The Lawyer Africa Elite 2014 features an in-depth look at 46 leading independent firms’ strategies in 15 key sub-Saharan jurisdictions, as well as the views of in-house counsel from some of Africa’s largest companies... Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
A US law firm has merged its money-management practice with an investment firm to form what it believes is the first partnership of its kind.
Bingham Dana - a Boston-based 400-lawyer firm with offices in London, New York, Washington, Hartford, Los Angeles and Singapore - has joined forces with Legg Mason to form Bingham Legg Advisors (BLA).
Legg Mason handles more than $93bn for institutions, wealthy individuals and mutual funds and the new joint venture will start life with $1.3bn under management.
Peter Simmons, the former director of Bingham Dana's fiduciary services group unit and president of the BLA believes this is the first time that a law firm has joined up with an asset management firm.
He says: "When we first had the idea to form BLA we went looking for a similar body but were unable to find any template from which to work from. This is one of the reasons why the transaction was so time-consuming.
"We don't know if we are pioneers but in the absence of any evidence to the contrary, we're going to act as such."
BLA will operate from a Boston office, which will initially service all national and international clients, although demand may require further expansion.