Freshfields Bruckhaus Deringer posted a revenue increase of 7% to £1.327bn for the 2015/16 financial year, clawing back from last year’s flat results when revenues rose just 1% to £1.245bn. The increase puts the firm well ahead of Magic Circle peers Clifford Chance (CC) and Allen & Overy (A&O), which posted revenue increases of 3% …
White & Case, Allen & Overy, Orrick, Herrington & Sutcliffe and De Brauw Blackstone Westbroek have won advisory roles as security software giant Avast Software buys AVG Technologies for $1.3bn.
Ashurst has posted its second year of falling revenues following its merger with Blake Dawson in 2013 with turnover dipping by £28m, bringing the firm’s revenues down 10% to £505m.
In a post-Brexit referendum takeover which has seen turnaround group Melrose’s shares soar, Simpson Thacher & Bartlett and Weil, Gotshal & Manges have secured advisory roles as Melrose purchases US ventilation manufacturer Nortek in a deal worth $2.81bn.
As the firm continues gradual growth, DAC Beachcroft increased turnover to £202m, a 2% increase on last year’s £200m. Profit before tax was up £3m to £35m, a 9% rise on last year’s figures, with profit before tax per member rising 21% to £358,000.
The first of the Magic Circle to report financials this year, Allen & Overy (A&O) posted another year of growth with revenue rising by a modest 2.3% to £1.31bn. Last year turnover had risen by 4% to £1.28m.
Ashurst has continued to hire into its banking practice, appointing King & Wood Mallesons (KWM) partner Robert Andrews to its London office.
Clyde & Co has posted an impressive 13% increase in turnover, topping last year’s 9% revenue boost amid a year of slow growth for many LB100 firms.
Herbert Smith Freehills has significantly bumped up pay packets, awarding its associates with a base salary of £82,000, up £13,000 on last year’s £69,000.
Texas headquartered law firm Haynes and Boone is to open its first European office, announcing a merger with London boutique Curtis Davis Garrard (CDG).
