In its first round of qualifiers as a newly-merged firm, A&O Shearman has retained 37 of its combined cohort of 56 trainee solicitors. A total of 48 trainees applied to qualify at the firm, but only 39 were made offers, with 37 accepting. Retention is therefore posted at 66 per cent, with no qualifiers on […]
Herbert Smith Freehills has increased its compensation package for its trainee solicitors and newly-qualified (NQ) solicitors, with NQs now earning £135,000. NQ pay at the firm will increase 12.5 per cent from £120,000 to £135,000 – a figure that now surpasses that of Slaughter and May which decided to remain at £125,000 in June. Trainees […]
Paul Weiss Rifkind Wharton & Garrison is to match its US rivals on newly-qualified (NQ) solicitor pay, with a pledge to start taking on trainee solicitors in London. The firm is expected to have its first cohort of trainee solicitors start in London in September 2026. Trainee pay is currently undisclosed but the firm will […]
Skadden Arps Slate Meagher & Flom took the lead role for BlackRock on its acquisition of private markets data solutions provider Preqin for £2.55bn. The deal sees BlackRock acquire Preqin to expand Aladdin, the private equity giant’s portfolio management software. The deal will bring Preqin’s data and research tools together with Aladdin’s workflow capabilities to […]
Slaughter and May, Kirkland & Ellis and Paul Weiss Rifkind Wharton & Garrison have together banked nearly £25m on EP Group’s (EP) takeover of Royal Mail’s parent company, IDS. EP, owned by Czech billionaire Daniel Kretinsky, announced its intention to acquire IDS just over a month ago in May. The bid valued the distribution company […]
Perkins Coie is designing a training contract that aims to harness the flexibility of the Solicitors Qualifying Examination (SQE) and take up to a year off the traditional training contract route. The launch of a legal trainee programme in London is understood to have been signed off by the US firm and will be finalised […]
Pinsent Masons is acting for England’s largest winemaker on a potential sale that could see the company de-list from the alternative investment market (AIM) less than a year after its float. Chapel Down Group, the official English sparkling wine sponsor of Ascot Racecourse, is conducting a strategic review of its funding options including a potential […]
Linklaters and A&O Shearman have capitalised on longstanding client relationships, acting on a deal in which Sainsbury’s banking business is sold to NatWest Group. Linklaters is acting for Sainsbury’s Bank with the team led by corporate partner Charles Turner, TMT partner Richard Cumbley and corporate managing associate Matthew Halliday. A&O Shearman is acting for NatWest, […]
UK housebuilder Crest Nicholson is fending off advances from larger rival Bellway, with Norton Rose Fulbright and Slaughter and May at the helm. On Friday, Crest rejected Bellway’s second bid for the company in the last two months, which valued it at £650m. A merger of the two companies could create a business with an […]
With the Solicitors Regulation Authority (SRA) expecting income derived from the Solicitors Qualifying Exam (SQE) to double this year, there are concerns that the regulator is treating its new way of training lawyers as a “huge cash cow”. According to the SRA’s annual business plan and budget consultation paper, SQE income is expected to more […]
Sidley Austin has increased its base pay for newly-qualified (NQ) solicitors for the second time this year from £166,500 to £175,000. The pay increase will come into force from 1st July and is also understood to involve rises across the board for associates. Trainee solicitors will see a pay rise too, with first-year trainees moving […]
King & Spalding has raided US rival Cadwalader Wickersham & Taft for a four-strong partner team in London. Four partners are making the move, alongside one special counsel who will join as partner. On the funds finance side, partners Samantha Hutchinson, Mathan Navaratnam, Nathan Parker and special counsel James Hoggett will join. Partner Sukhvir Basran […]