US firm Bryan Cave’s 2004 revenues have dropped slightly on its record 2003 but firm chairman Don Lents has claimed the year was still a success as 2003’s figures included a massive success fee. Gross revenue for 2004 was $374m (£196m) down 2.6 per cent from $384m (£201.2m) in 2003. Profit per equity partner (PEP) […]
Iraq and Kuwait have moved off the battlefield and into the courtroom. Jon Robins reports on fourteen years of legal wranglings, armed raids and ditched lawyers “One of the things they never teach you at law school is how to explain to your 10-year-old son why there’s a man in overalls standing in your bushes […]
German multidisciplinary firm Rödl & Partner has reported a sharp increase in the turnover of its legal services arm. Global turnover generated from legal and tax consulting jumped by 16 per cent to Euro 50m in 2004. Meanwhile, global firmwide turnover increased by three per cent to Euro 151m for the same period. “In the […]
The Law Society Council yesterday (Thursday, 24 February) approved the latest version of the society’s 2005 budget, which proposes a practising certificate fee of £1,017. The budget takes into account increased costs of regulating the solicitors’ profession, caused through implementing changes required by Sir David Clementi’s recent regulatory review. This includes an anticipated increase in […]
Former EY Law global head Patrick Bignon is setting up a legal management consultancy. Bignon is launching Law Management Consulting, which will be based in Paris, in response to a need for independent legal experts in Europe. Bignon said that law firms and in-house legal departments in France are facing new challenges as a result of the Loi sur la Sécurité Financière – the French equivalent of the Sarbanes-Oxley Act – and pressure on costs.
First revealed on www. thelawyer.com 23 February
Linklaters and Slaughter and May are leading on BHP’s mega-offer for rival mining company Anglo American. It emerged this morning that Australian giant BHP had put forward an unsolicited proposal to Anglo American If the deal went ahead, it would be valued at around £31bn. Linklaters is on call for Anglo American as it discusses […]
The ex-general counsel of Haleon has announced that he has joined energy and chemicals business Aramco, which is based in Saudi Arabia. Bjarne Tellman was hired by GSK four years ago to prepare the company for the creation of Haleon, one of the UK’s largest corporate demergers in 20 years. The purpose of the demerger […]
The wait is finally over. In just under a week, the transformational merger between Allen & Overy and Shearman & Sterling will go live. But while the deal is done, the job is only just beginning. On this episode of The Lawyer Podcast, editor Catrin Griffiths and litigation editor Christian Smith look at how the […]
A duo from Travers Smith is leaving for Goodwin Procter, as exits from the UK firm’s corporate team continue. Partners Ian Keefe and George Weavil are joining Goodwin’s private equity team. Their arrivals follow the exit of a team from Goodwin to Fried Frank Harris Shriver & Jacobson, led by partner Christian Iwasko. Both Weavil […]
The Supreme Court has upheld an anti-suit injunction against a Gazprom subsidiary, potentially halting €440m proceedings in Russia. The Gazprom part-owned special purpose entity, RusChemAlliance (RCA), had brought a damages claim against the bank UniCredit in Russia concerning an aborted contract following Russia’s invasion of Ukraine. UniCredit instructed Latham & Watkins in its pursuit of […]
This reports contains: detailed analysis of 12 UK top 100 ‘City independents’ exploration of their growth trajectories and strategies amidst industry consolidation and rising costs analysis of increased specialisation within practice areas City independents firms’ efficiency
This report contains: five-year headcount growth analysis at the French firms in the European 100 an analysis of firms’ partnerships examining how long it takes to make partner at France’s elite firms
Read this report to gain insights into: The evolving role of in-house teams amidst market transformations Current attitudes and increased adoption of artificial intelligence tools Organizations’ continued emphasis on flexible working culture Projections for spend on external legal counsel over the next five years Enhanced feedback on quality of service from private practice law firms […]
This report contains: an overview of the history of UK and US firm in Russia an analysis of the opportunities, challenges and litigation brought on by sanctions regimes a summary of the firms acting in Russian litigation in London
This report contains: an analysis of 15 UK firms’ cash flow management and lock-up trends over the past five years lock-up correlated with profitability to demonstrate the impact of strong financial management for firms’ bottom line details on the adoption of technology by firms to make their financial management more efficient
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There’s no doubt that firms are using non-UK growth to power their global figures. Of the 35 Top 50 firms for which The Lawyer has historical global revenue data, all but four saw higher growth outside the UK in the five years since 2019. Included in this group is Herbert Smith Freehillls (HSF), where London remains […]
Which law firms are private equity houses looking to invest in? The answer, if the conversations we’re having with managing partners are anything to go by, is ‘pretty much all of them’. Most regional firms of note have had speculative approaches at some time in the last five years or so, as private equity gradually […]
Barclays’ legal team was once among the most influential in the UK. That power has diminished over the last decade, yet the banking giant still packs a punch when it comes to talent management. Some 40 lawyers are understood to have left Barclays in the UK last year. There are cost-cutting measures at play here, […]
Keystone Law, the poster child for the platform firm, is likely to break the psychologically important £100m revenue barrier in 2025. The success of this firm has spawned a new market, which is challenging traditional firms on the talent front. More than 3,500 lawyers now work across a variety of fee-sharing outfits, research from Atlas […]
Gibson Dunn & Crutcher, Gowling WLG and Norton Rose Fulbright’s London offices will all be under water in a few decades. This trio shares idyllic views overlooking the Thames, but they will all be submerged in the river by the year 2100 as climate change-induced sea level rises occur. And this is based on the […]
CMS senior partner Penelope Warne has revealed her next steps ahead of her departure from the firm at the end of the month. After 10 years at the helm, Warne is spearheading a project that she founded at the World Bank, via her own company, which promotes the rule of law and access to justice, […]
Slaughter and May is to add another senior lawyer to its pensions team in the City, this time from Freshfields Bruckhaus Deringer. Charles Magoffin, a partner at Freshfields since 2010, is joining Slaughters as a senior counsel from September. Slaughters has still only ever made one lateral hire in the City, also into its pensions […]
Litigation funders will be keeping a close eye on an upcoming review into third-party funding regulation, proposed caps on returns, as well as litigation costs. The Civil Justice Council is looking to produce a full report by the summer of 2025. The review follows an increased focus on litigation funders and their role in disputes, […]
In its largest promotions round ever, Ashurst has elevated eight London lawyers to partner out of 30 worldwide. The firm has made up eight lawyers in London, as well as seven in Sydney. In total, 17 promotions were made in Ashurst’s Australian offices, meaning just five were made outside of either London or Australia. Loans […]
Frustrated Solicitors Qualifying Examination (SQE) candidates are calling on the SRA to increase accessibility to the appeals process after a results error saw 175 candidates mistakenly told they had failed their exams. On Monday last week, the SRA announced that 175 candidates who sat SQE1 in January and were told they had failed on 14 […]
