Shoosmiths has seen revenue rise 4% for 2015/16 to £107m, down on the firm’s double digit growth last year of 10%. In 2014/15, the firm saw turnover recover to near pre-2008 levels, reaching £102.7m. The latest results see the firm beat its 2007/8 record for the first time, when the revenues reached £103.4m.
US firms take roles as Melrose becomes first post-Brexit acquirer with $2.81bn Nortek purchase
In a post-Brexit referendum takeover which has seen turnaround group Melrose’s shares soar, Simpson Thacher & Bartlett and Weil, Gotshal & Manges have secured advisory roles as Melrose purchases US ventilation manufacturer Nortek in a deal worth $2.81bn.
‘Not where I’d like them to be’: Ashurst disappoints again with 10% revenue tumble
Ashurst has posted its second year of falling revenues following its merger with Blake Dawson in 2013 with turnover dipping by £28m, bringing the firm’s revenues down 10% to £505m.
HSF delivers best post-merger revenue performance yet with revenues up 7% to £870m
Herbert Smith Freehills (HSF) has put in its strongest financial performance since its creation in 2012 through the merger of the UK’s Herbert Smith and Australia’s Freehills, with revenue up 7% in 2015/16 to £870m.
Clifford Chance latest to partner with tech firm Kira as major players make AI push
Clifford Chance (CC) has become the latest firm to increase its investment in technology initiatives, announcing this morning (5 July) that it has entered into partnership with artificial intelligence (AI) provider, Kira Systems.
OneSavings Bank takes Santander’s Elphick for GC role
Former Santander head of banking legal Jason Elphick has joined OneSavings Bank as group general counsel and company secretary.
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Another one bites the dust: KWM’s former European head of finance leaves for Cadwalader
The partner exits at King & Wood Mallesons‘ (KWM) City office keep coming, with former Europe head of finance, Jeremy Cross, set to join Cadwalader, Wickersham & Taft.
Comment: GCs are just like private practice, so ‘Trust the lawyers’ won’t cut it for them either
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.
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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.
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‘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.
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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.
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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”