Are you a Capitulator? A Coaster? A Champion? Comfortably Numb perhaps? To an in-house profession used to having its qualities of leadership and innovation praised to the hilt, the recently-produced report on ethical standards among general counsel from UCL’s Centre for Ethics and Law is an awkward read. Continue reading “Comment: GCs are just like private practice, so ‘Trust the lawyers’ won’t cut it for them either”
Eastern Mediterranean expansion: Interlaw adds Rokas and Tohme to global network
Interlaw has expanded its global referral network by adding two new member firms from the eastern Mediterranean.
Continue reading “Eastern Mediterranean expansion: Interlaw adds Rokas and Tohme to global network”
IP UK
Brexit and the outlook for sports law
Sport is a multibillion-dollar global industry on a permanent growth trend. Football, that opiate of the masses, is the fastest growing sector of all. The European football market, says Deloitte, will exceed €25bn by 2017. While we may gasp at FC Barcelona’s record-breaking £120m-a-year deal with Nike, and at the fact that Sky and BT paid £5.1bn for three seasons’ worth of TV rights for the beautiful game, we know next year there will be another, bigger deal and more companies vying for opportunities to promote themselves across the world. For every sport there is a new record to be broken both on and off the field.
The future for Scottish firms
Brodies’ Bill Drummond on the way ahead for the firm
At this time of year, along with most managing partners, my focus is on financial matters. Our results are pleasing of course, reflecting the hard work of my partners and other colleagues, and the support of our expanding list of clients. However, profitability only tells part of the story and, as far as Brodies is concerned, is simply surface evidence of that hard work for clients.
Quinn acts on biggest UK lawsuit ever as MasterCard hit by £19bn claim
MasterCard has become the first big victim of new UK laws allowing US-style class actions, with litigation powerhouse Quinn Emanuel Urquhart & Sullivan bringing a £19bn claim against the financial services giant on behalf of British debit and credit card users hit with ‘illegal’ charges.
Continue reading “Quinn acts on biggest UK lawsuit ever as MasterCard hit by £19bn claim”
‘Very well-balanced’: Allen & Overy posts modest growth with revenue up by 2.3%
The first of the Magic Circle to report financials this year, Allen & Overy (A&O) posted another year of growth with revenue rising by a modest 2.3% to £1.31bn. Last year turnover had risen by 4% to £1.28m.
Continue reading “‘Very well-balanced’: Allen & Overy posts modest growth with revenue up by 2.3%”
Ashurst extends banking practice with KWM funds finance hire
Ashurst has continued to hire into its banking practice, appointing King & Wood Mallesons (KWM) partner Robert Andrews to its London office. Continue reading “Ashurst extends banking practice with KWM funds finance hire”
In transformation: KPMG’s Barton to rework legal team amid review of external firms
KPMG’s UK general counsel (GC) Jeremy Barton is leading a transformation of its legal team, while also reviewing the broad range of relationships that KPMG has with law firm suppliers.
Improved strategy sees Addleshaw Goddard post modest revenue bump of 5% for 2015/16
Following the pattern of other mid-tier firms, which have seen slower growth this year compared to the financial year 2014/15, Addleshaw Goddard has surpassed the £200m mark for 2015/16, with revenues up 5% to £201.8m.
Financials 2015/16: Clyde & Co posts double-digit revenue growth and record PEP
Clyde & Co has posted an impressive 13% increase in turnover, topping last year’s 9% revenue boost amid a year of slow growth for many LB100 firms.
Continue reading “Financials 2015/16: Clyde & Co posts double-digit revenue growth and record PEP”
Brexit challenged: Mishcon takes on article 50 action for mystery clients
Mishcon de Reya is preparing to launch a legal action over the triggering of article 50 and the process of Brexit, for a group of unnamed clients.
Continue reading “Brexit challenged: Mishcon takes on article 50 action for mystery clients”
Linklaters leadership shuffle: Senior partner candidate Comiskey made corporate head
Less than two months after missing out on the coveted senior partner role at Linklaters, Aedamar Comiskey has been made global head of the Magic Circle firm’s corporate division. Continue reading “Linklaters leadership shuffle: Senior partner candidate Comiskey made corporate head”
‘Questions remain’: Three former Barclays traders convicted in London Libor trial
The Serious Fraud Office (SFO) has secured a major win today (4 July) after three former Barclays traders were found guilty by a London jury of conspiring to fraudulently manipulate global benchmark interest rates.
Continue reading “‘Questions remain’: Three former Barclays traders convicted in London Libor trial”
Better together? – Those Anglo-Scots unions in focus
Legal Business looks under the bonnet to assess how the Scottish arms of Pinsent Masons and CMS have fared post-merger.
The ‘Better Together’ campaign, in favour of preserving Scotland’s union with the UK in 2014, maintained that Scotland was stronger as part of Great Britain, winning that particular argument by a margin of around 11%. But while the battle may have been won for now, a number of Scottish law firms are still wrestling with the decision of whether to tie-up with an English suitor – a fact most recently indicated by Maclay Murray & Spens’ aborted merger talks with Addleshaw Goddard in February.
Continue reading “Better together? – Those Anglo-Scots unions in focus”
Financials 2015/16: A more subdued performance from Pinsents with revenue up 5% and PEP growing 2%
Pinsent Masons has posted more subdued figures for this financial year, with revenue up 5% from £362.4m to £382.3m and profit per equity partner (PEP) rising 2% from £538,000 to £550,000.
Financials 2015/16: Scottish independent Brodies continues strong form with double-digit revenue and PEP growth
One of the big four remaining independent law firms in Scotland, Brodies has continued its strong form announcing revenue growth of 12% from £57.9m to £65.1m, while profits per equity partner (PEP) is up 13% from £532,000 to £602,000.
Revolving doors: Willkie and Hogan Lovells add to City offices while A&O continues Europe hiring
Law firms have attempted to blow away the Brexit blues with new partner hires. Willkie Farr & Gallagher and Hogan Lovells have added to their London offices, while in the Magic Circle Allen & Overy has expanded in Germany and Clifford Chance has boosted its Washington DC practice.
‘Key to success’: Grosvenor’s Schwarz-Runer takes on Boston Consulting Global GC job
The latest corporate to boost its in-house legal capabilities through a high-profile recruit is Boston Consulting Group (BCG) which has appointed Ulrike Schwarz-Runer from property development company Grosvenor as global general counsel.
Latham makes double real estate finance play with hires from GE Capital and Dechert
Latham & Watkins has boosted its real estate finance practice in the City, hiring Quentin Gwyer, who was executive counsel at GE Capital Real Estate. The appointment follows the hire of Jeremy Trinder from Dechert who started at the firm this week.
Parabis collapse update: Creditor dividend halved, latest report reveals
An administrators’ progress report for the now-defunct Parabis Group, published this week on Companies House, showed that unsecured creditors will receive only half of what was already a dismal return on their outstanding debts.
Continue reading “Parabis collapse update: Creditor dividend halved, latest report reveals”