When former Dewey & LeBoeuf partners blamed Citibank for not telling them about the dire state of the firm’s finances, they got short shrift. In today’s legal market, there’s no excuse for not scrutinising the balance sheet. Here’s LB’s definitive guide to all you need to know When law firms fail, the fallout can be …
From our first ever in-house survey, released in October 2012, it was clear that the hourly rate is still very much alive and kicking. After years of calling for its demise, why do clients still accept it, and will it ever die?
Squire Sanders expanded both its Middle East and South Korea operations in October, as Latham & Watkins reported a surge in investment activity between Asia, most notably China, and the Gulf states. Cleary Gottlieb Steen & Hamilton also announced in October that it will open an office in Seoul, following approval from the Korean regulatory …
Continue reading “Firms set sights on Asia investment into Middle East”
City law firms unimpeded by banking relationships will be seeking a place on a new Financial Services Authority (FSA) panel of external advisers to carry out investigations into financial institutions. The panel, which will be announced in spring next year, will comprise firms that will compile reports under section 166 of the Financial Services and …
Continue reading “Places up for grabs on FSA investigation panel”
Baker & McKenzie has extended its increasing strategic focus on Latin America by becoming the first international law firm to establish in Peru. The firm announced a new partnership with Estudio Echecopar, a leading Lima-based firm, in October. It is one of the largest firms in Peru, with over 200 staff, and is ranked in …
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Following an extremely acquisitive year since its strategic alliance with Salans came to an end, Pinsent Masons shows no signs of slowing down, with Turkey and Africa next in its sights for 2013. According to a spokesperson at the firm, Pinsents is considering a joint venture or alliance in Turkey next year and its recent …
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At the end of a dramatic year for the Scottish legal market, the recently announced union between Glasgow and Edinburgh star Burness and one of Aberdeen’s strongest firms, Paull & Williamsons, looks set to redefine the Caledonian top-tier. The merger, which was announced last month and takes effect on 1 December, will see the two …
Continue reading “Consolidation changes the face of Scottish elite again”
One particularly interesting statistic emerged from our in-house survey last month: 33% of respondents said they felt law firms were not handling their work at the appropriate level. And the biggest losers in all of this? The senior associates.
Last month, Cleary Gottlieb Steen & Hamilton did something that it has only done once before – open two non-US offices in the same year. Seoul became the firm’s sixteenth office, launching just a month after Cleary opened its fifteenth office in Abu Dhabi. The only time the firm has previously opened two offices in …
Continue reading “Lateral thinking required with international expansion”
Ronan O’Sullivan joined the small London operation of Paul Hastings as a senior associate seven years ago; now he’s running the office. LB meets the man with plans to give the top-30 US firm the success it craves on this side of the pond Paul Hastings’ Ronan O’Sullivan is an ambitious soul. Described by peers …
