NRF partner promotions delayed as firm moves to US financial reporting ‘to align with the global business’

NRF partner promotions delayed as firm moves to US financial reporting ‘to align with the global business’

Norton Rose Fulbright (NRF) is shifting its financial reporting to the US calendar year-end in a symbolic move towards a more integrated business.

The move, which the firm describes as a bid to align the European operations with the global business, also means NRF will not be announcing Europe, the Middle East and Africa (EMEA) partner promotions until December this year. Continue reading “NRF partner promotions delayed as firm moves to US financial reporting ‘to align with the global business’”

Back on track: DLA Piper revenue rebounds past $2.6bn as 62 lawyers make partner

Back on track: DLA Piper revenue rebounds past $2.6bn as 62 lawyers make partner

DLA Piper has bounced back from last year’s global turnover drop with double-digit percentage growth in net profit and promoted 62 lawyers to its partnership.

The firm’s global revenue rose to $2.63bn in 2017, up 7% on last year when turnover dipped below $2.5bn because of exchange rate fluctuations across its international business, which is divided between an international LLP and a US LLP. Continue reading “Back on track: DLA Piper revenue rebounds past $2.6bn as 62 lawyers make partner”

Lucky 13 in London as Kirkland unveils mammoth partner round and taps City rival for restructuring hire

Lucky 13 in London as Kirkland unveils mammoth partner round and taps City rival for restructuring hire

Underlining the meteoric rise of a group of elite US law firms, Kirkland & Ellis has unveiled one of the largest promotion rounds ever seen from a single legal partnership, minting 97 new partners, including 13 in the firm’s fast-growing City arm.

The number of London promotions is more than double last year’s round, when six lawyers were made up, and up on last year’s total tally of 81. It is also larger than the entire partnership of top 50 UK law firm Travers Smith. Continue reading “Lucky 13 in London as Kirkland unveils mammoth partner round and taps City rival for restructuring hire”

‘This latest round has been disappointing’: A&O vows to address lack of diversity as Magic Circle announces new partners

‘This latest round has been disappointing’: A&O vows to address lack of diversity as Magic Circle announces new partners

Allen & Overy (A&O) promoted just two women to partnership last month, 8% of its total round, with the firm stating it is working towards three clear 2020 targets to address the diversity concerns.

The targets include having 20% female partners; at least 30% women in each promotion round; and 30% of women in its partnership in non-elected leadership roles.

Continue reading “‘This latest round has been disappointing’: A&O vows to address lack of diversity as Magic Circle announces new partners”

‘Enhancing our approach to development’: A&O drops annual appraisals in performance pilot scheme

‘Enhancing our approach to development’: A&O drops annual appraisals in performance pilot scheme

Allen & Overy (A&O) confirmed today (4 May) that it has been running a performance pilot scheme for the last six months, dropping traditional annual appraisals in a new approach to performance management. Continue reading “‘Enhancing our approach to development’: A&O drops annual appraisals in performance pilot scheme”

News in brief – July 2015

News in brief – July 2015

FRESHFIELDS BREAKS CITY LOCKSTEP TO BRING IN KIRKLAND’S McKIMM

Freshfields Bruckhaus Deringer’s hire of Kirkland & Ellis high-yield heavyweight Ward McKimm made waves in the City in June. Joining as co-head of European leveraged finance, McKimm’s salary is understood to be well above the firm’s City top of equity.

 

Continue reading “News in brief – July 2015”

News in brief – May 2015

News in brief – May 2015

WHITTAKER STEPS DOWN AS LLOYDS GC

Group general counsel (GC) Andrew Whittaker is stepping down from his role at Lloyds Banking Group with deputy GC Kate Cheetham set to replace him. Whittaker joined the bank in May 2013 after having served as the legal head of the Financial Services Authority. The bank also saw the departure of disputes chief Philippa Simmons last month and began a redundancy consultation looking at cutting up to 25 mid-level positions.

 

Continue reading “News in brief – May 2015”

Ashurst on board with diversity targets of 40% female partner promotions and 25% partner ratio

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”

King & Wood Mallesons SJ Berwin hires A&O competition partner as globally KWM unveils promotions

King & Wood Mallesons SJ Berwin hires A&O competition partner as globally KWM unveils promotions

King & Wood Mallesons SJ Berwin (KWMSJB) yesterday (30 April) announced the hire of former Allen & Overy antitrust and competition partner Martin Bechtold to its Frankfurt office, as globally the Sino-Pacific-UK giant promoted a total of 26 lawyers to partner, including nine in Europe. Continue reading “King & Wood Mallesons SJ Berwin hires A&O competition partner as globally KWM unveils promotions”

Few are chosen – is partnership still worth the contest?

Few are chosen – is partnership still worth the contest?

Partnership prospects continue to decline in a gloomy economy, while UK law firms are increasingly promoting abroad or associates hired from other firms. Legal Business investigates whether the odds of making partner make it still worth the contest

When a trainee joins a firm, aspirations are high and the road to success is inviting. The route is mapped out from the start – train at the firm, become an associate, rise up the ranks to the ultimate goal – partnership. Sounds perfect.

Continue reading “Few are chosen – is partnership still worth the contest?”