City elite dominates again as Deutsche Bank nears conclusion of panel review

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City elite dominates again as Deutsche Bank nears conclusion of panel review

Panel firms resist attempts to remove junior lawyer fees from pricing

While more than a dozen firms – including the entire Magic Circle – have made it onto Deutsche Bank’s latest global legal panel, an attempt by the bank to remove fees for junior lawyers has proved controversial.

The review process, which is understood to be mostly complete, stemmed from a request for proposal sent out to help Deutsche analyse its current policies and processes for external legal counsel. The process, dubbed ‘Project Eagle’, was led by global chief operating officer of legal and compliance Rose Battaglia, with appointments expected to last two years.

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Consolidation continues as Browne Jacobson targets top 50 through Beale & Co talks

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Consolidation continues as Browne Jacobson targets top 50 through Beale & Co talks

Midlands-based Browne Jacobson is in late-stage merger talks with London-based construction and insurance specialist Beale & Co to create a firm with eight offices and a turnover of £82m – putting the combined firm in the top 50 of the Legal Business 100.

In a joint statement, Iain Blatherwick, managing partner at Browne Jacobson, and Antony Smith, senior partner at Beale, said the combination, which would have over 1,000 staff and 137 partners, could offer clear strategic benefits.

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‘Reputation is catching up with reality’: White & Case and Bakers enjoy City revenues gains as rivals stall

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‘Reputation is catching up with reality’: White & Case and Bakers enjoy City revenues gains as rivals stall

London turnover down at Akin Gump, Debevoise and Reed Smith

The London outposts of leading international firms reported mixed results for 2016, with White & Case and Baker McKenzie reporting income growth while Reed Smith and Debevoise & Plimpton both struggled.

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‘An extremely big deal’: profession lays out key threats as article 50 triggered

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‘An extremely big deal’: profession lays out key threats as article 50 triggered

Linklaters gives evidence to Lords Committee on Brexit impact

City firms have voiced their concerns over Britain’s arrangements to leave the European Union as prime minister Theresa May pulled the trigger on article 50 last month.

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Focus on quality and cost in government panel review sees Magic Circle take reduced roles

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Focus on quality and cost in government panel review sees Magic Circle take reduced roles

Roster reduced from 48 to 18 firms following Crown Commercial Services review

Eighteen firms have been appointed to the Crown Commercial Service (CCS)’s general legal advice panel in a two-year, £400m contract. The process, which splits firms between two tiers, had a significant focus on both cost and quality.

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‘We won’t stop’: A&O management team on building out in the US and breaking lockstep

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‘We won’t stop’: A&O management team on building out in the US and breaking lockstep

Allen & Overy (A&O)’s management is bullish about the Magic Circle firm’s US expansion plans, having broken lockstep twice in 12 months to bring in two finance teams from major US firms.

In February it emerged A&O used its bonus pool to hire a three-partner Paul Hastings team. The US firm’s leveraged finance head Bill Schwitter joined A&O’s New York office as the firm’s global co-head of high-yield alongside partner Michael Chernick and capital markets partner Jeffrey Pellegrino.

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‘An industry-wide issue’: City reacts as Australian judge rules HSF partners can join White & Case

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‘An industry-wide issue’: City reacts as Australian judge rules HSF partners can join White & Case

Leavers’ provisions in war for talent come under scrutiny

While the first round of a case that saw Herbert Smith Freehills (HSF) pursue an action against eight partners who quit to join White & Case in Australia has concluded, the dispute has highlighted the ongoing war over talent between UK firms and their US rivals.

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Unsecured creditors to lose almost £34m as KWM Europe admin continues

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Unsecured creditors to lose almost £34m as KWM Europe admin continues

KWM China buys reassurance by taking SJ Berwin name

An initial report into the financial affairs of King & Wood Mallesons’ (KWM) now defunct European arm estimates that unsecured creditors are set to lose £33.5m as the firm’s inner financial workings begin to surface.

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Freshfields wins mandate on Standard Life/Aberdeen Asset Management £11bn merger

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Freshfields wins mandate on Standard Life/Aberdeen Asset Management £11bn merger

Magic Circle firm acts alongside Slaughters and Maclays

With the asset management market tipped for further consolidation, Freshfields Bruckhaus Deringer scored a role alongside Slaughter and May and Maclay Murray & Spens on Standard Life and Aberdeen Asset Management’s £11bn merger in March.

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Magic Circle duo land £2.2bn energy deal as antitrust concerns surface

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Magic Circle duo land £2.2bn energy deal as antitrust concerns surface

Linklaters and Slaughter and May have taken lead roles as UK energy services giant Wood Group is to acquire its struggling rival Amec Foster Wheeler for £2.2bn amid market competition concerns.

The deal was announced in March and is expected to close in the second half of 2017. Under the terms, Scottish company Wood Group is offering £5.64 per Amec share, for 56% ownership of the combined group.

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