Taylor Wessing’s revenue reached £480.7m (€562m) in the last financial year, as it aims for €1bn globally by 2028. The rise of nearly 10 per cent in sterling is a significant increase on its 2022/23 results in which global turnover crept up by 4 per cent to £439m. Its UK offices contributed over half of […]
The much-vaunted deal between Japanese conglomerate Softbank and British-based AI-chip innovator Graphcore comes at a pivotal time for the tech sector. The deal, understood to be valued at more than $500m, closed last week, shortly after the installation of a new Labour Government and when no definitive answer exists as to what AI regulation might […]
Clients are yet to see AI benefits from law firms, a report from Deloitte Legal has revealed. A new survey undertaken by Deloitte Legal has shone a light on the client sentiment behind the legal AI buzz. It stated that clients have yet to see any significant change or benefit in their law firms’ use […]
Gibson Dunn & Crutcher has hired a new partner from Goodwin to expand its privacy and cybersecurity team in London. Lore Leitner joins as a partner in the privacy, cybersecurity and data innovation practice, moving from Goodwin where she has been a partner for over two years. Her career has seen her gain experience at […]
Bird & Bird and Holman Fenwick Willan are the latest firms to announce pay increases for their newly-qualified solicitors, with the latter rising to £100,000. HFW has increased its pay from £95,000 to £100,000, while Bird & Bird has put in place a slightly lower rise of £3,000 to £98,000. Bird & Bird’s increase comes […]
Linklaters is deploying Copilot for Microsoft 365, The Lawyer can reveal, with a deal value of $1.8m (£1.42m) The latest version of the product will be made available to 6,900 employees. The Lawyer understands the size of the deal is worth $1.8m, which means the cost per employee is nearly $261 (£206). Linklaters has trialled the […]
Virtual reality is coming to a law firm near you
Hogan Lovells is the latest firm to join the pack in the NQ salary race, announcing an increase of almost 6 per cent for its most junior lawyers. The new NQ salary of £135,000 in London takes it above the pay packet offered by Slaughter and May, which recently announced it would not be increasing […]
With revenue of £1.9bn and profit per equity partner sat at £1.8m, it is easy to see why partnership at Linklaters is considered to be a golden ticket. So what is the likelihood of you making partner at Linklaters? On average, it makes 14 partners in the UK each year, with the past two years […]
“Being a partner used to mean spending a lot of time at the golf course, or at the gentlemen’s club. Now, it means a lot more billables than it used to,” muses a partner at a US firm. It’s true: being a partner requires more than it ever used to. Strong client relationships, high billables, […]
The exits we saw last year may have slowed a little since the most recent salary war cooled down, but the wider trend is one that dates back years: workers are less loyal than they used to be. Law firms are finding it increasingly difficult to retain their associates at a time when employers offer […]
Back in 2020, British satellite company OneWeb was having to pull itself out of bankruptcy. Despite big dreams and big ambition, it had failed to break into the market after its biggest investor SoftBank Group Corp pulled out of funding it. The company was saved via a $1bn equity investment lifeline, injected into it by […]