Victoria Young reports on the diverse mix of law firms looking to take advantage as finance meets technology
UK Economic Secretary Harriett Baldwin isn’t holding back on the government’s ambitions for the fintech industry in the UK.
‘We are already a major player in financial technology; our ambition is now to be the major player – the leading fintech centre in the world,’ she recently said, ahead of announcing reviews of so-called ‘robo-advisers’ – online wealth management services.
The media lawyer talks about the diversity of London’s workforce and the handling of that Snowden story.
When interviewing for the client profile, in-house counsel will often list a slew of generic corporate M&A deals when citing what they consider ‘interesting work’. Guardian Media Group (GMG)’s longstanding group commercial legal director, Sarah Davis, is an exception to this.
Continue reading “Client profile: Sarah Davis, Guardian Media Group”
Cleary’s Sunil Gadhia and Paul Gilbert on the much-touted reforms of competition disputes
We have begun a journey into the unknown. The new collective action regime for competition litigation, which came into effect on 1 October, has set the market abuzz with speculation. For example, in the wake of the recent benchmark manipulation scandals, what impact will the new regime have for banks?
Continue reading “‘A watershed moment for enforcement’ – sizing up class action competition reforms”
Interviewed for our annual in-house report, general counsel at leading companies give us their views on diversity, ethics and joining the c-suite
LOOKING GOOD
‘When I was a young lawyer, I remember working with an outside counsel and I said to him: “What’s your job versus my job?” He said: “My job is to make you look good.” My thoughts at the time were that there has to be more to it than that, but for firms that have focused on that mission, there’s been an upside for me and them. Those with no clue, who are just looking to build their book of business, have not fared well with me.’
Wanji Walcott, senior vice president, managing counsel, American Express
While some US law firms have long ignored mounting pension liabilities, relying on annual profits to pay retirees, Shearman & Sterling has become the latest firm to alter its pensions system to limit future payouts.
Continue reading “Shearman abandons defined-benefit scheme to defuse pensions time bomb”
Allen & Overy and Freshfields Bruckhaus Deringer are among a handful of UK firms to win spots on The Chinese Ministry of Commerce’s (Mofcom) new legal panel.
Continue reading “Magic Circle firms join Chinese Ministry of Commerce’s bulked up legal panel”
Tim Coleman, a Washington DC-based disputes partner at Freshfields Bruckhaus Deringer, died suddenly yesterday (3 November), after almost six years at the firm.
Continue reading “Freshfields mourns death of veteran US litigator Tim Coleman”
Disillusionment within the England and Wales judiciary was laid bare by the findings of the UK Judicial Attitude Survey in February this year. Pay freezes, pension cuts and increased workload have evidently soured the mood at the bench.
The survey, carried out by the UCL Judicial Institute, indicated that 86% of judges who had been in the post for at least five years believed that working conditions had worsened since 2010. And nearly a third of judges are considering leaving their positions early in the next five years. Perhaps even more worryingly, a high proportion of judges said that reduced pension benefits (76%) and a reduction in income in real terms (69%) would discourage people from joining the bench.
US firm Morrison & Foerster has hired from Latham & Watkins‘ London corporate team again, this time appointing partner Vladimir Maly. The move follows the recruitment of former Latham private equity heavyweight Graeme Sloan in July.
Continue reading “Maly departs Latham to join former colleague Sloan at MoFo”
Linklaters’ New York office is on a lateral hiring spree by its own standards, with the Magic Circle firm following up its first US lateral in two years with its second in a week.
Chris Cole at Towry advises on financial planning.
Knowing where to invest your money can be a challenge, especially if you don’t have the time to be on top of what’s happening in the financial markets. It can therefore be tempting to invest your savings in areas
where you have a keen interest, in things like wine, art, classic cars or even violins as I heard recently.
However, while mixing hobbies and investment together may seem like a good idea, it can actually involve quite a lot of risk and may not help you achieve your long-term financial goals. Continue reading “Fine wine and classic cars don’t necessarily make vintage investments”
SLAUGHTER AND MAY WIPES £600M OFF BA SUIT
Litigators at Slaughter and May have successfully struck out around £600m from a claim against client British Airways. The airline is one of several airlines facing a cartel damages action from flower importer Emerald Supplies and 564 other shippers. In October the Court of Appeal disagreed with Justice Peter Smith’s decision to adjourn a strike-out application against the economic tort claims and reduced the £1bn claim to £400m.
While other major firms break their locksteps to bring in high-profile recruits, DLA Piper is going the opposite way, launching a review of its remuneration structure to encourage greater cross-selling throughout the firm.
Continue reading “Sharing the pie: DLA Piper launches meritocratic remuneration review”
BT’s in-house legal team has begun a wide-reaching strategic review on how to change its internal structure to bring its lawyers closer to the business, while the telco also prepares for its next panel review.
Continue reading “BT kicks off strategy review to overhaul internal function”
Ropes & Gray, Slaughter and May, Davis Polk & Wardwell and Sullivan & Cromwell have all picked up advisory roles as pharmaceutical group Shire moves to buy US firm Dyax.
Continue reading “Global 100 quartet line up as Shire continues acquisition spree”
Dentons announced last night (2 October) it intends to create a tripartite union with Australian firm Gadens and Singaporean firm Rodyk & Davidson, subject to partner approval.
Continue reading “Dentons to vote on new union with Australian and Singaporean firms”
We are delighted to sponsor the Disputes Yearbook, which now forms a central part of Legal Business’ wide-ranging and insightful disputes coverage.
There is no doubt that litigation continues to be a dynamic and rapidly developing sector of the legal market. Although there is a possibility that the improving economic climate will have a negative impact on a sector that is, to some degree, counter-cyclical, it is the rise in regulation and enforcement, and the rise in international arbitration, which show no signs of slowing and continue to drive the market.
Continue reading “Economic recovery will not lead to decline in the disputes sector”
Colin Passmore assesses a key ruling in the increasingly contentious area of legal privilege.
In June this year, the Hong Kong Court of Appeal held that the English Court of Appeal decision in Three Rivers (No.5) [2003] does not represent Hong Kong law. This is, of course, the 2003 English Court of Appeal decision well-known for the challenges it presents companies who wish consultations with their legal advisers to benefit from the protection of legal advice privilege.
Continue reading “Legal privilege: the ripples flow on still from Three Rivers”
Scottish firm Brodies is taking its private equity offering up a gear by hiring Freshfields Bruckhaus Deringer partner Karen Fountain as part of a double lateral hire into its corporate group.
Continue reading “Brodies hires Freshfields partner Fountain amid double corporate hire”
