Sponsored briefing: A risk checkup can help companies fight back against fraud

Sponsored briefing: A risk checkup can help companies fight back against fraud

Statistics show that in the UK alone, an estimated 7% of annual turnover is lost to fraud schemes, involving issues such as kickbacks, insider trading, financial statement and invoice fraud, bribery, and even the simple skimming and misappropriation of assets. It is estimated that fraud costs business in the UK over £110bn per year.

Fraud, like any serious disease, spreads if not treated early. It saps corporate reputations and finances, and in the worst cases can prove fatal to an organisation. Reputational damage, in particular, can be devastating. A loss of confidence by shareholders, customers, suppliers and regulators, as well as the potential of litigation in the wake of a fraud, can lead to a drop in share price from which a company may never recover. In addition, if it can be shown that a company’s directors and management have neglected their fiduciary responsibilities, they can be held personally liable for the loss incurred by the company. Continue reading “Sponsored briefing: A risk checkup can help companies fight back against fraud”

Sponsored briefing: With great funding comes great responsibility!

Sponsored briefing: With great funding comes great responsibility!

Jacqueline Young from Augusta Ventures discusses the challenge litigation funders face to balance support for access to justice with more commercial considerations

We operate in a strong and growing legal environment. The UK legal services industry is going from strength to strength. A recent report valued the market at £35bn in 2018, with growth forecast at 5% in the coming years. Continue reading “Sponsored briefing: With great funding comes great responsibility!”

City elite sees sharp increase in partner promotions and improved female promotion prospects

City elite sees sharp increase in partner promotions and improved female promotion prospects

Magic Circle takes a leaf from US playbook after a parsimonious 2018

This time last year, Legal Business was still lamenting that the post-banking crisis clampdown on promoting partners at City firms had showed little sign of lifting, with the Magic Circle in particular promoting at levels insufficient to sustain partnership sizes. Continue reading “City elite sees sharp increase in partner promotions and improved female promotion prospects”

A special situation – Macfarlanes overcomes lateral reluctance with rare spate of hires

A special situation – Macfarlanes overcomes lateral reluctance with rare spate of hires

Corporate partner Peter Baldwin joins the City outfit from Ropes & Gray

Traditionally reticent to engage in the lateral recruitment market, Macfarlanes has continued its recent flurry of hires, this time recruiting special situations and corporate partner Peter Baldwin from Ropes & Gray. Continue reading “A special situation – Macfarlanes overcomes lateral reluctance with rare spate of hires”

Prestige meets hustle – Slaughters sends jolt through start-up community with launch of tech incubator

Prestige meets hustle – Slaughters sends jolt through start-up community with launch of tech incubator

For years Slaughters epitomised City conservativism but, reports Thomas Alan, marquee clients and a clear structure mean its new law tech incubator is being closely watched

The value of legal tech incubators is much debated in the industry. The jaded in the tech community often decry such initiatives as marketing opportunities and even many start-ups themselves are sceptical, comparing some law firm incubators to ‘fish bowls’. Continue reading “Prestige meets hustle – Slaughters sends jolt through start-up community with launch of tech incubator”

Global expansion: Fieldfisher picks Dublin for seventh office launch in a year

Global expansion: Fieldfisher picks Dublin for seventh office launch in a year

Fieldfisher continues to build on what managing partner Michael Chissick describes as a strategy to be ‘in every commercial capital in Europe’, having opened in Dublin – its seventh new office since the beginning of 2018.

The mid-market pacesetter merged on 1 May with Irish firm McDowell Purcell to add the 25th office to its global verein. Led by managing partner JP McDowell, the 120-year-old firm counts 16 partners and 50 lawyers. Its regulatory practice is its core strength, while also operating in disputes, employment, planning, restructuring and insolvency. Continue reading “Global expansion: Fieldfisher picks Dublin for seventh office launch in a year”

Australia pull continues as Dentons, DWF and LOD announce expansion

Australia pull continues as Dentons, DWF and LOD announce expansion

Described in some quarters as an overlawyered market for a country with a population of 25 million, Australia continues to attract investment from the international legal industry in all its shapes and forms. Global giant Dentons, recently-listed DWF and New Law outfit Lawyers On Demand (LOD) have all expanded their presence in the country.

Just over two years after entering Australia through a merger with national firm Gadens, Dentons has hit the 280-lawyer mark in the country after absorbing Adelaide-based Fisher Jeffries. ‘This completes our footprint across the major cities in Australia,’ regional chair and chief executive Doug Stipanicev told Legal Business. Continue reading “Australia pull continues as Dentons, DWF and LOD announce expansion”

In-house round-up: New GCs for Royal Mail, Sky and Deliveroo

In-house round-up: New GCs for Royal Mail, Sky and Deliveroo

Royal Mail has filled the void left following former general counsel (GC) Maaike de Bie’s departure to easyJet, hiring in-house veteran Mark Amsden as its group GC and chief risk and governance officer.

Amsden was group GC and company secretary for Morrisons between 2013 and 2017, before a brief stint last year as interim company secretary at Yorkshire Water. Prior to going in-house, Amsden spent 14 years as a partner at Addleshaw Goddard, after starting out at Manchester firm Slater Heelis. Royal Mail has historically counted Addleshaws among its preferred external counsel. Continue reading “In-house round-up: New GCs for Royal Mail, Sky and Deliveroo”

Mind the gap(s) – more of the same old inequality and fudged statistics prevalent in Big Law

Mind the gap(s) – more of the same old inequality and fudged statistics prevalent in Big Law

The second season of gender pay gap reporting has again laid bare the stark disparities between men and women throughout the legal sector. However, with only two rounds of reporting to look at so far, the trajectory of pay equality in legal is still difficult to ascertain. Instead, conversations have turned to the value of reporting gender pay in of itself, particularly given the lack of common methodology in gauging the numbers.

These concerns are not new to the latest reporting round. In March 2018 Pinsent Masons senior partner Richard Foley (pictured) criticised the current regime’s lack of consistency in reporting benchmarks. The Law Society later in November 2018 called for uniformity in gender reporting, publishing guidelines on how firms could provide more clarity on the issue. Recommendations included firms distinguishing between equity and non-equity partners, publishing a full-time equivalent (FTE) compensation gap based on the full financial year and reporting on partner bonus schemes. Continue reading “Mind the gap(s) – more of the same old inequality and fudged statistics prevalent in Big Law”