Legal Week

July 07, 2009 | International Edition

2009 will possibly mark the lowest retention rate for trainees ever. Gossip is rife about reduced salaries being offered to newly qualifieds (NQs). Rumours abound within firms about who will be kept on and who won't. But among all the hype and chitchat, are some short and long term trends emerging about trainee recruitment and the nature of the training contract itself?

By Legal Week

4 minute read

July 07, 2009 | International Edition

Sullivan & Cromwell has completed its first UK corporate deal for Rio Tinto, acting opposite Baker & McKenzie on the $1.2bn (£742,058) disposal of Rio's Alcan Food Americas division to US packaging company Bemis. The US firm was instructed by Rio Tinto last year following a beauty parade and fielded a team from London and New York led by London M&A partners Tim Emmerson and Nikolaos Andronikos, assisted by tax partner Michael McGowan.

By Legal Week

2 minute read

July 07, 2009 | International Edition

SJ Berwin has offered places to 71% of its qualifying trainees this September, with the City firm set to take on 27 out of a total of 38 trainees after the summer. Last year the firm had an acceptance rate of 89%, retaining 32 out of a total of 36 trainees.

By Legal Week

2 minute read

July 07, 2009 | International Edition

A top lawyer in Mayer Brown 's global finance practice is leaving the firm to join Dewey & LeBoeuf. Marshall Stoddard, who served as co-chair of Mayer Brown's global finance practice and was the relationship partner to Bank of America, will become the US head of bank and institutional finance at Dewey, resident in the New York and Los Angeles offices. Stoddard, who is leaving Mayer Brown following a high-profile management shakeup, says he was attracted by Dewey's more stable leadership team.

By Legal Week

3 minute read

July 07, 2009 | International Edition

Taylor Wessing has announced its financial results for 2008-09, with the firm's UK operations seeing profits per equity partner (PEP) fall by 30%. The firm's UK PEP has fallen from £613,400 during 2007-08 down to £436,000 for the last financial year.

By Legal Week

2 minute read

July 06, 2009 | International Edition

The College of Law is set to open a new centre in Bristol next year. The centre, which will be the College's eighth base across the UK, will offer the graduate diploma in law (GDL) and the legal practice course (LPC). Some 170 students are expected to enrol in the opening September 2010 intake, with the new launch set to involve around £1.2m of investment and the creation of 40 new jobs.

By Legal Week

2 minute read

July 06, 2009 | International Edition

Osborne Clarke is to advise ailing coffee chain, Coffee Republic, which has suspended its shares in anticipation of appointing administrators. Bristol corporate partner Paul Cooper and head of restructuring and insolvency Nigel Boobier, have been brought in to advise the company in relation to its potential collapse.

By Legal Week

2 minute read

July 06, 2009 | International Edition

Bird & Bird has recruited Linklaters global head of technology media and telecoms (TMT) and intellectual property (IP) Tim Schwarz. Schwarz, who is set to join Bird & Bird as a partner in September, will focus on strengthening the top 30 UK law firm's communications group in the Middle East and Africa.

By Legal Week

2 minute read

July 06, 2009 | International Edition

Shoosmiths has reported a marginal drop in turnover for 2008-09 but seen profits per equity partner (PEP) plunge by 54% - the biggest drop in profits at a top 50 firm to date. Shoosmiths' PEP plummeted by 54% to £150,000 for the last financial year down from £327,000 in 2007-08. Revenue dipped by 4%, falling from £103.4m in 2007-08 to £99m.

By Legal Week

2 minute read

July 06, 2009 | International Edition

I have just finished the GDL after a non-law degree in business studies at a top 10 university. I have a place on the LPC starting in September, but I have no training contract and am considering taking a year out to improve my CV before making applications to some of the large city firms. I have a high 2:1 but unfortunately poor A-levels (BBD). I have managed to get quite a lot of legal work experience so far but no vacation schemes at top firms. I am also captain of a sports team and do some voluntary work.

By Legal Week

1 minute read