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  • March 26, 2013 |

    Addleshaws makes up eight to partnership across UK offices

    Addleshaw Goddard has made up eight partners in its latest round of partner promotions, an increase on last year's round of six. Half of the promoted lawyers are based in the firm's London office with Louisa Caswell (litigation), Jon Cheney (professional practices), Alex Dumphy and Steve Mackie (both banking) all set to join the firm partnership as of 1 May.

    1 minute read

  • March 25, 2013 |

    Withers and Speechly Bircham confirm preliminary merger talks

    Withers and Speechly Bircham have confirmed that they are in early stage talks over a possible combination that could create a top 25 firm with revenues of around £170m. The firms issued a joint statement today confirming preliminary discussions are taking place after RollonFriday first reported the pair were talking about a combination on Friday (22 March).

    1 minute read

  • March 21, 2013 | International Edition

    Down payment – should firms face up to reality and cut NQ pay?

    A report this week by City recruitment company Edwards Gibson arguing that law firms need to reassess pay for junior lawyers is particularly timely, given our cover story today. The recruiter's claim that top law firms should consider substantially cutting newly qualified salaries comes as Legal Week research shows staff costs at the UK's leading law firms are continuing to soar, with total costs across the bulk of the top 30 up 7% year-on-year to a grand total of £4.5bn – well over a third of total fee income.

    1 minute read

  • March 21, 2013 |

    Down payment – should firms face up to reality and cut NQ pay?

    A report this week by City recruitment company Edwards Gibson arguing that law firms need to reassess pay for junior lawyers is particularly timely, given our cover story today. The recruiter's claim that top law firms should consider substantially cutting newly qualified salaries comes as Legal Week research shows staff costs at the UK's leading law firms are continuing to soar, with total costs across the bulk of the top 30 up 7% year-on-year to a grand total of £4.5bn – well over a third of total fee income.

    1 minute read

  • March 21, 2013 |

    Staff costs soar as top UK firms pay out almost 50% of revenues

    The UK's top 30 law firms spent almost half of their combined turnover on staff costs during the last financial year, with the total bill coming to £4.5bn. Legal Week analysis of limited liability partnership (LLP) accounts filed with Companies House for the 2011-12 financial year shows total staff costs for both lawyers and support staff accounted for 42% of fee income, with the total amount spent rising by 7.3% year-on-year.

    1 minute read

  • March 21, 2013 |

    Simmons makes double City partner hire from K&L Gates

    Simmons & Simmons has made a double partner hire from K&L Gates' London office, taking on the US firm's UK heads of pensions and employee incentives. Pensions partner Danny Tsang and employment partner Ian Fraser have joined Simmons' City employment and benefits team, taking the total partner count in the group to 10. Tsang has been at K&L Gates since 2007, when he joined from McDermott Will & Emery to launch a London pensions practice for the firm. His practice covers plan restructurings and corporate pensions strategies, as well as pensions aspects relating to corporate transactions, business recovery and restructuring.

    1 minute read

  • March 21, 2013 |

    Halliwells liquidator continues talks with ex-partners over reverse premium

    Halliwells' liquidator BDO is continuing to negotiate a deal with the defunct firm's former equity partners which could see the group forced to repay some of the controversial 'reverse premium' property payout they received. Legal Week has been provided with some details regarding the proposed settlement, but has chosen not to disclose them due to a confidentiality agreement surrounding the mediation. Mediation between BDO and 32 former equity partners of the collapsed firm has been ongoing for almost a year as the liquidator seeks to recoup some or all of the £21m payout which was shared between the equity partners in 2007.

    1 minute read

  • March 18, 2013 |

    Firms team up for new effort to tackle lack of diversity on career track

    Herbert Smith Freehills (HSF), Hogan Lovells and Eversheds are among a line-up of eight City firms spearheading a new initiative to promote diversity and multiculturalism for all legal sector employees. NOTICED, which will be launched at the Law Society this Wednesday (20 March), will feature a series of events at which legal professionals from all backgrounds can network, debate diversity issues and share good practice, in an effort to make the legal industry more accessible and boost cultural awareness.

    1 minute read

  • March 14, 2013 |

    Addleshaws eyes flexi-work push as low-cost base grows with new hires

    Addleshaw Goddard is looking to ramp up the use of flexible working by its lawyers following a six-month consultation with staff on how the firm can work more efficiently. The firm is set to pilot the flexi-working scheme within its employment practice, as it looks to accommodate the changing needs of staff and keep hold of talented lawyers unsatisfied with the standard working week.

    1 minute read

  • March 14, 2013 |

    Nabarro raises default partner retirement age

    Nabarro has raised its default partner retirement age from 60 to 62 and brought in a provision allowing partners to continue working beyond this limit if they desire. The move comes after the firm began a review of its retirement policy in the wake of legislative changes in 2011 to phase out default retirement ages for UK employees. Nabarro partners reaching the new retirement age will be able to continue working at the firm, subject to board approval.

    1 minute read