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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A&O records a solid year with 4% revenue growth while profits jump 8%
The second Magic Circle firm to post its financial results, Allen & Overy (A&O) has moved ahead of peer firm Linklaters with an annual revenue of £1.28bn for the financial year ending June 2014/15, up £47m, or 4%, from £1.23bn.
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White & Case appoints management as Verrier re-elected while CMS hands Brandi a second term
Both White & Case and CMS announced yesterday the re-election of their executive chairmen with Hugh Verrier taking the role on for a third time at the US firm while CMS’ Cornelius Brandi was elected for a second term.
Strike action: Solicitors and barristers to boycott legal aid cases from 1 July following ‘untenable’ cuts
Solicitors and barristers in London and across the UK have agreed to boycott legal aids cases from tomorrow (1 July) following ‘untenable’ further cuts of 8.75% in fees for duty solicitors.
Dealwatch: CC and Linklaters take lead on GE’s $2.2bn finance unit sale to Japan’s SMBC
Magic Circle duo Clifford Chance (CC) and Linklaters have taken lead advisory roles on General Electric’s $2.2bn sale of its European private equity financing business to a unit of Japan’s Sumitomo Mitsui Banking Corp (SMBC).
Cross-border teams at Gibson Dunn and Weil advise on $18bn Willis and Towers Watson merger
US duo Gibson, Dunn & Crutcher and Weil, Gotshal & Manges have won key roles on the headline merger of Willis Group Holdings, one of the world’s oldest insurance broker, and human resources consultancy Towers Watson, for $18bn.