Filter This View

  • August 4, 2010 |

    Top 30 trainee retention returns to more than 80% as economy turns

    Trainee retention rates at the UK's leading law firms are recovering strongly this year as activity levels begin to pick up in the wake of the downturn. The average retention rate for September intakes across the UK top 30 firms currently stands at 81%, an improvement of seven percentage points on September 2009, based on the number of qualifying trainees due to remain at their firm.

    1 minute read

  • August 4, 2010 |

    Bird & Bird cuts associate pay bands as UK top 20 firms announce rates

    A number of UK top 20 law firms have announced their associate salary levels for the year ahead, with several opting not to increase their rates. Bird & Bird has reduced its pay bands for associates with between one and three years' post-qualification experience (PQE), while trainee and newly-qualified (NQ) salaries remain unchanged. The City firm has taken £2,000 off each pay band between one and three years' PQE with levels now standing at £58,000, £63,000 and £69,000

    1 minute read

  • July 21, 2010 |

    Camerons makes widest use of 'flex' schemes at City firms

    CMS Cameron McKenna and Norton Rose are the UK law firms which made the greatest use of flexible working as a cost-saving measure during the recession, according to Legal Week research. Camerons put around 700 members - including 364 lawyers - of its UK staff of slightly more than 1,000 on its year-long scheme that finished in May.

    1 minute read

  • July 21, 2010 |

    Firms divide up Halliwells assets and 38 staff are laid off as sell-off closes

    Halliwells has completed the break-up and sale of its remaining business, after deals with a number of firms were yesterday (20 July) approved by the court. Hill Dickinson has bought the firm's 19-partner Liverpool office and the remains of its Sheffield practice, while the firm's London office has been split between a number of firms, with HBJ Gateley Wareing and Barlow Lyde & Gilbert both taking on sizable teams. HBJ Gateley has recruited City employment partner Guy Guinan, corporate partner Dan Kelmanson and insolvency partner Sadaf Buchanan, while insurance partners Helen Bourne and Damian McPhun have joined Barlows. Remaining partners Catherine Moss and Richard Slaven are joining Fasken Martineau and Pinsent Masons respectively. In total nine fee earners are joining HBJ Gateley in London.

    1 minute read

  • July 20, 2010 |

    Pinsents wins extension to Man Utd deal as club reviews advisers

    Pinsent Masons has won a second term on Manchester United's legal panel. Pinsents has held a panel role to advise the football club on data protection and employment law since 2008, with the appointment now extended for a further two years. Brabners Chaffe Street is also understood to have been retained on the panel after first being appointed in 2008 to advise on dispute resolution, real estate and some aspects of commercial law. The other firms to take panel roles in 2008 were Beachcroft, Halliwells and Wiggin.

    1 minute read

  • July 14, 2010 |

    UK law leaders see profits revival as revenues slide across the top 50

    The UK's top law firms have managed a major rebound in profitability this year despite the aftermath of the global recession handing the group its first collective fall in revenues in recent memory. Legal Week's 2009-10 results, the first comprehensive picture of the performance of the UK's top 50 law firms, shows revenues across the group fell by £461m, from £12.33bn in 2009 to £11.87bn.

    1 minute read

  • July 14, 2010 |

    Nationals firms post varied results for 2009-10 as 'big five' remain static

    National and regional firms have produced the most movement in the top 50 this year, with a number of practices seeing sizable fluctuations in revenue and profits. The big five national firms - DLA Piper, Eversheds, Pinsent Masons, Addleshaw Goddard and Hammonds - remained static on their 2008-09 positions in the rankings after experiencing slight declines in turnover.

    1 minute read

  • July 14, 2010 |

    Asia takes centre stage as firms boost revenue in Eastern markets

    UK firms' footholds in Asia have proven their worth in this year's financial results with revenues from the region remaining consistently strong in their contribution to overall turnover. Clifford Chance (CC) in particular saw a notable contribution from its Asia arm, with revenues growing 21% on last year to £126m, up from £104m. The practice now makes up 10% of the firm's overall turnover, up from 8% in 2008-09.

    1 minute read

  • July 13, 2010 |

    Reed Smith recruits Pinsents partner quartet for London base

    Reed Smith has boosted its energy practice with the hire of four partners from Pinsent Masons. Construction partners Keith Hartley, Peter Cassidy, Vincent Rowan and Gordon Bell will increase partner headcount in the US firm's energy, trade & commodities group to 13. Hartley and Cassidy have already joined Reed Smith, but Rowan and Bell will remain at Pinsents while they serve their notice period, before joining the firm later this year after fulfilling existing commitments under the firm's partnership agreement.

    1 minute read

  • July 6, 2010 |

    Hammonds posts strong profits revival as PEP rises by 32%

    Hammonds has announced a 32% increase in profits per equity partner (PEP) as the firm becomes the latest to reveal its 2009-10 financial results. The UK top 30 firm saw profits increase to £364,000, up from last year's figure of £276,000, when PEP fell by 25%. Meanwhile, total turnover dropped by 6% over the financial year to a new mark of £117.8m.

    1 minute read