After having carried out two redundancy rounds over the year, Hill Dickinson has seen its revenues for 2014/15 fall 6% from £112m to £104m while profit per equity partner (PEP) is down 4% from £271,000 last financial year to £261,000.
University of Law brings in Lord Grabiner as president following chief exec’s departure
In its reshuffle of senior management, The University of Law (ULaw) has appointed Lord Grabiner QC (pictured) as president after the departure of the incumbent-holder and chief executive, John Latham, by ‘mutual consent’.
Kirkland picked to defend Baxalta as Slaughters and Ropes take the lead on Shire’s $34bn hostile takeover
Shire has turned to longstanding adviser Slaughter and May in the UK while Ropes & Gray won the mandate in the US as it looks to takeover rival drug company and Kirkland & Ellis-client Baxalta in a hostile $33.9bn deal.
SFO opens investigation into Quindell as company revises 2014 legal profits down by £312m
The Serious Fraud Office (SFO) has confirmed that it is investigating Quindell’s ‘business and accounting practices’ as the company published revised annual accounts for 2014 showing a £312m swing from profit to loss in its Professional Services Division (PSD).
ULaw’s chief exec departs as university woos students with job guarantee
The University of Law’s (ULaw) chief executive John Latham has left the institution by ‘mutual consent’ after having lost several key clients to rival BPP and as the university seeks to win more business from students without training contracts by offering a money-back guarantee.
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Simmons & Simmons to shut Rome office as firm focuses on ‘doing it all out of Milan’
Simmons & Simmons is set to shut its nine-partner office in Rome following a ‘detailed review’ and focus on clients in Italy’s industrial heartland in the north of the country.
Europe’s re-emerging CLO market sees Sidley and Ropes turn to Weil Gotshal to boost structured finance teams
Weil, Gotshal & Manges‘ structured finance practice in the City has been hit by the departure of two lawyers with partner Rupert Wall heading to Sidley Austin and senior associate Chris McGarry making partner at Ropes & Gray.
Cooley continues London expansion with launch of City patent practice
With a mandate to generate London revenues of upwards of $40m, Cooley is making good on its City ambitions and hired a trio of Mintz, Levin, Cohn, Ferris, Glovsky and Popeo lawyers to bulk out its London offering and launch a patent practice.
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62% of revenue from legal services: Fairpoint adds Colemans-ctts to law firm stable
Having entered the legal services market in 2014 by buying Simpson Millar, Eversheds-client Fairpoint group has added a second law firm to its holdings with the acquisition of Colemans-ctts for £9m.
Funding issue sees Signature Litigation replace Fladgate on RBS litigation
Having helped secure third-party funding, City boutique Signature Litigation has been instructed by the RBS Shareholders Action Group in its high profile £1.2bn court battle against the Royal Bank of Scotland (RBS), the second change for the case and a move which has replaced Fladgate.
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SFO wins ‘significant victory’ in landmark Libor case as trader Hayes found guilty
In a fillip for the Serious Fraud Office (SFO), the first person to go on trial after a global investigation into interest rate manipulation scandal, Tom Hayes, has been found guilty at Southwark Crown Court and convicted on eight counts of conspiracy to defraud.
Revolving doors: Mishcon loses City funds chief to OMM as firms bulk up in Asia
O’Melveny & Myers (OMM) made a strategic move last week as it continues to ramp up its City office with the hire of Mishcon de Reya’s co-head of funds and financial services while Eversheds also looked to bolster its London presence. In Asia, Morrison & Foerster made a high-profile hire when it recruited Winston & Strawn’s Asia head of litigation.
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Trading partners: Kirkland recruits Freshfields’ Blackstone and Goldman relationship partner Steele
Freshfields Bruckhaus Deringer and Kirkland & Ellis continue to swap talent in the City, this time with Kirkland hiring the Magic Circle’s finance partner Michael Steele.
Bristol fashion – regional leader Burges Salmon drives revenues up 6% as PEP closes in on £500,000
Top-50 UK law firm Burges Salmon has posted another year of solid growth as results released for the 2014/15 year show revenue up by 6% to £80.8m from £76.5m while profit per equity partner jumped 11% to £485,000.
PEP up to £265k as BLM’s mergers lift firm past £100m turnover mark
Helped by its Scottish and Northern Ireland mergers, BLM has surpassed the £100m turnover mark and posted £104m in revenues for the 2014/15 financial year.
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Judicial watchdog investigates Justice Peter Smith after BA ‘lost luggage’ case
Mr Justice Peter Smith is set to face an investigation by the Judicial Conduct Investigations Office (JCIO) after his recent recusal from the high-profile litigation involving British Airways (BA).
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Guest post: Tales of an Unhappy Client – The Search for a Smarter Way to Bill
I knew better and that only makes this worse. Recently, I needed a lawyer to review an agreement. There was some vague language that made me anxious. So I called an old friend who recommended one of the partners at his big firm. The partner gave me good advice, spotted an issue I hadn’t considered, re-drafted a couple clauses, and left me feeling reassured. The problem went away.
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SRA promises new in-house rules by April 2016 as LSB gathers thoughts on reform
The Solicitors Regulation Authority (SRA) has laid out its timetable to overhaul rules for in-house lawyers in a response to the Legal Services Board’s (LSB) consultation on whether current rules are too restrictive.
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‘We are determined to re-build’: Ashurst brings in ex-Goldman banker to revive US structured finance team
Following the recent blow of a nine-lawyer team walkout from Ashurst’s US offices, the Anglo-Australian firm has hired former managing director at UBS Securities Eric Bothwell to boost the firm’s New York-based collateralised loan obligation (CLO) practice.
BLP, A&O and Ashurst get the gig on Lone Star’s £700m takeover of Wembley Arena owner
Berwin Leighton Paisner (BLP) and Allen & Overy (A&O) have taken the lead roles on US private equity firm Lone Star’s £700m acquisition of Wembley Arena-owner Quintain Estates and Development.