Newly-merged transatlantic firm Squire Patton Boggs has bolstered its presence in Tokyo by tying up with Japan-headquartered corporate boutique Mamiya Law Offices (MLO). Continue reading “Squire Patton Boggs bolsters Asia presence with Tokyo merger”
Revolving Doors: DLA hires in France and the US; Simmons grows Bristol; Gibson Dunn expands in Beijing and Hong Kong
International expansion last week saw DLA Piper hire Holman Fenwick Willan’s (HFW) Paris head of tax Hervé Israël and bolster its US practice with a double litigation partner hire from Greenberg Traurig, while Gibson, Dunn & Crutcher expanded in Beijing and Hong Kong. Closer to home, Simmons & Simmons bolstered its growing Bristol presence with the hire of Osborne Clarke corporate partner Patrick Graves. Continue reading “Revolving Doors: DLA hires in France and the US; Simmons grows Bristol; Gibson Dunn expands in Beijing and Hong Kong”
Herbert Smith Freehills launches German competition practice with hire of Taylor Wessing head Michael Dietrich
Herbert Smith Freehills (HSF) has moved one step closer to offering clients a full service out of its still fledgling German offices with the launch of local competition capability led by Taylor Wessing’s former regional practice head Michael Dietrich. Continue reading “Herbert Smith Freehills launches German competition practice with hire of Taylor Wessing head Michael Dietrich”
Hogan Lovells ties up with Mexico’s Barrera, Siqueiros y Torres Landa
Hogan Lovells has made further inroads in Latin America by tying up with leading Mexican firm Barrera, Siqueiros y Torres Landa (BSTL), constituting the firm’s 46th and 47th offices in Mexico City and Monterrey. Continue reading “Hogan Lovells ties up with Mexico’s Barrera, Siqueiros y Torres Landa”
CC edges ahead in growth as Linklaters and Freshfields unveil financial results
Clifford Chance has emerged as the strongest-performing Magic Circle firm financially for 2013/14, as the UK elite all unveiled unaudited sterling figures to coincide with the launch of the Global 100 this month. Continue reading “CC edges ahead in growth as Linklaters and Freshfields unveil financial results”
Financial results 2013/14: Norton Rose Fulbright unveils revenue of $1.85bn and PEP of $660k
In its first financial year post-merger Norton Rose Fulbright (NRF) has recorded revenues of $1.851bn with profit per equity partner (PEP) estimated at $660,000, projecting the firm into the top 10 of the Global 100 for 2013/14. Continue reading “Financial results 2013/14: Norton Rose Fulbright unveils revenue of $1.85bn and PEP of $660k”
Bar and MoJ end fee impasse over high value legal aid fraud cases with further talks underway
Leaders at the Bar have agreed an interim deal with the Ministry of Justice to end the fee impasse that has threatened to disrupt high value legal aid fraud trials, with discussions to reform the payment scheme for the most costly cases underway. Continue reading “Bar and MoJ end fee impasse over high value legal aid fraud cases with further talks underway”
Financial results 2013/14: Fieldfisher breaks through £100m threshold with 10% rise in turnover
Fieldfisher has broken through the £100m revenue threshold reporting a 10% rise to £104m and a moderate 3% increase in profit per equity partner (PEP) to £415,000 for the 2013/14 financial year. Continue reading “Financial results 2013/14: Fieldfisher breaks through £100m threshold with 10% rise in turnover”
Financial results 2013/14: Ashurst unveils post-merger turnover of £586m and PEP of £801k as Simmons reveals return to growth
Ashurst has unveiled its first post-merger financial results, boasting revenues of £586m and a profit per equity partner (PEP) of £801,000. The results come as Simmons & Simmons has revealed a return to growth in 2013/14 with a 7% rise in revenue to £268.6m for the 12 months to 30 April 2014 and an increase in PEP of 5% to £550,000.
Taylor Wessing launches US rep offices in Palo Alto and New York
Taylor Wessing on 23 June announced the opening of two representative offices in the US to facilitate access to its European network. Located in tech-focused Palo Alto and New York, both offices are set to open in September this year.
The top 20 firm will not be practising US law, but instead plans to use its new US bases to push out work to its international network across Europe, CEE and Asia.
Continue reading “Taylor Wessing launches US rep offices in Palo Alto and New York”
Mishcon de Reya sees PEP soar by 16% while Pinsent Masons posts 4.6% revenue increase
Mishcon de Reya has hit its target of £100m in revenues by 2016, with 2013/14 turnover up 18% to £104.6m and profit per equity partner (PEP) up by 16% to £975,000, constituting 107% growth since 2009.
The results come as Pinsent Masons enjoyed an uptick in its financials for a second successive year, with revenue up 4.6% to £323.3m, while profit per lawyer increased by 11% from £40,000 to £44,500. PEP increased 4.7% from £387,000 to £405,000.
Trust Disputes – The Myth of Trust
Trust disputes can offer advisers a lucrative caseload and longer-term institutional and corporate relationships. Legal Business looks at the key players in a competitive market.
Wealthy business owners tend to have colourful lifestyles, families and ways of protecting their wealth, and these ingredients can often come together to form an explosive cocktail. Take Stanley Ho, the ageing Macau-based billionaire, who has been at the centre of a recent family feud over who would inherit his gambling empire. Having had four wives and 16 children, it was perhaps inevitable that family tensions would trigger incendiary litigation.
The Global 100 2014
A&O and Davis Polk London line up on €7bn IPO of NN Group
Billed to be the largest initial public offering (IPO) in Europe to date this year, Allen & Overy (A&O) and the London office of Davis Polk & Wardwell are advising on the sale of up to 77m ordinary shares in NN Group, valuing the Dutch insurer at €7bn and bringing in proceeds of €2bn for ING. Continue reading “A&O and Davis Polk London line up on €7bn IPO of NN Group”
Reed Smith builds City finance practice with Pinsents REF partner Matthew Heaton
Reed Smith continues to piece together its City finance offering with a series of lateral hires, as Pinsent Masons partner Matthew Heaton becomes the latest to make the switch, joining the firm’s international real estate finance practice. Continue reading “Reed Smith builds City finance practice with Pinsents REF partner Matthew Heaton”
Careers counsel for aspiring lawyers: Roche’s Funke Abimbola
Roche UK managing counsel Funke Abimbola (pictured) has embraced diversity in both her widely varied in-house activity and in her equally challenging voluntary work. Recognised as a leading healthcare and life sciences lawyer, she received the 2012 Association of Women Solicitors’ in-house award and most recently saw her team shortlisted for the 2013 in-house team of the year distinctions at the Legal Business Awards and Halsbury Legal Awards. Continue reading “Careers counsel for aspiring lawyers: Roche’s Funke Abimbola”
Financial results 2013/14: Olswang suffers further drop in PEP to £490k with turnover up 7% to £117.6m
Olswang has reported mixed 2013/14 financial results with profit per equity partner (PEP) down 4%, following a double-digit drop last year, while revenue is up 7% to £117.6m. Continue reading “Financial results 2013/14: Olswang suffers further drop in PEP to £490k with turnover up 7% to £117.6m”
Bird & Bird secures further international tie-up with Istanbul tech leader BTS
Bird & Bird has entered into a cooperation agreement with leading Istanbul IT and telecoms boutique BTS & Partners, just a week after announcing a similar arrangement with two Indonesian firms. Continue reading “Bird & Bird secures further international tie-up with Istanbul tech leader BTS”
Cleary bumps up London junior pay in end to salary freeze
Cleary Gottlieb Steen & Hamilton has increased its trainee and junior-level associate pay following a salary freeze, pushing second year post qualification experience (PQE) lawyers into a six digit sum. Continue reading “Cleary bumps up London junior pay in end to salary freeze”
Davis Polk promotes first City partner in five years
Davis Polk & Wardwell has made up its first London partner in five years with the promotion of corporate lawyer Reuven Young, in a further nod towards the investment the Wall Street firm is making in its City presence. Continue reading “Davis Polk promotes first City partner in five years”