The Hemscott rankings of legal advisers to FTSE 100 companies has revealed Linklaters and Slaughter and May as the firms currently advising the highest number – 25 – of the UK’s biggest companies.
The rest of the top five is rounded out by Herbert Smith (which saw its FTSE 100 client count drop one from 19 to 18, as it is no longer listed as an adviser to Friends Provident), Allen & Overy (A&O) and Freshfields Bruckhaus Deringer. Freshfields recently gained two top-ranked clients – the London Stock Exchange Group and Wolseley – and is now running head to head with A&O, with 17 FTSE 100 clients.
Showing posts with label uk. Show all posts
Showing posts with label uk. Show all posts
November 3, 2010
Clifford Chance elections approaching
Clifford Chance will soon embark on a series of senior leadership elections. David Childs is expected to stand for re-election as the firm’s managing partner. If he is successful, his second four-year term at the firm’s helm would begin in May 2010.
Other management positions soon to be up for grabs include London managing partner, general counsel and practice head roles for real estate and tax, pensions and employment.
Clifford Chance is reportedly also reviewing the position of global litigation and dispute resolution head, which became redundant after the May departure of Mark Kirsch to join global player Gibson Dunn & Crutcher.
Other management positions soon to be up for grabs include London managing partner, general counsel and practice head roles for real estate and tax, pensions and employment.
Clifford Chance is reportedly also reviewing the position of global litigation and dispute resolution head, which became redundant after the May departure of Mark Kirsch to join global player Gibson Dunn & Crutcher.
Herbert Smith raises bar on partner performance
Herbert Smith has switched its former ‘make a difference’ initiative for partner appraisals to more formal assessments on their performance, in a bid to place more emphasis on the firm’s international ambition.
The new system will include formal feedback from partners in international offices for the first time and assessments on matters such as cross-selling between offices. Partners will also be assessed annually against four distinct areas: client skills, technical skills, people skills and how their performance fits with the firm’s strategy.
The move to monitor partner performance more closely follows a change in the firm’s associate appraisal process made earlier this year. It is a definite step away from the consensual approach introduced in 2007 by senior partner David Gold, clearly sending the message to partners that the expectations upon them will be rising.
The new system will include formal feedback from partners in international offices for the first time and assessments on matters such as cross-selling between offices. Partners will also be assessed annually against four distinct areas: client skills, technical skills, people skills and how their performance fits with the firm’s strategy.
The move to monitor partner performance more closely follows a change in the firm’s associate appraisal process made earlier this year. It is a definite step away from the consensual approach introduced in 2007 by senior partner David Gold, clearly sending the message to partners that the expectations upon them will be rising.
Lovells tie up with French firm
Lovells recently formed a co-operation agreement with Paris-based insolvency boutique Kuntz & Associés which will allow the two firms (who have a history of working together) to form a closer bond without entering into a full-scale alliance.
The arrangement will also grant Kuntz access to Lovells’ full-service French practice and will permit Lovells to utilise Kuntz’s specialist insolvency expertise.
The arrangement will also grant Kuntz access to Lovells’ full-service French practice and will permit Lovells to utilise Kuntz’s specialist insolvency expertise.
Partners down in UK’s top 50 firms
If Clifford Chance and Simmons & Simmons are anything to go by, new partner promotions across the United Kingdom’s top 50 law firms have decreased somewhat, with 399 promotions made in 2009, compared with 598 in 2008. As a group, Magic Circle firms also experienced a drop across the board, with promotions falling 41% from 120 to 71.
Female partner promotions across the top 50 firms have also plummeted – just 95 women were promoted to partner in 2009, compared with 149 in 2008. However, despite the fall in overall promotions, the number of new partners in London alone has only fluctuated slightly.
Female partner promotions across the top 50 firms have also plummeted – just 95 women were promoted to partner in 2009, compared with 149 in 2008. However, despite the fall in overall promotions, the number of new partners in London alone has only fluctuated slightly.
March 15, 2010
US firms cut London counterparts
Many US firms have recently taken to cutting staff from their London networks as they seek to ride out the slump.
Dewey & LeBoeuf last month launched a redundancy consultation in London in a bid to reduce its associate headcount by approximately 15.
The cut will amount to 9% of London-based associates and see 13% of support staff laid off in the capital.
Latham & Watkins also announced plans to lay off a total of 440 employees across its global network, with the firm’s London office set to lose 15 employees.
The firm will offer severance packages including six months’ salary and six months of continued medical benefits to staff who are cut.
Shearman & Sterling has followed suit and begun redundancy consultations in its London office, where 18 secretarial and support staff are likely to lose their jobs.
The firm also revealed that is has reduced its bonus pool and initiated a salary freeze due to the shaky economic climate.
Last, but not least, White & Case is on track to slash between 80 and 95 legal and support staff jobs in London as part of a firm-wide round of redundancies that will see approximately 400 employees laid off.
Dewey & LeBoeuf last month launched a redundancy consultation in London in a bid to reduce its associate headcount by approximately 15.
The cut will amount to 9% of London-based associates and see 13% of support staff laid off in the capital.
Latham & Watkins also announced plans to lay off a total of 440 employees across its global network, with the firm’s London office set to lose 15 employees.
The firm will offer severance packages including six months’ salary and six months of continued medical benefits to staff who are cut.
Shearman & Sterling has followed suit and begun redundancy consultations in its London office, where 18 secretarial and support staff are likely to lose their jobs.
The firm also revealed that is has reduced its bonus pool and initiated a salary freeze due to the shaky economic climate.
Last, but not least, White & Case is on track to slash between 80 and 95 legal and support staff jobs in London as part of a firm-wide round of redundancies that will see approximately 400 employees laid off.
Staff cuts continue at UK firms
The economic turmoil continues to take its toll on firms and their staff as another round of redundancy consultations begin.
Following reports that Clifford Chance aims to reduce lawyer headcount by 80 and scale back its partnership numbers, the Magic Circle firm recently announced it would be laying off up to 115 business services staff in London after a review.
Allen & Overy also recently revealed that five partners of the 12 that make up its London leveraged finance team will be departing, due to the scarcity of buyout activity. The firm is also said to be poised to lay off a further 31 of its 192 associates from its general banking practice.
Bristol-headquartered firm Burges Salmon has begun a redundancy consultation that will see 18 lawyers laid off across a number of different practices, while trainees are being requested to defer their start dates by a year.
The firm is also considering initiating a freeze on lawyer salaries, a decision that is due to be confirmed in September.
Following reports that Clifford Chance aims to reduce lawyer headcount by 80 and scale back its partnership numbers, the Magic Circle firm recently announced it would be laying off up to 115 business services staff in London after a review.
Allen & Overy also recently revealed that five partners of the 12 that make up its London leveraged finance team will be departing, due to the scarcity of buyout activity. The firm is also said to be poised to lay off a further 31 of its 192 associates from its general banking practice.
Bristol-headquartered firm Burges Salmon has begun a redundancy consultation that will see 18 lawyers laid off across a number of different practices, while trainees are being requested to defer their start dates by a year.
The firm is also considering initiating a freeze on lawyer salaries, a decision that is due to be confirmed in September.
March 14, 2010
UK firm rocked by student’s indirect discrimination claim
UK-based firm Osborne Clarke has been embroiled in a discrimination case brought by an Indian law student for its refusal to accept his trainee application.
The firm dismissed the student’s training contract application in 2007 on the grounds that he was a non-EEA (European Economic Area) resident and needed a work permit.
A ruling issued in March by the UK Employment Appeal Tribunal found that the firm “could not justify their policy of not accepting applications for training contracts from non-EEA nationals”. A spokesman from Osborne Clarke said the firm was disappointed with the tribunal’s ruling of indirect discrimination.
The firm is now believed to be undertaking measures to comply with the ruling. “We have already re-assessed our position on this issue to ensure that our policy complies with the original tribunal’s ruling,” the spokesman said.
The firm dismissed the student’s training contract application in 2007 on the grounds that he was a non-EEA (European Economic Area) resident and needed a work permit.
A ruling issued in March by the UK Employment Appeal Tribunal found that the firm “could not justify their policy of not accepting applications for training contracts from non-EEA nationals”. A spokesman from Osborne Clarke said the firm was disappointed with the tribunal’s ruling of indirect discrimination.
The firm is now believed to be undertaking measures to comply with the ruling. “We have already re-assessed our position on this issue to ensure that our policy complies with the original tribunal’s ruling,” the spokesman said.
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