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  • April 17, 2009 |

    Mayer Brown partners approve top-level overhaul

    Mayer Brown's partnership has approved a new governance structure for the firm in an overhaul that sees vice chairman Paul Maher miss out on a top-level management role. The new management structure sees the elimination of the both vice-chairman seats, which were previously filled by London corporate partner Maher (pictured) and Washington DC litigation partner Kenneth Geller. It is unclear what Maher's new role within the firm will be. Along with voting in favour of Herbert 'Bert' Krueger to replace James Holzhauer as chairman in June, the firm's partners also approved a plan to create a new governance structure that replaces its current 16-member policy and planning committee with a new six-member management committee and 12-member partnership board.

    1 minute read

  • April 8, 2009 |

    Shearman acts for Dow Chemical on $1.7bn sale

    Shearman & Sterling has reprised its role for Dow Chemical, advising the company as it agrees to sell Rohm and Haas unit Morton International to a German agrichemicals company for $1.7bn (£1.14bn). The company will use the sale to help finance its $16.5bn (£11.1bn) buyout of Rohm, which closed last week (2 April) - a deal on which it also turned to Shearman.

    1 minute read

  • April 7, 2009 |

    Mayer Brown elects new chair in top-level revamp

    Mayer Brown's partner committee has selected Herbert 'Bert' Krueger to replace James Holzhauer as firm chairman, pending a partnership vote later this month, reports The National Law Journal. Krueger, who is based in Chicago, will become chairman of the firm this June under a new governance structure, if the partners vote in favour of the changes, the firm said in a statement.Holzhauer said in March said he was stepping down from the post for health reasons and because he had grown weary of the heavy travel schedule associated with the job.

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  • April 3, 2009 |

    Mayer Brown lays off 45 lawyers across US offices

    Mayer Brown has announced that it is cutting 45 lawyers and 90 administrative staff across its US offices. In a statement released by the firm on Thursday (2 April), chairman James Holzhauer blamed the reductions on the prolonged downturn in the global economy, which has resulted in "reduced business activity by our clients".The cuts are the latest by the Anglo-American law firm. Last November it let go of 33 lawyers from its global network; while in March, the firm confirmed that up to 55 legal and staff jobs were under threat in London.

    1 minute read

  • April 1, 2009 |

    Major US firms' City partner promotions hit a four-year low as only 34 make the grade

    Partner promotions at some of the largest US law firms in London hit a four-year low in 2009, with just 34 lawyers making the grade compared to 54 the year before, according to research from Legal Week. A survey of promotion trends at 28 leading US firms in London found promotions had increased each year between 2005 and 2008, before this year's fall. In 2005, 36 lawyers were made up, with that figure increasing to 38 for 2006 and 48 for 2007, before last year's bumper haul.

    1 minute read

  • April 1, 2009 |

    Orrick and Arnold & Porter step up lateral hiring in London as partners move between US firms

    Mayer Brown, Orrick Herrington & Sutcliffe and Arnold & Porter were the most active recruiters of lateral partners among US law firms in London last year. Legal Week research has found that Orrick picked up seven new partners - with the most significant haul of five partners coming from collapsed firm Heller Ehrman, including venture law group partners Richard Eaton, Chris Grew and Struan Penwarden.

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  • March 27, 2009 |

    Barlows loses three-partner insurance team to Clydes

    Barlow Lyde & Gilbert is set to lose a team of partners to insurance rival Clyde & Co. Legal Week has learned that a group from the firm's newly-merged commercial risk and reinsurance practice is expected to leave the firm over the next few weeks. It is thought that around three partners, including Roger Doulton, will join Clydes. The news comes after Legal Week reported earlier this month that former reinsurance chief Colin Croly had left Barlows after 29 years as a partner. Croly's next move is unclear, but it is understood that he is not joining Clydes.

    1 minute read

  • March 26, 2009 |

    The write stuff - Kaplan Law School essay competition

    As the recession continues to bite, students are finding that training contracts are in increasingly short supply. Last week magic circle firms Slaughter…

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  • March 26, 2009 |

    Shearman freezes pay for UK-qualified lawyers

    Shearman & Sterling has announced that it is to freeze salaries for all of its UK-qualified lawyers in London, Asia and the Middle East. The measure means that associates will not move up the lockstep, and will continue to earn the same amount as they did during 2008. Lawyers with one year post-qualification experience (PQE) will continue to earn £80,000, while 2PQE associates will take home £84,000 and 3PQEs £92,000.

    1 minute read

  • March 26, 2009 |

    Advisers gear up for robust regulation after Turner Report

    City partners are predicting an increase in banking litigation and regulatory work in the wake of the Turner Report, which calls for tighter regulation of the financial sector in response to the economic crisis. Partners at firms including Allen & Overy (A&O), Mayer Brown, Nabarro and Denton Wilde Sapte have all given the report their broad support - despite criticism of some of the individual components.

    1 minute read