Legal Business took a tour of New York for our Global 100 special and found Wall Street’s elite in a confident mood amid robust deal markets and the ongoing regulatory push. New York, June 2015. Once the summer arrives in Manhattan, everyone wants to leave – to head upstate or to the Atlantic Coast. Anything …
2014 saw US firms continue to build on a solid home base but extend their reach in Europe, Asia and Africa. As clients seek to consolidate their law firm panels internationally, the Global 100 continue to slug it out. ‘The last 18 months have seen clients increasingly want to internationalise panels – not just country …
Continue reading “Global 100: The regional view – Stick and move”
The last of the big four City firms to post its results, Freshfields Bruckhaus Deringer has revealed an 8% slump in its profit per equity partner (PEP) for the 2014/15 financial year, while firmwide revenues were more or less flat, rising just 1%.
Ashurst has revealed a drop in both firmwide revenues and profits per equity partner (PEP) following a ‘year of consolidation and significant investment’, including a global strategic review.
DAC Beachcroft has elected real estate partner Virginia Clegg as the firm’s new senior partner, while insurance head David Pollitt has been named managing partner, bringing both the insurance and non-insurance parts of the business together in leadership.
Mayer Brown‘s Asia arm is in the final stages of forming an association with the Hong Kong office of Chinese firm Jingtian & Gongcheng, subject to regulatory approval from The Law Society of Hong Kong, while Cleary Gottlieb Steen & Hamilton has hired Shearman & Sterling capital markets partner Shuang Zhao.
Hogan Lovells has tapped Baker Botts’ disputes team in Houston with the hire of three partners with almost 70 years’ combined experience at the firm, including the former head of the Houston office.
King & Wood Mallesons‘ (KWM) City office has suffered its second partner exit this week, with financial markets partner Gregg Beechey being the latest to quit the firm to join Fried, Frank, Harris, Shriver & Jacobson in London.
A nine-lawyer team will be leaving the US offices of Ashurst, including its US managing partner, to join Paul Hastings as it expands its structured finance team.
One of the most consistent success stories of the UK legal market in recent years, RPC has revealed impressive growth for 2014/15 as its revenues rose 12% to £94m, while profit per equity partner (PEP) at the firm soared 19% to £403,000.
