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  • June 16, 2010 |

    International firms in London: Old game, new rules

    In the second half of 2008, as we all know, the global financial system suffered the largest meltdown in recent memory with unprecedented consequences for some major financial institutions and the global business community. The ensuing economic crisis shook global capitalism to its core. In the legal services community, the crash challenged many preconceived ideas about how international law firms do business around the globe and how they view themselves and their future development.

    1 minute read

  • June 16, 2010 |

    International firms in London: Swoop to conquer

    June 2009, and it was just another not-so-hectic day in the finance department of Addleshaw Goddard's London office - which, after some busy years in the middle of the decade, had slowed dramatically following the onset of the credit crunch in 2007. The firm had recently posted its annual financial results, announcing a fall in revenue of 11.4% and a 30.9% decline in profits per equity partner (PEP), having earlier that year cut 10% of its partnership. Needless to say, acquisition finance partner Phil Slater was on hand to answer his phone when it rang that morning.

    1 minute read

  • May 28, 2010 |

    A&O boosts energy team with Herbert Smith partner duo

    Allen & Overy (A&O) has boosted its corporate energy team in the City with the recruitment of two partners from Herbert Smith. The transfer of the pair - Paul Griffin and John Geraghty - marks a rare partner-level appointment in the London market for A&O.

    1 minute read

  • May 28, 2010 |

    Mayer Brown adds partner to City base with A&O finance hire

    Mayer Brown has added a partner to its London finance practice with the hire of Allen & Overy (A&O) finance specialist Chris Arnold. Arnold is set to join Mayer Brown's derivatives and structured products practice as a partner on 1 June after eight years in A&O's international capital markets practice in both London and New York.

    1 minute read

  • May 26, 2010 |

    Mayer Brown seals hire of Hogan Lovells partner in New York

    Mayer Brown has recruited Hogan Lovells partner David Alberts in New York, marking the office's fifth lateral hire so far this year. Alberts, a legacy Lovells partner in the UK firm's insurance and reinsurance practice, left after the recent Hogan & Hartson tie-up on 21 May to join Mayer Brown's corporate & securities practice and insurance industry group.

    1 minute read

  • May 19, 2010 |

    Citigroup names 'golden nine' line-up of UK firms in two-tier EMEA panel

    Citigroup has overhauled its external legal arrangements, creating two new panels of preferred law firms. The banking giant has unveiled new panels of advisers in the Europe, Middle East and Asia (EMEA) region and the US, formalising its previous roster of law firms.

    1 minute read

  • May 19, 2010 |

    Wall Street's legal elite stage recovery but fees fall at US top 100

    Wall Street's leading law firms have defied gloomy predictions to stage a notable comeback in 2009, emerging as the top performers among the US's 100 largest law firms. Financial results for 2009 from Legal Week's US sister title The American Lawyer show that the 13 New York firms with profits per equity partner (PEP) of more than $2m (£1.3m) overcame the toughest trading conditions for a generation to raise partner profitability by 3%.

    1 minute read

  • May 10, 2010 |

    Salans seals hire of Halliwells corporate recovery chief

    Salans has bolstered its restructuring team in the City with the hire of Halliwells corporate recovery head David Grant. Grant joined Salans' London office last month as a partner in the reorganisation, restructuring and insolvency (RRI) group after his January departure from Halliwells' London office, which left the national firm without a single equity partner in the City.

    1 minute read

  • April 12, 2010 |

    Departure of Stevens leaves big shoes to fill at US Supreme Court

    US Supreme Court Justice John Paul Stevens, a one-time centrist maverick who became a powerful leader of the Court's liberal wing, announced his retirement on Friday (9 May), just 11 days short of his 90th birthday. When Stevens departs at the end of the current term in late June or early July, he will have been one of the oldest and longest-serving justices in US history, appointed by President Gerald Ford in 1975, and the last justice with World War II service.

    1 minute read

  • April 9, 2010 |

    Mayer Brown cuts 75 US jobs in new round of layoffs

    Mayer Brown has laid off 28 associates and counsel and 47 members of staff from its US offices, reports The Am Law Daily. This is the firm's third round of job cuts in around 18 months. The firm let go of 33 associates and counsel in November 2008 and laid off 45 more lawyers last April. The announcement was contained in an internal memo, which states: "Although most of our practices are performing well, overall demand for legal services has not recovered fully, and in today's tight legal job market, voluntary lawyer departures have been significantly lower than our normal levels.

    1 minute read