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  • June 18, 2010 |

    Olswang and McGrigors unveil low retention rates for September NQ intakes

    Olswang has kept on just 14 of the 24 newly-qualified (NQ) lawyers in the firm's September intake, equating to a retention rate of 58%. The firm has said that it did offer 19 places to its trainees, but that some departments were oversubscribed.

    1 minute read

  • June 9, 2010 |

    Partners wary of expected US/UK mergers

    Senior lawyers are expecting more mergers between US and UK law firms in the wake of the creation of Hogan Lovells and SNR Denton, but many remain sceptical of the tangible benefits of such tie-ups, according to Legal Week's latest Big Question survey. Ninety-two percent of respondents to the survey felt that the two recent high-profile deals are likely to lead to an upturn in merger activity between large US and UK practices, including 13% who said such tie-ups are 'much more likely'.

    1 minute read

  • June 9, 2010 |

    Italy: Italian drive

    The Italian legal market has always been a difficult battlefield for international law firms, with the country's independents dominating the local legal scene. And the past 18 months indicate that the recession has made it even harder for large Anglo-Saxon law firms to balance the books, with many firms having to take a long, hard look at their operations in the country. Many firms have seen a considerable reduction in terms of lawyer headcount and speculation is rife that some firms might pull out of the jurisdiction altogether.

    1 minute read

  • June 4, 2010 |

    Dewey Frankfurt managing partner quits to launch tax boutique

    Dewey & LeBoeuf's Frankfurt managing partner Hanno Berger is quitting the firm along with banking and finance partner Kai-Uwe Steck to launch a new tax boutique. The pair will leave Dewey on 31 July and are currently in discussions with the US firm over the potential departures of a further eight tax lawyers and consultants to staff the new operation.

    1 minute read

  • June 2, 2010 |

    A&O appoints new managing partner for German operation

    Allen & Overy (A&O) has elected tax heavyweight Gottfried Breuninger as the firm's new German managing partner. Breuninger launched the magic circle firm's Munich office in 2008 when he joined from Shearman & Sterling, where he headed up the Munich base as well as the German tax practice. He was also the co-head of the US firm's international tax practice.

    1 minute read

  • May 26, 2010 |

    China: Years of the dragon

    On Tuesday 4 May at 7:30am a car arrived to pick up former Lovells Beijing managing partner Robert Lewis from his house in the Shunyi district of the Chinese capital, a part of town popular with expats. As it weaved its way off the estate and onto the traffic-choked main road leading to the city centre, Lewis thought about what lay ahead for him at AllBright Law Offices, the Chinese law firm where he was about to start his first day's work. His decision to join the firm, where his brief is to overhaul AllBright's structure and expand its Beijing office to match its market-leading offering in Shanghai, is one Lewis has been edging towards for years now, and he maintains it is unrelated to Lovells' recently concluded merger with US firm Hogan & Hartson.

    1 minute read

  • May 24, 2010 |

    Olswang ushers in merit-based pay for assistants

    Olswang has become the latest law firm to move from a post-qualification experience (PQE) model for associate pay in favour of a merit-driven structure. The new regime will come into effect from 1 September and will see associates progress through three levels depending on performance and ability rather than a traditional lockstep model, which sees career progression directly linked to years of PQE.

    1 minute read

  • May 19, 2010 |

    Citigroup names 'golden nine' line-up of UK firms in two-tier EMEA panel

    Citigroup has overhauled its external legal arrangements, creating two new panels of preferred law firms. The banking giant has unveiled new panels of advisers in the Europe, Middle East and Asia (EMEA) region and the US, formalising its previous roster of law firms.

    1 minute read

  • May 19, 2010 |

    Shearman appoints London partner to top-level policy board

    Shearman & Sterling has appointed financial regulatory partner Barney Reynolds to its main policy board. Reynolds replaces London office managing partner Anthony Ward on the board after an election process. Reynolds becomes the sole non-US representative on the board, which deals with policy and recommending new lateral partner hires. It also deals with issues such as partner compensation.

    1 minute read

  • May 19, 2010 |

    Wall Street's legal elite stage recovery but fees fall at US top 100

    Wall Street's leading law firms have defied gloomy predictions to stage a notable comeback in 2009, emerging as the top performers among the US's 100 largest law firms. Financial results for 2009 from Legal Week's US sister title The American Lawyer show that the 13 New York firms with profits per equity partner (PEP) of more than $2m (£1.3m) overcame the toughest trading conditions for a generation to raise partner profitability by 3%.

    1 minute read