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  • July 4, 2013 |

    Near-shoring and LPO takes hold as more top 30 firms eye moves

    Fifteen of the UK's top 30 law firms by revenue have either set up their own low-cost legal centre or are sending routine legal work to legal process outsourcing (LPO) providers, according to research conducted by Legal Week. Several other leading firms are reviewing their options, including Stephenson Harwood, which is considering opening a low-cost legal centre, and SJ Berwin, which is in early stage talks to outsource its document production team.

    1 minute read

  • July 4, 2013 |

    Former Eversheds Edinburgh head joins Shepherd & Wedderburn

    Shepherd and Wedderburn has strengthened its finance and restructuring team with the hire of Eversheds' former Edinburgh chief Colin McKay. Banking and finance partner McKay, who is joining Shepherds on 15 July, will split his time between the Scots firm's Edinburgh and London offices.

    1 minute read

  • June 27, 2013 |

    White & Case gets licence to launch in Dubai

    White & Case is set to become the latest firm to open in Dubai after obtaining a licence to practise in the emirate. It is understood that the US firm will relocate a team of lawyers to run the new outpost, which will function as an offshoot of its operation in Abu Dhabi. The firm is still determining how the operation will be staffed, with an announcement due after the Eid holidays in early August. According to regulatory requirements, at least five lawyers are required to staff the base.

    1 minute read

  • June 25, 2013 |

    Pinsents signs up top-ranked banking partner in Birmingham

    Pinsent Masons has strengthened its financial services team with the hire of top-rated SGH Martineau partner David Doogan as head of the firm's Birmingham banking team. Doogan, who is top ranked by Chambers and Partners for banking and finance work in Birmingham, headed up the banking team at SGH Martineau, which was formed by the merger of Birmingham firm and London's Sprecher Grier Halberstam in 2011.

    1 minute read

  • June 20, 2013 |

    Diageo advisers on alert as new general counsel takes reins

    Diageo has appointed Siobhan Moriarty as its new general counsel, replacing current global legal chief Tim Proctor, who is retiring after 13 years in the role. Moriarty (pictured), who was previously European GC at the drinks giant, will formally step into the top legal role on 1 July, following a transition period that began in January. One of the largest corporates in the FTSE 100, Diageo counts Smirnoff, Jose Cuervo and Guinness among its brands.

    1 minute read

  • June 19, 2013 |

    Freshfields leads on £1bn Chinese buyout of UK yacht maker and hotel

    Freshfields Bruckhaus Deringer, White & Case and Addleshaw Goddard have advised on Chinese conglomerate Dalian Wanda Group's acquisitions of UK luxury yacht company Sunseeker International and a hotel development site in London for a combined value of £1bn. The deals are among the largest UK acquisitions by Chinese private enterprises, and Dalian Wanda's first major investments in the country.

    1 minute read

  • June 17, 2013 |

    Budget gym chain acquisition hands roles to law firm trio

    Hogan Lovells and Eversheds are among the firms that have landed key roles on an acquisition that has seen buyout house Phoenix Equity partners buy a majority stake in a low-cost gym operator. Phoenix, which also owns stakes in restaurant chain Busaba Eatthai and fashion retailer Radley, bought the stake in The Gym group from Bridges Ventures, for a reported value of £90m. Bridges has retained a 25% stake in the company.

    1 minute read

  • June 13, 2013 |

    Pure lockstep out of favour as economic woes prompt partner pay shake-up

    Half of the UK's leading law firms have either changed their partner remuneration structure since the onset of the credit crunch or are currently reviewing it, according to Legal Week's latest Big Question survey, which highlights the increasing acceptance of merit-linked pay for partners. Forty percent of partners responding to the survey said their firm had changed its remuneration model for partners since the onset of the financial crisis, with a further 11% in the process of looking at it and an additional 1% saying they had plans to review it. About 41% had made no changes, while 6% said they had reviewed their partner reward system but decided against an overhaul. The findings show that only 10% of respondents work in firms with pure lockstep structures, compared with 27% in firms with pure merit systems and 23% in firms keeping aside part of their profits for rewarding top earners. The largest group – 40% – said their firms operate modified locksteps allowing partners to be moved up or down or held based on their individual performance.

    1 minute read

  • June 13, 2013 |

    Nabarro turnover climbs 2.6% as PEP looks set to leap 30%

    Nabarro has seen turnover for the 2012-13 financial year climb by 2.6%, with the increase coming against a predicted 30% rise in profits per equity partner (PEP). The top 30 UK firm has announced an unaudited revenue figure of £116.3m compared with £113.4m the previous year. PEP has not been formally calculated but is expected to climb to £430,000, which would represent a jump of roughly 30% compared with last year's audited PEP figure of £332,000.

    1 minute read

  • June 13, 2013 |

    Macfarlanes boosts real estate with Shearman partner hire

    Macfarlanes has strengthened its commercial real estate practice with the hire of Shearman & Sterling partner Clare Breeze. Breeze, who is due to join at the firm in the beginning of July, has been a partner at Shearman since 2009, and has acted for a range of developer and investor clients including Stanhope, AIG and Argent Estates.

    1 minute read