It’s been a fast-moving and transformational year at IFLR.
Over the past 12 months, we’ve launched a number of new features including the Talent Tracker and What Corporates Want reports while continuing to refine our coverage in our core areas of banking, capital markets, M&A and ESG with a business of law focus.
To close out this busy period, here are our top picks as we reflect on the key stories from 2024.
1. What Corporates Want: how law firms can win new business
Based on surveys covering more than 25,000 in-house lawyers, the What Corporates Want series provides insights into what law firms must score highly on in the eyes of in-house counsel. During the research, in-house counsel were asked to rate a range of attributes – each of which formed the basis of an individual report – based on how these factor into their hiring decisions. The 13 attributes included industry knowledge, technology use, reputation and ESG.
Read the full article here.
2. IFLR+ Talent Tracker reveals busy quarter for M&A hires
IFLR launched Talent Tracker, an interactive database that follows partner moves across the global financial-legal market, in January this year. Users can search or filter the database by date, jurisdiction, region and law firm to gain key insights into global moves and hiring trends in practice areas such as banking and finance, and M&A. Of the 452 global legal hires tracked between January and March, 176 (40%) specialised in M&A. The M&A hiring spree has continued throughout the rest of 2024.
Read the full article here.
3. IFLR1000 Middle East rankings revealed
IFLR’s legal benchmarking title, IFLR1000, revealed its rankings for the Middle East, including which firms made it into the top tier, in June. A total of 594 firms across 11 jurisdictions were ranked for their work in the Middle East and more than 390 firms participated in the research. There were 61 newly ranked firms. The top five jurisdictions with the most changes were Bahrain, Egypt, Israel, Saudi Arabia and the United Arab Emirates.
Read the full article here.
4. Magic circle firms dominate IFLR’s Europe Awards
Magic circle firms were the clear winners at this year’s IFLR Europe Awards, with Clifford Chance scooping up 12 prizes and Allen & Overy taking home six. The third of IFLR’s 25th anniversary awards series took place on April 24. Held at the luxurious Royal Lancaster in London, the black-tie event saw more than 300 attendees come together to celebrate the most innovative financial and corporate deals, teams and firms, and outstanding individuals over the past 12 months.
Read the full article here.
5. A&O Shearman aims to be ‘destination firm for financial matters’
Doreen Lilienfeld, US co-managing partner of A&O Shearman, was winner of the outstanding achievement award at the Legal Benchmarking Group’s Women in Business Law Americas Awards, which took place in New York in June. We spoke with Lilienfeld to hear about what she hopes to achieve as US co-managing partner of the world’s third largest law firm, the opportunities and challenges for the newly merged firm, and the advice she has for young lawyers.
Read the full article here.
6. US-Japan cross-border M&A expected to rise in 2024
Back in January, we spoke to lawyers at Ropes & Gray and Akerman who said that M&A deals going into Japan from the US would see an uptick due to a weak yen and low interest rates in Japan. They also said that deals going the other way would rebound as Japanese companies continue to be pressed by shareholders and domestic stock exchanges for better returns through M&A activities. Looking back at the deals in 2024, it looks like they were right about their predictions.
Read the full article here.
7. ESG due diligence spurs clients to walk away from deals
Clients are increasingly abandoning deals due to red flags identified during the ESG due diligence process. This shift reflects the growing importance of reputational risk and stakeholder expectations in dealmaking. We spoke with Baker McKenzie, Travers Smith, BonelliErede and Clifford Chance to explore this trend and its implications for M&A lawyers.
Read the full article here.
8. IBA 2024: future-proofing law firms through business development
At the IBA Annual Conference in Mexico City in September, panellists explored the key challenges general counsel are facing and how law firms are preparing the next generation to manage client relationships effectively. Law firm business development leaders prioritise building 'sticky relationships' with clients, while general counsel expect firms to demonstrate a deeper understanding of their needs.
Read the full article here.
9. Behind the deal: Clifford Chance on HSBC’s market-first gold token
Clifford Chance advised HSBC on the launch of its digital gold token for the Hong Kong retail market in March. The product is the first tokenised real-world asset issued by a bank for retail investors and leverages distributed ledger technology to enhance liquidity and market accessibility. Partners Rocky Mui and Terry Yang joined HSBC’s Sami Abouzahr in revealing the intricacies in launching the bank’s gold token.
Read the full article here.
10. Championing equality: ‘Allies play critical role in supporting inclusion’
The Legal Benchmarking Group’s inaugural Social Impact Americas Awards were held in a momentous ceremony at the prestigious Metropolitan Club in New York City in June. Jordan Schwartz, a counsel at Skadden, Arps, Slate, Meagher & Flom in Washington DC, was the recipient of the LGBTQ+ Advocacy Leader of the Year Award. As a distinguished private practice lawyer, Schwartz has tirelessly championed the representation of the LGBTQ+ community through recruitment efforts, as well as across the wider legal community.
Read the full article here.
