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  • February 21, 2014 |

    Revenue increases at City offices of Shearman and K&L outpace global rises

    Shearman & Sterling and K&L Gates have both posted increased global revenues, becoming the latest US-headquartered law firms to report strong financial performance in 2013. In London, Shearman saw a 20% revenue increase to $134.8m (£80.9m), the office's fourth straight year of revenue growth against a lawyer headcount rise of 7%. The results mean that since 2009, City revenue has increased 36%. The revenue jump means accounts fo

    1 minute read

  • February 19, 2014 |

    Sidley, Latham and V&E all post revenue increases for 2013

    Sidley Austin, Latham & Watkins and Vinson & Elkins have become the latest international firms to announce increases in year-on-year revenues. Latham saw revenue climb 2.7% to $2.29bn (£1.38bn), while profits per partner edged up 1.9% to $2.49m (£1.49m) and revenue per lawyer by a smaller margin to $1.11m (£664,000).

    1 minute read

  • February 17, 2014 |

    Transfer Window Asia: recent moves including Latham, Weil and Two Birds

    Shearman & Sterling has expanded is project development and finance practice with addition of Allens partner Anthony Patten in Singapore. Patten previously led Allens' oil and gas team in Asia and Australia, before which he was a partner in Ashurst's London energy, transport and infrastructure group. He also spent six years working in London and the UAE as a senior in-house counsel at Royal Dutch Shell.

    1 minute read

  • February 17, 2014 |

    Shearman launches nuclear projects group with Pillsbury hire

    Shearman & Sterling has launched a global nuclear power practice with the hire of Pillsbury Winthrop Shaw Pittman's international nuclear group head George Borovas in Tokyo. The US firm, which last month hired Allens' oil and gas leader for Asia and Australia, Anthony Patten, said it was investing in its projects group globally in a bid to tap new opportunities.

    1 minute read

  • January 30, 2014 |

    Is Weil's partner exodus a sign trouble is brewing at the firm's London office?

    When Weil Gotshal & Manges last year announced 170 redundancies across its associate and support staff ranks, the market was shocked but viewed it as a difficult but necessary decision. A drop in high-profile restructuring and litigation work had contributed to flat global revenues for 2012 against a nearly 9% fall in profits. Executive partner Barry Wolf admitted at the time of announcing the cuts that some partners may decide to leave as a result of "meaningful compensation adjustments for certain partners" due to the changes in the economy, but no numbers were referenced. Since then more than 30 partners – equating to around a tenth of the global partnership – have left. This included at least 17 partners packing up in Houston and Dallas, as well as several senior partners from the firm's east coast bases. Market sentiment suggests at least some of the senior departures represent collateral damage.

    1 minute read

  • January 30, 2014 |

    Cleary grabs mandates on pair of Google deals including €3bn mobile sale

    Cleary Gottlieb Steen & Hamilton has scored roles on a brace of deals for Google, including the internet search giant's proposed €3bn (£1.8bn) sale of Motorola Mobility to Lenovo.

    1 minute read

  • January 29, 2014 |

    Taking the cure – Thomas Cook Group GC Craig Stoehr on turning around the travel company's fortunes

    Thomas Cook Group's chief executive, Harriet Green, has a succinct way of explaining the company's recent history, according to general counsel Craig Stoehr. "I have heard her say several times that the company was a cancer patient, underwent treatment and remission, and is currently transitioning to the 'cured' stage," he says, reflecting on the travel operator's remarkable turnaround. For an indication of the recent decline and recovery at Thomas Cook, a three-year graph of the company's stock price is a good place to start. At the beginning of 2011, shareholders revolted at a proposed pay package for the company's top executives after poor trading and a greater than expected financial hit from the 2010 Icelandic ash cloud had dented performance. At this point, shares were still trading at just below 200p.

    1 minute read

  • January 27, 2014 |

    US giants and magic circle trio advise on Liberty Global's €6.9bn Ziggo purchase

    A host of firms including Ropes & Gray, Latham & Watkins, Allen & Overy (A&O) and Freshfields Bruckhaus Deringer have taken the lead roles on Liberty Global's cash and stock purchase of Dutch cable company Ziggo for €6.9bn (£5.7bn).

    1 minute read

  • January 24, 2014 |

    Slaughters makes first ever lateral partner hire to add US capability in Hong Kong

    Slaughter and May has made its first ever lateral partner hire in Asia with the addition of Morrison & Foerster US capital markets partner John Moore in Hong Kong. The magic circle firm, which rarely makes lateral hires, has brought in Moore as part of a strategy to provide US law counsel in the region.

    1 minute read

  • January 9, 2014 |

    Recovery in question as 2013 sees lowest UK M&A deal value for 12 years

    Despite the rise in mega-deals towards the tail end of 2013, last year yielded the lowest overall value for UK M&A activity since 2001.

    1 minute read