No-deal Brexit could trigger £3.5bn revenue drop in UK legal market

No-deal Brexit could trigger £3.5bn revenue drop in UK legal market

The UK legal services market could experience a 10% fall in revenue following a no-deal Brexit, according to a Law Society report, labelled by one City partner as ‘sensationalist’. The findings, published today (1 August), predict that the UK legal sector would see a £3.5bn decrease in turnover, as well as 10,000 job cuts, if …

Taylor Wessing quartet boosts flourishing Goodwin City office as O’Melveny losses stack up

Taylor Wessing quartet boosts flourishing Goodwin City office as O’Melveny losses stack up

The City offices of progressive US firms continue to set the tone for the London lateral recruitment market – a charge most recently exemplified by Goodwin Procter, which has secured a four-partner technology and life sciences team from Taylor Wessing. Goodwin hired Malcolm Bates, David Mardle, Tim Worden and Adrian Rainey in a move that …

PEP stays flat for Mishcon as revenue growth regains momentum

PEP stays flat for Mishcon as revenue growth regains momentum

Mishcon de Reya has maintained steady revenue growth in its 2018/19 financial results, increasing its top line by 10% to £177.8m, as profit per equity partner (PEP) remained flat. While the firm saw a greater revenue growth rate than the 8% uptick last year to £161.3m, PEP has failed to keep pace, with the flat result …

Ince merger pays dividends for Gordon Dadds as revenue and profit skyrocket post acquisition

Ince merger pays dividends for Gordon Dadds as revenue and profit skyrocket post acquisition

Gordon Dadds has posted a pace-setting set of results that have seen revenue and profit soar thanks to the addition of Ince & Co last year. The listed entity, Gordon Dadds Group Plc, saw revenue boosted 69% from £31.2m to £52.6m following its £43m acquisition of Ince. It is a positive set of results that come …

Stewarts’ PEP descends as revenue follows ‘non-linear’ growth path with 11% bounce

Stewarts’ PEP descends as revenue follows ‘non-linear’ growth path with 11% bounce

Stewarts Law has partly recovered from a 20% drop in turnover last year in what managing partner John Cahill described as a ‘very satisfactory’ year, although partner profits have continued to fall. The UK’s largest litigation-only firm increased revenue by nearly 11% to £69m in the 2018/19 financial year, following a 20% drop in turnover …

HFW ramps up litigation prospects with £25m funding deal and analytics partnership

HFW ramps up litigation prospects with £25m funding deal and analytics partnership

HFW has scored a litigation ‘win-win’ after adding both a £25m litigation funding deal and a litigation analytics partnership to its practice. The firm announced today it was partnering with both litigation start-up Solomonic, which launched commercially at the start of the year and uses court data for predictions and case research, and with litigation funder …

Spin-offs likely as Mishcon ‘considering all options’ for a capital raise

Spin-offs likely as Mishcon ‘considering all options’ for a capital raise

Mishcon de Reya is considering options for raising capital in a bid to fund its ‘ambitious plans’ for growth, including a possible initial public offering (IPO). Sky News reported on Saturday (20 July) the firm is looking to either list on the stock exchange or sell a stake to a private equity investor to raise …

Revolving doors: City move for Weil as HSF adds duo in South Africa

Revolving doors: City move for Weil as HSF adds duo in South Africa

In a quiet week for lateral recruitment, Weil, Gotshal & Manges hired from Ashurst in the City as other firms made notable moves further abroad. In London, Weil expanded its banking and finance practice with the hire of Paul Stewart, currently at Ashurst. Stewart has experience in domestic and international finance transactions as well as leveraged …

Two Clydes lawyers suspended for alleged financial breaches

Two Clydes lawyers suspended for alleged financial breaches

Clyde & Co has suspended two lawyers, including a partner, while alleged breaches of accounting rules are investigated. The firm said today it had recently referred two lawyers to the Solicitors Regulatory Authority (SRA) regarding alleged breaches of obligations in the SRA handbook, including its Code of Conduct and the Accounts Rules.

Dealwatch: Kirkland and CMS drink in $3bn pub group takeover as Slaughters and Latham analyse Moody’s disposal

Dealwatch: Kirkland and CMS drink in $3bn pub group takeover as Slaughters and Latham analyse Moody’s disposal

In the customary rush to get deals over the line before the summer lull, the City and US elite have this week lined up on big-ticket transactions including the sale of Moody’s Analytics to Equistone and Slug & Lettuce owner Stonegate’s $3bn acquisition of pub company Ei Group (EIG). Kirkland & Ellis fielded a team …