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  • March 7, 2007 |

    Commentary: US City results: for whom the bellwether tolls

    If there is one theme emerging from the figures for US firms' London outposts in 2006, it is just how divergent this amorphous group has become - particularly the more established players. On paper, 2006 should have been a great year: markets booming, M&A activity up and UK firms of all sizes mostly announcing record results.

    1 minute read

  • March 5, 2007 |

    Mayer Brown cull is long overdue

    When Mayer Brown Rowe & Maw took the unusual step of appointing what was effectively a three-man committee to run the firm on the impending retirement…

    1 minute read

  • March 5, 2007 |

    Mayer Brown set for 10% equity cull

    Mayer Brown Rowe & Maw has drawn up plans to axe 45 partners from its equity - equivalent to around 10% of its equity partnership - in a bid to boost profitability at the Chicago giant. Most of the de-equitisations are likely to take place across the firm's US offices, although it is not yet known which offices and practice groups will take the biggest hit.

    1 minute read

  • February 26, 2007 |

    Manhattan elite lines up for record TXU buy-out

    Elite New York firms Simpson Thacher & Bartlett and Sullivan & Cromwell have bagged plum roles on the $45bn (£23bn) leveraged buyout (LBO) of utilities giant TXU - potentially the largest LBO to date. Simpson Thacher is lead adviser to the bidding consortium, comprising private equity giants Kohlberg Kravis Roberts & Co (KKR) and Texas Pacific Group, which is being advised by Cleary Gottlieb Steen & Hamilton.

    1 minute read

  • February 21, 2007 |

    US firms set to tap young talent after booming 2006

    US firms look set to maintain their expansive form in 2007 - and their increasing demand for UK trainees - with a select group of America's leading firms this month unveiling robust results for their London offices. Leading the pack, White & Case achieved a 38% rise in UK revenue to bill $172.2m (£88.4m). London profits per equity partner (PEP) also rose 67% to hit $1.28m (£657,000), against $764,000 (£392,000) in 2005.

    1 minute read

  • February 14, 2007 | International Edition

    Germany leads way as Weil unveils '06 results

    The German practice of Weil Gotshal & Manges has emerged as one of the firm's best-performing offices after the New York giant revealed modest firmwide financial growth for 2006. The Manhattan firm saw turnover increase by just 4% across the firm to reach $1.06bn (£544m) - up from a mark of $1.02bn (£524m) for the previous 12-month period. Average profits per partner also rose by around 4%, up from $1.85m (£950,610) to a new figure of $1.95m (£1m).

    1 minute read

  • February 14, 2007 |

    Germany leads way as Weil unveils '06 results

    The German practice of Weil Gotshal & Manges has emerged as one of the firm's best-performing offices after the New York giant revealed modest firmwide financial growth for 2006. The Manhattan firm saw turnover increase by just 4% across the firm to reach $1.06bn (£544m) - up from a mark of $1.02bn (£524m) for the previous 12-month period. Average profits per partner also rose by around 4%, up from $1.85m (£950,610) to a new figure of $1.95m (£1m).

    1 minute read

  • February 12, 2007 |

    PEP up 10% as McDermott posts 2006 results

    McDermott Will & Emery has become the latest US firm to post robust financial results for 2006, with partner profits up 10% and turnover up 8% at the Chicago giant. Fee income rose to $860m (£441m) - up from just shy of $800m (£411m) for 2005, while profits per equity partner (PEP) climbed 10% from $1.28m (£656,800) in 2005 to a new mark of $1.4m (£718,000).

    1 minute read

  • February 8, 2007 |

    US firms post robust results as M&A powers market

    A raft of East Coast firms have unveiled strong turnover growth, in the clearest indication yet that 2006 has been a robust year for US law firms.

    1 minute read

  • February 7, 2007 |

    A&O holds off rivals to retain top spot in capital markets rankings

    Allen & Overy (A&O) has topped the debt capital markets rankings for 2006 after advising on 693 deals worth a total value of $371.6bn (£189bn). The City giant held on to its lead at the top of the securities table advising managers on international debt issues, according to research compiled by Thomson Financial.

    1 minute read