23 May 2005

Legal & General fine halved after FSA battle

The Financial Services Authority and Markets Tribunal has slashed the £1.1m penalty imposed on Legal & General (L&G) by the Financial Services Authority (FSA). The Tribunal yesterday, 26 May 2005, reduced the fine imposed on L&G to £575,000 by the FSA in the high-profile case involving the mis-selling of mortgage endowments. However, the Tribunal made […]

Dundas & Wilson head quits for RBS

Dundas & Wilson managing partner Chris Campbell has quit the Scottish firm to join the Royal Bank of Scotland (RBS). Campbell, who has led Dundas & Wilson since 1996, will be joining RBS as director of group legal services on 1 August. He will be replacing Mark Chidley, who left the bank in February (first […]

Official candidate unveiled for Shearman top job

New York capital markets rainmaker Rohan Weerasinghe has emerged as the official candidate for Shearman & Sterling’s forthcoming senior partner elections. At the same time, the firm is poised for a radical shake-up of its management structure with London managing partner Kenneth MacRitchie earning a place on the executive group for the first time. The […]

Wachtell loses corporate partner to Latham

Latham has recruited Barry Bryer, a partner in Wachtell’s corporate department since 1980, for its New York office. Latham & Watkins has made an almost unheard of lateral hire from New York mergers and acquisitions (M&A) powerhouse Wachtell Lipton Rosen & Katz. Latham has recruited Barry Bryer, a partner in Wachtell’s corporate department since 1980, […]

Pinsent Masons Bristol property team defects en masse to Clarke Willmott

Pinsent Masons has lost its entire Brisol-based real estate practice to South West firm Clarke Willmott. The six-lawyer team consists of partners Bonnie Martin, Beverley Pike and Nicola Seager alongside two senior associates and an assistant lawyer. Pike was the head of Pinsent Masons’ Bristol commercial property group. Martin specialises in contentious property and development […]

Coudert threatens to sue Orrick over London raid

Coudert Brothers has called in one of New York’s fiercest litigators to advise it on the departure of the 12 London and Moscow partners who quit for Orrick Herrington & Sutcliffe last week. The departures followed the collapse in merger talks between the two firms. Coudert is concerned that confidential information may have been misused. […]

Nauta Dutilh loses London partner to Van Doorne

Dutch firm Van Doorne has raided the London office of rival Nauta Dutilh, hiring well-known banking and securites partner Dirk Blaisse.Blaisse, who began his career with the Dutch heavyweight in 1989, joins on 1 July and will become managing partner of Van Doorne’s London office. He has been a partner with Nauta since 1998 and […]

Clifford Chance revenues down but profits soar

Clifford Chance’s revenues have slumped for the third year in a row, with gross fees down to £915m.However, the magic circle firm has posted a profit rise of almost 15 per cent for the last financial year, suggesting that its war on costs has paid dividends. The firm’s provisional results show average profit per equity […]

Speechly Bircham posts record profits hike

Speechly Bircham has become the latest firm to post record profits based primarily on a stellar performance by its property team.Average profit per equity partner (PEP) smashed through the £300,000 barrier, rising 40 per cent from £265,000 to £365,000, the firm’s best-ever performance. Turnover rose more modestly, up 16 per cent to £29m.Revenues from the […]

Coudert NY flies in rescue team as entire UK partnership quits

Orrick lands eleven partners in massive cross-border London and Moscow raids; Coudert defectors slam low global profits Coudert Brothers is desperately trying to recruit partners from around the world to cover London after its entire partnership jumped ship for Orrick Herrington & Sutcliffe. Orrick has taken Coudert’s eight London partners and the three remaining partners […]

B&M in shock four-partner raid on Norton Rose

Norton Rose‘s securitisation group has resigned for Baker & McKenzie (B&M), leaving the top 10 firm with no capital markets capability at partner level in London. As first revealed on www. thelawyer.com on Friday, the four-partner team comprises Jonathan Walsh, Vincent Keaveny, Bruce Somer and Ian Porter. It is understood their billings accounted for some […]

Revealed: Glazer debt structure is for ‘a lifetime’

Sources close to Malcolm Glazer have moved to play down the burden imposed on Manchester United by the controversial payment in kind (Piks) notes used by the Floridian businessman to finance his bid for the club. The Lawyer can exclusively reveal that the Piks being used by Glazer have a 15-year term, which one source […]

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