The days when London offices tended to be expensive beachheads draining profits from American parents appear to be long gone, with Weil, Gotshal & Manges and Covington & Burling joining the string of US law firms to substantially hike their revenues in the City in 2014. Continue reading “Global London: Weil and Covington sustain robust City growth as US firms expand market share”
US results: Shearman sees solid City growth but US stalls after rebound year; Gibson surpasses $3m PEP
Following a rollercoaster ride over the past few years, Shearman & Sterling has unveiled financial results showing moderate but steady growth in 2014 as profit per equity partner (PEP) rose 5.8% on 3% turnover growth. Meanwhile, Gibson, Dunn & Crutcher had its 19th year of consecutive revenue increases with a 6% lift to $1.47bn.
US financials round up: White & Case revenues increase, K&L figures are flat, while Cadwalader partner profits drop
US financial results for 2014 continue to stream in with White & Case becoming the latest firm to reveal an increase in revenue while both K&L Gates and Cadwalader, Wickersham & Taft bucked the positive trend having turned in lacklustre performances.
US financials 2014: Baker Botts grows revenues 11% as turnover picks-up at Dechert, McDermott and Goodwin Procter
Following Weil Gotshal & Manges’ impressive profit increase, other US firm numbers continue to paint a positive picture Stateside with Baker Botts recording 11% revenue growth while Dechert, Goodwin Procter and McDermott Will & Emery all see increased turnover.
The firm most likely – can anything halt Latham’s global rise?
The most upwardly mobile member of the international elite has handed its leadership to a ‘global hawk’. Can anything halt the rise of Latham & Watkins?
At the end of a lengthy call mulling the prospects of Latham & Watkins amid a once-in-a-generation change of leadership, one Allen & Overy partner summarises: ‘They’re still doing better than we are though! Can you hand Bill [Voge] my CV when you see him!’
Indeed. To many neutral observers, Latham has been the most upwardly mobile firm in the upper echelons of the global legal market in the last 20 years, having transformed itself into an international force after deciding to go international in 2000. This rise was overseen by long-term head Bob Dell, one of the most forward thinking and admired leaders in the US legal market. Having led the firm for 20 years, Dell in January handed over as chair and managing partner to fellow Latham veteran Bill Voge (pictured).
Continue reading “The firm most likely – can anything halt Latham’s global rise?”
Can Cooley make good on its City ambitions?
Sarah Downey talks to chief executive Joe Conroy about its high-impact City launch
‘Eight years ago, I couldn’t get anyone to talk to me – I couldn’t even get my face slapped,’ says Cooley chief executive Joe Conroy on his attempts to establish a London presence for the Palo Alto-based leader.
It’s difficult to picture such a scenario now. Despite its late entrance in the UK, Cooley is undoubtedly a major force in the US, being well-established as one of the premier names in California’s legal technology community. After much speculation and one or two false dawns, largely due to long, drawn-out negotiations with prospective laterals, the firm announced in early January it would create a 55-lawyer UK practice, including a 15-strong partner team from Edwards Wildman’s beleaguered London office and a further five from Morrison & Foerster (MoFo).
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The blessed – unheralded, Wall Street’s elite comes roaring back
New York’s legal elite re-asserted themselves through 2014, reaping the benefits of a bountiful market for high-end work. Have they done enough to preserve their legacies?
On a crisp September morning, the sun shines brightly from the newly refurbished rooftop offices of Gibson, Dunn & Crutcher, 55 floors up on Park Avenue. There is no hustle on this terrace and time for a few photos of the stunning view. Even with the long trail of cars far below dividing the city, it is a calm place. The calm, of course, is utterly deceptive. 2014 was a breakthrough year for top Wall Street law firms. In the streets and offices in Midtown and Wall Street, the market is buzzing and no-one is benefiting more than the traditional legal lords of New York.
Continue reading “The blessed – unheralded, Wall Street’s elite comes roaring back”
Hiring spree continues as Skadden takes Freshfields non-contentious insurance head
Skadden, Arps, Slate, Meagher & Flom has continued its recent City hiring spree, recruiting Freshfields Bruckhaus Deringer’s non-contentious insurance practice head Robert Stirling as a corporate partner.
Building a base: Akin Gump launches London trainee scheme
Akin Gump Strauss Hauer & Feld is launching its first trainee scheme outside of the US in a move that will see it expand the programme established by the London office of Bingham McCutchen it recently consumed.
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Targeting Europe: James Roome set for a place on Akin Gump’s global board
London-based restructuring guru James Roome, who carried a 28-partner team from Bingham McCutchen to Akin Gump Strauss Hauer & Feld this summer, is set to boost the European presence on Akin’s global management committee.
Continue reading “Targeting Europe: James Roome set for a place on Akin Gump’s global board”