The US bonus season has kick-started with elite New York firm Cravath, Swaine & Moore setting the tone by revealing it will pay its associates the same end-of-year bonuses as 2012, ranging from $10,000 to $60,000. Lawyers who joined Cravath in September this year will receive a $10,000 bonus on Friday 20 December, identical to last year’s …
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Ashurst’s high profile global head of corporate Stephen Lloyd appears set to join Allen & Overy (A&O) after resigning from the newly-merged firm in November. While Lloyd’s move is still subject to a vote by the Magic Circle firm’s partnership, one corporate partner at A&O told Legal Business: ‘It’s not final, but it’s very likely. We are …
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Newly-merged Ashurst has joined the growing numbers of top 50 LB100 firms to report an increase in turnover during the first half (H1) of 2013/14, with its combined revenues up by 5.8% to £298m, thanks to improved prevailing economic conditions and an uptick in transactional work. The 1,800-lawyer firm, which achieved full financial integration with big …
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By any estimation 2012/13 was Berwin Leighton Paisner’s (BLP’s) annus horribilis but the top 20 firm is showing modest signs of recovery with today’s (2 December) announcement that its revenues are up by 6% on this time last year. Partners at the 786-lawyer firm have for some time privately indicated that its 2013/14 revenues are showing …
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After months of speculation, Slater and Gordon has finally announced the acquisition of the consumer services and personal injury (PI) business of Manchester’s Pannone today (28 November) in a deal worth £33m. Slater and Gordon will acquire the majority share of Pannone, including personal injury and serious injury, clinical negligence, court of protection, family, wills, …
Freshfields Bruckhaus Deringer corporate partner Chris Bown has become the third senior partner in two months to resign from the Magic Circle firm for an in-house role, with news that he is to join private equity house CVC Capital Partners. Bown, who founded Freshfields London-based private equity practice in 1999, will be joining longstanding client CVC as a …
The potentially game changing merger between California-based Orrick, Herrington & Sutcliffe and New York-headquartered Pillsbury Winthrop Shaw Pittman is off after the firms said issues surrounding client conflicts of interest had proved insurmountable. The firms disclosed around a month ago that they were in talks, with a view to creating a 1,800-lawyer practice with revenues of around …
For all the talk of innovation in the profession, experimentation with new models has so far been more evident at mid-pack players like Berwin Leighton Paisner (BLP) and Eversheds than elite London or New York advisers. However, as Legal Business reveals today (25 November), Allen & Overy (A&O) has become the first top tier outfit to …
One of the strongest intellectual property firms in the US, Washington DC-based Finnegan Henderson Farabow Garrett & Dunner, has launched an office in the highly competitive London market in a bid to strengthen its European patent practice. The launch follows the closure of the firm’s Brussels practice announced in August, which will officially shut down …
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The first of the Magic Circle firms to disclose its 2013/14 half year (H1) results, Allen & Overy (A&O) has done so in reasonable style, starting the year with a 7.5% rise in revenues thanks in large part to strong performances in its litigation and finance practices. H1 turnover at the 2,700-lawyer firm increased to £608m, …
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