Linklaters has returned to a familiar hunting ground, Herbert Smith Freehills (HSF), to hire experienced arbitration partner Matthew Weiniger QC.
Continue reading “HSF arbitration heavyweight Weiniger QC to depart for Linklaters”
CC posts flat results but sublets half of Canary Wharf HQ to Deutsche Bank to slash costs
Clifford Chance (CC) has posted subdued results for 2014/15 amid a weakening euro, with revenue falling slightly to £1.35bn and profits per equity partner (PEP) edging down 2% to £1.12m.
Growing pains as revenue and profits take a tumble at Ashurst
Ashurst has revealed a drop in both firmwide revenues and profits per equity partner (PEP) following a ‘year of consolidation and significant investment’, including a global strategic review.
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Financials 2014/15: subdued performance from Eversheds with revenue and profits flat
Eversheds has posted essentially flat results for the last financial year, with revenues flat at £380.7m compared with £379.1m in 2013/14, while profit per equity partner (PEP) has nudged up just 2% from £731,000 to £749,000.
DAC Beachcroft unveils new leadership following contested election
DAC Beachcroft has elected real estate partner Virginia Clegg as the firm’s new senior partner, while insurance head David Pollitt has been named managing partner, bringing both the insurance and non-insurance parts of the business together in leadership.
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Financials 2014/15: Freshfields PEP down 8% while revenues flatline
The last of the big four City firms to post its results, Freshfields Bruckhaus Deringer has revealed an 8% slump in its profit per equity partner (PEP) for the 2014/15 financial year, while firmwide revenues were more or less flat, rising just 1%.
Continue reading “Financials 2014/15: Freshfields PEP down 8% while revenues flatline”
Revolving doors: Global 100 firms make heavyweight international hires in key markets
In another busy week for international lateral hires, Allen & Overy (A&O), Kirkland & Ellis, Pinsent Masons and Reed Smith all made key appointments abroad, while London-based public international law boutique Volterra Fietta hired an overseas government specialist. Continue reading “Revolving doors: Global 100 firms make heavyweight international hires in key markets”
70 years’ experience: Hogan Lovells adds Baker Botts disputes trio in Houston
Hogan Lovells has tapped Baker Botts’ disputes team in Houston with the hire of three partners with almost 70 years’ combined experience at the firm, including the former head of the Houston office.
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Guest post: Corporate lawyers under the microscope – the ‘more for less’ delusion and City firms as risk canaries
Last week I attended a Symposium on Corporate Lawyers organised by Steven Vaughan and his colleagues at the Centre for Professional Legal Education and Research (CEPLER). It was a great event, bringing together a wide range of academics working on corporate lawyers alongside a fair few from corporate practice. I thought I’d share a few highlights.
Lewis Silkin on wrong end of £2m judgment for negligent advice to cricket CEO
A High Court judge has found that Lewis Silkin was negligent in advising Tim Wright, the former CEO of an Indian Premier League cricket franchise, on his employment contract and has handed down a judgment for damages of £2m against the firm.
Continue reading “Lewis Silkin on wrong end of £2m judgment for negligent advice to cricket CEO”
‘A good little business’: Weightmans completes Leeds merger to create £100m firm
Legal Business 100 firm Weightmans has completed its merger with local Leeds firm Ford & Warren, creating a combined entity with revenues of around £100m and headcount of over 1,400.
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Exits mount for King & Wood as Mishcon snaps up veteran IP partner
The list of partner departures from King & Wood Mallesons’ City office is getting longer each week with Mishcon de Reya the latest beneficiary after picking up IP veteran Ray Black.
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Financials 2014/15: Stevens & Bolton breaks £20m barrier to nudge top 100 firms by revenue
South East heavyweight Stevens & Bolton has revealed a 13% hike in revenue for 2014/15 to a record high of £22.3m, putting it on the cusp of the Legal Business 100, while profits per equity partner continue to outgun many larger firms, passing £400,000.
Team exit for Ashurst in US gifts Paul Hastings added finance strength in New York and DC
A nine-lawyer team will be leaving the US offices of Ashurst, including its US managing partner, to join Paul Hastings as it expands its structured finance team.
KWM loses second City partner this week as Fried Frank takes funds specialist
King & Wood Mallesons‘ (KWM) City office has suffered its second partner exit this week, with financial markets partner Gregg Beechey being the latest to quit the firm to join Fried, Frank, Harris, Shriver & Jacobson in London.
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Olswang posts a healthy 8% revenue growth after turbulent year
It has been a year of management and team departures but Olswang today reported that its revenues for the financial year 2014/15 are up 8% to £126.7m from £117.6m, while profits per equity partner (PEP) are expected to hold steady at £490,000.
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Further legal exits for Barclays as corporate banking GC departs for Lloyds
Just a day after Lloyds Banking Group announced the hire of Linklaters’ managing partner Simon Davies, the bank has also hired Barclays’ global head of legal for corporate banking, Joanna Carver.
Continue reading “Further legal exits for Barclays as corporate banking GC departs for Lloyds”
Strong run resumed as RPC posts double-digit revenue and profit growth
One of the most consistent success stories of the UK legal market in recent years, RPC has revealed impressive growth for 2014/15 as its revenues rose 12% to £94m, while profit per equity partner (PEP) at the firm soared 19% to £403,000.
Continue reading “Strong run resumed as RPC posts double-digit revenue and profit growth”
Herbert Smith Freehills pitches into City salary war with associate pay increases
London associates at Herbert Smith Freehills (HSF) have had their salaries bumped up by between £4,000 and £8,000 as competition for City talent continues.
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Linklaters first magic circle firm to post financials with revenues and profits flat
The first Magic Circle firm to release its financial results, Linklaters posted a 1% rise in revenue to £1.27bn as it struggled to capitalise on the return to form of its heavyweight corporate team in London.