Allen & Overy (A&O) and Slaughter and May have advised on the acquisition of British electronics company Premier Farnell by Swiss manufacturing giant Dätwyler for £615m.
The robots keep coming: DLA Piper makes major AI play with Kira software deal
Intent on driving automation throughout the business, DLA Piper has partnered with Canadian tech firm Kira Systems to launch an artificial intelligence tool for document review during M&A transactions.
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Bucking the trend: Shepherd and Wedderburn to re-enter Aberdeen with Pinsents hire
Despite predictions of doom and gloom around Aberdeen and its oil and gas offering, Scottish LB100 firm Shepherd and Wedderburn is bucking the trend and will re-enter the market with the recent hire of Pinsent Masons‘ John Rutherford as a consultant.
Magic Circle meets big four – A&O teams up with Deloitte for pioneering JV targeted at banking giants
In the first marquee joint venture between a Big Four accountant and a Magic Circle law firm, Allen & Overy (A&O) has teamed up with Deloitte to create a tech-driven service to help banks handle post-Lehman regulation.
US firms Simpson Thacher and Wilson Sonsini connect for Microsoft’s $26.2bn LinkedIn purchase
Simpson Thacher & Bartlett and Wilson Sonsini Goodrich & Rosati have advised on Microsoft’s acquisition of professional social network LinkedIn for $26.2bn.
Douglas to step down as CLLS boss ahead of new era of legal regulation
Alasdair Douglas will step down as chair of the City of London Law Society (CLLS) later this year as the legal sector moves closer to substantive reform of its representative bodies, with the government exploring making legal service regulators independent from their representative bodies. Continue reading “Douglas to step down as CLLS boss ahead of new era of legal regulation”
Turf wars continue as SRA reiterates need for separation from Law Society in response to Treasury money laundering regime
In its latest plea for independence, The Solicitors Regulatory Authority (SRA) is making its case for separation from the Law Society in its response to Treasury’s call for information on its re-evaluation of the anti-money laundering (AML) supervisory regime.
Revolving doors: Osborne Clarke and RPC strengthen City practices as WFW makes major New York hire
Several LB100 firms have announced a range of lateral hires this week, with Osborne Clarke, Watson Farley & Williams (WFW), RPC and DAC Beachcroft all adding new partners.
Holman Fenwick continues recruitment drive with HSF litigator Foster
Holman Fenwick Willan has recruited another key lateral to its City practice, this time with Herbert Smith Freehills (HSF) solicitor advocate and partner Christopher Foster.
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Financials 2015/16: Revenue growth slows at CMS as group posts 8.4% lift
CMS has reported revenue and profit growth for 2015, with turnover increasing 8.4% year-on-year to £735.2m, and profits up 6.8%. The revenue figure includes fees from CMS’s ten member firms which operate under the CMS brand as part of a European Economic Interest Grouping.
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Comment: The Legal 500 perspective on EMEA – more ways than ever to skin a cat
The shifting interests of international business are echoed in recent law firm moves across Europe, the Middle East and Africa (EMEA) and reflected in the recently published 2016 The Legal 500 EMEA, which added 15 countries to its coverage over the past two years to address growing interest in Africa, as well as the return of international work to jurisdictions such as Iran and Iraq.
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Guest post: US associate pay – welcome to the New Mediocre
‘New York To $190!’ was the long-running headline Above The Law printed frequently in more innocent and/or palmier days, with (we suppose) a combination of hope and bemusement. Well, Cravath’s pre-emptive strike of going to $180k didn’t quite get us there. Welcome to the New Normal – or the New Mediocre, the version I’m fond of because of its pith.
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Making it official: ISDA appoints Tew Darras to GC role six months after the departure of longstanding Geen
Three months after it was confirmed the International Swaps and Derivatives Association’s (ISDA) longstanding general counsel (GC) David Geen had stood down, the trade organisation has announced a replacement, appointing Katherine Tew Darras to the role.
‘It’s all over now’: Terra Firma drops £2.3bn EMI claim against Citi
Terra Firma Capital Partners has withdrawn its £2.3bn claim against Citigroup just days after the trial started at London’s High Court.
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Another lateral for White & Case as it appoints Freshfields finance partner Rubinoff
White & Case has continued its rapid recruitment drive, hiring Freshfields Bruckhaus Deringer real estate finance partner Jeffrey Rubinoff.
In-house: Transport for London extends current panel by two years
Transport for London (TfL) has extended its current panel by two years with a plan to re-tender in 2018, Legal Business understands.
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Updated: Keeping up with the US – Freshfields and Clifford Chance match Cravath associate pay rates
In a bid to compete with its US rivals, Freshfields Bruckhaus Deringer and Clifford Chance have followed in the footsteps of Cravath, Swaine & Moore, matching the salaries of its US-based associates, bringing pay to $180,000.
‘A fundamental change’: Bar Council sets out legal impact of Brexit in neutral report
The Bar Council has published an analysis of the impacts of Brexit in an attempt to provide a neutral analysis of the debate. Leaving the European Union would be ‘extremely complex’ with the need to introduce new rules if Britain is to remain in the European Single Market, according to the report.
Barclays panel latest: More firms to pay up as bank extends value account scheme
Barclays is planning to extend the value account system it introduced in 2014, where law firms are required to pay a rebate if they fail to hit their value targets, to all external advisers as part of its current panel review.
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‘A transformed business’: Mishcon de Reya unveils ten-year strategy
Following a year-long consultation with the partnership and external advisers, high-flying City firm Mishcon de Reya has revealed a refreshed business strategy for the next decade, with a target to lift UK revenue by 40% to £175m within the next three years. Unaudited figures for 2015/16 project revenue to be in excess of £125m.
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