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  • September 1, 2009 |

    Pinsents Hong Kong partner joins Lovells in Singapore

    Pinsent Masons has lost a partner in Hong Kong, with construction disputes specialist Paul Teo set to relocate to Singapore to join Lovells. Teo joins the top 10 UK law firm later this month, where he will be part of the infrastructure and construction group and the office's arbitration practice.

    1 minute read

  • August 11, 2009 |

    Mishcons finalises redundancy consultation with 16 staff laid off

    Mishcon de Reya has completed its second redundancy consultation with 16 people losing their jobs. The consultation, which concluded in July, has seen eight support staff lose their jobs alongside eight fee earners in the firm's corporate and real estate groups. No salaried partners were affected by the redundancies.

    1 minute read

  • August 4, 2009 |

    Five-year financial figures show elite UK firms maintaining growth despite tough 12 months

    The past five years have seen a dramatic period of growth for the UK's top 25 law firms, despite many suffering steep drops in profitability during the past financial year. Research by Legal Week shows that between 2003-04 and 2008-09, the top 25 UK law firms have averaged a 57.8% increase in turnover and a 38% increase in profits per equity partner (PEP), with turnover growing from an average of £262,820 in 2003-04 to its current figure £414,868. PEP, meanwhile, has risen from an average of £448,720 to £619,640.

    1 minute read

  • August 4, 2009 |

    Pinsents mulls over autumn partner cash call

    Pinsent Masons is considering asking its partners to contribute extra capital to the firm in an effort to shore up its finances. The national firm is currently consulting with partners about whether it should conduct a cash call in the autumn. It is also debating whether it should increase the amount of money partners are expected to contribute to the firm per equity point when they join the equity and as they move up through the lockstep.

    1 minute read

  • August 4, 2009 |

    Pinsents leads for HSBC on £200m MBO

    Pinsent Masons has taken a role advising HSBC Private Equity on one of the largest private equity deals in Europe so far this year. The firm was one of four national firms to secure a role on the management buyout (MBO) of offshore oil and gas mooring company Viking Moorings, with HSBC Private Equity buying the company from Inflexion Private Equity for around £200m.

    1 minute read

  • July 30, 2009 |

    Removing the human interference

    Do you want to know how your customer relationship management (CRM) database could do much of your marketing admin for you, as well as automatically ensure you target the right people with the right information at the right time and in the right way? Let's take a look at one contact in your CRM database. James is a good contact - he is in a position to instruct your firm, so he's someone you communicate with regularly.

    1 minute read

  • July 30, 2009 |

    National firms fall behind top 50 peers

    National firms have emerged as below-trend performers in the UK for a second year running, with reduced workflow resulting in widespread job cuts and plunging profitability in 2008-09. The top 10 national and regional firms saw turnover contract by 2.3% during the last financial year, compared with an increase of 10.4% in 2007-08, and revenue growth of just under 3% across the top 50 as a whole. Profits per equity partner (PEP) fell by 23.9%, against a marginal increase in PEP the previous year and a 17% drop across the top 50.

    1 minute read

  • July 30, 2009 |

    Twelve months in recession and more to come - top lawyers reflect on an uncertain market

    Top 50 leaders give their perspective on an extraordinary 12 months - and their expectations for the year ahead

    1 minute read

  • July 21, 2009 |

    The firm of the future

    The second quarter of 2008 was the first period for 16 years when the UK economy failed to grow. Since then, the onset of global recession has affected the vast majority of law firms, but the extent of that pain is only now being revealed as firms report their results for the last year.

    1 minute read

  • July 17, 2009 |

    LG sees 35% PEP drop with revenue down 10%

    LG has joined the ranks of firms announcing a drop in profits of more than 30%, with the City outfit seeing profits per equity partner (PEP) plunge by 35% against a 10% fall in revenue. Average PEP for 2008-09 stood at £281,000, down from £430,000 in 2007-08, while the firm posted revenue of £60.3m, down from a figure of £67.1m set during the previous year. The firm highlighted litigation as a strong performer, with revenues increasing by 10%, but said that corporate revenues had fallen significantly.

    1 minute read