Watson Farley & Williams is the latest City firm to post robust revenue and profit figures in the face of adversity in the 2019/20 financial year. The firm said yesterday (29 July) that fee income was up 4% to £179.6m from last year’s £172.3m as profit per equity partner (PEP) saw a 3% uplift to …
Allen & Overy is confronting the must-solve issue of achieving ethnic diversity in City law with a raft of new targets aimed at levelling the playing field by 2025. The set of targets includes having 15% of partners and 25% of lawyers and support staff identifying as ethnic minority in the next five years.
Dealmakers could almost be forgiven for asking ‘what crisis?’ lately as a raft of recent major deals, including Centrica’s $3.6bn sale of its US energy business and Adevinta’s $9.2bn acquisition of eBay’s classifieds business, have kept Global 100 lawyers on their toes during lockdown. These major transactions, along with a raft of private equity deals …
After what has been an eventful year notwithstanding the havoc wrought by the coronavirus crisis, Freshfields Bruckhaus Deringer has closed out the Magic Circle reporting season by announcing a 3% revenue increase to £1.52bn and flat net profit at £685m. Profit per equity partner (PEP) stood at £1.82m, slightly down on last year’s £1.839m.
‘Not everybody gets corrupted. You have to have a little faith in people.’ The parting shot from Woody Allen’s iconic 1979 film Manhattan resonates among the Wall Street elite lamenting the increasing lure of megabucks within even the most clubby of partnerships. In a legal community renowned for its glacial pace of change, New York …
Continue reading “Letter from Manhattan – The $6.4m question”
London headcount: 121 lawyers, 19 partners Lawyer headcount change since 2014: 1% (-17% partners) London head: Litigation partner Sunil Gadhia sits on the 11-strong executive committee Office specialities: M&A, antitrust and disputes
London headcount: 144 lawyers, 28 partners Lawyer headcount change since 2014: 15% (-7% partners) London head: Pranav Trivedi Office specialities: M&A, arbitration, litigation and white collar
We had Skadden’s 30th anniversary party at Kensington Palace. Very cool. I’ve been here most of those 30 years. I took a year and a half off between high school and college in the States. I spent most of my youth surfing and had a dream to finish high school in Hawaii.
Cadwalader, Wickersham & Taft has become the latest firm to take drastic financial measures as the Covid-19 pandemic reaches new heights – suspending partner pay and cutting salaries elsewhere. The move comes as the number of confirmed cases of the virus in the US soared to nearly 200,000 today (1 April) and the number of …
Allen & Overy has pre-empted a likely financial hit from the coronavirus crisis with a host of measures, including altering profit distribution to partners, increasing partner capital levels and freezing some investments and recruitment. The firm confirmed today (31 March) what it described as ‘prudent management measures’ as part of its ‘ongoing scenario planning’ as the …
Continue reading “A&O takes coronavirus threat to task with raft of belt-tightening measures”
