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The Lawyer’s Hot 100: The most interesting thing about managing a law firm
Find out more about this year’s Hot 100 here.
Exclusive: RBS pressure sees 2Birds take over PAG case from CYK
Cooke Young & Keidan is no longer acting on the headline Libor case Property Alliance Group (PAG) v The Royal Bank of Scotland (RBS), following an application by the bank to remove the firm over issues of conflict. In a decision by the claimant, Cooke Young & Keidan has been taken off the case, which is due […]
Reed Smith private equity head Yam leaves for Mayer Brown
Mayer Brown has hired Reed Smith’s private equity head Perry Yam to lead its practice in London.
Cooley reveals double-digit revenue growth for second consecutive year
Cooley saw its global revenues rise nearly 14 per cent over 2015 in its second consecutive year of double-digit growth. Global turnover rose from $802m to $912m, while revenue increased over 2014 by 19 per cent from $674m. Average profit per equity partner also jumped, albeit by a slightly smaller percentage of 9 per cent, […]
Skadden pulls out of Australia
Skadden Arps Slate Meagher & Flom is closing its Sydney office, exiting the Australian market after 29 years. The firm has confirmed that it is in the process of closing its Sydney office, likely by the middle of the year. The office currently has two corporate partners and three other lawyers. It is understood that only […]
Claims against banks in freefall, data shows
The number of cases brought against banks in London dropped off a cliff last year, data from court records has revealed. Barclays was hit with 45 per cent fewer claims in 2015 than in 2014, for example, while the Royal Bank of Scotland (RBS) faced 36 per cent fewer lawsuits over the same period. The […]
Shearman-associated Saudi lawyer fined for market manipulation
A lawyer working within Shearman & Sterling’s associated office in Saudi Arabia has been fined £103,000 by the Capital Market Authority for market manipulation. Abdulaziz Alassaf, a named partner at Abdulaziz Alassaf & Partners, was fined 560,000 riyals (£103,000) for manipulating the market after he and seven of his brothers sold a substantial amount of […]
Spain’s Gómez-Acebo posts 2 per cent revenue boost after four years of decline
Spanish firm Gómez-Acebo & Pombo has posted a 2.03 per cent rise in revenue to €60.2m in 2015 following four successive years of decline. The firm posted a fourth year of decline in 2014 with a 2.8 per cent drop in revenue from €60.7m to €59m. Turnover fell from €61.9m in 2012 to €60.7m in […]
Lower for longer but not forever
For those who follow the oil and gas industry, it’s been a pretty tough time. With the oil price dipping as low as $27 a barrel in January and much uncertainty around the future, it’s hardly surprising that many significant players have been cutting back on capital expenditure and announcing steep declines in profit. Despite […]
WFW LLP accounts reveal pick up in US and Asia revenue
Watson Farley & Williams’ (WFW) revenue derived from English law work in Hong Kong more than doubled over 2014/15 from £473,000 to over £1m, according to the firm’s LLP accounts. The results contributed to a 5.4 per cent increase in revenue from the region, with Asia turnover rising £21.5m to £22.7m between 2014/15 and 2013/14. […]
High Court denies taxi drivers’ JR over London cycle route
An attempt by the Licensed Taxi Drivers Association (LTDA) to bring a judicial review of the construction of the East-West Cycle Superhighway (EWCS) in London has been denied by the High Court. The taxi drivers’ group launched the application against the £47m cycle track last month, claiming Transport for London (TfL) began construction without proper […]
Quinn profit margin hits 73% as firm posts record financials for London
Quinn Emanuel Urquhart & Sullivan has reported record financial results for its London office, with UK revenue rising by 40 per cent from £26.2m to £36.8m and its City profit margin hitting 73.5 per cent. The significant increase in revenue for the 2015 financial year follows a 33 per cent bounce back in London office […]