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  • April 8, 2011 |

    Davis Polk votes in Scot as firm's first-ever non-US managing partner

    Davis Polk & Wardwell has announced that corporate head Thomas Reid has been elected managing partner of the US firm, reports The Am Law Daily. Reid, who was born in Kircaldy in Scotland, is the first managing partner in Davis Polk's history born outside the US. He attended the University of Edinburgh School of Law and Columbia Law School.

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  • March 23, 2011 |

    Paying the piper - can law firms' love affair with banks survive a series of tough panel reviews?

    Can City law firms' love affair with leading banks survive a bruising round of adviser reviews? Sofia Lind and Friederike Heine report

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  • March 15, 2011 |

    Partner profits at top New York firms spike on Wall Street rebound

    Partner profits at elite New York firms saw a strong recovery in 2010 after a surge in M&A and capital markets work, reports The Am Law Daily. Six Wall Street firms in the $2m-plus partner profits (PEP) club saw profitability soar last year, including Paul Weiss Rifkind Wharton & Garrison, which saw PEP rise 15% to $3.05m (£1.9m).

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  • March 10, 2011 |

    CC follows Freshfields and Links with spring bonuses for US associates

    Clifford Chance (CC) is set to pay out a new spring bonus to its US associates, following the trend seen in the US legal market in recent months. The magic circle firm informed its New York and Washington DC associates today (10 March) that they will receive a bonus ranging from $2,500 (£1,600) to $20,000 (£12,400), depending on post-qualification experience. The scale starts at $2,500 for associates who qualified in 2010, with the top figure of $20,000 awarded to associates who qualified in 2006 or earlier.

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  • March 1, 2011 |

    US invaders back on the offensive

    The number of partner promotions in the City offices of US law firms is on track to exceed last year's tally, with 33 new partners made up in London in 2011 so far out of a global promotions total of 382. Legal Week's annual survey of US firms' lateral partner hiring and internal appointments found there have been only five fewer partner promotions in London so far this year than in the whole of 2010.

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  • February 18, 2011 |

    Davis Polk plans Sao Paulo launch as law firms continue to flock to Brazil

    Davis Polk & Wardwell has announced plans to establish a Brazil office later this year, reports The Am Law Daily. The office, the US firm's 10th around the world, could open as early as the middle of the year, though the date is subject to approval by Brazilian authorities. The announcement comes three months after Cleary Gottlieb Steen & Hamilton announced its intention to open in Sao Paulo.

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  • February 16, 2011 |

    Deutsche and JP Morgan push firms on costs and outsourcing

    Deutsche Bank is putting pressure on its legal advisers to increase their use of legal process outsourcing (LPO) as the bank nears the final stages of the first formal review of its external law firm relationships. Deutsche has told law firms that above all else they must be "innovative" about how they provide a cost-efficient service to the bank - in particular, the bank wants to see firms using LPOs wherever possible.

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  • February 15, 2011 |

    Freshfields announces first-ever spring bonuses for US associates

    Freshfields Bruckhaus Deringer has announced that it will hand out spring bonuses to its US associates for the first time, reports The Am Law Daily. US regional managing partner Julian Pritchard announced the news in a letter to the firm's 160 US associates, with the bonuses ranging from $2,500 (£1,500) for the class of 2010 to $20,000 (£12,400) for the class of 2006 and earlier.

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  • February 9, 2011 |

    Davis Polk managing partner announces intention to step down from top role

    Davis Polk & Wardwell managing partner John Ettinger, who has led the US firm for the past 12 years, has announced that he will step down as managing partner by the end of March, reports The Am Law Daily. Ettinger, 59, an M&A and securities lawyer who joined the firm in 1979, told his partners of his decision at last week's partnership meeting. He also will relinquish his position on the firm's three-member management committee, which also includes litigation partner Carey Dunne and corporate head Thomas Reid.

    1 minute read

  • January 26, 2011 |

    Linklaters, A&O top volume charts for EMEA debt and equity capital markets

    Linklaters and Allen & Overy (A&O) have topped Thomson Reuters' EMEA equity and debt capital markets rankings for the full 2010 calendar year. Linklaters has held its spot at the top of the equity capital markets (ECM) rankings by manager, advising underwriters on 57 deals worth a total of $39.2bn (£24.8bn). The tally equates to four more deals than in 2009 – although the value is down from last year's figure of $53.3bn (£33.7bn) – putting it significantly ahead of its nearest rival by volume, Davis Polk & Wardwell, which advised on just 14 deals.

    1 minute read