Number of firms granted licences by SRA hits 2012 levels The number of firms granted alternative business structure (ABS) status in 2013 has now hit the same level as for the whole of 2012, as Shakespeares became the latest mid-tier outfit to announce it has been granted a licence in mid-May. Shakespeares was the 72nd …
Continue reading “Birmingham’s Shakespeares becomes 72nd ABS of 2013”
Addleshaw Goddard today (31 May) became one of the first major UK law firms to announce its 2012/13 financial results, confirming that revenue has dipped by 2% to £167m against its previous financial year. The top 25 UK law firm saw profits per equity (PEP) partner edge up 2% to £457,000. Despite the generally subdued …
Continue reading “Reports season 2013 – Addleshaws sees income slide but holds profits steady”
The steady stream of job cuts seen through May continued this week with the rapidly-assembled national player DWF confirming it has put around 80 roles at risk in a review of the business. The move comes only two months after a previous consultation put 99 jobs under threat following DWF’s recent run of five acquisitions …
It was the most controversial piece of legislation aimed at corporates to emerge in the last decade and, in a slow news week at least, the Bribery Act is still generating headlines amid signals that the government is flirting with watering down the anti-corruption law. A report in the Financial Times indicates that a review …
While national leaders have lavished attention on their international and City practices in recent years, a handful of mid-market regional players have made a dramatic attempt to seize chunks of their ill-defended domestic empires. Legal Business looks at five of the most likely challengers Let’s be plain – these law firms had been written off. …
Continue reading “Pretenders to the throne – the regional players with national ambition”
The past week saw a clutch of firms including Kennedys, Olswang, King & Spalding and Sullivan & Cromwell make key partner hires as US firms’ assault on the City continues apace. King & Spalding launched its London trade practice on 20 May 2013 with the hire of Bird & Bird head of international trade and …
Ashurst is leading on two headline deals announced this week as Germany’s Commerzbank enters talks to sell a £4bn UK loan portfolio and Wm Morrisons signed a potentially market changing agreement with online grocer Ocado. The top 15 UK firm is advising longstanding client Commerzbank on the proposed sale of its Eurohypo UK operation to …
Continue reading “Headline Deals: Ashurst takes lead for Commerzbank and Morrisons”
The number of firms granted alternative business structure (ABS) status in 2013 has now hit the same level as for the whole of 2012, as Shakespeares last week became the latest mid-tier outfit to announce it has been granted a licence. Shakespeares was the 72nd firm to obtain a licence in 2013, the same number …
The increased importance of Turkey as strategic hub for international firms has been underlined with news that US firm Edwards Wildman Palmer is to open an office in Istanbul in association with local M&A and private equity boutique Ismen Law Firm. The date of the opening will depend on regulatory approval by the Istanbul Bar …
Continue reading “Edwards Wildman joins the ranks of international firms in Istanbul”
It’s been a busy week at Bar but not necessarily for the right reasons. While the Bar Council has appointed its first chief executive in two years, 39 Essex Street has announced it is to take a year out from recruiting pupils for following its merger with 4-5 Gray’s Inn last year. Meanwhile, controversial comments …
