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  • March 22, 2007 |

    M&A boom sees Wall St elite set $3m PEP benchmark

    Average partner profits of $3m (£1.5m) have become the benchmark for top US firms, Legal Week can reveal, after a record year for M&A helped a handful of New York firms maintain their lead in the profession's global profits race. Manhattan M&A powerhouse Wachtell Lipton Rosen & Katz is top of the list with 2006 profits per equity partner (PEP) just below $4m (£2m), while Cravath Swaine & Moore's PEP rose 13% to hit $3m (£1.5m).Sullivan & Cromwell achieved a PEP figure of $2.8m (£1.4m), level with Cadwalader Wickersham & Taft. Skadden Arps Slate Meagher & Flom, America's largest law firm, broke the $2m (£1m) PEP barrier after a 16% rise.

    1 minute read

  • March 21, 2007 |

    CC in driving seat on Aston Martin buy-out

    Clifford Chance (CC) and Skadden Arps Slate Meagher & Flom have secured roles on the £479m acquisition of iconic sports car company, Aston Martin from Ford.

    1 minute read

  • March 14, 2007 |

    Milbank, Willkie and Skadden win big on multibillion-dollar casino buy-out

    New York trio Milbank Tweed Hadley & McCloy, Willkie Farr & Gallagher and Skadden Arps Slate Meagher & Flom have all bagged lucrative roles on the latest multibillion-dollar gaming industry deal. Milbank and Willkie advised Fertitta Colony Partners (FCP) as it forked out $8.8bn (£4.6bn) to purchase Station Casinos, which instructed Skadden.

    1 minute read

  • March 7, 2007 |

    Impatient clients aggravate long hours work toll, partners warn

    Impatient clients are subjecting their advisers to unnecessary levels of stress and most are totally unconcerned about the number of hours they work, new research suggests. The latest Legal Week/EJ Legal Big Question survey, which comes as the debate regarding quality of life at top City firms intensifies, found that 56% of respondents felt under undue pressure from clients either 'all the time' or 'often'.

    1 minute read

  • March 7, 2007 |

    Carbon-fire of the vanities

    The Diary got a rare glimpse the other day of why some firms are suddenly so willing to go carbon neutral. As you can guess, it's not all about saving the whales, pandas or even preserving the snow in Aspen for those skiing trips so beloved of Skadden Arps Slate Meagher & Flom.

    1 minute read

  • February 16, 2007 |

    Profits surge at Shearman but fee income static

    Shearman & Sterling has unveiled a robust increase in partner profits for 2006, although turnover at the New York firm remained static. Profits per equity partner were up by 12% to $1.65m (£842,000) from a figure of $1.48m (£752,000) in 2005. However, turnover inched up by just 1% to reach $842m (£429m).

    1 minute read

  • February 7, 2007 |

    Skadden's City arm seals £1.3bn bond double

    Skadden Arps Slate Meagher & Flom has advised insurance and financial products giant Generali Group on two major bond issues worth a combined value of £1.3bn - the biggest piece of work the firm's London office has done for the client. Skadden London finance partner James Healy led the team on the deal which saw Generali issue two bonds worth €1.25bn (£827m) and £495m. Generali will use the proceeds to repay outstanding debt under a financing agreement for the acquisition of Italian insurer Toro Assicurazioni.

    1 minute read

  • February 1, 2007 |

    Skadden counsel joins Freshfields as partner

    Freshfields Bruckhaus Deringer has bolstered its Paris office with the hire of Skadden Arps Slate Meagher & Flom European counsel David Revcolevschi, who joins as a partner. Revcolevschi joins Freshfields from the US firms local arm and becomes the seventh partner in Freshfields Paris corporate group. He had been at Skadden since 1999 and specialises in capital markets and public M&A.

    1 minute read

  • January 31, 2007 |

    Bar welcomes end of fees 'anachronism'

    Barristers are celebrating the news that payday is set to become a more regular fixture. After almost a decade of negotiation and stalled talks, the Law Society and Bar Council have struck an historic deal to make arrangements for paying barristers contractually binding by this October.

    1 minute read

  • January 31, 2007 |

    Cadwalader hit by Skadden competition raid

    Cadwalader Wickersham & Taft has been hit by the departure of a three-partner competition team - including its practice group head - to New York rival Skadden Arps Slate Meagher & Flom.

    1 minute read