Here at Adam Smith, Esq, we cover the array of law firm management issues from strategy and finance to compensation and cultural issues – ‘an inquiry into the economics of law firms,’ to coin a phrase. But there’s much more to life.
Continue reading “Guest post: Meaning in your career – or how to keep lawyers satisfied”
The High Court has this morning (18 February) found in favour of Grant Thornton in relation to its high profile auditors’ negligence dispute brought against it by Barclays Bank.
The Law Society received a blow today (18 February) as its challenge to the government’s controversial plans to overhaul criminal legal aid was dismissed in the High Court.
Not wanting to be outdone by their US colleagues, who recently launched DLA Piper’s first non-legal entity selling cybersecurity software subscriptions for $25,000 a year, the firm’s London office is preparing to rollout an e-learning product for both associates and clients.
Partners at Bird & Bird have joined the rush to expand into consultancy work, launching an IT project consultancy Baseline in a joint venture with Lancashire-based ASE Consulting.
Continue reading “‘A more comprehensive solution’: Bird & Bird creates IT consultancy”
Shearman & Sterling and Slaughter and May are among firms to have landed roles advising on Canadian insurance group Fairfax’s £1.2bn takeover of specialty insurer Brit as the group looks to boost its presence in the City.
Norton Rose Fulbright’s UK registered limited liability partnership (LLP) has recorded a near 4% increase in profit for the 2013/14 financial year alongside a 6.3% reduction in total borrowings while Fieldfisher’s net debt nearly doubled as the firm saw its profits decline.
US firms’ financials are continuing their positive trend, with recent releases showing revenue spikes and profit boosts including for Davis Polk & Wardwell and Paul, Weiss, Rifkind, Wharton & Garrison which both broke the billion-dollar mark in gross revenues last year.
Continue reading “US revenue round-up: Paul Weiss and Davis Polk surpass the billion-dollar mark”
German food flavourings maker Symrise and its Mexican subsidiary are suing Baker & McKenzie for £11.7m at the High Court, arguing that the law firm’s advice on ‘aggressive financial engineering’ to avoid tax in Mexico failed when the company paid out £11.2m.
Matthew Elliott’s long-mooted arrival at Kirkland & Ellis from Linklaters stole headlines last week, but LB 100 firms including DLA Piper, Eversheds and DWF also all made hires.
Eversheds has expanded its consulting services business, Eversheds Consulting, with the launch of a financial services regulatory compliance offering, and recruited six senior consultants and a team of compliance contractors, including Jean-Paul Simoes and Jonathan Steward from EY and KPMG respectively.
The battle between Argentinian bondholders and the South American government rattles on after RPC failed to convince a High Court judge to order the trustee, The Bank of New York Mellon (BNY Mellon), to release $257m to four holdout investors.
Berwin Leighton Paisner (BLP) and Orrick, Herrington & Sutcliffe have become the latest firms to announce how many of their spring 2015 qualifiers they are set to retain, with BLP seeing its rate slip from 89% in 2014 to 70% this year.
Pinsent Masons’ latest accounts, filed at Companies House, reveal a 3.7% profit increase alongside a 5.9% rise in headcount in the financial year to 30 April 2014, while the firm’s net debt nearly tripled.
Continue reading “Accounts revealed: Pinsent Masons’ headcount and net debt jumps as turnover rises”
Seeking to expand its office space in the City, DLA Piper has signed a lease to move into CMS Cameron McKenna’s old London base at Mitre House.
Continue reading “Grand designs: DLA Piper to move City operation to Cameron McKenna’s old office”
Fieldfisher partner Michael Harte has been referred to the Solicitors Disciplinary Tribunal (SDT) by the Solicitors Regulation Authority (SRA) which alleges he broke multiple aspects of the SRA Principles 2011.
Continue reading “Referred to the SDT: Fieldfisher partner pursued by SRA after criminal conviction”
As Hogan Lovells prepares to celebrate its fifth anniversary in May, there may be mixed reaction from the partnership today (13 February) over its 2014 financial results, as revenue for the calendar year modestly increased by 3.6% to $1.779bn from $1.718bn in 2013, while revenue per lawyer (RPL) rose 1.5% to $753,974 from $742,613 in 2013.
Ashurst‘s first post-merger limited liability partnership (LLP) accounts show the firm’s operating profit increased 10.5% from £193.8m to £214.2m for the financial year ending 30 April 2014 as it contained staff costs and increased turnover.
Continue reading “Accounts revealed: Profits rise 10.8% in Ashurst’s first post-merger filings”
New year is traditionally the time to change our ways. As we reflect back on the year just gone, perhaps we see that an inch has gone on to the waistline, or we’re more out of breath as we run for the train, or the savings have diminished even further. All good prompts to change our ways and come up with new life strategies?
Continue reading “PwC Legal’s Stewart Room: ‘New year, new privacy and security strategy’”
US banking giant JPMorgan Chase continues its strategic expansion of its legal function, and has recruited Goldman Sachs heavyweight counsel John Tribolati as its new EMEA general counsel (GC). Tribolati succeeds Piers Le Marchant, who has now been appointed as global head of compliance for corporate and investment banking.
