Friederike Heine

January 14, 2011 | International Edition

Allen & Overy (A&O) has become the latest City firm to announce its March retention rates, with 56 out of 64 (88%) qualifying trainees offered a permanent position with the firm. Out of the 56 trainees to be offered a newly-qualified (NQ) position, 54 accepted the offer, resulting in an overall retention rate of 84%. The magic circle firm's most recent retention figure is slightly higher than the figure announced at the same time last year, when only 83% of qualifying trainees were offered a position and 80% were retained.

By Friederike Heine

2 minute read

January 13, 2011 | International Edition

Slaughter and May, Bredin Prat and Freshfields Bruckhaus Deringer have taken lead advisory roles on proposed new joint venture agreements between PetroChina and chemicals producer Ineos. Ineos instructed a team of lawyers from Slaughters and its French best friend firm Bredin Prat to advise on the venture that will see the Chinese energy giant partner with Ineos to trade and refine oil at refineries in Scotland and France.

By Friederike Heine

2 minute read

January 12, 2011 | International Edition

The Solicitors Regulation Authority (SRA) is to take a more active interest in the finances of leading law firms, after writing to the UK's biggest 50 law firms requesting that they engage with the regulator early if their finances deteriorate. The SRA's executive director of regulation Samantha Barrass sent out the letter late last year. Barrass said the regulator wanted to see if there was any truth in a Gazette report stating that five top 30 firms were in "intensive care" with banks and to remind firms that its new approach to regulation means law firms are required to notify the SRA promptly about material developments such as serious financial difficulty.

By Friederike Heine

3 minute read

January 12, 2011 | International Edition

Drax Power has promoted senior in-house counsel Kavita Singh to general counsel, with a remit to increase its roster of external law firms as the company expands internationally and to oversee the planned development of three biomass power stations with Siemens. Singh takes over at the helm of the nine-lawyer in-house team from Philip Hudson, who will now serve as director of corporate affairs following a management reshuffle.

By Friederike Heine

2 minute read

January 12, 2011 | International Edition

Seven law firms have been included in this year's Workplace Equality Index compiled by gay rights charity Stonewall, with Simmons & Simmons topping the rankings for the second year in a row. The index, which ranks the top 100 gay-friendly employers in the UK, included Simmons & Simmons in 19th place, down from its 15th-place ranking last year. Other firms to be featured in the rankings include Baker & McKenzie, Eversheds, Herbert Smith, Hogan Lovells, Irwin Mitchell and Pinsent Masons.

By Friederike Heine

2 minute read

January 12, 2011 | International Edition

Edwards Angell Palmer & Dodge has made up two new partners in its London office as a part of a five-strong global promotions round. London-based patent lawyer John Lloyd, who focuses on microbiology, molecular biology and biochemistry, has joined the partnership in the US firm's intellectual property (IP) practice. The promotion will bring the number of IP partners in Edwards Angell's City base to seven.

By Friederike Heine

2 minute read

January 11, 2011 | International Edition

Field Fisher Waterhouse is set to launch in Munich and Duesseldorf, following the hire of a four-partner team from Howrey led by German managing partner Joachim Feldges. Feldges will oversee all three of Field Fisher's German offices, including the firm's existing Hamburg base. He joins alongside fellow Howrey intellectual property (IP) partners Thomas Adam and Jochen Herr in Munich, as well as Duesseldorf-based Christoph Lenz.

By Friederike Heine

2 minute read

January 11, 2011 | International Edition

Jones Day is set to launch three associate offices in Saudi Arabia during 2011 through an informal tie-up with local law firm Alsulaim Alawaji & Partners. The offices will be located in Riyadh, Jeddah and Alkhobar, and will bring the total number of Jones Day locations to 37. The Riyadh office was the first to open its doors earlier this month (1 January), and will be overseen by projects partner Yusuf Giansiracusa, who rejoined Jones Day after stints at Alsulaim Alawaji and as Winston & Strawn's Riyadh managing partner.

By Friederike Heine

2 minute read

January 11, 2011 | International Edition

Reed Smith has expanded its London tax practice with the hire of Eversheds' head of corporate tax, Caspar Fox, who joined the firm's London office last week (4 January). Fox will work alongside partner Harriet Morgan, who has been the only tax partner in Reed Smith's London office since former tax head Huw Witty left to join City firm Fladgate Fielder in 2009.

By Friederike Heine

2 minute read

January 10, 2011 | International Edition

Linklaters has taken a lead role alongside three European firms on Apax Partners' $1.7bn (£1.1bn) acquisition of German fashion retailer Takko from private equity firm Advent. Linklaters and Germany's Wolf Theiss advised Apax on the deal, which comes three years after the company was bought by Advent from rival buyout house Permira.

By Friederike Heine

2 minute read