Herbert Smith Freehills’ (HSF’s) first full financial results post merger has seen it unveil revenues of £800m and profit per equity partner (PEP) of £741,000 for 2013/14. The firm’s net income stood at £232m.
Recent headlines seem to suggest that the Bar is gearing up to ‘bypass’ solicitors and embark upon an all-out war with for business in these increasingly competitive times.
The second of the Magic Circle firms to disclose its 2013/14 financial results, Allen & Overy (A&O) has reported an increase in profit per equity partner (PEP) of 7% to £1.12m from £1.05m, with global revenues up by a more conservative 2% to £1.23bn.
Barclays has turned to a raft of US firms, including Skadden, Arps, Slate, Meagher & Flom and Latham & Watkins, for its preferred legal advisers as its latest panel review sees the banking group cut its legal roster by around 30% and move to a streamlined two-tier system of ‘preferred’ and ‘approved’ firms.
Olswang’s head of real estate finance Eleni Skordaki has quit the firm after nearly ten years to join Dechert’s City finance and real estate group. Skordaki specialises in advising banks in real estate financings and restructurings.
Top-30 LB100 firm Nabarro is the latest to unveil its 2013/14 financials, with annual turnover broadly flat at £116.7m, a rise of 0.3%, while profit per equity partner (PEP) is expected to rise 10.5% to £475,000, constituting a double digit increase for the second successive year.
The GC Power List Summer Reception was held on the evening of 11 June, with RPC as lead sponsor. The event comprised a relaxed debate chaired by veteran City columnist Anthony Hilton followed by an evening of food and drink at the renowned private members’ club at The Ivy. The debate included senior lawyers sharing …
Travers Smith has overhauled the management of its private equity, financial services & markets, real estate, and banking and corporate recovery departments as longstanding partners Phil Sanderson, Margaret Chamberlain, Julian Bass and Jeremy Walsh step down.
Herbert Smith Freehills’ (HSF’s) Manhattan office has capitalised on the US revolving door with the hire of John O’Donnell, a former assistant US attorney and branch chief in the Securities and Exchange Commission’s enforcement unit, who joins to boost the top 10 UK firm’s New York investigations division.
One of the interesting sub-plots of the Big Law vs New Law debate is the way in which workers (partners and their equivalents, salaried partners, employees) are motivated.
