General counsel pay still bolstered by bonus culture

The bonus, not the pay rise, was how companies rewarded the efforts of their general counsel (GC) in 2012. This reflects a changing rewards system for GCs, and caution from the managers who employ them. These are the findings from two recent studies on wages for in-house lawyers. The first survey from UK employment research …

Locke Lord’s lateral spree continues in London

US firm Locke Lord has continued its rapid expansion in London since launching in February this year with the addition of three more lateral hires within a few weeks. The arrival of Mayer Brown reinsurance litigator Ian McKenna at the end of October was followed by the hire of Fox Williams’ corporate finance partner James …

Korea legal market shows signs of saturation

With the recent influx of foreign firms into Seoul showing no signs of stopping, questions are being raised as to whether the market has reached saturation point and which firms will win the race for Korea’s most prestigious clients. Paul Hastings and Covington & Burling became the most recent firms to open new offices in …

In-house survey – Money for nothing

In-house survey – Money for nothing

In finding value for money, in-house lawyers rate quality of service very highly. Here we assess their attitudes to overlawyering, offshoring and global networks. The devil is in the delivery. While the cost of external legal advice is a priority for general counsel (GC), how that service is delivered to clients is no less critical. …

In-house survey: Redressing the balance

In-house survey: Redressing the balance

Despite constant talk that hourly billing is dead, our survey shows otherwise. In-house lawyers’ responses on fees contain a few surprises One of the standout findings of our survey is that hourly billing is still alive and kicking. The hourly rate is often used as a billing method by 59% of respondents, with just 4% …

Surge of law firm openings in revitalised Middle East

The resurgence of commercial activity in the Middle East is prompting international law firms to strengthen their presence in the region, with Cleary Gottlieb Steen & Hamilton and CMS announcing their first regional offices within a week of each other. Cleary announced at the beginning of September that it would be opening its first Middle …