Slaughter and May is a British
law firm
A law firm is a business entity formed by one or more lawyers to engage in the practice of law. The primary service rendered by a law firm is to advise consumer, clients (individuals or corporations) about their legal rights and Obligation, respon ...
headquartered in
London
London is the Capital city, capital and List of urban areas in the United Kingdom, largest city of both England and the United Kingdom, with a population of in . London metropolitan area, Its wider metropolitan area is the largest in Wester ...
, England. Founded in 1889, it has offices in
Beijing
Beijing, Chinese postal romanization, previously romanized as Peking, is the capital city of China. With more than 22 million residents, it is the world's List of national capitals by population, most populous national capital city as well as ...
,
Brussels
Brussels, officially the Brussels-Capital Region, (All text and all but one graphic show the English name as Brussels-Capital Region.) is a Communities, regions and language areas of Belgium#Regions, region of Belgium comprising #Municipalit ...
and
Hong Kong
Hong Kong)., Legally Hong Kong, China in international treaties and organizations. is a special administrative region of China. With 7.5 million residents in a territory, Hong Kong is the fourth most densely populated region in the wor ...
in addition to London.
[
]
History
Slaughter and May was founded on 1 January 1889 by William Capel Slaughter and William May both previously of Ashurst Morris Crisp (later Ashurst). The firm's first office was located at 18 Austin Friars in the City of London
The City of London, also known as ''the City'', is a Ceremonial counties of England, ceremonial county and Districts of England, local government district with City status in the United Kingdom, city status in England. It is the Old town, his ...
.[ In 1974, the firm opened an office in ]Hong Kong
Hong Kong)., Legally Hong Kong, China in international treaties and organizations. is a special administrative region of China. With 7.5 million residents in a territory, Hong Kong is the fourth most densely populated region in the wor ...
, being the first London law firm to establish a presence there. During the 1980s and 1990s, the firm acted on a number of privatisations in the United Kingdom, including those of British Airways
British Airways plc (BA) is the flag carrier of the United Kingdom. It is headquartered in London, England, near its main Airline hub, hub at Heathrow Airport.
The airline is the second largest UK-based carrier, based on fleet size and pass ...
, British Gas
British Gas (trading as Scottish Gas in Scotland) is an energy and home services provider in the United Kingdom. It is the trading name of British Gas Services Limited and British Gas New Heating Limited, both subsidiaries of Centrica. Serving ...
and British Steel Corporation
British may refer to:
Peoples, culture, and language
* British people, nationals or natives of the United Kingdom, British Overseas Territories and Crown Dependencies.
* British national identity, the characteristics of British people and cultur ...
.[
In 2002, Slaughter and May moved to its current London office at One Bunhill Row. Slaughter and May closed its New York office in September 2004 and its Singapore office in October 2004, instead referring its U.S. work to Wall Street firms and its Southeast Asia work to the Australian firm of Allens Arthur Robinson. In December 2005, Slaughter and May agreed to cede its Paris office to the French law firm Bredin Prat. In 2009, the firm opened an office in ]Beijing
Beijing, Chinese postal romanization, previously romanized as Peking, is the capital city of China. With more than 22 million residents, it is the world's List of national capitals by population, most populous national capital city as well as ...
, China
China, officially the People's Republic of China (PRC), is a country in East Asia. With population of China, a population exceeding 1.4 billion, it is the list of countries by population (United Nations), second-most populous country after ...
,[ to focus mainly on M&A and outbound and inbound investment.]
In comparison to other Magic Circle firms, Slaughter and May has a minimal overseas presence. Its international practice largely relies on relationships with local law firms in other countries, many of which themselves have minimal overseas presence, and thus do not compete with Slaughter and May. These closely associated firms have included Clayton Utz, Corrs Chambers Westgarth and Gilbert + Tobin in Australia; Bell Gully
Bell Gully is a major New Zealand law firm. Founded in 1840 it is one of New Zealand's largest law firms, and along with Chapman Tripp and Russell McVeagh it is considered to be one of the "big three".
Bell Gully is a full-service law firm. ...
in New Zealand; BonelliErede, Bredin Prat, De Brauw Blackstone Westbroek, Hengeler Mueller and Uría Menéndez in continental Europe; Shin & Kim and Kim & Chang in South Korea; and three of the Big Four law firms in Japan.
Operations
In 2015 its partners earned the highest profit per equity partner (PEP) of any UK law firm.
In 2015, the firm represented 33 clients on the FTSE 100
The Financial Times Stock Exchange 100 Index, also called the FTSE 100 Index, FTSE 100, FTSE, or, informally, the "Footsie" , is the United Kingdom's best-known stock market index of the 100 most market capitalisation, highly capitalised ...
and 44 clients on the FTSE 250
The Financial Times Stock Exchange 250 Index, also called the FTSE 250 Index, FTSE 250, or, informally, the "Footsie 250" , is a stock market index that consists of the 101st to the 350th mid-cap blue chip companies listed on the London Stock ...
, more than any other firm at the time, including governments, entrepreneurs, funds to leading banks, retailers, entertainment companies, industrial conglomerates and professional sports clubs.
In London, Hong Kong and Beijing, Slaughter and May's core practice areas are mergers and acquisitions
Mergers and acquisitions (M&A) are business transactions in which the ownership of a company, business organization, or one of their operating units is transferred to or consolidated with another entity. They may happen through direct absorpt ...
, corporate and financing work.
In Brussels, its practice areas are competition, financial regulation, data protection, as well as trade issues raised by Brexit
Brexit (, a portmanteau of "Britain" and "Exit") was the Withdrawal from the European Union, withdrawal of the United Kingdom (UK) from the European Union (EU).
Brexit officially took place at 23:00 GMT on 31 January 2020 (00:00 1 February ...
.
Carillion collapse
In May 2018, a report by a joint inquiry of members of the UK parliament criticized the firm for billing more than £8 million for legal advice to Carillion
Carillion plc was a British multinational construction and facilities management services company headquartered in Wolverhampton in the United Kingdom, prior to its liquidation in January 2018.
Carillion was created in July 1999, following a ...
from when its dire financial position became clear in May 2017 to its eventual collapse in January 2018. Members of parliament said that "names such as Slaughter and May, Lazard, Morgan Stanley and EY were brandished by the board as a badge of credibility. But the appearance of prominent advisers proves nothing other than the willingness of the board to throw money at a problem and the willingness of advisory firms to accept generous fees". The report added that "by the end, a whole suite of advisers, including an array of law firms, were squeezing fee income out of what remained of the company. £6.4m disappeared on the last working day alone as the directors pleaded for a taxpayer bailout". Rachel Reeves, the Labour MP who chaired the Commons business committee, said that after the accountancy firms "it was Carillion's legal advisers who took the big payouts in the company's dying days".
Notable clients and cases
* During the 2008 financial crisis
The 2008 financial crisis, also known as the global financial crisis (GFC), was a major worldwide financial crisis centered in the United States. The causes of the 2008 crisis included excessive speculation on housing values by both homeowners ...
, the firm advised HM Treasury
His Majesty's Treasury (HM Treasury or HMT), and informally referred to as the Treasury, is the Government of the United Kingdom’s economic and finance ministry. The Treasury is responsible for public spending, financial services policy, Tax ...
with recapitalising and stabilising UK Banks.
* During the COVID-19 pandemic
The COVID-19 pandemic (also known as the coronavirus pandemic and COVID pandemic), caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), began with an disease outbreak, outbreak of COVID-19 in Wuhan, China, in December ...
, the firm advised HM Treasury
His Majesty's Treasury (HM Treasury or HMT), and informally referred to as the Treasury, is the Government of the United Kingdom’s economic and finance ministry. The Treasury is responsible for public spending, financial services policy, Tax ...
on the government's emergency corporate covid financing facility (CCFF). The CCFF is intended to purchase commercial paper, a debt instrument, from companies in order to boost their liquidity.
* The firm advised the now liquidated British multinational construction company Carillion on asset sales, rescue bids and restructuring.
* In 2019, the firm advised Prudential plc and M&G plc on the demerger of M&G from Prudential.
* The firm advised New England Sports Ventures
Fenway Sports Group Holdings, LLC (FSG), is an American multinational sports holding conglomerate which owns Major League Baseball's Boston Red Sox, Premier League’s Liverpool, National Hockey League's Pittsburgh Penguins, NASCAR's RFK Racin ...
(now Fenway Sports Group
Fenway Sports Group Holdings, LLC (FSG), is an American multinational sports holding conglomerate which owns Major League Baseball's Boston Red Sox, Premier League’s Liverpool F.C., Liverpool, National Hockey League's Pittsburgh Penguins, NAS ...
) in their £300m takeover of Liverpool F.C.
Liverpool Football Club is a professional Football club (association football), football club based in Liverpool, England. The club competes in the Premier League, the top tier of English football league system, English football. Founded in ...
* The firm advised GlaxoSmithKline
GSK plc (an acronym from its former name GlaxoSmithKline plc) is a British Multinational corporation, multinational Pharmaceutics, pharmaceutical and biotechnology company with headquarters in London. It was established in 2000 by a Mergers an ...
on its high-profile joint venture with Novartis
Novartis AG is a Swiss multinational corporation, multinational pharmaceutical company, pharmaceutical corporation based in Basel, Switzerland. Novartis is one of the largest pharmaceutical companies in the world and was the eighth largest by re ...
. The transaction received the 2015 Deal of the Year award by ''Financial News''.
Attorneys and alumni
* Steve Edge
Steve Edge (born 2 November 1972) is an English actor, writer and former stand-up comedian. He is most famous for his work on '' Starlings'', '' Phoenix Nights'', '' The Cup'', '' The Visit'', '' Peep Show'', ''Benidorm'', ''The Madame Blanc ...
* Alan Grieve
* Giles Henderson
* Simon Clarke
* Ivo Stourton
* Chris Jenkins
* Seema Kennedy
* Charles Randell
* William Watson
* David Green
See also
* List of largest law firms by profits per partner
This is a list of global law firms ranked by profits per equity partner (PPEP) in . Firms marked with "(verein)" are structured as a Swiss association.
These are estimates and equity partners can make vastly different salaries inside the same firm ...
References
External links
Official website
*
{{DEFAULTSORT:Slaughter And May
Law firms of the United Kingdom
Law firms established in 1889
Companies based in the London Borough of Islington
Foreign law firms with offices in Hong Kong
1889 establishments in England
British companies established in 1889