All City articles – Page 90
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News
Lehman administration racks up £2.5bn services bill
Professional services firms have billed more than £1.9bn to wind up investment bank Lehman.
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NewsRegulatory system 'dysfunctional' - City lawyers
The City of London Law Society says the cost of regulation is close to getting out of control.
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NewsCity lawyers warn against lobbying register
The City of London Law Society has told ministers they risk creating more red tape if they impose regulation on the lobbying sector.
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NewsMaternity leave claims on the increase
Employment lawyers are seeing an increase in the number of maternity leave discrimination claims.
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NewsPEP up 10% at Baker & McKenzie
Profit per equity partner (PEP) rose 10% to $1.2m (£774,000) last year at global firm Baker & McKenzie. Net profits grew 9% to $862m (£553), on turnover up 5% to $2.419bn (£1.56bn), according to the firm’s financial results for the year ended June 2013. Eduardo Leite, chairman, said profit and ...
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NewsMagic circle ‘must adapt to changes’
Magic circle firms must innovate to adapt to a permanently changed legal market, warns Baring GC
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NewsCity clashes with judiciary over budgeting exemption
City lawyers are at loggerheads with the senior judiciary over mandatory costs budgeting
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NewsFirms expand in Asia Pacific as new business blossoms
International firm DLA Piper expects Asia Pacific to represent one-third of its future business outside the UK, managing partner Tim Clement-Jones told the Gazette this week. ‘It is incredibly important – it’s not yet one-third of the business.
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Magic circle retention rates hold up
Magic circle firm Clifford Chance has retained 48 of 62 trainees, a retention rate of 77%, it revealed this week, in a clutch of announcements of trainee retention figures at City and international firms.
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Female partner boost at magic circle
The number of women promoted to partnership at magic circle firms has risen by 50% - but they still make up just a quarter of all the promotions. A total of 95 solicitors were this week elected to partnership at the leading five firms. Of these, 24 were women - ...
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Survey: in-house woe for magic circle
Pressure on corporate legal budgets eased in 2011, but that failed to halt a three-year decline in the use of magic circle firms. Legal departments instead chose to increase their own headcount, and to make greater use of UK mid-tier law firms, other international firms, the bar and niche firms.
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News
Magic circle firms post solid results
Three magic circle firms have posted steady but unremarkable financial results as testing market conditions continue to prevail. Freshfields Bruckhaus Deringer, Linklaters and Allen & Overy all released figures for the 2010/11 financial year. At Freshfields, revenue fell marginally on the previous year, with profits per equity partner down by ...
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News
Slaughter and May becomes latest magic circle firm to freeze pay
Slaughter and May has become the fourth member of the magic circle to freeze pay for all staff. The firm’s announcement today (2 April) comes three days after Clifford Chance announced it will freeze pay. Fellow magic circle firms Allen & Overy and Freshfields announced pay freezes earlier this year. ...
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Magic circle firms defer partner promotions
Magic circle firms Allen & Overy and Clifford Chance will defer announcing their partnership promotions for 2009 pending completion of their restructuring programmes. The two firms are the only magic circle firms still to announce partner promotions this year. Yesterday (6 April), Linklaters announced it will promote 18 to its ...
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Concern as magic circle firm culls partners
The head of an influential alliance of corporate general counsel has expressed concern at the soaring tally of City firm redundancies, as Clifford Chance became the first magic circle firm to announce it will cut partners. Peter Maynard, legal director and company secretary at Prudential and chair of GC100, which ...
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News
Magic circle target $1bn Indian market
A number of magic circle, ‘top 50’ and specialist boutique firms are on the brink of signing deals to outsource legal work to India, according to legal process outsourcing (LPO) company CPA Global. Chris Veator, executive vice president at CPA North America, told the Gazette that the company plans to ...
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News
Crisis set to spur consolidation
The collapse of Lehman Brothers amid turmoil on Wall Street will provide rich pickings for top firms but spell tough times for the rest, analysts have warned.
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Law firms eye up Syrian market
Law firms, financial services providers and insurance companies are sizing up the Syrian business market as the government makes moves to open up to foreign investment, the Gazette has learned.