The US bonus season, usually led by Cravath Swaine & Moore, has this year seen Simpson Thacher & Bartlett kick-start the process ahead of the traditional schedule, and set a very high bar for the rest of the American elite firms.
Guest post: Tiger, Plant, Freshfields and the Short Sellers – a look at legal ethics in ABS-owner Quindell’s woes
Charles Plant, outgoing Chair of the SRA who has led the SRA through one of the more interesting phases in its relatively young life, had some interesting thoughts in a recent valedictory speech (at legal futures). In particular, flat-earther comments aside, he is reported as having offered this:
‘Doing more for the large clients’: Simmons & Simmons posts 8% rise in revenue
Top-20 UK firm Simmons & Simmons has seen revenue rise 8% for the first six months of the 2014-15 financial year with income, buoyed by the recovery in bank lending for M&A and financial regulatory work, increasing from £130m to £140m.
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Regional Insight 2015
Slimming down: Linklaters to vote on overhaul of management structure
The Linklaters partnership will vote on plans to shrink the firm’s international board by four members tomorrow (25 November 2014) in an effort to cut down time spent on management.
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Regional Insight 2015
‘An excellent outcome for the creditors’: Collyer Bristow makes £24m settlement over Rangers FC advice
The liquidators for Scottish football club Rangers have confirmed a £24m settlement has been paid by City firm Collyer Bristow over fees they received in relation to the club’s controversial 2011 takeover.
Hiring a silk: Stone Chambers chief Steven Gee QC to depart for City disputes boutique Joseph Hage Arronson
High flying disputes boutique Joseph Hage Aaronson is set to enhance its City team with the hire of leading silk Steven Gee QC, who serves as the current head of Stone Chambers.
Yorkshire: No quarter asked
As one of the region’s most sophisticated and competitive hubs, Yorkshire lawyers are still expecting to fight for work, even in a reviving economy.
Wales: Back to basics
With a far higher percentage of public sector respondents and a high proportion of SME businesses, Wales has unique legal requirements.
South West: Bristol Fashion
Big spending clients in Bristol are keeping a raft of national firms and strong local players particularly busy.
Scotland: Scotland the brave
It’s been a turbulent ride for the Scots legal market post-banking crisis, but with the independence vote settled, the region is feeling more buoyant.
Northern Ireland: Northern Exposure
While the economic downturn and subsequent public sector cuts have hit the region harder than most, Northern Ireland’s resilience is very much in evidence.
North West: Not so grim
Commercially-driven Manchester is helping to lead the North West’s striking transformation from industrial heartland to modern knowledge economy.
North East: Work to rule
Employment law concerns loom particularly large in the minds of North East companies.
Midlands: The middle of somewhere
Amid fierce competition for talent from London, new entrants and closer transport links point to a new chapter for the Midlands legal market.
Overview: Down in albion
Confidence is returning to the national UK economy, to the relief of clients and law firms alike. But, as our Regional Insight report shows, growth in legal services is still a relative term across local markets in continued flux.
The outward indicators are generally strong. Based on economic forecasts in 2014 from the likes of the International Monetary Fund and PwC, the UK is on track to become the fifth largest economy in the world by 2020, overtaking France.
But while PwC’s July 2014 economic outlook for the UK made the bold assertion that ‘all major industry sectors and regions are now showing positive growth trends’, inevitably those regions are starting from different positions, facing varying dynamics and contributing to the overall growth at significantly different rates.
Regional Insight – Leader
If you were to venture outside London to the major regional legal markets ten or 15 years ago, you would probably have been surprised. The energy, ambition and cohesive professional communities in these markets went well beyond expectations.
In the bars of Birmingham, Bristol and Manchester you would often meet individuals with that mix of personality, judgement and charisma that marks out the best commercial lawyers. No wonder so many of London’s sharpest legal operators used to be bred in the sticks.
Guest post: The PM’s ‘foreign fighters’ plan – probably lawful
In Australia, the Prime Minister announced new counter-terrorism powers which he intends to introduce in a bill in the next few weeks. He said there’d be ‘new powers for police at ports to seize passports, to stop suspects travelling and to stop British nationals returning to the UK unless they do so on our terms.’
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‘Shining examples’: Three law firms make Top 100 Apprenticeship Employers list
Weightmans, Addleshaw Goddard and Oxfordshire-based Brethertons Solicitors have all made it on to the top 100 Apprenticeship Employers list.
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