Bird & Bird has recorded its 26th year of turnover growth, with global revenues for 2016/17 up 5% in euros to €361m from €343.8m, which translates to a 11% increase in sterling from £273.8m to £303.2m.
A year after recording the standout financial performance of the Magic Circle, Freshfields Bruckhaus Deringer has posted flat turnover for 2016/17 with a top line of £1.33bn.
Dentons has revealed the 2016/17 financial results for its UK, Middle East and Africa (UKMEA) LLP, showing a 9% fall in profit per equity partner (PEP) in the region to £481,000 and a modest 1% increase in revenue to £166.4m. A year ago, PEP was £530,000 and revenue £165m.
Continue reading “‘More difficult UK market’: Dentons’ UKMEA PEP drops 9% as turnover slows”
Law Firm of the Year Mishcon de Reya has posted yet another outstanding set of financials for 2016/17, with turnover up 17% to £149.4m – meaning revenues have doubled since 2011/12 when the firm’s top line was £73.1m.
Continue reading “Financials 2017: Mishcon breaking targets again as revenue doubles in five years”
After a subdued 2015/16 financial year, Pinsent Masons has broken the £400m barrier with revenues up 11% from £382.3m to £423.1m in 2016/2017.
Skadden, Arps, Slate, Meagher & Flom and White & Case advised HgCapital as it led a consortium of investors purchasing €4.64bn of stakes in Norwegian software company Visma, in one of Europe’s largest ever software buyouts.
Eversheds Sutherland, Macfarlanes, DLA Piper and Allen & Overy (A&O) are advising on Australia-headquartered Link Group’s £888m purchase of UK-based Capita Asset Services (CAS), in an European expansion bid by the business services firm.
Baker McKenzie has made up 80 new global partners, bringing this year’s partnership intake to 139, while electing Matthias Scholz as Germany and Austrian managing partner for three years.
Global revenue at Linklaters was up 9.8% in 2016/17 to £1.44bn, a record high for the Magic Circle firm, although the leap was largely due to the strong euro and dollar and the weak pound. In constant currency terms, revenue rose 1.7%.
Kennedys, which yesterday (28 June) announced an 8% rise in revenue, has acquired Manchester-based Berg & Co, bringing the firm’s 50 staff into Kennedys offices in the city.
Continue reading “‘A complementary fit’: Kennedys acquires Manchester outfit Berg & Co”
Andrew Grech, Slater and Gordon (S&G)’s group managing director has stepped down with immediate effect today (29 June) as part of a recapitalisation deal replacing the firm’s entire board, in an attempt to shore up financial resources. Continue reading “Slater and Gordon managing director Grech steps down amid major recapitalisation plan”
DLA Piper has continued its expansion in Africa with the acquisitions of Tunisian firm El Ajeri Lawyers, based in Tunis and Senegalese firm GENI & KEBE, based in Dakar. Continue reading “DLA builds up African presence with Tunisia and Senegal firm buyouts”
With a core base of demanding clients facing an uncertain future, insurance specialist Kennedys will be relieved to have posted 8% revenue growth for the 2016/17 period, up from £138.8m to £149.9m.
Taylor Wessing has released further details of its financial performance in 2016/17, showing the modest 1.8% increase in its UK revenue to £128.9m resulted in a drop in its UK profit per equity partner (PEP) to £481,000, down 6% from last year’s £512,000.
Continue reading “Financials 2017: Taylor Wessing UK PEP down while global profit approaches £100m”
Fieldfisher, Capsticks and Capital Law have all won roles on the Solicitors Regulation Authority’s (SRA) inaugural general counsel (GC) panel, Legal Business can reveal.
The European Commission (EC) has today (27 June) fined Google €2.4bn for abuse of dominance as a search engine, illegally promoting its own comparison shopping service above others in breach of antitrust law, creating expectations of a raft of damages claims based on the finding.
DWF has bought up legal costs specialist NeoLaw in a deal which will see 21 people join DWF’s London and Birmingham offices, after it it acquired claims manager Triton this January.
Continue reading “DWF in acquisition mode as it swoops on legal cost business NeoLaw”
The Law Society and The Solicitors Regulation Authority (SRA) have launched a consultation on a proposed 4% cut from the practising certificate (PC) fee this year, proposing an individual rate of £278 per solicitor for the year 2017-18.
Continue reading “Law Society and SRA launch review to cut practising fee by 4%”
Ashurst has improved its revenues by 7%, following last year’s disappointing financial results, with an 11% boost to its profits per equity partner (PEP).
A steady pace of lateral hires continued into the second half of 2017, with Squire Patton Boggs and Addleshaw Goddard both taking on partners in the UK, Taylor Wessing in France and Goodwin Procter in Boston.
