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  • May 15, 2008 |

    A&O resolves NY religious discrimination complaint

    Allen & Overy (A&O) has resolved a religious discrimination suit filed against the firm by a former New York associate. The magic circle firm confirmed that the claim - made against the firm by Norman Schoenfeld in December -was expected to close shortly.

    1 minute read

  • May 15, 2008 |

    Bird & Bird taps CMS for Madrid IP partner in bid for expansion

    Bird & Bird has bolstered its Madrid arm with the hire of a partner from the local network office of CMS. Miguel Rodriguez joined the firm last week from CMS Albinana & Suarez de Lezo, where he was the partner in charge of the intellectual property (IP), IT & media group.

    1 minute read

  • May 14, 2008 |

    Skadden secures €1.3bn rights issue role for Portuguese bank

    Skadden Arps Slate Meagher & Flom's London arm has advised Banco Comercial Portugues (BCP) on its €1.3bn (£1.03bn) rights issue. London capital markets partner James Healy led the Skadden team on the capital raising, which closed on 6 May. BCP, the largest Portuguese bank listed on the Euronext 100 index, has used Skadden on other corporate transactions in the past but has also turned to firms including Allen & Overy (A&O) and Freshfields Bruckhaus & Deringer.

    1 minute read

  • May 14, 2008 |

    Lovells arrows in on Rothschild corporate role

    Lovells has landed its first major corporate deal for Rothschild, advising the bank on its sale of Five Arrows Commercial Finance to GE Commercial Finance. The deal, which is for an undisclosed sum, saw Lovells private equity partner Tom Whelan head up the team. He was assisted by pensions partner Katie Banks and intellectual property partner David Latham.

    1 minute read

  • May 14, 2008 |

    Online special: Leaner market ushers in 'Darwinian' approach as staff turnover slows up

    Staff turnover of once-mobile junior lawyers is set to fall in response to the leaner commercial environment but associates aiming to stay put are likely to face tougher performance reviews. That is the message coming from the latest Legal Week Big Question survey, which found that nearly two thirds of respondents (62%) believe that current market conditions will see staff turnover fall, while a further 5% said it would fall 'drastically'. In contrast, only 13% thought that staff turnover was set to rise.

    1 minute read

  • May 14, 2008 |

    Herbies bags £300m B&B rights issue

    Herbert Smith and Freshfields Bruckhaus Deringer have snared the lead advisory roles on the £300m rights issue by UK lender Bradford & Bingley (B&B). Herbert Smith is advising B&B, with the top 10 City outfit fielding a team under corporate chief Michael Walter and fellow corporate partners Adam Levitt and Will Pearce. Also advising are tax partner Derek Hill, employment partner Paul Ellerman and US securities partner Adam Wells.

    1 minute read

  • May 12, 2008 |

    BLP toes City line with 4% pay rise

    Berwin Leighton Paisner (BLP) has introduced salary increases of between 4% and 6% for associates at the City firm. Associates with one year post-qualification experience (PQE) receive the biggest award, with a 6% increase taking their base pay from £66,000 to a new mark of £70,000.

    1 minute read

  • May 12, 2008 |

    Weil signs LPC deal with College of Law

    Weil Gotshal & Manges has signed a deal with the College of Law that will see the US firm's City trainees on the Legal Practice Course (LPC) receive bespoke training from the education provider. Under the terms of the deal, which takes effect from September 2009, Weil Gotshal's annual intake of trainees will spend two terms at the College in Moorgate before a final term studying the firm's bespoke electives.

    1 minute read

  • May 12, 2008 |

    A&O Italy loses corporate partner to bank

    Allen & Overy (A&O) has lost the former head of its Italian corporate department, with Paolo Cerina set to join Babcock & Brown. The M&A partner spent his final day with the firm last Friday (9 May) and joins the Australian investment bank in Milan.

    1 minute read

  • May 12, 2008 | International Edition

    Olswang ups pay but NQ rate stays flat at £62k

    Olswang has become the latest City firm to announce increases in its associate salaries, although rates for newly-qualified solicitors (NQs) at the top 30 UK outfit have been frozen at their current levels. Lawyers with one year post-qualification experience (PQE) will now pick up a minimum of £66,000 - up by £1,000 on last year and representing a hike of 1.5%.

    1 minute read