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  • February 7, 2008 | International Edition

    US firms move to protect European partners as dollar slump continues

    A growing number of leading US law firms are moving to shield European partners and associates from the prolonged slump in the dollar, it has emerged. Firms including Latham & Watkins and Orrick Herrington & Sutcliffe are reviewing provisions for partners in overseas offices, while several elite Wall Street firms have already moved to guarantee packages for UK-based associates.Both Latham and Orrick already have hedging provisions in place to offset currency risk but are now reviewing their models in a bid to remain competitive in Europe. Crucially, many firms claim the poor exchange rate has made lateral partner recruitment in the City much more difficult.

    1 minute read

  • February 7, 2008 |

    US firms move to protect European partners as dollar slump continues

    A growing number of leading US law firms are moving to shield European partners and associates from the prolonged slump in the dollar, it has emerged. Firms including Latham & Watkins and Orrick Herrington & Sutcliffe are reviewing provisions for partners in overseas offices, while several elite Wall Street firms have already moved to guarantee packages for UK-based associates.Both Latham and Orrick already have hedging provisions in place to offset currency risk but are now reviewing their models in a bid to remain competitive in Europe. Crucially, many firms claim the poor exchange rate has made lateral partner recruitment in the City much more difficult.

    1 minute read

  • February 4, 2008 |

    US trio lead on Microsoft's $44.6bn Yahoo bid

    Skadden Arps Slate Meagher & Flom is leading a heavyweight line up of advisers on Microsoft's $44.6bn (£22.6bn) approach for web rival Yahoo. The New York firm is advising Yahoo on the deal, while Simpson Thatcher & Bartlett and Cadwalader Wickersham & Taft are understood to be acting for Microsoft.

    1 minute read

  • January 16, 2008 |

    London lawyers fare well in US firms' latest partnership promotions round

    London lawyers have made up around 10% of US firms' overall partnership additions in the latest promotions round. The latest firms to announce their promotions are Dechert, Jones Day and McDermott Will & Emery, which between them have named 98 lawyers as partners worldwide, although only nine of those are London based.

    1 minute read

  • January 10, 2008 |

    Cravath peers out a little further beyond Manhattan

    New York’s Cravath Swaine & Moore has never been known for aggressive overseas expansion. Among its closest New York rivals, only Wachtell Lipton…

    1 minute read

  • January 9, 2008 |

    CC boosts KKR links via role on £593m IT buy-out

    Clifford Chance (CC) has strengthened its relationship with US buy-out giant Kohlberg Kravis Roberts & Co (KKR) after advising on the client's £593m acquisition of IT group Northgate Information Solutions.

    1 minute read

  • December 18, 2007 |

    Dow Jones nabs new GC from Harper Collins

    Dow Jones has swiped Harper Collins associate general counsel Mark Jackson to head up its legal team. Jackson is to take over from current Dow Jones general counsel Joseph Stern, who joined the financial newswire in 2004 as general counsel and company secretary from the New York office of Dow Jones' main corporate adviser, Fried Frank Harris Shriver & Jacobsen.

    1 minute read

  • December 17, 2007 |

    Simpson, Skadden scoop $10bn Trane sale

    Elite New York firms Simpson Thacher & Bartlett and Skadden Arps Slate Meagher & Flom have bagged lead roles on the $10.1bn (£5.2bn) acquisition of air conditioning company Trane by US conglomerate Ingersoll-Rand. Simpson Thacher advised Ingersoll-Rand, a long-term client of the firm, while Skadden advised the target on a deal that was announced earlier today (17 December).

    1 minute read

  • December 14, 2007 |

    Latham ramps up parental benefits for associates

    Latham & Watkins has announced a new parental leave policy for associates this week that significantly ups the amount of leave biological and adoptive parents can take while receiving their full base salary, writes The Recorder. Some observers say that, much like associate salaries, Latham's move - and some by other firms - could have ripple effects.

    1 minute read

  • December 12, 2007 |

    Deals 2007: UK lawyers look back on a year of two halves

    For once the cheesy sporting metaphor is apt - almost every City partner agrees 2007 has been a year of two halves. While the first six months saw firms busier than ever, working on deals including the first-ever take-private of a FTSE 100 company and the E70bn (£50bn) bidding war for ABN Amro, the summer's credit crunch means firms are seeing out the year in very different style.

    1 minute read