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  • March 15, 2011 |

    Then we take Manhattan - can Norton Rose really take on the world?

    Not too long ago, Norton Rose looked like an also-ran. The London firm, known for its financial institutions practice, stumbled badly after its offices were bombed - twice - by IRA terrorists in the early 1990s. It jumped belatedly on the global bandwagon, establishing a network of European offices that did not turn a profit for half a decade. By the early 2000s, key partners were running for the exits. The magic circle, formerly Norton Rose's closest rivals, had pulled far ahead.

    1 minute read

  • March 15, 2011 |

    Partner profits at top New York firms spike on Wall Street rebound

    Partner profits at elite New York firms saw a strong recovery in 2010 after a surge in M&A and capital markets work, reports The Am Law Daily. Six Wall Street firms in the $2m-plus partner profits (PEP) club saw profitability soar last year, including Paul Weiss Rifkind Wharton & Garrison, which saw PEP rise 15% to $3.05m (£1.9m).

    1 minute read

  • March 14, 2011 |

    10 years and still going strong: Links' Singapore JV continues to deliver the goods

    Singapore's joint law venture (JLV) regime, which required international firms to pair with local firms to practise Singapore law, never had many fans. Tie-ups between Shearman & Sterling and Stamford Law Corporation; between White & Case and Colin Ng & Partners; and between Orrick Herrington & Sutcliffe and Rodyk & Davidson all ended within a few years of the programme's launch in 1999. Most of the rest folded almost as soon as Singapore announced in 2008 that it would issue licences for some foreign firms to practise local law outside of a JLV.

    1 minute read

  • March 10, 2011 |

    Salans and Shearman lead on deal set to revive steel production in Teeside

    Salans and Shearman & Sterling have advised alongside three other law firms on a $468m (£287m) acquisition that will see a steel production site in Teeside re-opened, securing hundreds of local jobs. Salans advised Thailand's Sahaviriya Steel Industries (SSI) on the deal, which saw SSI acquire Teeside Cast Products in Redcar from Tata Steel Group.

    1 minute read

  • March 3, 2011 |

    Shearman sees London PEP fall 10% against 5% turnover increase

    Shearman & Sterling's London office has announced its 2010 financial results, posting a 5% increase in revenues against a double-digit drop in profits per equity partner (PEP). The US firm's gross fee income in London stood at $104.2m (£63.9m) for the 2010 calendar year, a 4.5% increase on the 2009 total of $99.7m (£61.2m).

    1 minute read

  • March 3, 2011 |

    Banking & Finance

    Shearman & Sterling assesses Europe's high-yield debt market and Norton Rose looks at the future of social housing funding

    1 minute read

  • March 2, 2011 |

    GE names Europe M&A counsel as Anheuser-Busch InBev reviews firms

    General Electric (GE) has reviewed its European M&A panel, with four of the five firms appointed in 2007 retaining a place on the roster. Slaughter and May, Weil Gotshal & Manges, Allen & Overy and Ashurst have all been reappointed to the panel for another four-year term. The appointments follow a tender process which kicked off last year and was concluded in January after several months of negotiations.

    1 minute read

  • March 2, 2011 |

    Howrey US departures continue as six-partner team joins Pillsbury

    Howrey is continuing to see partners leave the firm in the US as it awaits the resolution of talks with Winston & Strawn, writes the American Lawyer. Pillsbury Winthrop Shaw Pittman has picked up a six-partner Howrey construction litigation team, which also includes two counsel and seven associates spread across Los Angeles, San Francisco, Washington DC and New York. The team is led by San Francisco partner John Heisse, who will head Pillsbury's firmwide construction litigation team, and also includes Washington DC partners David Dekker, Jeffrey Gans, Melissa Lesmes, Michael McNamara and Los Angeles partner Robert Thum.

    1 minute read

  • March 1, 2011 |

    Shearman posts falling revenue and partner profits for 2010 financial year

    Shearman & Sterling saw an 8% fall in both revenue and partner profits in 2010, reports the Am Law Daily. The New York law firm this week released figures showing that gross revenues slid from $801m (£497m) in 2009 to $737m (£457m), while profits per equity partner fell from $1.74m (£1.07m) to $1.57m (£972,000).

    1 minute read

  • March 1, 2011 |

    Howrey City competition duo quit to join Kirkland's London office

    Kirkland & Ellis has added two partners to its City competition practice with a double hire from Howrey's London office. Shaun Goodman, one of the last remaining Howrey partners in London following a slew of departures in recent months, focuses on merger control, market dominance, cartel investigations, sector inquiries and private enforcement.

    1 minute read