The Law Society’s latest financial accounts show that the cost of dealing with an increasing number of firms in financial difficulty doubled from £3m to £6m, in a year that saw the body enter the black for the first time since 2010 and soon-to-retire Law Society chief executive Des Hudson receive a pay rise of nearly 20%. Continue reading “Law Society back in black as intervention costs double and Hudson receives 19% pay rise”
Guest post: Good news for the SFO in Innospec – jury convicts former CEO and sales director
Dennis Kerrison and Miltiades Papachristos were found guilty [on Wednesday 18 June] at Southwark Crown Court of conspiracy to commit corruption. In a nutshell, that they gave or agreed to give corrupt payments to public officials and other agents of the Government of Indonesia as inducements to secure, or as rewards for having secured, contracts from the Government of Indonesia for the supply of fuel manufactured by Innospec. Continue reading “Guest post: Good news for the SFO in Innospec – jury convicts former CEO and sales director”
First Edwards Wildman City fallout since ‘revolt’ as Cooley one of three US firms circling
In many ways the only real surprise about the departure of Edwards Wildman senior London venture capital partner Shawn Atkinson to Orrick is the speed with which it has been announced, after Legal Business revealed on Tuesday (17 June) that the US top 100 firm is in talks with five London partners following a string of exits, with Cooley and two other US firms said to be circling. Continue reading “First Edwards Wildman City fallout since ‘revolt’ as Cooley one of three US firms circling”
Ashurst remuneration review sees partner profit points allocated up front
Ashurst is to adopt merger partner Blake Dawson’s system of allocating partner profit points at the start of the financial year, potentially ending criticism that its original appraisal system lacks transparency. Continue reading “Ashurst remuneration review sees partner profit points allocated up front”
Leadership overhaul for Clifford Chance as partners prepare to vote on Manco cut
Clifford Chance (CC) is expected to vote next month on cutting down its 16-strong management committee as part of newly-appointed global managing partner Matthew Layton’s election manifesto. Continue reading “Leadership overhaul for Clifford Chance as partners prepare to vote on Manco cut”
Guest post: Is sustainability improving corporate and professional ethics?
The ethical dimensions of in-house practice are a significant source of academic and practical interest, as the recent investigation of GM suggests. I have the pleasure of doing two projects where I engage with in-house lawyers on ethical questions: one on the ethics of legal practice and the other on legal risk. So it was with great interest that I read Bond Dickinson report Beyond Responsibility: The emerging role of legal counsel in sustainable business. Continue reading “Guest post: Is sustainability improving corporate and professional ethics?”
Comment: Partner recruitment – better but still a case of buyer beware
If the oxymoronic notion of partner recruitment didn’t exist who would invent it? On one level, of course, its emergence in the legal profession was inevitable given wider changes in careers and attitudes to work. Without some form of partner mobility law firms would become inflexibly segmented and partners effectively bound to a single employer. Continue reading “Comment: Partner recruitment – better but still a case of buyer beware”
CMS’ Aberdeen capability sees it awarded £572m BG Group disposal
CMS Cameron McKenna’s capability in Aberdeen has seen it selected ahead of fellow BG Group panel law firms Freshfields Bruckhaus Deringer and Clifford Chance to lead the energy producer’s £562m sale of a North Sea gas pipeline to Anglo-French fund manager Antin Infrastructure Partners. Continue reading “CMS’ Aberdeen capability sees it awarded £572m BG Group disposal”
Freshfields and Linklaters lead on SSP Group’s float
Freshfields Bruckhaus Deringer and Linklaters are advising on the float of SSP Group, the owner of Millie’s Cookies and Uppercrust, on the London Stock Exchange. Continue reading “Freshfields and Linklaters lead on SSP Group’s float”
Taylor Wessing promotes City trio in 12-strong partnership round
Taylor Wessing has unveiled its 2013/14 partner promotions, with three associates making the cut in London and a further nine across its European offices, marking a 25% drop on its promotion round last year. Continue reading “Taylor Wessing promotes City trio in 12-strong partnership round”
The Bar: 20 Essex Street announces new joint heads of chambers
Leading commercial litigation set 20 Essex Street has today (18 June) announced the appointment of Christopher Hancock QC and Duncan Matthews QC as joint heads of chambers from 1 August, where they will succeed outgoing longstanding chief Iain Milligan QC. Continue reading “The Bar: 20 Essex Street announces new joint heads of chambers”
Norton Rose Fulbright’s Martyr set to stand in upcoming global leadership election
He’s been a long time at the top but, having transformed London stalwart Norton Rose into a global challenger, he is not ready to hand over just yet. Yes, Norton Rose Fulbright’s longstanding chief executive Peter Martyr is being widely tipped to stand in the legal giant’s upcoming election for its top leadership role. Continue reading “Norton Rose Fulbright’s Martyr set to stand in upcoming global leadership election”
Greenberg Traurig hires Dentons London-based co-head of global real estate
Greenberg Traurig has hired Dentons London-based co-head of global real estate Eric Rosedale as its co-chair of international real estate. Continue reading “Greenberg Traurig hires Dentons London-based co-head of global real estate”
FCA sets aside £1.7m for Clifford Chance’s insurance industry probe
The Financial Conduct Authority (FCA) has set aside £1.7m for the independent inquiry being conducted by Clifford Chance (CC) into the regulatory body’s botched announcement of an investigation into the insurance industry, a freedom of information request has revealed. Continue reading “FCA sets aside £1.7m for Clifford Chance’s insurance industry probe”
Edwards Wildman faces five-strong London partner revolt following string of City exits
Edwards Wildman is in talks with five disgruntled London partners following a string of exits from the top 100 US firm and accusations from one ex-partner that the City site is being neglected by its Boston headquarters. Continue reading “Edwards Wildman faces five-strong London partner revolt following string of City exits”
Latham goes green with latest City hire of Macfarlanes environmentalist Paul Davies
In the latest of a series of heavyweight City hires, Latham & Watkins is to bring in Macfarlanes’ environmental specialist Paul Davies as a partner in its environment, land and resources group. Continue reading “Latham goes green with latest City hire of Macfarlanes environmentalist Paul Davies”
Hogan Lovells leads for Vodafone on €145m Cobra acquisition
Hogan Lovells’ Milan office has led on Vodafone’s €145m acquisition of Italian car electronics maker Cobra Automotive Technologies as the machine-to-machine sector is identified as the latest untapped market. Continue reading “Hogan Lovells leads for Vodafone on €145m Cobra acquisition”
Ashurst finance partner Simon Thrower latest to leave with move to Simmons
Ashurst finance partner Simon Thrower has quit to join Simmons & Simmons’ City practice within days of the announcement that corporate partner Nigel Stacey is leaving for US firm Gibson, Dunn & Crutcher. Continue reading “Ashurst finance partner Simon Thrower latest to leave with move to Simmons”
Comment: Cameronics redux – a hard-to-grasp institution that looks set to surprise
Given that I get paid to poke around law firms’ inner workings, it’s not that often that I find it hard to get my head around a law firm but CMS Cameron McKenna in its 2014 form is one such creature. Continue reading “Comment: Cameronics redux – a hard-to-grasp institution that looks set to surprise”
Comment: Marking your own homework, Dentons and a defence of PEP
It would almost be too easy to pick holes in the letter that Dentons has supplied to the media to justify its attempt to withhold its profits on the basis of Olympian high principle. But I won’t let that stop me. Continue reading “Comment: Marking your own homework, Dentons and a defence of PEP”