The international arm of Hogan Lovells, which covers all offices outside the Americas, suffered an 11% fall in profits per equity partner (PEP) in 2014/15 as revenue and profits suffered.
Continue reading “Cash levels drop at Hogan Lovells as PEP dips below £700,000”
Clyde & Co rewarded its highest paid member 36% more, dishing out £1.8m in the 2014/15 financial year. the firm’s LLP filings show.
Continue reading “Clydes top-paid member took home 36% more in 2015, as firm’s profits rise”
Quinn Emanuel Urquhart & Sullivan and Simmons & Simmons have beat Stephenson Harwood in the first judgment delivered on the financial list since the specialist court opened late last year.
Simmons & Simmons is the latest firm to shake up operations in the Middle East, closing its Abu Dhabi office in a move which affects five lawyers including three partners.
Continue reading “Simmons & Simmons to quit Abu Dhabi as firm consolidates in the Middle East”
The Financial Conduct Authority (FCA) has launched a consultation on whether in-house lawyers need to be policed under the watchdog’s Senior Managers Regime, in an attempt to clarify uncertainties regarding the overall responsibility of an in-house legal function under FCA rules.
Ashurst is on the look-out for the firm’s next managing partner as current head James Collis is to stand down after completing his term at the end of May 2016.
UK law firm RPC has agreed a tie-up with Singapore firm Premier Law as it seeks out claims against the major banks. The joint venture is to go live on 1 May this year.
Continue reading “Access to Asia: RPC seals Singapore tie-up as it targets banking litigation”
Constituting a major blow to the Serious Fraud Office, a UK jury has acquitted six City brokers who were alleged to have helped manipulate the London interbank offered rate (Libor), just months after the high profile conviction of former banker Tom Hayes.
Continue reading “SFO fails to secure convictions of six City brokers in Libor case”
Here’s a transaction that did the rounds some years ago.
If I wanted some foreign exchange in the future I could enter into a contract with a bank by which it would sell me some. Assume that, in order to get a bank to promise to give me $2bn in twelve months, I had to promise to give it £1.5bn in twelve months.
Continue reading “Guest post: Do companies have a duty to avoid taxes?”
Kennedys has made two local partner hires in Miami in a move which will allow the firm to practice US law for the first time. US-qualified Neil Bayer and Dan Sanders will join Kennedys’ Miami office and will oversee the firm’s US advisory capability. The hires come as the firm aims to give ‘rise to new local growth opportunities and strengthen its London market capability’.
Freshfields Bruckhaus Deringer‘s highest-paid LLP member took home 68% more last year, pocketing £3.2m at the end of the 2014/15 financial year, compared to £1.9m the previous year.
Continue reading “Freshfields top-paid member takes home £3.2m in 2015, 68% more than year before”
More than two years after the government announced a wave of cuts to legal aid contracts, followed by continued calls by solicitors for their abolition, today (28 January) the Lord Chancellor Michael Gove (pictured) has made a surprise decision to scrap the radical two-tier contract regime.
Continue reading “Legal aid u-turn: Gove scraps two-tier contract regime”
King & Wood Mallesons (KWM) is to launch an office in Cambridge which will initially house a real estate team, as part of a cost-efficiency drive for clients.
Continue reading “King & Wood Mallesons opens Cambridge near-shoring office”
The Royal Bank of Scotland (RBS) has warned it will report its eighth successive full-year loss this year as it sets aside £2bn for past scandals including claims relating to mortgage-backed securities and payment protection insurance.
Continue reading “RBS plans ‘clean up’ and sets aside £2bn for PPI claims and US litigation”
Three of the nation’s most senior civil judges appeared before the justice committee of the House of Commons yesterday and condemned government plans to raise court fees.
Continue reading “‘Grave concerns’: Senior judges blast government over court fees”
As pension, sovereign and private equity funds rush to invest in prime London real estate, Linklaters has picked up a major client as Australia’s largest pension fund purchased a 42% stake in the £5bn redevelopment of King’s Cross.
US firm Latham & Watkins has hired Linklaters‘ German head of private equity Rainer Traugott as it continues its aggressive push into the European private equity market.
Rupert Murdoch-owned media giant News UK has recruited high-profile Kingsley Napley partner Angus McBride as its general counsel (GC), just months after its decision to re-hire former Sun editor Rebekah Brooks as chief executive.
Continue reading “News UK recruits Kingsley Napley partner McBride as general counsel”
Months after the UK government announced unexpected personal injury reforms, Slater & Gordon is consulting on the closure of two its UK offices, a move which could affect 51 staff.
Continue reading “Slater & Gordon plans closure of two UK offices”
Simpson Thacher & Bartlett, Wachtell, Lipton, Rosen & Katz, A&L Goodbody and Arthur Cox have all landed roles advising on the $16.5bn merger of industrial company Johnson Controls and security provider Tyco – a deal that will lower the new company’s tax bill.
Continue reading “US and Irish firms act on $16.5bn Tyco-Johnson Controls merger”
