Europe’s largest and one of its most highly divided economies, Germany has put many law firms’ strategy to the test and today (25 February) Sidley Austin announced that it has placed its Frankfurt office under review following a number of partner departures. The Global 100 top 15 firm’s announcement – which follows the decision by Shearman …
David Stevenson assesses Shearman’s hopes of regaining its potency ‘The work that’s been done over the last few years is bearing fruit. Like a tree blossoming,’ observes Laurence Levy, head of European M&A at Shearman & Sterling. Long-time Shearman watchers have, of course, become familiar with variations on the revival rhetoric that Shearman has used …
Partasides and Petrochilos to join former colleague Jan Paulsson Breakaway arbitration boutiques are increasingly common but they rarely have the gravitas of the latest entrant, as Freshfields Bruckhaus Deringer’s London international arbitration group head Constantine Partasides last month resigned alongside Paris-based partner Georgios Petrochilos, to form a heavyweight trio alongside former co-arbitration head Jan Paulsson. …
Continue reading “Arbitration heavyweights resign to form boutique”
US leaders grind out growth in 2013 despite ‘anaemic economy’ Despite having to contend with what Latham & Watkins’ outgoing global chairman Bob Dell described to Legal Business as a still ‘anaemic economy’ last year, early results among the US law firms to disclose their 2013 financials are solid, with many forecasting a return to …
Moore becomes first lateral hire in firm’s 125-year history It had been well telegraphed but even so news that Slaughter and May was making the first lateral hire in its 125-year history to add US securities capability to its Hong Kong arm was enough to send a minor jolt through the global legal profession. Slaughters …
Continue reading “Slaughters adds US capability in Hong Kong as best friends become rivals”
I don’t believe people that do well have an unerring right to succeed and it’s entirely down to their own abilities. Loads of incredibly able people don’t hit the right spot. I was very lucky that I started working as a lawyer doing something that I turned out to be good at. I could easily …
Chicago-headquartered firm McDermott Will & Emery has continued its post-financial crisis recovery, unveiling a 3.5% increase in revenue to $881m, as close US rival in revenue terms, King & Spalding sees its turnover increase by 4% to $861.4m. McDermott’s net income also grew in 2013, with a 7% increase to $297m, fuelling an increase in profit per equity …
Continue reading “US results season 2013: McDermott and King & Spalding post 4% increase in revenue”
Even for rapidly globalising law firms, the market remains challenging, it seems. Financial results for K&L Gates show the US law firm continuing to expand its global footprint in 2013, unveiling a 9.3% hike in revenues to hit $1.16bn, but also struggling to improve profitability for the second year in a row. The growth is …
Continue reading “Global growth for K&L Gates but profits edge down in 2013”
It was a performance that the Wall Street thoroughbred badly needed and at last Shearman & Sterling has proved its many doubters wrong to unveil a 9.1% hike in revenues and a double-digit percentage increase in partner profits for its 2013 year. Under the first full year of the leadership of senior partner Creighton Condon, the …
Still basking in London in the news that it has hired leading Clifford Chance (CC) private equity partner Kem Ihenacho, Latham & Watkins yesterday (19 February) released moderate US growth figures for 2013, with revenue up by 2.7% to $2.29bn. Profit per partner has increased by almost 2% to $2,490,000, up from $2,443,000 the previous financial year. …
Continue reading “US financial results 2013: Latham sees moderate growth in PEP and revenue”
