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  • June 1, 2010 |

    Wages of spin - the rise of salaried partners

    When it comes to employment prospects at the UK's leading law firms, the global recession has been the bloodiest period in recent memory. There is, however, one category of senior lawyer whose ranks have swelled dramatically - that of the salaried partner. Legal Week research reveals that collectively the top 30 UK law firms added 435 lawyers to their non-equity partner headcount between 2007 and 2009. Far from reflecting a profession in rude health, however, this phenomenon is a direct result of the fight by leading law firms to manage their way through the recession.

    1 minute read

  • June 1, 2010 |

    Three-year decline in equity ranks boosts partner profits by £26k

    Rising numbers of salaried partners at the UK's leading law firms have inflated partner profits by an average of £26,000 across the top 30, according to Legal Week research. Alongside contracting equity ranks, profits per equity partner (PEP) at the UK top 30 firms would have stood at an average of £26,000 less in 2009 if the proportion of salaried partners had remained at 2007 levels.

    1 minute read

  • May 26, 2010 |

    Ashurst and A&O advise on RBS sale of European factoring businesses

    Ashurst and Allen & Overy (A&O) have taken roles on Royal Bank of Scotland's (RBS) European disposal programme, as the bank sold its factoring businesses in both France and Germany. In France, the issue share capital of RBS Factor has been sold to financial services company GE Capital, while a similar deal completed at the end of March saw the General Electric subsidiary buy out RBS' German business, RBS Factoring.

    1 minute read

  • May 19, 2010 |

    Citigroup names 'golden nine' line-up of UK firms in two-tier EMEA panel

    Citigroup has overhauled its external legal arrangements, creating two new panels of preferred law firms. The banking giant has unveiled new panels of advisers in the Europe, Middle East and Asia (EMEA) region and the US, formalising its previous roster of law firms.

    1 minute read

  • May 12, 2010 |

    Revenue dips at leading UK firms but market remains bullish on recovery

    A substantial number of the UK's leading law firms are set to post falling revenues for 2009-10, but partners are remaining upbeat after a year that has turned out better than many had predicted. Early indications of the 2009-10 financial results for the UK top 50 suggest that a majority of firms will see revenues remain flat or marginally down on 2008-09 in the aftermath of the recession.

    1 minute read

  • May 12, 2010 |

    Ken Clarke named as surprise justice secretary in new Government

    Kenneth Clarke has been appointed Lord Chancellor and Secretary of State for Justice as incoming prime minister David Cameron forms his first cabinet. Details are emerging of the Conservative-Liberal Democrat coalition Government, with key cabinet posts confirmed so far including Clarke as the UK's new Justice Secretary, replacing the outgoing Labour minister Jack Straw.

    1 minute read

  • May 10, 2010 |

    Student round-up: Coventry Uni unveils sports law course; Ashurst signs UAE law school deal

    Coventry University is launching a new postgraduate certificate in sports law. The one-year programme will run for the first time from October 2010, and will be delivered at Coventry University's new London campus located in East India House in the City of London. The course, which will cost around £3,000, is open to anyone with an LLB or GDL qualification or to non-legally qualified individuals with significant experience in the sports world.

    1 minute read

  • May 5, 2010 |

    K&L Gates and Addleshaws lead on £40m sale of Blackpool attractions

    K&L Gates and Addleshaw Goddard have taken lead roles on the £40m sale of Blackpool Tower and a number of other local attractions to Blackpool Borough Council. K&L Gates' City arm advised long-term client Leisure Parcs on the sale of assets including the Tower, the Golden Mile amusement arcade, Louis Tussaud's Waxworks and the Winter Gardens entertainment complex to the town's council, taking them into public ownership for the first time.

    1 minute read

  • April 30, 2010 |

    Olswang competition partner joins Fried Frank's London base

    Fried Frank Harris Shriver & Jacobson has turned to Olswang for its latest partner hire, bringing in competition specialist Alasdair Balfour. Balfour, who has been a partner at Olswang since 2007, will join the US firm in London on 1 May as the office's first antitrust and competition partner since Craig Arnott returned to Australia last June, working with two associates.

    1 minute read

  • April 29, 2010 |

    Taylor Wessing signs up Ashurst partner for Munich office

    Taylor Wessing has hired partner Manja Epping from Ashurst to bulk up its life sciences and healthcare group in Munich. Epping trained with Taylor Wessing in the early 1990s before leaving for Ashurst in 2002. She will rejoin the firm as a partner as of 3 May.

    1 minute read