What a day. First, Clifford Chance is back in the game after revealing its 2010-11 financial results.
Global revenue has nudged up 2 per cent to £1,219m and average profit per equity partner has pushed past the £1m milestone for the first time in three years (see story).
It’s not gone far over the million mark, mind, at £1.005. But still, it’s a watershed figure. No wonder the partnership conference was so upbeat (see story).
Nonetheless, the rise clearly wasn’t enough to impress Stephen Fox and David Irvine, the latest CC funds lawyers to hop on the band wagon that leads straight to Weil Gotshal & Manges’ City office (see story). As associates the pair wouldn’t share in the Clifford Chance spoils (well - Mr Fox was tipped for an early partnership but would have had a couple of years stuck in the junior division see story).
Still, rumours abound of promises made by Weil with regards to a fast-track to partnership, so maybe they’ll have their own millions sooner rather than later. You’d expect a funds lawyer to play the long game when it comes to their finances.
And, of course, a paltry £1.005m is probably what England and Manchester United footballer Rio Ferdinand spends on shiny wheels for his car. But he’s got bigger problems right now, which is why he’s instructing omnipresent barrister Hugh Tomlinson QC in a privacy action against the Mirror Group (see story).
But even Rio’s problems pale in comparison to what’s going on at News International. Trebles all round at Olswang, as the firm gets the call on hackgate. And an early bath for Farrer & Co, News International’s go-to firm for years but who got snubbed for the job (see story). That’s gratitude for you