US banks have started to announce their results for Q4 2014, revealing a large hit to balance sheets from legal expenses with JPMorgan Chase spending $1.1bn and Citigroup $2.9bn, just in the three months to 31 December 2014.
Growing in the City: DWF expands corporate and banking team with two lateral hires
Sole adviser no more: Severn Trent to appoint at least two firms on new roster
FTSE 100 water company Severn Trent is set to move away from its sole advisor mandate with Eversheds, Legal Business has learned. The business, which is currently undergoing a panel review, will chose between two and five firms for its new roster, to be finalised by mid-February.
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‘Banging his head against the wall’: Justice secretary makes limited concessions as Commons passes judicial review reforms
The government has amended the Criminal Justice and Courts Bill to reintroduce further discretion in holding judicial reviews, helping the bill to pass the House of Commons last night (13 January) and returning it to the Lords for a third time.
Heading to the bar: Hogan Lovells streamlines dual management role as former arbitration co-head leaves
Hogan Lovells’ former co-head of international arbitration, Simon Nesbitt, is set to depart the firm and join the Bar, a move which coincides with the firm’s decision to streamline the dual management structure of the practice and continue with a single head.
Taking Silk: 93 appointed QC but level of female applicants remains ‘stubbornly low’
The appointment of 93 new Queen’s Counsel (QC) has been announced this morning (14 January), with the number of females awarded silk increasing by 39%. The Queen’s Counsel Selection Panel, however, has expressed concern that the number of female applicants ‘remains stubbornly low’.
Online service take two: Allen & Overy re-launches e-business
Allen & Overy (A&O), which recently has set the pace for providing alternative service delivery models such as its PeerPoint flexible lawyer initiative, has re-launched its online derivatives service in a bid to appeal to a broader set of clients.
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Succession planning: RBS appoints new group GC as Chris Campbell steps down
Deputy general counsel (GC) John Collins has replaced Chris Campbell as the group GC of the Royal Bank of Scotland as Campbell prepares to retire.
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‘Redefining leadership’: Hogan Lovells teams up with Oxford Said Business School on partner leadership programme
Hogan Lovells has begun piloting a new leadership programme for experienced partners with Oxford Said Business School, an initiative which the transatlantic firm says will enable partners to build a unified approach to leading the firm and ‘become roles models and distributors of a strong, shared culture.’
Go your own way: Lawyers at Covington & Burling and DLA Piper leave to launch boutiques
Having watched an increasing number of their peers depart during 2014 to launch boutique law firms, Covington & Burling‘s co-head of EU litigation and DLA Piper‘s former Middle East managing partner have quit their respective firms to set up their own boutiques.
Routes into law: Queen Mary teams up with Reed Smith on ‘degree with apprenticeship in law’
US law firm Reed Smith and Queen Mary University in London have created the first degree with an apprenticeship in law offered at an elite UK university.
First claim of the year: Allen & Overy selected by energy giants to sue Spain in large arbitration claim
Nine investors in Europe’s largest solar power plant, including German energy giant RWE, have instructed Magic Circle firm Allen & Overy to sue Spain at the World Bank’s arbitration court following cuts to solar energy subsidies.
Revolving doors: New Year moves at Eversheds, DLA Piper and HFW
Many City partners got the New Year started at new firms, with Eversheds, DLA Piper and Holman Fenwick Willan (HFW) making key hires in the City.
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Planning to ‘make a big impact’: Cooley raids Edwards Wildman and MoFo’s City offices to launch in London
US firm Cooley has made its long-awaited entrance to the London legal market, taking partners from Morrison & Foerster and Edwards Wildman Palmer to create a 55-lawyer UK practice.
‘Nothing is off the cards’: Kennedys launches in Scotland with plans to double headcount
Insurance firm Kennedys has finally entered the Scottish market with the launch of two new offices in Edinburgh and Glasgow.
Asia: Reed Smith establishes South East Asia corporate practice as Greenberg launches in Tokyo
Reed Smith has hired Stephenson Harwood’s South East Asia head of corporate Matt Gorman to launch a corporate practice in the region from its Singapore office.
‘A watershed moment’: Q&A with Cooley’s CEO on the firm’s London launch and philosophical decisions
Joe Conroy, chief executive of tech focused Californian firm Cooley, talks to Tom Moore on why it was harder to open in London than China and how the collapse of Edwards Wildman‘s city office created a ‘significant opportunity’ that led to a 55-lawyer launch.
‘The pharma sector is very busy’: Slaughters, Davis Polk and Skadden win roles on Shire’s $5.2bn acquisition
Slaughter and May was called upon by longstanding pharmaceutical client Shire on its biggest acquisition to date as it purchased biotech NPS Pharma, represented by Skadden, Arps, Slate, Meagher & Flom, for $5.2bn.
Cheers: Heineken UK gifts DLA Piper with principal legal adviser role
After much speculation and a lengthy review, the UK arm of global beer and cider producer Heineken has announced the appointment of DLA Piper as its principal legal adviser for a major proportion of work, a move which the company has made in a bid to cut down on external legal spend.
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Asia-Pacific: Cadwalader raids Latham’s Hong Kong office for seven lawyer team
Michael Liu, who was co-head of Latham & Watkins‘ Greater China practice and was formerly managing partner of its Hong Kong office, has led a seven lawyer move over to US rival Cadwalader, Wickersham & Taft.
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