Former Linklaters’ global chief operating officer Simon Thompson (pictured) has joined Baker McKenzie’s London office as its new chief operating officer (COO) with effect from August.
Continue reading “Former Linklaters global COO to head Baker McKenzie’s London office”
A host of UK firms including Bond Dickinson, TLT and DAC Beachcroft have been appointed to West Yorkshire authorities’ legal framework (WYLAW) for three years.
A total of nineteen law firms have been appointed across ten lots which include childcare law, general litigation, routine property and contracts, commercial and IT. National firms Browne Jacobson, Ward Hadaway and Weightmans also feature on the roster. The last WYLAW review was carried out in June 2013 resulting in a panel which included Eversheds Sutherland and Pinsent Masons. Continue reading “Firms including Bond Dickinson, TLT and DAC Beachcroft appointed to local authority framework”
Casting an eye over the results for the world’s 100 largest law firms, 2016/17 has been the definition of grinding out a result. Not a pretty result at that.
The group as a whole hiked revenues 3% to $98.82bn, pretty much tracking the increase in lawyer numbers. In part due to the strength of the dollar, there are some surprising results. The number of $2bn-plus law firms has fallen from ten to eight (thanks to Freshfields Bruckhaus Deringer and Linklaters). The number of $1bn-plus firms falls from 35 to 34. Consolidation continues to be a force in the industry but almost exclusively in the global mid-tier, not its upper echelons. Continue reading “Comment: A grinding year for the Global 100 as US leaders assert dominance”
DAC Beachcroft‘s profit per equity partner has increased 20% from £358,000 to £432,000, despite subdued revenue growth which the firm attributed to global investments and challenging market conditions over the year.
The firm recorded a 3% revenue rise from £201.6m last financial year to £207m this year.
DAC Beachcroft notably further reduced its debt by £1m to £19m over the period. Continue reading “‘Particularly pleasing’: DAC posts 20% rise in PEP despite subdued revenue”
Trowers & Hamlins will retain 70% of its second-year trainees in newly-qualified (NQ) roles this autumn, while Withers has decided to keep 73% of its final-year group this year, both a fall from last year’s retention rates.
Seven Trowers’ trainees from ten-strong cohort will be retained to qualify into the firm’s commercial property, corporate, construction and real estate departments. Continue reading “Trowers and Withers post fall in autumn trainee retention rates”
Following Work Group’s conditional £18.8m reverse takeover bid for West-End firm Gordon Dadds, Work Group confirmed it has successfully raised £20m, as the firm gears up to publicly list in August.
Work Group said in a statement that it had raised £20m through the conditional placing of new ordinary shares in Work Group, at a post-consolidation price of 140 pence per share, which would give the enlarged group a market capitalisation of £40m, based on the placing price on admission to AIM. Continue reading “‘Major consolidator’: Work Group raises £20m as it gears up to list Gordon Dadds in August”
Ashurst has retained 95% of its 20-strong second year trainee cohort, with 19 of those in London accepting permanent newly-qualified (NQ) solicitor contracts at the firm.
King & Spalding litigation partner Christopher Wray, nominated as FBI director, earned $9.2m for his partnership share over the last eighteen months, according to documents.
Slaughter and May has announced today (12 July) that it will retain 91% of its second-year trainees for newly qualified (NQ) lawyer positions at the firm this autumn.
Continue reading “Magic Circle: Slaughters first to announce 91% trainee retention rate”
Freshfields Bruckhaus Deringer, Slaughter and May, Morgan Lewis & Bockius and Davis Polk & Wardwell all returned to act as co-owner Pearson agreed to sell a further 22% stake in Penguin Random House (PRH) to Germany’s Bertelsmann, with the UK education company aiming to recapitalise the business to generate net proceeds of around $1bn.
Mishcon de Reya has brought in Mike Owen from PwC as the fourth member of its expanding cyber security consultancy service, advising clients on cyber intelligence, risk consultancy and reputation management.
Continue reading “Mishcon boosts fledgling cyber security consultancy service”
Disruptive general counsel (GC) Christine Cordon has departed her role at luxury travel company Secret Escapes to become head of legal at venture capital business Arts Alliance Ventures.
Continue reading “Disruptive GC Cordon exits Secret Escapes for new role in venture capital”
Spanish banking giant Santander has appointed a host of firms including Slaughter and May, Ashurst and Reed Smith to its UK legal panel for three years.
Continue reading “Santander appoints firms including Slaughters and Ashurst to UK legal roster”
The Ashurst partnership has elected London partner Karen Davies and Sydney partners James Marshall and Barbara Phair to its 10-member management board for three years, in a year marked by revenue growth and some partner exits.
Continue reading “‘Exciting times’: Ashurst elects three new board members after mixed year”
As part of the panel appointment, which lasts until 2020, the four firms will act on rail franchise competitions, major rolling stock procurements and infrastructure projects.
White-collar crime specialists have scrambled across the City as the Serious Fraud Office (SFO) last month charged Barclays and four former executives with conspiracy to commit fraud, false representation and unlawful financial assistance in arranging a £7.3bn Qatar funding deal at the height of the 2008 financial crisis.
The speech, outlining the next two years’ statutory agenda, instead introduced a UK repeal and a customs bill and related European legislation to replace the EU’s customs regime, the world’s largest by economic output.
On 27 June, the European Commission (EC) fined Google a record €2.4bn for abuse of dominance in online shopping comparison search, paving the way for a raft of damages claims.
The June judgment followed a 9-11 May hearing, at which Ahluwalia admitted failing to ensure that a client’s defence in 2013 was filed in good time, resulting in default judgment and £500,000 damages and costs.
Sullivan & Cromwell and Wachtell, Lipton, Rosen & Katz led a host of elite US law firms advising Amazon on its $13.7bn purchase of Whole Foods Market, marking the online retailer’s first expansion into the bricks-and-mortar food industry.
Continue reading “S&C and Wachtell lead on Amazon’s $13.7bn Whole Foods buyout”
