DAC Beachcroft takes £4m hit on failed IT project, LLP accounts reveal
National law firm DAC Beachcroft took a £4.39m hit on a failed IT project as it tried to change its case management system internally, accounts reveal.
US banking results: Goldman Sachs quadruples annual legal spend as others cutback
The major US banks released fourth quarter 2015 results this week, with Goldman Sachs blaming poor profits on legal costs, as other lenders benefited from declining legal spends.
‘An absolute match’: Former Mayor Giuliani to join Greenberg Traurig in New York
Former New York Mayor and the face of Bracewell & Giuliani, Rudolph Giuliani (pictured), is leaving the firm for Greenberg Traurig as the latter firm moves to bolster its crisis management and white collar practices.
‘A real achievement’: Pinsent Masons tops Stonewall rankings for LGBT inclusive law firms
UK top 20 firm Pinsent Masons is the top law shop, and fifth best overall UK employer for LGBT staff according to Stonewall’s Workplace Equality Index.
Revolving doors: Reed Smith ups energy offering as Mayer Brown JSM and Ince & Co make Hong Kong hires
Reed Smith, which last week cut 45 jobs across its US, Europe and Middle Eastern offices, has bolstered its energy offering in the United Arab Emirates and China by appointing partners from Pinsent Masons and Norton Rose Fulbright.
KWM to hold elections as Europe managing partner Boss stands down after less than a year
King & Wood Mallesons (KWM) is to hold managing partner elections for its European practice as William Boss has resigned after less than a year in the post.
‘Need to secure value for money and quality’: industry groups welcome competition probe into legal market
In a move welcomed by industry groups, the Competition and Markets Authority (CMA) has launched an investigation into the legal services market over concerns about the affordability and standards of legal services.
Finance push: DLA Piper ramps up City offering with Latham hire
Fresh from hiring Slaughter and May’s ex-head of derivatives Mark Dwyer and Baker & McKenzie’s former head of structured capital markets Vincent Keaveny, DLA Piper has added Latham & Watkins partner Andy Kolacki to its London office as it pushes its finance credentials in the City.
Revolving doors: DLA Piper makes commercial contracts play, as Global 100 firms make key hires
In a busy start to the year, DLA Piper has strengthened its commercial practice with the appointment of two lawyers from Simmons & Simmons, while Global 100 firms K&L Gates, Cooley and White & Case have all made lateral hires.
‘Not unexpected’: SFO asks for extra funds for fourth time in as many years
Prosecutors at the SFO have made another request for cash, seeking an additional £21.1m for ‘blockbuster’ cases, after making a £10m request in June last year. The SFO’s core funding budget for 2015-16 is £33.8m.