As Herbert Smith Freehills gears up for a vote on its combined remuneration structure senior reporter Lucy Burton looks at the numbers behind the merger
Earlier this year Clyde & Co revealed a 33 per cent climb in corporate revenue, from £53m to £70.7m.
Clifford Chance’s finance operation is a complex beast, divided into two groups with some overlap. On the one hand there is the global financial group which includes lending and acquisition finance, derivatives, financial regulatory advice, insolvency and restructuring, real estate finance, project finance and asset finance. This group is headed by Mark Campbell.
Linklaters’ LLP accounts since 2006/07 illustrate the flattening impact of the post-crash years on the magic circle firm’s financials. The firm recently announced its 2012/13 global turnover figure of £1.195bn – still 7 per cent off its 2008/09 peak of £1.296bn.
Last week’s news that Clifford Chance global head of private equity David Walker is leaving to join Latham & Watkins in London marks yet another major departure from the magic circle firm’s practice, following six previous key partner exits from the firm’s funds, tax or buyouts teams since 2009.
Move On Up
London has been the focus for Dundas & Wilson in its recruitment and promotions over the past few years.
Consistent promotions keep Berwin Leighton Paisner’s London office buoyant, while international hiring continues apace
After a couple of mergers the London office’s retention has wavered but it been reinforcing numbers with lateral hires, particularly in corporate, employment and real estate
Slow but steady has been the way for this London-based firm as its clear career structure sees trainees progress through the ranks
The London outfit’s significant lateral efforts and healthy retention rate have provided it with a springboard for sizeable future promotion rounds