Taylor Wessing has joined a band of leading City firms to have turned out a double digit increase in revenue for the 2013/14 half year (H1), unveiling a 10% increase in its UK turnover.
The 960-lawyer firm has credited extensive investment, including international expansion and a series of lateral hires for the uptick in its performance, which internationally saw its H1 revenues increase by 9%. Continue reading “H1 2013/14: Taylor Wessing reveals UK revenue increase of 10%”
Ashurst’s high profile global head of corporate Stephen Lloyd appears set to join Allen & Overy (A&O) after resigning from the newly-merged firm in November.
While Lloyd’s move is still subject to a vote by the Magic Circle firm’s partnership, one corporate partner at A&O told Legal Business: ‘It’s not final, but it’s very likely. We are pretty excited about him joining. He is a really good operational lawyer and a good cultural fit.’ Continue reading “Ashurst’s Lloyd set to join Allen & Overy subject to partner vote”
If anyone wanted to see what alternative business structures (ABSs) can achieve, they need look no further than Slater and Gordon (S&G).
If you take into account the sum announced as going towards buying Simpson Millar – a deal currently on ice – S&G has committed around £150m towards its UK expansion since first announcing the acquisition of Russell Jones & Walker in January 2012. Could it have achieved this without being a listed company? I’m no financial expert, but I doubt it; raising money through share issues has been key, although debt levels are up sharply as well. Continue reading “Guest post: The rise and rise of Slater and Gordon – a tale of the ABS era”
CMS Cameron McKenna has elected its first-ever female senior partner, as UK managing director and head of energy Penelope Warne takes over the role from longstanding management figure and corporate finance partner Dick Tyler, who has said he is ‘ready for a change’.
Warne (pictured), who joined the firm in 1993 and set up the firm’s offices in Aberdeen, Edinburgh, Rio de Janeiro and Dubai, will officially take up the post in May 2014 for a four-year term. Continue reading “Leadership: Dick Tyler ‘ready for a change’ as CMS elects Penelope Warne as senior partner”
DAC Beachcroft has expanded its Latin American presence via a merger with Colombian alliance partner De la Torre & Monroy Abogados Asociados, which began trading as DAC Beachcroft Colombia yesterday (1 December).
The 1000-lawyer top 25 UK firm, which formally allied with the six-lawyer Bogata insurance firm in March this year ahead of the liberalisation of the Colombian insurance market, agreed the tie-up after partners voted in favour on 22 November. Continue reading “Latin America: DAC merges with Colombian alliance partner De la Torre & Monroy”
By any estimation 2012/13 was Berwin Leighton Paisner’s (BLP’s) annus horribilis but the top 20 firm is showing modest signs of recovery with today’s (2 December) announcement that its revenues are up by 6% on this time last year.
Partners at the 786-lawyer firm have for some time privately indicated that its 2013/14 revenues are showing signs of improvement and the 6% rise, while starting from a low base given its 5% decline from £246m to £233m last year, is confirmation that their quiet confidence is, to an extent, justified. Continue reading “H1 2013/14: BLP reveals a 6% increase in turnover”
Building on its decision earlier this year to introduce an element of merit to its associate pay, Slaughter and May has overhauled its associate bonus, moving away from a ‘blunt instrument’ flat rate bonus of 5% to a performance and seniority related uplift.
The overhaul – which was unveiled by the Magic Circle firm today (2 December) and follows its decision in January to create ‘good’ and ‘exceptional’ salary bands for associates from 4.5 years post-qualification experience (PQE) and upwards – will see associates paid up to a 12% bonus based on both their PQE level and performance. Continue reading “Merit driven pay – Slaughter and May introduces discretionary associate bonus”
