A trio of City heavyweights has been appointed among 107 new Queen’s Counsel (QC) announced today (11 January), an increase on last year’s round of 93.
Partner promotions: Reed Smith focuses on London in 24-strong round, as MoFo promotes just one in the City
London dominates the latest promotions round at Reed Smith, with a quarter of the 24 newly-made partners at the US firm based in the City, while Morrison Foerster has promoted one in London in a round of 12.
Holman Fenwick Willan posts revenue and profit slide in latest LLP accounts
The latest to emerge in a run of recent LLP filings is Holman Fenwick Willan, which has seen its revenue dip 5% to £139m from £145m while operating profit fell by 16% to £49.9m from £59m.
Continue reading “Holman Fenwick Willan posts revenue and profit slide in latest LLP accounts”
‘Not unexpected’: SFO asks for extra funds for fourth time in as many years
Prosecutors at the SFO have made another request for cash, seeking an additional £21.1m for ‘blockbuster’ cases, after making a £10m request in June last year. The SFO’s core funding budget for 2015-16 is £33.8m.
Continue reading “‘Not unexpected’: SFO asks for extra funds for fourth time in as many years”
Trainee retention: Slaughter and May and Nabarro up their intakes for spring 2016
Slaughter and May and Nabarro improved their trainee retention figures this month with the latter firm retaining 89%, while the Magic Circle firm posted a 95% retention rate.
Continue reading “Trainee retention: Slaughter and May and Nabarro up their intakes for spring 2016”
‘Tremendous experience’: City M&A heavyweight Steve Cooke elected as senior partner at Slaughter and May
Slaughter and May, the UK’s most profitable law firm, has elected its longstanding head of M&A Steve Cooke as its next senior partner.
Further scrutiny: Banks order investigative review of Slater and Gordon’s books
Australian-listed Slater and Gordon is facing further inquiry as the company’s lenders have appointed their own investigative accountants to look at the firm’s books.
Continue reading “Further scrutiny: Banks order investigative review of Slater and Gordon’s books”
Responding to demand: Dentons hires 75-strong Matthew Arnold & Baldwin banking litigation team
Dentons has (7 January) confirmed the hire of Matthew Arnold & Baldwin‘s (MAB) 75-strong banking and finance litigation team, including 11 partners and 64 fee earners.
C-suite roles at Allen & Overy take home 9% more last year as firm raises revenues
Allen & Overy‘s (A&O) senior partner and managing partner, global practice heads and support directors took home £1.1m more in the financial year ending 30 April 2015 than the year before, the Magic Circle firm’s latest LLP filings show.
Skadden and Freshfields top global deal tables as M&A figures reach record heights
In a record year for global M&A, US firm Skadden, Arps, Slate, Meagher & Flom and Magic Circle firm Freshfields Bruckhaus Deringer were the top performers in the US and Europe respectively, according to Dealogic’s 2015 league tables.
‘Tight controls’: LLP filings show strict financial management helps boost Simmons profitability
Benefitting from a resurgence of financial work in the City in 2014/15, Simmons & Simmons acted prudently to boost its profitability and reduce debt, its LLP filing shows.
Cutting back: CMS Cameron McKenna, Burness Paull, HSF and Bakers land spots on Weir’s two-tier panel
Scottish engineering business Weir Group has appointed Burness Paull and CMS Cameron McKenna to its first ever European panel following a competitive tender process while Herbert Smith Freehills (HSF) and Baker & McKenzie have been gifted with advisory roles on its global legal roster.
Failure to integrate: Administrators blame poor consolidation for Parabis collapse as unsecured creditors to lose almost £50m
More than 2,500 unsecured creditors of the now defunct Parabis Group will lose almost £50m, a report from the company’s administrators reveals.
New year promotions: Hogan Lovells upgrades City quintet to partnership in 24-strong round
Hogan Lovells today (5 January) announced 24 associates have joined the partnership, including five in London, mostly across the firm’s corporate, disputes and government regulatory practices.
Disputes drive: Baker & McKenzie hires Hogan Lovells litigator Lyons
Baker & McKenzie‘s push in the UK disputes arena has continued into the new year with the hire of Hogan Lovells stalwart Hugh Lyons.
Continue reading “Disputes drive: Baker & McKenzie hires Hogan Lovells litigator Lyons”
Match of the Day: Jones Day, Herbert Smith and Walker Morris score roles on Crystal Palace FC investment
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.
Continue reading “Stephenson Harwood pays 30% more to highest-earning member, latest accounts show”
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.