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International Edition

Taylor Wessing and KWM among firms appointed to property developer panel

Real estate developer group Essential Living has appointed ten firms to its inaugural legal panel, following a three-month competitive tendering process. Taylor Wessing and King & Wood Mallesons SJ Berwin have both been appointed "with an over-arching brief" to provide corporate, finance and delivery advice.
2 minute read

International Edition

CC appointed to RBS inquiry into SME lending allegations

The Royal Bank of Scotland (RBS) has appointed Clifford Chance (CC) to conduct an inquiry into the its lending to small and medium sized enterprises (SME) after the bank was slammed in two separate reports.
2 minute read

International Edition

A&O launches contract lawyer business

Allen & Overy (A&O) has launched a new contract lawyer business through which teams of legal professionals will work for the firm on a flexible basis. The service, named 'Peerpoint', will initially contract A&O alumni with high-end or specialised skill sets to assist the firm during periods of high demand
2 minute read

International Edition

Pinsents joins campaign to tackle youth unemployment

Pinsent Masons has joined a campaign asking companies to commit to having at least 5% of their workforce on a formalised apprentice scheme, sponsored student or graduate programme.
2 minute read

International Edition

Stephenson Harwood grows first half revenue by 10%

Stephenson Harwood has posted a 10% rise in half year revenue for 2013-14. The firm brought in revenue of £57m for the first six months of the financial year, up on £51.4m at the same point in 2012-13.
2 minute read

International Edition

OC posts 12% H1 revenue hike on back of European expansion

Osborne Clarke has reported a 12% rise in revenue for the first half of 2013-14, following a period of investment over the past two years. The firm's revenue grew to £60.7m, up from the £53.4m recorded at the 2012-13 half-year mark. Osborne Clarke's offices in London, Bristol and Reading brought in revenue of £39.1m, 8% up on the equivalent point last year.
2 minute read

International Edition

Turning the tide – clients still believe you get what you pay for

Positive half-year financials and increased deal flow may be pointing to a brighter outlook for law firms, but for the foreseeable future the balance of power will remain firmly with clients. With each panel review that passes, law firms are falling over themselves to get in in-house teams' good books, throwing in secondees, training and all manner of other added extras in an attempt to secure lucrative mandates. Despite this trend, Legal Week Intelligence's annual Client Satisfaction Survey, which this year polled more than 1,400 senior in-house counsel on how they rate their external law firms, has consistently found that the factor clients value above all else is quality of legal advice. Out of 10, clients place an average value of more than 9.5 on the importance of the standard of legal advice provided.
3 minute read

International Edition

Travers appoints partners to lead sector strategy

Travers Smith has appointed partners to head its six key sector groups, two years after realigning the firm along sector lines. The firm's corporate chief Spencer Summerfield will lead the energy and natural resources team, while head of commercial, IP and technology Tom Purton is overseeing the business services sector. M&A partner Edmund Reed will take charge of healthcare and head of private equity Phil Sanderson will head up retail, with private equity partner Paul Dolman leading on leisure and IP partner Richard Brown the new head of media. Travers' senior partner Chris Hale (pictured) leads the firmwide sector-based model, which was first launched in September 2011 and was part of the firm's strategy to both strengthen existing client relationships and attract new work.
2 minute read

International Edition

Stronger economy and healthy half-year revenues fuel confidence boost at top firms

Buoyed by a surge in transactional activity and a stronger economic outlook, business confidence among partners at the top law firms is at its highest point for several years. Results of Legal Week's latest Big Question survey show 94% of partners expect to see revenues climb at their own firm over the next 12 months, while just 4% anticipate a drop in turnover and 2% think it will remain static. Partners also expect revenue across the UK top 50 as a whole to grow in the coming year, with 50% predicting combined revenues will increase by up to 5%. Just 6% of respondents are anticipating a fall in revenue across the group, while 14% believe average turnover will be static. Almost three out of ten are even more optimistic and expect revenues across the group to grow by between 5% and 10%.
4 minute read

International Edition

Locke Lord tackles rugby club administration

Locke Lord has taken the lead role on the administration of rugby league club London Broncos, just days after the firm was appointed to advise the administrators of Blockbuster.
2 minute read

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