Pui Guan Man

July 23, 2012 | International Edition

Herbert Smith and Australian merger partner Freehills have outlined the new global management structure for the combined firm, naming a 13-strong global executive. Herbert Smith managing partner David Willis and Freehills managing partner Gavin Bell will become joint chief executives of the merged firm when the deal goes live on 1 October (subject to regulatory approval) and will lead the management team.

By Pui-Guan Man

2 minute read

July 23, 2012 | International Edition

Former Freshfields Bruckhaus Deringer senior partner Anthony Salz has been confirmed as the head of an independent inquiry launched by Barclays in the wake of the Libor rate-rigging scandal. Salz (pictured), who is currently a vice-chairman at investment bank Rothschild, is also set to appoint an external professional services firm to assist with the probe into the bank's culture and practices. He will report to Barclays deputy chairman Sir Michael Rake and a sub-committee of the Barclays board, with a "senior independent individual" set to be named as his deputy.

By Pui-Guan Man

3 minute read

July 22, 2012 | International Edition

CMS Cameron McKenna, Olswang and White & Case are among a number of law firms to have confirmed retention rates for their September intakes, with Olswang also unveiling changes to its trainee recruitment scheme. Camerons has announced an 84% retention rate, slightly up on the 81% kept on from the firm's March intake. Of 31 newly qualified (NQ) trainees, 26 took up positions at the firm after 29 were offered jobs. The March intake saw 25 of 31 NQs kept on.

By Pui-Guan Man

2 minute read

July 19, 2012 | International Edition

Clifford Chance (CC) and Allen & Overy (A&O) have won leading advisory roles on the refinancing of fashion retailer New Look.

By Pui-Guan Man

2 minute read

July 19, 2012 | International Edition

Malaysia looks set to become the latest Asian country to open up its legal market to overseas law firms, with Trowers & Hamlins, Allen & Overy (A&O) and Norton Rose among firms that could be interested in practising if the country pushes ahead with new reforms.

By Pui-Guan Man

4 minute read

July 19, 2012 | International Edition

Clifford Chance (CC) has approved changes to its partner termination policy which will allow the firm to speed up the exit of partners being managed out for performance reasons.

By Pui-Guan Man

2 minute read

July 19, 2012 | International Edition

Slaughter and May, Paul Hastings and Wilson Sonsini Goodrich & Rosati have scored key roles on Samsung's $310m (£199m) acquisition of British tech company CSR's mobile-chip division. Slaughters advised CSR on the deal, with a team comprising corporate finance partner William Underhill, IT and outsourcing head Rob Sumroy and IP and IT associate Brett Sherrard, as well as tax partner Tony Beare, pensions partner Roland Doughty, real estate partner David Waterfield and competition partner Michael Rowe.

By Pui-Guan Man

2 minute read

July 17, 2012 | International Edition

Midlands firms Shakespeares and Harvey Ingram are set to merge with effect from 1 September, creating a combined firm with £50m turnover. The two firms, which will employ over 800 lawyers and staff, will have offices across the Midlands and Home Counties including Birmingham, Leicester and Nottingham.

By Pui-Guan Man

2 minute read

July 16, 2012 | International Edition

Clifford Chance (CC) has become the first UK firm to gain approval to open an office in South Korea. The magic circle firm's application to open in Seoul was approved by the Korean Ministry of Justice today (16 July), with the firm's licence to practise still pending approval from the Korean Bar Association.

By Pui-Guan Man

2 minute read

July 13, 2012 | International Edition

Stephenson Harwood has posted an 18% drop in profits per equity partner (PEP) for the last financial year, alongside a 3% increase in turnover. The City firm saw PEP fall to £500,000 in 2011-12 down from £610,000 the previous year, with the decline coming as revenues rose to £110.2m from £107m, taking revenue growth to 30% over the last four years.

By Pui-Guan Man

2 minute read