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.
It’s sunny days for trainees at two American firms this week. Latham & Watkins is keeping on 13 of 14 autumn qualifiers, while all five members of Ropes & Gray’s first-ever intake are staying on NQs – a happy ending for some of the Dewey & LeBoeuf trainees who were cast adrift when that firm collapsed last year.
Latham’s trainee intake has doubled in size since 2008, while Ropes & Gray will also seek to ramp up its number, hiring six trainees in 2014 and then eight to 10 within three years.
That’s good news for graduates, but while Ropes can take inspiration from Latham’s success it should also heed the example of its US peer Orrick.
Like Ropes & Gray, Orrick picked up the trainees of a failed firm – Coudert Brothers – and launched its own training scheme at around the same time. Anticipating rapid growth in London, like Ropes, it quickly upped its trainee recruitment numbers to about eight to 10 per year.
Trainees can play a big role in growing small offices, but when recruiting so far in advance there’s a real danger of over-hiring. For Orrick, it was a case of too much, too soon. Ropes will hope for better fortune.