An interesting paper put out recently by Laura Empson, professor at Cass Business School is doing the rounds. It focuses on the ambiguities of law firm leadership. The study, titled Who’s in Charge? Exploring Leadership Dynamics in Professional Service Firms, parses the various structures of formal and informal power at several top (anonymised) private practice […]
Norton Rose Fulbright’s partners have expressed “frustration” after the firm’s profits and profit per equity partner (PEP) figures remained static last year despite a significant international expansion plan, The Lawyer understands.
South-West firm Thrings has kicked off a redundancy consultation for around 20 roles and deferred the rent payment of two of its offices, part of an extensive set of measures implemented by the firm. The Bristol-headquartered outfit has taken the decision as it faces a fall across its financial metrics. Revenue in 2019/20 dropped 8 […]
Bird & Bird has seen its average profit per equity partner (PEP) drop in the financial year 2019/20. The UK firm’s PEP went down by 3 per cent from from £575,000 to £555,000, a metric that the firm had not previously reported as part of its financial results for 2019/20. It marked a fall for the […]
PwC Legal is looking to expand its lawyer headcount in regional offices as part of a project for the new financial year. The legal arm of the accountancy firm is eyeing growth for its professionals especially in its bases in Manchester and Birmingham, but expansion will equally be pursued in Leeds and Belfast. The project, […]
Mishcon de Reya has lost a member of its disputes team to Stephenson Harwood, in what is the City firm’s second departure this week. The departure of financial disputes partner Genevieve Quierin follows on from that of Ben Giaretta, who this week joined Fox Williams. Quierin has spent more than three years at Mishcon, where […]
Linklaters and Eversheds Sutherland have won the key advisory mandates on Next’s deal to resurrect Victoria’s Secret UK. Under the newly-formed joint venture Next will acquire a 51 per cent in the lingerie brand, ensuring that it will continue to have a high street presence. Eversheds has taken the lead for Next, led by co-chair […]
Cleary Gottlieb Steen & Hamilton is reviewing its remuneration structure, The Lawyer understands. The US firm is looking to ditch its lockstep structure in favour of one that will allow it to provide higher compensation to star partners in a bid to boost retention. The model, if adopted, could take the form of a modified […]