The Legal Services Board (LSB) has raised concern over whether current regulatory restrictions for in-house lawyers are justified, stating that ‘unnecessary restrictions’ on their ability to innovate and expand their reach could ‘adversely affect access to justice’.
Investing in London: Cooley keeps up City push with Olswang’s former PE head Rosen
Singapore scramble – Kennedys enters JV to bolster presence in city state
After last month saw Withers secure a new alliance in Singapore while other firms made moves in the country, Kennedys has bulked up its presence in the city-state through a joint venture (JV) with local firm Legal Solutions.
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Senior appointments: Linklaters picks successor to top finance job as Jim Rice prepares to step down
Linklaters has appointed longstanding partner and global financial regulation group head Michael Kent as divisional practice head of finance & projects, where he will succeed heavyweight finance and securitisation partner Jim Rice.
Mishcon, Latham and OC up against City elite as shortlists announced for 2015 Legal Business Awards
Clifford Chance (CC), Mishcon de Reya, Osborne Clarke and DLA Piper are among those vying to win prizes at what promises to be the largest-ever Legal Business Awards.
The firms are among those nominated as we unveil the shortlists today (9 March) for the awards ahead of the ceremony, which will be held on 24 March at the Grosvenor House Hotel in central London. Continue reading “Mishcon, Latham and OC up against City elite as shortlists announced for 2015 Legal Business Awards”
£1.1bn of student digs: Nabarro, Clifford Chance and Morgan Lewis take lead on Liberty Living acquisition
Nabarro and Clifford Chance have picked up a major real estate instruction advising on the £1.1bn acquisition of UK student accommodation provider Liberty Living by Canada Pension Plan Investment Board (CPPIB).
‘We’ve done our homework’: Pinsents finally secures Australia launch for renewed infra push
It has been a long time in the offing but Pinsent Masons today (6 March) announced the launch of an infrastructure sector-focused practice in Melbourne and Sydney.
In-house: Shell appoints successors to litigation and downstream GC roles
Royal Dutch Shell has made two significant internal promotions to its in-house legal function, with associate general counsel (GC) for litigation Richard Hill (pictured) appointed to succeed Brad Nielson as GC for global litigation, while Martin Bambridge, currently associate GC for the energy giant’s downstream portfolio, will take over from downstream legal chief, Hans von der Linde.
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Global London: Weil and Covington sustain robust City growth as US firms expand market share
The days when London offices tended to be expensive beachheads draining profits from American parents appear to be long gone, with Weil, Gotshal & Manges and Covington & Burling joining the string of US law firms to substantially hike their revenues in the City in 2014. Continue reading “Global London: Weil and Covington sustain robust City growth as US firms expand market share”
Revolving doors: Paul Hastings takes three Americas partners from Allen & Overy
Paul Hastings has made a rare move on a UK firm in its own backyard, with news that is to hire a trio of US and Latin America-based partners from Allen & Overy.
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Quality not quantity – stalled growth at DLA Piper but a leaner global giant boosts the bottom line
After years of breakneck expansion, DLA Piper is increasingly into a phase of managing and refining its 80-office global practice, at least according to the firm’s recently-announced results for 2014.
Modest gains: London a key factor as Debevoise & Plimpton reveals revenues up 3%
Debevoise & Plimpton has posted a 3% rise in revenue for 2014 to $710m, up nearly $22m on 2013, while partner profits have also increased by 3%.
Continue reading “Modest gains: London a key factor as Debevoise & Plimpton reveals revenues up 3%”
Rumbling on – Barclays’ profits plunge after £750m Forex provision
The fallout from the Forex rigging scandal continues to rumble on with Barclays this week being the latest in a long line of banks to set aside huge sums to deal with the matter. The bank this week announced that it had set aside an additional provision of £750m in the last quarter of 2014 for ongoing investigations and litigation relating to Forex rigging investigations and related litigation.
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Letter from America – Reed Smith puts in confident 2014 showing with revenues up to $1.15bn
Re-enforcing what is already shaping up to be a robust year for major US-bred advisers, Reed Smith is the latest major law firm to announce robust growth with revenues rising 7% in 2014 to reach $1.15bn. Continue reading “Letter from America – Reed Smith puts in confident 2014 showing with revenues up to $1.15bn”
Boutique banquet: profits double at Enyo as dispute specialist’s income surges 61%
Enyo Law enjoyed major financial growth for the 2013/14 year, as LLP accounts filed at Companies House reveal revenue jumped 61% to over £14m from £8.8m while profits effectively doubled to £9.6m from £4.8m.
Losing its grip: nearly two-thirds of lawyers fear damage to UK’s disputes status from court fees hike
With the government’s current proposal to raise the fee to issue proceedings to 5% of the value for claims worth £10,000 or more, research recently undertaken by the Ministry of Justice shows that 61% of respondents believe the proposals will have a negative impact on the UK’s competitiveness in commercial disputes, according to RPC.
Lateral hire: Pinsents lures Addleshaws financial regulation head
Pinsent Masons has today (3 March) announced the hire of respected Addleshaw Goddard financial regulation head David Heffron.
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Norton Rose Fulbright coup as FTSE company consolidates legal work with global adviser
It may not be the name most associated with sole adviser mandates in the legal industry but Norton Rose Fulbright (NRF) has still scored a notable win. The global law firm has confirmed this week that it has secured a position as global legal counsel to engineering company IMI following an overhaul of its use of external counsel. Continue reading “Norton Rose Fulbright coup as FTSE company consolidates legal work with global adviser”
Revolving doors: DWF, CMS, BLP and Mayer Brown make key hires
DWF, CMS Cameron McKenna, Berwin Leighton Paisner (BLP), and Mayer Brown have all made strategic hires in the last week, bolstering key practice areas in London, Scotland and New York.
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DLA joins Canadian club at last as it announces Davis deal
Having long sought a presence in Canada, DLA Piper has finally struck a merger deal with Vancouver-headquartered firm Davis. The partnership at Davis approved the merger in a vote held last week and the firm will be rebranded as DLA Piper Canada when the deal closes in April.
Continue reading “DLA joins Canadian club at last as it announces Davis deal”