Legal Week

July 09, 2009 | International Edition

Diageo has handed CMS Cameron McKenna a flagship appointment, with the UK firm and its eight-firm CMS alliance appointed as preferred adviser for commercial work across continental Europe. The news comes as the drinks giant - which owns brands including Guinness and Smirnoff - launches an informal review looking at how it can cut legal spend globally without creating a formal legal panel.

By Legal Week

2 minute read

July 09, 2009 | International Edition

Clifford Chance (CC) has seen the departure of nearly 50 partners since the beginning of March, it has emerged. London and New York have been most affected by the exits, which include normal retirements and those choosing to leave as well as those affected by its partner restructuring.

By Legal Week

2 minute read

July 09, 2009 | International Edition

Banco Santander is finalising a shake-up of its external advisers in the UK, as JP Morgan has launched a review of its preferred law firms. Santander has turned to procurement company Aquanima for the first review of its merged UK panel, which covers the legacy Abbey, Alliance & Leicester and Bradford & Bingley brands.

By Legal Week

2 minute read

July 09, 2009 | International Edition

The news that Prince William has been made an honorary barrister has provoked some annoyed responses - the flames of disgruntled public opinion fanned by William's decision to include a trademark Windsor gag in his acceptance speech.

By Legal Week

3 minute read

July 08, 2009 | International Edition

Hammonds has unveiled its financial results posting a dip in turnover of 5% while profits per equity partner (PEP) fell by 25%. The national law firm saw turnover fall by 5% to £125.4m for 2008-09, down from £132m in the previous financial year. PEP dropped to £276,000 from £367,000 in 2007-08.

By Legal Week

2 minute read

July 08, 2009 | International Edition

Ashurst has seen profits per equity partner (PEP) drop by more than a third during 2008-09. The top 10 City firm has reported PEP of £673,000 for the last financial year, a 35% drop on 2007-08 figure of £1.04m.

By Legal Week

2 minute read

July 08, 2009 | Legal Week

Ashurst has seen profits per equity partner (PEP) drop by more than a third during 2008-09. The top 10 City firm has reported PEP of £673,000 for the last financial year, a 35% drop on 2007-08 figure of £1.04m.

By Legal Week

6 minute read

July 08, 2009 | International Edition

Nabarro has reported a 9.7% drop in revenue for the 2008-09 financial year while profits per equity partner (PEP) have fallen by 35%. Unaudited figures from the firm show that revenue for the last financial year stood at £126.5m down from last year's equivalent figure of £140.1m. PEP fell to £375,000, down from last year's equivalent figure of £574,000.

By Legal Week

2 minute read

July 08, 2009 | International Edition

Cadwalader, Wickersham & Taft has created an alternative to layoffs, as firms continue to look for more creative ways to engage under-utilised lawyers. The New York firm, which was one of the first to lay off associates back in January 2008, has opted for paid sabbaticals, as reported on Above the Law earlier this week (7 July).

By Legal Week

2 minute read

July 08, 2009 | International Edition

Dewey & LeBoeuf has secured the most high profile lateral hires the California legal market has seen for years after recruiting a star M&A and technology team from Cooley Godward Kronish. The transferring team comprises corporate rainmakers Richard Climan and Keith Flaum and tech practice head Eric Reifschneider, who will move to Dewey's small East Palo Alto arm.

By Legal Week

3 minute read