Allen & Overy LLP is at the forefront of the advice to financial institutions on their most complex and sensitive remuneration issues, including senior executive incentive arrangements. It is also a first port of call for many publicly listed and privately owned UK and international companies. Paul McCarthy's expertise in employee equity incentives includes their design, the tax and cost implications, shareholder communication, corporate governance and best practice. In addition to providing standalone advice, he advises on share plan issues arising from IPOs and M&A. The practice particularly stands out in the context of global share schemes; its ability to work with members of the tax, securities, employment, corporate and regulatory practices enables it to provide a first-rate service. McCarthy works with senior associate Louise Batty.

Clifford Chance LLP fields a specialist incentives and remuneration team, which undertakes a mix of strategic advisory work and corporate support on high-end transactions. The practice is characterised by its involvement in matters with an international dimension; senior associate Becky Moore has expertise in the operation of global incentives. Other notable members of the group are Andrew Patterson and Catrin Wright, both recent hires from Barclays Plc, who have further strengthened the firm's expertise in remuneration issues in the financial services sector. Practice head Sonia Gilbert chairs the Financial Services Group of ifs ProShare, an industry body supporting employee share ownership. She also sits on the executive committees of two other industry bodies which help shape employee share ownership policy in the UK – the Employee Share Ownership Centre and Share Plan Lawyers.

Herbert Smith Freehills LLP's multi-disciplinary team offers excellent coverage of all aspects of share schemes and incentives, which sees it generate work from a sizeable client base of UK and international listed and private companies; Paul Ellerman has a strong track record of establishing a wide range of cash-based and share-based incentive plans. Ellerman is also a co-head of the firm's corporate governance practice, which assists clients with drafting and reviewing remuneration reports and advises on the remuneration aspects of the Corporate Governance Code, among other matters. The firm acts for clients across a wide range of sectors, with a notable specialism in the financial services industry; Mark Ife has specialist expertise in financial services remuneration. Kiran Khetia recently joined as of counsel from Hogan Lovells International LLP. Bradley Richardson moved to Linklaters LLP.

Linklaters LLP's 12-strong specialist incentives team provides standalone advice and transactional support to a large number of FTSE top 20 and FTSE 100 companies, top 20 global investment banks and global asset managers. The group, which is led by Alexandra Beidas, has a wealth of expertise in directors' pay, where advice is centred on issues such as the design and disclosure of directors’ remuneration, and the conduct of remuneration committees. It also provides support to global companies on the operation of their global share plans. Managing associate Cara Hegarty has over ten years’ experience of advising on the design and implementation of executive and all-employee incentive arrangements, and pay reporting requirements. In a recent development, Bradley Richardson joined as counsel from Herbert Smith Freehills LLP.

Slaughter and May bolstered its employee share schemes team in 2018 by hiring Ian Brown as a senior counsel from Deloitte LLP. The group advises on the full range of executive remuneration and employee share scheme issues, including the establishment, operation and amendment of employee incentive plans. It also assists clients with managing the operation and amendment of their directors’ remuneration policies. The team is also noted for advising clients on reviewing their policies and procedures in the light of a new requirement for executive directors to retain a level of shareholding post-termination. In addition to providing advice on a standalone basis, practitioners handle the employee incentives aspects of a broad range of major transactions, including public takeovers, IPOs (main market and AIM), secondary capital raisings, demergers, private M&A and other corporate transactions. Phil Linnard, Padraig Cronin and associate Rosemary Nelson are recommended. Jonathan Fenn retired.

Boutique firm Tapestry Compliance is ‘uniquely placed to provide tailored and concise advice on all aspects of global share plans’. The team provides expert knowledge on all aspects of global executive and employee share plans and is distinguished through its international client base and industry-leading understanding of the financial services sector. Janet Cooper OBE is a specialist in diversity and gender considerations in share plans while Bob Grayson is active on all aspects of global compliance for plans, nominee arrangements, trusts and other hedging arrangements. The pair head the practice together with recently promoted legal director Hannah Needle, who demonstrates a proven track record in handling tax advantaged and non-tax advantaged arrangements. At the junior end, associates Matthew Hunter and Carla Walsham tailor their practices towards remuneration regulation compliance and a broad range of executive and employee incentives matters, respectively.

Travers Smith LLP provides its clients with in-depth analysis of the technical tax aspects of employee incentives in addition to relevant governance, trust, employment, corporate and securities law considerations. The practice is well versed in the designing, drafting and implementation of a broad array of incentive arrangements and is increasingly advising on corporate governance matters including remuneration policies. Mahesh Varia heads the department, which represents publicly traded and private equity-backed companies from a range of industry sectors on both a domestic and international scale. Other key names in the team include Elissavet Grout, a specialist in the employee incentive aspects of corporate transactions, and Kevin Donegan, who is a share schemes practitioner.

Known for its ‘understanding of UK schemes and the law surrounding them’, Baker McKenzie is also active on cross-border transactions, international share plans, and senior executive remunerations, in addition to providing commercial and tax advice. Practice head Jeremy Edwards advises on all aspects of employee share plans and executive compensation, and has a strong reputation for advising London Stock Exchange-listed companies on the structure and disclosure of remuneration for directors and senior executives. His team includes associate Gillian Murdoch, who assists UK and multinational companies with the design, implementation and administration of their share plans.

Fieldfisher’s team of ‘acknowledged experts’ delivers ‘experience-based assessments’ and is jointly headed by Graeme Nuttall OBE and Mark Gearing. Its core strengths include helping long-established employee-owned businesses to maintain their structure, and assisting start-ups and growing companies with employee ownership, tax-advantaged share plans, US-based inward investment into Europe and constitution creation. Clients from a wide range of sectors engage the group, such as mining, media and technology, and life sciences entities. Senior associate Tamsin Nicholds recently arrived from Hogan Lovells International LLP and is recommended for corporate governance matters.

Freshfields Bruckhaus Deringer LLP's practice covers advising on share scheme and executive renumeration arrangements and corporate governance issues. The firm counts a number of FTSE 100 and FTSE 250 companies among its clients. Key contacts include Alice Greenwell, who regularly advises on establishing new share plans, including executive plans and international all-employee arrangements, and Nicholas Squire, who is experienced in multi-jurisdictional matters.

Ashurst specialises in advising on the incentives aspects of complex corporate transactions across multiple industries and jurisdictions, as well as acting for plc clients on issues relating to remuneration concerns. The firm is also experienced in preparing clients for remuneration governance changes. Senior consultant Nicholas Stretch joined from CMS in 2019 and leads the practice. He advises on the incentives aspects of corporate transactions as well as on the design and implementation of incentive arrangements for executives and employees. His team advised oil and gas exploration and production company Serica Energy plc on its acquisition of BP's interests in various North Sea oilfields and associated infrastructure.

CMS has experience in a range of matters including employee benefit trust terms and issues relating to cross-border M&A, as well as corporate governance and regulatory issues relating to employee share schemes. Notable in this area are Graham Muir, Andrew Quayle, whose clients include FTSE 100 companies, smaller private companies and start-ups, and of counsel Catherine Merry. Nicholas Stretch left the firm to join Ashurst in 2019.

Eversheds Sutherland (International) LLP focuses on acting for FTSE 100 and Fortune 100 companies, advising on rewards and incentives. The firm has particular expertise in relation to implementing and advising upon employee incentive schemes in multiple jurisdictions. Practice head Mathew Gorringe is a cross-border specialist and is known for taking the lead on rolling out schemes in various jurisdictions, as well as guiding companies through the laws of local jurisdictions to facilitate this.

Macfarlanes LLP advises on a range of employee share plans and incentive arrangements, providing expertise in related areas including employment, tax, trust law, corporate governance and remuneration regulation. The firm has experience in design, implementation, roll-out and operation, as well as increasingly acting on financial services remuneration. ‘Strong practice head’ Robert Collard specialises in employee share schemes and incentives and has ‘a deep knowledge of the law’. His team includes senior counsel Rasmus Berglund, who arrived from Linklaters LLP in 2018 and focuses on UK and international employee incentives and Senior Solicitor Saba Palizi, who arrived from Latham & Watkins in 2018 and specialises in employee benefits.

Mishcon de Reya LLP's team has a strong track record of advising high-value entrepreneurial and private equity-backed organisations, particularly in the TMT sector, on novel incentive arrangements. The group also has experience designing incentive structures for real estate-sector businesses structured through a mixture of partnership and corporate entities. Other areas of expertise include corporate transactions and regulatory advice. Department head Stephen Diosi has expertise in all aspects of the strategy, design, implementation and compliance of UK and global employee incentive arrangements. Associate Caroline Nye-Wilkins acts for businesses in the financial services, entertainment, social media and transport sectors.

The ‘creative, dynamic and client-centric’ Norton Rose Fulbright is known for its strategic and international advice to listed multinationals, as well as providing expertise in designing and implementing bespoke incentive plans in unlisted companies. The firm also has expertise in cross-border work, notably in the US. The ‘incredibly responsive’ Matthew Findley leads the practice and has experience in executive plans and all-employee arrangements, as well as dealing with employee benefits in the context of mergers and acquisitions, IPOs and demergers.

Lynette Jacobs leads the team at Pinsent Masons LLP, which was joined by legal director Fleur Benns from Bird & Bird LLP in 2018. It is noted for advising domestic and international clients on share incentive arrangements, often over several jurisdictions. The group also assists with the interaction between remuneration policy, share plan rules and regulatory clients in the financial services sector, as well as the day-to-day operation of employee incentive arrangements.

In addition to day-to-day advisory work, Addleshaw Goddard's team provides clients with a full remuneration service, which includes advice on governance issues, best practice, share dealings by directors and matters pertaining to internationally mobile employees. Jonathan Fletcher-Rogers heads the department; his practice covers advising on tax-efficient share incentives, the implementation of employee plans globally, and corporate governance and disclosure issues for listed companies.

Mayer Brown International LLP's equity and incentive plans team, which is led by Andrew Stanger, leverages the firm's international office network to advise clients on share schemes globally, with expertise including tax, securities, stock exchange rules, exchange control regulations and governance. The group has a particular focus on private company arrangements and arrangements in private equity structures. International work includes share plans for dual-listed companies and UK companies listed on US exchanges.

The 'great' team at Postlethwaite Solicitors Ltd stands out for its exclusive specialism in employee ownership matters. Demonstrating a high level of activity in this space, the firm handles all aspects of employee ownership transactions. Recent work included advice regarding the design and implementation of share ownership arrangements for nationally and internationally based entities, as well as regarding structuring ownership arrangements for succession, particularly by utilising the team’s highly regarded expertise in trust tax relief. Another steady stream of work for the firm comes in through instructions regarding all types of share schemes. Managing director Robert Postlethwaite (‘one of the few experts who can explain complex issues in plain language’) and the ‘flexible and approachable’ David Reuben jointly head the firm and are highly recommended. Director Toby Locke joined from Grant Thornton UK LLP in October 2018.

The employee incentives group at Simmons & Simmons sits as a part of the firm’s wider employment practice. The team advises on a broad range of matters regarding employee incentives; recent work includes advice on tax, corporate governance, employment issues, and the employee incentives-related aspects of corporate transactions. The department has expertise across multiple sectors, but places additional emphasis on the financial services industry. Managing associate Tair Hussain is a key name to note on the team, and has experience of assisting clients with share-option schemes, long-term incentive plans, and bespoke tailed arrangements, among other matters. Former practice head Ian Fraser departed to PwC LLP in April 2018.

Squire Patton Boggs is noted for its services for mid-market listed companies, larger private companies, private equity houses and management teams on all aspects of incentives. The team leverages the firm's international presence for a particular specialism in international incentives-related matters, including global companies offering share plans to employees worldwide, and non-UK companies which grant awards to selected employees in the EU and UK. The UK team is led by Liz Pierson, who also has significant experience in advising on incentives for private equity portfolio companies, and is highly recommended. Bern Gilbey retired.

At Stephenson Harwood, the employee share schemes and incentives department excels in advising a varied client roster ranging from larger listed corporations and AIM companies to financial institutions and start-ups. The team provides advice regarding share plans, corporate governance issues, and bespoke arrangements such as incentive arrangements. The group also regularly collaborates with the firm’s employment team on handling employees’ appointments and exits from companies; of recent note, practice head Barbara Allen led a cross-departmental team on advising Mark Read on his appointment as chief executive of media and advertising company WPP. Clients also single out senior associate Anika Chandra, who is another key figure on the team.

Taylor Wessing LLP’s tax and incentives department handles matters regarding the share scheme aspects of complex transactions; of recent note, the team is advising the shareholders of materials information technology company Granta Design on the sale of its share capital to ANSYS. The group is very active internationally, particularly in relation to foreign investment, and stands out for its work for a number of US-based clients. Another area of focus for the team is employment tax. Practice head Ann Casey is adept at handling all aspects of share schemes and incentive matters, and has specialist experience in advising technology start-ups. Also noted is Anna Humphrey.

The share plans and incentives strand of Bryan Cave Leighton Paisner LLP's employee benefits and executive compensation practice works closely with the firm's tax team, and has particular expertise in enterprise management incentive (EMI) schemes. Practice head David Dennison is the key UK contact. Clients include start-ups and growing companies.

The team at Charles Russell Speechlys LLP is experienced in both HMRC approved and unapproved share option plan work, including bespoke employee share plans for multinationals. The team has a specialism in advising on the introduction of UK share plans to other jurisdictions and the adjustment of overseas plans, particularly US-based plans, for UK and European operations. James Carter is the key contact. Martin Griffiths left for Addleshaw Goddard.

Cooley (UK) LLP specialises in the share incentive aspects of public takeovers, UK and cross-border private acquisitions, US mergers, UK and US IPOs, schemes of arrangement, demergers, venture capital investments and private equity transactions. The team regularly advises on the exporting of US and UK equity plans around the world and consults on tax, securities law and labour issues in over 60 jurisdictions. Paula Holland, who has over 25 years of experience in the area, heads the team; Nicola Squire is also noted.

Fox Williams LLP handles a broad range of advisory and transactional work, and specialises in advising smaller listed and private companies looking to set up complex bespoke unapproved equity incentive arrangements for key executives and senior employees within the business. These include performance and growth share arrangements, partly paid share structures, tax-efficient share options and joint share ownership plans. Emma Bailey, who focuses on providing advice to smaller listed and non-listed corporate entities and their employees, directors and shareholders, heads the team. Tax director Jo Varia joined from Freshfields Bruckhaus Deringer LLP.

Wright Hassall LLP, which specialises entirely in employee share schemes, offers advisory, implementation and compliance support on all aspects of share schemes, including traditional HMRC plans (EMI, company share option, save-as-you-earn and systematic investment plans), together with bespoke plans for key management. The team also supports a number of other professional practices on the implementation, advisory and compliance elements of share schemes work and works with a number of key accountancy and legal referral contacts. Practice head John Dormer is highly recommended, and senior associate Sebastian Salt is also noted.