Eversheds launches in Chicago and dreams of California in first post-merger US moves

Eversheds launches in Chicago and dreams of California in first post-merger US moves

Eversheds Sutherland has chosen one of the most competitive legal markets for its first US office launch since its transatlantic union went live just over two years ago. The firm in June opened its seventh US base in Chicago, home to strong Global 100 players Sidley Austin and Mayer Brown, and the world’s highest-grossing firm, …

The Global 100: The devil you know – The two visions for Freshfields

The Global 100: The devil you know – The two visions for Freshfields

‘Some of the management are dinosaurs. They don’t understand how important this is.’ So speaks one loyalist Freshfields Bruckhaus Deringer partner of a growing unease shared by some regarding the City giant’s direction. When Legal Business’ last focus on the 276-year-old institution hit desks in late 2015, the question was how newly-elected senior partner Edward Braham …

Global 100 overview: Escape velocity as the world’s largest firms pick up momentum

Global 100 overview: Escape velocity as the world’s largest firms pick up momentum

Compared to the dramatic events that have defined each of the three previous years, 2018/19 was relatively benign for the world’s top 100 law firms. True, the world has been dealing with increasing protectionism, US-China trade wars and the endless saga of the UK-EU divorce. But none of these headwinds were a shock for an …

Global 100 – Letter from Silicon Valley

Global 100 – Letter from Silicon Valley

For reporters used to the profession’s usual cautious pronouncements, it is striking how enthusiastic California lawyers are about the outlook; in the Bay Area you can forget the caveats that still dominate in New York and London. ‘We are in this extraordinary period of extended boom,’ says Cooley’s San Francisco corporate partner Rachel Proffitt. ‘We …

Buckland becomes Justice Secretary as Johnson administration unveils Brexit-dominated team

Buckland becomes Justice Secretary as Johnson administration unveils Brexit-dominated team

The newly-installed British Government led by Conservative Prime Minister Boris Johnson will see a barrister take the role of Justice Secretary after Robert Buckland QC was appointed to replace David Gauke. Johnson announced Buckland’s appointment on Wednesday (24 July) as part of the new Prime Minister’s sweeping cabinet shake-up that saw all but four of …

‘Very encouraging’: RPC posts profit growth in shrinking partnership after splitting off consulting business

‘Very encouraging’: RPC posts profit growth in shrinking partnership after splitting off consulting business

RPC has reported revenues of £108.6m for its legal business for 2018/19 after selling half of its management consulting arm. The firm, which offloaded 50% of RPC Consulting to software company Marriott Sinclair in April 2018, announced today (25 July) that both like-for-like revenue and net profit for its legal arm alone rose 4% in …

Baker McKenzie steps up to associate pay war with 20% NQ salary uplift

Baker McKenzie steps up to associate pay war with 20% NQ salary uplift

Baker McKenzie has become the latest law firm to put its newly-qualified (NQ) solicitors in line for a six-digit pay package with an eye-catching 23% increase to its starting rates. The firm announced today (17 July) it is raising its basic NQ package from £77,000 to a minimum of £95,000, with performance-related bonuses bringing earnings …

Macfarlanes’ revenue continues to defy gravity but PEP holds steady

Macfarlanes’ revenue continues to defy gravity but PEP holds steady

City stalwart Macfarlanes has posted a mixed bag of financial results as the ninth consecutive year of revenue growth failed to translate into a rise in profit per equity partner (PEP) following last year’s 26% surge to £1.74m. The results announced today (10 July) show turnover grew 8% to £216.98m in 2018/19, a significantly slower pace …

NRF hires the mind behind Barclays radical panel shake-up to launch legal ops consulting arm

NRF hires the mind behind Barclays radical panel shake-up to launch legal ops consulting arm

Norton Rose Fulbright (NRF) is making an ‘offensive move’ against the Big Four on legal operations consulting with the hire of the well-regarded former Barclays’ head of external engagement, Stéphanie Hamon (pictured). The firm announced today (9 July) that Hamon, who quit the bank earlier this year, will join as a fee-earner in August to head …