Last year Cyprus’ legal market appeared enviously impervious to the financial crisis. Twelve months later and the Mediterranean financial hub has been hit hard by heavy exposure to the Greek debt crisis and its successive write downs. In scenes that have been played out repeatedly across Europe – and which are deeply reminiscent of the …
Nearly a quarter of UK law firms with revenues over £50m derive more than half of their turnover from overseas, according to a recent survey by Barclays. Three quarters of firms surveyed by the bank, of which 73% have a presence in more than five countries, pull in more than 10% of their revenues from …
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Jones Day, one of the largest law firms in the Global 100 by headcount, is most commonly recognised for its US strengths, but John Phillips, partner-in-charge of the London office, says the firm is keen to expand its UK offering: ‘We have to develop in London and turn it into a main office. The plan …
Continue reading “Jones Day keen to boost London headcount after departures”
With the International Relations Committee of the Brazilian Bar Association (OAB) due to vote on suggested changes to the country’s Bar rules, LB has obtained a copy of the proposals up for discussion. Drafted by attorney Carlos Roberto Siqueira Castro, partner in Rio de Janeiro-headquartered litigation outfit Siqueira Castro Advogados, the report pushes for a …
Continue reading “Brazilian Bar expected to vote to end foreign associations”
Clyde & Co saw seven partners leave its Hong Kong arm in April. Significantly, the departures were all former Barlow Lyde & Gilbert (BLG) partners that Clydes inherited following the two firms’ merger last year. ‘Our strategy in Hong Kong has been to focus on corporate insurance,’ said Peter Hasson, chief executive at Clydes. ‘The …
Continue reading “Clydes outlines global strategy following Hong Kong exits”
Management at Dewey & LeBoeuf has reacted defensively to widespread partner exits in 2012, contending the firm’s position is ‘strong’ and that it will ‘meet its financial targets for the year’. Dewey has already seen a mass exodus of partners from its business since the start of the year, with almost 70 partners having departed …
Continue reading “Dewey management in denial as exits continue”
The fifth LB/Marsh round table brought together a group of risk experts to discuss the practical effects of alternative business structures and who to appoint in key management roles created by the SRA. The timing could not have been better – the fifth risk round table hosted by LB and Marsh took place at the …
Continue reading “Structural challenges – Risk Management Round Table 2012”
As LB was going to press, news emerged that Dewey & LeBoeuf was set to lose its recently acquired London private equity team, which includes two partners and nine associates, to McDermott Will & Emery. So another two partners have jumped ship, bringing the total number of partner exits close to 70 since the turn …
Continue reading “Dewey needs to take its head out of the sand”
London disputes specialist Stewarts Law was shortlisted for Law Firm of the Year at the Legal Business Awards in February on the back of an outstanding performance during 2010/11. But with revenues up 42%, a profit margin of 41% and PEP of £890,000, you could be forgiven for wondering why it has now decided to …
Freshfields Bruckhaus Deringer’s ‘man on the ground’ in Tel Aviv, Adir Waldman, had a relatively typical New England upbringing. Having grown up in Fairfield, Connecticut, the academically gifted Waldman studied at nearby Yale University, before returning two years later to attend Yale Law School, where he became senior editor of The Yale Law Journal. In …
