Making the switch is Ince’s managing partner for the Singapore region, John Simpson, and regional finance team head, Martin Brown. Simpson is set to move on 1 May 2019, while Brown will join on 1 November 2018. Stephenson Harwood has taken three partners from Ince this week.
Ashurst has become the latest City firm to review its trainee and newly qualified (NQ) salaries for the second time this year, upping the latter’s basic pay to £82,000.
The changes, which take effect on 1 November, give NQs a £6,000 salary hike from the £76,000 given during the last review in May, while a performance-related bonus could bolster compensation to £94,300.
City laterals were busy last week as an array of firms strengthened their London benches, while Dentons led the way abroad with a new Düsseldorf office.
Omar Al-Ali joined Reed Smith’s London office in the firm’s energy and natural resources group. Previously a partner at Simmons & Simmons, Al-Ali specialises in structured trade and commodities finance. He also counts ten years’ experience at Magic Circle firm Linklaters.
White & Case has promoted 41 lawyers to partner in its largest ever promotion round, with London seeing more promotions than the whole of the US.
The promotion round, effective from January next year, represents a 32% increase on last year, when 31 were minted. London sees 13 promotions, up from seven last year, and ahead of the 12 in the US. The overall round is one up on the firm’s previous record of 40 two years ago.
The trend of large firms dismissing partners for wrongdoing following internal investigations continues with Clyde & Co today (12 October) announcing the dismissal of a senior partner after investigating complaints of ‘inappropriate behaviour’ from two female lawyers.
The partner – based outside the firm’s City HQ – was dismissed by the firm on 28 September following an internal investigation. Legal Business understands that no non-disclosure agreements (NDA) have been signed in relation to the complaints, and that the firm has self-reported to the Solicitors Regulation Authority (SRA).
An under-wraps independent review of Baker McKenzie’s approach to a sexual misconduct incident six years ago has concluded there were ‘a number of shortcomings’ but details are scarce. Meanwhile Mark Hastings, the disputes partner sacked by Quinn Emanuel Urquhart & Sullivan earlier this year following ‘inappropriate behaviour’, has emerged at Mayfair boutique Grosvenor Law.
The high-profile Caridia joined Herbert Smith as a partner in May 2015 from Magic Circle firm Linklaters, where he worked for nearly ten years, latterly for two years as counsel. He started his career at CMS, and is expected to start at White & Case by the end of the year.
High-profile litigation funder Vannin Capital has shelved its planned initial public offering (IPO) only one month after announcing its intention to float, blaming volatile equity markets.
The move is a blow for the fast-growing litigation funder, which in September hired Allen & Overy veteran David Morley (pictured) as chair to spearhead the October listing, which would have seen £70m of new shares issued and some shares held by existing shareholders sold.
Slaughter and May and Kirkland & Ellis have led on the $12bn combination of UK Plc offshore drilling companies Ensco and Rowan Companies as Travers Smith and Eversheds Sutherland wrap up Legal & General’s £2.4bn buyout of Nortel Networks UK Pension Plan.
The drilling merger – an all-stock deal and a court-sanctioned scheme of arrangements – will see the shareholders of Ensco and Rowan own 60.5% and 39.5% respectively of the combined business.
It marks Knight’s second buyout since its £103.5m listing on the Alternative Investment Market (AIM) in June – the largest UK firm listing to date – with a deal for Manchester independent Turner Parkinson announced shortly after floating.