In a surprise twist in the Magic Circle pay war saga, Allen & Overy (A&O) has frozen its associate salaries citing a ‘more challenging business environment.’ The firm typically reviews pay in the summer, but A&O has decided this year to pre-empt any salary-increasing brinksmanship and freeze its rates.
It was uncharacteristically decisive. Rapidly after Russia did the unthinkable and invaded Ukraine on 24 February, many international law firms with Moscow operations hurried out strongly-worded statements at the behest of a hysterical legal press. Linklaters was the first of the major players to react, announcing on 4 March that it would ‘wind down’ its …
Continue reading “The ESG report – Russia: All bite, no bark”
Unlike some flightier in-house counsel, Vodafone’s head of legal for commercial operations, IP and corporate secretariat, Wayne Spillett, has stayed loyal to the company for close to 13 years. After a lengthy conversation, it is easy to see why. Spillett studied both English and French law at the University of Exeter, developing a keen interest …
Continue reading “The Client profile: Wayne Spillett, Vodafone”
The hot legal recruitment market is showing no sign of cooling down with summer looming, as firms continued to strengthen their benches at home and abroad. Starting in May, Ropes & Gray took further steps towards its goal of becoming the go-to private equity practice in the City with the addition of partners Dan Oates, …
If the Ukraine invasion and its ensuing debates around right to representation inflicted a bruise on the legal profession’s reputation, recent professional misconduct episodes have surely left a greater wound. In early May, a Twitter post authored by a Cardiff restaurant owner went viral, containing claims that a group of Ince lawyers had behaved inappropriately …
In a week of globetrotting action for firms, Ashurst has solidified its American ambitions by opening a new office in Texas. In May, Legal Business reported that Ashurst was seeking to add depth in the US as a ‘strategic priority’, with chief executive Paul Jenkins stating the firm needed ‘to do more in the US over …
Osborne Clarke (OC) has joined the slew of firms reporting robust financials, today (13 June) unveiling a 19% increase in overall turnover from €341m to €407m. And in an endorsement of the UK market, domestic revenues jumped 20% from £166.4m to £199.1m. Profit per equity partner (PEP) also saw a notable increase, climbing 11% from …
Continue reading “Osborne Clarke adds over €60m to top line amid buoyant financials”
Salaried partners at BLM will have to re-apply for their positions once the firm’s merger with Clyde & Co goes live on 1 July. Subject to a consultation, the salaried partners at BLM will be automatically transferred to Clyde with the title of legal director, and then given three options. Aside from remaining a director, …
Continue reading “BLM salaried partners forced to re-apply for roles as Clyde merger looms”
Ashurst is understood to be pursuing merger partners in the US as a strategic priority, rekindling its aspirations towards a stateside combination. No discussions have reached a formal stage, however, it is believed the firm has been seeking a merger partner since before the pandemic.
Ince has chalked up a 3% dip in revenues from £100.2m to £97m to a March cyber attack, the war in Ukraine and various other extraneous factors. It is a significant slowdown for Ince, after posting an eye-catching 87% uptick in turnover in 2020 and 4% growth in 2021.
