Dechert bolsters European funds team with key City and Dublin hires

Dechert bolsters European funds team with key City and Dublin hires

Dechert has ramped up investment in its European funds business with a pair of hires, including Marianna Tothova in London from Ashurst.

The hire of Tothova, which comes amid a pacey recruitment drive for the US firm in London in recent months, coincides with that of Carol Widger from Maples and Calder as the managing partner of its Dublin office. Continue reading “Dechert bolsters European funds team with key City and Dublin hires”

Different origins, same excuses: Kirkland, Bakers, Weil Gotshal and Mayer Brown reveal UK gender pay gap stats

Different origins, same excuses: Kirkland, Bakers, Weil Gotshal and Mayer Brown reveal UK gender pay gap stats

US-based firms Kirkland & Ellis, Baker McKenzie, Weil Gotshal & Manges and Mayer Brown have revealed the gulf between male and female pay for their staff in the UK, with all four firms blaming fewer senior women employees for the significant disparity between genders.

As per previous disclosures from UK-based firms, all cite the preponderance of females in secretarial roles or fewer females in senior roles as the root cause of the disparity. But unlike some of the UK firms that have come under pressure for full disclosure lately, none of the firms disclosed gender pay gap for partner pay. Continue reading “Different origins, same excuses: Kirkland, Bakers, Weil Gotshal and Mayer Brown reveal UK gender pay gap stats”

‘Reputation is catching up with reality’: White & Case and Bakers enjoy City revenues gains as rivals stall

‘Reputation is catching up with reality’: White & Case and Bakers enjoy City revenues gains as rivals stall

London turnover down at Akin Gump, Debevoise and Reed Smith

The London outposts of leading international firms reported mixed results for 2016, with White & Case and Baker McKenzie reporting income growth while Reed Smith and Debevoise & Plimpton both struggled.

Continue reading “‘Reputation is catching up with reality’: White & Case and Bakers enjoy City revenues gains as rivals stall”

Global London: Has the City reached the end of its curious post-Lehman boom?

Global London: Has the City reached the end of its curious post-Lehman boom?

Will this year’s Global London report chronicle the high watermark for the Square Mile as a global hub for foreign law firms? The possibility has to be considered with the article 50 notice about to be delivered as I type these words, representing the biggest threat to London’s position since the 1990s’ run-up to the launch of the euro.

As it stands, foreign advisers continued to aggressively invest in London through 2016. The number of London-based lawyers employed at the 50 largest foreign firms, now numbers 6,033, an increase of 22% over the last two years despite a generally subdued UK legal services market. The elimination of King & Wood Mallesons (KWM) from our tables this year understates the growth through the last 12 months but in underlying terms, headcount probably grew at least 4% even allowing for the re-allocation of legacy SJ Berwin lawyers to US rivals. Given the KWM implosion, it was unsurprisingly a record year for partner recruitment, with nearly 200 laterals within the group. The overall pace of growth, however, slowed somewhat on 2015.

Continue reading “Global London: Has the City reached the end of its curious post-Lehman boom?”

The last word: American dreams

The last word: American dreams

‘We will continue to hire lawyers we see as adding something. That continues to be the mantra: hire great lawyers and your practice will grow.’

Richard East, Quinn Emanuel Urquhart & Sullivan

As our Global London report hits desks, the leadership at US law firms in the City weigh up the challenges ahead

MISSION STATEMENT

‘The firm has a clearly defined strategy for where and how we will grow. We will continue to build our top-ranked transactional, regulatory, litigation and trial practices and focus on the industries that are driving the global economy. Mission drift can happen if you take your eye off the strategy. The investments we make are for the long term and are key to ensuring we stay focused on what we need to do to serve our clients’ needs today, and in the future.’

Richard Trobman, vice chair, Latham & Watkins

Continue reading “The last word: American dreams”

‘We need to be in London to enable us to meet our clients’ global needs’: Another US litigation boutique launches in London

‘We need to be in London to enable us to meet our clients’ global needs’: Another US litigation boutique launches in London

Financial services boutique BuckleySandler is set to launch its first international office as it expands its global financial crimes practice.

Continue reading “‘We need to be in London to enable us to meet our clients’ global needs’: Another US litigation boutique launches in London”

Global London – Sweeping the board

Global London – Sweeping the board

Our 12th annual Legal Business Global London survey reveals the pressure a mounting US offensive is putting on City stalwarts. Can the UK firms resist the advance?

Maurice Allen, co-managing partner of Ropes & Gray’s London office, knows all about the major players in the City, having taken in Clifford Chance (CC), White & Case and Freshfields Bruckhaus Deringer during his career. ‘All US firms are doing extremely well,’ he says. ‘A number of firms made significant investments – they’re hiring because the market is playing very nicely to the US firms.’ A biased view perhaps but one that is backed up by the data in this year’s Global London survey: overall headcount of the 50 largest global firms in the UK is up by 6% on the previous year to 4,624 from 4,382.

Continue reading “Global London – Sweeping the board”