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  • February 11, 2009 |

    US firms see record year for laterals as 2,500 partners swap firms in 2008

    Leading US law firms saw a record year for lateral moves in 2008 despite the financial downturn, with a 4% increase in partner moves during the year. Research from Legal Week sister title The American Lawyer found that 2,509 partners in Am Law 100 and 200 firms transferred to rivals over the course of 2008. K&L Gates took on the most lateral partners, bringing in 185 over the period, followed by Reed Smith with 74, DLA Piper with 58 and Jones Day with 57.

    1 minute read

  • February 11, 2009 |

    Fewer seats at the table

    This is the year of low expectations, where even some who have been elected to partnership - and who expected to make the cut - sound surprised. "I was not so confident, given the economy," says Rena Chng, a newly-elected partner at Mayer Brown's Palo Alto office. Though Chng says she had successfully handled a big litigation matter this past year and was the only one in her office to be put up for partnership, she says, "If they had said, 'you won't make it this year,' I would have understood."Indeed, the number of newly-minted partners has generally plummeted since last year - along, presumably, with the firms' business. For instance, Milbank Tweed Hadley & McCloy promoted just four this year, compared to 11 last year; O'Melveny & Myers, 15 (23 last year); Mayer Brown, 27 (43 last year); Morrison & Foerster, 10 (24 last year); Simpson Thacher & Bartlett, five (eight for 2007; 13 for 2006); Wilson Sonsini Goodrich & Rosati, eight (13 last year); and Weil Gotshal & Manges, seven (21 last year).

    1 minute read

  • February 5, 2009 |

    SocGen shakes up adviser roster in global review

    A raft of City firms have won places on Societe Generale's (SocGen's) global legal panel, in a review that has seen Freshfields Bruckhaus Deringer, White & Case and Orrick Herrington & Sutcliffe lose out. The bank has cut the number of global panel firms from nine to eight with Paul Hastings Janofsky & Walker and Salans winning places on the roster. The process has also seen Allen & Overy, Clifford Chance, Gide Loyrette Nouel, Shearman & Sterling, Linklaters and Norton Rose re-appointed.

    1 minute read

  • February 5, 2009 |

    City boutique brushes up alongside US trio on $400m haircare buyout

    Cravath Swaine & Moore, Jones Day, Baker & McKenzie and London boutique Wallace have been handed roles on the $411.5m (£288m) sale of haircare business TIGI to consumer products giant Unilever. The deal gives Unilever its first entry into the salon hair-care market, with brands such as Bed Head and S-Factor. Cravath advised Unilever on the US corporate aspects of the deal, fielding a team led by New York corporate partner Peter Wilson and tax partner Michael Schler.

    1 minute read

  • February 4, 2009 |

    Akin Gump posts partner profits hike of 16.7%

    Akin Gump Strauss Hauer & Feld saw revenue increase by 3.8% last year, despite heavy partner losses in 2008. The US firm took in revenues of $780.5m (£542.6m) in 2008, while profits per partner climbed by 16.7% to $1.41m (£980,000). Akin Gump's increase in profits came after the firm shed 59 partners in 2008 - more than any other firm that did not dissolve.

    1 minute read

  • January 28, 2009 |

    Nabarro signs up new partner for IT/comms team

    Nabarro has bolstered its IT and communications practice with the lateral hire of Boyes Turner partner Geoff Mendelsohn. Mendelsohn joins the firm this month after five years with Boyes Turner, where he headed the IT litigation team. He joins Nabarro's London IT and communications group, taking headcount in the team - which includes technology head Tony Bailes - to four partners and nine associates.Mendelsohn specialises in dispute resolution and has experience working in commercial, industrial and professional sectors including engineering and construction, gas, product liability and information technology. He was involved in leading the team for EDS against National Air Traffic Control.

    1 minute read

  • January 21, 2009 |

    A shift in China's IP landscape

    For years, foreign companies have complained that patent and trademark infringers in China are treated too lightly. With damages typically capped at YUAN500,000…

    1 minute read

  • January 19, 2009 |

    Fried Frank loses seven-strong team in Paris

    Fried Frank Harris Shriver & Jacobson has lost a seven-lawyer team from its Paris office, just two months after the US firm lost a six-lawyer team in the French capital. The team, which includes corporate/M&A partner Patrick Jais and intellectual property partner Barbara Levy (pictured), joins Paris heavyweight De Pardieu Brocas Maffei today (19 January).In addition, Sophie Touhadian-Giely joins as of counsel from a position as associate at Fried Frank. The teams also include four associates.

    1 minute read

  • January 15, 2009 |

    Cadwalader's Link to head up firm's City recovery

    Cadwalader Wickersham & Taft has parachuted in Bob Link to head up the London office after the firm was rocked by a seven-partner walkout yesterday (14 January). Firm chairman Christopher White and Link (pictured) flew to London yesterday in a last-ditch attempt to persuade the seven partners to stay.

    1 minute read

  • January 14, 2009 |

    A guiding light in corporate social responsibility

    Corporate social responsibility (CSR) is becoming an increasingly serious business at UK law firms. Ad hoc sprees of well-intentioned do-gooding are out, replaced by projects carefully designed to make use of lawyers' skills. The London arm of Weil Gotshal & Manges, for example, assists human rights organisations monitor proceedings in the international criminal court in The Hague. Wragge & Co, meanwhile, gives free legal advice to local charities. And Weightmans runs a project providing work experience for the unemployed.All of this looks impressive on paper, but how does the modern CSR programme work in practice?

    1 minute read