Clifford Chance has become the second Magic Circle firm to post encouraging 2021/22 financials, announcing today (19 July) an 8% rise in revenue to £1.969bn. Partnership profit and profit per equity partner (PEP) were both similarly encouraging. Profit swelled by 9% to £783m, while PEP passed £2m for the first time, reaching £2.04m after a …
Lateral activity had an international flavour this week, as firms announced new arrivals across Europe, the US and Africa. Macfarlanes has announced Sophie Donnithorne-Tait as the latest addition to its London tax practice. Capable in all aspects of UK corporate tax and with a specialism in advising investment fund clients, Donnithorne-Tait moves from Akin Gump …
Simmons & Simmons today (13 July) unveiled a solid revenue increase of 6% to £465m for the past financial year, combined with an 8% rise in profit to £185m. Profit per equity partner (PEP) also rose, topping the one £1m mark for the first time.
‘I haven’t seen progress like I’ve seen it in the last 18 months or so at any point in my career,’ proclaims Harold Brako, head of Addleshaw Goddard’s Manchester office. ‘It’s been fuelled by a number of reasons, not least the Black Lives Matter movement and George Floyd.’ In June 2019, when Legal Business last …
Continue reading “The ESG report – Diversity and inclusion: A false start?”
Spring seems to have brought out the globetrotting spirit among American law firms, with Cravath, Swaine & Moore, Kirkland & Ellis, Winston & Strawn and Quinn Emanuel Urquhart & Sullivan all announcing plans for ambitious office launches in recent weeks. The headline investment was Cravath’s commitment to a new office in Washington DC. The move, …
‘There was a significant and much welcome upward trend in dealmaking from June 2020 up to the end of last year,’ reflects James Scicluna, co-founder of WH Partners. ‘On the M&A side of things, there’s just been one thing after another.’ Data from the European Commission (EC) would suggest that Malta enjoyed a 2021 characterised …
Continue reading “Malta focus: Grey skies turn to blue – the Malta report”
Big deals in agriculture, social care and fintech have stood out in the market in recent days, with leading US and UK-headquartered firms scoring lead mandates. The irrigation sector saw consolidation with the merger of Temasek-owned Rivulis and publicly-listed Jain Irrigation in a cash and stock transaction. The combined entity will be a global force …
Squire Patton Boggs (SPB) has become the latest firm to wade into the thorny environmental, social and governance debate, unveiling a UK ESG strategy with a pledge to hit net zero carbon emissions by 2035. The Cleveland-headquartered firm, which has UK offices in London, Leeds, Manchester and Birmingham, is targeting a 15% reduction year on …
In its tercentenary year, Legal Business 100 firm Boodle Hatfield has announced revenues of £30.7m for 2021/22, up 4% from £29.4m the previous year. The latest figures continue the firm’s recent upward trajectory. Since 2016, the private wealth and real estate focused firm has recorded an average annual revenue increase of 5.5% and a 14% …
High-profile deals in the insurance, real estate and software sectors have been keeping advisers busy this week, as leading US and UK firms advised on high-profile mandates. The trend of increasingly ambitious private credit deals broke new ground in recent days, as a host of City firms advised on the refinancing of The Access Group. …
