Litigation is an engine room of firms’ earnings but many clients, keen to keep a grip on the purse-strings, are forcing a reworking of fee arrangements Ever since The Lawyer launched the Global Litigation Top 50 in November 2008 it has focused on the money. For the past five years, neatly kicking off in time […]
The hourly rate is fast becoming an anachronism and firms must heed client warnings and foster more flexible solutions, say general counsel The response to last week’s news story trailing the results of the exclusive in-house research contained in today’s The Lawyer Global Litigation Top 50 highlights the ongoing row about litigation fees. “Litigation lawyers […]
The Lawyer’s annual report into the top 50 firms for global litigation is eagerly awaited by those with ambitions to grow their contentious business. It’s clear who the winners have been. Freshfields was 27th in the rankings in 2008; now it’s 15th, with disputes representing more than a quarter of total turnover. Norton Rose Fulbright’s mergers have […]
Even magic circle firms are introducing a merit-based component to salaries Lawyers’ pay: too high or too low? Billed by the hour or fixed fee? It’s an endlessly interesting topic, not least for associates currently feeling the impact of more merit-based pay structures. Now, it seems, firms are viewing strict locksteps as a little old […]
As the city enjoys a boom, its foremost legal firms are poaching each other’s staff Confirmation that Irwin Mitchell’s commercial litigation chief John Lord will be joined by five partners and 24 staff in his move to TLT highlights the continuing fluidity of the Manchester market. Lord joined Irwin Mitchell to head up the Manchester […]
Boutiques bloom as the legal market adapts to a sluggish economy Although the eurozone crisis has in the main swerved the Netherlands, things have taken a turn for the worse recently. The eurozone’s fifth largest economy has had its AAA credit rating slashed to AA+ by Standard & Poor’s on the basis of its poor […]
Move of the week Clifford Chance has named Matthew Layton as global managing partner, taking over from outgoing head David Childs. Layton will begin his reign from the beginning of next year, replacing Childs who is to retire. Layton has been a partner at Clifford Chance since 1991. He became global head of corporate practice […]
London Metal Exchange GC Tom Hine has guided the institution through a Hong Kong buyout and out onto the stormier seas of Eurocracy The trading floor of the London Metal Exchange (LME) – the last ‘open outcry’ trading floor in Europe – is a bewildering place for the uninformed. In an inner ring of red […]
It has not been a spectacular year for Hong Kong’s top-end players but routine work remains strong and the mid-level market is toughing it out Demand for prime office space is always a good barometer of a city’s business climate. In the legal sector, changes in firms’ office space can reflect dealflow and staffing levels in […]
Louise Field has been head of client service and insight at Bird & Bird since 2009. She has previously worked for Ernst & Young and RBS. What would you say to graduates considering a career in client services? Client service is still a relatively new area in the legal sector, many smaller firms are only […]