Osborne Clarke continues its upward growth trajectory with an announcement today (6 June) of a 46% increase in profit per equity partner (PEP) compared with last year’s figures. Continue reading “Financial results 2013/14: Osborne Clarke unveils a PEP increase of 46%”
Associate pay 2014 – ‘A good year’ sees CC boost salaries and bonuses across the board
Magic Circle firm Clifford Chance (CC) has significantly raised its salary package for its newly qualified (NQ) lawyers and junior ranks.
Salaries will be raised across the board, with first year trainees seeing an increase from £39,000 to £40,500 while year two trainees will receive an extra £1,500 to £45,500. Continue reading “Associate pay 2014 – ‘A good year’ sees CC boost salaries and bonuses across the board”
Zoopla! Freshfields and Slaughter and May line up for £1bn float of the UK’s second biggest property website
The anticipated £1bn initial public offering (IPO) of the UK’s second largest online property website has seen Magic Circle firms Freshfields Bruckhaus Deringer and Slaughter and May retained to advise as Zoopla prepares to list on the main market later this month. Continue reading “Zoopla! Freshfields and Slaughter and May line up for £1bn float of the UK’s second biggest property website”
Asia-Pacific: Taylor Wessing launches in South Korea with local tie-up
Taylor Wessing last month became the latest international firm to set up in South Korea, establishing an association with local full-service firm DR & AJU International Law Group.
Founded in 1994 and one of the region’s ten largest law firms, DR & AJU will add 120 lawyers, including 18 partners, to Taylor Wessing’s international reach. The Seoul-headquartered firm also provides offices across Russia, Kazakhstan and Singapore, and services in M&A, litigation and various corporate matters.
Continue reading “Asia-Pacific: Taylor Wessing launches in South Korea with local tie-up”
Energy lawyers welcome Queen’s speech as Infrastructure Bill set to open pathways to fracking
Energy lawyers are expecting a hike in UK shale gas projects after the Queen’s speech yesterday (4 June) outlined plans to widen trespass laws in a draft Infrastructure Bill. Continue reading “Energy lawyers welcome Queen’s speech as Infrastructure Bill set to open pathways to fracking”
Financial results 2013/14: CMS unveils flat revenues with profit up 3.3%
CMS has unveiled a marginal increase in revenue for the 2013/14 financial year, with turnover up by under 1% from €837.7m to €842.1m for the year ending 31 December 2013. Continue reading “Financial results 2013/14: CMS unveils flat revenues with profit up 3.3%”
‘Create an environment where you’re not necessary’ – Grayling tells LSB to work towards its abolition
The Lord Chancellor Chris Grayling yesterday (4 June) outlined plans for the Legal Services Board (LSB) to wind itself down as part of efforts to streamline an over-regulated profession. Continue reading “‘Create an environment where you’re not necessary’ – Grayling tells LSB to work towards its abolition”
Financial results 2013/14: Clydes revenue growth slows but records another strong year
Clyde & Co has maintained its strong financial performance of recent years by today (5 June) announcing a 9% increase in global revenues, with profits increasing by 11%. Continue reading “Financial results 2013/14: Clydes revenue growth slows but records another strong year”
In-house: Ben Sherman’s GC moves to Myla; DfT’s former GC Muttukumaru joins Monckton
Lee Gage has left Ben Sherman after five years as general counsel (GC) to join luxury lingerie retailer Myla in the same role. His move comes as Monckton Chambers yesterday (3 June) announced the arrival of the Department for Transport’s (DFT’s) former GC Christopher Muttukumaru as a tenant. Continue reading “In-house: Ben Sherman’s GC moves to Myla; DfT’s former GC Muttukumaru joins Monckton”
18 months’ notice commuted to eight – Field Fisher’s Eduardo Ustaran joins Hogan Lovells
Field Fisher’s high profile former head of privacy Eduardo Ustaran joins Hogan Lovells today (4 June), almost a year before the expiry of the exceptional 18-month notice period announced at the time of his resignation last October. Continue reading “18 months’ notice commuted to eight – Field Fisher’s Eduardo Ustaran joins Hogan Lovells”
EY hires Freshfields’ Richard Norbruis to head global transaction group
EY has made its third senior private practice hire in three months months with the announcement that Freshfields Bruckhaus Deringer partner Richard Norbruis is to lead the accountancy giant’s global transaction law practice. Continue reading “EY hires Freshfields’ Richard Norbruis to head global transaction group”
Financial results 2013/14: Taylor Wessing’s PEP up 21% alongside 7.4% increase in UK revenue
Taylor Wessing yesterday (2 June) became one of the earlier UK movers in disclosing its financial results for the 2013/14 year, posting a 21% rise in profit per equity partner to £657,000 alongside an increase in UK and global revenues of 7.4% and 6.4% respectively. Continue reading “Financial results 2013/14: Taylor Wessing’s PEP up 21% alongside 7.4% increase in UK revenue”
International expansion: openings for Charles Russell in Saudi; Eversheds in Durban; Osborne Clarke in Amsterdam
A trio of UK firms have this week expanded their international office base as Charles Russell agrees a formal association with Saudi Arabian firm Al-Soaib Law, Eversheds continues to enhance its operations in Africa via a tie-up with Durban-based Knight Turner and Osborne Clarke (OC) opens an office in Amsterdam with a four partner hire. Continue reading “International expansion: openings for Charles Russell in Saudi; Eversheds in Durban; Osborne Clarke in Amsterdam”
Know your client – Home Office targets professional advisers with tougher organised crime laws
City law firms may face increased red tape when accepting new clients onto their books after the Home Office today (3 June) unveiled plans to bolster legislative powers to imprison solicitors, accountants and others who suspect that their client is linked to organised crime. Continue reading “Know your client – Home Office targets professional advisers with tougher organised crime laws”
Ashurst on board with diversity targets of 40% female partner promotions and 25% partner ratio
Ashurst has become the latest firm to introduce gender diversity targets, committing to promote a greater percentage of female associates to partner, with a further goal that 25% of equity partners will be female by May 2018. Continue reading “Ashurst on board with diversity targets of 40% female partner promotions and 25% partner ratio”
Firms face additional partner pensions liability after Supreme Court defines LLP members as ‘workers’
Partnerships could now be saddled with a new layer of financial and administrative responsibility after a Supreme Court ruling last week found that partners are ‘workers’ for the purposes of whistleblowing legislation. Continue reading “Firms face additional partner pensions liability after Supreme Court defines LLP members as ‘workers’”
Freshfields increases associate pay across the board
Freshfields Bruckhaus Deringer today (29 May) unveiled a significant pay hike for its newly qualified (NQ) and junior ranks, with trainees also in line to take home £1,500 more, following a pay freeze in 2013.
Continue reading “Freshfields increases associate pay across the board”
Back in the machine: A&O strengthens high yield practice with Cahill Gordon hire
With competition between US and UK firms for dominance in key European finance markets intensifying each month, Allen & Overy (A&O) has laid down a significant marker. It has boosted its US-qualified lawyer ranks in London with the hire of Cahill Gordon & Reindel counsel Jake Keaveny, a high yield specialist, as partner.
Continue reading “Back in the machine: A&O strengthens high yield practice with Cahill Gordon hire”
Pastures new: Legal Business hits Fleet Street while Legalease welcomes a key new hire
After a decade based in Ansdell Street in leafy Kensington, Legal Business and the entire Legalease family are moving to more central, larger premises in Fleet Street.
Flight MH370: Kennedys’ aviation partner David Johnston on standby for claims
As the Malaysian government this week releases the raw data used to show Malaysian Airlines flight MH370 crashed into the southern Indian Ocean, Kennedys aviation liability and insurance partner David Johnston is on standby to deal with any potential claims arising against the airline. Continue reading “Flight MH370: Kennedys’ aviation partner David Johnston on standby for claims”