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”
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”
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.
Continue reading “70 years’ experience: Hogan Lovells adds Baker Botts disputes trio in Houston”
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.
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”
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.
Continue reading “‘A good little business’: Weightmans completes Leeds merger to create £100m firm”
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.
Continue reading “Exits mount for King & Wood as Mishcon snaps up veteran IP partner”
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.
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.
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.
Continue reading “KWM loses second City partner this week as Fried Frank takes funds specialist”
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.
Continue reading “Olswang posts a healthy 8% revenue growth after turbulent year”
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”
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”
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.
Continue reading “Herbert Smith Freehills pitches into City salary war with associate pay increases”
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.
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.
Continue reading “Morrison & Foerster boosts City practice with Latham hire”
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.
Continue reading “Linklaters’ Davies to step down early as managing partner to join Lloyds”
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.
Continue reading “Goodwin Procter makes second private equity hire from King & Wood Mallesons”
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 has boosted its financial services offering with the hire of Barclays’ investigations and enforcement head Jake McQuitty, who joins the firm as a partner.
Continue reading “TLT boosts City financial services offering with Barclays’ team head hire”
