Sustained investment and the costs of bedding down a merger impacted on profits at Penningtons Manches, which posted a lift in revenue but a tumble in profits per equity partner (PEP) for the financial year 2015/16.
Continue reading “Growing pains: ongoing investment sees PEP at Penningtons Manches tumble 16%”
An overwhelming majority of King & Wood Mallesons‘ (KWM) European and Middle East partnership has voted in favour of recapitalising the firm, committing £14m in a cash call to put it on a firmer footing.
Continue reading “Paying up: KWM partners vote to inject £14m of extra capital”
Commerical litigation heavyweights Travers Smith and Norton Rose Fulbright have been instructed by the administrators for Lehman Brothers International Europe and ExxonMobil Financial Services respectively as the parties battle it out at London’s High Court over a multimillion dollar loan.
Top 50 Legal Business 100 firms Charles Russell Speechlys (CRS) and Trowers & Hamlins have posted mixed results this reporting season, with the former recording a 21% rise in profit per equity partner (PEP) and the latter seeing partner profits fall 7%.
Despite both firms now being in merger talks with other suitors, Legal Business understands CMS Cameron McKenna and Addleshaw Goddard considered merging with each other earlier this year.
Pinsent Masons is to launch an infrastructure-focused practice in Johannesburg, with two partners hired from local firm Bowman Gilfillan.
Following his appointment as Freshfields Bruckhaus Deringer‘s first regional managing partner for the ‘rest of continental Europe’ – for offices excluding Germany, Austria and central and eastern Europe – Paris-based corporate partner Alan Mason (pictured) speaks with Madeleine Farman about his plans to shape the role.
Noted for introducing a more assertive style of management to Addleshaw Goddard since being elected as managing partner two years ago, it has emerged that John Joyce had to coax fixed-share partners to vote on recently agreed changes to the firm’s partnership deed.
Slaughter and May, Linklaters and RPC have all won spots on insurance giant RSA Group’s legal roster, following a review which saw the number of panel firms reduced from five to three. Continue reading “Slaughters, Linklaters and RPC win places on RSA’s reduced legal roster”
Norton Rose Fulbright has expanded its Africa offering by entering an alliance with Kenyan law firm Walker Kontos.
An uplift of between £5-10m from a settlement relating to the long-running Berezovsky litigation helped bump Addleshaw Goddard over the £200m turnover mark in 2015/16, Legal Business can reveal.
Continue reading “Berezovsky settlement revealed as ‘fee uplift’ to Addleshaws revenues”
Legal advisers on the sale of BHS have been labelled an ‘expensive badge of legitimacy’ in the report investigating the retail giant’s demise.
Continue reading “‘Expensive badge of legitimacy’: Olswang in firing line of BHS report”
A handful of US elite firms including Skadden, Arps, Slate, Meagher & Flom and Wachtell, Lipton, Rosen & Katz have taken roles in the much speculated sale of Yahoo! to Verizon. Continue reading “US elite take roles as Verizon emerges as Yahoo! buyer in $4.8bn deal”
Forecourt operator Euro Garages has recruited Imraan Patel, the former head of legal at Orange, as its first group general counsel and company secretary.
Continue reading “Euro Garages taps Orange for first general counsel”
UK and US firms have been busy investing in Europe this week, with Baker & McKenzie, Mayer Brown and Bird & Bird all adding to offices in Berlin, Frankfurt and Brussels.
Top-50 UK firm Burges Salmon has maintained a sixth year of growth increasing turnover 8% to £87.4m in the past year, up from £80.8m in 2014/15.
Continue reading “All upstream for Burges Salmon as regional leader posts 8% turnover growth”
Lloyds Banking Group has made Tom Spender its new general counsel (GC) for its litigation, regulatory and competition group after his departure from the Financial Conduct Authority (FCA).
In some of the strongest growth figures to come out this year, private wealth specialist Withers has lifted its top line figure up 21% to £161.5m.
Standard Life Investments (SLI) has added two firms to its real estate panel, with Maples Teesdale and Shepherd & Wedderburn joining CMS Cameron McKenna, Herbert Smith Freehills and Addleshaw Goddard.
Continue reading “In-house: Standard Life adds to legal roster after Ignis acquisition”
Withers has increased the number of lawyers promoted to partner, adding seven in its latest promotion round, with just one partner made up in the City.
Continue reading “Partner promotions: Withers ups the ante in latest round with seven made partner”
