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  • December 22, 2008 |

    Sullivan & Cromwell

    Sullivan's hire of TIm Emmerson in 2006 secured the New York giant's long-awaited City corporate debut.

    1 minute read

  • December 8, 2008 |

    London misses out in Paul Weiss partnership round

    Paul Weiss Rifkind Wharton & Garrison has announced this year's promotions round, with all of the new partners made up in the US. The firm is set to make up four partners from 1 January, all of which are based in the New York headquarters.This time last year, the US firm made up five partners, four of which were based in the New York office, while one new partner was promoted in Beijing.

    1 minute read

  • December 5, 2008 | International Edition

    Leading UK lawyers added to new Who's Who list

    Weil Gotshal & Manges City managing partner Mike Francies, Freshfields Bruckhaus Deringer financial institutions co-head Will Lawes (pictured) and Slaughter and May corporate heavyweight Charles Randell are among a string of high-profile lawyers to land a mention in the 2009 edition of Who's Who.

    1 minute read

  • December 5, 2008 |

    Leading UK lawyers added to new Who's Who list

    Weil Gotshal & Manges City managing partner Mike Francies, Freshfields Bruckhaus Deringer financial institutions co-head Will Lawes (pictured) and Slaughter and May corporate heavyweight Charles Randell are among a string of high-profile lawyers to land a mention in the 2009 edition of Who's Who.

    1 minute read

  • December 5, 2008 |

    Proskauer lays off 35 associates and 25 staff

    Proskauer Rose is laying off 35 associates and 25 administrative staff, reports The Am Law Daily.The news was announced in a memo, sent out by the firm yesterday (4 December), although which offices or practice areas will suffer the most is not specified. The New York firm said the layoffs are due to both the economic crisis and the "unprecedented reduction in our historical lawyer attrition rate."Proskauer launched an office in London last year with hire of Matthew Hudson, the former head of O'Melveny & Myers' City arm.

    1 minute read

  • December 2, 2008 |

    Simpson Thacher makes up City duo to partnership

    Simpson Thacher & Bartlett has announced its 2008 promotions, with the US firm making up five new partners. The firm's City arm will gain two new corporate partners, Ian Barratt and Sinead O'Shea, while New York-based Joshua Levine and Nancy Mehlman have been made up in litigation and tax respectively. Beijing was gifted one new partner - Shaolin Luo - in corporate.The promotions will become effective as of January 2009.

    1 minute read

  • December 2, 2008 |

    Davis Polk cuts associate bonuses

    Davis Polk & Wardwell has announced that it is to halve associate bonuses, following similar moves by other US firms over the last two weeks, reports The Am Law Daily. The US firm says 2008 bonuses will range from a pro-rated $17,500 (£11,800) for first-year associates to $32,500 (£22,000) for eighth and ninth years. Those amounts match the reduced rates announced on 24 November by Simpson Thacher & Bartlett. Last year, Davis Polk bonuses began at $35,000 (£23,700) and topped out at $65,000 (£44,000).In a firmwide memo sent out yesterday (1 December), the management committee thanked associates, and noted that the year posed a "challenging economic environment."

    1 minute read

  • November 27, 2008 |

    JPMorgan, Morgan Stanley join fee cutting drive

    JP Morgan and Morgan Stanley are among a roster of leading banks attempting to slash fee agreements with panel law firms. Both banks are known to have contacted preferred advisers within the last month with a view to securing a reduction in fees - thought to be up to 15% - going forward. Banks including Lloyds TSB and Deutsche Bank are also understood to be in discussions with legal advisers with fees thought to be a key consideration.

    1 minute read

  • November 27, 2008 |

    US bonus season gets underway as firms cut back associate handouts

    Cravath Swaine & Moore and Skadden Arps Slate Meagher & Flom have kicked off the New York bonus round with Cravath confirming that its bonuses are set to halve this year. Both firms have also scrapped the special 'one-off' bonus brought in during last year's boom. The decision means associates at Cravath will receive a bonus of between $17,500 (£11,700) and $30,000 (£20,000) depending on their year of graduation, compared with a range of between $35,000 (£23,400) and $60,000 (£40,100) last year. On top of this, the firm last year paid out a special bonus of between $10,000 and $50,000 (£6,700 and £33,500).

    1 minute read

  • November 26, 2008 |

    ...Legal Week Lunchbox: 26/11/08...

    The five most popular articles on legalweek.com today; the pick of the day's posts; and more

    1 minute read