Clifford Chance has retained 80% of its March trainees, with 43 out of a cohort of 54 accepting positions at the Magic Circle firm. The rate comes as rivals Allen & Overy and Linklaters also posted lower retention rates than the year prior.
Robot law: Deloitte estimates automation to cut legal sector jobs by 39% over the next two decades
A new report released by Deloitte is warning law firms to prepare for changes as the rise of automation is likely to cut legal sector jobs by 39% over the next two decades.
Budget 2016: Contract lawyer services avoid tax crackdown
City law firms using contract lawyers can breathe a sigh of relief, after Chancellor of the Exchequer George Osborne (pictured) said in his Budget today (March 16) that the government would not target the private sector in its crackdown on tax savings made by consultants through personal service companies (PSC).
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‘Not enough common ground’ – BLP and Greenberg call off transatlantic merger bid
It promised to create a property and disputes giant across the Atlantic and one of the most distinctive law firms in the global market but in the end the mooted union between Berwin Leighton Paisner (BLP) and Greenberg Traurig has been called off.
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Guest post: The case for legal advice privilege is not as strong as the profession wants it to be
Lord Neuberger (pictured), in a recent short speech, provides some interesting insights in to the problematic world of legal advice privilege (LAP), but he does so with one eye closed. Let me explain.
Freshfields disputes veteran Terry heads to the Bar
Freshfields Bruckhaus Deringer disputes veteran Ian Terry is leaving the Magic Circle firm after 38 years and heading to the Bar.
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Burges Salmon makes four partner promotions and adds Travers Smith partner to boost key growth areas
Top 50 UK law firm Burges Salmon has promoted four individuals to partner, and made one lateral hire from Travers Smith, in a move to build up what it sees as its key growth areas.
Half a million documents later: SFO drops forex investigation due to lack of evidence
The Serious Fraud Office (SFO) has dropped its investigation into allegations of rigging in the foreign exchange (forex) market after it found insufficient evidence to prosecute.
Comment: Too many reasonable men? What ails law firm leadership
As two of the most highly regarded leaders in the Square Mile – David Morley at Allen & Overy (A&O) and Chris Saul at Slaughter and May – prepare to hand over, it’s an apt moment to reflect on the state of leadership at leading UK law firms. It’s not clear that what emerges from the profession is all that flattering.
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Revolving doors: Eversheds takes Squire team in pensions play, while DLA Piper, Mayer Brown and Dentons make international hires
Eversheds has hired a trio of lawyers from Squire Patton Boggs, while DLA Piper, Mayer Brown and Dentons all added to their benches around the globe.
Mishcon secures another lateral hire from Addleshaw Goddard in continued disputes push
Mishcon de Reya has today (14 March) announced the arrival of former Addleshaw Goddard partner Sonia Campbell as it continues the steady expansion of its commercial disputes team.
Watchdog to raise bar on the Bar in toughened pre-vocational test
The Bar Standards Board (BSB) has stepped in to the long-simmering debate on costs and access to the profession to confirm it will toughen the Bar Course Aptitude Test (BCAT) amid controversy regarding 99%-plus pass rates.
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Guest post: How Boris Johnson is wrong on parliamentary sovereignty
Since I wrote about David Cameron’s ‘sovereignty plan’, it seems to have been forgotten. It’s clear the idea was aimed at keeping politicians in the Remain camp, and has failed.
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Comment: We must run just to stay in place – Macfarlanes’ head asks what it takes to be a partner in 2016
I confess the analogy is not perfect, but reflecting on the bizarre and often contradictory pressures on partners in law firms today brings to mind the world of Alice in Wonderland. Today, many question the appropriateness of the partnership model itself. They certainly question the strange, often opaque feudal master/servant process by which the aspiring lawyer serves their apprenticeship.
Linklaters ramps up associate salaries and rolls out flexible working after remuneration review
Magic Circle firm Linklaters has ramped up associate take-home pay after a lengthy review of its remuneration.
Legal heavyweights including A&O, Travers Smith, KWM and Simmons leaders back anti-Brexit report
A 250-strong group of lawyers including leaders from Allen & Overy (A&O), King & Wood Mallesons (KWM), Simmons & Simmons and Travers Smith have joined the ‘Lawyers – In For Britain’ group lobbying for the UK to remain in the EU.
Stewarts Law latest to develop trusts practice with Farrer hire
Litigation specialist Stewarts Law has hired James Price from Farrer & Co to launch a trusts litigation practice in the City.
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Comment: Why it’s time for the Law Society’s levy to go
There is a reason that the slogan ‘No taxation without representation’ has echoed through history. The rally cry of the American revolution demonstrates a basic truth that institutions and figures of authority hitting up constituencies for money without broadly representing their interests are in the long run asking for trouble.
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Dentons’ venture NextLaw Labs invests in fee transparency firm Apperio
Dentons‘ NextLaw Labs, a venture launched last year for financing new legal services technologies, has made its second major investment with legal tech start-up Apperio.
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Reed Smith blames poor energy prices as global revenues dip 2.5%
Reed Smith has reported global revenues fell 2.5% in 2015 to $1.12bn from $1.15bn, while profits per partner were lower by 8.1%, which the firm has said is due to poor commodity prices and early resolution of some litigation matters.
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