The firm`s merger with Australasian giant Freehills in 2012 is still widely regarded as one of the most successful in recent corporate law and has managed to grow in size without disrupting any of the most pleasing cultures in the legal market. The recent appointment of the firm`s first female senior partner, Sydney-based M&A lawyer Rebecca Maslen-Stannage, underscores the firm`s comprehensive connection to Freehills and its commitment to change. HSF, which has a “strong focus on sustainability,” recently committed to achieving net-zero carbon emissions by 2030 and was ranked among the top LGBT employers by Stonewall, along with several other companies in the city. Among the key mandates that have driven HSF`s growth over the past year, the firm represented the Financial Conduct Authority (FCA) in the high-profile COVID-19 business interruption insurance case and also won a lucrative seat on Sainsbury`s new Legal Advisory Board. D`Agostino, however, downplayed any opportunism: “There is intense competition for talent in the international legal sector. We have taken steps to ensure that our compensation is competitive. We invest consciously – the company is ambitious. As of September 2020, HSF had 26 offices in Asia, Australia, Europe, North America and the Middle East. [23] [24] The Seoul and Tokyo offices are occupied by Commonwealth lawyers and do not practice local law. [21] The Tokyo office relies on a mediation agreement with Japan`s Big Four law firms to avoid competing with them for local legal work and difficulties in hiring Japanese lawyers.
[25] The premium is another indicator that the international legal profession has weathered the Covid-19 pandemic well. For HSF, the signs were already positive when the company recorded a turnover of £1 billion in July last year after a 2.5% increase in turnover. In the legal profession, information is the key to success. You need to know what`s happening to customers, competitors, industries, and industries. Law360 provides the intelligence you need to stay an expert and beat the competition. Herbert Smith Freehills is one of the world`s leading professional services firms, bringing together the best people in our 26 offices to provide all your legal services worldwide. We can help you seize opportunities while managing risk. Until 2011, Herbert Smith had a European partnership with the German company Gleiss Lutz and the Benelux company Stibbe. A merger plan with these companies has not been implemented.
[13] Insider Scorecard scores range from A* to D and come from the Legal Cheek Trainee and Junior Lawyer Survey 2021-22 of over 2,000 junior trainees and partners at leading UK law firms. Just one day after Allen & Overy (A&O) announced that it was firmly maintaining its newly qualified salary (NQ) of £107,500, Herbert Smith Freehills (HSF) announced a striking 14% increase in NQ wages from £105,000 to £120,000. Herbert Smith Freehills (HSF) has secured victory for the Financial Conduct Authority (FCA) in a landmark test case aimed at clarifying whether companies have valid business interruption insurance claims due to the Covid-19 pandemic. While the decision provides the necessary clarity, the insurance industry is expected to appeal the decision, meaning business owners will still face uncertainty. The result could affect up to 370,000 business interruption insurance policies in various industries. Fortunately, it`s not just us. Ironically, Justin D`Agostino, CEO of HSF, faces the same dilemma. This is his first face-to-face meeting since taking office in May 2020. It`s also his first day in London in nearly two years. HSF`s profit increase is even more flattering when you consider last year`s 34 global affiliate promotions, the largest advertising round in the company`s history. In addition to the 14 lateral entrants, partner headcount grew by about 1 to 2 percent, according to Chief Financial Officer Steve Bowers. Freehills was an Australian-based business law firm operating in the Asia-Pacific region.
In Australia, it was considered one of the six major Australian law firms. [15] Herbert Smith Freehills was born after the merger in October 2012. [5] The merger involved the immediate financial integration of the companies into a single partnership and profit pool, an unusual structure for this type of merger. [18] The merger was hampered by different compensation structures in different companies; Herbert Smith practiced a lockstep compensation system, while Freehills practiced a performance-based compensation system. Freehills also had a larger number of participating partners. [19] The results were particularly pleasing for D`Agostino, which earlier this year unveiled its “Ambition 2025” strategy, which aimed to increase the company`s transactional firepower as well as leverage HSF`s historic presence in Asia. According to D`Agostino, the region has grown at a “double-digit rate.” It`s an early sign that companies are divided on investment appetite, as a market shift could be on the horizon: A&O took a risk yesterday by freezing its employees` salaries, citing a “more challenging business environment.” The newly installed CEO, Justin D`Agostino (pictured), added: “There is a huge amount of optimism; There was significant growth in Asia, EMEA and New York, all jurisdictions we wanted to expand into. We were pleasantly surprised at how resilient revenues were. Chief Executive Justin D`Agostino (pictured) praised the company`s increased sales, which he attributed to “client demand and increased market share” and the impact of HSF`s international network, saying legal revenues were up 10% in London, while in Australia and China, They were up “by a similar margin” and 7%. Herbert Smith Freehills is considered one of the most elite and selective law firms in the world, with special recognition in dispute resolution.
[7] [8] [9] In 2015, HSF held the largest number of FTSE 100 clients of any law firm and represented 39 of the 100 firms. [10] She advises the largest number of FTSE 100 clients in UK Court of Appeal cases. [11] Work-life balance at HSF is better than most companies in its class, although this appears to have deteriorated during the pandemic with the advent of remote work.