Kirkland breaks $5m PEP and outguns Latham again to stay world’s highest-grossing firm

Kirkland breaks $5m PEP and outguns Latham again to stay world’s highest-grossing firm

Kirkland & Ellis has hiked revenues by more than $500m to remain the world’s highest-earning law firm, as global turnover surged to $3.76bn. The Chicago-bred giant today (21 March) revealed results for the 2018 financial year, confirmed a 19% hike in revenues against $3.165bn the previous year. Profit per equity partner (PEP) topped $5m for the …

Dechert rebuilds City leadership with dealmaker Field as Black takes helm

Dechert rebuilds City leadership with dealmaker Field as Black takes helm

Dechert has taken strides to fortify its depleted London management team, adding private equity partner Chris Field and naming Gus Black as its chair. Funds specialist Black (pictured) is global co-chair of Dechert’s financial services group and has been a member of the London management committee since its inception in 2016. Corporate partner Field was hired into …

Calls for a ‘radical overhaul’ of NDAs as #MeToo saga prompts UK gagging order law reform

Calls for a ‘radical overhaul’ of NDAs as #MeToo saga prompts UK gagging order law reform

The government has proposed new legislation that would make it illegal for employers to use gagging orders to prevent the reporting of sexual misconduct in the workplace to police. The move, announced by business minister Kelly Tolhurst today (4 March), comes as #MeToo continues to rage in the legal profession and beyond after the use …

Watson Farley & Williams makes major City energy play with Clifford Chance Africa director

Watson Farley & Williams makes major City energy play with Clifford Chance Africa director

Watson Farley & Williams (WFW) is set to hire Titus Edjua, director of Clifford Chance’s (CC) Africa group, to boost its project finance capabilities. According to a source, one other lawyer is due to be joining WFW from CC as part of the same move, but this has not been confirmed by either firm. He is set …

Deal watch: Big cheeses land £975m Dairy Crest deal as Slaughters acts on £1.3bn Provident hostile takeover

Deal watch: Big cheeses land £975m Dairy Crest deal as Slaughters acts on £1.3bn Provident hostile takeover

The UK buyout market had an uncharacteristically frenetic week with City M&A counsel taking the lead on a £1.3bn unsolicited bid for doorstep lender Provident Financial and the £975m recommended offer for UK cheese and spreads stalwart Dairy Crest Group on the same day. The hostile bid for sub-prime lender Provident was launched at 7am …

‘Investing in strength’: Akin Gump’s City turnover spikes 28% amid restructuring bonanza

‘Investing in strength’: Akin Gump’s City turnover spikes 28% amid restructuring bonanza

The London office of Akin Gump Strauss Hauer & Feld has recorded a 28% revenue hike to $123.5m. The City results, with revenue up from $96.2m, mark a blistering year on the back of a swathe of big-ticket transactions in the financial restructuring space and stand out against the more muted firm-wide revenue uptick of 3% …

Taylor Wessing to enter alliance with West Coast leader Wilson Sonsini

Taylor Wessing to enter alliance with West Coast leader Wilson Sonsini

Taylor Wessing is entering into an alliance with Silicon Valley firm Wilson Sonsini Goodrich and Rosati. The UK top 20 firm confirmed to Legal Business today (18 February) that its global partnership has approved proposals for the two firms to co-operate on transactional work in tech and life sciences. It will see its lawyers work together …

From pavements to sidewalks: PE star Mahon’s move to Simpson Thacher melts CC hearts to stone

From pavements to sidewalks: PE star Mahon’s move to Simpson Thacher melts CC hearts to stone

The success of Simpson Thacher & Bartlett where others have failed in luring Clifford Chance (CC)’s Amy Mahon to the other side has dealt a blow to CC’s corporate practice and other US firms vying to hire her. Mahon – who in Legal Business last year told of her long-standing grievance with popstar Adele after …

Defying gravity – Inside the improbable rise of Travers and Macfarlanes

Defying gravity – Inside the improbable rise of Travers and Macfarlanes

‘If you look at Wall Street, this model is replicated again and again. There is no reason it shouldn’t work in the UK.’ David Patient, now seven months into his second term as Travers Smith’s managing partner, responds philosophically to this Legal Business comment on the performance of his firm and Macfarlanes: ‘If two firms …

Beyond barbarian: Kirkland signs PE’s most wanted

Beyond barbarian: Kirkland signs PE’s most wanted

If the news in late 2017 that Freshfields Bruckhaus Deringer private equity veteran David Higgins was joining Kirkland & Ellis was an insult to his Magic Circle firm, the announcement barely into 2019 that Kirkland was following up with his colleague Adrian Maguire looks like grievous injury. The record-breaking transfer of Higgins was a symbolic …