Speechly Bircham and Charles Russell partners are going to the polls today (16 July), to cast their votes on their potential £126m merger between the firms. It is thought that the firms have set a 75 per cent approval threshold in order for the merger to be rubber-stamped. If the deal is approved the firms […]
The magic circle has seen its revenue market share of the UK top 10 firms contract by more than 15 per cent over the last decade as global consolidation takes hold of the sector. While the collective revenue across the UK200 top 10 has defied the biggest economic slump in 100 years to double in […]
Herbert Smith Freehills (HSF) turned over £800m in its first full year as a merged firm, with a net profit of £232m giving it a margin of 29 per cent for 2013/14. Following the combination of the respective firms’ profit pools and subsequent restructure of the combined firm’s remuneration system, average profit per equity partner […]
Kenyan firms Hamilton Harrison & Matthews (HHM) and Oraro & Company have announced they are to merge, pending regulatory approval. The combined firm, HHM Oraro, will be one of Kenya’s largest with 17 partners and another 34 associates. HHM managing partner Adil Khawaja will be the managing partner of HHM Oraro. HHM is Dentons’ associated […]
Facebook adviser Cooley is believed to be in talks with a number of Edwards Wildman’s London partners in preparation for a City launch. It is understood that a group of Edwards Wildman partners are talking to Cooley about the launch of a London office, after the Silicon Valley firm hired a specialist consultant to find […]
AIM-listed consumer financial services business Fairpoint Group has stated its commitment to expanding Simpson Millar after it completed its acquisition of the firm earlier this week for an £8m consideration. Fairpoint secured a £20m funding facility from Allied Irish Banks (AIB) earlier this year both to fund the acquisition and to underpin its future consolidation […]
Pinsent Masons’ senior partner Chris Mullen will face head of construction Richard Foley in the firm’s first senior partner election in six years, with a result expected in early July. The election is the first for any role at Pinsents to be contested since managing partner David Ryan was first elected in 1998. Pinsents will […]
Scottish law firms Thorntons, Murray Donald and Steel Eldridge Stewart are to merge later this year to create the largest law firm in eastern Scotland. The expected £20m firm will be headed up by joint Thorntons managing partners Craig Nicol and Scott Milne and be known as Thorntons. No jobs will be lost in the […]
Squire Sanders and Washington DC-based Patton Boggs have agreed to a wholly merit-based remuneration structure once the two firms merge on 1 June. The decision was made at the start of the merger discussions after Patton Boggs conducted a strategic review of its compensation structure and decided to abolish its traditional ’eat-what-you-kill’ model. Patton Boggs […]
Partners at Squire Sanders and Washington DC-based Patton Boggs have agreed to merge the firms and new outfit Squire Patton Boggs will launch within a week. The combined firm will have 1,700 lawyers in 45 offices across 22 countries. It will give Patton Boggs the international platform its clients are increasingly demanding and Squire Sanders a […]
The consumer insurance market has seen a fierce tussle for territory. Have the mega-firms won or has the war just begun? Insurers sparked an epic land grab a few years ago when they began reducing their panels and putting the squeeze on fees. Meanwhile, added pressure was piling up on firms from regulatory change and the […]
Unprecedented consolidation in the consumer insurance market has halved the number of key industry players in the UK200, The Lawyer’s research has revealed. Of 22 of the UK200’s key consumer insurance firms active in 2009 only 14 remained in 2013 – and only 11 today. At the end of the 2012/13 financial year, over half […]