Disputes heavyweight Quinn Emanuel Urquhart & Sullivan has continued its impressive growth in the City, with revenue at the firm’s London office increasing 20% to £100.6m.
The US-bred firm also saw profits rise 11% to £67.2m, putting the office’s profit margin at 66.7%. The results cement Quinn’s place as ‘unquestionably the market leader in litigation-only practices in London,’ according to senior partner of the London office Richard East.
City hires picked up pace again last week after a fallow patch as leading firms made prominent additions to a number of key practice areas. Squire Patton Boggs hired to its private equity practice while Bird & Bird and Addleshaw Goddard strengthened their real estate benches.
Squires added to its global corporate practice in London with the hire of Stephen Ball. He joined the firm’s international private equity team as a partner from KPMG where he served as chief executive and vice chairman. Ball advises on financial services, risk, strategy and corporate governance for global banks, companies, private equity firms, hedge funds and governments.
Taylor Wessing has made 10% of its 270-strong City business services staff redundant, the latest in a string of firms moving support roles to lower-cost locations.
The UK top 20 firm announced the move today (7 February) following a consultation launched a year ago which affected up to 34 roles.
Eversheds Sutherland has lost its sole-adviser mandate to Severn Trent after the FTSE 100 water company appointed five firms to its new panel, with listed firm DWF the big winner.
Severn Trent, which had run a sole-adviser mandate with Eversheds for more than a decade, has appointed DWF as its retained provider of legal services to its operational businesses, including areas such as construction, commercial, employment, regulatory, disputes and litigation, intellectual property, and planning and real estate.
The Solicitors Disciplinary Tribunal’s (SDT) controversial decision to fine instead of ban Freshfields Bruckhaus Deringer partner Ryan Beckwith was because his misconduct was ‘a lapse in his judgement’ and ‘unlikely to be repeated’.
The SDT published today (4 Feburary) its judgment detailing its full reasons after the tribunal last October fined Beckwith £35,000 and ordered him to pay costs of £200,000 for engaging in sexual activity with a junior female colleague in circumstances in which she was ‘intoxicated to the extent that her judgement was impaired’.
Cooley has kicked off the February lateral market in London by returning to US rival Latham & Watkins for a capital markets hire as Harbottle & Lewis and Dechert also made plays.
Cooley hired from Latham’s capital markets practice for the second time in under a year, recruiting partner David Boles. He advises on international capital markets and securities regulation and represents investment banks, issuers and investors.
Skadden, Arps, Slate, Meagher & Flom continues to turn heads with its uncharacteristic hiring spree in London, this time in the form of Milbank restructuring partner Peter Newman.
A firm not famed for aggressive recruitment drives, the move is notable for being Skadden’s third London lateral recruit within the last six months, after it benefited from Allen & Overy’s failed US merger to add corporate partners Simon Toms and George Knighton last September.
Firefighters were called out to The Law Society’s headquarters over the weekend after a major fire broke out, damaging the historic building late on Saturday, 1 February.
The fire was brought under control early on Sunday, with no injuries sustained as a result. The alarm was sounded on Saturday night after the annual Junior Society dinner was held at the premises, 113 and 114 Chancery Lane in central London.
The management of Freshfields Bruckhaus Deringer has seen a 20% drop in pay even as its Asia business offered a silver lining with double-digit turnover growth.
Published today [31 January], the City giant’s LLP accounts for the financial year to 30 April 2019 make for subdued reading as the firm grew its top line by only 4.2% – or £61m – to £1.493bn from £1.432bn the previous year. Management pay fell from £18.6m to £14.9m.
Operating profits at CMS Cameron McKenna Nabarro Olswang rose 20% to £192.8m after the firm restructured its Hong Kong and Turkish offices, the LLP accounts have revealed.
Norton Rose Fulbright (NRF) also filed its LLP books this week (31 January), showing a £2m decrease in revenue in its EMEA business to £480.7m following a move to the US calendar year-end in 2018.