MAGAZINE
January 2020 Issue
Financier Worldwide Magazine
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COVER STORY
Getting it right – the challenges of executive compensation
Executive compensation is a complex and deeply emotive subject. In the current regulatory climate, the salaries, bonuses and incentive packages offered to the C-suites of publicly traded companies are subject to heavy scrutiny and can be difficult to…
FEATURES
FIRRMA: exploring new CFIUS proposals
Much anticipated, and in the view of many, long overdue, the Foreign Investment Risk Review Modernization Act (FIRRMA) was signed into law by president Donald Trump on 13 August 2018, with an expectation that it would have a profound impact…
Engaging investors: PE leverages ESG to maximise value
Environmental, social and governance (ESG) issues are increasingly at the forefront of decision making for institutional investors. In the private equity (PE) arena, this is especially so, with PE firms under pressure to make their portfolio companies’ ESG…
Challenges of private infrastructure investment
Infrastructure is a vital driver of economic growth in both developed and emerging markets. Yet, many markets lack functioning and productive infrastructure networks. One of the main reasons for this is a lack of adequate funding. According to the…
Exploring EU protections for whistleblowers
Whistleblower protection in the European Union (EU) is fragmented across Member States. At present, only 10 EU countries have a comprehensive law protecting whistleblowers and at EU level, such legislation exists in only a limited number of sectors, primarily…
Quest for the best: managing the talent pipeline
Talent, it has been said, is everything. With great companies built on the back of exceptional talent, ensuring that a pipeline of such talent is regularly replenished is of profound importance. So, how should a company construct a talent pipeline? What essential constituents…
ROUNDTABLE
THE PANELLISTS: Great Gu, Amgen; David Navetta, Cooley LLP; Scott Weber, DLA Piper LLP (US); Matthew McCormack, GSK; Nassos Oikonomopoulos, HSBC; Gerald Reddig, Nokia; and April Doss, Saul Ewing Arnstein & Lehr.
Across every industry sector, the magnitude of the cyber security threat is increasing dramatically. Every organisation with employees and computers is vulnerable. The fundamental question is the level of vulnerability and preparedness. To improve…
SPECIAL REPORT
Q&A: Arbitrating trade secret disputes
FW moderates a discussion on arbitrating trade secret disputes between John M. Williamson at Finnegan, Henderson, Farabow, Garrett & Dunner, LLP, Steven M. Levitan at Hogan Lovells US LLP, James R. Ferguson at Mayer Brown LLP and P. Anthony Sammi at Skadden, Arps, Slate, Meagher & Flom LLP.
Setting global licence rates for standard essential patents: will the UK take centre stage?
Kirkland & Ellis Standard essential patents (SEPs) are patents that have been declared by the patent holder to be essential to technologies that have been incorporated by standards setting organisations (SSOs) into technological standards, such that a party that implements…
Entitlement of employees to additional compensation for patented inventions
Charles Russell Speechlys LLP In October, the UK’s Supreme Court handed down a decision of importance to businesses whose employees develop new, patentable inventions and particularly for those whose research and development (R&D) is carried out in group companies…
A year in review: what businesses can learn from 2019’s UK copyright judgments
Pinsent Masons LLP These are challenging times for many businesses, but in a climate of economic uncertainty a healthy portfolio of intellectual property (IP) rights becomes even more important than usual. IP rights can help a business stand out in a crowded marketplace by…
The value of registered trademarks to a business
Brandsmiths On 1 January 1876, the first UK registered trademark was entered onto the trademark register with reference number ‘1’. The mark was the Bass Brewery logo. The logo has remained on the register ever since and is still in force to this day as the mark…
TALKINGpoint
Transitioning from CFIUS pilot program to full FIRRMA implementation
FW discusses transitioning from the CFIUS pilot program to full FIRRMA implementation with John Lash at Control Risks and Stephanie L. Connor at Gibson, Dunn & Crutcher LLP.
FW discusses tax risks in M&A with Justin Pierce Berutich at Euclid Transactional, LLC.
Restructuring and bankruptcy challenges in the automotive sector
FW discusses restructuring and bankruptcy challenges in the automotive sector with David Bryan at BM&T, Fred L. Hubacker at Conway MacKenzie, Inc, and Thomas Steinberger at PwC.
Outlook for life settlement funds in 2020
FW discusses the outlook for life settlement funds in 2020 with Corwin Zass at Actuarial Risk Management, Ltd.
FW discusses the transition from LIBOR with Serge Gwynne, Jenny Tsim, Adam Schneider, Paul Cantwell and Peter Reynolds at Oliver Wyman.
DEALfront
mergers & acquisitions
SoftBank secures WeWork takeover
Japanese multinational conglomerate Softbank group is to invest more than $10bn in beleaguered US office-sharing start-up WeWork. The investment includes $5bn in new financing and the launching of a tender offer by SoftBank of up to $3bn…
MGM sells Las Vegas properties for $5bn
In a joint venture (JV) transaction that will see iconic Las Vegas properties change hands, Blackstone Real Estate Income Trust (BREIT) is to acquire the Bellagio real estate from MGM Resorts International for $4.25bn in a sale-leaseback transaction…
private equity & venture capital
Thoma Bravo acquires Sophos for $3.8bn
Private equity firm Thoma Bravo is to acquire cyber security firm Sophos for around $3.8bn. The deal, which is expected to close in the first quarter of 2020, pending shareholder approval and a number of closing conditions, will see Sophos shareholders receive…
AECOM acquired by Lindsay Goldberg and American Securities for $2.4bn
In a transaction which creates a standalone services provider dedicated to helping governments solve their most pressing challenges, private equity (PE) firms Lindsay Goldberg and American Securities LLC are to acquire the management services business…
bankruptcy & corporate restructuring
EP Energy files for Chapter 11 bankruptcy
In pursuit of a financial restructuring, US oil and gas producer EP Energy Corporation has voluntarily filed petitions for Chapter 11 reorganisation in the US Bankruptcy Court for the Southern District of Texas. EP Energy intends to use the Chapter 11 process…
Forever 21 files for Chapter 11 bankruptcy
Forever 21 has become the latest high-profile retailer to file for Chapter 11 bankruptcy protection. The California-based company filed for bankruptcy protection in the US Bankruptcy Court for the District of Delaware, listing both assets and liabilities…
SPOTlight
The power of blending forensic accounting and corporate intelligence skills in fraud investigations
BDO LLP Forensic accounting and corporate intelligence skills have both long been essential elements of any effective investigation of suspected fraud or other malfeasance. In the public eye, the importance of the second of these disciplines is frequently underestimated…
Charles River Associates In much of the discussion of renewables as part of the energy mix, the argument often focuses on the unreliable or intermittent nature of these different sources of energy. While at one stage it was true that renewables would not work as firm capacity…
CONTRIBUTORS
Actuarial Risk Management, Ltd.
Amgen
BDO LLP
BM&T
Brandsmiths
Charles River Associates
Charles Russell Speechlys LLP
Control Risks
Conway MacKenzie, Inc
Cooley LLP
DLA Piper LLP (US)
Euclid Transactional, LLC
Finnegan, Henderson, Farabow, Garrett & Dunner, LLP
Gibson, Dunn & Crutcher LLP
GSK
Hogan Lovells US LLP
HSBC
Kirkland & Ellis
Mayer Brown LLP
Nokia
Oliver Wyman
Pinsent Masons LLP
PwC
Saul Ewing Arnstein & Lehr
Skadden, Arps, Slate, Meagher & Flom LLP