Latham & Watkins London Partner Exits To Launch Boutique

A Latham & Watkins London employment and tax partner has left the firm in order to set up his own boutique.

Stephen Brown, who previously served as the vice chair of the firm’s global tax practice, is establishing a new firm called Icon Law, Brown confirmed. 

Business filings for the new LLP firm were listed in December on the U.K’s companies house registry. The firm will formally launch in the coming weeks, a person with knowledge of the situation said. 

Speaking about his new venture, Brown said: “I was Latham & Watkins’ first employment lawyer in London back in 2003, and I’ve enjoyed every minute of my time there.

“Icon Law gives me a chance to develop a unique focus entirely geared to the needs of private equity. The ambition is to create the destination practice for executive employment and management equity and incentives from day one.”

Brown has been a partner at Latham for almost two decades, having joined the firm from legacy McGrigors in 2003.

He specialises in equity-based incentive arrangements, including the tax, securities, corporate law, and has worked with clients including the Carlyle Group, Lloyds Banking Group and Diageo, according to his former Latham profile.

As well as serving as vice chair of Latham’s global tax practice from 2018 to 2019, he was also chair of the firm’s European benefits, compensation and employment group, according to his LinkedIn profile.

Latham has expanded its London bench during the past year. Early last year, it took on Freshfields Bruckhaus Deringer partner Sam Newhouse while more recently it added private equity star Paul Dolman from Travers Smith. 

Latham did not respond to requests for comment.

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