The Lawyer | April 2015 1 Lawyer Article

LND: Latham’s Sadanandan: is a bright spot for us

Latham & Watkins has a new In several areas the firm is now Latham is unlikely to de- deputy managing partner and a London managing partner in Jay competing head on with the magic emphasise promoting from within new office managing partner,” says Sadanandan, but like the song, the circle, not just in the UK but also in any time soon. Sadanandan. “But the strategic strategic direction remains the parts of Continental Europe, “We’re currently reviewing what direction remains the same.” same. notably Germany and France. And the needs are of the London office The results of Latham’s decision Next month will then there’s the US, where Latham and where we think we should to stick to its knitting, including its unveil the 2015 edition of the is also a bit handy, apparently. continue to focus,” Sadanandan London revenue for 2014 and International Top 30 firms in In the City Latham has also just adds. “I think a number of our position in this year’s table, will be London. Spoiler alert: you can received an injection of energy in investments have paid off. For revealed on 18 May in the bank on the fact that one of the the shape of new managing partner example we advised five out of the International Top 30 Firms in most prominent firms in this Jay Sadanandan, who took over top 10 most active buyout firms in London 2015. annual feature will be Latham & from former London head Nick Europe last year and we’re ranked Watkins. Cline last month after he stepped number two by volume of Frankly Latham has been the down at the end of his five-year European buyouts.” go-to firm in the City for some term (10 March 2015). Sadanandan points in particular time, but its track record in The appointment of Sadanandan to Latham’s advice to Onex on its attracting top drawer talent over followed shortly after Latham $4.6bn acquisition of SIG the past year or so has only served posted record firm-wide financial Combibloc, one of the largest to enhance those credentials. results (24 February 2015), with a European buyouts of 2014 and a In short, Latham is on a roll. In revenue hike of 14.3 per cent good example of a US-based client London the firm has hired a string during 2014 from $2.28bn to looking to invest in Europe. of partners in a variety of practice $2.61bn (£1.69bn). Latham advised on both the areas, some new, some not so new. Clearly finance partner M&A (with corporate partner Mike environment Sadanandan, who had held the role Bond leading) and the financing, partner Paul Davies and former of deputy managing partner since which featured a complex bridge, Olswang partner and March 2013, is taking over at a good bank and bond financing and entertainment specialist Libby time in the firm’s history. included both US and European Savill from O’Melveny & Myers, the As far as she’s concerned, despite elements. The financing also latter a member of The Lawyer’s the change in management in featured Latham’s new London Hot 100 (20 April 2015), have both London and globally (former head working on the deal. joined recently, as has Nick Benson London head Bill Voge was “That was a great example of our from Weil Gotshal & Manges. appointed firm-wide chair last year finance practice working together Tom Alabaster has come in from (15 July 2014), succeeding Bob Dell with corporate,” adds Sadanandan, Carlyle (23 April 2014) as has after two decades in the role) who reveals that this was a structured finance partner Lucy Latham will simply keep on doing pre-existing relationship in the US Oddy from Berwin Leighton what it’s been doing. but the first time Latham had Paisner (25 March 2014). “For us we’ve just continued to advised Onex in the UK. Latham is also looking to build focus on strategic growth,” says The deal also highlights the out its disputes practice and to that Sadanandan. “London is very typical management-light Latham end promoted Charlie Claypoole to much a bright spot and we see it as approach. partner at the start of this year. a market that offers great “Latham doesn’t have any non And then of course there are the opportunities for further growth, fee-earning managers apart from marquee hires of private equity both internal and external. We’ve three people,” says Sadanandan. specialists David Walker (8 April hired where it makes sense, for “That’s the chair [Voge] and the 2013), Kem Ihenacho (18 February example in private equity, or to two vice chairs [Silicon Valley- 2014) and Tom Evans from Clifford deepen our industry or regional based Ora Fisher and New Chance (9 October 2013). expertise, such as in areas like oil York-based David Gordon]. And As one London recruiter put its, and gas or Africa.” the deputy managing partner role “people are queuing up to go to Indeed, the firm’s energy only exists in the larger offices. It Latham”. credentials are soon to be bolstered isn’t a nod towards being Ever since the firm’s failed by the arrival of managing partner. It’s all about the merger talks with Ashurst way Freehills’ energy partner Simon right fit.” back at the start of the last decade, Tysoe. In London at the same time as when The Lawyer reported that the What “continuing to focus on Sadanandan was appointed head firm was abandoning its UK merger strategic growth” is likely to mean of the office employment and strategy “in favour of cherry- in practice is that you can expect benefits partner Catherine picking top European lawyers” (19 Latham under Sadanandan’s Drinnan, who previously served on June 2000), Latham has done leadership to continue bulking up the firm’s recruiting committee, more than any other US firm in its existing practice areas and, was appointed as Latham’s new London in terms of building scale, where appropriate, hire in fresh deputy office managing partner. profile and quality. talent to launch new ones. Equally “Now we have a new team, a new