After taking the decision to move back-office staff out of its London headquarters to Manchester in a nearshoring exercise, Freshfields Bruckhaus Deringer is taking the low-cost support model to new heights as it looks at potentially opening two further support outposts in Asia and the US to provide 24/7 legal support.
Ashurst blow as King & Spalding secures four-partner team for Tokyo launch
King & Spalding has chosen Tokyo as its second base in Asia, hiring a team of Ashurst partners led by Tokyo managing partner John McClenahan to spearhead its launch.
Continue reading “Ashurst blow as King & Spalding secures four-partner team for Tokyo launch”
We need to talk… about technology: Shepherds’ CEO Gibb on keeping pace with technology
Innovation lies at the core of technology. Evolution and improvement in the ways we design and use basic utilities and infrastructure such as telecoms, water and energy are key to ensuring perennial and adaptable services for an ever-growing global population.
Guest post: Law firm mergers – be clear if it’s for your balance sheet or your clients or it won’t go well
The industry standard in tracking US law firm mergers, Altman Weil’s Mergerline, has had this to say about activity in the wake of the Global Financial Reset:
Mergers helps drive 11% revenue growth at CMS with profits up 3%
With two mergers under its belt in 2014, CMS has unveiled double digit growth in revenue for the financial year ending 31 December 2014 with turnover up by 11% to €934.5m (£753.3m).
Continue reading “Mergers helps drive 11% revenue growth at CMS with profits up 3%”
BLP launches US securities team with BAML director and former Proskauer partner
Berwin Leighton Paisner has made a double hire to start a US securities group in the City, hiring former Proskauer Rose partner Katherine Mulhern and Bank of America Merrill Lynch (BAML) director Bobby Schrader.
Continue reading “BLP launches US securities team with BAML director and former Proskauer partner”
Taylor Wessing’s Tim Eyles to stand unopposed in upcoming managing partner election
LB100 firm Taylor Wessing’s managing partner, Tim Eyles (pictured), is set to stand unopposed in the firm’s upcoming management election as he seeks a third term in office.
Eversheds merges with Heisse Kursawe after ‘a very long courtship’ as it plans greater German investment
After a full year of advanced negotiations, Eversheds has merged with its German partner Heisse Kursawe Eversheds, allowing the duo to financially integrate and make investments in Munich, Berlin and Hamburg.
Mounting departures: Barclays’ Michael Shaw resigns as deputy general counsel
After six years as deputy group general counsel (GC), Michael Shaw has become the latest senior exit from Barclays‘ legal team which has suffered multiple departures since the start of the year.
Continue reading “Mounting departures: Barclays’ Michael Shaw resigns as deputy general counsel”
Former Freehills chairman Crean exits HSF for Jones Day after missing out on senior partner role
Deputy senior partner Mark Crean (pictured), who served as chairman of Freehills until its 2012 merger with Herbert Smith, has resigned from Herbert Smith Freehills (HSF) to join Jones Day.
WTO failing to cope with trade disputes burden as staff exits mount
In its latest annual report, the World Trade Organization (WTO) has reported that its disputes unit has ‘faced difficulties in retaining staff’, causing delays to panels being established amid a surging caseload.
Continue reading “WTO failing to cope with trade disputes burden as staff exits mount”
After seven months in the job Deutsche Bank reassigns legal affairs chief
Having received fines from investigations relating to Libor manipulation and the unexpected resignation of its joint chief executives this week, Deutsche Bank has shaken up its legal department and reassigned its legal affairs chief Christian Sewing.
Continue reading “After seven months in the job Deutsche Bank reassigns legal affairs chief”
White & Case’s NQs get 20% salary bump to £90,000 – firm extends pay gap over Magic Circle
White & Case has announced it is making significant increases in salaries across its associate pay scale with newly-qualified (NQ) lawyers set to receive 20% more in 2015 and take home £90,000.
Clydes expands Manchester base with new office and partner duo as revenues reach £26m in 2014/15
As Clyde & Co’s Manchester office revenues look to hit £26m for 2014/15, the firm is expanding the presence it gained in the city through its 2011 tie-up with Barlow Lyde & Gilbert with a move into new premises and the hire of two partners from Squire Patton Boggs.
University of Law loses another client as Bakers opts for arch-rival BPP
The University of Law (ULaw) has lost another law firm’s business to rival BPP with Baker & McKenzie becoming the latest to switch its training provider.
Continue reading “University of Law loses another client as Bakers opts for arch-rival BPP”
Ropes’ European push sees three practice heads named in the City while Goetz steps down from finance role
Having re-shuffled its City management almost a year ago, Ropes & Gray has added three more practice heads in London while Mike Goetz (pictured) steps down as co-finance chief.
Watson Farley hires Fried Frank London duo to launch structured finance practice
In a ‘strategic play’ to build its debt capital markets offering, Watson Farley & Williams (WFW) has hired a pair of finance partners from Fried, Frank, Harris, Shriver & Jacobson’s City office.
Continue reading “Watson Farley hires Fried Frank London duo to launch structured finance practice”
Financials 2014/15: DAC Beachcroft sees total billings reach £200m as profits rise 10%
As the firm ramps up for a defining election, DAC Beachcroft has announced its financial figures for 2014/15 saying it had seen a 3% rise in its total billings to £200m up from £194.4m last year.
Bar avoids advocacy fee cut as MoJ pushes on with further legal aid reductions against Law Society warning
The Bar is set to avoid further reductions in advocacy fees as the Ministry of Justice confirmed that it would make further cuts to criminal legal aid but for solicitors only – a move condemned by The Law Society which said it was ‘deeply concerned not only for the immediate future of the justice system but for its continued survival.’
Forward planning: Dentons management Portnoy and Andrew to stand in 2017 election
In a conspicuously early move by Dentons‘ chief executive Elliott Portnoy and global chairman Joe Andrew, both have revealed they will stand as candidates for the firm’s scheduled management elections in 2017.
Continue reading “Forward planning: Dentons management Portnoy and Andrew to stand in 2017 election”