White & Case nears $3bn mark as expense control drives double-digit PEP hike

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White & Case nears $3bn mark as expense control drives double-digit PEP hike

White & Case has taken another step towards the $3bn turnover mark, posting a 4.3% increase in global revenues to $2.95bn for 2023, despite London turnover dipping 1.6% to $444m. The international firm saw global revenues rise from $2.83bn in 2022, when London turnover stood at $451m. Profit per equity partner (PEP) increased by 12.7% …

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Changing of the guard: DLA Piper elects next managing partner

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Changing of the guard: DLA Piper elects next managing partner

DLA Piper has today (23 February) announced the election of Charles Severs as its next managing partner. His tenure will begin on 1 January 2025. Severs moved to DLA Piper as a partner in 2003 from Herbert Smith Freehills.  A Legal 500 Hall of Famer for M&A: Lower Mid-Market Deals, Severs has an impressive client …

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Revolving Doors: A&O bolsters City structured finance team with Milbank hires

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Revolving Doors: A&O bolsters City structured finance team with Milbank hires

Leading this week’s high-profile moves, Allen & Overy has appointed John Goldfinch as a partner in its global structured finance practice in advance of its planned merger with Shearman & Sterling. Previously at Milbank, Goldfinch has experience dealing with derivative products and securitisation asset classes including CLOs and CDOs (cash and synthetic), lease receivables, trade …

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Financial Regulatory and Disputes Summit: Stranger than fiction

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Financial Regulatory and Disputes Summit: Stranger than fiction

Even amid a stellar agenda at Legal Business’ Financial Regulatory and Disputes Summit 2023 last November, CMS’ session – Shams and charades: Lessons learned from abusive litigation against banks – made shockwaves around the auditorium of the Queen Elizabeth II Centre in London’s Westminster. Indeed, it’s not often that a panel discussion elicits gasps of …

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‘Firing on all cylinders’: Akin sees double-digit growth in revenue and PEP

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‘Firing on all cylinders’: Akin sees double-digit growth in revenue and PEP

In keeping with Hogan Lovells’ recently released financial results, Akin has reported strong financials for 2023, contradicting fears of diminished returns for the global elite. Revenue at the firm is up 11% to $1.37bn from $1.23bn, while profit per equity partner (PEP) has jumped 22% to $3.15m from $2.58m. This follows a sluggish 2022 for …

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‘Bolder, pragmatic, more proactive’: Regulators bare teeth, but will they bite?

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‘Bolder, pragmatic, more proactive’: Regulators bare teeth, but will they bite?

2024 started with uncharacteristically decisive action from the Solicitors Disciplinary Tribunal (SDT), when in January it issued its joint highest-ever fine against Clyde & Co, following a slew of anti-money laundering breaches. It was a bold move from the regulator, which in recent months has drawn criticism over its perceived lack of action during the …

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Simpson Thacher unveils new London head as office posts double-digit revenue growth

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Simpson Thacher unveils new London head as office posts double-digit revenue growth

Simpson Thacher has announced that Wheatly MacNamara will take over from Jason Glover as London managing partner in October. Glover, who has led the office since 2016, will remain at the firm in a strategic role. The news comes as the City office recorded a 23% rise in revenue for 2023. MacNamara (pictured), whose practice …

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