* Does not include Gateley. See methodology.
Behind the numbers: profitability revealed
In this table we blend together the three key profitability metrics, profit per equity partner, profit per lawyer and profit margin, to discover which of the top 100 firms are the most profitable. The firms have been ranked according to their aggregate score across all three measurements. Continue reading “Behind the numbers: profitability revealed”
Legal Business 100 2017: Interactive main table
Legal Business 100: Main table
Sponsored by
Sponsored briefing: Disputes flare up in the oil and gas sector
Navigant’s Mark Taylor on the pressures that oil prices exert on contracts in the sector
We all know how the price of fuel at the pump can affect how individuals feel about their own prosperity. For producers in the oil and gas sector, oil price uncertainty is a substantial risk, since it has a direct bearing on a project’s return on investment. Assumptions about future oil prices always weigh heavily on investment decisions, but in recent years severely fluctuating prices have added economic risks for producers, on top of the inherently complex engineering challenges of exploration and production. Continue reading “Sponsored briefing: Disputes flare up in the oil and gas sector”
Revolving doors: Global 100 firms target key international markets as City sees recruitment lull
In a quieter week for lateral hiring in the City, Global 100 firms have been strengthening their international operations.
Mayer Brown partners Jochen Seitz and Peter Maier will move to Hogan Lovells’ international debt capital markets practice in Frankfurt. Continue reading “Revolving doors: Global 100 firms target key international markets as City sees recruitment lull”
Investment costs force insurer LV= to pull plug on legal services
In a further setback for insurers hoping to take advantage of the post-Legal Services Act landscape, Liverpool Victoria Friendly Society (LV=)’s legal arm has been discontinued less than two years after it was created through a partnership with Bristol firm Lyons Davidson.
In January 2016 the insurance company joined forces with Lyons Davidson to offer legal advice at a fixed rate for wills, power of attorney, probate, conveyancing, personal injury and employment law.
Continue reading “Investment costs force insurer LV= to pull plug on legal services”
‘A clear cut case’ – Ex-KWM employees win £1m pay-out from employment tribunal
After being on the verge of accepting a six-figure sum last month, a group of 288 former King & Wood Mallesons (KWM) employees have been awarded over £1m by an employment tribunal to settle claims from the collapse of the firm’s European arm.
The ex-staffers received the compensation award this week (20 September) following the failure of KWM to properly engage in a formal redundancy consultation during its much-publicised European insolvency.
Continue reading “‘A clear cut case’ – Ex-KWM employees win £1m pay-out from employment tribunal”
Hogan Lovells to handle appeal as TfL refuses Uber new licence
Hogan Lovells has been drafted in to advise Uber as the US-based ridesharing company launches a legal challenge to Transport for London’s (TfL) decision to not renew its private hire licence.
TfL today (22 September) issued a statement confirming that Uber will not be given another private hire operator licence after the current one expires on 30 September. Continue reading “Hogan Lovells to handle appeal as TfL refuses Uber new licence”
Belt and road: HSF secures China projects team from Pinsent Masons for huge infra push
China remains one of the most challenging markets to operate in profitably but the lure of its huge economy continues to lure investment from leading law firms with Herbert Smith Freehills (HSF) this week announcing the recruitment of three projects partners from Pinsent Masons.
The move – touted as positioning HSF for the Asian giant’s huge infra plans – sees the firm recruit Pinsents head of China Hew Kian Heong, who leaves Pinsents after 22 years. The Beijing-based construction and engineering specialist has advised China’s National Development and Reform Commission and is also an experienced arbitrator. Continue reading “Belt and road: HSF secures China projects team from Pinsent Masons for huge infra push”
The rise of the accountants continues as PwC launches in DC
PwC will continue to spearhead the push by the Big Four accountancy firms into the global legal services market with the launch of a law firm in Washington DC.
ILC Legal will open in the US capital later this month to service US multinationals in their business dealings overseas. Continue reading “The rise of the accountants continues as PwC launches in DC”
Magic Circle prove mettle as Tata and ThyssenKrupp agree €15bn steel JV
Following last month’s separation of Tata Steel’s business from the British Steel Pension Scheme (BSPS), Linklaters and Slaughter and May have been drafted in to advise on its much-anticipated €15bn joint venture with Germany’s ThyssenKrupp.
The 50:50 project received the green light as the firms signed a memorandum of understanding today (20 September) to launch an Amsterdam-headquartered joint venture consisting of a 48,000-strong workforce spread across 34 locations. A final agreement is expected to be signed in 2018. Continue reading “Magic Circle prove mettle as Tata and ThyssenKrupp agree €15bn steel JV”
‘Real estate up the agenda’: CMS brings across Paris team from Herbert Smith
CMS is continuing its global expansion with news that its French member firm has hired a two-partner real estate team from Herbert Smith Freehills (HSF) in Paris.
With the acquisition of Nabarro and Olswang in the UK having moved real estate up the agenda at CMS, 12 lawyers will join CMS Bureau Francis Lefebvre at the start of 2018. Continue reading “‘Real estate up the agenda’: CMS brings across Paris team from Herbert Smith”
Bar watchdog issues public apology to silk over Djibouti allegations
The Bar Standards Board (BSB) has today (19 September) issued a highly unusual apology to Serle Court’s Khawar Qureshi QC after the senior barrister was subjected to a year-long investigation over unfounded misconduct allegations.
The matter turned on Qureshi’s representation of East African republic Djibouti in a high-profile civil fraud case between the state and the businessman Abdourahman Boreh. In April 2015 another barrister involved in the proceedings made three allegations that the silk had misled High Court judge Justice Flaux.
Continue reading “Bar watchdog issues public apology to silk over Djibouti allegations”
Revolving doors: Osborne Clarke and Morgan Lewis make senior hires as City recruitment takes a breath
After an initial flurry of hires in September there has been a pause for breath, leaving Osborne Clarke (OC) and Morgan, Lewis & Bockius to bring in senior lawyers in the UK in recent days.
Pinsent Masons has seen financial services regulation partner Michael Lewis depart for UK top 25 rival OC. After a career which has spanned Norton Rose, Linklaters, Simmons & Simmons and a secondment as policy adviser to the Treasury in 2000/01, Lewis spent six years at Pinsents. OC head of business transactions Greg Leyshon said Lewis would help strengthen the firm’s financial institutions practice. Continue reading “Revolving doors: Osborne Clarke and Morgan Lewis make senior hires as City recruitment takes a breath”
Brexit boost continues for Dublin as Covington launches life sciences team in Ireland
A Brexit-driven boost to Dublin as a professional services hub has been much discussed and now appears to be materialising as Covington & Burling has confirmed that it is the second international law firm to launch locally following last year’s referendum vote.
The Dublin launch, which is still subject to regulatory approval, will focus on regulation, pharma and life sciences and be overseen by London-based EU life sciences partner Grant Castle and technology partner Daniel Cooper. Continue reading “Brexit boost continues for Dublin as Covington launches life sciences team in Ireland”
Hogan Lovells to shed 90 City jobs as law firms continue to transfer back-office roles to low-cost hubs
Pity the poor business support staff. A week after Pinsent Masons confirmed that it was consulting on cutting 100 non-legal jobs, Hogan Lovells has announced that around 90 roles in its London arm are likely to go as part of a restructuring of its business.
About 78 business service roles and 12 legal support roles will be phased out or transferred to the firm’s West Midlands legal service centre or South African global business services hub.
Top 100 firms defy Brexit upheaval with confident performance in first quarter of 2017/18
A lack of clarity on the state of Brexit negotiations together with tougher macroeconomic conditions don’t seem to have impacted the UK top 100 law firms which posted an average 8.5% increase in fee income for the quarter ending July 2017.
Deloitte’s quarterly legal sector survey showed the growth was largely due to a 7% increase in fees-per-fee earner at the country’s top players. However, despite this top-line growth, the growth in chargeable hours per fee earner at the top ten UK law firms was lower at 3%. Continue reading “Top 100 firms defy Brexit upheaval with confident performance in first quarter of 2017/18”
CMS signs up Saudi partners as White & Case brings in heavyweight Swedish duo
They are already two of the most globalised law firms in the business, but CMS and White & Case have announced fresh international investment this week with CMS securing a new partner in the Middle East as the US-bred giant makes significant hires in Sweden.
Four months after completing the largest legal merger in UK history, CMS is continuing its expansion after signing a partnership with Riyadh practice Feras Al Shawaf. Continue reading “CMS signs up Saudi partners as White & Case brings in heavyweight Swedish duo”
A first for everything: Ex-Linklaters partner breaks new ground with High Court appointment
As the profession’s liberal wing casts a sceptical eye over the Bar’s lack of diversity, former Linklaters capital markets partner Clare Moulder has made history by becoming the first female solicitor to be appointed to the High Court without practising as a barrister.
Moulder, who joined Linklaters in 1982 and made partner in 1991, will take her post on 2 October following the appointment of Sir Julian Martin Flaux to the Court of Appeal. Continue reading “A first for everything: Ex-Linklaters partner breaks new ground with High Court appointment”