13 October 2008
Allen & Overy (A&O) has scored the lead role on a deal to refinance the debt from the sale of the UK’s most expensive building, the HSBC Skyscraper at Canary Wharf.
The Newly launched Abu Dhabi media city twofour54 has turned to Dubai-based pay-TV operator Showtime Arabia for its first general counsel.
Addleshaw Goddard made 16 employees redundant this year, including two fee-earners - the highest single number made since 2003.
Addleshaw Goddard has promoted 22 lawyers to the role of managing associate.
Tulkinghorn has never attended the Great Northern Cook-Off. But if he did, he would try to get onto Addleshaw Goddard’s team. The lawyers took the competition by storm, winning four awards, despite calling themselves The Inedibles.
Bittersweet17 October 2008 With the credit crunch causing a commotion in the legal world, there's nothing quite like a holiday in the tabloids to brighten the mood.
Barlow Lyde & Gilbert (BLG) has hired Allen & Overy global head of knowledge management David Jabbari to become its first chief operating officer.
UK 200 Position: 74UK ...
Cadwalader Wickersham & Taft has suffered its third defection since it laid off 96 lawyers in July this year.
Clifford Chance's announcement yesterday that it was making 20 lawyers redundant in New York and Washington DC is not the first time lawyers in the US have faced the chop this year (see story).
Midlands firm Challinors has appointed a new management team as it bids to expand its footprint in the region. Helen Jarvis has joined the senior management team as HR director, while Jonathan Gamble has been appointed finance director. Both are former employees of regional rival Fraser Brown.
City law firms moving to new premises are facing the uncomfortable reality of paying above-market rents on new office buildings while struggling to sublet existing premises.
Cleary Gottlieb Steen & Hamilton has joined in the sale of struggling Benelux bank Fortis, securing the instruction for BNP Paribas on its €14.5bn (£11.3bn) offer.
For a small property firm founded just eight years ago, these could be dangerous times. But being small has its advantages, says Simon Manuel, joint managing partner at Clegg Manuel.
Clifford Chance announced it was laying off 20 associates in its US offices.
Turnover crept forward at Cobbetts this year by just over one per cent. Managing partner Michael Shaw claims that the firm was focusing on profitability and average PEP is up by 25 per cent, hitting £300,000 and so fulfilling Shaw’s 2006 pledge to reach that target within two years. But then that goal is easier to achieve if you reduce headcount and overhaul your partnership system. Cobbetts lost 83 fee-earners last year, while the equity has become slimmer. Twenty-eight out of 93 partners, ...
Whisky company William Grant & Sons has created a global general counsel role, hiring rated Coca-Cola Enterprises legal chief Eva Bishop to lead its new-look legal team.
Offshore firm Conyers Dill & Pearman has opened in Mauritius in a bid to bag work coming out of Asia.
What an astonishing month it’s been.
New York firm Curtis Mallet-Prevost Colt & Mosle is the latest international firm to open in the United Arab Emirates through the launch of an office in the Dubai International Financial Centre (DIFC).
Davenport Lyons has acted for yacht brokerage company Yachting Partners International (YPI) in its sale to BRS Yachting.
Davis Polk & Wardwell is advising the UK government on US aspects of its financial institution bailout.
DLA Piper has expanded its presence in the Gulf through a joint venture with the international division of Kuwaiti firm Al Wagayan Al Awadhi & Al Saif.
More than a fifth of law firms have had to lay off staff as a result of the economic climate, a new study has found.
Weightmans team in a month" /A seven-strong team is to leave Weightmans for DWF, joining six insurance partners that announced last month they were making an identical move.
Eversheds has hired one of the partners who left Hammonds at the end of its lock-in period to head its Leeds pensions group.
It was literally a last-minute intervention. At 11.59am on Wednesday 8 October, the Federal Reserve extended its standstill on Citigroup’s lawsuit over Wells Fargo’s bid for US bank Wachovia.
Tulkinghorn has seen law firms sponsor some strange events in his time, but he thinks Midlands firm Needham & James Solicitors may have trumped everyone.
West End firm Fladgate showed its confidence for the future with the decision this year to into a new office for the first time in its 248-year history. It will take on an extra 10,000ft of space in Great Queen Street.
Bates Wells & Braithwaite head of immigration Philip Trott has made a name for himself standing up for rappers’ rights
Bircham Dyson Bell lawyers face axe" /Bircham Dyson Bell has made three lawyers redundant, while another is in redundancy talks.
Freshfields Bruckhaus Deringer banking partner Sean Pierce has been appointed co-head of the firm’s financial institutions group (FIG) following the departure of previous co-head Perry Noble last month.
DLA Piper’s Dubai-based head of global Islamic finance Oliver Agha has left the firm, taking a three-lawyer team with him.
It's difficult being a UK lawyer if you have the fear of redundancy hanging over your head. But all hope is not lost. For those willing to make the move, the Middle East can be a safe haven for your career - not to mention your bank balance.
FirmAddress:Web:Telephone:Email:The Lawyer UK 200Ranking:Turnover:Profit per eq...
When Hammonds rev-ealed last June that it was suing 14 of its former partners for £3m of overdrawings, one of the firm’s insiders predicted that “there’s going to be an almighty spat”. His forecast has come true.
Irwin Mitchell strengthens partnership" /Irwin Mitchell has boosted its ranks with the hire of Bracher Rawlins litigation partner Jeremy Marshall and Davenport Lyons employment partner John Hayes in London.
It seems there’s never a dull moment in Italy at present, and the legal market is no different.
The Judicial Appointments Commission (JAC) has reinforced its call for more women and black minority ethnic (BME) people to apply to become judges after five places in the latest competition were allocated to women but no BME person was given a seat.
Katten Muchin Rosenman has become the latest US law firm to announce layoffs.
Insurance firm Kennedys has raided DLA Piper’s Birmingham office for eight fee-earners to ramp up its liability and professional negligence capabilities in the region.
US firm Kirkland & Ellis has made up five partners in London this year as part of a global round that saw 67 promoted.
Kirkland & Ellis has launched an Asia funds practice, moving UK and US partners moving to Hong Kong.
If you have been given the unfortunate news that you are “at risk” of redundancy what are your entitlements? And what should you do if you believe your rights have been breached? Here's a quick guide.
Trawling through the Solicitors Account Rules (SAR) is not fun, even for a hardened managing partner, general counsel or director of risk. But that is exactly what most of them have been doing in the past few weeks in an attempt to deal with the possibility that the money held by law firms in client accounts could be unprotected in the event of a bank insolvency.
Clifford Chance private equity partner Matthew Layton will today be voted into the post of global corporate head.
Manchester-based common law set Peel Court Chambers, headed by Northern Circuit leader Richard Marks QC, is to disband as a result of the legal aid crisis.
The Law Society has appointed Lord Hunt of Wirral to lead a wide-ranging review of how the profession is governed.
Lovells has been drafted in by liquidator Deloitte to advise on the administration of buy-to-let hotel group GuestInvest.
Hourly partner rates at the UK’s largest firms have hit £750 on average this year despite the economic crisis, research carried out for The Lawyer has found.
A trio of firms have sealed the US Embassy’s move south of the Thames from its iconic 20-34 Grosvenor Square location in Mayfair.
Tulkinghorn has noted that the credit crisis and the unstable economic climate have different consequences for different firms. At Davies Arnold Cooper (DAC) the turmoil has hit the in-house football league the hardest.
•Former McGrigors partner Christopher Shaw has left the Scottish firm to join the London office of Mintz Levin Cohn Ferris Glovsky and Popeo.
Energy watchdog Ofgem has recruited 20 Essex Street barrister Colleen Hanley as the second-in-command of its legal team.
The current downturn is starting to bite hard on the legal profession following a near 15-year bull run. The position looks bleak, and this will be brought home when firms prepare first-half figures and realise that the second half will, for most, be worse.
Orrick Herrington & Sutcliffe has become the latest firm to snap up a group of lawyers from collapsed firm Heller Ehrman.
The management information circulated to law firm partners is frequently of limited value – but its potential for driving behaviour means firms could benefit from taking a fresh look at what they are handing out, argues Jeremy Black.
These days being a partner at a law firm can be a strange experience.
The need to effectively manage the workforce is the most common justification given by firms for having a fixed retirement age. But, argues Peter McMaster, it is far from being watertight under current legislation.
Who would you least like to be stuck in a lift with and why?Gordon Brown. No explanation needed.
Simpson Thacher & Bartlett has won a beauty parade to advise the US government on its $700bn (£412bn) financial markets bail-out package.
As legal affairs director of the biggest supplier of drugs to the NHS, Teva’s Alex Thrower believes that, when it comes to practising law in-house, prevention is better than cure.
PricewaterhouseCoopers (PwC) has recruited former Freshfields Bruckhaus Deringer lawyer Ebrahim Ali to its tax litigation team.
Reed Smith Brum soloists aim for rapid expansion" /The managing partner of Reed Smith’s Birmingham office, which is set to split from the firm in January next year, has set his sights on achieving rapid expansion.
Several regional residential conveyancing practices have begun a second round of redundancies, taking the total number of job cuts in The Lawyer’s UK 200 to 730.
Salans has boosted its turnover by 20 per cent in the first three quarters of 2008, bringing in e150m (£117.97m) in its first year of reporting in euros. For the same period last year the firm’s revenue was £94.38m.
Korean technology company Samsung Electronics has created the position of European general counsel, hiring Jeremy Shewring from French IT provider Steria to fill the post.
Famed for his England strike partnership with Alan Shearer, footballer Teddy Sheringham has made an unconventional move into the legal industry. Footballers generally open pubs once they retire from the beautiful game, but Sheringham, in the guise of Walkers marketing man David Byrne, has opted for a new challenge.
The battle for the assets from Madonna and Guy Ritchie’s marriage is to be fought out by heavyweight family lawyers Helen Ward of Manches and Fiona Shackleton of Payne Hicks Beach.
Shearman & Sterling has bulked up its US international arbitration group, moving Singapore partner John Savage to its Washington DC office.
Shearman and Sterling has lost another partner in Germany, leaving its Munich office with just one partner.
Shearman & Sterling has named New York M&A partner Creighton Condon as its European managing partner.
The list of Freshfields’ referral firms makes for fascinating reading, says Julia Berris.
Sonnenschein Nath & Rosenthal has laid off 24 lawyers as well as support staff in its second round of staff cuts this year.
Tulkinghorn considers himself to be one of the most environmentally friendly people he knows, on account of him not owning anything electrical, or moving much beyond his drawing room.
The Solicitors Regulation Authority has accused the Law Society of overstepping its remit by launching a review of the regulation of the profession.
Flexible working is as necessary now as it was in the boom.
Norfolk-based Steeles Law has been retained by Formula 1 chief Max Mosley to take his privacy case to the European Court of Human Rights.
As the dissolution of Heller Ehrman shows, the reality of trading conditions can overtake even the largest law firms. But what courses of action are open to you if it’s your firm’s future that’s at stake?
Bath firm Thring Townsend Lee & Pembertons has launched a £1.5m claim for 14 farmers against the two laboratories at the centre of last year's foot and mouth outbreak.
UK 200 Position: 68UK ...
Allen & Overy's Indian referral firm, Trilegal, has lost three of its 10 partners, with the trio leaving to set up an independent firm with a senior banking partner from Indian firm Kochhar & Co.
The creation by merger of two 100-plus lawyer firms looks set to test the decade-long dominance of the top three Italian practices.
Wachtell Lipton and Sullivan & Cromwell have snared the lead roles on Morgan Stanley’s $9bn (£5.2bn) injection.
A good chunk of New York’s elite firms shied away from the US Treasury bailout mandate because of conflicts.
Careful conflict checking is more relevant than ever on Wall Street.
News that Clifford Chance is to lay of a fifth of its US litigation workforce was met with amazement by the Stateside legal community. Hardly surprising given that the firm has shed a total of 20 litigation associates at a time when litigation is expected to grow.
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Wedlake Bell has launched a redundancy consultation with six lawyers and 11 support staff.
Good news at last: someone’s hiring.