Pui Guan Man

March 05, 2013 | International Edition

Berwin Leighton Paisner (BLP) and Morton Fraser are among nine firms landing spots on Heathrow Airport Holdings' legal panel, with the duo appointed to the roster for the first time. The company, formerly known as BAA, has reappointed existing panel members Allen & Overy, Blake Lapthorn, Brodies, Eversheds, Freshfields Bruckhaus Deringer, Herbert Smith Freehills (HSF) and Pinsent Masons, with the latter winning a spot after merging with longstanding adviser McGrigors last year.

By Pui-Guan Man

3 minute read

February 28, 2013 | International Edition

SJ Berwin has held back quarterly profit distributions due to be paid to partners in February to improve cash flow at the firm. The City firm, which made the previous payment in November in full, confirmed that it had opted to postpone paying partners their most recent profit distribution on the back of a large January tax bill and increased investment internationally. Monthly drawings have been paid as normal.

By Pui-Guan Man

2 minute read

February 28, 2013 | International Edition

Field Fisher Waterhouse has started a strategic review, as the firm's incoming management team sets about trying to refocus the business to ensure it is the right shape for the future. Managing partner Michael Chissick (pictured) and senior partner Matthew Lohn outlined details of the review to partners at the firm's annual partner conference late last month, with a consultation on the review expected to end in May. The new strategy is expected to encompass topics including Field Fisher's recently revamped sector focus, which last summer was scaled back from 11 industry specialisms to five, and international expansion, as well as options for re-engineering under-utilised practice areas.

By Pui-Guan Man

3 minute read

February 28, 2013 | International Edition

Trainee retention rates across the bulk of the UK's largest law firms have fallen this year, with research by Legal Week finding the average rate has dropped by almost 10% on last spring's qualifying intake. At the top 20 UK firms with a spring intake, an average of 76.5% of newly qualified (NQ) lawyers have been kept on this year, 9% down on the equivalent intake last year and 3% lower than last autumn's qualifying round. Of 441 trainees at the firms to have released details to date, 343 have been kept on – down on the total of 358 of 422 NQs kept on across the same group in spring 2012.

By Pui-Guan Man

4 minute read

February 28, 2013 | International Edition

Allen & Overy (A&O), Clifford Chance (CC) and Nabarro have scored lead roles on British defence giant BAE Systems' £3.2bn longevity swap with UK insurer Legal & General (L&G). The deal, which is thought to mark the largest single pensions insurance transaction in the UK to date, covers the financial risk associated with 31,000 BAE pensioners.

By Pui-Guan Man

2 minute read

February 28, 2013 | International Edition

Hogan Lovells, SJ Berwin and Herbert Smith Freehills (HSF) have become the latest UK top 20 firms to confirm their trainee retention figures for spring 2013, with all three posting lower rates than the equivalent intake last year. Hogan Lovells has posted a 76% retention rate after 26 newly qualified (NQ) lawyers accepted a role at the firm, from an intake of 34 trainees.

By Pui-Guan Man

2 minute read

February 27, 2013 | International Edition

Herbert Smith Freehills (HSF) has boosted its ranks in New York with the hire of Gibson Dunn & Crutcher global arbitration co-head Laurence Shore. Shore originally joined legacy Herbert Smith's London arm in 1995, becoming head of international arbitration at the firm in 2005 before leaving for Gibson Dunn's arbitration practice in 2008. He became co-chair of the practice in the same year.

By Pui-Guan Man

2 minute read

February 25, 2013 | International Edition

Allen & Overy (A&O) has named London-based capital markets chief David Krischer as the magic circle firm's new US managing partner. Krischer, who was appointed late last week with immediate effect, will now split his time between London, New York and Washington DC for an initial period while continuing to lead the firm's global capital markets practice.

By Pui-Guan Man

2 minute read

February 22, 2013 | International Edition

Clifford Chance (CC) has elected two new members to its partnership council, with Washington DC banking and finance partner Catherine McCarthy and Beijing M&A corporate partner Tim Wang joining the group. The pair will succeed Asia disputes partner Martin Rogers and Frankfurt corporate partner Daniela Weber-Rey and will serve a three-year term kicking off on 19 March 2013.

By Pui-Guan Man

2 minute read

February 21, 2013 | International Edition

Simmons & Simmons has expanded its recently-launched Bristol office to provide back office support to the wider business. The firm has transferred 14 support staff positions from London to Bristol, which opened last September to provide high-end legal advice to clients at a lower cost. The support positions moving over to Bristol comprise a mix of IT, finance, risk and document production roles, with the relocations resulting in an undisclosed number of redundancies in London. Fewer than 10 London staff are believed to have been affected.

By Pui-Guan Man

2 minute read