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  • May 18, 2011 |

    Norton Rose increases NQ pay and bonuses as Simmons holds rates

    Norton Rose has increased its newly-qualified (NQ) salaries to £60,000 from £59,000 and raised the lowest-level bonus rate from 2.5% to 5%. The top 10 City firm has opted to keep first-year trainee pay stable at £37,000 after reviewing salaries for this financial year, having increased trainee rates by 4% last year. Pay for the firm's more experienced associates is linked to the firm's merit-based model introduced three years ago.

    1 minute read

  • May 12, 2011 |

    Linklaters follows A&O with salary band freeze for associates

    Linklaters has opted not to increase its associate pay bands for the 2011-12 financial year. The announcement makes Linklaters the third magic circle practice to confirm its stance on associate salaries for the year ahead, and means that a lawyer with one year post-qualification experience (PQE) will earn £68,000 from 1 May, with £61,500 for newly-qualified associates.

    1 minute read

  • May 11, 2011 |

    A&O freezes associate salary bands after 'flat trading year' in UK market

    Allen & Overy (A&O) has opted not to increase its associate pay levels for the 2011-12 financial year. The firm's lawyers will continue to progress through the pay bands, although the current rates will remain unchanged. The firm said that the decision was based on a "flat trading year" in 2010-11.

    1 minute read

  • May 6, 2011 |

    Camerons set to advise Gianni on Credit Suisse negligence claim

    CMS Cameron McKenna has become the latest law firm to pick up an advisory role relating to the €136m (£120m) negligence claim against Linklaters by Credit Suisse. The City firm has been instructed to advise Italian independent Gianni Origoni Grippo & Partners, which faces a counter-claim by Linklaters stemming from advice the two firms gave on a bond deal with Italian food company Parmalat in 2001.

    1 minute read

  • May 5, 2011 | International Edition

    Slaughters announces details of new pay levels for associates

    Slaughter and May has marginally increased its associate salaries as of this month after delaying its biannual pay review due to recent public holidays. The firm, the first of the magic circle to announce its 2011 salaries, has opted for modest increases of between 1.5% and 3% for junior associates. Rates for trainees and newly-qualified lawyers remain unchanged; however, all lawyers will also continue to move through the lockstep as normal.

    1 minute read

  • May 5, 2011 |

    Slaughters announces details of new pay levels for associates

    Slaughter and May has marginally increased its associate salaries as of this month after delaying its biannual pay review due to recent public holidays. The firm, the first of the magic circle to announce its 2011 salaries, has opted for modest increases of between 1.5% and 3% for junior associates. Rates for trainees and newly-qualified lawyers remain unchanged; however, all lawyers will also continue to move through the lockstep as normal.

    1 minute read

  • May 5, 2011 |

    Links and Simmons lead on HMV but restructuring work remains subdued

    Linklaters and Simmons & Simmons have picked up lead advisory roles on the high-profile restructuring of entertainment retailer HMV. The deal, which sees Simmons advising HMV and Linklaters advising the company's banks, including Royal Bank of Scotland (RBS) and Lloyds Banking Group, is one of a handful of high-profile restructuring mandates so far this year, as advisers concede that the flood of administrations predicted at the height of the financial crisis has yet to materialise.

    1 minute read

  • May 4, 2011 |

    Mayer Brown adds partner to City regulatory team with BP hire

    Mayer Brown has strengthened its London financial services regulation & enforcement (FSRE) group with the hire of a senior regulatory lawyer from BP's in-house legal team. Mark Compton, who is joining the firm as a partner, has a particular focus on advising on market abuse, anti-money laundering, economic sanctions and bribery, as well as compliance with the US Foreign Corrupt Practices Act.

    1 minute read

  • April 21, 2011 |

    Charles Russell and Slaughters lead as Bahamas privatises telecoms operator

    Charles Russell and Slaughter and May have taken lead roles on the $210m (£128.5m) privatisation of the Bahamas' national telecommunications operator. The deal, completed on 6 April, will see the Bahamas Government sell a 51% interest in the Bahamas Telecommunications Company (BTC) to a wholly-owned subsidiary of Cable and Wireless Communications (CWC).

    1 minute read

  • April 21, 2011 |

    Trio of City firms lead on Battersea Power Station debt restructuring

    Ashurst, Clifford Chance (CC) and Linklaters are among a raft of firms to have advised on the £1.96bn debt restructuring of the ownership of Battersea Power Station. The deal will see the iconic power station transferred to a new holding company, with £437m of debt converted to equity. Ashurst took the lead role for the power station's owner, property company Real Estate Opportunities (REO), with a team led by corporate partner Nigel Stacey alongside finance partners Sarah Watkinson and Dan Hamilton and tax partners Richard Palmer and Simon Swann.

    1 minute read