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  • October 12, 2011 |

    Global 100: Empire builders - does globalisation equal profit?

    Since the early days of the Global 100 survey, globalisation and profit have seemingly grown hand in hand. For the top 50 firms in 1999 – the first year that The American Lawyer published profits per equity partner (PEP) for what was then the Global 50 – the proportion of lawyers employed outside each firm's home country doubled, while PEP more than doubled. But whether there is a causal relationship between global expansion and financial success is unclear, whether one charts the performance of individual firms in a single year or over time. Star performers may be found among the most stubborn homebodies, like Slaughter and May, and the most persistent imperialists, like Allen & Overy (A&O).

    1 minute read

  • October 12, 2011 |

    Clydes, Mishcons and A&O head up nominees for Firm of the Year at British Legal Awards

    Clyde & Co, Allen & Overy (A&O) and Mishcon de Reya are among the firms shortlisted for Law Firm of the Year at the 2011 British Legal Awards. The trio have been nominated for the coveted award alongside Hogan Lovells, Kirkland & Ellis and Stephenson Harwood. A&O and Hogan Lovells have also both been nominated for the M&A Team of the Year Award, alongside magic circle duo Slaughter and May and Freshfields Bruckhaus Deringer and US firms Shearman & Sterling and Skadden Arps Slate Meagher & Flom.

    1 minute read

  • October 12, 2011 |

    Global 100: Strong dollar helps US leaders set the pace as City firms face fierce competition

    Rising profits at expansive US law firms and continued weakness in sterling look set to sustain competitive pressure on globally ambitious UK firms for years to come, according to new research. This year's Global 100 – a joint initiative from The American Lawyer and Legal Week – shows leading US players gaining a stronger grip on the upper echelons of the profession globally, based on both profitability and fee income. The three largest law firms in revenue terms are either US-based or the result of unions structured through vereins – with Baker & McKenzie, Skadden Arps Slate Meagher & Flom and DLA Piper topping the income rankings.

    1 minute read

  • October 12, 2011 |

    Partners want more Govt promotion of legal profession's contribution to economy

    Senior lawyers remain unconvinced that the Government is doing enough to support UK legal services, despite justice secretary Kenneth Clarke's recent pledge to 'go into bat' for the industry. Legal Week's latest Big Question survey found that 59% of respondents believe the industry receives 'not much' or no support from the Government. Only 7% of respondents said the industry receives a considerable amount of support or more, while 34% believed that they received 'a little' support.

    1 minute read

  • October 10, 2011 |

    Slaughters and A&O lead on £472m private equity credit card sale

    Slaughter and May and Allen & Overy (A&O) are leading a four-firm line-up advising on the £472m private equity sale of credit card provider SAV Credit to investment manager Vaerde Partners. Slaughters advised SAV owner Palamon Capital Partners on the sale, with London corporate partner David Wittmann leading a team that also included tax partner Graham Iversen.

    1 minute read

  • October 6, 2011 |

    Network Rail recruits new legal chief with hire of Premier Foods GC

    Premier Foods general counsel Suzanne Wise is set to leave the FTSE 100 company to take up the same role at Network Rail. The move, which follows the departure of Network Rail's group company secretary Hazel Walker at the end of September, will see Wise start as general counsel at the rail operator in early 2012.

    1 minute read

  • October 5, 2011 |

    Top 50 German law firms post 8% hike in fees in 2010-11 but eurozone fears dampen mood

    CMS Hasche Sigle has overtaken Hengeler Mueller to emerge as the largest German law firm by revenue, with the 10 largest firms in the country seeing an average revenue rise of 4% during their last financial year, according to new research. The rankings, compiled by German legal publication Juve, show Freshfields Bruckhaus Deringer retaining its position as the largest law firm in Germany with turnover of €334m (£286m), while CMS Hasche Sigle has passed Slaughter and May ally Hengeler with 3.9% revenue growth to rank second with revenues of €212m (£182m).

    1 minute read

  • September 29, 2011 |

    Slaughters to lead top-level review of English rugby's governing body

    Slaughter and May has been instructed by the Rugby Football Union (RFU) to undertake a review of its corporate governance amid intense media scrutiny of the top levels of English rugby's governing body. The review, which will be led by Slaughters corporate partner Nigel Boardman, will aim to assess the effectiveness of current practice at the RFU, in particular the relationship between its board of directors and council.

    1 minute read

  • September 28, 2011 |

    LG boosts finance with Squire Sanders Hammonds partner hire as litigation trio exit

    LG is expanding its finance practice through the hire of Squire Sanders Hammonds partner Iain Shurwood, with the addition coming as the UK firm prepares to lose a trio of litigation partners. Shurwood will join LG next month, having been a partner at legacy Hammonds since 2008. He was previously a senior associate at Denton Wilde Sapte, which merged with US law firm Sonnenschein Nath & Rosenthal in September last year.

    1 minute read

  • September 28, 2011 |

    Trio of LG financial litigation partners quit to join DLA Piper

    LG is set to lose a trio of financial litigation partners to DLA Piper in London. Jeremy Andrews, Jean-Pierre Douglas-Henry and James Curle handed in their notice earlier this month and are set to join DLA Piper after serving out some or all of their six-month notice period.

    1 minute read