departures in firms with a much deeper bench of quality,' he said. Law firm merger activity stayed relatively steady for the first quarter of 2025, with 22 completed deals compared to 21 during that period in 2024, according to consultancy Fairfax Associates. Lisa Smith of Fairfax said there has been an uptick in cross-border mergers compared to a decade ago. There are 'more conversations and more serious conversations' about such deals, she said. Still, consultants said there remains only a small pool of UK-U.S. tie-ups that may ultimately make sense for some firms due to factors like gaps in profitability, cultural differences and client conflicts. There have been several transatlantic deals in recent years, some of which have been more successful than others, said Tony Williams of UK legal management consultancy Jomati Consultants. Other London-founded firms like Freshfields, Clifford Chance and Linklaters have instead grown significantly in the United States by hiring from competitors in major U.S. cities. Consultants said some of the firms that have grown through hires may be watching for the right opportunity. "There's been no secret that a range of UK firms would be interested in an appropriate merger with a U.S. firm," Williams said.
Associated Press
4 days ago
- Business
- Associated Press
Herbert Smith Freehills Kramer Officially Launches
NEW YORK--(BUSINESS WIRE)--Jun 2, 2025-- Herbert Smith Freehills Kramer is delighted to announce the successful completion of the combination between Herbert Smith Freehills and Kramer Levin on June 1, 2025. This transformative combination creates an integrated global legal powerhouse of some 2,700 lawyers, including around 630 partners, across 26 offices. With over US$2 billion in revenues, positioning it among the world's top law firms, HSF Kramer has established a robust global platform for future investment and expansion. Rebecca Maslen-Stannage, Chair and Senior Partner of Herbert Smith Freehills Kramer, commented: 'Today we embark on an exciting new chapter. Herbert Smith Freehills Kramer unites two firms with complementary strengths, shared values, and a bold vision for the future. We are delighted by the overwhelmingly positive feedback from our clients and our people. Together, we will focus on our strategic vision and build on this fantastic platform.' HSF Kramer's extensive footprint and global reach offer immediate synergies in areas such as private equity, bankruptcy, disputes, real estate, and securitization, providing clients with unparalleled support on complex transactions and high-stakes disputes. Justin D'Agostino, Global CEO of Herbert Smith Freehills Kramer, commented: 'In today's fast-evolving and uncertain macroeconomic landscape, clients need a truly global law firm with deep local insight across all their key markets. Herbert Smith Freehills Kramer is uniquely positioned to deliver exceptional outcomes in an increasingly complex and interconnected world.' The firm will have a strong focus on growth and investments, particularly in all these key practice areas as well as a broader transactional offering, on enhancing its New York presence, and on building its regulatory and technology practices centered around its Washington DC and Silicon Valley offices. Paul Schoeman and Howard Spilko, Co-Managing Partners of Kramer Levin prior to the combination commented: 'We look forward to the strategic investments we will be making as a result of the combination to grow our destination practices in the U.S. and enhance the service we provide to clients here and throughout the world.' Paul Schoeman will serve as the Executive Partner of the U.S. region, and Howard Spilko will serve as Global Head of Private Equity and Chair of Corporate, US, as well as serve on the Global Council for HSF Kramer. Justin D'Agostino leads the firm's Global Executive and is joined by Executive Partners Kristin Stammer (Asia & Australia), Jeremy Walden (UK & EMEA), Paul Schoeman (US), Alison Brown (US Growth & Strategic Integration) and Anna Sutherland (Practices). About Herbert Smith Freehills Kramer Herbert Smith Freehills Kramer (HSF Kramer) was formed in June 2025 through the transformational combination of Herbert Smith Freehills and Kramer Levin, creating a world-leading global law firm. With over 6,000 people including c.2,700 lawyers and spanning 26 offices, HSF Kramer provides comprehensive legal services across every major region of the world. Uniquely positioned to help clients achieve ambitious objectives, HSF Kramer delivers exceptional results in complex transactions and high-stakes disputes. For more information visit LinkedIn: View source version on CONTACT: Media contact:Jennifer Manton Tel: +1 212 715 7612 Email:[email protected] Pochna Tel: +1 212 843 8007 Email:[email protected] KEYWORD: NEW YORK UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: CONSULTING PROFESSIONAL SERVICES LEGAL SOURCE: Herbert Smith Freehills Kramer Copyright Business Wire 2025. PUB: 06/02/2025 10:46 AM/DISC: 06/02/2025 10:45 AM
Yahoo
12-05-2025
- Business
- Yahoo
London Bankers Scour Market for IPO Reboot After Shein Stalls
(Bloomberg) -- London bankers and investors are pinning their hopes on a handful of candidates to get initial public offering activity off the ground after the much-anticipated listing of Shein hit a pause. A New Central Park Amenity, Tailored to Its East Harlem Neighbors As Trump Reshapes Housing Policy, Renters Face Rollback of Rights Is Trump's Plan to Reopen the Notorious Alcatraz Prison Realistic? What's Behind the Rise in Serious Injuries on New York City's Streets? NYC Warns of 17% Drop in Foreign Tourists Due to Trump Policies A blockbuster IPO by Shein, planned for this year and at one point eyeing a valuation of as much as £50 billion ($67 billion), was often touted as the catalyst that London needed to reignite IPO activity. Instead, the Chinese-founded fashion retailer got caught up in the US tariff war. Progress on the deal has slowed to a crawl as Shein assesses the impact of the trade restrictions on its business, Bloomberg News has reported. UK equity capital markets have endured a torrid stretch, with a dearth of IPOs in recent years exacerbated by a number of high-profile listings moving overseas. Fundraising from London IPOs fell below $1 billion in 2024 — only the second time since the financial crisis that volume dipped so low, data compiled by Bloomberg show. 'At the start of the year, there was real optimism for a cyclical rebound in IPOs,' said Mike Jacobs, a partner specializing in capital markets at law firm Herbert Smith Freehills. 'But macro and market volatility — particularly sectors exposed to tariffs — has reasserted itself with a vengeance.' Still, a list of deals penciled in for the coming quarters may offer a measure of spark that the market has been waiting for. And while the chilling effects of the ongoing tariff war continue to weigh on IPOs in Europe and the US, bankers say a number of firms are looking to go public as soon as calm returns. 'Most IPO timetables have now shifted,' said Brian Hanratty, head of ECM at British investment bank Peel Hunt Ltd. 'There are three to five notable London IPOs lined up for the coming quarters.' One company that is considering braving the volatility is iFOREX Financial Trading Holdings Ltd. The trading platform with $50 million in revenues announced plans for a potential listing on the London Stock Exchange on Friday. Other companies that are considering a London listing this year include payments firm Ebury, backed by Banco Santander SA, as well as private equity-owned consumer credit provider NewDay and Greece's Metlen Energy & Metals SA, Bloomberg has reported. Uzbek gold miner Navoi Mining & Metallurgical Co. has also been stepping up preparations for an eventual stock market debut, while Hong Kong-based EcoCeres Inc. has been considering London as a potential venue for a listing next year, people familiar have said. To be sure, private equity owners could consider alternatives to offload holdings. For instance, NewDay's owners CVC Capital Partners Plc and Cinven have been fielding interest from potential buyers for the whole or part of the business, Bloomberg reported last month. Investors are also still nursing heavy losses from the last wave of UK listings, underscored by Deliveroo Plc announcing a buyout by DoorDash Inc. this week for less than half the £7.6 billion valuation the London-based food delivery platform reached in its IPO about four years ago. 'The poor 2021 IPO vintage is undoubtedly still fresh in investors minds,' said Jamie Constable, market strategist at London-based Singer Capital Markets. However, 'we do not see this as driving an investors' 'buying strike.' Investors are keen for new blood.' To encourage more offerings, UK authorities are implementing the biggest revamp to listing rules in decades, with measures to relax voting rules and share structures already in place. They're also exploring ways to unlock investment from retirement savings, for example by consolidating government pension funds. Even so, more can be done to facilitate access to capital, including bolstering retail investment as well as government support for emerging companies, according to Caroline Escott, senior investment manager at pension fund Railpen, which oversees more than £34 billion in savings. Scrapping stamp-duty on shares and supporting the London Stock Exchange's junior bourse for early-stage companies, AIM, are also key to revitalize the market, said Jason Paltrowitz, a director at trading platform OTC Markets. 'London therefore needs to double down on supporting AIM to build the venture-stage companies of tomorrow, rather than focusing on attracting perceived 'headliners' to its markets,' he said. US Border Towns Are Being Ravaged by Canada's Furious Boycott How the Lizard King Built a Reptile Empire Selling $50,000 Geckos Maybe AI Slop Is Killing the Internet, After All With the New York Liberty, Clara Wu Tsai Aims for the First $1 Billion Women's Sports Franchise Pre-Tariff Car Buying Frenzy Leaves Americans With a Big Debt Problem ©2025 Bloomberg L.P.
Hindustan Times
12-05-2025
- Politics
- Hindustan Times
Politicians and diplomats come out in support of Foreign Secy Misri after online attacks
Politicians and former diplomats came out in support of Foreign Secretary Vikram Misri after the veteran Foreign Service officer faced significant trolling on X, a social media website. Misri - who has served as Foreign Secretary since 2024 - was attacked online after delivering a statement on late Saturday night on Pakistani violations of the newly agreed ceasefire deal. In his statement, Misri outlined that Pakistan had violated the agreement just hours after it came into effect on Saturday and stated that the armed forces were responding to the violations. Misri also added that India would respond firmly in the event of further violations. However, India did not back out of the ceasefire deal. Following this, Misri faced significant criticism with several X users attacking the Foreign Secretary for not taking a harder line on Pakistani ceasefire violations. Misri's daughter Didon Misri - who is based in London and works at global law firm Herbert Smith Freehills - was also criticised online for providing legal support to Rohingya refugees. However, according to her professional profile, Didon Misri works in the field of investment treaty and international commercial arbitration. Misri has also advised the Indian government on a number of international arbitration matters. According to persons aware of the matter, Didon Misri briefly interned with the UN High Commission for Refugees in Myanmar during her years at law school in India. Her duties involved providing research support to the UNHCR, which dealt with a number of international humanitarian issues at the time - including the subject of Rohingya refugees. Following this social media firestorm, Misri locked his X account which has been active since before he became Foreign Secretary. AIMIM chief Asaduddin Owaisi came out strongly in support of Misri after this incident. 'Mr Vikram Misri is a decent and an Honest Hard working Diplomat working tirelessly for our nation. Our civil servants work under the executive. This must be remembered and they shouldn't be blamed for the decisions taken by The Executive/or any Political leadership running Watan E Aziz,' Owaisi posted on X. Former Foreign Secretary Nirupama Menon Rao also took to social media to defend Misri. 'It's utterly shameful to troll Foreign Secretary Vikram Misri and his family over the India-Pakistan ceasefire announcement. A dedicated diplomat, Misri has served India with professionalism and resolve, and there is no ground whatsoever for his vilification . Doxxing his daughter and abusing his loved ones crosses every line of decency. This toxic hate must stop—stand united behind our diplomats, not tear them down,' Rao wrote on X. Misri joined the Foreign Service in 1989 and has served as India's Ambassador to China and as Deputy National Security Adviser.
