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  • March 25, 2009 |

    Magic circle tag still works its magic

    The magic circle brand continues to hand a major advantage to the firms in the club despite doubts about whether the five law firms really deserve their celebrated status.According to Legal Week's latest Big Question poll, an overwhelming majority of partners believe the magic circle brand adds value to the firms given the tag. Thirty-one percent believed the magic circle brand added to the firms' value 'very much', while a further 52% said the name added 'a considerable amount'. Only 2% of the poll of 174 respondents believed it added nothing.

    1 minute read

  • March 23, 2009 |

    - 2009 Partnership Round: a Legal Week Wiki special -

    Welcome to Legal Week's 2009 partner promotions round-up. Here you'll find all the latest news stories about partner promotions gathered in one place, as well as links to relevant blog entries and any other bits and pieces we think might be of interest.

    1 minute read

  • March 20, 2009 |

    Slaughters racks up £9m in Northern Rock fees

    Slaughter and May has billed more than £9m in fees for its work advising the Treasury on the nationalisation of Northern Rock, according to figures published today by the National Audit Office. The figures reveal that Slaughters has picked up £9.4m since being selected by the Government in September 2007 - almost double the £4.8m in fees racked up by investment bank Goldman Sachs.Clifford Chance, meanwhile, has made £2.4m since being hired by the Bank of England to provide legal advice on the nationalisation.

    1 minute read

  • March 19, 2009 |

    Students rate CC and A&O as most prestigious firms in new study

    Clifford Chance (CC) has inched past Allen & Overy (A&O) to be named the UK's most prestigious law firm in a major study of law student perceptions about graduate recruitment.The two firms emerge as clear brand leaders in the survey of more than 2,500 students at Russell Group Universities and Graduate Diploma in Law (GDL) course providers.Predictably, magic circle rivals Linklaters, Slaughter and May and Freshfields Bruckhaus Deringer make up the rest of the top five in a league table dominated by international law firms, although the level of brand recognition enjoyed by firms in the bottom half of the table tails off significantly.

    1 minute read

  • March 18, 2009 |

    Management: Betting on the big four

    The big four magic circle firms (Allen & Overy, Clifford Chance, Freshfields Bruckhaus Deringer, Linklaters) have had an incredible run over the past 15 years. All of them achieved the benchmark of extraordinary success for a large law firm - profits per equity partner (PEP) near or over $2m (£1.4m) and gross revenues of around $2bn (£1.4bn). What made their success all the more impressive was that in the early 1990s their standing was less than 'magical' relative to premier US firms. As much as these firms achieved over these last 15 years, the current economic crisis raises real questions about how they will fare in the future.

    1 minute read

  • March 17, 2009 |

    BAA signs up Amey legal chief as new GC

    BAA has appointed a new general counsel, with Carol Hui taking up the role. Hui joins from construction giant Amey, where she had been general counsel and executive director for nine years. Prior to that, Hui was part of the in-house legal teams at British Gas and TDG. She launched her legal career with Slaughter and May in Hong Kong as a member of the firm's corporate finance department.The destination of Hui's predecessor as BAA GC, Robert Herga, is as yet unconfirmed.

    1 minute read

  • March 12, 2009 |

    BLG replaces Dickinson Dees on Carillion panel

    Addleshaw Goddard, Barlow Lyde & Gilbert and Kennedys have all won spots on support services and construction company Carillion's new legal panel. Addleshaws has been appointed to advise on private finance matters, with Barlows brought in for construction advice and Kennedys for insurance matters. Kennedys' appointment comes after the firm's insurance team moved over from DLA Piper last year.

    1 minute read

  • March 11, 2009 |

    Dealmaker: James Palmer

    After a stand-off over the cheese question, Herbert Smith M&A heavyweight James Palmer hits Dealmaker

    1 minute read

  • March 9, 2009 |

    Links and Slaughters lead on Lloyds bailout deal

    Linklaters and Slaughter and May have won lead advisory roles as the Lloyds Banking Group signs up to the Government's Asset Protection Scheme, in a deal that could gift the Government a stake of up to 77% in the bank. Linklaters has been brought in to advise longstanding client Lloyds as it transfers around £260bn of toxic assets - the majority of which relate to HBOS - to the Government and restructures the Government's stake in the bank.London corporate partners Jeremy Parr and Matthew Bland and capital markets partner Jim Rice have taken the lead roles on the transaction, which will see the bank pay the Treasury £15.5bn once it joins the asset protection scheme.

    1 minute read

  • March 4, 2009 |

    Genworth Financial European in-house legal team grows to 22 lawyers

    Genworth Financial is set to boost its in-house legal team with plans to expand capacity in Europe and review its outside counsel. The US insurance company is looking to add a commercial lawyer in Italy and a compliance specialist in Scandinavia, with one further lawyer set to join from GE Capital. The hires, which will take the team from 19 lawyers to 22 - including 10 in the UK - follow the January appointments of Miguel Munoz Gaztanaga from Lovells in Spain and Guillaume Lachaud in France.

    1 minute read