Freshfields Bruckhaus Deringer

Freshfields Bruckhaus Deringer LLP is one of the largest multinational law firms in the world, headquartered in London.[3] The company traces its roots to the 18th century.[4]

Freshfields Bruckhaus Deringer LLP
Headquarters100 Bishopsgate
London, United Kingdom
No. of offices28
No. of lawyers
  • Partners: 427
  • Associates: 1,611[1]
No. of employees4,959
Major practice areas
  • Banking & Finance
  • Capital Markets
  • Competition/Antitrust
  • Corporate/M&A
  • International Arbitration
  • Litigation
  • Private Equity
  • Projects & Energy
  • Real Estate
  • Tax
Key people
  • Stephan Eilers
    (Managing Partner)
  • Edward Braham
    (Senior Partner)
Revenue £1.472 billion (2018/19)[2]
Profit per equity partner £1.839 million (2018/19)[2]
Date founded2000 (by merger)
FounderSamuel Dodd and James William Freshfield
Company typeLimited liability partnership
Websitefreshfields.com

Background

Freshfields Bruckhaus Deringer is considered the oldest international law firm in the world, and a member of the Magic Circle of leading London-headquartered law firms.[5]

Freshfields Bruckhaus Deringer was created in 2000 when U.K.-based Freshfields merged with the two law firms, Germany-based Deringer, Tessin, Herrmann, & Sedemund and Germany-and-Austria-based Bruckhaus, Westrick, Heller, Löber.[6][7]

Activity

The firm has 27 offices in 17 jurisdictions across Asia, Europe, the Middle East and North America. It advises national and multinational corporations, financial institutions and governments.

The firm sponsors an annual autumn lecture at Cambridge University. Past orators have included Lord Neuberger, Lady Brenda Hale and Lord Sumption.

Since 2017, German prosecutors have twice raided Freshfields’ Frankfurt offices as they investigate the phantom trading fraud that Germany estimates cost it more than 5 billion euros, also known as cum ex fraud.[8] Freshfields Bruckhaus Deringer gave tax advice which was used to justify its legality and in November 2019, Ulf Johannemann, a former Freshfield lawyer was imprisoned.[8]

In 2019, the firm became the first law firm to raise the salaries of newly qualified junior lawyers in the United Kingdom to £100,000.[9] The firm announced Georgia Dawson as its new Senior Partner in 2020.

History

Freshfields' origins arguably go back to c.1716, when Thomas Woodford began to practise law. Woodford was succeeded in his practice in 1730 by William Wall, who was succeeded in turn in 1743 by Samuel Dodd.[10] In that same year, Dodd was appointed attorney to the Bank of England.[11] Freshfields (in the firm's various incarnations) have been the bank's legal advisers ever since. Dodd's appointment is treated by Freshfields as the firm's foundation date.[3]

The firm changed its name on numerous occasions as different partners joined or left. In 1801 James William Freshfield (1775–1864) was the first member of the Freshfield family to become a partner, and the firm became known as Winter, Kaye, Beckwith & Freshfield. Following further name changes, it became Freshfield & Son in 1825, and eventually Freshfields 1868–76, Freshfields & Williams 1876–98, Freshfields 1899–1918, Freshfields & Leese 1918–1921, Freshfields, Leese & Munns 1921–1945, and Freshfields 1946–2000.[11][10] The last member of the Freshfield family to be a partner, another James William Freshfield, retired in 1927.[12][13]

Bruckhaus Westrick Heller Löber traces its origins to Hamburg in 1840. At the time of its 2000 merger with Freshfields it was one of the two largest law firms in Germany.[5][14]

Deringer Tessin Herrmann & Sedemund was founded in 1962 by Arved Deringer and Claus Tessin and was based in Cologne from 1970 -2000.

Emblem

The first James William Freshfield (1775–1864) adopted the crest of John Freshfield of Norwich as his own, having seen it as a boy. It was subsequently used as the firm's emblem. It represents St Michael, depicted as an angel with a spear.

Controversies

The firm has in recent years been involved in several controversies. In 2019, before he resigned from the firm, partner Ryan Beckwith was accused of having engaged in sexual activity with a junior lawyer at the firm,[15] and was subsequently reprimanded and fined £35,000 by the Solicitors Disciplinary Tribunal.[16] There have since emerged other similar cases involving partners at the firm.[17] However, this judgment was overturned, and Beckwith consequently exonerated, by the High Court in 2020.[18] The firm has since deployed a 'conduct committee' whereby the firm can fine its own partners for untoward behaviour.[19]

In the same year, the firm also faced questioning by the Solicitors Regulation Authority over its review into how UBS dealt with a rape complaint.[20]

In 2019, partners in the firm's Germany offices became embroiled in the long-running 'cum-ex' scandal. In November that year, the firm's former head of international tax Ulf Johannemann was arrested.[21] Then in June 2020, a second former partner was charged with aiding and abetting serious tax evasion in the scandal.[22]

In 2020, the firm was also discovered to have had historic ties to the Atlantic slave trade. In particular, the firm's name founder, James William Freshfield, financially benefited from slavery by acting as a trustee and owner-in-fee for several slave-owners.[23]

See also

References
  1. "Freshfields Bruckhaus Deringer LLP - True Picture". Chambers Student.
  2. Moloney, Rachel (5 July 2018). "Freshfields returns to form as PEP reaches record levels". The Lawyer. Retrieved 6 March 2019.
  3. "Our History: Old hands at hands at new ideas". Freshfields Bruckhaus Deringer. Retrieved 20 June 2019.
  4. https://www.freshfields.com/en-gb/about-us/our-history/
  5. "Freshfields Brockhaus Deringer". Legal Week. 14 December 2009.
  6. "Freshfields: Kings of Europe". The Lawyer. 29 March 2004.
  7. "Freshfields Bruckhaus Deringer LLP: Firm Profile". Chambers and partners. Retrieved 8 August 2008.
  8. "Former Freshfields lawyer arrested over German tax scam: sources". Reuters. 2019-11-28. Retrieved 2020-01-25.
  9. https://www.thelawyer.com/freshfields-becomes-the-first-magic-circle-firm-to-raise-nq-pay-to-100000/
  10. Slinn 1984, p. 177.
  11. Slinn, Judy (1993). Freshfields, 1743–1993, London: Freshfields
  12. Slinn 2007.
  13. Slinn 1984, pp. 177–178.
  14. "Sights set on the big three". The Lawyer. 28 February 2000. Archived from the original on 16 February 2018.
  15. "In Detail: The Allegations Against Freshfields Partner Ryan Beckwith". Law.com International.
  16. "Ryan Beckwith Avoids Ban in Disciplinary Tribunal Hearing".
  17. "Another Freshfields Partner Exits Firm Following Internal #MeToo Investigation".
  18. https://www.lawgazette.co.uk/news/breaking-ryan-beckwith-wins-misconduct-appeal/5106589.article
  19. "Freshfields to Establish 'Conduct Committee', Partners Could Face 20% Pay Penalty for Bad Behaviour".
  20. "Freshfields Faces SRA Questions on UBS Rape Case Review".
  21. "Freshfields 'Cum-Ex' Scandal Partner Arrested".
  22. "Former Freshfields Tax Partner Charged in Cum-Ex Scandal".
  23. "Law Firms' Past Links To Slavery and Imperialism Unearthed".

Further reading
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