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Allen & Overy's (A&O) London lawyers are going to be 15 per cent richer starting in three weeks' time.
As we revealed this morning, Allen & Overy is launching a spanking new pay and career structure for associates and trainees. Managing partner David Morley and HR head Genevieve Tennant have been consulting associates for nearly a year on the new package.
The proposals include a 15 per cent pay rise across the board, which brings the newly qualified salary level to £63,500. For more detail on the proposals, see www.thelawyer.com.
And for more analysis on the A&O move and what it means in the battle for City talent, see The Lawyer on Monday.
Otherwise, competition hires are the flavour of the month. First, Christopher Bellamy resigns from the Competition Appeals Tribunal for Linklaters, and now Freshfields has hired the Office of Fair Trading's senior director of competition Simon Priddis. It's all go for antitrust lawyers, we can tell you.