Mayhew secures new four-year term at BCLP with Pritchard ineligible to run again

Mayhew secures new four-year term at BCLP with Pritchard ineligible to run again

Bryan Cave Leighton Paisner (BCLP) co-chair Lisa Mayhew has been elected to serve another four years in the role. Meanwhile, current co-chair Therese Pritchard was ineligible to serve another term and is to be succeeded by St Louis transactional partner Steven Baumer. The terms for Mayhew and Baumer begin 1 January 2020 and will run …

Pay for today: Slaughters boosts associate remuneration package to £100k as talent war intensifies

Pay for today: Slaughters boosts associate remuneration package to £100k as talent war intensifies

Slaughter and May is bolstering associate pay to a £100,000 including bonuses, becoming the latest of the City elite to play its hand on lawyer salaries. The move comes after Freshfields Bruckhaus Deringer and Clifford Chance (CC) both hiked their newly-qualified (NQ) pay to £100,000 in a bid to head off the ever-increasing threat from …

Fieldfisher reducing UK reliance following third consecutive year of double-digit growth

Fieldfisher reducing UK reliance following third consecutive year of double-digit growth

Fieldfisher is looking to further reduce the percentage of overall turnover generated in the UK following a year defined by geographic expansion. Turnover at the mid-market pace-setter hit £242m, up a better-than-expected 17% in the third consecutive year of double-digit growth at the firm. Profit per equity partner (PEP) rose 7% to £805,000, and has …

Return to growth for Stephenson Harwood as PEP rises 9% and revenue tops £213m

Return to growth for Stephenson Harwood as PEP rises 9% and revenue tops £213m

Stephenson Harwood’s profit per equity partner (PEP) bounced back from two consecutive years of decline, rising 9% to reach £727,000 as the firm’s top line grew 12% to hit the £213m mark. The results will come as a welcome improvement on last year’s performance, which saw steady revenue growth of 6% to £189m offset by …

Serious money: Elevate bolsters acquisition chest with $25m backing while Orbital Witness raises £1.2m

Serious money: Elevate bolsters acquisition chest with $25m backing while Orbital Witness raises £1.2m

Investment continues to flow into New Law and legal tech with US-based law company Elevate securing $25m in private equity backing while legal tech start-up Orbital Witness raises £1.2m. Elevate today (17 June) announced that private equity house Kayne Partners had injected $25m into the New Law pioneer in what is the first significant private …

Herbert Smith Freehills partner reported to SRA for threatening sexual harassment claimant

Herbert Smith Freehills partner reported to SRA for threatening sexual harassment claimant

A woman who filed a sexual harassment case against her employer was allegedly told by a Herbert Smith Freehills (HSF) lawyer the case would end her career. City finance associate Nathalie Abildgaard was awarded £270,000 in April after settling a sexual harassment case against her employer IFM Investors. However Abilgaard wrote in a submission to the …

Ticking boxes – Is City law going beyond the platitudes on ethnic diversity?

Ticking boxes – Is City law going beyond the platitudes on ethnic diversity?

‘People are so scared to talk about race in the UK,’ Linklaters senior partner Charlie Jacobs says. ‘They think it’s a landmine they’re going to walk straight into, so they’d rather avoid it entirely.’ A landmine – easy to lay but hard to get rid of – which has seen Big Law for years avoid …

Global Elite line up on Nestlé’s $10bn skincare business sale to EQT

Global Elite line up on Nestlé’s $10bn skincare business sale to EQT

Latham & Watkins is acting alongside US counterpart Kirkland & Ellis in advising EQT as the private equity house looks to acquire Nestlé’s skincare business, in what could be one of the largest transactions in Europe this year. Nestlé, which is being advised by Linklaters corporate partners David Martin and Michael Honan, confirmed talks with …

Revolving doors: Freshfields hire to leave DWF managed services role after less than a year

Revolving doors: Freshfields hire to leave DWF managed services role after less than a year

DWF’s New Law credentials have been dealt a blow as its managed services chief executive is set to leave the firm less than a year after his arrival in the first major exit since the firm completed its IPO in March. Anup Kollanethu was initially hired from Freshfields Bruckhaus Deringer, where he led the Magic …

Cash in hand: Slaughter and May to pocket £6m in fees for advice on failed hostile bid

Cash in hand: Slaughter and May to pocket £6m in fees for advice on failed hostile bid

Slaughter and May is set to receive over £6m in fees after advising sub-prime lender Non-Standard Finance (NSF) on its failed £1.3bn takeover of doorstep lender Provident Financial, which collapsed on Tuesday night (4 June) due to insufficient regulatory capital and a lack of shareholder support. The mandate for Slaughters was led by corporate head Andy …