Matt is The Lawyer’s deputy editor. He has a particular focus on the US legal market. He also leads many of The Lawyer’s market reports, including the UK 200.
Persuading clients to pay their legal bills in a timely fashion is the optimum way to keep a firm pumped with cash. But analysis by The Lawyer shows some firms are smarter about financial management than others. For evidence of this, look at the growing disparities in how firms are managing lock-up. The data shows […]
April is the busiest month as the end of the financial year looms. As firms rush to get bills out and paid, The Lawyer takes a deep dive into key financial hygiene and behavioural issues. Weightmans and Burness Paull have joined a growing list of firms that have confirmed they will be changing their financial year-end date […]
April is the busiest month as the end of the financial year looms. As firms rush to get bills out and paid, The Lawyer takes a deep dive into key financial hygiene and behavioural issues. The level of cash at Linklaters has fallen by 50 per cent over the past three years, more than any […]
April is the busiest month as the end of the financial year looms. As firms rush to get bills out and paid, The Lawyer takes a deep dive into key financial hygiene and behavioural issues. Law firms are gearing up for the impact of an HM Revenue & Customs-led change to the way equity partners […]
Total revenue in Proskauer’s City office rose by 6 per cent in 2022, with its work for the firm’s core asset manager client base taking turnover from last year’s peak of $124.5m to a new record of $132.2m. The rise is in line with a similar 6.1 per cent increase globally, with Proskauer’s firmwide revenue […]
How equity partners are taxed is being reformed, piling pressure on firms’ financial reserves
Revenue fell by 5.5 per cent at Debevoise & Plimpton’s London office last year, from $173m to $163.3m. Average revenue per partner in London was also down, by 16 per cent to $7.4m, while average revenue per lawyer in the City fell by 12.2 per cent to $1.3m. Globally, Debevoise narrowly avoided posting a drop […]
Watson Farley & Williams is aiming to drastically reduce its lockup to improve its cashflow and increase working capital ahead of new HMRC rules on tax payments that will see firms hit by effectively a double tax bill. Managing partner Lindsey Keeble said the firm was unlikely to seek new sources of funding to meet […]
Mishcon de Reya has emerged as one of the first UK firms to confirm it is changing its financial year-end as a result of new HMRC rules relating to basis period reporting. Unusually, Mishcon currently has a 9 April year-end while the majority of UK firms account to 30 April. In 2024, Mishcon will move […]
When it comes to the offices of the future, the key word is ‘sharing’. Sharing space, sharing amenities, sharing views of a rapidly morphing and increasingly law firm dominated City landscape in which the days of the oak-panelled corner office are numbered. Take Milbank. At the tail end of 2021, it moved into 100 Liverpool […]
The London office of McDermott Will & Emery grew its revenue by around a third in 2022 to £69m, the result of significant investment in headcount and a focus on areas such as healthcare, disputes and private equity. The growth in 2022 follows a similar expansion in 2021 during which McDermott’s City office revenue rose […]
There aren’t many markets that have seen as much upheaval in such a short space of time as energy, infrastructure and natural resources. Russia’s invasion of Ukraine almost a year ago is the obvious reason for recent market turbulence, but there’s also the omnipresent climate crisis. The transition to net zero emissions is the major […]