Anna Reynolds

December 10, 2013 | International Edition

Berwin Leighton Paisner has hired a real estate team from Akin Gump Strauss Hauer & Feld to join its Moscow office, Goltsblat BLP (GBLP). The team consists of Vladislav Sourkov who is current head of Akin Gump's Russian real estate practice, Rustam Aliev who will be joining as a partner and senior counsel Dmitry Maltsev. The Moscow-based trio – who were previously at CMS - are expected to join GBLP in January 2014.

By Anna Reynolds

2 minute read

December 09, 2013 | International Edition

Herbert Smith Freehills partners have approved details of its new partner remuneration system, introducing a managed lockstep with a strong merit-based element. The new system, which will come into effect at the start of the 2014-15 financial year will see the introduction of a "balanced scorecard" by which the firm will assess partners' performance. The scorecard will take into account a number of factors including financial performance and business development, engagement with staff, client servicing and contribution to the success of others.

By Anna Reynolds

2 minute read

December 09, 2013 | International Edition

Ashurst has appointed Simon Beddow as co-head of the firm's global corporate, commercial and competition practice, following the resignation of Stephen Lloyd last month. Beddow will work alongside Sydney-based co-head Phil Breden. Beddow became a partner at Ashurst in 1998 and was appointed managing partner in Germany in 2005 before returning to London in 2009. He was appointed as European managing partner of corporate in 2010.

By Anna Reynolds

2 minute read

December 05, 2013 | International Edition

In the wake of an international merger and a change in senior management, it would be surprising not to find a seam of discontent in a firm's partnership. And as such Ashurst's merger with Australia's Blakes and the subsequent failure of senior partner Charlie Geffen to win the chairmanship has certainly set the rumour mills into gear. The Blakes tie-up finally went live at the beginning of last month. It was a process that nobody could accuse Ashurst of rushing: discussions with the Australian firm first became public in June 2011, with the deal signed in September that year.

By Anna Reynolds

5 minute read

December 04, 2013 | International Edition

Linklaters, Weil Gotshal & Manges and Kirkland & Ellis have secured roles on Royal Bank of Scotland's (RBS) sale of its remaining 20% stake in WorldPay to private equity firms Advent International and Bain Capital. RBS was advised on the disposal of the payment processing operator by Linklaters corporate partner Anne Drummond.

By Anna Reynolds

2 minute read

December 04, 2013 | International Edition

Macfarlanes, Addleshaw Goddard and Fox Williams have advised on Slater & Gordon's £33m acquisition of Manchester firm Pannone. Under the deal Australian firm Slater & Gordon will take control of Pannone's consumer law business, including its personal injury, family law, wills and estates and private client practices. An independent business called Pannone Corporate will be formed to focus on commercial and corporate work for business clients.

By Anna Reynolds

2 minute read

December 03, 2013 | International Edition

Linklaters is set to introduce a performance-based salary model for London-based associates with post-qualification experience (PQE) of two years or more. The firm said the new remuneration structure will ensure the firm remains "highly competitive". The new pay system forms part of the firm's 'Our Deal' - a recently launched commitment to the partnership. The new structure will come into effect from 1 May 2014 and will ensure salaries better reflect individuals' contributions. The firm is not making changes to its existing bonus structure.

By Anna Reynolds

2 minute read

December 03, 2013 | International Edition

Herbert Smith Freehills (HSF) partners are voting on a single remuneration structure, which includes steps to protect the firm's Asian and Australian partnership by enabling top performers to break away from its lockstep. The vote on the new system closes tomorrow or Thursday (Australia time) and needs a 75% majority on both sides to be passed. If this fails to be reached on one side it will need around 50-60% to go through.

By Anna Reynolds

2 minute read

December 02, 2013 | International Edition

Ashurst has revealed a 5.8% increase in its half-year results, taking revenue for the combined firm to £298m, up from £281.7m in the same period last year. Last November Ashurst posted a 6% dip in half-year revenues, attributing the drop to tough markets and currency fluctuations.

By Anna Reynolds

2 minute read

December 02, 2013 | International Edition

Berwin Leighton Paisner has revealed a 6% increase in revenue at the half-year point. The firm declined to reveal its H1 reveune however aside from the percentage increase; however the results follow a series of disappointing financial results for BLP in recent years. In September the firm confirmed that its average profit per equity partner (PEP) for 2012/13 had dropped by nearly 40%. Following months of speculation about the scale of its profit decline BLP revealed that PEP stood at £401,000, down 39% from £660,000 in 2011/12. In addition net profit dropped 38% to £39.4m, from £63.6m last year.

By Anna Reynolds

2 minute read