Simmons & Simmons has today announced a solid start to FY2017/18, with an increase of 12% in income from the previous year, bringing in revenue of £167.3m for the first six months of 2017/18, up on the previous year's first half figure of £149.4m.
The firm continues to grow with 27 additional partners since May 2017 (including 13 promotions).
Managing Partner, Jeremy Hoyland says: "I am pleased with the results for the first half of the financial year and thank our employees for the outstanding contribution they have made. We have seen strong results in all of our sectors, AMIF, FI, TMT and Life Sciences. We will be continuing to build on our many strengths and look to leverage off the investments we have made".
Dublin
In October 2017 Simmons & Simmons confirmed the opening of a new office in Dublin with the hire of Fionan Breathnac. Fionan joins from Mason Haye & Curran where he headed the investment funds & financial regulation practice. The new office will initially focus on investment funds work and regulatory work for asset managers and financial institutions.
Establishing a presence in Ireland reinforces the firm's position as one of the leading asset management firms in Europe, the Middle East and Asia.
Innovation
The firm enjoyed an admirable reputation for innovation and creativity and continues to expand its digital presence. Products, initiatives and partnerships during H1 2017/18 include:
- Brexit Transition Toolkit
- LaunchPlus: Hong Kong
- LaunchPlus: Singapore
- Disputes Aviator
- Africa Mining Legal Database
- Becoming the legal partner to FinTech Hive at Dubai International Financial Centre Authority (DIFC), the first-of-its-kind accelerator in the Middle East, Africa and South Asia (MEASA) region
Client Work
Work highlights for H1 2017/18 include advising:
- Allianz Global Investors on the cross-border merger with Rogge Global Partners
- Alzheimer’s Research UK’s involvement in £250m UK Dementia Research Institute
- the mandated lead arrangers lead by Mediobanca – Banca di Credito Finanziario and Bank of America Merrill Lynch on the €1.5bn financing to the International Game Technology/Lottomatica Group and the amendment of the Group’s US$ 1.8bn and €1.05bn multicurrency revolving facilities
- Cenkos and Stifel on a US$520m placing and convertible bond offering by Hurricane
- CYBG PLC on the establishment of its £10bn Global Medium Term Note Programme
- Gangtai Group Corporation Limited on the completion of its 85% stake acquisition of Buccellati Holding Italia S.p.A., a prestigious Italian luxury jewellery brand.
- German retailer, Metro Group on its equity investment in Yoyo Wallet
- Invesco on the acquisition of exchange-traded funds (ETF) firm Source
- Mercury Payments Services LLC (Mercury) on the phased rollout of an innovative payment service through cards issued by the Roads and Transport Authority of Dubai (RTA)
- Republic of Italy’s buy-back for the record amount of €4.2bn of its €22.418bn BTP Italia issuance
- The Republic of Italy on a first of its kind sovereign liability management exercise
- Tozzi SRL which led to victory at Singapore International Commercial Court
- Wind Tre on the €1bn international tender for the integration and modernisation of the network of the combined entity resulting from the merger between the 2 Italian mobile operators Wind Telecomunicazioni (VimpelCom group) and 3-H3G (Hutchinson Whampoa group).
- Wise SGR on several acquisitions and disposals including the transactions involving the Biolchim Group, OpenjobMetis Group and the Primat Group.
Simmons & Simmons was also appointed to the UK Government's Finance and Highly Complex Legal Advice (FaCLS) panel and continues to provide strategic advice to the financial services industry on Brexit and MiFID2.
- Best onshore law firm – client service - HFM European Hedge Fund Services Awards 2017
- Hyperfinance named best thought leadership campaign – Investment Week Fund Service Awards 2017
- FinTech Law Firm of the Year, IFN Law Awards
- Law Award for FinTech – Islamic Finance News
- Law Firm of the Year - Global Investor MENA Awards 2017
- Life Sciences Law Firm of the Year – Toplegal Industry Awards 2017
- Project Finance Deal of the Year - IFLR Europe Awards 2017
- Ranked as a Stonewall Top Global Employer 2017
- TMT Team of The Year Award – Middle East Legal Awards 2017
- Simmons & Simmons Translator named ‘most innovative use of technology’ – The Lawyer Awards 2017
- TMT Law Firm of the Year 2017 - The Oath Middle East Legal Awards
- Deian Rhys ranked in FT OUTstanding leading LGBT+ Executives list
- Banking & Finance Team of the Year - Qatar Business Law Forum Awards 2017
- Ranked 27 in the UK’s first-ever Social Mobility Employer Index
- Recognised in UN Standards of Conduct for business on tackling discrimination against LGBTI people
- Life Sciences Sector Regulatory Law Firm of the Year - Global Law Experts' Annual Awards 2017
- Paola Leocani named Capital Markets Professional of the Year - TopLegal Awards 2017
- Colin Passmore ranked 25 – FT and HERoes Champions of Women in Business list 2017
- Top 30 employer – Working Families