Carey Olsen’s position as a leading offshore law firm in the Channel Islands for financial and corporate and investment funds work has been confirmed following the publication of the latest International Financial Law Review (IFLR) 1000 rankings.
In Guernsey the firm has maintained its top tier position in both categories for the fourth year running following “another strong year of transactional work”. This year has also seen the firm's Jersey rankings move into the top tier as the firm “continues to build its market share in Jersey impressively across both financial and corporate and investment funds with clear strengths in M&A and fund launches.”
The rankings note that, in addition to positive feedback from its own clients, Carey Olsen was also the firm referenced most often as the chosen alternative by other market sources if their primary counsel was unavailable with “bench strength and expertise in listed funds” highlighted as particular qualities. One client reported: “What stands out for us is the level of engagement at partner level which isn’t always seen or in evidence across the other firms that we work with.”
Client feedback praised the firm for its strong understanding of London capital markets matters and noted how “the advice given on local law also takes into account what is needed from a regulatory perspective” which is a valuable feature of Carey Olsen’s legal service.
Carey Olsen’s work during the period under review included the acquisition of Raleigh Cycle by the Accell Group, advising Mountgrange and Patron Capital on the acquisition of a property portfolio from Henderson Global Investors, advising FRM Holdings on its sale to Man Group, acting for Petrofac on a $1.2 billion revolving credit facility, work on the funds initial public offerings (IPOs) for ICG-Longbow and TwentyFour Asset Management as well as advice on the conversion of the Baring Vostok feeder fund into a protected cell company. The firm's work with industry body Guernsey Finance to promote the jurisdiction to foreign clients was also noted.
Leading lawyers and rising stars in Guernsey included partners Christopher Anderson, Andrew Boyce, Graham Hall, senior associate Andrew Tually and associate Alex Mauger who all work across finance and corporate and investment funds. Senior Associate Andrew Tually is described by clients as “excellent and accessible” and Alex Mauger is “responsive and hardworking and delivers on his promises.” The publication also includes partners Tom Carey and Ben Morgan among key figures within the firm's Guernsey office.
In Jersey, leading lawyers include partners Alex Ohlsson, Alan Stevens, Mike Jeffrey, Nicholas Crocker and Robert Milner as well as senior associate James Fox. Nicholas Crocker is recognised by clients who “found him to be very helpful and user-friendly, such that we don’t tend to use other Jersey firms for banking work, Nicholas is certainly our first choice.” Alan Stevens’ “unrivalled experience” highlights his expertise in debt and convertible bond work. According to the publication, key figures in Carey Olsen's Jersey office also include Paul Sugden for banking work and James Mulholland and Daniel O'Connor who are recognised for their private equity work.
Carey Olsen in the British Virgin Islands, which recently rebranded from Hempel and Boyd, has also been recognised for the first time by the directory and was ranked in tier four for the financial and corporate category. Hempel and Boyd was established in 2012 and IFLR1000 noted that, in that short time, the firm has managed to establish itself as “a go-to firm for complex matters.”
Founding partners Greg Boyd and Clinton Hempel have a combined 22 years of BVI legal experience between them and have developed a loyal client base that value their expertise and knowledge in the field. A US client explained that "they are very responsive, their fee structure is reasonable and they produce the same quality as the bigger firms.” Clinton Hempel has been recognised by the publication as a leading lawyer for this jurisdiction.
Graham Hall, senior partner and head of corporate and finance in Guernsey, said: “Our top tier status in Guernsey and Jersey, and the inclusion of our BVI office for the first time within two years of establishment, demonstrates the continuous improvement and high level of excellence on offer at Carey Olsen in partnering with our clients. This positive endorsement further validates our market position and is a credit to the hard work and talent of our people.”
The IFLR1000 is a definitive guide to the world’s leading financial law firms and is based on an extensive independent research process which includes questionnaires and interviews with the featured firms, client and competitor feedback and market analysis from the past 12 months.