21 August 2006
White & Case has boosted its finance group with raids on Linklaters and Weil Gotshal & Manges. Tom Schorling joins as a partner in Frankfurt from Weil, while Alan Rockwell joins as a partner in London from Linklaters, ...
Only two solicitors on the boards of FTSE100 companies have earned more than £1m in salaries and bonuses, not including share entitlements, according to annual reports.
Addleshaw Goddard and CMS Cameron McKenna have both scooped roles advising on Admiral Taverns' purchase of 769 pubs from Enterprise Inns for £318m.
Linklaters for derivatives lawsuit defence" /Linklaters has bagged the mandate from Barclays to defend it against a second major derivatives lawsuit in as many years.
Scottish firm Biggart Baillie has introduced a new bonus structure for its assistants and associates that will see its non-partner lawyers increase their remuneration by as much as 20 per cent.
The London office of Jones Day has poached business restructuring partner Andrew Rotenberg from Bingham McCutchen. Rotenberg, who was based at Bingham's London office and who joins his new firm as a partner, has been involved in insolvencies and restructurings, including those of Mayflower, Jarvis, Cordiant and Transtec.
Bircham Dyson Bell has abolished annual hours targets for its fee-earners in favour of setting annual revenue targets as part of the firm's aim to reach the £50m turnover mark.
Tulkinghorn admits that the relationship between lawyer and client can be a complex one. The law firm is often at pains to spell everything out clearly, but in such a way as not to offend the client.
Berwin Leighton Paisner's (BLP) head of property Robert MacGregor is set to continue to be one of the highest paid partners in the City, with an estimated £1.3m in drawings for the 2005-06 financial year.
With foreign bribery attracting the attention of the US authorities, in-house lawyers have to be on their toes to keep their companies safe from the long reach of US laws. By Matt Morley
Scottish firm Burness has reshuffled its management team, after promoting former head of property Ian Wattie to managing partner at the start of August.
Clifford Chance and Freshfields Bruckhaus Deringer have taken the lead roles on the £675m sale of Travelodge, the second time the two firms have acted on the hotel groups’ sale.
Cleary Gottlieb Steen & Hamilton has jumped into the bidding war for Canadian nickel producer Inco, advising Brazil's Companhia Vale do Rio Doce (CVRD) on its $17.6bn (£11.9bn) counter bid.
Cloisters Chambers has hired personal injury (PI) specialist Martyn McLeish from Birmingham giant No 5 Chambers. McLeish joined Cloisters last week from No 5's London annexe and will help to boost the set's flourishing PI team. His hire is part of a planned expansion process at Cloisters, with other tenants in areas such as employment due to arrive later this year.
Silicon Valley-based firm Cooley Godward has ended its long-running search for a merger partner, announcing a tie-up with New York litigation boutique Kronish Lieb Weiner & Hellman.
South East firm Cripps Harries Hallhas paid double its anticipated bonuses after a strong financial year.
Dickinson Dees has won a competitive tender to bag the key role advising Standard Life on its entire national commercial conveyancing portfolio.
Dundas & Wilson has hired Field Fisher Waterhouse (FFW) partner Kenneth Maxwell to lead its property finance team. Maxwell will join Dundas's London office after five years as a partner at FFW. He will focus on the mid to high-value property market and will be charged with growing the firm's real ...
The future of the UK's energy supply is an issue of critical importance. There was with little wonder, then, at the level of eager anticipation with which lawyers and industry bodies greeted the long-awaited Energy Review from the Government, published in July.
FerradaNehme has opened a representative office in London, becoming the first Chilean firm to do so.
Media communications and market research company Aegis Group has appointed Mark Biddle as its group general counsel from Aviva.
Freshfields Bruckhaus Deringer has hired the general counsel of air industry body Aviation Working Group (AWG) as a consultant. US lawyer Jeffrey Wool is secretary and general counsel at AWG, the industry body for legal and regulatory issues for aviation financing and leasing. He will continue his role at AWG, joining Freshfields' London office as an adviser.
Fulbright & Jaworski has developed a landmark innovation in public-private financing in the US, in the process ensuring that the New York Mets baseball team will have its long-awaited new stadium for the 2009 season.
A resurgence in renewable energy is being helped by transatlantic agreement, but lawyers must be aware of the cross-border legal implications. Michelle Thomas reports
After the Goldstein decision the extent and method of the SEC's regulation and enforcement over hedge fund managers has been thrown into uncertainty. By Mitchell Nichter
Herbert Smith has and scooped corporate rivals Freshfields to strengthen its ties with IT supplier LogicaCMG, after advising on its £882m purchase of Sweden’s WM-data.
Good old Hill Dickinson. Not content with supporting local arts by sponsoring Liverpool's role as the 2008 European City of Culture, the firm is going all green-fingered with a new plan to become 'carbon-neutral'.
As demands upon fee-earners increase and the mobility within the legal market is greater than ever before, the path to partnership remains a long one in many firms; and indeed it is not a route that the current generation of associates will all necessarily choose to follow. Therefore the question of how to keep bright, ambitious young lawyers motivated is one that many partners, HR and training professionals are currently grappling with.
The buoyant M&A market helped corporate practices enjoy a bumper year, with the magic circle once again rising to the top
A 24-hour helpline, five outreach programmes and valuable drugs campaign work put Release's legal team at the sharp end of charity law. By Jon Parker
Latham & Watkins has bolstered its Singapore office, adding Davis Polk & Wardwell corporate attorney Rajiv Gupta as of counsel as the firm moves to ramp up its offering to India.
The Law Society has proposed opening new routes to qualification.The alternative system would enable work-based learning centred on a new portfolio on which all trainees would be assessed. Trainees who wished to follow the new route would be able to register themselves with the Law Society's regulation board, then plan their own portfolio and training with a board assessor. The move is designed to address a shortage of training contracts.
Linklaters has more partners than any other firm in the City earning in excess of £1m a year, exclusive research has revealed. The firm has a stunning 124 partners who pocketed upwards of £1m during the past financial year.
Linklaters to probe Interserve's £25m hole" /Linklaters has been appointed by Interserve to investigate a £25m hole in the company's accounts. Interserve has suspended six senior managers from its industrial services division, which has clients including Heathrow Airport and BP, after finding that "control ...
Lovells has advised Standard Chartered (Pakistan) on its acquisition of an 80.9 per cent stake in Union Bank for $413m (£218.73m), marking the biggest deal in the Pakistan banking sector to date.
Midlands firm Martineau Johnson has received a £1.7m windfall from its Birmingham landlord following a breach of covenant.
Mayer Brown Rowe & Maw is planning ahead with its innovative new 'office of the chairman', as first revealed on www.thelawyer.com (18 August).
Nabarro Nathanson completed a great month for its corporate group as, along with Mayer Brown Rowe & Maw (MBR&M), Freshfields Bruckhaus Deringer and Tr
Allen & Overy (A&O) has boosted its New York litigation department, hiring former name partner of Milberg Weiss Bershad & Shulman Patricia Hynes.
Mills & Reeve has treated all of its staff to a bumper £650,000 bonus pool this year after reporting a sharp 22 per cent rise in turnover to £49m.
Mishcon de Reya is set to introduce what managing partner Kevin Gold has described as a "cradle-to-grave bonus system" at the beginning of its next financial year, in April 2007.
The chief legal officer of SunGard Data Systems Larry Gross has joined US firm Morgan Lewis & Bockius after the software house was bought by a private equity consortium for $11.4bn (£6.02bn) in April.
Nabarro Nathanson and Richards Butler both advised on one of the biggest corporate deals in the publishing sector this year, Euromoney's £221m purchase of Metal Bulletin. Nabarros corporate partner Gareth Jones led the six-lawyer team advising Euromoney, while partner Hywel Phillips at Richards Butler advised client Metal Bulletin. Euromoney stepped in to take Metal Bulletin from publishing rival Wilmington ...
It appears that the online gaming industry cannot stay away from the headlines. The feeding frenzy following BetonSports chief executive David Carruthers' arrest was not dissimilar to the fascination prompted by the largest of the online gaming floats last year. There are those who suggest that this arrest spells the demise of the industry. This is highly unlikely.
Despite recent moves to raise associate pay, the rate of increase in average partner profits in the UK's top 10 firms has outpaced significantly the growth in newly qualified salaries.
Average partner profits have outstripped associate salaries over the last six years, according to new research by The Lawyer.
Bristol litigation firm David Grist Solicitors and St John's Chambers have both shared a £70,000 boost in fees this August after representing shoe distributor Heelys in an aggressive patent enforcement campaign.
Blake Lapthorn Linnell has won Porsche Cars GB as a client, advising the company on all its European events.
Top tax barristers have become the premier league of the bar, with premier silks charging up to £5,000 an hour and £50,000 for a day-long conference.
Earnings for the top equity partners at Richards Butler's Hong Kong base are believed to have dipped from £3m to £1.25m over the past three years.
Salans is protecting itself against the increasingly weak US dollar by changing the majority of its offices' billing to euros.
The prospect of a sandwich lunch in a meeting room never fills Tulkinghorn with joy, but his hopes were lifted recently on arrival to just such a lunch at Eversheds. A platter of sarnies was accompanied by a 'sandwich menu', promising such delights as chicken and parmesan on foccacia, or crayfish and rocket.
A tug of war for electrical retailer client Dixons looks likely to break out between the rival IT outsourcing teams of DLA Piper Rudnick Gray Cary and Barlow Lyde & Gilbert (BLG).
Stock options are turning out to be the new area of corporate controversy in the US, with manipulation verging on the illegal becoming rife. Michael Feldberg reports
Sullivan & Cromwell has knocked Simpson Thacher & Bartlett off the top spot for M&A transactions in the US, racking up a total deal value of $317.95bn (£167.8bn) for the first half of 2006.
The superstars of the bar are continuing to command extraordinary fees, with 18 commercial and tax silks understood to have earned more than £2m last year.
Earning pots of money is one thing, but how do you know when you've really arrived in the high-rollers' club?Tulkinghorn is referring of course to status, something not easily measured by a scale as obtuse as the equity spread.
The Lawyer is taking a holiday next week but will return on 4 September with The Lawyer UK 100 Annual Report - the definitive guide to the finances of the UK's 100 biggest firms, 30 leading chambers and leading international firms in London.
What was your first-ever job?Newspaper delivery boy.
Tods Murray is gearing up for the election of its first remuneration committee in the autumn as part of the Scottish firm's ongoing overhaul of its lockstep system.
Last year it was children. For those with long memories one of Tulkinghorn's finest hours came when the great man decided to rank the UK legal market's best and brightest on a combination of money earned and offspring sired. The result was Tulkinghorn's inaugural 'Lawyer Offspring Survey', which produced the groundbreaking profit per child (PPC) index. The winner was Ashurst partner Ed Sparrow, who stormed ...
The senior partner of Warrington firm Avalon Solicitors has emerged as the UK's highest-earning solicitor, taking home a profit in the region of £13m last year. But he is now at risk of being struck off due to his role in the controversial miners' compensation scheme.
Advocates for International Development (A4ID), the City pro bono initiative dedicated to the UN's Millennium Development Goals, has confirmed its board of directors: Chris Marshall, an assistant in the dispute resolution group at Richards Butler, will chair A4ID and lead its trade practice team; Richard Leese, a litigation partner at
The future of nuclear power in the UK is a contentious issue and the recent Energy Review has done little to clarify things for lawyers, says Paul Ryan
Transatlantic relations are under pressure. As Deputy Prime Minister John Prescott criticises US handling of the Middle East, UK in-house lawyers are running scared over the prospect of the long arm of US law.
Swedish firm Cederquist has hired the managing partner of Vinge's Brussels office to kick off a major expansion push.
Radioactive waste is a major concern with nuclear energy, and strict legal control on any future solutions will be needed to deal with it. Matthew Williams and Lis Blunsdon report
Watson Burton chief emerges as Newcastle's top legal earner" /Watson Burton's Andrew Hoyle is the best-paid lawyer in Newcastle, The Lawyer UK 100 Annual Report 2006 survey reveals.
Money, money, money. Go on, admit it, you’ve been gagging to know all the little nuggets revealed in The Lawyer’s very first Money Issue. The UK’s richest lawyer last year was Andrew Nulty of Warrington’s Avalon Solicitors. You might well ask: “Who?”
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New York-based firm Weil Gotshal & Manges has submitted a successful amicus curiae brief defending the safety of war crime witnesses and their families.
Duncan Smith has barely had time to pause for breath since he set up WSmiths five years ago. In that short space of time the firm has grown from a one-man outfit to a firm with 13 lawyers. It now has three offices in the British Virgin Islands (BVI), Hong Kong and Uruguay and a turnover in excess of $5m (£2.64m).