In the latest twist to the offshoring saga, and following news last week that two global 100 firms are to outsource to Poland and Manila, Royal Dutch Shell is preparing to open its own offshore legal centre to service the oil giant's global operations.
Newly-qualified UK lawyers at Shearman & Sterling will see salaries pushed up £7,000 to £95,000 this year as City salaries soar. Rises of between 7% and 10% have been dished out across the associate ranks, with more experienced associates set to trouser up to £12,000 extra a year. The salary increases took effect from 1 May, 2016.
With law firms scrambling to build links with the much-hyped fintech sector, Simmons & Simmons has put its money where its mouth is with the launch of a £100,000 'fund' offering free legal advice to promising start-ups.