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  • November 28, 2013 |

    Return of the independent – how independent law firms are outperforming global rivals in Germany

    It is 23 years since international firms were first allowed to practise local law in Germany. Glance down the list of today's top 20 German firms (by number of lawyers and by revenue) and 75% of them are familiar magic circle names and Wall Street powerhouses, supplemented by a range of UK and US firms with global ambitions. It goes deeper: of the top 50 firms, barely a third are independent. But something interesting has been happening in Germany – from Frankfurt to Stuttgart, the independents are fighting back. Recent data shows that independent firms' annual revenues have increased by 6%-7%, the best figures among independents in all European jurisdictions, while their international counterparts have flatlined. Andreas Urban, managing partner at mid-size independent Heuking Kuhn, says: "There is stagnation among the top law firms – if you look at the top 10, many of them have relatively low growth rates, very flat. A lot of firms below that are developing higher growth rates. There is a shift by clients going to these firms."

    1 minute read

  • November 24, 2013 |

    Magic circle duo land lead roles on China insurance deal

    Slaughter & May is acting opposite Freshfields Bruckhaus Deringer on Swiss Re's US$493m acquisition of 4.9% stake in China's third biggest life insurance company. The deal, which closes today, is part of a wider initiative by Swiss Re to tap China's burgeoning life insurance market, which is thought to rank number five in the world.

    1 minute read

  • November 21, 2013 |

    Gide, Norton Rose Fulbright and Bakers among firms winning spots on Credit Agricole's global roster

    Gide Loyrette Nouel, Baker & McKenzie and Norton Rose Fulbright are among a number of firms to have been appointed to Credit Agricole's global legal panel, following a competitive tender process led from Paris. The review concluded in the last few weeks after firms were invited over the summer to pitch for a slot on the roster. Other law firms understood to have been appointed include Ashurst, Hogan Lovells and Linklaters.

    1 minute read

  • November 21, 2013 |

    African Legal Awards 2013: who won what – and why...

    Two hundred lawyers gathered at the African Legal Awards in October to celebrate the achievements of the continent's leading business lawyers. The ceremony was hosted by Legal Week in association with the Corporate Lawyers Association of South Africa (CLASA) and featured leading South African investigative journalist Derek Watts in the role of master of ceremonies.

    1 minute read

  • November 21, 2013 |

    Stronger economy and healthy half-year revenues fuel confidence boost at top firms

    Buoyed by a surge in transactional activity and a stronger economic outlook, business confidence among partners at the top law firms is at its highest point for several years. Results of Legal Week's latest Big Question survey show 94% of partners expect to see revenues climb at their own firm over the next 12 months, while just 4% anticipate a drop in turnover and 2% think it will remain static. Partners also expect revenue across the UK top 50 as a whole to grow in the coming year, with 50% predicting combined revenues will increase by up to 5%. Just 6% of respondents are anticipating a fall in revenue across the group, while 14% believe average turnover will be static. Almost three out of ten are even more optimistic and expect revenues across the group to grow by between 5% and 10%.

    1 minute read

  • November 21, 2013 |

    Elite firms line up on $11bn stock exchange M&A deal

    A clutch of firms including Shearman & Sterling, Sullivan & Cromwell, Slaughter and May and Wachtell Lipton Rosen & Katz have advised on IntercontinentalExchange's $11bn (£7bn) acquisition of NYSE Euronext.

    1 minute read

  • November 19, 2013 |

    Slaughters, A&O among firms on Bank of Tokyo-Mitsubishi's debut panel

    Slaughter and May, Allen & Overy and Linklaters are among a raft of firms to have won a spot on The Bank of Tokyo-Mitsubishi UFJ (BTMU) first ever legal panel. The panel covers Europe, the Middle East and Africa and is split into a preferred firms' panel and a transactional panel.

    1 minute read

  • November 14, 2013 |

    Trainee retention rates at UK top 10's HK bases remain high as firms continue to invest in Asia

    Trainee retention rates at the Hong Kong offices of the UK's top 10 law firms have remained broadly static on last year as firms continue to invest in Asian markets, despite a comparatively uncertain year for the local economy. Ninety percent (55 out of 62) of newly qualified lawyers (NQs) at the UK's top firms in Hong Kong were offered jobs this September, all of whom accepted, according to research by Legal Week.

    1 minute read

  • November 7, 2013 |

    Slaughters consults over flexible working plans

    Slaughter and May is consulting over proposals to set up flexible working arrangements for partners and associates. The elite firm is discussing options with partners and reviewing the ways in which remuneration might be adjusted to factor in reduced working hours.

    1 minute read

  • November 7, 2013 |

    The Transfer Window: recent moves including Taylor Wessing, Slaughters and Osborne Clarke

    The Transfer Window is a regular round-up of recent legal moves in the UK and abroad. Please send all announcements to [email protected].

    1 minute read