Adoption is accelerating: legal tech start-up investment more than doubles to £61m in 2018

Adoption is accelerating: legal tech start-up investment more than doubles to £61m in 2018

Cash flowing into UK legal tech start-ups rose to £61m in 2018, a considerable increase on the previous year’s £22m, according to a Thomson Reuters report published today (16 October). Over a five-year period the increase is even more drastic, with just £1.5m invested into legal tech companies in 2014 according to the report, created …

Riverview Law and Pangea3 brands to be dropped following EY acquisition

Riverview Law and Pangea3 brands to be dropped following EY acquisition

Big Four accountancy firm EY is finalising the combination of its two high-profile acquisitions, Riverview Law and Pangea3, into one managed services business under the EY Law brand. The rebranding means that both Riverview and Pangea3, acquired over the last year, will be absorbed into EY Law’s global managed services delivery, while also keeping an …

Rigotti to stand down in 2020 as HSF starts search for a new leader

Rigotti to stand down in 2020 as HSF starts search for a new leader

Herbert Smith Freehills (HSF) CEO Mark Rigotti is to stand down from his role next year, with the firm now priming itself to select a new leader once his term ends on 30 April. The firm’s council will be the body appointing the new CEO, and is at the early stages of launching a selection …

‘They’re lying’: Muddy Waters retaliates as Burford ramps up stock manipulation claims

‘They’re lying’: Muddy Waters retaliates as Burford ramps up stock manipulation claims

The acrimony between Burford Capital and Muddy Waters has shown no signs of abating, with the litigation funder enlisting Quinn Emanuel Urquhart & Sullivan to chase the identities of traders who allegedly manipulated its shares. Quinn partner Richard East (pictured) submitted a statement to the High Court on behalf of Burford on Monday (30 September) which …

New Law, new money: UnitedLex turnover hits $350m with UK expansion on the cards

New Law, new money: UnitedLex turnover hits $350m with UK expansion on the cards

US New Law provider UnitedLex has bolstered its total revenue to $350m in its most recent financial results, with expansion across the UK and Europe is high on its agenda for the rest of the year. Turnover is up 27% on the company’s last set of financials, while UK revenue increased 8% over the last …

Asia coup for Bakers as partnership chooses Hong Kong’s Cheng as new chair

Asia coup for Bakers as partnership chooses Hong Kong’s Cheng as new chair

The partnership of global giant Baker McKenzie has voted in Milton Cheng to become the firm’s next chair. A Bakers lifer, Cheng (pictured) currently serves as the firm’s Hong Kong managing partner, as well as chief executive for the Asia-Pacific region. Cheng will officially take over the role on 17 October, replacing acting global chair Jaime …

Luminance creates new advisory board as senior lawyers line up to back legal tech start-ups

Luminance creates new advisory board as senior lawyers line up to back legal tech start-ups

UK legal tech company Luminance has established a new advisory board aimed at accelerating AI adoption by BigLaw, with Slaughter and May senior partner Steve Cooke and Vodafone GC Rosemary Martin part of the heavyweight line up. Cooke and Martin will sit alongside Italian law firm Portolano Cavallo founding partner Manuela Cavallo and former chairman …

Realistic: Eversheds sets new targets to combat paltry BAME partner numbers

Realistic: Eversheds sets new targets to combat paltry BAME partner numbers

Transatlantic firm Eversheds Sutherland has today (19 September) announced new targets to improve BAME representation across its UK partnership, with the firm’s current figures among the worst in the UK’s top 12. By 2025 the firm wants 10% of its UK partnership to be comprised of BAME lawyers, with the figure currently standing at just …

Private equity bidder closes in on Axiom break-off as sponsors continue New Law push

Private equity bidder closes in on Axiom break-off as sponsors continue New Law push

The private equity push into New Law looks to be gathering momentum with Axiom Managed Solutions (AMS) in talks to arrange a sale to MML Capital Partners. Legal Business has learned that the sponsor had been chosen as preferred bidder after AMS was put on the market earlier this year when the wider Axiom group …