DAC Beachcroft’s latest LLP fillings at Companies House have revealed the firm’s profits available for division among members fell by 18.3% from £31.2m in the 2012/13 financial year to £25.5m in the year to 30 April 2014 as staff costs rose and the firm booked the cost of an IT failure.
Losing QCs: BLP’s plan to compete with the Bar hit by another advocacy exit
Stuart Isaacs QC, the man brought in to lead Berwin Leighton Paisner‘s advocacy unit and compete with the Bar, has departed for King & Spalding.
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Taking Manhattan: Freshfields continues New York expansion with Kirkland & Ellis hire
Magic Circle firm Freshfields Bruckhaus Deringer has bolstered its US offering again, this time enhancing its employment capability with the hire of Kirkland & Ellis partner Howard Klein in New York.
Accounts revealed: DLA Piper revenues slip as partner numbers shrink
DLA Piper‘s European, Asian and Middle Eastern operations suffered a fall in revenue from £800m to £787.5m for the 12 months to 30 April 2014.
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Financials 2013/14: Herbert Smith Freehills cuts its debt after ‘outstanding’ disputes performance
In the first full year of accounts since it merged, Herbert Smith Freehills has revealed its borrowings fell from £178m at the end of the 2012/13 financial year to £141m.
Global arbitration: French and British lawyers dominate appointments to ICSID arbitrations
Traditionally dominated by US lawyers, French and British arbitrators trumped their North American rivals last year by securing more arbitral appointments at the World Bank’s International Centre for Settlement of Investment Disputes (ICSID).
Targeting Manchester: Nabarro bolsters office with Pinsents and Eversheds hires
Nabarro has bolstered its recently opened Manchester office with the hire of corporate partner Howard Gill and real estate partner Peter Winnard.
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Unanimous approval: Blatherwick gets another three-year term at Browne Jacobson
Browne Jacobson has opted to stick with current managing partner Iain Blatherwick with the firm’s 96-strong partnership unanimously re-electing him for a further three years from 1 May 2015.
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Old or new BLP: Which way will the firm turn with its next managing partner?
Berwin Leighton Paisner‘s (BLP) head of employment Lisa Mayhew will face off against corporate chief David Collins in the battle to replace Neville Eisenberg (pictured), the firm’s managing partner for the last 16 years.
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Dealwatch: Freshfields, A&O and Travers act as Asia’s richest man buys UK rail group for £2.5bn
Travers Smith, Freshfields Bruckhaus Deringer and Allen & Overy (A&O) have won roles advising on the sale of UK’s leading rail leasing company Eversholt Rail Group for £2.5bn.
Trainee retention: Freshfields keeps on 85% of spring 2015 qualifiers
Freshfields Bruckhaus Deringer has become the first Magic Circle firm to post its trainee retention rate, with 85% taking up positions with the firm.
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‘Looking for new challenges’: KPMG’s GC to depart after 18 years in the role
Vanessa Sharp, KPMG‘s general counsel (GC), is to retire from the partnership after 18 years in the role. The process to replace Sharp, who departs in May is currently ongoing, and Legal Business understands that the replacement is likely to be an external one.
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Cross-border ties: Ropes & Gray and Weil Gotshal act on Bain Capital’s $2.1bn TI Automotive deal
US firms Ropes & Gray and Weil Gotshal & Manges have won roles advising buyout group Bain Capital on its $2.1bn acquisition of leading fuel systems supplier TI Automotive.
Asia: DLA Piper builds up its Singapore office while Milbank and Sidley expand in China
DLA Piper, Milbank, Tweed, Hadley & McCloy and Sidley Austin have all completed partner raids on rivals in Asia as they seek to expand their presence in the region.
Financials 2013/14: Wragges last accounts show rise in profit as number of staff falls
Wragge & Co’s last limited liability partnership (LLP) accounts before it merged with Lawrence Graham show that profit before remuneration grew by 8%, climbing from £39.5m to £42.6m as the number of staff employed fell by 106.
Financials 2013/14: Freshfields’ profits continue to grow as headcount expands
Freshfields Bruckhaus Deringer has become the third Magic Circle firm to release its 2013/14 limited liability partnership (LLP) filings with Companies House, showing the firm’s profits increasing, ‘before the movement in the provision of partner annuities’, by 7% to £528m off the back of £1.28bn in revenues.
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‘Designed in the 19th century’: Leveson calls for court system reforms
Lord Justice Leveson has called for reforms to streamline the justice system in England and Wales for greater efficiency.
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A €7.4bn enterprise value: Ropes & Gray and Lathams advise on Altice purchase
US firms Ropes & Gray and Latham & Watkins won roles advising on telecommunications group Altice’s purchase of Portuguese telecoms rival Oi’s assets worth €7.4bn on a cash and debt-free free basis.
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Dealwatch: Linklaters, Davis Polk, and De Brauw act on Vision Express owner’s €1bn IPO
US heavyweight Davis Polk & Wardwell, Dutch firm De Brauw Blackstone Westbroek and Magic Circle firm Linklaters have all scored roles advising on the €1bn Dutch IPO of Grand Vision, the world’s biggest opticians and owner of Vision Express.
Trainee retention: White & Case keeps on 100% of Spring 2015 trainees as OC retains 89%
White & Case and Osborne Clarke (OC) are the latest firms to reveal trainee retention rates this month, keeping on 100% and 89% respectively.