FRESHFIELDS BREAKS CITY LOCKSTEP TO BRING IN KIRKLAND’S McKIMM
Freshfields Bruckhaus Deringer’s hire of Kirkland & Ellis high-yield heavyweight Ward McKimm made waves in the City in June. Joining as co-head of European leveraged finance, McKimm’s salary is understood to be well above the firm’s City top of equity.
DWF OVERHAULS BUSINESS MODEL WITH SUITE OF NEW SERVICES
DWF launched four services as the firm adopted a more flexible delivery model. Led by Andrew Chamberlain, the new offerings include a contract lawyer service, a ten-strong consultancy unit, a new software product and a paralegal-staffed Legal Support Centre covering volume process-led work and stand-alone matters such as document review.
EVERSHEDS ENTERS NEW MARKETS WITH BELFAST LAUNCH AND ASIA SERVICE
Northern Ireland’s legal market saw another entrant as Eversheds launched an office in Belfast, headed up by projects partner Peter Curran and covering general commercial and public sector legal work. The firm also rolled out its flexible lawyer service, Eversheds Agile, in Hong Kong and Singapore with an initial pool of 20 to 30 lawyers.
BARCLAYS’ MICHAEL SHAW RESIGNS AS DEPUTY GENERAL COUNSEL
Barclays’ saw another departure from it senior legal team with deputy group general counsel Michael Shaw leaving after six years with the bank. Shaw, who was in the running to be named general counsel in 2013, joined Barclays at the end of 2009 from Herbert Smith and was a member of the bank’s citizenship council, legal senior leadership group and the disclosure advisory team.
BRAHAM WINS FRESHFIELDS SENIOR PARTNER ELECTION – PUGH AND EILERS TO SERVE AS CO-MANAGING PARTNERS
After a three-way contest, front-runners ex-corporate chief Edward Braham and former disputes head Christopher Pugh won Freshfields Bruckhaus Deringer’s leadership election, with Braham set to serve as senior partner, while Pugh will sit alongside Cologne-based former executive partner Stephan Eilers as joint-managing partner. Michael Lacovara, who is based in New York, will round off the team as executive partner.
BAKERS’ 83-STRONG PROMOTIONS ROUND SEES THREE MADE UP IN THE CITY
Baker & McKenzie announced its 2015 partner promotions, boosting this round from last year’s 65 to 83. Women made up 40% of the promotions, while the firm’s tax offering saw the greatest investment with 21 new partners. In London, three lawyers joined the now 1,500-strong partnership.
FRESHFIELDS FREEZES ASSOCIATE PAY BANDS, LAGGING MAGIC CIRCLE PEERS
Freshfields Bruckhaus Deringer decided to freeze salaries for junior lawyers at 2014’s levels. Pay for newly-qualifieds and one-year-post-qualification-experience lawyers – cumulatively known as career milestone (CM) foundation – is being frozen at £67,500-£77,500. The firm’s CM1 band will get £87,500-£100,000; CM2 will get up to £115,000; while CM3 is set at £120,000 or more.
WEIGHTMANS TO MERGE WITH LEEDS FIRM FORD & WARREN
National firm Weightmans revealed it is looking to establish an offering in Yorkshire, by merging with single-office, Leeds-based Ford & Warren Solicitors. The two firms are targeting July to have a merger completed, with formal contract negotiations underway in June. If successfully carried out, the merged firm will remain known as Weightmans, have 187 partners and a total headcount of over 1,400.