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  • July 14, 2010 |

    CC increases retention rates to 79% for September qualifying intake

    Clifford Chance (CC) has improved its trainee retention rates with 79% of September qualifiers due to remain with the magic circle firm. The offer rate at the firm stood at 82%, as CC offered 60 jobs to 73 qualifiers, from which 58 have accepted a role with the firm. The numbers mark an improvement of almost 10% on the rates at the City giant in March this year and in September 2009, when the retention rate stood at 70% on both occasions.

    1 minute read

  • July 14, 2010 |

    Nationals firms post varied results for 2009-10 as 'big five' remain static

    National and regional firms have produced the most movement in the top 50 this year, with a number of practices seeing sizable fluctuations in revenue and profits. The big five national firms - DLA Piper, Eversheds, Pinsent Masons, Addleshaw Goddard and Hammonds - remained static on their 2008-09 positions in the rankings after experiencing slight declines in turnover.

    1 minute read

  • July 14, 2010 |

    Asia takes centre stage as firms boost revenue in Eastern markets

    UK firms' footholds in Asia have proven their worth in this year's financial results with revenues from the region remaining consistently strong in their contribution to overall turnover. Clifford Chance (CC) in particular saw a notable contribution from its Asia arm, with revenues growing 21% on last year to £126m, up from £104m. The practice now makes up 10% of the firm's overall turnover, up from 8% in 2008-09.

    1 minute read

  • July 14, 2010 |

    Insurance firms outpace rest of top 50 once more as revenues climb 8%

    Insurance firms have bucked the trend of the top 50 as a whole once again this year, with revenues growing by an average of 7.8% and profits per equity partner (PEP) climbing 2.7%. The group was the strongest performing among the ranked firms, being the only category aside from the mid-tier firms to experience turnover growth and far outpacing the all-firm average. Of the five insurance firms in the top 50, four saw a climb in rank in 2009-10.

    1 minute read

  • July 14, 2010 |

    More with less - 2009-10 proves to be a year of ups and downs

    Challenging? Interesting, perhaps? Pick your recessionary euphemism. Actually, topsy-turvy seems to more accurately reflect the year of highs, lows and contradictions that 2009-10 proved to be. The UK top 50 hit its first absolute contraction in fee income since Legal Week began tracking its results, with total fees falling 4% from £12.3bn to £11.9bn after last year's exchange rate-assisted growth. Yet the group as a whole, having cut hundreds of millions of pounds from its cost base while trimming equity partner ranks, managed a considerable rebound in partner profits.

    1 minute read

  • July 7, 2010 |

    Bird & Bird announces double-digit increase in revenues for 2009-10

    Bird & Bird has become the latest firm to announce its 2009-10 financial results, reporting a double-digit increase in turnover and a small dip in profits per equity partner (PEP). The firm saw turnover increase by 10% to £202m, up from the 2008-09 figure of £184m, while PEP fell by 3% from £481,000 to £466,000, with net profit standing at £37.7m. Bird & Bird chief executive David Kerr (pictured) commented: "While economic conditions are still challenging, the firm continues to perform well and I am optimistic for the future."

    1 minute read

  • June 29, 2010 |

    UK top 30 trainee retention stable as results reveal rates above 90%

    Initial indications show trainee retention rates at the UK's leading law firms are largely stable as a number of firms announce the proportion of September qualifiers to be offered places. Top performers include Slaughter and May, which has posted a 93% retention rate, with the firm set to keep 57 of a total 61 qualifiers after 60 applied for a position.

    1 minute read

  • June 22, 2010 |

    LW associate report 2010: DLA Piper, CC and Eversheds score revival in employee morale

    DLA Piper, Clifford Chance (CC) and Eversheds are among the firms staging a revival in a flagship Legal Week project that grades law firms on the satisfaction of their lawyers. The upcoming 2010 Employee Satisfaction Report (ESR) from Legal Week Intelligence shows the trio staging a substantial rebound on their scores from the previous year (see table).

    1 minute read

  • June 22, 2010 |

    Regulation difficulties force Bird & Bird to drop LDP plans

    Bird & Bird has decided not to pursue plans to convert to a legal disciplinary practice (LDP) after difficulties with local regulations in some countries where it practises. The UK top 15 law firm was in discussions at the end of last year to add a number of additional lawyers to its partnership, but has opted against altering its structure after coming up against difficulties with Bar rules in other jurisdictions where it operates.

    1 minute read

  • June 22, 2010 |

    Firms ramp up junior recruitment in fast-recovering Sweden market

    A number of international firms are ramping up associate recruitment in Sweden in response to a recent surge of activity in the local market. Linklaters, Ashurst, Bird & Bird and White & Case are all expanding their junior ranks in the country, with Linklaters holding a recruitment round in addition to its usual intakes during spring and autumn.

    1 minute read