A&O takes coronavirus threat to task with raft of belt-tightening measures

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A&O takes coronavirus threat to task with raft of belt-tightening measures

 Allen & Overy has pre-empted a likely financial hit from the coronavirus crisis with a host of measures, including altering profit distribution to partners, increasing partner capital levels and freezing some investments and recruitment.  The firm confirmed today (31 March) what it described as ‘prudent management measures’ as part of its ‘ongoing scenario planning’ as the …

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Ashurst launches consulting arm to handle Covid-19 demand with Deloitte partner hire

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Ashurst launches consulting arm to handle Covid-19 demand with Deloitte partner hire

Ashurst has launched a consulting business with the hire of a senior Deloitte partner in Australia to deal with growing client demand amid the coronavirus pandemic. The firm said today (31 March) it had hired Philip Hardy, a partner at the Big Four consultancy since 2008 and head of its Australian governance, regulation and conduct …

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A&O defies coronavirus turbulence to lure back New York litigation partner

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A&O defies coronavirus turbulence to lure back New York litigation partner

 Allen & Overy has not let market turmoil wrought by the Covid-19 pandemic get in the way of its US recruitment ambitions, having re-hired IP litigation partner Paul Keller from Norton Rose Fulbright in New York.  The move, announced today (30 March), comes as part of its strategy to accelerate investment into its US business …

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The domino effect – restructuring counsel brace for deluge as Covid-19 means no more business as usual

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The domino effect – restructuring counsel brace for deluge as Covid-19 means no more business as usual

‘Even two weeks ago no-one predicted such a catastrophic impact from the coronavirus. Things have turned very quickly.’ This City restructuring partner’s words carry some irony, given that the restructuring and insolvency community has for years waited in vain for a sequel to the global financial crisis of 2008/09. However, the trigger event in this …

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A&O bullish on US investment drive with hire of federal enforcement firepower in DC

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A&O bullish on US investment drive with hire of federal enforcement firepower in DC

Allen & Overy  has again thrown itself behind its strategy to accelerate investment in its US business after fruitless merger talks with O’Melveny & Myers, having hired a pair of federal enforcement partners from Orrick Herrington & Sutcliffe in Washington DC.  The addition of Billy Jacobson and Jonathan Lopez, both veterans of the fraud section …

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‘There’s no coronavirus playbook’:  Relief at emergency measures but law firm leaders predict worst is yet to come 

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‘There’s no coronavirus playbook’:  Relief at emergency measures but law firm leaders predict worst is yet to come 

Law firm leaders have responded positively to the UK chancellor of the exchequer Rishi Sunak’s ‘unprecedented’ level of state protection in response to the coronavirus but warn it will need to be the tip of the iceberg.  With the pandemic showing no sign of being contained, the economic impact is predicted to be much deeper than …

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More gloom for Freshfields as another disputes partner exits after internal investigation

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More gloom for Freshfields as another disputes partner exits after internal investigation

Freshfields Bruckhaus Deringer has suffered yet another setback after disputes partner Tom Snelling was dismissed from the partnership following an internal investigation. The move will be an unwelcome addition to the City giant’s woes as the legal industry and the world at large grapples with unparalleled reversals wrought by the ever-escalating coronavirus pandemic.

City leaders take drastic action as coronavirus spreads turmoil across European states and economies

Posted on | Covid-19 News review | and
City leaders take drastic action as coronavirus spreads turmoil across European states and economies

Nathalie Tidman and Thomas Alan assess the impact of the pandemic on the profession as the world battens down for a health crisis ‘Things that are happening today you wouldn’t have believed a week ago,’ reflects David Patient, Travers Smith’s managing partner. Indeed. The outbreak and rapid spread of the coronavirus has in a matter …

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‘No crown jewels’ but firms rally with coronavirus advice to steer clients through crisis

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‘No crown jewels’ but firms rally with coronavirus advice to steer clients through crisis

As cases of the coronavirus accelerate, law firms including Mayer Brown, Eversheds Sutherland, Allen & Overy (A&O), Mishcon de Reya, Hogan Lovells and Fieldfisher have established COVID-19 working groups to help clients. The moves come after swathes of firms ordered employees to work from home in the City and around the world in an attempt …

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Kirkland remains world’s highest-grossing law firm in becoming first to surpass $4bn

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Kirkland remains world’s highest-grossing law firm in becoming first to surpass $4bn

Kirkland & Ellis has added $390m to its top line to trounce Latham & Watkins once again as the world’s highest-grossing law firm, as global turnover surged to $4.15bn. The Chicago-bred giant today (18 March) revealed results for the 2019 financial year, revealing a 10% hike in revenue from $3.76bn last year. Profit per equity partner …

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