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  • December 1, 2009 |

    Weil Gotshal makes up just three to partnership as London misses out

    Weil Gotshal & Manges has announced a depleted partner promotions round, with just three lawyers set to join the partnership on 1 January 2010. No London-based lawyers will join the firm's partnership in this year's round, with the total of three promotions representing less than half of last year's tally, when seven were made up worldwide, including one in the City.

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  • November 3, 2009 |

    Cravath kicks off US bonus season with reduced awards

    Cravath Swaine & Moore has drastically cut back associate bonuses for its most junior lawyers as the firm this week became the first major US practice to reveal its hand, writes the New York Law Journal. Second-year associates will receive a $7,500 (£4,600) bonus, down from $17,500 (£10,700) last year, according to a memorandum obtained by the New York Law Journal. Senior associates at the leading Wall Street law firm will earn $30,000 (£18,400), the same as in 2008, but first-year associates, who earn $160,000 (£98,000) a year, will not receive a bonus.

    1 minute read

  • October 20, 2009 |

    Law firm management: Learning to lead

    Harvard started a revolution in leadership training for law firms in the 1990s. Alex Aldridge and Alex Novarese tell the story and assess what management training can offer

    1 minute read

  • October 15, 2009 |

    M&A pioneer and ex-Cravath lawyer Wasserstein passes away at 61

    Bruce Wasserstein, the most famous lawyer-turned-banker, has died at the age of 61. The former Cravath Swaine & Moore corporate lawyer died yesterday (14 October) after being taken to hospital with an irregular heartbeat at the weekend.

    1 minute read

  • October 7, 2009 |

    Links and Freshfields dominate Euro M&A but activity hits six-year low

    Linklaters and Freshfields Bruckhaus Deringer have dominated the battered European M&A markets over the first three quarters of 2009. Research from Mergermarket exclusively provided to Legal Week shows Freshfields topping the European rankings by value after working on 105 deals worth $127.9bn (£80bn). Linklaters tops the volume rankings and comes second by value, with roles on 116 deals worth $111.4bn (£70bn) in Europe.

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  • October 6, 2009 |

    Global 100: Emerging markets

    From Russia's grey gloom to Brazil's red-hot ambitions, a look at the state of five emerging legal markets

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  • October 6, 2009 |

    Global 100: The great game

    Soon after Simon Davies took over as Linklaters' managing partner at the end of 2007, he brought together a group of the firm's partners for some scenario planning. Turbulence in the subprime mortgage sector had not yet grown into a global economic downturn, but Davies knew that the legal services market was already changing. "We had been striving to run ourselves as efficiently as possible to deliver clear value to our clients and avoid increasing rates," he says. The purpose of the gathering was to run through some 'what-ifs,' determine how the firm would be affected, and consider how it would respond. Scenario three, the worst one under consideration, was the collapse of a major investment bank.

    1 minute read

  • October 5, 2009 |

    A&O recruitment drive continues with Skadden partner hire

    Allen & Overy (A&O) has made its second hire in the space of week after bolstering its London equity capital markets practice with a hire from a US rival. Robert Williams joins the magic circle firm's partnership today (5 October) from Skadden Arps Slate Meagher & Flom, where he has been a partner for ten years.

    1 minute read

  • October 1, 2009 |

    Citigroup now using alternative fees for one third of all work

    Citigroup now manages nearly a third of its external legal work under alternative fee arrangements, according to the banking giant's general counsel, Michael Helfer. Speaking at a panel debate last month, Citigroup's Helfer told a US audience that the bank now manages around 30% of its external legal work under alternative fees, mainly in the form of fixed or contingency fees.

    1 minute read

  • September 25, 2009 |

    Sullivan vs Harvard – and you thought campus recruiting was crazy in Blighty

    Everyone seems to agree that this is the craziest, most stressful recruiting season the US has seen in recent memory (and that's saying something). More top law schools have moved what used to be autumn interview dates into late August. That has led to much debate over whether the entire recruiting season should be pushed back into the middle of the academic year. US law firms, concerned about the economy, are trying everything to manage the size of their 2010 summer class, from making all their job offers on a single day (Skadden Arps Slate Meagher & Flom) to extending the offers on the spot at call back interviews.

    1 minute read