North America
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US firms move to protect European partners as dollar slump continues
By a:1:{i:0;s:1:" ";} | February 7, 2008
A growing number of leading US law firms are moving to shield European partners and associates from the prolonged slump in the dollar, it has emerged. Firms including Latham & Watkins and Orrick Herrington & Sutcliffe are reviewing provisions for partners in overseas offices, while several elite Wall Street firms have already moved to guarantee packages for UK-based associates.Both Latham and Orrick already have hedging provisions in place to offset currency risk but are now reviewing their models in a bid to remain competitive in Europe. Crucially, many firms claim the poor exchange rate has made lateral partner recruitment in the City much more difficult.
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US firms move to protect European partners as dollar slump continues
By Georgina Stanley | February 7, 2008
A growing number of leading US law firms are moving to shield European partners and associates from the prolonged slump in the dollar, it has emerged. Firms including Latham & Watkins and Orrick Herrington & Sutcliffe are reviewing provisions for partners in overseas offices, while several elite Wall Street firms have already moved to guarantee packages for UK-based associates.Both Latham and Orrick already have hedging provisions in place to offset currency risk but are now reviewing their models in a bid to remain competitive in Europe. Crucially, many firms claim the poor exchange rate has made lateral partner recruitment in the City much more difficult.
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Hiring trends at US firms in London fail to match 2005 five-year high
By a:1:{i:0;s:1:" ";} | February 6, 2008
US firms hired 67 partners across the City in 2007 - a slight dip on the recruitment peak of 2005, despite last year's booming markets. Legal Week research into hiring trends at 24 of the US' biggest players in the UK found that while recruitment activity was up on 2006 - when 60 partners joined US practices - it failed to match 2005's five-year high of 72.Much of the activity came in the mid-market. Mayer Brown was the biggest lateral recruiter of 2007, with the firm bringing in nine partners, including two high-profile names - McDermott Will & Emery corporate partner William Charnley and Ashurst real estate partner Gary Watson.
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Hiring trends at US firms in London fail to match 2005 five-year high
By Georgina Stanley | February 6, 2008
US firms hired 67 partners across the City in 2007 - a slight dip on the recruitment peak of 2005, despite last year's booming markets. Legal Week research into hiring trends at 24 of the US' biggest players in the UK found that while recruitment activity was up on 2006 - when 60 partners joined US practices - it failed to match 2005's five-year high of 72.Much of the activity came in the mid-market. Mayer Brown was the biggest lateral recruiter of 2007, with the firm bringing in nine partners, including two high-profile names - McDermott Will & Emery corporate partner William Charnley and Ashurst real estate partner Gary Watson.
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Cadwalader feels the pinch as '07 PEP dips 6%
By a:1:{i:0;s:1:" ";} | February 5, 2008
Cadwalader Wickersham & Taft has become the first firm to take a hit on performance in 2007, with average partner profits at the New York firm falling by 6% to $2.72m (£1.38m). Figures unveiled by Cadwalader today (5 February) show average profits per equity partner (PEP) at $2.72m 9£1.37m) for 2007 - a fall of 6% from the previous year's mark of $2.9m (£1.48m).
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Cadwalader feels the pinch as '07 PEP dips 6%
By Charlotte Edmond | February 5, 2008
Cadwalader Wickersham & Taft has become the first firm to take a hit on performance in 2007, with average partner profits at the New York firm falling by 6% to $2.72m (£1.38m). Figures unveiled by Cadwalader today (5 February) show average profits per equity partner (PEP) at $2.72m 9£1.37m) for 2007 - a fall of 6% from the previous year's mark of $2.9m (£1.48m).
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Cadwalader next to wield axe as 35 lawyers go in US
By a:1:{i:0;s:1:" ";} | January 10, 2008
Cadwalader Wickersham & Taft has laid off 35 lawyers, becoming the latest major US law firm to suffer the effects of the credit crunch. In a statement released today (10 January) the firm blamed "unexpected and persistent volatility" in the financial markets for the redundancies, saying disruption in the capital markets was affecting many of its clients.
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Cadwalader next to wield axe as 35 lawyers go in US
By Georgina Stanley | January 10, 2008
Cadwalader Wickersham & Taft has laid off 35 lawyers, becoming the latest major US law firm to suffer the effects of the credit crunch. In a statement released today (10 January) the firm blamed "unexpected and persistent volatility" in the financial markets for the redundancies, saying disruption in the capital markets was affecting many of its clients.
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Mergermarket ranks 2007's busiest deal lawyers
By a:1:{i:0;s:1:" ";} | December 14, 2007
Clifford Chance (CC) Duesseldorf competition partner Marc Besen and Linklaters UK private equity partner Richard Youle have been named as Europe's most active deal-doers for 2007, according to Mergermarket. Individual rankings produced for Legal Week show Besen and Youle have both advised on 15 M&A deals over the calendar year, with both acting on deals worth a combined value of slightly less than €5bn (£3.59bn).
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Mergermarket ranks 2007's busiest deal lawyers
By Charlotte Edmond | December 14, 2007
Clifford Chance (CC) Duesseldorf competition partner Marc Besen and Linklaters UK private equity partner Richard Youle have been named as Europe's most active deal-doers for 2007, according to Mergermarket. Individual rankings produced for Legal Week show Besen and Youle have both advised on 15 M&A deals over the calendar year, with both acting on deals worth a combined value of slightly less than €5bn (£3.59bn).
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