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  • January 26, 2012 |

    Lawyers call for caution after Cable's executive pay reform proposals

    Lawyers have urged caution in the wake of Vince Cable's proposals to reform executive pay, with some warning that popular pressure to curb business leaders' salaries could result in knee-jerk legislation. The Business Secretary's proposed reforms, announced earlier this week, include the suggestion that investors are handed a binding vote on directors' notice periods and exit payments, while other proposals could see a clawback mechanism for executive bonuses.

    1 minute read

  • January 20, 2012 |

    Merger mania again - but has anything changed this time?

    You can forget all the forensic stuff about strategic tie-ups; large UK mergers usually don't make it over the line because the partners haven't wanted them enough and didn't sufficiently fear the consequences of not doing a deal...

    1 minute read

  • January 19, 2012 |

    Stayin' alive (just) – high street woe looks set to shake restructuring market out of relative calm

    With budget fashion retailers Peacocks and Barratts this week looking set to join a growing list of high street casualties in the latest round of economic turmoil, 2012 should – in theory – shape up to be a busy year for City restructuring and insolvency partners. To date, January has already seen the likes of Addleshaw Goddard, Travers Smith, Linklaters and SJ Berwin win roles on the administrations of Blacks Leisure and lingerie chain La Senza and, with many predicting a surge of additional collapses, the tally of firms winning work from turbulence on the high street is obviously set to increase. Still, a quick glance behind the more high-profile headlines shows that restructuring – and in particular, insolvency – work has so far failed to see the sustained upsurge predicted in the wake of Lehman Brothers' collapse and the onset of the last recession. While there was a run of deals in the wake of the banking crisis through 2009 and early 2010, by consensus pickings have been slimmer than restructuring teams expected.

    1 minute read

  • January 19, 2012 |

    More major law firms assess plans to join 'Tesco law' revolution

    Hill Dickinson and Kennedys have become the latest top 50 law firms to confirm plans to convert to an alternative business structure (ABS), as growing numbers of firms gear up for the 'Tesco Law' revolution. DAC Beachcroft, Field Fisher Waterhouse and Withers, as well as Keoghs, are all actively considering an ABS conversion, which permits non-lawyer ownership of law firms through either external capital injections or a float and allows law firms to tag on non-legal services.

    1 minute read

  • January 19, 2012 |

    Finance partners cheer bid to make London a renminbi trading hub

    Finance partners have welcomed plans by the UK Government to help strengthen London's position as a leading financial centre by turning it into an offshore trading hub for China's renminbi (RMB) currency. Chancellor of the Exchequer George Osborne signed a deal on Monday (16 January) in Hong Kong setting out plans to make London a trading centre for the currency, which is becoming increasingly important as China's economic power continues to grow.

    1 minute read

  • January 19, 2012 |

    Pinsents and McGrigors in merger talks over near-£300m tie-up

    Pinsent Masons and McGrigors are in merger talks over a deal that could create a combined firm with revenues of around £282m. The talks have been confirmed by both firms today (19 January) with partner votes expected to be held in February. If a deal goes ahead, the combined firm would be ranked 12th in the UK top 50, with McGrigors reporting 2010-11 turnover of £70m and Pinsents' revenues standing at £212.5m.

    1 minute read

  • January 16, 2012 |

    LG rebuilds City finance practice with hire of Stephenson Harwood team

    LG has moved to rebuild its City finance practice with a team hire from Stephenson Harwood. Real estate finance consultant John Fox and senior associates Matthew East and Simon Elphick will all join LG as partners in March.

    1 minute read

  • January 13, 2012 |

    Salans broadens Turkey capabilities with new alliance deal

    Salans has sealed a new alliance deal in Turkey, joining forces with local firm Balcioglu Selcuk Akman in a deal which will expand its practice in the country. Salans, which was formerly allied with Turkey's Ozel & Ozel, has had a presence in the country for eight years. The new alliance will hand the firm new capability in banking, finance and litigation.

    1 minute read

  • January 12, 2012 |

    Travers Smith secures pension work mandate for Vodafone

    Travers Smith has won Vodafone as a first-time client, with the City firm securing a mandate to carry out pensions work for the telecoms giant. The firm was appointed in December last year, despite missing out on a spot on Vodafone's new UK panel announced in September 2011. The relationship will be managed by Travers pensions partner Peter Esam, with the firm hoping to expand the relationship into off panel mandates in other practices where possible.

    1 minute read

  • January 9, 2012 |

    SNR Denton signs up Linklaters banking partner for London base

    SNR Denton has recruited a Linklaters banking partner, with Edward Hickman joining the transatlantic firm's London office today (9 January). Hickman, who has been a partner in Linklaters' structured finance team for the last six years, will join SNR Denton's banking and finance department, which is headed up by City partner Paul Holland since he replaced Serge Sergiou in the role last November.

    1 minute read