For years it could, just about, be ignored. But no longer. The UK’s largest practices are being forced to consider a seductive, provocative, explosive question that strikes right to the heart of a law firm and what it means to be a professional: have they considered an initial public offering (IPO)? By now, of course, …
Continue reading “No free lunch – Will law firm IPOs be the next big thing?”
Legal spend is the second-largest ‘cost centre’ for £21bn global banking giant Barclays. This tantalising statement is in the bank’s 2018 Request for Quotation document, sent to law firms ahead of its final panel review this year and seen by Legal Business. The document provides detail on what Barclays describes as this ‘sizeable’ legal spend. …
Continue reading “Point break – The extreme measures of Barclays’ adviser review”
TLT has created a £500,000 investment fund to help test technology and other ideas more quickly before providing them to clients. The initiative, called Future Law, is expected to generate revenue this year and will be led by digital sector head James Touzel. The firm has ring-fenced the fund as part of its budget for this …
Continue reading “‘Legal catching up’: TLT launches £500k fund to improve tech and consulting lines”
Osborne Clarke (OC) has elected incumbent UK managing partner Ray Berg (pictured) to a second term in a ‘glowing endorsement’ of the firm’s growth. But he has cautioned there is still plenty to achieve in ensuring OC was adaptable to tougher times ahead.
DLA Piper international managing partner Simon Levine has been re-elected for another four years following an uncontested election. Levine’s reappointment was confirmed today (8 October) after nominations for any challengers closed on Friday (5 October).
DWF’s recent eye for international expansion has been extended to the US through an exclusive association with Los Angeles-based Wood, Smith, Henning & Berman (WSHB). WSHB is much smaller than DWF, with revenue of just $81m and 56 partners across 22 offices in the US, but DWF managing partner and chief executive Andrew Leaitherland says the …
DLA Piper’s partnership is headed to the polls again for its managing partner election, less than a year after eight partners competed in the firm’s first contested senior partner election in a decade. Incumbent managing partner and co-chief executive of the global giant, Simon Levine, is standing for re-election. Nominations for candidates close Friday 5 …
Continue reading “Levine bids for second managing partner term as DLA kicks off election”
US legal services provider UnitedLex has landed a $500m war chest to capitalise on a ‘multi-billion dollar opportunity’ after private equity giant CVC Capital Partners acquired a majority stake in the business. UnitedLex has grown to more than 2,700 lawyers, engineers and consultants since it launched in 2006, providing legal services to clients across 18 …
DWF has added 18% to its top line as the thrusting national operator gears up to become the largest UK law firm float yet. Revenue at the top 25 firm for the year to 30 April, announced today (13 September), was £236m, up from £199m last year. The firm also said profit per equity partner (PEP) …
Continue reading “DWF revenue jumps to £236m ahead of stock exchange float”
Consolidation, planning, investment and ‘cautious optimism’ proved dominant themes for the smaller regional and national firms in this year’s Legal Business 100 (LB100). The 31 non-City firms in the 51-100 bracket grew steadily amid a slow summer and dip in confidence during the 2016/17 financial year. Last year, however, the group’s collective revenue only managed …
Continue reading “LB100 Second 50: Regional view – Comfortably numb”
