16 October 2006
Allen & Overy's (A&O) salary hike for associates has understandably sent rival firms into a spin as the market inevitably rushes to keep pace and match the increase. But the rise has had far wider implications than just those for the law firms.
There are not many property lawyers who haven't been past St Mary's Axe in the past week or so, skipping merrily along with their clients as interest on the sale of the Gherkin gathers pace.
As The Lawyer Global 100 will make so clear, Asia is where it's at. Even Mayer Brown Rowe & Maw has realised and is gearing up to open in Hong Kong in January. But for old Asia hands, it's not just about China. It looks like Korea is the new India; you can't get in there, but it's a potential goldmine.
City firm Hextalls has promoted commercial litigation assistant Kamran Rehman to associate level.
Commercial and common law set 3 Serjeants' Inn has boosted its clinical negligence offering with the hire of new door tenant Laurence Levy SC. Levy, an Australian silk, has recently been called to the English and Welsh bar and will carry out his practice in the UK from Serjeants' Inn. Stuart Brown QC, an existing door tenant at the set, who also focuses on clinical negligence work, will now do all his southern work from Serjeants' Inn as well as maintaining a practice from Park Lane ...
Allen & Overy client Macquarie has been successful in its bid for Thames Water in a deal that is valued at around £8bn, making it one of Europe’s biggest infrastructure deals to date.
Hats off to Macquarie for trumping its rivals on the bid for Thames Water, and hats off to Allen & Overy old hand Alan Paul for keeping the Australian bank in the fold. (See the full story.)
Magic circle firm launches new financial package in bid to retain talent
The prospect of earning £200,000 just five years after qualification rather concentrates the mind. But the Allen & Overy (A&O) associate reforms are not just about pay.
Engineering giant ABB has poached a new general counsel from EADS (European Aeronautic Defence and Space Company).
Allen & Overy (A&O) has awarded its associates inflation-busting pay rises and unveiled a new bonus structure connected to the firm's overall profitability in a bid to bolster retention rates.
Ashurst has confirmed the reappointment of managing partner Simon Bromwich for a second three-year term, leading up to 2010. In an internal announcement sent out on Thursday, the silver circle firm confirmed that its eight-member board had opted to re-elect Bromwich. The board had been informally canvassing the partnership over Bromwich's reappointment. Bromwich,who has been a partner at Ashurst ...
Guernsey firm Babbe Le Pelley Tostevin has appointed Ian Swan as its new head of litigation. The promotion aims to free up managing partner Andrew Laws, who previously held both roles, to focus on the firm's growth. Laws said: "This appointment is a further demonstration of our firm's continuing growth." The appointment coincides with Swan's promotion to the firm's partnership. Before joining the firm in 2004 Swan was a barrister with Crown Office Chambers for 18 years.
Baker & McKenzie has reported a 13 per cent increase in global revenues to break the $1.5bn mark for the first time, placing among the five largest firms in the world.
Unilever has continued the wide-ranging overhaul of its internal legal team with a groundbreaking outsourcing deal that will see Baker & McKenzie handle the company's entire trademark portfolio.
Allen & Overy and Irwin Mitchell's senior partners Guy Beringer and Michael Napier have been appointed as honorary QCs in the first honoris causa awards made since the introduction of the new silk system.
BHP Billiton chief legal counsel and head of external affairs John Fast took a $300,000 pay cut this year, but still managed to rake in a package worth some US$1.85m before long-term incentives.
The Gulf, Australia and Canada can't get enough of the UK's water companies. By Caroline Binham
Bird & Bird’s Italian offering has snared a star of Freshfields Bruckhaus Deringer’s Italian employment team.
Partners at Blake Lapthorn Linnell's London office have given a last-minute vote of confidence to the firm's merger with IP/IT firm Tarlo Lyons, withdrawing from merger talks with Matthew Arnold & Baldwin.
Slaughter and May’s best friends in Italy and Germany are to become flatmates in London after signing an 11-year lease on a joint office in the City.
Bredin Prat has scooped its first-ever instruction from BAE Systems after advising the company on the disposal of its holding in Airbus alongside best friend Slaughter and May.
A consortium of top business and civil rights groups has called upon MPs to ensure better safeguards against extradition.
CMS Cameron McKenna has made a rare lateral partner hire, luring a pensions partner away from the firm Taylor Wessing.
Lawyers have described the Competition Appeal Tribunal's (CAT) judgment in a case where a merged company felt that the Competition Commission had asked for unreasonable measures to be undertaken while it approved the merger as "significant".
Clifford Chance and Pinsent Masons have helped negotiate an end to the bitter dispute between Multiplex and The FA subsidiary Wembley National Stadium Limited (WNSL) that will allow the ground to open in 2007.
Clifford Chance has poached Allen & Overy financial services regulatory partner Simon Gleeson, its first banking lateral hire in London in six years.
Clifford Chance's Italian offices are to elect a new managing partner following the announcement that incumbent Nicholas Wrigley is to step down.
Chadbourne & Parke has gained banking and restructuring capability in London following a raid on Orrick Herrington & Sutcliffe.
US class action firm Cohen Milstein Hausfeld & Toll is set to launch in London in a move that could herald the arrival of US-style securities and shareholder class actions in the UK.
A litany of City real estate firms had their fingers in the pie when two City properties were sold by Canada-based property company Jesta Capital Corporation. SJ Berwin real estate partner Nick Minkoff and corporate partner Laura O'Neill advised Jesta Capital on its sale of 55 Old Broad St, E1, and Central House, Camperdown St, EC2, for £96.5m to the Greater London Office Fund, established through a joint ...
In the 9 October issue, The Lawyer reported that Watson Burton had wrongly redirected money from the miners' compensation fund to claims firms. In fact, the Law Society did not make such a finding. Watson Burton acted with its clients' prior written authority and made no wrongful deductions from its clients' awards.
Clarke Willmott has finalised its strategy review, confirming plans to launch an office in the North and for aggressive expansion in Birmingham.
Clifford Chance is set to confirm Mark Campbell and David Dunnigan for another four years as heads of banking and capital markets respectively. Partners were informed on Thursday ( 12 October) that after the close of the nominations, no candidates had come forward to stand against the incumbents. There is now a vote to confirm the appointments. Both Campbell and Dunnigan were elected in 2002. Dunnigan ...
Clifford Chance's hire of Allen & Overy (A&O) financial regulation partner Simon Gleeson - revealed yesterday on www.thelawyer.com - is in no way a tit-for-tat thing. That's what official sources are saying, anyway.
Tulkinghorn had occasion the other day to be chatting to the delightful Geldards East Midlands' senior partner David Williams, who counts among his clients the now-oxymoronic Derby County Football Club.
CMS Cameron McKenna is one of the UK's four remaining all-equity partnerships. For managing partner Dick Tyler this says as much about its future as its present. By Matt Byrne
Manchester-based Cobbetts and Halliwells are the first firms in the North West to sign up to bespoke LPCs with the College of Law.
The College of Law and social mobility charity the Sutton Trust have donated £1.5m to a scheme to attract nonpublic-school-educated people into the law.
The College of Law and social mobility charity the Sutton Trust have donated £1.5m to a scheme to attract non public school educated people into the law.
College of Law chief Nigel Savage has thrown down the gauntlet. The college is demonstrating its commitment to diversity in the legal profession by handing over £1.25m to a scheme to attract non-private-school-educated students into the law and is asking the profession to do the same.
Freshfields Bruckhaus Deringer client Compass has one less legal battle to worry about after US lawsuits against the caterer settled for £40m last week.
Ireland is experiencing a trend of relocations as companies cash in on their city properties and move out of town. By Mark Barr
Davies Arnold Cooper (DAC) has taken over Manchester-based construction boutique Moore & Co.
With Swansea city centre undergoing major regeneration the council's head of legal Dave Daycock is having to balance the roles of lawyer and manager. Jon Parker reports
In-house energy lawyers are among the best paid in the country, according a new salary survey that shows their average wage outstrips counterparts in the banking sector for the first time.
Dickinson Dees, Pinsent Masons and Walker Morris have acted on a £48m acquisition of architectural hardware company Carlisle Brass. Pinsent Masons advised Heywood Williams Group, a specialist distributor of architecture hardware, ...
Ashurst, Linklaters and Gibson Dunn & Crutcher are battling it out to advise newly merged Russian aluminium giants Rusal and Sual on the merged entity's proposed London listing.
Three West Australian firms are set to make legal history with a proposed IPO and listing on the Australian Stock Exchange (ASX).
Former Clifford Chance managing partner Peter Cornell has decided to resign from the magic circle firm.
Freshfields Bruckhaus Deringer has continued its trend of hiring lawyers from regulators with the appointment of the Office of Fair Trading's (OFT) senior director Simon Priddis.
Freshfields Bruckhaus Deringer must be rubbing its hands with glee as client Wolseley, the world's largest heating products distributor, last week signalled its intention to continue spending big on bolt-on deals.
Freshfields Bruckhaus Deringer has launched a sweeping review affecting over 100 staff in its support services teams.
Freshfields Bruckhaus Deringer and White & Case have made headway for future share offerings in the Republic of Kazakhstan, advising on the $2.03bn (£1.09bn) IPO of a Kazakh oil company.
Los Angeles firm Gibson Dunn & Crutcher has lured its second public official to the firm in as many weeks, hiring a Los Angeles-based US attorney.
Slaughter and May senior partner Tim Clark is a cunning chap. On the face of it, he's presided over a firm that has shrunk its global reach over the past decade: it has closed in New York and downsized massively in Paris, transferring its French-qualified lawyers to Bredin Prat.
Unlike the UK's DTI, Ireland's ODCE has power to prosecute criminal offences - and law firms have been correspondingly busy, reports Brid Munnelly
DLA Piper and Brick Court Chambers today lost two landmark cases in the Court of Appeal after two long-running cases of price-fixing were dismissed, upholding earlier decisions by the Office of Fair Trading (OFT).
Hammonds has lost yet another construction partner as London-based Richard Cooke goes in-house to construction giant Bechtel.
Media firm Harbottle & Lewis has advised the producers of West End musical Dirty Dancing on all rights matters, waltzing through a competitive tender for the work.
Slaughter & May and Herbert Smith have bagged the lead roles on Tata Steel UK’s £5.1bn takeover of Anglo-Dutch steelmaker Corus Group, in the biggest takeover by an Indian business of a foreign company.
Norton Rose’s Middle Eastern operations have been hit by the imminent departure of Dubai finance partners Nadim Khan and Zubair Mir to launch Herbert Smith’s new Dubai offering.
Embattled US company Hewlett-Packard (HP) has moved to fill the vacancy left by its ousted chief ethics and compliance officer, whose employment was terminated due to the ongoing identity fraud scandal at the company.
Ireland's corporate market is booming, with IEX becoming a local favourite. Brendan Heneghan reports
Hill Dickinson, led by property partner Paula Hanlon, has acted for property company the Maghull Group on its £21.25m acquisition of the Central Square shopping centre in the north Merseyside suburb of Maghull from LaSalle Investment Management. The acquisition was funded by Barclays Capital, which was advised by Addleshaw Goddard, headed by Manchester corporate partner Helen Corner. LaSalle ...
Criminal set Hollis Whiteman Chambers has appointed its first-ever chambers director after a strategic review earlier this year.
Pannone Solicitors has much touted its third place in the most esteemed gauge of employee satisfaction behind the water cooler - The Sunday Times' '100 Best Companies to Work For 2006'. But Tulkinghorn has always wondered just how Pannone does it.
Legal expenses insurance giant DAS has appointed its first head of legal services.
UK firms enjoy Chinese market expansion Good news for UK firms looking to beef up in the Far East. Exclusive research by The Lawyer Global 100 (full report out 30 October) reveals that UK firms are the most successful in terms of increasing their representation in China.
Much has been written over the past few years about the booming Irish legal market, but the significant upturn in fortunes is not restricted to the south. House prices, a reliable barometer of a country's fortunes, are going through the roof in the North. In the year to September 2006 prices rocketed by 33.4 per cent. This Ireland Special Report reflects the increased activity in the North, with a report on the major infrastructure projects that are literally transforming the landscape, ...
Tulkinghorn popped along to the Oval last week, the scene of many historic cricketing moments, such as Michael Vaughan finally lifting the Ashes or DLA Piper sports lawyer Mark Gay going in to bat for Pakistan (or at least its captain Inzamam ul-Haq over the ball-tampering affair.
Tulkinghorn was going to be a fighter pilot… that is if it wasn't for his paralysing fear of heights. But solace was found in the form of Herbert Smith real estate stalwart James Barnes, who confided that he too shared the fear.
The Hackney v Nike case made legal history because it was the first time a public sector body has tackled a corporate on IP issues. It has also made the sector think carefully about the value of its branding.
Kirkland & Ellis has lured trophy client property tycoon Robert Tchenguiz away from longstanding adviser Linklaters following the hire of partners Graham White and Raymond McKeeve.
Kirkland & Ellis has lured trophy client property tycoon Robert Tchenguiz away from longstanding adviser Linklaters following the hire of partners Graham White and Raymond McKeeve.
Legal consultancy the Kite Consultancy has hired four new consultants to facilitate the launch of two new departments. John Angel and Matthew di Rienzo join the new information and knowledge management group. Angel, who is the chairman of the Information Tribunal, was former head of online legal services at Clifford Chance. Rienzo, a qualified barrister, also spent time at Clifford Chance, where ...
The London office of Latham & Watkins has completed its first outsourcing deal for Alliance Boots, advising the health group on its unique distribution agreement with pharmaceutical giant Pfizer.
More than half the nation’s law schools are now involved in pro bono work, new research reveals.
Ukrainian firm Magister & Partners and Russian litigation boutique Legas Legal Solutions have brought forward their merger plans and will unify operations from 1 November.
European M&A activity has plummeted in Q3, according to the latest data from Mergermarket, dropping to volume levels not seen since Q4 2004.
The Reynolds defence against libel claims has been redefined after a crucial House of Lords judgment in favour of Finers Stephens Innocent client The Wall Street Journal.
Linklaters’ has found itself a new head of litigation in New York, poaching him, three more litigation partners and 12 associates from the Manhattan office of White & Case in an audacious raid that bolsters the magic circle’s litigation capability in New York.
Linklaters reshuffle sees new Asia head" /Linklaters' finance department is facing a change of leadership as global head Giles White moves across to become Asia managing partner and banking head John Tucker is indicating a wish to stand down at the end of the year.
Tired of yet more advice on a debt-for-equity swap? Does the prospect of being locked in the data room bore you to tears? Then allow Tulkinghorn to point you in the direction of an ad for a senior legal consultant placed in the hallowed pages of The Lawyer by recruiter TRC.
Lovells' real estate team has received a boost after picking up new client Christian Salvesen, a European logistics company.
Lovells and White & Case were left reeling following Thailand's recent bloodless coup, when the political unrest impacted on a major international arbitration case on which the firms were advising.
Judge David Mackie QC has been selected as the first head of the London Mercantile Court, which opens its doors today (17 October) in an effort to resolve less complex cases more quickly.
Birmingham-based firm Martineau Johnson has a new senior partner, electing head of funds and growth companies Roger Blears to the role.
Mayer Brown Rowe & Maw (MBRM) is soon to open a Hong Kong office in order to provide a China legal offering that it has conspicuously lacked up until now, The Lawyer can reveal.
Egorov Puginsky Afanasiev & Partners, that mouthful of a Russian law firm, landed its first high-profile mega-deal last week, sparking all sorts of identity crises within the firm.
Northern Ireland has come of age. As it prospers beyond recognition, Patrick Fleming looks at how public sector infrastructure is benefiting
Everyone knows China is the hottest place to be. But the question on the lips of most lawyers is how to achieve both entry into the mainland China legal market and get the most out of dealings with clients from China.
Pannone has launched a virtual chatroom, enabling the firm's equity partners to make important decisions, including partner recruitments, from their desks.
Partygaming is reviewing its in-house legal function as part of a wider assessment of its costs base as the online gaming company prepares to exit the US market.
Paul Hastings Janofsky & Walker has poached corporate specialist Basil Hwang from O’Melveny & Myers, continuing its expansion of the Hong Kong corporate team.
Chelsea property boutique Pemberton Greenish has bolstered its residential property practice with the hire of Lawrence Graham's practice head. The firm has hired Elaine Slee, former head of residential property at Lawrence Graham, as a partner. The hire follows Pembertons' appointment to the panel of residential ...
It looks as though 2006 will prove to be considerably better than 2004 for the international ambitions of US firm Perkins Coie.
Pinsent Masons has raided rival Eversheds in Manchester for the third time in a year, scooping commercial partner Scot Morrison.
The whole of Ireland may soon be served by a single electricity market, which will benefit everyone on the island, says Alan Bissett
US firm Reed Smith has announced its intention to merge with Chicago-based mid-sized firm Sachnoff & Weaver.
Birmingham firms Putsmans and Shakespeares have agreed to merge, creating a new £20m player in the Birmingham mid-market.
US litigation powerhouse Shook Hardy & Bacon is looking to enter the South Korean legal market by way of an informal alliance in an attempt to tap into the booming Asian manufacturing market.
Simmons & Simmons has further expanded its banking and finance team, hiring a finance services specialist from Clifford Chance.
Slaughter and May has strengthened its ties with its European best friend firms, moving into new joint offices in Brussels.
Stewarts Solicitors is taking on the Americans at aviation litigation.
IP boutique Wallenstein & Wagner is disintegrating, with specialist and national firms rushing to benefit.
Sudanese lawyer and member of parliament Salih Mahmoud Osman is seeking to change Sudan's legislation to bring the country's state security forces within the rule of law.
Sullivan & Cromwell is drawing up plans to launch its third office in China and its second on the mainland in an attempt to avoid over-stretching its operations in the country.
You don't often see human rights lawyer Gareth Peirce hanging out with the CBI.
What was your first-ever job?I worked Thursday evenings and Saturdays in a shop selling leather jackets and bags, then I moved to Marks & Spencer.
Globalisation has resulted in the growth of the Celtic Tiger, but do all the UK and EU companies in Ireland deserve the lower tax rate, asks Gavin McGuire
New Ucits III rules have re-energised the investment funds market in Europe. By Barry McGrath
Pinsents starts recovery in Manchester Pinsent Masons is intent on rebuilding its Manchester presence following the spate of losses it suffered earlier this year, and the summer has seen the national heavyweight begin its assault.
White & Case will be in court today (17 October) in the continued fight to prevent the extradition of retired businessman Ian Norris to the US.
Leeds-based Walker Morris has bagged Pinsent Masons star projects partner Mark Sanderson, who boasts close ties to the Ministry of Defence (MoD).
Watson Farley & Williams is almost doubling the size of its London premises.
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