Sullivan & Cromwell hires top lawyers, plans more hires in London

𝐁𝐫𝐞𝐚𝐤𝐢𝐧𝐠 𝐭𝐡𝐞 𝐦𝐨𝐥𝐝: 𝐋𝐢𝐭𝐢𝐠𝐚𝐭𝐢𝐨𝐧 𝐟𝐢𝐧𝐚𝐧𝐜𝐞 𝐢𝐬 𝐞𝐧𝐭𝐞𝐫𝐢𝐧𝐠 𝐟𝐢𝐫𝐦-𝐛𝐮𝐢𝐥𝐝𝐢𝐧𝐠. 📢⚖️ This week, Burford Capital announced a minority investment in Kindleworth LLP, the London-based advisory firm that helps launch and support law firms—covering finance, tech, compliance, and HR. Why this matters: 📊 Burford is transforming from a litigation financier into a 𝒔𝒕𝒓𝒂𝒕𝒆𝒈𝒊𝒄 𝒑𝒂𝒓𝒕𝒏𝒆𝒓 for firm founders and entrepreneurial lawyers. 🔄 They’ll now have a direct line into 𝐧𝐞𝐰 𝐥𝐚𝐰 𝐟𝐢𝐫𝐦 𝐦𝐨𝐝𝐞𝐥𝐬, potentially backing firms through equity, finance, or operational support. 🌍 This aligns with Burford’s broader strategy to expand beyond litigation finance into 𝐌𝐒𝐎 (𝐌𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭 𝐒𝐞𝐫𝐯𝐢𝐜𝐞 𝐎𝐫𝐠𝐚𝐧𝐢𝐳𝐚𝐭𝐢𝐨𝐧) and 𝐀𝐁𝐒 (𝐀𝐥𝐭𝐞𝐫𝐧𝐚𝐭𝐢𝐯𝐞 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐒𝐭𝐫𝐮𝐜𝐭𝐮𝐫𝐞) models, anticipating shifts in U.S. legal ethics and structure. This is a pivotal moment in how law firms might be launched, accelerated, or scaled—and where money meets mission in legal services. Who else sees opportunity here? Would love to hear your take. #LegalIndustry #LegalFinance #BurfordCapital #Kindleworth #LawFirmInnovation #MSO #ABS #LegalTech #LawFirmGrowth

Global law firm Sullivan & Cromwell, headquartered in New York, has been known for its measured approach to lateral recruitment, but is now setting out its ambition to grow more aggressively in London. https://lnkd.in/eQw_fsbX

Great to see RSM UK Professional Services Leader Hywel Pegler included in this debate in The Times on PE investment in the legal sector. To add to the many levers and reasons in the article, many of tge PE funds circling legal and are traditionally Tech focussed. For many law firms the appeal of the funding and connections to make a deep investment in technology will be appealing. This may come from the development of new propriety approaches, acquisitions of Tech boutiques and platforms or exploring how to leverage other third party products in new markets. David Blacher | Georgie Bole | Richard Heap | James Bull | Kirsty Fraser | Laura B.

Sullivan & Cromwell has hired a London heavyweight from Kirkland & Ellis as it also draws Weil Gotshal & Manges' former London managing partner out of retirement. Restructuring partner Kon Asimacopoulos will join the U.S. firm's London base as office co-head and co-head of restructuring, who joins after nearly two decades at Kirkland & Ellis, alongside City stalwart Mike Francies (below), who retired early last year. Asimacopoulos will be U.K. co-head at Sullivan alongside John Horsfield-Bradbury. The new hires have been tasked to build out the firm's capabilities in private capital, a burgeoning sector among Big Law's elite law firms. Several U.S. law firms have been building out their London offices, as the U.K. grows in importance to their global growth strategies. Among them are Paul, Weiss, Rifkind, Wharton & Garrison, which has adopted an aggressive hiring spree, bringing in senior people from Kirkland and Linklaters, among others. In a statement, Sullivan & Cromwell co-chairs Robert Giuffra and Scott Miller said: “Kon and Mike are preeminent lawyers who have built market-leading restructuring, private capital and M&A practices in London and across Europe." They added the duo would be "cornerstones to our plans to continue growing our global restructuring, private capital and M&A practices", and "will help us attract other leading lawyers and enhance our reputation for delivering the highest-quality advice across all of our practices”. Full story from Molly Smith and Paul Hodkinson: https://lnkd.in/eBzEsdFv

Allan Ritchie, whose firm has grown from 20 to more than 120 lawyers during the eight years he has been at the helm, says he strongly agrees with Harvard Law School Fellow and law firm adviser Heidi K. Gardner, whose research has shown that a fair compensation structure is key to fostering a collaborative environment that attracts more lucrative mandates. If compensation is too heavily weighted toward origination, Ritchie says, partners may compete for client control rather than work together, making collaboration more difficult. “I think one of the problems that firms run into is, if you overweight origination as an incentive, then people are competing for client control rather than trying to grow the size of the engagement or deepen the relationship,” he said. Loopstra Nixon’s comp structure is formulaic and transparent, which encourages partners to share work and collaborate across practice areas, Ritchie said. It is designed to incentivize both origination (20%) and the profitability of collaborative work (70%), with an additional component for non-billable contributions (10%). And this comp formula is scalable to larger firms, Ritchie says, noting that Loopstra Nixon was able to successfully scale it from 16 to 120 lawyers. Loopstra Nixon combined with two other firms—Macdonald Sager and Feige Nawrock—in 2023. “It’s still attractive to new partners,” he said. Ritchie emphasized that trust and long-term commitment are essential because even with a perfect compensation system, collaboration will falter if people are focused only on short-term metrics. Full story from Gail J. Cohen: https://lnkd.in/dYcqewev

Law firm Flint Bishop has agreed a deal to acquire a counterpart in a deal that is set to grow its workforce to more than 420 people and annual turnover to in excess of £40m. https://lnkd.in/ecnqiuxH

The 2025 Global 200 rankings reveal a legal market in overdrive, with the world’s top firms riding a wave of explosive growth—but it's the elite few breaking away from the pack who are particularly intriguing, the powerful firms fueling the bulk of the momentum. While the Global 200 revenue leaderboard may shine brightest, delve deeper and the story shifts from revenue spikes to sharp divergence. The top 100 firms pulled in 80% of the Global 200’s $222 billion revenue, with the Top 50 pocketing 58% of that—an uptick from prior years. The gap grows even larger when examined through the lens of revenue per lawyer. The Top 100 firms saw their RPL jump a solid 9.3% on average. The second 100 firms barely moved the needle, with RPL rising just 0.1%. Peel back the layers and the Global 50 emerges as an unstoppable force reshaping the commercial legal landscape, with an even more remarkable layer at the pointy end of the spear—around 15 firms excelling in both scale and profitability. The race for scale speeds up at the very top, with five global giants reshaping the rules of the game. Revenue at Kirkland & Ellis and Latham & Watkins jumped 20% in a year, almost double the increase of third-place DLA Piper. Yet no throne is secure for long. DLA Piper is keen to be more closely integrated across the world which could shake up the leaderboard. Meanwhile, A&O Shearman is slimming down and recalibrating, while fifth-placed Skadden, Arps, Slate, Meagher & Flom is making a bold play in the Middle East. With so much in flux, who will emerge as the true power in this relentless game of law and strategy? Full story from Caroline Byrne: https://lnkd.in/eubJQA_z

🌍 The latest Global 100 law firms have posted over $150B in revenue for the last financial year — proof BigLaw is still thriving despite economic headwinds. US powerhouses like Kirkland & Ellis, Latham & Watkins, and DLA Piper are top of the pack, while UK firms such as Clifford Chance, Freshfields, and Linklaters continue to hold their ground. Specialist firms and Asia-Pacific players are also making big moves. It’s not just about the numbers—it’s about where demand, talent, and opportunity are growing. 🔍 Read the full ranking: https://lnkd.in/e2U2W8aP

The London branch of New York law firm Cohen & Gresser is changing tack to focus on growing its corporate practice, following key white collar departures in recent months. The firm has seen a number of high-profile departures in the past month, with John Gibson, the firm's white collar and investigations lead in London, leaving for U.S. firm Michelman & Robinson, which is debuting in London, and head of criminal defense Richard Kavolevsky KC, who has joined Reed Smith. At least three associates have also departed the firm's white collar department, according to an analysis of public profiles. While the stateside practice will keep white collar at its heart, London will eye opportunities in the corporate market rather than attempt to rebuild the depleted white collar practice, a source familiar with the firm said. Cohen & Gresser’s London practice was shifting towards corporate, targeting mid-market private equity and asset management, the person added, saying that the firm is committed to building out the corporate practice by making key hires. Full story from Oscar Glyn: https://lnkd.in/eWpGNiEU (Photo: Lawrence T. Gresser, managing partner and one of the co-founders of Cohen & Gresser.)

"Some Big Law leaders are skeptical of Burford Capital’s plan for minority investments in firms, in part because they don’t see a need for the cash. The publicly traded litigation finance pioneer last month floated the idea of buying a stake to several US law firms. Some legal leaders worry taking on these kinds of arrangements could breach state rules against non-lawyer ownership of firms. Others hesitate to relinquish any control, even for investments in back-office services only. And some struggle to know what they’d do with new money from the outside. “Our service offerings are designed to complement our lawyers in delivering the best service to our clients,” Miguel Zaldivar, chief executive officer of Hogan Lovells, said in an interview. “Profitability matters, but we also want to protect our unique culture. Even in the provision of ancillary services, I consider it a challenge.”