Skadden, Arps, Slate, Meagher & Flom has promoted just one London lawyer to partnership in this year’s US-centric round of partner promotions.
The US top 5 Global 100 firm has promoted eleven lawyers in total, up three from last year Continue reading “Partner promotions: Skadden makes up 1 City partner out of 11; Morgan Cole promotes two”
Tie-up to create a strong platform in south of England and Wales
Despite talks over the giant south-east combination between Blake Lapthorn, Boyes Turner and Morgan Cole to create a £100m firm falling through late last year with Boyes Turner withdrawing, Blake Lapthorn and Morgan Cole last month announced the two will merge on 1 July to form Blake Morgan, a 120-partner firm with a joint revenue of £72m.
Continue reading “Blake Lapthorn and Morgan Cole announce July merger”
While talks of the giant south-east combination between Blake Lapthorn, Boyes Turner and Morgan Cole to create a £100m firm fell through late last year with Boyes Turner withdrawing, Blake Lapthorn and Morgan Cole have announced the two will merge on 1 July to form Blake Morgan, a 120-partner firm with a joint revenue of £72m.
Continue reading “Due south: Blake Lapthorn and Morgan Cole announce July merger”
The latest round of LLP accounts for 2012/13 has revealed that Shoosmiths paid £1.5m to acquire Scottish firm Archibald Campbell & Harley, while Morgan Cole’s highest paid partner took home £116,000 less, Maclay Murray & Spens reduced their borrowing despite a tough year and Charles Russell’s highest paid equity partner took home £234,000 more.
On merging with Archibald Campbell in October 2012, Shoosmiths acquired £1.77m of net assets, £1.47m of which was paid as a cash consideration, the UK top 45 firm’s first-ever LLP accounts show. The remaining £300,000 was collected by the end of the financial year. Continue reading “LLP latest: Shoosmiths, Morgan Cole and MMS see significant drop in highest paid partner as Charles Russell’s takes home 64% more”
It would create a south-east giant with combined revenues approaching £100m but any potential tie-up between Blake Lapthorn, Boyes Turner and Morgan Cole could require some considerable rationalisation.
The firms are currently in the very early stages in merger talks, potentially creating a firm with offices across the Midlands, south of England and Wales, employing over 450 lawyers.
A statement from Blake Lapthorn managing partner Walter Cha said: ‘A merger is one of the many options we have been exploring and Morgan Cole and Boyes Turner – both excellent firms – have been among those we have talked to. Discussions have not progressed beyond first stages at this juncture and it is too early to say whether talks will continue with either of the firms or indeed others.’
Top 30 UK firms DAC Beachcroft and Stephenson Harwood today (15 July) unveiled growth in revenue for 2012/13, while Brodies last week revealed a third consecutive increase in turnover and profit and Morgan Cole has seen its profits drop significantly.
DAC Beachcroft’s revenues have increased by 14.2% to £188.2m, up from £164.8m in 2011/12. Net profit at the 1079-lawyer firm also increased by 42% to £31.8m at the end of the last financial year, up from £22.4m the previous year. However, profit per equity partner (PEP) is down by 11.5% from £321,000 in 2011/12 to £284,000.
