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  • February 11, 2009 |

    Graduate law jobs to defy downturn with 2009 rise

    The number of graduate positions in the legal profession is set to increase during 2009, despite a widespread drop-off in opportunities across a host of other industries, new research has revealed. According to the Graduate Recruitment Survey 2009 Winter Review, compiled by the Association of Graduate Recruiters (AGR), the number of graduate positions in the legal sector is likely to rise by 2%.The projected increase is in contrast to a number of other industries that are likely to see a decline in opportunities in the coming 12 months. The banking and financial services sector is predicted to see a decrease in graduate jobs of 10.7%, while investment banking and fund managers are set to be the hardest hit with a drop of 28%. Across the board, vacancies are expected to decline by 5.4%.

    1 minute read

  • February 5, 2009 |

    Editor's comment: That Davos dividend

    Some of the US's banking titans are not there, and many of President Barack Obama's top advisers and cabinet members have taken a pass, but a handful of lawyers were rubbing shoulders with the great and the good last weekend at the World Economic Forum in Davos, Switzerland. Mingling with the likes of Russian Prime Minister Vladimir Putin and Chinese leader Wen Jiabao were partners from Clifford Chance (CC), Freshfields Bruckhaus Deringer, Baker & McKenzie and Covington & Burling.

    1 minute read

  • February 5, 2009 |

    City boutique brushes up alongside US trio on $400m haircare buyout

    Cravath Swaine & Moore, Jones Day, Baker & McKenzie and London boutique Wallace have been handed roles on the $411.5m (£288m) sale of haircare business TIGI to consumer products giant Unilever. The deal gives Unilever its first entry into the salon hair-care market, with brands such as Bed Head and S-Factor. Cravath advised Unilever on the US corporate aspects of the deal, fielding a team led by New York corporate partner Peter Wilson and tax partner Michael Schler.

    1 minute read

  • January 28, 2009 |

    Switzerland: An island of calm

    In a country renowned for its banking prowess, the financial turmoil of the last months has been keenly felt in Switzerland. While the financial haven is proving less than rosy for many bankers with two of its major institutions, UBS and Credit Suisse, both caught up in the financial storm, Switzerland's legal elite has a more positive story to tell.For many of the country's main firms, the crisis has meant an inflow of lucrative instructions, landing roles in the wake of the collapse of Lehman Brothers - with its plentiful Swiss creditors - for example, or on one of the many reorganisations within Swiss banks.Several of Switzerland's largest firms, including Lenz & Staehelin, Baer & Karrer, Homburger and Schellenberg Wittmer, credit the banking crisis with a major upturn in work in the region."It is clear that last year was dominated by the financial crisis. It has taken a lot of our time and made us quite busy," says Homburger managing partner and co-head of M&A Heinz Schaerer.

    1 minute read

  • January 28, 2009 |

    Switzerland: Code breaking

    It is a popular view that Swiss bank secrecy attracts undeclared, illegal money - that it exists only for this purpose and that the need for its removal is self-evident. Many believe that the first steps to achieve this have been successfully taken, with the US Justice Department's attack on UBS. However, first a reminder before you read on: in 1934 Switzerland enacted specific legislation to make divulging bank secrets a criminal offence, partly in response to a law introduced by Adolf Hitler that any German with foreign capital should be put to death.

    1 minute read

  • January 28, 2009 |

    Strength in numbers

    There are some people in this world who live life to the full and others who do not know when to say 'no'. I am trying to decide if I fall into the former or the latter. As a US securities partner at Simmons & Simmons, one would think that my day job keeps me occupied enough. In truth, it does, and then some. However, I think when you have a passion for something, that energy can be channelled to accomplish even more. Over the past few years I have been involved in two exciting projects, one rooted in the familiarity of US securities law and the other involving a journey into the realm of equality and diversity which has been unexpected, demanding and very rewarding.

    1 minute read

  • January 28, 2009 |

    Brazilian mining GC makes private practice move

    The general counsel of Brazilian mining company Vale has moved back to private practice, joining Latin-American law firm Veirano. Pedro Aguiar de Freitas will take up his new position at the beginning of February after spending six years in-house at Vale. He has also worked as general counsel of Brasil Telecom and as senior counsel at the International Finance Corporation.The move marks de Freitas's return to the firm where he started his career more than 20 years ago, which was then the Rio de Janeiro office of Baker & McKenzie.

    1 minute read

  • January 27, 2009 |

    Ashurst to lay off up to 15 staff in latest cuts

    Ashurst has entered into a redundancy consultation with a number of its London-based support staff. The firm has kicked off a consultation within the last two weeks, with around 15 secretarial positions in London at risk. The consultation, which mainly affects float secretaries and staff on night shifts, is expected to conclude in February. The top 10 City firm confirmed the talks in a statement saying: "We are in the course of a consultation process to make a small number of secretaries redundant in accordance with business needs."

    1 minute read

  • January 26, 2009 |

    Beachcroft lands Orange role after panel review

    Orange UK has completed a review of its legal advisers, with Beachcroft among the firms to win a place on the telecoms company's newly-expanded roster. The review, Orange's first in three years, sees the company increase its number of advisers to 13. Other new firms added to the panel include regional firm Ward Hadaway and Northern Ireland's Worthingtons.

    1 minute read

  • January 23, 2009 |

    Bakers lays off 20 legal staff from London office

    Baker & McKenzie has cut 20 legal positions in London with the firm also set to review its support function. The firm confirmed today (23 January) that 20 London-based legal staff have lost their jobs, with the redundancies affecting a number of associates and paralegals. It is understood that the cuts affect a number of practice areas, including corporate.In addition, the firm has launched a separate review of its secretarial and support services which could result in job losses. No formal redundancy consultation has been launched and the review is set to last several months.

    1 minute read