03:34, November 23 355 0

2017-11-23 03:34:12
Gide shakes up management in strategy refresh

Gide Loyrette Nouel has appointed a new executive committee, led by newly elected senior partner Xavier de Kergommeaux.

Paris-based banking and finance partner De Kergommeaux will succeed Baudouin de Moucheron, who has held the senior partner role since 2012. De Kergommeaux served as Gide’s managing partner between 2004 and 2009.

Meanwhile, incumbent managing partner Stéphane Puel has been re-elected to serve another five-year term.

De Kergommeaux and Puel will lead the six-member executive committee, which also consists of partners Renaud Baguenault de Puchesse, Nadège Nguyen and Emmanuel Vital-Durand, as well as secretary-general Frédérique Misk-Malher.

All members of the committee are based in the firm’s Paris head office and the new committee will take office in January 2018.

The new committee will continue to push forward Gide’s reforms, which was initiated by the previous leadership team in 2013 in a bid to turn to firm back into growth mode with a new strategy.

According to the firm’s statement, the new committee will focus on three main areas: the continuous search for providing added value to its clients, legal innovation against a backdrop of in-depth market change, and further developing internal and external group spirit.

De Kergommeaux said: “With Stéphane Puel and the other executive committee members, we will look to strengthen Gide’s leadership. Our headquarters’ move into new premises in 2018 is testament to the new dynamic we wish to build upon in the coming years: better synergies between our teams to offer solid cross-disciplinary and international legal support.”

As part of its reforms, the firm has been seen hone in on core practice areas M&A, banking and finance, litigation and employment, as well as consolidate its global network by closing a few overseas offices such as in Hong Kong and Vietnam.

According to The Lawyer European 100 2017 report, Gide remains the second largest French firm and the tenth largest in Europe by revenue. But it saw another dip in turnover in 2016, which means Gide Loyrette Nouel has failed to find any top line growth in the last five years. Turnover was €190m last year, down 1 per cent from €192m in 2015 and also from the same figure in 2012.

However, it reported an increase in average revenue per lawyer and revenue per partner. Revenue per equity partner hit €2.32m, up 10 per cent from €2.11m the previous year. The firm also claimed that profitability has risen consistently over the past five years.

“Building on our strong profitability, we will invest in each of our priorities to build the most suitable solutions for our clients and our teams,” said Puel.

Among the other members on Gide’s new committee, real estate partner Baguenault de Puchesse and administrative law partner Vital-Durand were newly elected.

Corporate partner Nguyen was re-elected to serve another term. Secretary-general Misk-Malher joined the firm in 2015 and is in charge of all the firm’s support functions as well as the accounts and financial reporting division.