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.
Mayer Brown and Davis Polk & Wardwell have won roles advising Spanish airport operator Aena (Aeropuertos Españoles y Navegación Aérea) on its €4.3bn float on the Madrid Stock Exchange.
Latham & Watkins has continued its hiring spree in London with the hire of Herbert Smith Freehills‘ energy partner Simon Tysoe.
Police have identified a man killed in a stabbing at a Washington DC hotel on Tuesday 10 February as 30-year old DLA Piper associate David Messerschmitt.
David Pitofsky has been named general counsel (GC) and chief compliance officer (CCO) for Rupert Murdoch’s News Corp, replacing Gerson Zweifach with immediate effect.
Clifford Chance’s turnover picked up 7% in the financial year 2013/14, as Asia Pacific led the way with a 8.9% boost, according to accounts filed at Companies House.
Continue reading “Accounts revealed: Clifford Chance sees Asia turnover rise fastest at 8.9%”
There are lots of factors that are supposed to have a major role in the success of a law firm that on closer examination are hard to sustain. Issues in this camp include remuneration models, culture, strategy and a specific practice mix. What this list has in common is that there is no right answer – all that matters is what you are doing is appropriate to what you are trying to achieve and the markets that you are working in (and even then it’s less central than supposed).
In the latest round of 2014 financial results for US firms, Cooley has revealed turnover growth of 19% with revenues of $802m while Mayer Brown recorded a 12.8% increase in profit per equity partner (PEP) after generating revenues of $1.223bn.
Continue reading “US results round up: Cooley sees 19% turnover jump as Mayer Brown PEP grows 12.8%”
RPC is set to launch a new management consultancy business to target its core insurance sector clients, and has hired Rory O’Brien, the former global head of risk consulting and software at Towers Watson, to spearhead the venture.
Continue reading “‘Willingness to do things differently’: RPC to try hand at management consultancy”
Both Clifford Chance and Linklaters have revealed they are keeping on 91% of their spring 2015 cohort with the firms holding on to 41 and 49 trainees respectively.
In January 2005 DLA hooked up with US duo Piper Rudnick and Gray Cary Ware & Freidenrich, triggering a debate that looks no more resolved as I type these words in January 2015. The issue boils down to: what is a firm? And can unions between legal practices maintaining separate finances, partnerships and governance be considered by clients, staff, peers and regulators to be a single institution?
Slater and Gordon has acquired a further two UK law firms, adding a projected £18.7m to annual revenue, and revealed plans to build its UK business to 45% of total financial year 2014/15 revenues.
Ever since the start of the financial crisis you haven’t had to look very far to find expert opinion pieces predicting the end of growth for law firms. The observer will tell you that this is because of the commoditisation of transactional services, the pressure of client expectations of price, staffing and delivery, new entrants in the market, cyclical downturns in the economy, challenging career paths, anti-social hours and so on.
Continue reading “James Roome: ‘There’s a crisis in law but not the one many claim’”
Slaughter and May has become the third Magic Circle firm to announce the retention level of its spring 2015 qualifying group, with 37 of the 42-strong intake set to remain at the firm.
Continue reading “Trainee retention: Slaughter and May keeps on 88% of its spring 2015 qualifiers”
Filings at Companies House by King & Wood Mallesons LLP (KWM LLP) have revealed that the firm’s UK office saw a 10.7% fall in turnover in the year to 30 April 2014.
Continue reading “‘Satisfactory’: King & Wood Mallesons LLP sees 10% drop in UK office revenue”
Kirkland & Ellis has hired Linklaters‘ head of real estate M&A Matthew Elliott, who leaves the Magic Circle firm after 17 years, in a bid to boost its private equity offering within the real estate sector.
Continue reading “Investing in London: Kirkland hires Linklaters real estate M&A head”
Both Allen & Overy (A&O) and Holman Fenwick Willan (HFW) made hires to strengthen European offices last week, while Gateley hired two partners to bolster its London offering and Arthur Cox turned in-house.
Reckitt Benckiser (RB) is making plans to carry out a UK panel review, with Bill Mordan, senior vice president and group general counsel (GC), also looking to formalise the company’s current panel arrangement.
Continue reading “In-house: Reckitt Benckiser group GC Mordan looks to review and formalise panel”
