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.
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‘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.
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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.
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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.
Morrison & Foerster boosts City practice with Latham hire
US firm Morrison & Foerster has made a key hire with the recruit of Latham & Watkins’ private equity partner Graeme Sloan, where he will head the firm’s London corporate practice and serve as global co-chair of the firm’s M&A practice.
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Linklaters’ Davies to step down early as managing partner to join Lloyds
On the same day that the City giant posted its results for the last financial year, Linklaters‘ managing partner Simon Davies has confirmed he will retire from the firm at the end of 2015, a year ahead of the end of his current term, to join Lloyds Banking Group.
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Goodwin Procter makes second private equity hire from King & Wood Mallesons
US firm Goodwin Procter has made its second private equity hire from King & Wood Mallesons’ City office with private equity partner Simon Fulbrook, signalling ‘an important strategic step in the development’ of its European private equity capabilities.
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Return to form for Herbert Smith Freehills as profits jump against slight revenue increase
Herbert Smith Freehills (HSF) has registered a sharp increase in profitability in its second full financial year since its merger, as revenues passed the £800m mark.
TLT boosts City financial services offering with Barclays’ team head hire
TLT has boosted its financial services offering with the hire of Barclays’ investigations and enforcement head Jake McQuitty, who joins the firm as a partner.
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KWM seeks to rebuild City private equity practice with Fried Frank hire
After suffering a series of raids on its renowned City private equity practice, including the announced departure of partner Simon Fulbrook earlier today (1 July), King & Wood Mallesons (KWM) has sought to rebuild its flagship group with the hire of Laura Brunnen from Fried, Frank, Harris, Shriver & Jacobson.
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Weil makes China lateral move with acquisition of Freshfields’ Ching
Weil, Gotshal & Manges has bolstered its Shanghai office with the hire of Freshfields Bruckhaus Deringer’s New York-qualified corporate partner Charles Ching.
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An American in Paris: Jones Day seeks to bolster teams through local recruits
Jones Day has launched a fund formation practice in Paris through the hire of partner Catherine Martougin from Luxembourg firm Arendt & Medernach in a bid to boost the firm’s private equity capabilities, while it also recruited a five-strong team from French firm Gide Loyrette Nouel to boost its TMT practice, particularly in Africa and the Middle East.
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