A global profitability drive by Freshfields Bruckhaus Deringer is putting its smaller practice groups such as IP and employment “at risk” and leading to larger numbers of equity partners relegated to the “second tier” of its lockstep, according to insiders. Managing partner David Aitman created a second tier lockstep ladder running from 10 to 30 […]
The ABS set up by Direct Line and now-defunct Parabis, DLG Legal Services, is continuing operations after the insurer paid Parabis £1 for its nominal share of the business and took on 150 ex-Parabis lawyers. As part of the agreement reached between the two parties DLG received a net payment of £3.9m from Parabis LLP, […]
Engineering business Weir Group has drastically reduced the number of firms on its roster of advisers, launching its first formal panels at the start of this year.
Media and technology firm Wiggin has boosted its gaming and betting practice through the appointment of Stephen Ketteley and David McLeish as partners within the firm.
Clifford Chance’s slimmed-down management committee saw an average 7 per cent decrease in share of profits in the last financial year as global turnover dropped by 0.7 per cent to £1.35m, according to recent LLP filings. The executive group was reduced to 12 members in 2014, down from 16 members the year before, following an […]
A focus on costs and lock-up management helped Simmons & Simmons to soaring profits and a reduction in borrowing costs for the last financial year, the firm’s LLP accounts have shown. In the introduction to the accounts, filed with Companies House this week, the firm said it had continued to “maintain tight controls on costs, […]
Clifford Chance has won the lead advisory role for Sainsbury’s in its potential offer for Home Retail Group, while the latter sought counsel from the supermarket’s long-standing lawyers Linklaters. Linklaters is the main legal adviser for both Sainsbury’s and Home Retail, with partner Iain Fenn serving as the magic circle’s firm relationship partner for Sainsbury’s. […]
DLA Piper’s non-US operations saw a 3 per cent drop in revenue last year, the firm’s audited International LLP accounts have shown. The accounts reported a drop in turnover from £787.6m in 2013/14 to £765.7m last year. Profitability also dipped by 2.2 per cent, from £276.9m to £270.7m. However the amount of profit due to […]
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Baker & McKenzie has continued the expansion of its London disputes practice with the hire of Hogan Lovells commercial and financial litigation veteran Hugh Lyons.
Freshfields Bruckhaus Deringer and Slaughter and May have pocketed a vast proportion of the $59.2m (£40.25m) legal fees incurred by both Royal Dutch Shell and BG Group during their merger. Royal Dutch Shell announced its takeover of rival gas company BG Group last April, in which BG shareholders will be entitled to receive 383p in […]
Hogan Lovells has matched last year’s partner promotions round, making up 24 lawyers worldwide including five in London. The majority of City promotions come from the firm’s corporate practice, reflecting the overall trend worldwide. Litigation was the second most popular practice area to benefit from partner promotions in both London and globally. In London, corporate finance […]