3 November 2008
The Lawyer
Helena Kennedy QC: Doughty Street Chambers, London
What was your first-ever job?I had a Saturday job in Woolworths at 15. My first case in the law was defending a shoplifter at Tottenham Magistrate’s Court. She’d breached a suspended sentence and went to prison. I was bereft and thought it was my fault.
A&O looks to restructuring work to keep banking team ticking over
With the choice instructions going to its rivals, can Allen & Overy count on insolvency work?
A&O, Addleshaws act on fourth building society merger
A&O and Addleshaws have squared up on a fourth building society deal, A&O advising Skipton on its takeover of Addleshaws client Scarborough.
A&Only half way
A&Only half way 7-November-2008Allen & Overy was the first magic circle firm to reveal its half-year figures today and revenues have stood up well despite the turmoil that has engulfed many of the firm's clients.
Addleshaws' turnover 4 per cent below budget
Addleshaw Goddard has recorded a fall in fee income of 2.8 per cent in comparison to the first half of the 2007-8 financial year.
Aegon bolsters legal team with new GC role
Leading insurance group Aegon has created the new role of UK general counsel, hiring Shepherd & Wedderburn corporate partner Marian Glen (pictured) for the position.
Allen & Overy half-year turnover up 11 per cent
Allen & Overy half-year turnover up 11 per cent" /Allen & Overy's (A&O) half-year turnover increased by 11 per cent to £548m compared to the same period last year.
Ashurst mid-year turnover up 7.5 per cent
Ashurst mid-year turnover up 7.5 per cent" /Ashurst has increased its turnover by 7.5 per cent this half-year compared to the same time last year.
Best-laid plans
The Swedish government’s plans to sell off the state’s stake in a range of industries were good news for lawyers. But the world economic crisis may have put paid to them.
Bird & Bird turnover surges 30 per cent at mid-year
Bird & Bird has recorded an incredible 30 per cent rise in turnover at the half year point.
Birds of a feather
Now that Bird & Bird has arrived in the country, Finland’s legal sector has the chance to show it can keep company with the big boys.
Camerons rehouses insurance group
CMS Cameron McKenna is set to relaunch its insurance practice as a dispute resolution group with a focus on litigation arising from the credit crunch.
City trio finalises Kent schools building deal
Lovells, Nabarro and Ashurst have closed the £600m Kent Building Schools for the Future programme (BSF) – the largest BSF project to date.
Clarity Legal braced for launch of law firm restructuring offshoot
Consultancy Clarity Legal has today launched a subsidiary focused on giving advice to law firms that are restructuring their business.
Clarke Willmott puts 40 jobs on the line
Clarke Willmott puts 40 jobs on the line" /Clarke Willmott has joined the growing number of firms putting lawyers under threat of redundancy.
Clyde & Co turnover up 10 per cent at half-year
Clyde & Co has posted double-digit growth in its revenue during the first six months of this financial year, with fee income increasing 10 per cent.
CMS allies close to Moscow merger deal
The CMS network is close to reaching an agreement over a plan to merge the Moscow offices of CMS Cameron McKenna with its French and German allies.
Cobbetts, Halliwells go in search of further cuts
North West firms Cobbetts and Halliwells have launched further redundancy consultations as they seek to cut costs in the face of a looming recession.
Cracks show as crunch hits firms’ half-year figures
Camerons and Lovells eye double-digit growth as fee income stagnates across City.
Cravath to grow London disputes team
Cravath Swaine & Moore is planning to ramp up its London disputes capability less than a year after litigation partner John Beerbower relocated to the UK to launch a contentious capability.
Davis Polk, Kirkland, Simpson Thacher line up for election scheme
A trio of US elite firms are working pro bono to answer questions from US voters during the election.
Dentons turnover up 6 per cent at half-year
Denton Wilde Sapte has grown turnover by six per cent for the first six months of 2008-09 to hit £78.3m.
Dewey & LeBoeuf puts monthly distributions on hold
Dewey & LeBoeuf has suspended monthly partner distributions, with partners last receiving a payment in August.
Dickinson Dees to sell D3 Legal to Optima
Newcastle firm Dickinson Dees is set to sell its volume arm D3 Legal to the UK’s largest volume firm Optima Legal.
DLA Piper loses China specialist to Katten
US firm Katten Muchin Rosenman has hired a DLA Piper corporate partner in Chicago to lead its China practice.
DLA plunders Links for Asia finance bigwig
DLA Piper has raided Linklaters to recruit a new Singapore managing partner and head of projects and finance for Asia.
Eversheds' turnover drops 4 per cent
Eversheds' turnover drops 4 per cent" /Eversheds has seen turnover drop during the first six months off the financial year, with revenues sitting 4 per cent down on the same period last year.
Ex-Dell legal director strikes out on her own
The former legal director of Dell, Belinda Eriksson, has launched an employment boutique.
Facing the music
The other day a US lawyer I was chatting to happened to mention that he and his partners had been busy “adjusting our expenses”. Translated, this friendly little euphemism means “slashing lawyers and staff”.
Failure to secure merger sees Thelen say goodbye
Thelen Reid Brown Raysman & Steiner is set to dissolve, becoming the second US firm to do so in the last month.
Former Cravath partner White rejoins from the SEC
Former Cravath Swaine & Moore corporate partner John White is to return to the firm next year after a two-year stint at the Securities and Exchange Commission.
Freshfields makes up 11 to counsel role
Freshfields Bruckhaus Deringer has made its third round of counsel promotions this year, with the London office picking up just one of the 11 global promotions.
Gay and free?
During the downturn associates have some tough choices to make. To sit tight or move to an office in a busier jurisdiction? Which is an even tougher choice to make when you're gay.
Gibson Dunn snares Heller litigator Zweifach
Gibson Dunn & Crutcher has hired high-profile Heller Ehrman litigation lawyer Lawrence Zweifach for its New York office.
Government stats reveal drop in US legal jobs
The US legal services industry has suffered the first significant year-on-year drop in employment in a decade.
Hammonds begins lay-off talks with minimum 20 staff
Hammonds has entered redundancy consultations with at least 20 staff.
Hard times are making the case for compliance
Corporate crises present opportunities to put compliance programmes at the heart of board strategy, leading in-house lawyers told delegates at The Lawyer’s global compliance conference last week (29 and 30 October).
Hitachi Data Systems dials up new Emea GC
Technology company Hitachi Data Systems has hired its new general counsel for Europe, the Middle East and Africa (Emea) from telecoms company Cable & Wireless.
Howard Kennedy merges with DMA
Howard Kennedy has completed its second merger in as many months, despite making 46 redundancies earlier in the year.
Iceland banking saga hands A&O, 2Birds roles on Kaupthing UK sale
Allen & Overy (A&O) and Bird & Bird are the latest firms to win instructions resulting from Iceland’s banking crisis, acting on the sale of Kaupthing Singer & Friedlander’s (KSF) UK investment management business.
Latham, White & Case take lead on Credit Suisse funding project
White & Case take lead on Credit Suisse funding project" /Latham & Watkins and White & Case have scored the lead roles on Credit Suisse’s CHF10bn (£5.57bn) fundraising aimed at making the bank the best capitalised ...
Law firm freebie gives student electric shock
CMS Cameron McKenna has proved it’s not the brightest spark in the legal market - after a student received an electric shock from its law fair giveaway.
Law Society ballot bars the door to non-lawyers
Postal voters have rejected the Law Society’s plans to include non-lawyers as fee-paying society members.
Legal Services Commission cuts 600 jobs
The Legal Services Commission (LSC), which runs the legal aid scheme, is to axe 600 jobs over the next three years.
Lost in the post
The beauty of an international network of offices is that when work starts to dry up in one, there are plenty of other locations for staff to be redeployed to. Just ask Freshfields Bruckhaus Deringer, which earlier this year saw London managing partner Tim Jones formalise ...
Lovells defies crunch: turnover up 15 per cent
Lovells has seen fee income increase 15 per cent over the first half of this year, up from £225m at the same point last year to £260m.
Movember: 'tache of the Titans
Tulkinghorn and all of his male scribes are gearing up to grow moustaches for Movember, a charity scheme set up for everyday people to become 1970s legends and raise some money for prostate cancer in the process.
Movember: 'tache of the Titans - getting lippy
I feel I need to defend my face. “It’s for charity - people will be supportive”, I thought, naively.
Moves roundup: 3 November 2008
Addleshaw Goddard has ramped up its professional services and LLP practice by recruiting Rachel Khiara from Allen & Overy (A&O). She joins as a partner in London, having been counsel at A&O.
Nabarro's revenues flat for first half
Nabarro's revenues flat for first half" /Nabarro has posted flat growth for the first six months of 2008-09, bringing in £64m in revenues.
Nixon Peabody snares major Thelen team
Nixon Peabody has hired more than 60 lawyers from former dissolved firm Thelen Reid Brown Raysman & Steiner.
No firm is an island
When I joined FFW in 2005, I was surprised to find that there was no organised CSR programme. It seemed as though the partners felt there should be one and supported my subsequent proposals were met with immediate support.
No London promos again at Milbank
Milbank Tweed Hadley & McCloy has snubbed London for the second year running in the firm’s latest round of promotions.
North West lawyers set up admin law forum
Barristers and solicitors in North West have joined forces to launch the Northern Administrative Law Association ahead of the proposed regionalisation of the Administrative Court.
Norton Rose scoops HSBC-Ekonomi brief
Norton Rose has won an instruction from HSBC on the purchase of Indonesian lender Bank Ekonomi for $608m (£392.59m).
Norton Rose's fee income jumps 11 per cent
Norton Rose has seen double-digit growth in its revenues during the first six months of the financial year, with fee income increasing 11 per cent to £141.5m.
Opinion: External funding is an opportunity that comes at a price
Law firms are soon to have two separate sources of hitherto forbidden capital to nourish their ambitions. First, the Legal Services Act has opened up the prospect of everything from equity investment in law firms by non-lawyers to flotations – and now judges have started falling over themselves to encourage and support non-parties ...
Orrick takes Heller corporate team – with baggage
The demise of Thelen Reid Brown Raysman & Steiner last week is being observed from afar by the UK legal community. It is the second major US law firm to dissolve in a matter of months and a stark reminder of the ill wind blowing through the US legal market.
Pinsent Masons turnover up 6 per cent at mid-year
Pinsent Masons turnover up 6 per cent at mid-year" /Pinsent Masons has reported growth of 6 per cent at the mid-point of the 2008-09 financial year.
Pinsents, LG buck trend by winning Aim clients
Pinsent Masons and LG have boosted their Aim practices despite the turmoil engulfing the financial markets.
Safe as housing
Staff at Trowers & Hamlins are worried about redundancies.
Seddons
Based in leafy Portland Square in London’s West End, Seddons operates within the fortress of the Belgravia and Mayfair markets. It may reside in an upmarket part of town, but Seddons’ experienced managing partner Robin Austin is adamant that there is no ‘old boys’ network’ at the firm.
Seven more made redundant as Memery Crystal total hits 13
Memery Crystal has laid off two fee-earners in its corporate department following the firm’s second round of redundancies this year.
Simmons & Simmons misses budget by 1.5 per cent
Simmons & Simmons has missed its budget for the first half of the year, despite seeing its turnover increase by 5.5 per cent over the six months.
SJ Berwin settles on three US best friends
SJ Berwin has compiled a definitive list of US best friends after several years of planning, choosing to focus on its relationships with three firms.
Slaughters hands fee earners 10 per cent bonus
Slaughter and May has awarded fee-earners a bonus of 10 per cent of their salary, down slightly on previous years because of the uncertain economic climate.
Speakers line up regulators in their crosshairs ahead of The Lawyer Summit
With just days to go until The Lawyer Summit 2008, the general counsel leading the sessions are preparing to ;provide ;practical solutions to some of the most pressing issues facing in-house legal teams.
Special report: Scandinavia
The countries of Scandinavia have been affected to different degrees by the unfolding economic crisis, but all their lawyers are busier than ever.
Speechly Bircham helps GO3 sign David Beckham
Speechly Bircham has advised food maker GO3 on the launch of a healthy eating food range endorsed by David Beckham.
Speechly finds new home for Bagpuss
Holding company Coolabi has bought the rights to children’s television character Bagpuss.
Stephenson Harwood’s UK growth surge stalls
Stephenson Harwood’s UK growth surge stalls" /Stephenson Harwood's UK growth has stalled, with the international offices managing to pull up the firm's overall revenues by 4 per cent this half year to around £40m.
'tache of the Titans latest: using facial hair as an aid to networking
Before this whole Movember thing kicked off, I was a bit nervous about growing a moustache. It’s scary going into professional situations looking like a low-budget Groucho Marx. But far from being a barrier to social contact, the moustache is turning into a great ice-breaker.
Taylor Wessing vows to rebuild depleted Paris
Taylor Wessing vows to rebuild depleted Paris" class="inline_image inline_image_left" src="/pictures/web/images/14511_P5_desenilles.jpg" /Taylor Wessing and Nixon Peabody have both pledged to rapidly expand in Paris following the settlement of a court battle that resulted in the latter opening in the French capital with 25 of the former’s lawyers.
Teach First: Different class
Some recruiters may still question the relevance of teaching skills for the legal profession, but the success of the Teach First scheme is leading many to think again.
The domino effect
Denmark’s banking industry is collapsing at alarming rate. The situation calls for some creative lawyering, says Tom Phillips
The Lawyer In-House Summit, 6-8 November
Two days of frenetic networking and learning have come to an end, and it’s been a memorable time in Berlin. I haven’t had space to write about half of what’s been going on. So here’s a taste of what else was on offer.
The US and Obama: what next?
Lawyers are welcoming a tide of new regulation when America’s president elect takes office, but what form will that regulation take?
Tree for all: Ruth Daniels, The Generations Network
As the international vice president of legal for genealogy website The Generations Network, Ruth Daniels is relishing the challenge of new markets, she tells Tom Phillips
Tribunals shake-up creates two-tier system
The Tribunals Service has undergone a radical shake-up today with the launch of a two-tier system.
Trowers' revenues rise 16 per cent at half year
Trowers & Hamlins has surpassed its half-year budget, which forecast turnover growth of 15 per cent, posting a rise of 16 per cent on the first six months of last year.
Tulkinghorn: the month of Movember
Tulkinghorn and all of his male scribes are gearing up to grow moustaches for Movember, a charity scheme set up for everyday people to become 1970s legends and raise some money for prostate cancer in the process.
UK mediators help clear Indian backlog
The Indian government has called on UK mediators as it attempts to clear a backlog of 29 million disputes that are clogging up its court system.
Wachtell promotes six to the partnership
Wachtell Lipton Rosen & Katz has made up six lawyers to the partnership in the New York firm’s latest round of promotions.
Web Week: 3 November 2008
The Lawyer’s Web Week is a weekly commentary on legal activity on the web. This includes an overview of the best of the week’s blogs. If you want to direct us to useful links, email webweek@thelawyer.com.
White & Case calls time on Milan office as hunt for merger target ends in failure
The news that White & Case is to close its Milan office and pull out of Italy came just as the firm started to implement recommendations from management consultants McKinsey & Co (The Lawyer, 27 October).
Winter remains on top at Taylor Wessing
Taylor Wessing has re-elected Martin Winter as senior partner to serve another three-year term.
Wragges' turnover down at half-year stage
Wragges' turnover down at half-year stage" /Wragge & Co is forecasting a six per cent drop in growth at the half-year stage, having attracted revenues of around ...
