European partners at beleaguered King & Wood Mallesons (KWM) have been given a lifeline by the Asia partners at the firm, who have agreed to stump up cash in exchange for a lock-in and a capital contribution.
Continue reading “£14m and a 12-month lock-in: Asia lays out terms of KWM bailout package”
The beleaguered European arm of King & Wood Mallesons has been hit today (27 October) with yet another blow as it has emerged that four heavyweights are to quit its City office, including private equity partner and major biller Michael Halford, former managing partner Rob Day, as well as corporate finance partner Andrew Wingfield and Jonathan Pittal. Continue reading “KWM halts recapitalisation as four heavyweights announce exits”
As Ashurst partners digest a year of tumbling profits and turnover, delayed profit distributions and a rising number of senior exits, the firm faces an estimated £55m cost to fit out its new Spitalfields office.
Continue reading “Ashurst braces for £55m fit-out hit as City office move looms”
Firm prepares to sub-let up to 40% of new London headquarters
As Ashurst partners digest a year of tumbling profits and turnover, delayed profit distributions and a rising number of senior exits, the firm faces an estimated £55m cost to fit out its new Spitalfields office.
Continue reading “Ashurst braces for £55m fit-out hit as City office move looms”
Partners asked for between €6m and €7m to cut debt.
The European arm of Dentons has made a capital call on partners to raise an additional €6m to €7m in a move to cut bank debt, described by European chief executive Tomasz Dabrowski as ‘good financial prudence’.
European partners – excluding the UK which operates as a separate legal entity – have each been asked to contribute up to €100,000 extra over a two-year period.
Continue reading “‘Good financial prudence’: Dentons’ European arm makes cash call”
RPC‘s insurance management consulting arm is pursuing significant expansion as it bids to hit a £50m turnover target within the next five years.
Continue reading “RPC Consulting targets £50m turnover in plans to challenge Big Four”
A buyers’ market for professional indemnity cannot hide law firms’ exposure to growing risks
For a profession often accused of being overly obsessed with risk when advising clients, it is ironic that law firms are taking on uncharted levels of risk themselves.
Continue reading “Taken to the limit – growing risks for law firms”
New software boosts expansion plans for firm’s start-up
RPC’s insurance management consulting arm is pursuing significant expansion as it bids to hit a £50m turnover target within the next five years.
RPC Consulting managing partner Rory O’Brien said the start-up had been boosted by its acquisition of financial modelling tool Tyche last year, which has led to new deals with high-profile insurance clients.
Continue reading “RPC Consulting targets £50m turnover in plans to challenge Big Four”
The European arm of Dentons has made a capital call to raise an additional €6m to €7m in a move European chief executive Tomasz Dabrowski calls ‘good financial prudence’.
Continue reading “Dentons European partners to stump up €7m for capital injection”
King & Wood Mallesons (KWM) has agreed to tightened security over borrowings from its prime lender Barclays Bank following a period of financial stress for the law firm.
