The latest US general counsel (GC) compensation rankings have seen General Electric’s (GE’s) top lawyer Brackett Denniston hold on to first place despite a significantly reduced salary of $5.8m compared to 2012, as new entrants to the latest top 10 include Blackstone Group’s John Finley and Coca Cola’s John Parker. Continue reading “GE’s top lawyer holds on to first place in compensation rankings with new entries from Blackstone and Coca Cola”
Women in law: Quinn Emanuel’s name partner Kathleen Sullivan and London MP Sue Prevezer QC talk diversity
With leading international firms including most of the Magic Circle nailing their gender diversity targets to the wall, Quinn Emanuel Urquhart & Sullivan’s London co-managing partner Sue Prevezer QC and New York-based name partner Kathleen Sullivan spoke to Legal Business about women in law, the US litigation firm’s handle on diversity and its style of doing business. Continue reading “Women in law: Quinn Emanuel’s name partner Kathleen Sullivan and London MP Sue Prevezer QC talk diversity”
Financial results 2013/14: Shoosmiths posts 7% increase in revenue to £93m as Sackers drops 2% to £23.8m
LB 100 firms Shoosmiths and Sacker & Partners have unveiled their financial results for the 2013/14 year, with top 50 firm Shoosmiths recording a near 7% increase in revenue to £93m, while at City firm Sackers turnover is down by 2% to £23.8m. Continue reading “Financial results 2013/14: Shoosmiths posts 7% increase in revenue to £93m as Sackers drops 2% to £23.8m”
Guest post: A profession not at ease with itself or the world? The Bar’s working life survey
I took a little time to browse the Bar’s working life survey. It’s a large survey. Although it’s not immediately clear how representative it is, almost 3,300 barristers completed it. Here are some of the things I noted (this is a rather idiosyncratic list so read the report if you want a fuller view): Continue reading “Guest post: A profession not at ease with itself or the world? The Bar’s working life survey”
A&O, Addleshaw and Hogan Lovells line up on Co-op’s £620m pharmacy spin-off to Bestway
As the Co-operative Group moves to reduce its £1.2bn capital deficit and focus on core business lines it has turned to longstanding advisers Allen & Overy (A&O) and Addleshaw Goddard to lead on the £620m sale of its pharmaceutical business to Bestway Group, advised by Hogan Lovells. Continue reading “A&O, Addleshaw and Hogan Lovells line up on Co-op’s £620m pharmacy spin-off to Bestway”
Financial results 2013/14: RPC posts mixed results with revenue up 3% against 9% drop in PEP
RPC has this morning (21 July) posted mixed financial results for 2013/14, with revenue up 3% to £84.1m – representing growth of 40% since 2011 – but partner profits down by 6% to £26m. Profit per equity partner (PEP) came in at £338,000 for the period, a 9% drop on last year’s figure of £372,000. Continue reading “Financial results 2013/14: RPC posts mixed results with revenue up 3% against 9% drop in PEP”
Deal Watch: Freshfields and HSF lead on Liberty Global’s £481m acquisition of stake in ITV
Freshfields Bruckhaus Deringer’s London managing partner Julian Long has advised Liberty Global on the US media group’s £481m purchase of BSkyB’s 6.4% stake in UK broadcaster ITV, with Herbert Smith Freehills acting for BSkyB. Continue reading “Deal Watch: Freshfields and HSF lead on Liberty Global’s £481m acquisition of stake in ITV”
Revolving doors: High profile hires for DLA; Chadbourne; Dentons; Osborne Clarke; Simmons and Winston & Strawn
High profile lateral moves between some of the largest global law firms last week saw DLA Piper hire a four-strong real estate team from RPC in London led by Stephen Malley; Chadbourne & Parke strengthen its City project finance team with the hire of Shearman & Sterling partner Julien Bocobza; Dentons bring in Clifford Chance (CC) partner Perry Zizzi to head its banking & finance group in Bucharest; with further international hires for Osborne Clarke, Simmons & Simmons and Winston & Strawn. Continue reading “Revolving doors: High profile hires for DLA; Chadbourne; Dentons; Osborne Clarke; Simmons and Winston & Strawn”
‘Private wealth is at the heart of the merger’ – Charles Russell Speechlys talks strategy
As the partnerships of both Speechly Bircham and Charles Russell this week voted ‘overwhelmingly’ in favour of a merger that will create a firm with 170 partners, 500 lawyers and combined revenues of £135m, management at the newly-titled Charles Russell Speechlys are welcoming the prospects of becoming a top 30 UK firm.
Due to go live on 1 November, the union creates a private wealth powerhouse that Charles Russell’s senior partner Christopher Page says is ‘at the heart of the merger’. Continue reading “‘Private wealth is at the heart of the merger’ – Charles Russell Speechlys talks strategy”
Financial results 2013/14: Speechly unveils 1% revenue drop to £56.8m with PEP up 5%
Speechly Bircham has unveiled its financial results for the 2013/14 year, with preliminary figures showing that revenue was down slightly by 1.2% to £56.8m while net profit stands at £11.8m and profit per equity partner (PEP) rose 5% to £312,000. Continue reading “Financial results 2013/14: Speechly unveils 1% revenue drop to £56.8m with PEP up 5%”
Nabarro settles professional negligence claim for £10m
Nabarro has agreed to pay £10m to settle a £130m professional negligence claim brought against the firm by a former client unhappy with its handling of a litigation matter.
Continue reading “Nabarro settles professional negligence claim for £10m”
In-house: BT Global Services GC moves to Serco
UK outsourcing company Serco has hired BT Global Services general counsel (GC) David Eveleigh as its group GC and company secretary.
Continue reading “In-house: BT Global Services GC moves to Serco”
Clyde & Co’s ambitious strategy for China and global arbitration behind double trophy partner hire
Clyde & Co’s ambitious Greater China strategy has been credited with the trophy hire this week of Clifford Chance’s (CC’s) co-head of China litigation and arbitration Patrick Zheng to head its Beijing office, as in the Middle East Eversheds’ regional chairman Christopher Jobson joined as a partner in Abu Dhabi.
The hires form part of the top 15 UK firm’s wider long-term strategy to grow its international arbitration capability, particularly within the emerging markets. Continue reading “Clyde & Co’s ambitious strategy for China and global arbitration behind double trophy partner hire”
Comment: Advice for the new managing partner – don’t consult, just do
Given the amount of time I spend hanging out with managing partners it’s not unusual to be asked by law firms how they could tweak their governance or how they stack up against peers.
In one such recent conversation, I got to thinking about how best to prepare the new managing partner for the culture shock of moving from the clear purpose of a revenue-generating role to the ambiguous job spec of running a law firm. Continue reading “Comment: Advice for the new managing partner – don’t consult, just do”
Real estate: Ashurst and Reed Smith lead on prime £300m New Bond Street acquisition
Ashurst’s head of real estate investment David Jones has advised opposite Reed Smith on the £300m purchase of a 50,000 sq ft strip of prime real estate on New Bond Street, the first time in 40 years that the privately-owned Central London properties have been on the market. Continue reading “Real estate: Ashurst and Reed Smith lead on prime £300m New Bond Street acquisition”
Financial results 2013/14: Travers achieves record turnover up 13% to £97.2m with PEP up 12%
Top 45 LB 100 firm Travers Smith today (17 July) announced its strongest financial results to date, with turnover for the 2013/14 year up 13% to £97.2m – breaking through the £90m mark – while profit per equity partner (PEP) saw an uptick of 12% to £882,000. Continue reading “Financial results 2013/14: Travers achieves record turnover up 13% to £97.2m with PEP up 12%”
Deal Watch: Cleary London advises opposite Paul Hastings Milan on Whirlpool’s $1bn Indesit acquisition
Cleary Gottlieb Steen & Hamilton’s London office has advised Whirlpool, the world’s largest manufacturer of home appliances, on its $1.04bn purchase of a majority stake in Italy’s Indesit as the company looks to expand outside the US. Continue reading “Deal Watch: Cleary London advises opposite Paul Hastings Milan on Whirlpool’s $1bn Indesit acquisition”
Guest post: DRIP – a torrent of mass surveillance seems more likely
Last week, the Home Secretary announced that, with all party agreement, the Data Retention and Investigatory Powers Bill – (DRIP for short) – would be introduced into Parliament. Much of that is covered in the previous post of 10th July. Since then, criticism has mounted in relation to the late introduction of the Bill prior to the summer recess. Continue reading “Guest post: DRIP – a torrent of mass surveillance seems more likely”
Heading to the polls: Charles Russell and Speechly partners to vote today on £126m merger
Speechly Bircham is getting closer to closing its sought-after merger, as its partners and those at Charles Russell are voting today (16 July) on a union that would elevate the combined firm into the top 30 of the LB100.
‘A compelling combination’: Charles Russell and Speechly Bircham say yes to merger
The partnerships of Speechly Bircham and Charles Russell have today (16 July) voted ‘overwhelmingly’ in favour of a merger that will create a firm with 170 partners, a total of 500 lawyers, and combined revenues of £135m, elevating the combined entity into the top 30 of the LB100. The new firm will be called Charles Russell Speechlys.