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International Edition

Hong Kong lawyers in demand as global firms fight for Chinese speakers

International law firms in Hong Kong are ramping up their recruitment of Mandarin speakers in a bid to boost relationships with mainland China clients, creating fierce job competition for foreign lawyers in the region. A Legal Week survey of international firms operating in Hong Kong found every firm responding to the survey bar one had increased the number of Mandarin-speaking lawyers in their Hong Kong offices since 2011. The increase took the average percentage of Mandarin speakers employed by the 16 responding law firms to 60% of their total Hong Kong lawyer count.
4 minute read

International Edition

Herbert Smith faces fierce competition in 'over-lawyered' German market

The news that Herbert Smith Freehills is set to launch in Germany later this year has been met with a mixed response from the local market, with lawyers questioning whether the firm will be able to come close to matching the strength offered through its former alliance with Gleiss Lutz. The firm last week confirmed it is opening an office in Frankfurt in the second quarter of 2013 with the hire of Ralf Thaeter, who was head of corporate and M&A at Gleiss. The office will initially focus on M&A, corporate, disputes and finance work, with a view to expanding to a full-service offering. The firm was not able to open in the country earlier than January 2013 due to the wind-down terms of its alliance with Gleiss and Benelux firm Stibbe, which broke down in December 2011.
3 minute read

International Edition

The eight golden rules – how to be a successful equity partner

The first rule of being a successful equity partner is covering your costs and share of the overheads – this is the very minimum expected. Unlike senior associates, or even salaried partners, it is the equity partner's responsibility to make sure that their team's client work adds value to the firm through profit. If an equity partner acquires a reputation for continually failing to achieve their targets, this normally leads to them leaving the practice.
5 minute read

International Edition

Revolving doors - London partner churn at US firms reaches new heights

As Cobbetts this week looked to be taking its final steps towards obsolescence and a pre-pack deal with DWF, new research from Legal Week has found US firms' activities on this side of the pond moving in an entirely more positive direction. Casting aside the seemingly perpetual economic gloom, firms have turned their attention to London expansion, with our latest survey into the hiring trends of US players in the City demonstrating record levels of partner recruitment.
3 minute read

International Edition

London partner recruitment by US law firms hits record levels

The collapse of Dewey & LeBoeuf helped drive partner hiring by US law firms in London to record levels in 2012, with senior lateral recruitment in the City climbing by almost 40% during the last calendar year. Legal Week's annual survey of London partner recruitment trends at some of the leading US law firms found there were 141 lateral partner hires made by the City arms of 47 US law firms last year, compared with 103 across the same firms in 2011.
4 minute read

Legal Week

Revolving doors - London partner churn at US firms reaches new heights

As Cobbetts this week looked to be taking its final steps towards obsolescence and a pre-pack deal with DWF, new research from Legal Week has found US firms' activities on this side of the pond moving in an entirely more positive direction. Casting aside the seemingly perpetual economic gloom, firms have turned their attention to London expansion, with our latest survey into the hiring trends of US players in the City demonstrating record levels of partner recruitment.
6 minute read

International Edition

K&L Gates set to unveil 8% London turnover hike as City rise continues

K&L Gates saw London turnover increase by 8% in 2012 after a busy year for the US firm, with City growth coming against static revenues across the firm as a whole. Provisional figures for the firm's London office show revenues rose to £35.6m during the year, up from 2011's total of £33m, despite a slight fall in partner headcount to 60. The results mean the law firm has increased City revenues by almost 20% over the past two years, after seeing a 10% hike in the UK last year.
2 minute read

International Edition

Bond Dickinson sets out plans for growth in London and Aberdeen ahead of merger

Bond Dickinson, the firm formed by the merger of Bond Pearce and Dickinson Dees, is set to target growth in London and Aberdeen when its union goes live on 1 May next year. The new firm, which will sit within the UK top 40 with combined revenues of £95m, is putting domestic growth ahead of international expansion for the short term.
3 minute read

International Edition

Herbert Smith Freehills shakes up post-merger partner notice terms

Herbert Smith Freehills is overhauling its notice period in the wake of the merger between the two firms which went live in October, with the new six-month term halving the notice period previously in place at legacy Herbert Smith. Partners at both firms approved the change, which is in the process of being implemented, as part of the merger terms. The six-month term, which will be imposed at the discretion of the firm, effectively doubles the notice for legacy Freehills partners exiting, as they were previously subject to just three months.
4 minute read

International Edition

Eversheds to set out top team with managing partner reappointment

Eversheds managing partner Lee Ranson is set to be reappointed in his role, with the decision coming as Eversheds International chairman David Gray prepares to retire from the firm in April. Ranson's forthcoming reappointment comes after chief executive Bryan Hughes was re-elected for a second four-year term that will run from May 2013.
2 minute read

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