Dentons is set to create the biggest law firm in the world by lawyer headcount through a combination with leading Chinese firm Dacheng, a move that will establish a 6,600-lawyer giant operating under a Swiss verein structure.
Continue reading “6,600 lawyers: Dentons set to combine with China’s largest law firm Dacheng”
Two giants of the US financial services market, insurer Metlife and investment bank JP Morgan, have begun a legal battle in the UK High Court over a $107m sum the insurance firm says it is owed after ‘breaches of contract’.
Private equity powerhouse KKR has purchased travel ticket seller thetrainline.com, with its go-to law firm Simpson Thacher & Bartlett advising on a deal that diverted the company from carrying out its announced IPO on the London Stock Exchange.
Chief client officer Andy Raynor will take the chief executive role at Midlands-based Shakespeares, as current incumbent Paul Wilson departs after almost nine years at the helm.
Having appointed DLA Piper as principal legal adviser this month (January) in a bid to cut down on external spend, Heineken UK’s head of legal Graeme Colquhoun (pictured) and DLA Piper IP/IT partner John McKinlay talk to Sarah Downey to discuss the perks of having a one-stop-shop and its possible extension.
The Solicitors Regulation Authority (SRA) has confirmed 12 law firms have been forced to close for failing to secure professional indemnity insurance (PII) while the status of a further 37 has yet to be determined.
US firm revenues for 2014 have kicked off with Weil, Gotshal & Manges showing a comeback in its results after profits and turnover plummeted in 2013.
Continue reading “US revenues 2014: Weil Gotshal & Manges bounces back with 16.5% PEP increase”
Clifford Chance (CC) managing partner Matthew Layton has laid out the firm’s international strategy, aiming at becoming the ‘global law firm of choice for the world’s leading businesses’; a vision that includes introducing fresh key performance indicators, making new leadership appointments, and increasing US and Asia revenues to approximately 20% and 25% respectively over five years.
In an indication of the legal job market’s growing strength, research analysing vacancy rates at law firms has shown that job openings across England and Wales were up by 48% in 2014 compared to a year earlier, while real estate teams grew fastest in the City.
Despite the volatile economic conditions in Russia, Allen & Overy (A&O), Skadden, Arps, Slate, Meagher & Flom and Vinson & Elkins (V&E) remain active in the region after having scored roles on Eurasia Drilling Company’s (EDC) delisting and subsequent minority stake sale.
Mishcon de Reya client and celebrity chef Gordon Ramsay has lost a High Court battle over the £640,000 annual rent of a London pub.
Last week saw Clyde & Co expand its employment and personal injury practices with hires from DWF and Hill Dickinson, while Hunton & Williams grew its City energy and infrastructure practice. In Paris, Squire Patton Boggs expanded its international disputes practice with a double partner hire as well as a team of associates.
The senior judiciary has gone further towards increasing diversity in its ranks as it names its first female senior presiding judge (SPJ) in the latest round of appointments.
Continue reading “Judicial diversity: First female senior presiding judge appointed”
Osborne Clarke (OC) has relaunched a dedicated private wealth practice, following the departures of partners Sandra Brown, Robert Drewett and Mark Woodward in 2013.
Ernst & Young’s (EY) legal team has launched in Sweden with the hire of a six member team in Stockholm, including two partners from Swedish commercial law firm Delphi, completing its coverage of Scandinavia.
Continue reading “Aiming for 80 jurisdictions: EY law launches in Sweden with Stockholm office”
Fried, Frank, Harris, Shriver & Jacobson has decided to close its Hong Kong and Shanghai offices, leaving the US firm without an outpost in Asia.
Continue reading “Leaving Asia: Fried Frank closes down in Hong Kong and Shanghai”
The UK’s Serious Fraud Office (SFO) has today (19 January) announced it has closed its high profile investigation into the $11bn sale of British software firm Autonomy to US computer giant Hewlett-Packard in 2011 due to lack of evidence, a move that brings some closure for Autonomy founder and Clifford Chance client Mike Lynch.
Reducing legal spend is an arduous task for many in-house counsel that face increasing pressure to manage cost efficiency. But, in a demonstration of the increasing cost pressures facing firms, such a feat has been substantially achieved by the UK arm of telecoms giant Telefonica which has reduced its external legal spend by 66% since 2012.
Bird & Bird’s latest limited liability partnership (LLP) accounts show turnover at the firm grew 5% from €293m to just under €309m in the year to 30 April 2014, but that profit at the LLP was down 5% from €60.3m to €57.1m as staffing costs rose.
