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.
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US and Irish firms act on $16.5bn Tyco-Johnson Controls merger
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.
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Colt Group legal chief Saphra departs following structural review
Colt Group’s longstanding group general counsel Robin Saphra (pictured) has left the company following an internal structural review. He is succeeded by Caroline Griffin Pain, who becomes company secretary and legal counsel.
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Irwin Mitchell top earner pay falls as employee costs up 7%, accounts reveal
LB25 firm Irwin Mitchell has slashed the amount given to its highest paid earner by 30% from £1.22m to £849,000, despite a lift in profits, the firm’s accounts show.
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Revolving doors: Withers and Watson Farley make City hires as A&O boosts Frankfurt and New York practices
In a busy week for lateral hires, Withers and Watson Farley & Williams (WFW) have made appointments in the City while Allen & Overy (A&O) has boosted its German and US offices.
High Court cases against law firms down 47% in a year
The post-financial crisis wave of professional negligence suits against law firms appears to have passed, as RPC figures show a 47% drop in High Court cases against law firms last year.
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‘This is going to blow up’: tensions rise between the Law Society and the SRA as regulator seeks formal split
The ongoing dispute between the Law Society and the Solicitors Regulation Authority (SRA) has escalated after a row broke out over whether the regulator should formally split from the representative at Chancery Lane.
RSA group GC Walsh to depart as rising star Heiss appointed legal chief
Insurance giant RSA’s longstanding group general counsel and company secretary Derek Walsh (pictured) is to leave the company at the end of February after nearly six years, with Charlotte Heiss to succeed him in the new role of chief legal officer and company secretary.
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Addleshaws staff costs rise as firm ups partner rewards, accounts reveal
Addleshaw Goddard‘s staff costs rose 12% from £57,000 to £63,600 in the 2014/15 financial year, the firm’s filings at Companies House show, after it paid larger bonuses and salaries to its employees.
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International moves: Bonelli recruits A&O Italy senior capital markets partner while BLP makes double Dubai hire
Italian firm BonelliErede, the European best friend of Slaughter and May, has made a key hire with Allen & Overy‘s Italy senior partner, Massimiliano Danusso. Meanwhile, Berwin Leighton Paisner (BLP) has invested in its Dubai team with a double hire.
Macfarlanes sticks by management duo, reappointing Martin and Howard until 2020
In a conspicuously early move demonstrating confidence in its leadership, the partnership at Macfarlanes has re-appointed Charles Martin (pictured) and Julian Howard to the roles of senior partner and managing partner respectively for another three years.
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DAC Beachcroft takes £4m hit on failed IT project, LLP accounts reveal
National law firm DAC Beachcroft took a £4.39m hit on a failed IT project as it tried to change its case management system internally, accounts reveal.
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Trainee retention rates: Herbert Smith, Weil and Trowers release figures
Herbert Smith Freehills (HSF), Weil, Gotshal & Manges, and Trowers & Hamlins are the latest firms to publish their trainee retention rates, with HSF recording its third straight score over 90%.
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US banking results: Goldman Sachs quadruples annual legal spend as others cutback
The major US banks released fourth quarter 2015 results this week, with Goldman Sachs blaming poor profits on legal costs, as other lenders benefited from declining legal spends.
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Ashurst hires DLA Piper arbitration head Saunders to boost City practice
After a slow churn of lateral partner hires in Ashurst‘s London office, the Anglo-Australian firm has kick-started 2016 by recruiting DLA Piper‘s high-profile international arbitration head Matthew Saunders.
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‘Criminal capability’: Cooley makes key appointment with Sullivan & Cromwell litigator Delahunty
Cooley has kicked off 2016 with further hires to its now year-old London office, adding prominent Sullivan & Cromwell litigator Louise Delahunty (pictured).
KWM reviews capital contributions ahead of refreshed global strategy
Partners at King & Wood Mallesons (KWM) could be asked to inject more cash into the business as the firm considers alterations to its capital contributions structure.
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Magic Circle trio and KWM advise on Clydesdale float as owner makes cut-price share offer
Clifford Chance, Allen & Overy (A&O), Linklaters and King & Wood Mallesons (KWM) are advising on Clydesdale and Yorkshire Bank’s proposed initial public offering (IPO) as its owner National Australia Bank (NAB) announced a cut-price share offer ahead of the float – a move which could impact other IPOs in the market.
‘A real achievement’: Pinsent Masons tops Stonewall rankings for LGBT inclusive law firms
UK top 20 firm Pinsent Masons is the top law shop, and fifth best overall UK employer for LGBT staff according to Stonewall’s Workplace Equality Index.
Guest post: Knowing when to reinvent – the Aetna plan for business health
There’s a fascinating article in the December issue of the Harvard Business Review that ought to be required reading for the leaders and owners of the world’s leading law firms. Called ‘Knowing When to Reinvent’, the essay describes what I think of as the Aetna Corporate Health Test, one that managing partners might start taking each year along with an annual physical.
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