If it ain’t broke: Verrier gets fourth term as White & Case chair

If it ain’t broke: Verrier gets fourth term as White & Case chair

Hugh Verrier’s term as White & Case chair will extend to 16 years after he was re-elected for another four years. First elected to the helm in 2007, he will start his next stint in September, running until 2023. New York-based Verrier’s tenure has seen successive years of expansion recently, most notably in its London …

‘Mealy mouthed’ – Law Society draws fire for ethically ‘weak’ guidance on #MeToo gagging deals

‘Mealy mouthed’ – Law Society draws fire for ethically ‘weak’ guidance on #MeToo gagging deals

The #MeToo debate continues to garner stories with a legal slant as the Law Society’s recent practice note on the use of legal gagging contracts has been criticised for being vague to the point of unethical. Crispin Passmore, the former executive director of the Solicitors Regulation Authority (SRA), this week slammed The Law Society’s practice …

Inflection point – Ashurst steps back from the brink but can the revival last?

Inflection point – Ashurst steps back from the brink but can the revival last?

It was not all plain sailing,’ reflects Ben Tidswell, Ashurst’s chair, on the aftermath of its 2013 merger with Australia’s Blake Dawson. ‘But partners saw what we were trying to achieve and most wanted to be part of that. Now the firm is enjoying the success of that.’ Tidswell speaks with the palpable relief of …

City elite sees sharp increase in partner promotions and improved female promotion prospects

City elite sees sharp increase in partner promotions and improved female promotion prospects

Magic Circle takes a leaf from US playbook after a parsimonious 2018 This time last year, Legal Business was still lamenting that the post-banking crisis clampdown on promoting partners at City firms had showed little sign of lifting, with the Magic Circle in particular promoting at levels insufficient to sustain partnership sizes.

Travers female partner promotions suffer amid scaled back round

Travers female partner promotions suffer amid scaled back round

A firm more progressive than many in the City on gender diversity, Travers Smith has made up just one female partner in a four-strong promotion round that is significantly scaled back from last year. The City stalwart made up half the number of new partners as in 2018, when eight new partners were promoted, of which …

Shades of 2007: Freshfields sends NQ salaries soaring above £100k to head off talent threat from US rivals

Shades of 2007: Freshfields sends NQ salaries soaring above £100k to head off talent threat from US rivals

Freshfields Bruckhaus Deringer is fighting the war on talent by becoming the first Magic Circle firm to raise its pay for newly-qualified (NQ) solicitors to £100,000. The £15,000 salary uptick is symbolic, given the pressures imposed on the City elite by US competitors in recent years. There will also be a discretionary bonus on top of …

Freshfields partner on indefinite leave ahead of disciplinary tribunal hearing

Freshfields partner on indefinite leave ahead of disciplinary tribunal hearing

Freshfields Bruckhaus Deringer partner Ryan Beckwith is set to appear before the Solicitors Disciplinary Tribunal (SDT) next week having been placed on indefinite leave by the firm. The Solicitors Regulation Authority, (SRA) which referred the case to the SDT, is yet to publish the allegations but said it would do so in the next few weeks. …

A&O ups the ante on female partner promotions as Skadden ends City investment drought

A&O ups the ante on female partner promotions as Skadden ends City investment drought

Allen & Overy has promoted 14 London partners amid a scaled up 34-strong global round while Skadden, Arps, Slate, Meagher & Flom has promoted its first City partner in three years. The Magic Circle firm made heavier investment in new partners than last year and also significantly improved the promotion of women, minting eight females – …

Global London overview – Sharks in the fish pond

Global London overview – Sharks in the fish pond

In last year’s Global London overview, attention focused on three non-UK firms with more than 400 lawyers in the City. Now, the 500-lawyer barrier has been broken by Baker McKenzie and two rivals are not far behind. Many US firms are achieving London headcount and revenue growth that is leaving worldwide performance for 2018 – …