Teams from Jones Day, Herbert Smith Freehills and Walker Morris have won mandates as Premier League football club Crystal Palace FC restructures in an ownership deal with US billionaires Josh Harris and David Blitzer which includes an initial £50m investment.
Stephenson Harwood pays 30% more to highest-earning member, latest accounts show
The highest-paid LLP member at Stephenson Harwood took home £1.3m during the last financial year compared to just over £1m the previous year – an increase of nearly 30% on what was paid in 2013/14.
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Clifford Chance executive committee group pay falls by 7% amid revenue and profit dip, LLP accounts reveal
Clifford Chance‘s (CC) 12-strong executive leadership group saw an average 7% decrease in pay packets in the last financial year while the firm’s revenue and profit fell, according to accounts filed at Companies House.
DLA Piper pay to highest earning LLP member nears £2m despite firm’s profit dropping
The highest-paid LLP member at DLA Piper International took home £1.96m last year, 8% more than the biggest payout last year, despite the firm’s profit dipping.
City focus: A quarter of Akin Gump partners made up in London in latest promotions round
Just over a year since US firm Akin Gump Strauss Hauer & Feld took over Bingham McCutchen’s $50m London office, the firm has made its largest ever number of partner promotions in the City, with three lawyers joining the partnership.
Guest post: What’s your theory of the business?
Year-end is often seen, understandably if somewhat arbitrarily, as a time for reflection. Actually, in my book there’s never a bad time for reflection, so I’ll take an arbitrary peg over no peg.
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Dealwatch: Freshfields acts for Deutsche Bank as it sells ¥25.7bn of Chinese assets
After winning a place on Deutsche Bank’s global legal panel last year, Freshfields Bruckhaus Deringer is representing the German bank on the sale of ¥25.7bn of its Chinese assets.
Making the list: Former A&O and Slaughters lawyers Beringer and Randell awarded CBE
A host of figures within the legal profession including former Allen & Overy (A&O) senior partner Guy Beringer QC (pictured) have been recognised in 2016’s New Year honours.
Checking in: Freshfields and Stephenson Harwood advise on £1.3bn sale of the Priory
Freshfields Bruckhaus Deringer and Stephenson Harwood have led on the sale of the Priory, the rehab clinic known for its celebrity clients, having treated the likes of supermodel Kate Moss, pop star Robbie Williams and rocker Pete Doherty.
Twice as nice: Fieldfisher doubles pay to highest earning member, LLP accounts reveal
The highest-paid LLP member at Fieldfisher took home £1.24m last year, almost twice as much as last year, following back-to-back years of strong revenue growth for the firm.
Comment: The 2015 edit – our favourite Legal Business pieces from this year
As the Christmas wind-down approaches inertia, in time-honoured tradition along with ghastly jumpers and inappropriate comments on social media, we signal the closing down of Legal Business HQ with a look back at the stories that made our year.
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Revolving doors: A&O and Linklaters make key lateral hires as Clydes picks up Aussie team
Allen & Overy (A&O) has made a key hire for its US securities practice with David Flechner joining the firm’s New York office. Flechner joins from Cleary Gottlieb Steen & Hamilton where he worked for a decade.
Property panel: Freshfields, Herbert Smith and Addleshaws make British Land roster
Magic circle heavyweight Freshfields Bruckhaus Deringer has joined Addleshaw Goddard, Herbert Smith Freehills, Jones Day, King & Wood Mallesons, Mayer Brown and Simmons & Simmons on British Land’s first panel.
‘A powerful message of deterrence’: Court of Appeal dismisses Libor scandal trader Hayes’ appeal, while reducing sentence
In a decision that will provide little comfort for those facing similar charges, the Court of Appeal has refused the appeal of former derivatives trader Tom Hayes, who in August was found guilty of manipulating the London Interbank Offered Rate (Libor).
Comment: After the Harvard Kool-Aid and lost years can Moore galvanise Linklaters?
Allen & Overy‘s veteran leader David Morley remarked sometimes that in running a law firm, success or failure is less about the decisions you make and more the ability to communicate what you are doing and why. Though directed at his own firm, the observation speaks to much of what ailed Linklaters over the last four years as a chasm opened between its leadership and partnership.
US partner promotions: Jones Day makes up two in London from 47-strong round
Jones Day has become the latest US firm to announce its partner promotion round with 4% of the 47-strong round making the ranks in London.
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Guest post: Law firms going public – one way to stop a Dewey-style run on the ‘bank’?
It has become commonplace – I have bowed to convention and endorsed the notion myself – to observe that law firms are labour not capital – intensive, and that (here’s the dangerous and subtle segue) therefore there would be no benefit to them in taking on outside investors, much less going public.
In-house: Singh steps down from GC post at Indian energy giant Essar Global Fund
Raminder Singh, the London-based general counsel and chief compliance officer of Indian conglomerate Essar Global Fund Limited (EGFL), the holding company for Essar Energy, is to depart at the end of the year.
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Closing Cologne: Freshfields restructures German offices to create broad offering
In a bid strengthen its platform in Germany, Freshfields Bruckhaus Deringer is closing its Cologne office, with the bulk of its staff transferring to the firm’s existing Düsseldorf outpost.
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In-house: Morton Fraser big winner as firms line up for Edinburgh City Council panel
Morton Fraser has picked up four places on Edinburgh City Council’s £3.1m panel, being appointed alongside larger firms such as Pinsent Masons and CMS Cameron McKenna.