Allen & Overy (A&O) has achieved a sixth consecutive year of growth in 2014/15, increasing its global turnover by 4 per cent from £1.23bn to £1.28bn, while average profit per equity partner (PEP) grew by 8 per cent to £1.21m.
Lloyds Bank has hired ex-Barclays head of legal for corporate banking Joanna Carver as general counsel for commercial banking.
Skadden Arps Slate Meagher & Flom has topped worldwide deal rankings for the first half of 2015, while European and UK leader Freshfields Bruckhaus Deringer is the only magic circle firm to feature in the table.
Gide Loyrette Nouel is set to lose another lawyer in Paris as finance partner Fernand Arsanios departs to join Reed Smith’s financial industry group.
Defunct Icelandic bank Kaupthing has won its jurisdictional challenge to the High Court to have Vincent Tchenguiz’ £2.2bn claim against it heard in Iceland.
King & Wood Mallesons (KWM) has lost London-based private equity partner Simon Fulbrook to Goodwin Procter, while simultaneously adding private equity partner Laura Brunnen to its London office from Fried Frank Harris Shriver & Jacobson.
Irwin Mitchell has completed its seventh acquisition since gaining its ABS licence through after merging with P&A Receivables Services.
The Criminal Bar Association (CBA) has launched a two-week ballot of its members on whether to launch direct action following news it would not strike alongside legal aid lawyers this week, despite widespread membership support.
Herbert Smith Freehills has turned over £815m in its second financial year since becoming a fully merged firm, a rise of just 2 per cent on the previous financial year.
Jones Day has hired a five-strong team of lawyers from Gide Loyrette Nouel to join the Paris office’s TMT practice.
Merged food giant Kraft Heinz has promoted deputy general counsel Jim Savina to general counsel following the union of the two companies earlier this year.
Clifford Chance and Linklaters are the latest firms to have won mandates as General Electric (GE) stays on track to sell $100bn (£63.6bn) worth of assets by the end of the year.
Linklaters has reported a 1 per cent increase in turnover to £1.267bn in 2014/15, at the same time as managing partner Simon Davies confirmed he is stepping down early to join Lloyds Banking Group as chief people, legal and strategy officer.
Holman Fenwick Willan (HFW) has established a formal law alliance (FLA) with Singaporean firm AsiaLegal.
Freshfields Bruckhaus Deringer’s new managing and senior partner have said the next five years will be “crucial” for the firm to capitalise on new opportunities and international clients and increase efficiency and innovation.
Latham & Watkins M&A and private equity partner Graeme Sloan has joined Morrison & Foerster (MoFo) as the firm’s London corporate head and global M&A co-chair.
Olswang head of strategic development Nigel Rea has left the firm, becoming the latest in a number of management exits at the firm.
Belgian boutique Strelia has added an insolvency specialist to its ranks with the hire of Taylor Wessing partner Bart de Moor and two senior associates.
West End firm Spring Law has acquired London employment boutique Ferguson Solicitors, giving it a combined turnover of £5m.
The Criminal Bar Association (CBA) will not strike in protest at legal aid cuts on Wednesday (1 July), despite its members balloting 96 per cent in favour of direct action before the general election.
All the latest partner hires and other appointments within firms and offices in the Asia Pacific region.
Sullivan & Cromwell will retain 100 per cent of its autumn 2015 qualifying trainee cohort as newly qualified (NQ) lawyers.
Gibson Dunn & Crutcher and Weil Gotshal & Manges have won top roles on the merger of advisory and broking companies Towers Watson and Willis Group for $18bn (£11.45bn).
Lancashire Country Cricket Club (LCCC) has instructed RPC to bring a legal challenge against NatWest and the Royal Bank of Scotland (RBS) in relation to an interest rate hedging product sold to the club in 2009.
Blake Cassels & Graydon, Cravath Swaine & Moore and Weil Gotshal & Manges have all won top roles as General Electric (GE) sells its fleet businesses in the US, Mexico, Australia and New Zealand to Element Financial Corporation for $6.9bn (£4.4bn).
Allen & Overy (A&O) contract lawyer service Peerpoint is continuing to focus on international expansion, with sites in Asia and Europe thought to be in the pipeline.
Chivas Brothers, a member of the Pernod Ricard group, is to carry out a panel review of its UK legal advisers with plans to cut the roster from 16 to around seven.
Pinsent Masons is set to hire additional project managers across its business over the next 18 months and has designed a project manager toolkit to assist the firm’s lawyers.
Chinese firm Grandall has opened its first office in the US in Silicon Valley, aiming to capitalise on growing Chinese investment in the global technology innovation hub.
Lawyers in London, Leeds and Manchester have voted to strike, refusing to take on legal aid work after 1 July, when new rates are set to come in.
Slater & Gordon saw its share price fall 38.3 per cent following the news of investigations being carried out by the Financial Conduct Authority (FCA) and the Australian Securities and Investment Commission (ASIC).
Orrick Herrington & Sutcliffe has picked up an energy and projects team from Hogan Lovells made up of three partners including two group heads.
White & Case has re-elected Hugh Verrier as chairman of the firm for a third consecutive four-year term until 2019.
Darrois Villey Maillot Brochier, Cabinet Bompoint and Gianni Origoni Grippo Cappelli & Partners have taken lead roles as multinational media company Vivendi spends around €1bn to increase its stake in Telecom Italia to 14.9 per cent.
DLA Piper has added a corporate team led by three partners from Australian boutique Hardy Bowen in Perth.
CMS has re-elected chairman Cornelius Brandi for a second four-year to June 2019 after an annual partners meeting last week.
Shearman & Sterling has partnered with Saudi Arabia’s Abdulaziz Alassaf & Partners, meaning the US-founded firm can now operate in Riyadh, Jeddah and Al-Khobar.
International firms have generally positioned themselves well for Asia-Pacific’s rise – teething troubles aside. But it is the locals, particularly in China, who show the biggest appetite for its business, growing faster and wider than the globals.
Freshfields Bruckhaus Deringer is understood to have extended its lockstep ladder in the UK to lure top talent in London.
French wine and spirits company Pernod Ricard is set to launch a contracts compliance app devised by its legal team to cut time spent managing commercial paperwork.
Stephenson Harwood has picked up over £6m in legal fees, after it was involved in the three-year long liquidation of Rangers Football Club.
Thomson Snell & Passmore has seen turnover increase by 11 per cent, from £15.25m to £16.8m in the 2014/15 financial year.
Wedlake Bell has won a £1.8m professional negligence claim against Bird & Bird in a High Court case brought by former client and British Virgin Islands (BVI) company Orientfield Holdings.
Aaron & Partners has posted a 9.1 per cent increase in revenue from £7.26m to £7.92m in 2014/15, following increased work in the renewable energy market.
Howes Percival has appointed former Eversheds partner Paul Wootton as head of its planning division.
Dechert partners have re-elected chairman Andrew Levander for a further four-year term, while CEO Daniel O’Donnell has had a one-year extension as partners voted for Henry Nassau to take on his role in July 2016.
Cravath Swaine & Moore, Linklaters, Simpson Thacher & Bartlett and Sullivan & Cromwell have advised retailers Ahold and Delhaize, as they merge to create a business with net sales of €54.1bn (£38.5bn).
The former head of Akin Gump Strauss Hauer & Feld’s Geneva office, Charles Adams, has been confirmed as the next US Ambassador to Finland.
Litigation firm Your Legal Friend (YLF) has instructed Serle Court’s Philip Marshall QC on its potential group action against Quindell on behalf of shareholders.
Baker Botts announced its highest global revenue ever – $653m – in 2014. Here’s how new London head Mark Rowley plans to ensure the office contributes to another record year in 2015.
One Crown Office Row barrister Adam Wagner has launched a comprehensive study of human rights law in the UK to demonstrate the impact of the Human Rights Act (HRA) on the justice system.
The average value of construction disputes in the UK has fallen by £600,000 but the average global figure has risen to £32m, latest research shows.
Offshore firm Harneys has hired a three-strong funds team from rival Appleby in the Cayman Islands, including former funds head Ian Gobin.
Clifford Chance and Linklaters have acted as lead international counsel on the issuance of Bank of China’s $3.55bn multi-currency bond, which is set to facilitate China’s One Belt One Road (OBOR) initiative.
Private-equity backed firm Knights is set to open a Derby office in August following the doubling of its turnover to a projected £20m in 2014/15.
Kirkland & Ellis’ London office is losing banking partner Philip Crump to Gibson Dunn & Crutcher, just a day after announcing the hire of Weil’s tax head Jonathan Kandel.
Baker & McKenzie has boosted its corporate tax practice with the hire of Ernst and Young (EY) tax head of market Kate Alexander to join the London office as a principal tax advisor in the corporate practice.
Mishcon de Reya has confirmed that its revenue surpassed the £100m revenue mark in the last financial year, with turnover rising 12.5 per cent to £110m.
All the latest partner hires and other appointments within Continental European firms and offices.
Baker & McKenzie has promoted 83 lawyers to partner across the firm, with female associates representing 40 per cent of this year’s round.
Leading commercial silks have accused the Court of Appeal (CoA) of deliberately “over-listing” hearings to ensure appellate judges have enough work, resulting in lengthy delays for hearings and greater costs for clients.
Wealth manager Towry has appointed Ashcourt Rowan’s Rehana Hasan to the role of general counsel, after the company acquired rival Ashcourt last month.
Weil Gotshal & Manges’ London tax head Jonathan Kandel is leaving the firm for Kirkland & Ellis, following in the wake of Weil’s former finance head Stephen Lucas.
State-owned Qatar Petroleum will launch its first formal legal panel, with Simmons & Simmons and Herbert Smith Freehills (HSF) understood to have already submitted tender proposals.
Latham & Watkins Abu Dhabi project finance partner Nick Collins has joined Jones Day’s projects and infrastructure practice in London.
Proskauer Rose has continued its London hiring spree by picking up finance partner Alexander Griffith from DLA Piper.
Slaughter and May and Ashurst have won top roles on the proposed merger of betting companies Ladbrokes and Gala Coral Group.
Freeths has announced its turnover has increased by 12 per cent, from £49.9m to £55.8m for the 2014/15 financial year, prompting a 5 per cent bonus to all staff.
The Supreme Court has rejected a bid to quash the introduction of a new competency assessment for criminal barristers, known as the Quality Assurance Scheme for Advocates (QASA).
Osborne Clarke scooped the top prize at The Lawyer Awards last night after it secured the Law Firm of the Year award.
European management changes at Bird & Bird have opened the door to put non-lawyers in management, Bird & Bird CEO David Kerr has revealed.
Modern Times Group (MTG) general counsel Jonny Searle is leaving the company following a relocation of the legal function to Sweden.
The Berlin office of Swedish firm Magnusson has split off into an independent boutique, just two years after forming.
Eversheds has announced it is launching Agile, its contract lawyer service, in Hong Kong and Singapore.
Commercial firm Thrings has announced a 10 per cent increase in turnover for 2014/15, from £25m to £27.5m.
Weil Gotshal & Manges has revealed that it will keep 100 per cent of its 2015 qualifying trainees in newly-qualified (NQ) positions.
EnergySolutions general counsel Simon Stuttaford has joined DWF’s corporate team as energy partner after four years at the global nuclear waste disposal business.
Europe exchange-traded products provider Source UK Services has appointed Citco Financial Products’ Katy Walton Jones as its general counsel and a member of the management committee.
Clyde & Co is the latest firm to announce positive results with its turnover increasing by 8.5 per cent, from £365.1m to £395m, for the 2014/15 financial year.
Michael Gove will say that the justice system is failing society’s poorest people in his first speech as Lord Chancellor today.
Creativity, novelty and - crucially - hard evidence, were just a few of the ways candidates caught the eye of this year’s The Lawyer Awards’ judges, as revealed at last Tuesday’s inaugural Best in Class event.
Alton Towers owner Merlin Entertainments has begun making interim compensation payments to victims injured in the rollercoaster crash on 2 June under the advice of Kennedys.
Osborne Clarke client electric car manufacturer Tesla has settled out of court with renewables giant Ecotricity, a year after its competition law battle began.
Freshfields Bruckhaus Deringer former corporate head Edward Braham has been elected as the next senior partner of the firm.
Ashurst, Berwin Leighton Paisner (BLP) and Shoosmiths have won top roles on the £112m sale of confectioner Thorntons to a wholly-owned subsidiary of Ferrero International.
Eversheds has announced it is to open an office in Belfast at the same time as adding a managed consultancy service for its clients.
Stewarts Law has posted total revenue of £52.8m, signalling growth of almost 14 per cent on the previous year’s lower than expected results, with the top of equity rising to £1.53m.
Sullivan & Cromwell, along with a host of US, Dutch and Israeli firms, is representing Teva Pharmaceuticals as it seeks to acquire rival Mylan for $43bn, having replaced Kirkland & Ellis as the company’s adviser.
Watson Farley & Williams’ (WFW) has announced that its revenue climbed 7 per cent in 2014/15 from £117m to £125m.
Slaughter and May’s Chris Saul is to retire from the firm when his term as senior partner comes to an end on 30 April 2016.
Nabarro has awarded pay increases to its associates and newly qualified (NQ) lawyers, handing all PQE stages incremental pay rises.
A growing number of in-house lawyers are preparing to make significant changes to their teams this year based on the availability of alternative legal services suppliers, today’s Business Leadership report has found.
Cambridge firm Hewitsons will merge with City firm Moorhead James after both partnerships voted in favour of the tie-up earlier in June.
With more than a year to go until Linklaters’ managing partner and senior partner positions potentially change hands, the names of likely frontrunners for the top jobs are already beginning to surface.
Pinsent Masons’ revenue has grown by 12 per cent, from £323m to £362.2m in the 2014/15 financial year.
Olswang clients the British Academy of Songwriters, Composers and Authors (BASCA), the Musicians’ Union (MU) and UK Music have succeeded in their substantive judicial review against the Government over its recent changes to copyright laws.
Berwin Leighton Paisner (BLP), Stephenson Harwood and Pinsent Masons have all won top roles on railway model maker Hornby’s delisting from the main market and admission to the alternative investment market (Aim).
German-based firms Arnecke Siebold and Sibeth have announced they are to merge and form Arnecke Sibeth on 1 September.
Baker & McKenzie EMEA private equity co-head Bruno Bertrand-Delfau is leaving the firm to join Proskauer Rose in London.
DWF has refocused its business model by launching an integrated service, which combines its consultancy, support centre and contract lawyer service.
This week sees the publication of the third Asia-Pacific 150 report.
With even more budget cuts set to fall on local authority legal teams, innovation and creativity are at a premium if councils want to continue to deliver services. Luckily for the general public, local authority lawyers are stepping up to the challenge with wholesale reinvention – and look set to challenge private practice for key mandates.
Lawyer News Daily
Linklaters has reported a 1 per cent increase in turnover to £1.267bn in 2014/15, at the same time as managing partner Simon Davies confirmed he is stepping down early to join Lloyds Banking Group as chief people, legal and strategy officer