Richard Bloomfield

A huge #thankyou to the team at Freshfields Bruckhaus Deringer, in particular Katherine D'Urso, John Babtie and Daisy Williamson for hosting myself and tml Partners yesterday for a discussion with a brilliant cohort of legal CMOs on the topic of #EDI across MBD. According to a recent survey, 70% of people still avoid a conversation about EDI for fear of getting something wrong, and what was particularly telling yesterday is that for all the positive momentum around bringing the EDI agenda to the table with great initiatives, so few of us have examples of where positive action is yet to lead to genuine change across legal MBD. At points, silence was arguably more telling and powerful that what was said. From talent attraction to retention, we have a long way to go, and that's where I'm very proud to partner with firms who are being bold in their actions to influence change where it's needed. As a #BCorp, we have a moral obligation to be a part of the solution. Not giving away any spoilers, we've done something quite unique in this space which I was thrilled to be able to talk through and share in 'beta' format yesterday. Underpinned by data, this is something we're going to be sharing with, and ultimately working exclusively with our customers and partners on to drive genuine positive change around equity, diversity and inclusion. To learn more, please do get in touch at [email protected].

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*Amlaw 100 released for 2024* - highlights from the AmLaw 100 stats that data nerds like me will find interesting: - The top 6 firms ranked by gross revenue remained the same as last year - those are (in order) Kirkland & Ellis; Latham & Watkins; DLA Piper; Baker McKenzie; Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates, ; and Sidley Austin LLP. - PEP increased on average by 9.3% across the AmLaw 100 as a whole. - Wachtell, Lipton, Rosen & Katz topped the PEP rankings with PEP of $8.5m. Kirkland & Ellis took second place at $7.9m. - In a nod to the robust litigation market last year Quinn Emanuel and Susman Godfrey LLP took third and fourth spots in the PEP rankings. - Firm non-equity partner ranks continued to grow - up 5.3% across the Amlaw100. This means almost half (49.4%) of all partners are non-equity partners. There is lots of excellent analysis by the entire American Lawyer team which is worth checking out. Follow me for more #biglaw market commentary, intel and roles.

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In an interview with 20Minds, Cleary partners Michael Preston and Gareth Kristensen discuss what makes the UK an attractive destination for global AI investment. See it here: https://ow.ly/lo9050TPA2h #AI #UK #MandA #artificialintelligence

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White & Case is proud to rank Tier 1 for Corporate Restructuring & Insolvency in the 2025 edition of The Legal 500 UK. Well done to all involved! Read more about the ranking here: https://ow.ly/eGJV50TMwRL #whitecase #Legal500 #rankings

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I found the Q&As covering the upcoming UK merger control reforms along with the one-page handout setting out key facts and figures particularly helpful #DMCCBill #DMCCAct #digitalmarkets #ukmergercontrol #competitionlaw #AddleshawGoddard

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Want to know the trends in UK Public M&A deals so far in 2024? My corporate colleagues Simon Allport and Nick O'Donnell have contributed to the LexisNexis UK Market Standards Trend Report, Trends in UK Public M&A in H1 2024, which examines the 29 firm offers, 32 possible offers and 8 announcements of formal sale processes and/or strategic reviews. To access the full analysis, please click here (sign-up wall): https://2bird.ly/3SvYXZO hashtag #LexisNexis #LexisNexisUK #PublicMandA #Corporate #Acquisitions #UK #law

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The first half of 2024 has been the busiest for lateral partner hiring at top London law firms in five years, with 100 moves according to Macrae's 2024 H1 law firm partner report. Notable trends include a 300% surge in white collar sector hires and a 58% increase in finance sector moves. For more insights, read Habiba Cullen-Jafar's article on Law.com International: https://lnkd.in/e9t7cXet

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Many lawyers wonder what their role is in this Generative AI wave. How much do they need to upskill to put Generative AI to good use? 📚 In this snippet from our recent bonus podcast episode with Brian Kennedy of law firm BCLP, we discussed that it's not so much about becoming tech wizards, but instead understanding how the tech works. Lawyers will benefit from familiarising themselves with tech concepts in AI, Machine Learning and Data Science. 📊 So you can rest easy. No need to learn how to code 😅 Want a more in-depth look into lawyers’ role in this new era of Generative AI? Listen to the full podcast here: 🎧👉 YouTube: https://lnkd.in/gKC98mBc  Spotify: https://lnkd.in/gXH-tftZ  Apple Music: https://lnkd.in/gJ6qgihb

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This article outlines everything you need to consider when setting up a private company in the UK. ➡️https://okt.to/bT7CtL

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Britvic plc Backs Sweetened £3.3B Carlsberg Group Takeover Offer Britvic plc said Monday that it is backing an improved £3.3 billion ($4.2 billion) cash takeover offer from Danish brewer Carlsberg Group AS that would create a British beer and soft drinks giant. Carlsberg Group is offering 1,315 pence per share in Britvic plc under the terms of the deal, which values the share capital in the maker of the Robinsons, Tango and Rockstar Energy drinks brands at £3.3 billion. The offer price includes a 25 pence special dividend. Baker McKenzie is advising Carlsberg Group, led by London corporate partner Nick Bryans. Linklaters LLP is acting as legal adviser to Britvic plc. Shares in Britvic plc, a member of London's FTSE 250 index, were up 4.63% on Monday morning at 1,266 pence, compared with 1,210 pence at Friday's market close. To learn more about LexisNexis' MLex, Law360 UK and Caselex and our proprietary merger and acquisition content, please reach out for an initial consultation. Phone: +44 7552 882 850 Email: [email protected] #MergerandAcquisition #MandA #TransactionsUK

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Private Practice specialists ⬇️ A Legal market powerhouse brand to bring to my network. I am now partnered with a brand who both, work with some of the worlds best Law firms and also employ some of the most successful and experienced Legal recruiters in London. Why I think they're fantastic: ► PPH across the business was over £300k last year. The L&D, Leadership support, reputation in the market along side an extensive client and candidate network means even in a market lul the team still performed fantastically. ► They have long standing relationships with the most reputable (Magic, Silver, White Shoe etc) firms. Almost all of their work is at the elite end of the market. ► A diverse team, they have leaders from all walks of life and promote based on merit rather than background. ► The vast majority of the business leaders are home grown. The pathways into leadership are not only clear but have been walked numerous times before so the support and guidance to your financial freedom will be extensive I work with a number of incredible brands but this business would stand alone in relation to wider success of the brand. They have elevated 100s of careers and by extension 100s of lives. There aren't many better places to learn the trade and have access to the most exciting people in the Legal world. The ideal profile hasn't been pitched to me as a numbers or experience piece but more so character fit. They want people that are hungry to learn and provide over everything else the best quality service in the market. And for those interested they pay market leading rates on both base salaries and comms. For anyone that really wants, what could be the best stepping stone to success in the market right now ⬇️ 📞 07964 033 137 📧 [email protected]

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What Alternative Legal Services Providers do we know❓ You probably use Alternative Legal Services Providers as part of your role, or at least are aware of them. Anyone missing on this list? — Axiom  — Elevate — LOD (Lawyers On Demand) — Pinsent Masons Vario — Lexoo — UnitedLex — Factor — Keystone Law — The Legal Director — Obelisk Support — Peerpoint by Allen & Overy — Konexo by Eversheds Sutherland For context, I have a coaching call tomorrow with a lawyer who wants to live in Spain part of the year and work as a remote contractor. We will work on his CV, LinkedIn and route to remote jobs, and I am also preparing a list of ALSPs where he can find assignments. If you know a firm that is missing, please could you let me know either in a comment below or via a DM? Many thanks in advance! 😊 ----------- If you're new to my network 🔔 — I am a specialist recruiter for In-House Legal roles in Tech companies covering the UK, Europe, Middle East and North America with 16,500+ network of lawyers working for tech companies — My agency Found Legal is a preferred supplier to EMEA in-house legal teams of Tech companies, both small and large, including Fortune 100 Tech multinationals — If you are looking to hire an in-house lawyer please feel free to email me [email protected] message me here on LinkedIn — I also send out a weekly newsletter with GC-level jobs coming to market at general-counsel-jobs.com — feel free to subscribe and stay in touch.

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Merger Alert: Womble and Lewis Roca will be merging to form a 1,300 lawyer firm with 37 offices in the US and UK. Effective, Jan 1st, it will operate under the Womble Bond Dickinson name. If you'd like to make a lateral move or just chat about how the market looks, reach out by DM and we can set up a time. I've placed 21 Associates and Counsel Candidates in the last year. #legal #recruiter #biglaw #lawjobs #lawfirmjobs #lawfirm #legalrecruiting #lawyers #amlaw #amlaw100 #amlaw200 #attorney #lawyer #biglawjobs #legaljobs #careeropportunities #interview #offer #aardvarklegalsearch

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Two former Associates at Freshfields Bruckhaus Deringer raised £5.9m for the legal tech business Definely. Feargus MacDaeid and Nnamdi Emelifeonwu were backed by Octopus Ventures after starting the business in 2020. LegalTech, as it’s called, is a large and rapidly growing market. In 2022, the market was estimated at $28 billion. AI is a big part of driving growth when I’m talking to my clients. I’m seeing how AI and tech are changing how firms operate. How are you embracing AI? https://lnkd.in/dzUa86rG

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On train to the ScaleUp Britain event (part of Glasgow Tech Week) I’ve been thinking about some of the legal issues that would-be #tech scaleups need to have on their radar. Too many to cover in a single post, but here goes: 💡 Founder / Shareholder Arrangements – as a company grows, basic founder agreements and articles of association are unlikely to be optimal. Should you cover off anything bespoke in a shareholders’ agreement (private doc) and/or bespoke articles (publicly available)?  💡 Employees / Consultants / NXDs – do you have adequate written agreements in place? Those informal start-up arrangements are unlikely to cut it… 💡 Employee Incentives – could a tax efficient EMI share option scheme help incentivise staff? They can produce nice results - we’ve seen examples of employees exiting at over 10x their exercise price. 💡 IP - various things to consider, and a critical one is that if you’re engaging consultants, you need to clearly cover off the IP position. Default position is that your consultant will own the IP they create - we’ve seen a failure to address this early on prejudice a funding round… 💡 Trade Marks – have you registered your brand as a trade marks? Registration is on a territorial basis and so there’s often a balance to be struck between priorities v costs. 💡 Data Privacy and Cybersecurity – increasingly lots to think about, from undertaking a DPIA at the outset of a key project, to preparing privacy policies and DPAs. Only the other day, the ICO warned that SMEs need to do more on cyber (link in comments). 💡 AI – do you have a workplace use policy / procedures in place? Investors, buyers and commercial partners are increasingly looking for warranties / indemnities in this area. Platforms such as Steam require video games developers to provide certain disclosures etc in order to distribute with them. 💡 Online Safety / Safeguarding Children – developing area with new legislation in the UK and the EU – think ‘safety by design’ from the outset. 💡 NDAs – while generally prudent to put these in place at the outset of discussions with potential partners, try not to overcomplicate them, and watch out for the other party introducing things that go beyond confidentiality – sometimes an NDA purporting to have the protection of your info as its primary purpose can contain legal traps… 💡 Commercial Contracts / Terms of Supply – whether relating to licensing, SaaS, outsourcing, collaboration, joint ventures, agency / distribution etc. Such contracts will typically cover a number of the issues above (IP rights, data protection etc) and another key thing to focus on is the contract’s duration / renewal and termination procedures – something often inadequately addressed. Any prospective investor, buyer or commercial partner will be across these issues, and it’s never too early to start addressing them. Taking advice to determine key priorities v costs etc will be a sensible first step.

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It might surprise some but there are a number of law firms now paying partners $20m or more. The highest comp band that I have come across for a partner is $25m, but there will be some that are higher. The number of partners at US firms earning $7-$12m has swelled over the last 5 years. The questions is are they worth it? Outside of Wachtell you have a number of elite firms who charge anything from $1600-$2800 often elite firms recover at 100% or close to that. So the contribution a single partner can make has a ceiling. What they leverage is a significant client or client base. Individuals are still pivotal in relationships, a single partner can make a significant difference, in fact their departure can be terminal. Paul Weiss Chair Brad Karp recently talked about retention and how they retain their best, they fight hard to hold their clients but all firm leaders know that there are partners who are a significant differential in a relationship. Now those partners can leverage that differential and if the output is consistent the earning potential is significant. Absent a structure that allows you to reward your key partners in line with their peers, they are far more susceptible to being picked off. #fidessearch #webringtherightpeopletogether #law #partnercompensation https://lnkd.in/eSzchp2j

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Major proposals for the UK's #capitalmarkets 🚀 - The FCA's proposed changes to the Prospectus Rules include increasing the prospectus threshold from 20% to 75% - a change that would significantly reduce the cost and timeframe for companies to raise money on the London Stock Exchange. I have long argued that the current 20% limit is a serious impediment to companies choosing to list or dual list on the LSE's Main Market. This proposed change, which is at the upper end of my expectations, together with the changes to the Listing Rules that come into force today, will make the London markets much more attractive for overseas companies. More detail can be found in the FCA's consultation paper CP 24/12, which contains full details of this and the other proposals -https://lnkd.in/etqHtBqN The consultation period runs until 18 October 2024, with the final rules expected to be confirmed by the end of H1 2025, and introduced thereafter. The Bird & Bird London Capital Markets team can advise on what the proposed changes mean for you. LSEG (London Stock Exchange Group) #capitalmarkets #londonstockexchange #ipo

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◼ What's in store for UK dealmakers? ◼ If you are keeping a keen eye on the UK M&A market, why not join us for Critcaleye's Growth Company Forum on 26 September 2024? We'll be talking about the outlook for the rest of the year and into 2025, covering: ▶ key issues for boards approaching a transaction; ▶ routes to exit; ▶ what sectors are hot; ▶ changes in store for PE; ▶ and much more! Criticaleye is an excellent peer-to-peer community for board members to connect with their peers across their industry and further. Huge thanks to Jacob Ambrose Willson and Sinead Lack for hosting this event! If you can't make the session, look out for the follow-up articles and feel free to DM me if you'd like to discuss anything M&A related. Link in the comments to find out more about Criticaleye.

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