Private client-focused firm Farrer & Co has made concerted efforts to polish its growth strategy, and has recruited CMS Cameron McKenna‘s head of financial control Julian Eastlake to develop the firm’s financial direction in a bid to optimise profits and sustain the growth of the partnership.
Mergerwatch – discussions crank up a gear as Morgan Lewis and Bingham look set to combine
After months of wrangling, the heavily trailed union between Global 100 firms Bingham McCutchen and Morgan, Lewis & Bockius looks set to go ahead, after a pre-recorded voicemail message from Bingham managing partner Steven Browne informed partners of the proposed union on Friday (19 September).
Akin Gump finishes the job and takes four more partners from Bingham
Akin Gump Strauss Hauer & Feld has continued its takeover of Bingham McCutchen’s $50m revenue London office with the hire of four more partners leaving only two partners representing the beleaguered US firm in the City.
Continue reading “Akin Gump finishes the job and takes four more partners from Bingham”
High Court rules Lord Chancellor acted ‘unlawfully’ in legal aid reform consultation
In a stinging blow to the government’s controversial and widely condemned plans to overhaul criminal legal aid, the High Court ruled on Friday (19 September) that the Lord Chancellor Chris Grayling acted ‘unlawfully’ over his failure to disclose the contents of two key reports during the consultation process.
Dealwatch: Linklaters acts on Microsoft’s $2.5bn deal for Minecraft as the firm sees deal flurry
Linklaters’ Stockholm outpost closed two major deals last week being selected by Microsoft to handle its $2.5bn acquisition of Mojang, which was advised by Mannheimer Swartling, and TDC’s $2.2bn acquisition of Get AS.
Income up for the top 100 law firms but top 10 see slide as Deloitte records differing fortunes in the first quarter
Accountancy giant Deloitte has recorded reduced fee income for the top 10 UK law firms in the first quarter of 2014/15, with a 2.7% fall as a result of a 2.1% decrease in fee earner headcount alongside a decline in sterling rates as a consequence of the strong pound.
‘We have dodged huge expense and uncertainty for businesses’: early partner reaction as Scotland says ‘no’
Scotland voted no to independence yesterday by a wider margin than many had expected, providing certainty to a legal market which has been hampered by the possible large-scale upheaval.
The Friday Edit: Bingham sees $50m team quit, Scots lawyers relieved and GC ethics get a prod
This is the third edition of our new review of the week, which I am now bitterly regretting as we are going to press today on an 80-page report. But I can’t let the kids down, so here’s a recap and a dash of commentary on the interesting legal things that happened in the last five days.
Rising Middle East activity attracts WFW to launch its first office in the region with lawyer trio setting up in Dubai
LB 100 firm Watson Farley & Williams has launched its first office in the Middle East with asset finance partner partner Andrew Baird leading the way to establish a base in Dubai.
‘It is to improve efficiency’: Ashurst cuts back overnight production team as it looks to offshore
Top 20 firm Ashurst has made 15 redundancies to its overnight production staff in London nearly halving the City firm’s 34-person team following a consultation process last month.
‘It will create confusion for clients’: SRA board votes to further open market to MDPs
In a decision that is sure to generate mixed reaction within the market, the Solicitors Regulation Authority approved measures yesterday [17 September] to progress its plans for regulatory reform, and voted to make it easier for multi-disciplinary practices (MDPs) to provide legal services under its regulation.
Guest post: So you think you want to be a lawyer…? The pro and cons of entering the legal profession
There are many careers that are worthwhile. All jobs should be important to the people who do them. And all roles have their elements of drudgery, anxiety and exasperation. This is true of being a lawyer as well, so if you think you want to be a lawyer can I offer you anything worthwhile?
Dealwatch: Phones 4u, with £105m profit and ‘cash in the bank’, enters administration with CC, A&O and CMS acting
Allen & Overy (A&O), Clifford Chance and CMS Cameron McKenna have all landed key roles advising on the administration of high street retailer Phones4u.
Comment: Converging on boom-time profits without a boom – the big four now and then
They say averages lie, though in my experience not as much as people, but producing an annual report with 2,000 data points as we do with this month’s LB100 means it can be hard even for professional anoraks such as myself to find the nuggets of meaning in the thickets of information.
Secured: Akin pulls off one of the largest ever City acquisitions with 22-partner Bingham team
Bingham McCutchen’s London office, which turned over $52.3m last year, will merge with Akin Gump Strauss Hauer & Feld in a move that will more than double the size of the firm in the City.
‘A key strategic objective’: Shearman continues to build its global M&A/private equity practice with London hire from Addleshaws
Addleshaw Goddard partner Ben Rodham, who joined the firm only 18 months ago, has joined Shearman & Sterling’s fast growing private equity group in London as the US firm eyes more work in the sector.
Guest post: Scotland, the day of the referendum – a look at the consequences of a Yes or No vote
18th September 2014 – Referendum Day in Scotland on the question of independence from the remainder of what is now the United Kingdom of Great Britain and Northern Ireland.
BLP brings in Magic Circle veteran Bob Charlton to lead on its Asian expansion plans
Berwin Leighton Paisner has parachuted in Bob Charlton to head its Asia group, a role he held at DLA Piper until late last year when a management reshuffle led to his exit.
Stephenson Harwood scales back on Asia offering with Guangzhou office closure as Hogan Lovells makes another hire
UK firm Stephenson Harwood has closed its office in Guangzhou as the firm reviews its strategy in China, while Hogan Lovells has continued to bolster its Asia offering with another lateral hire, as Paul Hastings’ Tokyo project finance head Joe Kim joining the firm.
Cadwalader grows London team as Ashurst capital markets partner returns to the firm
US firm Cadwalader, Wickersham & Taft has made a key hire to its global capital markets practice with Ashurst partner David Quirolo, as the New York-headquartered firm continues its efforts to rebuild its London finance team.