A four-partner team from Linklaters advised France’s Schneider Electric on its £1.3bn reverse takeover of UK engineering software company and Ashurst-client Aveva.
‘It has certainly shown its teeth’: Fraud specialists fear SFO budget cuts put agency’s progress at risk
The Serious Fraud Office’s (SFO) annual report has shown improvements on last year, both in its levels of activity and the number of convictions achieved but white collar crime specialists are worried that planned budget cuts of 34% will ‘put that progress at risk.’.
Revolving Doors: US firms kick-on with big hires as Clydes invests Stateside
As firms move to finalise their lateral hires before the holiday season starts, a string of US hires were wrapped up last week as Cooley brought in Reed Smith’s global head of corporate and securities in a four-partner hire to grow on both sides of the States, while Sheppard, Mullin, Richter & Hampton launched an antitrust practice in the City. Meanwhile, UK firm Clyde & Co went in the other direction to grow its US offering.
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Slaughter and May’s trainee retention slips to 89% for 2015 autumn intake
The first Magic Circle to report its trainee intake numbers for autumn 2015, Slaughter and May has revealed it is keeping on 33 trainees out of a cohort of 37 – unusually low for the firm which regularly posts rates of over 90%.
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A&O and Freshfields win big on 888’s £900m purchase of Bwin after bidding battle
Magic Circle duo Allen & Overy (A&O) and Freshfields Bruckhaus Deringer acted as the bidding battle for online gambling company Bwin.Party Digital Entertainment came to an end today (17 July) with 888 beating GVC to acquire the FTSE 250-listed rival for £898m.
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Judiciary watchdog sees complaints rise by 20% in first year of new discipline regime
The annual report issued by the Judicial Conduct Investigations Office (JCIO) has seen the number of complaints made against judicial office holders rise by 20% last year, with those concerning the High Court rising 88%.
£20k pay hike for A&O associates as firm folds bonuses into salary bands
Following a record financial year that has seen Allen & Overy (A&O) move ahead of Magic Circle rivals Linklaters and Freshfields Bruckhaus Deringer in turnover, the firm’s associates will see a £20,000 increase in their base salaries as the firm incorporates bonuses into the annual pay packet.
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DWF launches subsidiary to enter burgeoning legal product market
Following on from the launch last month of consultancy, paralegal and flexible lawyer offerings, DWF has entered into the growing legal product market by launching a wholly owned subsidiary, 15squared, to sell and develop technology products for in-house clients.
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‘We haven’t turned ourselves into a boutique’ – Ashurst’s head talks strategy, Bain and pushing energy and finance
After having brought in Bain & Co last year to advise on the firm’s strategy, Ashurst’s chairman and New Zealand-born litigator Ben Tidswell (pictured) talks to Legal Business about the firm’s new direction and its renewed focus on financial institutions, energy and infrastructure, and the Asia-Pacific.
Gateley plc’s first trading statement reveals 10% revenue bump for 2014/15
Following its recent landmark move to become the UK’s first listed law firm, West Midlands-based Gateley has stated in its first trading statement that revenues had increased by 10% to ‘not less than’ £60m for the 2014/15 financial year.
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Morgan Lewis continues City ramp-up with DLA Piper’s head of funds
US firm Morgan, Lewis & Bockius has bolstered its funds practice as it continues to build its City presence with DLA Piper’s London head of funds Gawain Hughes – adding to the structured finance trio hired from K&L Gates last week.
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KWM hires Nabarro’s former head of financial services regulation to support real estate and PE push
In a ‘sign to the market of our commitment to grow our private equity practice’, King & Wood Mallesons (KWM) has rehired Adrian Brown from Nabarro, where he formerly led the firm’s financial services regulation group after having joined from SJ Berwin in 2010.
Strategy reversal sees Winston & Strawn shut 22-year old Geneva office to focus on London and Paris
After more than two decades operating in the Swiss city, Winston & Strawn is to shut its Geneva office at the end of September as the firm looks to service arbitration work from London and Paris.
MoJ looks to shut one fifth of courts across England and Wales as reform consultation kicks off
The Minstry of Justice (MoJ) has launched a consultation on plans to close one fifth of courts and tribunals across England and Wales in a bid to tackle the issue of ‘underused’ court buildings and to cut costs.
Guest post: Solicitors are lawyers too, Mr Gove – what the Lord Chancellor needs to remember
Michael Gove’s performance before the justice select committee on Wednesday was a skilful one. Thoughtful, reasonable, non-dogmatic – two months into his time as Lord Chancellor and Secretary of State for Justice, he continues to win plaudits simply by virtue of not being Chris Grayling.
WilmerHale review set to shut City branch to refocus on Mayfair arbitration team
Wilmer Cutler Pickering Hale and Dorr is set to close one of its two London offices, with its 10-lawyer transactional outpost in the City currently being reviewed amid expectations that the office will be wound down. The review is likely to result in the US law firm refocusing its London practice heavily around its arbitration team at its existing Mayfair office, according to two current partners.
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KWM downplays Europe in 36-strong partnership round with only two made up in the City
King & Wood Mallesons (KWM) has made up just two London partners, focused on boosting its real estate offering, in an expanded global promotions round this year that saw 36 lawyers join the partnership.
Dealwatch: Herbert Smith Freehills leads on winning bid for £4.2bn Thames super-sewer project
Herbert Smith Freehills (HSF) have advised the consortium picked to deliver a £4.2bn super-sewer stretching 15 miles under London to prevent untreated sewage flowing into the Thames.
Bird & Bird’s turnover climbs 6% to €325.5m but stays flat in sterling
Tech specialist Bird & Bird, despite stating that it has faced ‘challenging economic conditions in many of our major markets’, has posted a 6% rise in revenues to hit €325.5m.
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Strike action: Criminal Bar Association votes to support solicitors in legal aid protest
The Criminal Bar Association of England and Wales (CBA) has voted to support solicitors in their strike action over the 8.75% cut to legal aid fees that was imposed at the start of July this year.