Keystone Law has released its financial results for 2023-24, posting a 15.1% revenue boost to reach £87.9m. The results, which cover the financial year to 31 January 2024, come after a sustained period of recruitment for the firm, which is continuing to sign up lawyers attracted to its non-traditional, decentralised model.
Norton Rose has reported an 8.7% increase in global revenue, marking a turnaround from two years of declining revenue. Profit per equity partner (PEP) jumped almost 33% from $1.05m to $1.4m in 2023, as the number of equity partners declined by 21% from 644 to 506.
Freshfields Bruckhaus Deringer has broken ranks from its Magic Circle peers on associate salaries, increasing newly-qualified (NQ) pay from £125,000 to a new high of £150,000. The move puts clear water between the firm and Slaughter and May, Linklaters, A&O Shearman, and Clifford Chance, all which pay their NQ lawyers £125,000.
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With worldwide M&A activity down 17% last year, hitting a decade low, according to data from Refinitiv, 2023 was always going to be a more challenging year for US firms in London. And across the board, growth slowed as firms bucked the ‘stack ‘em high’ trend of recent years, exercising an increasingly cautious approach to …
Continue reading “When the going gets tough – Global London firms dig in as market reality bites”
In the contest for the biggest legal story of the moment, the A&O Shearman merger may be more transformational for the firms involved, but it is fair to say it has not quite captured the imagination like Paul Weiss’s dramatic and audacious hiring spree in London. ‘The question is whether a firm can genuinely build …
Continue reading “Market forces: Paul Weiss, Kirkland and the war for London talent”
Eric Knai, Eversheds Sutherland: If you look back at 2023, we have had a very depressed M&A market other than in the energy sector. If you think about the two geopolitical events that have dominated 2023, the Ukraine war and the conflict in the Middle East towards the end of the year, those are both …
Continue reading “The energy and renewables debate: Power shifts”
More than 150 of the City’s leading M&A partners, in-house counsel and representatives from corporates and financial institutions came together in mid-March to discuss the latest trends in M&A at the 2024 Legal Business Corporate and M&A Summit. The event, held at the Queen Elizabeth II Conference Centre in Westminster and sponsored by Gibson Dunn, …
Continue reading “Legal Business Corporate and M&A Summit 2024”
