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.
Partners at Freshfields Bruckhaus Deringer bill up to £715 an hour for their work advising the Bank of England, The Lawyer has discovered after requesting the information under the Freedom of Information Act.
Freshfields billed the bank a total of £4.5m during 2008, including £3.3m in December, shortly after the bank launched its £200bn liquidity scheme.
Head of financial institutions Michael Raffan leads the relationship, having advised on the nationalisation of Northern Rock and the Government’s asset protection scheme.
Pre-discount rates for Freshfields partners advising the Bank of England range from £525 to £715 an hour, depending on seniority. Where discounts apply, Freshfields partners earn £445 to £550 an hour.
The bank said the £3.3m bill in December was likely to have included work undertaken over several months.
In 2009, the firm billed £463,000 in January and £572,000 in February.
In March, a Freedom of Information inquiry form revealed that Slaughter and May had billed the Government £22m, including £4m in November 2008.