Global news

Dentons

Dentons’ European arm reinstates monthly drawings

The European arm of Dentons is to restore full monthly drawings for its partnership, representing the last of the firm’s resilience measures adopted at the start of the pandemic. Drawings will be reinstated as of August having been reduced by 20 per cent for over a year. While similar cuts to business support teams’ salaries […]

Shearman to roll out three-day global attendance policy

Lawyers and staff at Shearman & Sterling will be asked to attend the office three days a week, as part of a new global approach to its reopening. From September, the firm will expect to see everyone in the office every Tuesday, Wednesday and Thursday. It is understood that the firm’s global committee wanted to […]

Munich Germany

Goodwin gears up for Munich office launch

Goodwin has taken space in Munich after a spate of hires, The Lawyer has learned, in an expansion initiative led by one of its recent recruits. It is understood that the firm has signed a lease for temporary space in the Ludwigpalais building in Ludwigstrasse, in the business hotspot of the Bavarian capital. Private equity […]

Financials 2020/21: Ashurst regains momentum as PEP exceeds £1m

Ashurst has finally got its average profit per equity partner (PEP) above £1m, a figure it was on course to hit over 2019/20 were it not for the pandemic. PEP increased from £903,000 to just under £1.04m, representing growth of 15 per cent. It had fallen by seven per cent in the previous financial year […]

Dentons

Dentons’ revenue nudges up one per cent

Dentons’ turnover across its UK, Ireland and Middle East offices crept up by £2.1m over the financial year 2020/21. The small increase saw the firm’s revenue grow from £221.1m to £223.2m. While turnover was up slightly this year, it had however fallen by 4 per cent over 2019/20. This means it has still not managed […]

Allen Overy

A&O kicks off magic circle reporting season with PEP hike

Allen & Overy’s average profit per equity partner (PEP) has surged by 17 per cent to hit £1.9m for the first time. PEP increased from £1.63m, having dipped by nearly two per cent over 2019/20. For the last three years, A&O’s PEP has hovered around the £1.6m mark.  In line with this, profit before tax […]

Luxembourg

K&L Gates is the latest firm to launch in Luxembourg

K&L Gates has merged with Luxembourg boutique Volckrick & Associates, adding the country as its eighth location in Europe. Through the combination, a three-lawyer team of Volckrick & Associates has joined K&L Gates. Led by partner Mathieu Volckrick, the team focuses strongly on asset management, investment funds, real estate and private equity. Prior to setting […]

Stephenson Harwood’s HK spin-off launches City office

Hong Kong firm MB Kemp, which was set up by a team that left Stephenson Harwood’s regional base last year, has expanded internationally with three new offices. MB Kemp’s new London operations will be spearheaded by partner Marco Pocci, who left Stephenson Harwood’s Hong Kong office after a brief stint of less than two years. […]

Hong Kong

Former DLA Piper China chair joins PRC firm

Former DLA Piper China chair and capital markets veteran Liu Wei has joined PRC firm Jingtian & Gongcheng’s Hong Kong office with three other senior lawyers. Liu Wei’s move to Beijing-headquartered Jingtian & Gongcheng comes after a 15-year tenure at DLA Piper. He was instrumental in building up the firm’s Greater China business, especially in […]

Miguel Zaldivar

Hogan Lovells CEO adds Paris to global growth strategy

Hogan Lovells CEO Miguel Zaldivar has included Paris in the priority list of his international growth strategy, following a historic financial contribution from the office. Paris now sits alongside London, Germany and Washington DC as one of the firm’s core offices, with the “engines” accounting for 65 per cent of revenue. Speaking to The Lawyer, […]

Baker McKenzie

Eight City lawyers get the nod in Bakers’ latest promos

Baker McKenzie has promoted 67 lawyers to partner, with eight elevated in its London office. It marks a smaller pool of promotions as opposed to last year’s 85-strong global cohort. In 2019, the firm made up 81, including seven in London, while in 2018’s scaled-back round, just 68 lawyers were made up with six making the […]

Former White & Case Asia PE head resurfaces at Norton Rose Fulbright

Norton Rose Fulbright’s Hong Kong office has added two partners, including former White & Case private equity partner Peggy Wang who left the US firm nearly two years ago. Peggy Wang will join Norton Rose Fulbright along with new partner Victor Sim, who was previously a counsel in White & Case’s debt finance and restructuring […]