Mergers, Moves & Momentum: From Metro Bank Rumblings to Big Law Reshuffles

23rd June, 2025

British bank Metro might be prepping for a shake-up as its biggest shareholder considers an exit. Meanwhile, Browne Jacobson hits a record-breaking year, and Herbert Smith Freehills Kramer makes a power move in London. Elsewhere, Xiaomi preps for an EV debut, and law firm Latham scores a rare Wachtell defection. All this and more in today’s read-and-eat.

Major Headline 

• Metro’s biggest shareholder open to selling stake, sources say

  
  

• Metro Bank’s largest shareholder, Colombian billionaire Jaime Gilinski Bacal, is reportedly open to selling his 52.87% stake in the British lender. Gilinski, who took control during Metro’s £325M recapitalization last year, has fielded interest from several investors, sources told Reuters. Among them: private equity duo Pollen Street Capital and BC Partners, who reportedly backed out after valuation disagreements. A merger with another lender remains on the table, with Shawbrook seen as a potential suitor. Shares of Metro have surged 140% since October 2023 but still sit well below their 2018 highs. The bank recently returned to profit and is forecasting stronger returns through 2027 as its treasury assets reprice into higher yields. Reuters

  
  

• Xiaomi to reveal YU7 SUV prices at June 26 event

  
  

• Xiaomi CEO Lei Jun announced that the company will hold a launch event for its new YU7 electric SUV on June 26. Pricing and pre-orders are expected to be revealed. The YU7 marks Xiaomi’s second EV model as the tech firm continues to expand into the electric vehicle market.  Reuters 

  
  

• Browne Jacobson posts record £137M revenue amid strategic UK-Ireland expansion

  
  

• Browne Jacobson has notched a record-breaking year, reporting £137 million in revenue for FY25—up 16% from last year and marking its fourth consecutive year of double-digit growth. The UK-headquartered law firm has been scaling its UK and Irish footprint, completing 13 lateral partner hires, including a five-person team from EY Legal to strengthen its tech practice. It also advised on high-profile transactions such as WH Smith’s sale and The Range’s Homebase acquisition. Browne Jacobson is doubling down on legal tech, piloting platforms like Harvey and Thomson Reuters’ CoCounsel. The firm also overhauled its parental leave policy to offer up to 26 weeks—part of a broader strategy to merge operational growth with culture-driven innovation. Browne Jacobson

  
  

• Herbert Smith Freehills Kramer hires Ashurst real estate disputes head in UK push

  
  

• Herbert Smith Freehills Kramer has tapped Alison Hardy to lead its Real Estate Dispute Resolution practice in London, bolstering its capabilities in commercial property litigation. Hardy, who joins from Ashurst, is a Band 1-ranked lawyer in Chambers and Legal 500, and brings deep experience in development disputes, insolvency, and joint venture conflicts. She also serves on the British Property Federation’s Insolvency Committee. The hire marks a strategic move by HSF Kramer to further solidify its presence across the UK, Australia, and New York real estate markets, where it continues to position itself as a dominant global force in disputes. Herbert Smith Freehills Kramer

  
  

Minor Headline

• New Zealand’s ‘golden visa’ attracts U.S. investors – Reuters 

  
  

• Tesla launches robotaxi rides in Austin amid hype and doubt –  TechCrunch 

  
  

• Katie Haun emerges as stablecoin evangelist in DC battles –  TechCrunch 

  
  

• Senate clears hurdle for AI regulation moratorium – TechCrunch 

  
  

• LinkedIn CEO says AI writing assistant underperforms expectations – TechCrunch 

  
  

• Ex-Orrick associate suspended for misconduct –  Non-Billable

  
  

• Meta reveals its Oakley smart glasses - TechCrunch

  
  

• Bitcoin falls 4% to $99,237 –  Reuters

  
  
  
  

  Gen Z Word of the Day: Simp

  
  

  Meaning: Someone who does way too much for someone they like, especially in a one-sided romantic or attention-seeking way.

  
  

  Example: “He bought her a $300 dinner after one DM reply. Bro’s deep in simp territory.”