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International Edition

Ashurst seals new Indian best friend agreement with Mumbai firm

Ashurst has entered into a best-friends arrangement with Mumbai firm Indian Law Partners (ILP). The non-exclusive tie-up will see the two firms refer work to each other on a preferential basis.ILP, which was created earlier this year by former DSK Legal partners Gopika Pant and Piyoosh Gupta, also houses one counsel and 10 associates.
2 minute read

International Edition

Simmons finalises move to overhaul partnership track

Simmons & Simmons is set to finalise its move to a three-tier partnership later this month, with the firm overhauling its traditional route to partnership. The overhaul means the firm will now promote all of its associates into a fixed-share partnership rank – abandoning the previous system that saw associates first become salaried partners or occasionally go straight into the equity.
2 minute read

International Edition

Smoke signals - there's no easy way to judge verein-backed firms

I knew this one was brewing for months. When Legal Week got around to its annual table of law firm results, there was always going to be a mind-numbing debate about how to treat the law firms put together with multiple profit centres. In many ways, the days when UK tables from Legal Week or US tables from The American Lawyer neatly summed up the upper end of the global legal services market have already passed. With more than 1,500 lawyers working for foreign firms in London, the UK-based tables already fail to reflect a substantial element of the domestic market. Yet merely replacing them with global tables or UK-revenue specific figures in isolation doesn't look that practical.
3 minute read

International Edition

Links finalises launch of new base in Abu Dhabi

Linklaters has launched an office in Abu Dhabi, with New York finance partner Paul Kruger among a number of partners relocating to the new arm. The office launch, first reported by Legal Week last month, marks Linklaters' 27th office worldwide.
2 minute read

International Edition

DLA partners in talks over switch to all-equity model

DLA Piper is planning to overhaul its partnership structure, with the firm to consult with partners about options including a shift to an all-equity partnership. The firm plans to discuss overhauling the partnership in DLA Piper International, which includes offices in the UK, Europe, the Middle East and Asia, where it currently operates a three-tier partnership split between a band of equity partners and two tiers of fixed-share partners.
2 minute read

International Edition

Partner exits – if you've got to go, don't go quite yet

On the face of it there are very few parallels between Clifford Chance (CC) and SNR Denton right now, with CC's average profits per equity partner standing around the £1m mark, while those at legacy Dentons lag behind its City peers at just £232,000. But in one respect the pair are taking a very similar approach, with both firms currently planning to hold some of their exiting partners to all, or most, of their notice periods.
4 minute read

Legal Week

Partner exits – if you've got to go, don't go quite yet

On the face of it there are very few parallels between Clifford Chance (CC) and SNR Denton right now, with CC's average profits per equity partner standing around the £1m mark, while those at legacy Dentons lag behind its City peers at just £232,000. But in one respect the pair are taking a very similar approach, with both firms currently planning to hold some of their exiting partners to all, or most, of their notice periods.
41 minute read

International Edition

Hunton makes London redundancies as City lawyer headcount falls 60%

Hunton & Williams has made nine job cuts in London, following a raft of partner exits which have seen lawyer headcount in the US firm's City base shrink by over 60% in just three months. The redundancies, which comprise one of counsel, two associates and six secretarial and support staff, come after five energy and corporate partners left for rival US firms earlier this year following a strategic refocusing in the office.
2 minute read

International Edition

Trio of O'Melveny partners set to compete for leadership of firm

Three O'Melveny & Myers partners are set to compete to succeed Arthur Culvahouse at the helm of the firm ahead of the end of his four-year term as chairman next year, reports The Am Law Daily. The US firm's policy committee has whittled down the field of partners being considered to succeed Culvahouse in the firm's top leadership post, and expects to have the ultimate choice put to a partnership vote by summer's end.
3 minute read

International Edition

Freshfields investigates support function over supplier arrangements

Freshfields Bruckhaus Deringer is currently investigating one of its business support functions in relation to discrepancies over supplier arrangements. The support group in question is understood to be part of the firm's IT function, with around six employees asked to leave work while the investigation is ongoing.
2 minute read

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