Taylor Wessing yesterday (2 June) became one of the earlier UK movers in disclosing its financial results for the 2013/14 year, posting a 21% rise in profit per equity partner to £657,000 alongside an increase in UK and global revenues of 7.4% and 6.4% respectively. Continue reading “Financial results 2013/14: Taylor Wessing’s PEP up 21% alongside 7.4% increase in UK revenue”
International expansion: openings for Charles Russell in Saudi; Eversheds in Durban; Osborne Clarke in Amsterdam
A trio of UK firms have this week expanded their international office base as Charles Russell agrees a formal association with Saudi Arabian firm Al-Soaib Law, Eversheds continues to enhance its operations in Africa via a tie-up with Durban-based Knight Turner and Osborne Clarke (OC) opens an office in Amsterdam with a four partner hire. Continue reading “International expansion: openings for Charles Russell in Saudi; Eversheds in Durban; Osborne Clarke in Amsterdam”
Know your client – Home Office targets professional advisers with tougher organised crime laws
City law firms may face increased red tape when accepting new clients onto their books after the Home Office today (3 June) unveiled plans to bolster legislative powers to imprison solicitors, accountants and others who suspect that their client is linked to organised crime. Continue reading “Know your client – Home Office targets professional advisers with tougher organised crime laws”
Ashurst on board with diversity targets of 40% female partner promotions and 25% partner ratio
Ashurst has become the latest firm to introduce gender diversity targets, committing to promote a greater percentage of female associates to partner, with a further goal that 25% of equity partners will be female by May 2018. Continue reading “Ashurst on board with diversity targets of 40% female partner promotions and 25% partner ratio”
Firms face additional partner pensions liability after Supreme Court defines LLP members as ‘workers’
Partnerships could now be saddled with a new layer of financial and administrative responsibility after a Supreme Court ruling last week found that partners are ‘workers’ for the purposes of whistleblowing legislation. Continue reading “Firms face additional partner pensions liability after Supreme Court defines LLP members as ‘workers’”
Freshfields increases associate pay across the board
Freshfields Bruckhaus Deringer today (29 May) unveiled a significant pay hike for its newly qualified (NQ) and junior ranks, with trainees also in line to take home £1,500 more, following a pay freeze in 2013.
Continue reading “Freshfields increases associate pay across the board”
Back in the machine: A&O strengthens high yield practice with Cahill Gordon hire
With competition between US and UK firms for dominance in key European finance markets intensifying each month, Allen & Overy (A&O) has laid down a significant marker. It has boosted its US-qualified lawyer ranks in London with the hire of Cahill Gordon & Reindel counsel Jake Keaveny, a high yield specialist, as partner.
Continue reading “Back in the machine: A&O strengthens high yield practice with Cahill Gordon hire”
Pastures new: Legal Business hits Fleet Street while Legalease welcomes a key new hire
After a decade based in Ansdell Street in leafy Kensington, Legal Business and the entire Legalease family are moving to more central, larger premises in Fleet Street.
Flight MH370: Kennedys’ aviation partner David Johnston on standby for claims
As the Malaysian government this week releases the raw data used to show Malaysian Airlines flight MH370 crashed into the southern Indian Ocean, Kennedys aviation liability and insurance partner David Johnston is on standby to deal with any potential claims arising against the airline. Continue reading “Flight MH370: Kennedys’ aviation partner David Johnston on standby for claims”
Further hire for Thirty Nine Essex with arrival of Ince & Co litigation partner
After three decades in private practice longstanding Ince & Co litigation partner Denys Hickey has re-joined the Bar with a move to Thirty Nine Essex Street Chambers, just weeks after the leading set hired Shell’s former head of legal, Peter Rees QC. Continue reading “Further hire for Thirty Nine Essex with arrival of Ince & Co litigation partner”
Keystone brings in partners from Addleshaws, SGH Martineau and former GC of Yahoo!
Keystone Law has hired into its most senior ranks a former partner from Addleshaw Goddard and SGH Martineau alongside a former general counsel (GC) of Yahoo! to bolster its disputes, corporate and TMT practices. Continue reading “Keystone brings in partners from Addleshaws, SGH Martineau and former GC of Yahoo!”
Updated: Linklaters and Freshfields lead on Lloyds’ 25% TSB float for £1.5bn
Linklaters’ Matthew Bland is advising Lloyds Bank on its floatation of a 25% of its TSB business on the London Stock Exchange next month, on which Freshfields Bruckhaus Deringer’s Julian Makin will act for the underwriters. Continue reading “Updated: Linklaters and Freshfields lead on Lloyds’ 25% TSB float for £1.5bn”
Revolving doors: Senior hires for Withers, Baker & McKenzie, Brown Rudnick and TLT
The past week saw Withers hire Taylor Wessing’s head of contentious trusts and estates as the BBC’s head of litigation returned to private practice with a move to Baker & McKenzie, and Brown Rudnick and TLT made strategic hires in intellectual property (IP) and real estate respectively. Continue reading “Revolving doors: Senior hires for Withers, Baker & McKenzie, Brown Rudnick and TLT”
Approved – Squire Sanders and Patton Boggs confirm merger
Despite reports in the US legal press that the merger between Squire Sanders and Washington-headquartered lobbying firm Patton Boggs may have hit the buffers at the 11th hour, the firms today (27 May) announced that the merger has been voted through. Continue reading “Approved – Squire Sanders and Patton Boggs confirm merger”
Guest Post: Our battle for market share (why growth is not dead)
It has become bromidic to observe that we’ve moved from a linear growth market, ever up and to the right, to one of flat demand (did someone say, “growth is dead?”). We are, in short, in a battle for market share.
Welcome to the rest of the economy. Continue reading “Guest Post: Our battle for market share (why growth is not dead)”
Salary reviews: Hogan Lovells raises trainee and NQ pay again
Hogan Lovells has increased its pay for both trainees and newly-qualified (NQ) lawyers for the second year running after a freeze on trainee pay in 2012.
Continue reading “Salary reviews: Hogan Lovells raises trainee and NQ pay again”
A&O’s former global antitrust head Olivier Fréget leaves to set up competition boutique
Olivier Fréget, co-head of Allen & Overy’s (A&O’s) global antitrust group until the end of last year, has left the Magic Circle firm to launch boutique firm Cabinet Fréget – Tasso de Panafieu (CFTP). Continue reading “A&O’s former global antitrust head Olivier Fréget leaves to set up competition boutique”
Strategic hires: DWF brings in Addleshaws employment head; Addleshaws takes on Eversheds financial services partner
DWF has hired Addleshaw Goddard’s former national head of employment Andrew Chamberlain to take on an identical role at his new firm, leading the strategic growth of its 60-strong UK-wide employment team. Continue reading “Strategic hires: DWF brings in Addleshaws employment head; Addleshaws takes on Eversheds financial services partner”
SRA approves plans to broaden qualification route beyond training contracts
The Solicitors Regulation Authority (SRA) board yesterday (21 May) formally approved an overhaul of its training regulations and continuing professional development (CPD) regime in a step towards opening up the pathways to qualification and ongoing self-assessment.
Continue reading “SRA approves plans to broaden qualification route beyond training contracts”
BP brings in reverse auction as it pushes ahead with panel review
BP has introduced a reverse auction into its latest panel tender process, an announcement which comes in the same week as the energy giant lost an appeal to restrict access to its $20bn compensation fund for the Deepwater Horizon disaster. The FTSE 100 company confirmed this morning (22 May) that it has issued invites to existing and potential panel member firms, and revamped the process with the introduction of an online reverse auction element to make the bidding process more transparent, quicker and efficient. Continue reading “BP brings in reverse auction as it pushes ahead with panel review”