Dentons LLP accounts for the UK, Middle East and Africa have revealed the firm’s revenue increased by 6% for the 2014/15 financial year to £157m from £148m, while overall profit before taxation climbed about 12% to £42.4m from £37.9m.
Continue reading “Dentons UKMEA posts 6% revenue lift as profit jumps 12%”
Latham & Watkins has hired the UK Competition and Markets Authority’s director of mergers Jonathan Parker as it rounds out its London offering.
Continue reading “Latham & Watkins lures CMA director of mergers to broaden London offering”
In its third year post-merger, Norton Rose Fulbright‘s LLP has revealed flat turnover of £391.7m while overall pre-tax profit rose by 2% to £112m from £109m for the year to 30 April 2015.
In a move that goes against its accelerated global expansion this past year, Dentons has promoted just 47 associates to partner in its 2016 round – with a hefty 79% located in the US and Canada – but just two in the UK.
Pinsent Masons‘ highest-paid LLP member took home 38% more last year than in 2013/14, as the firm posted double-digit growth across the board.
Everywhere I go in legal circles these days, people ask about Dentons. How incredible it would have been even 18 months ago that this child of a second-line Illinois player and the most battered City law brand of the 2000s would attract such interest. Much of that attention is aghast that this dismissed institution has emerged somehow after a remarkable 2015 as the world’s most lawyered firm.
Continue reading “Comment: Doing something radical – how Dentons sort of won me over”
In a busy week for international hires, several firms have made key team hires around the globe, with Stephenson Harwood, Clyde & Co and Milan all making appointments.
Candidates to replace Ashurst‘s global managing partner have emerged as Legal Business can reveal the board is using a headhunter to find external non-lawyers to be considered for the role.
Orrick, Herrington & Sutcliffe has become the latest US firm to announce its partner promotion round making up just one in London from a total of 19.
Continue reading “Orrick reports bumper promotions including one in London and more women than men”
Just weeks into his new role as Linklaters global head of banking, Tony Bugg told the firm’s 200 banking lawyers in London that a reorganisation will take place, with four group leaders introduced with greater power to set individual and group targets.
Continue reading “Linklaters incoming global banking chief reshuffles deck in shadow finance push”
Fieldfisher has bolstered its IP group and its life sciences practice with the hire of three partners from IP boutique Rouse, including veteran litigator Diana Sternfeld.
Continue reading “IP litigator Sternfeld departs boutique after 15 years to join Fieldfisher”
English lawyers have long had an edge over their US and continental colleagues. English law was established early as the law of trade, business and increasingly projects – a throwback to the days of the Empire. This was a major driver of growth for UK-based firms in recent decades, but it is well known that New York law has become a rival to English law, especially in banking and finance, as corporates tap into the deep US debt markets.
US firm revenue-season has begun with leading firm Paul, Weiss, Rifkind, Wharton & Garrison posting year-on-year growth. Revenues were up 7% in 2015 to $1.1bn from $1bn the previous year in what is the firm’s 16th year of record-breaking growth having broken the billion dollar barrier last year.
Continue reading “US financials 2015: Paul Weiss, Dechert, Goodwin and K&S all post strong results”
Eversheds‘ highest-paid LLP member took home £1.46m last year, an increase of 5% on the previous year, while turnover at the firm dipped.
Continue reading “Eversheds highest-paid member takes home 5% more as turnover dips”
Australia-listed Slater & Gordon‘s UK chief, Neil Kinsella, has retired and will be succeeded by the firm’s UK head of general law, Siri Siriwardene.
Continue reading “Slater & Gordon UK chief Kinsella retires amid turbulent period for PI group”
CMS, Eversheds and NRF also picked as Ashurst, Simmons and HSF miss out
Several London-headquartered law firms, including the entire Magic Circle, have won places on JPMorgan Chase’s panel for Europe, the Middle East and Africa (EMEA) following a review.
Bugg targets renewed growth for Linklaters’ finance team in shake-up at Silk Street
Just weeks into his new role as Linklaters global head of banking, Tony Bugg told the firm’s 200 banking lawyers in London that a reorganisation will take place with four group leaders introduced with greater power to set individual and group targets.
Continue reading “Linklaters’ new global banking chief reshuffles deck in shadow finance push”
Firm increases bonus pool and launches three-year lockstep for new partners
DLA Piper International partners have approved an overhaul of its pay structure, introducing a points-based remuneration system and a larger bonus pot as it targets greater profitability, while bringing in a separate lockstep for new partners while they grow their practices.
Continue reading “DLA Piper partnership votes to overhaul remuneration system”
Corporate veteran vows to maintain City focus when he succeeds Saul in May
The new senior partner at Slaughter and May, Stephen Cooke, has pledged to retain the firm’s City focus when he takes up his five-year term at the helm of the UK’s most profitable law firm in May.
2015 Legal Business Law Firm of the Year Osborne Clarke has continued its sound financial performance of the last few years, reporting impressive first-half results for 2015/16. The firm has outpaced its peers by a stretch, reporting a 25% rise in first-half turnover.
While not all firms disclose their revenues at the halfway point, Deloitte has found UK law firm revenues were up by an average of 4.5% for the first half of the financial year 2015/16.
Continue reading “Osborne Clarke still going strong as LB100 firms report first-half results”
