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About Ashurst LLP

Well known for its strong corporate focus, Ashurst operates a top-tier practice while remaining just outside of the City’s Magic Circle. The firm’s traditional strength lies in serving the private equity industry, where its client roster shines with names like Apax, Blackstone and Cinven. Other important sectors include energy and transport and infrastructure. The firm has a high-level reputation across a range of practices, including M&A, finance, competition and real estate.

Not so humble beginnings

Ashurst began life in 1822 as Ashurst Morris Crisp and has maintained a position near the top of the City firms for much of its lifespan. The two founding partners of Slaughter and May were trained at Ashurst. With its practice strongly focused around FTSE companies, Ashurst is regarded as operating one of the City’s broadest plc practices, acting for clients like Morrisons, National Express and William Hill. A renewed focus on the investment banking sector has also brought clients such as Goldman Sachs, Credit Suisse, Nomura, Royal Bank of Scotland, Barclays and BNP Paribas into the Ashurst fold.

Global ambitions

Ashurst opened its first office outside Britain in 1989 in Brussels. It was closely followed by outposts in Tokyo in 1990 and Paris in 1991. Over the next decade, Ashurst launched offices in Singapore, Frankfurt, Milan, Madrid and Munich. The firm established a liaison office in New Delhi in 1994, but after the Bombay High Court banned practice by foreign firms in 2009, the office was closed; Ashurst still maintains a dedicated India group and in 2011 entered into a best friends relationship with local firm Indian Law Partners. A new office was opened in Stockholm in 2007 and in 2008, Ashurst set up shop in Hong Kong, in association with Jackson Woo & Associates. That year Ashurst also opened an office in Abu Dhabi, which works closely with the firm’s Dubai office. In 2011, Ashurst added an office in Rome.

Transatlantic crossings

Notwithstanding the economic climate and the impact of the credit crisis on structured finance, in early 2009 Ashurst launched itself onto American shores via the hire of a 11-partner structured finance team from US law firm McKee Nelson. The bold move gave Ashurst a presence in both New York and Washington. Since then, the firm has hired its first lateral partners in the US and launched a project finance team in New York, hoping to capitalise on a growing infrastructure market. In another major development, Ashurst announced that it will combine its Asian practice with that of Blake Dawson, one of Australia’s leading law firms, in March 2012. The plan is for the two firms to merge in three years.

Ashurst’s non-UK business now represents 40 per cent of total revenue. After a period of streamlining and restructuring in 2009 and 2010 that saw a number of partner exits and a flurry of lateral recruitment, the firm reported solid results for the 2010-11 financial year, with increases in both turnover and net profit.

The bigger the better

Ashurst has an impressive record of advising on some of the biggest deals around, including the $30 billion acquisition of Sual by Ashurst client Rusal in 2006, and the representation of Hoare Govett, Morgan Stanley and (pre-collapse) Lehman Brothers on Imperial Tobacco Group’s £4.9 billion rights issue in 2008—one of the largest non-banking sector underwritten rights issues in the UK. The uptick in recession-related insolvencies in the first decade of the 21st century has also kept the firm busy. Ashurst advised the executive management of Countrywide, the largest residential estate agency in the UK, in its restructuring. And the firm’s advice was sought by the Icelandic government with regard to the its obligations to repay the nearly €4 billion paid out by the British and Dutch governments to depositors following the collapse of the country’s bank Icesave.

Ashurst LLP

55 Hudson Yards
New York, NY 10001
Phone: (212) 205-7000

Stats

Global Managing Partner: Paul Jenkins

Base Salary

New York, NY
1st year: $190,000
2nd year: $200,000
3rd year: $220,000
4th year: $255,000
5th year: $280,000
6th year: $305,000
7th year: $325,000
8th year: $340,000

Major Office Locations

New York, NY
Abu Dhabi
Beijing
Brisbane
Brussels
Canberra
Dubai
Frankfurt
Glasgow
Hong Kong
Jakarta
Jeddah
London
Luxembourg
Madrid
Melbourne
Milan
Munich
Paris
Perth
Port Moresby
Riyadh
Shanghai
Singapore
Sydney
Tokyo