Osborne Clarke, a prominent relations law firm, has seen a decline in its UK net profit along with a drop in the profit per equity partner (PEP) in the compared fiscal years 2022/23 to 2021/22. Despite showing an increase in the firm’s international revenue, PEP has slipped by almost 14%, declining to £687,000 from £796,000…
In a rapidly changing legal market, Alternative Legal Service Providers (ALSPs) are presenting a credible threat to conventional law firms in Asia. According to a recent survey by Axiom Law, an alternative legal service provider, over 90% of the general counsel that were surveyed anticipate substantial cuts to their legal budgets due to global economic…
Metro Bank, a significant player in the high street banking industry, is commencing a review of its legal panel, marking the first such examination in five years. This action indicates a possible reshuffling of which law firms the bank collaborates with in its operations. Metro Bank expanded its legal panel from eight to twelve firms…
China’s renowned law firm, Haiwen & Partners continues to bolster its reputation with the notable addition of three senior partners to its Greater China capital markets practice, formerly from Herbert Smith Freehills. This move comes as part of the firm’s strategy to develop and strengthen its capital markets capabilities. The new partners, Tom Chau, Zhong…
In the ever-evolving landscape of international law firms, a merger between magic circle firm Allen & Overy (A&O) and international law firm Shearman & Sterling is under active discussion. As these two industry titans negotiate, it’s speculated that the comparatively simpler European integration could be “the easiest part of the whole deal.” Surprisingly, when comparing…
Scotland’s legal scene is abuzz with exciting developments. It’s home to the first law firm to cross the £100 million revenue threshold, a new U.K. firm has just launched, and another law firm has made a significant hire. These events cumulatively signal a growing interest in Scotland’s legal market, despite the overall UK growth rate…
Renowned legal firm, Eversheds Sutherland has maintained steady growth despite challenging global economic conditions. In their recent financial results for the fiscal year 2022-23, the company’s non-US operation reported moderate growth in both revenue and profit per equity partner. For the second consecutive year, the firm’s revenue grew by 8 percent, escalating from the previous…
The UK’s government intelligence, security and cyber agency, Government Communications Headquarters (GCHQ), and France’s national cybersecurity agency have issued unprecedented warnings over cybersecurity risks specifically for the legal sector. This comes in light of an escalating number of major law firms becoming targets for cyberattacks. Marking the third such caution in five years and the…
Portuguese law firm CS’Associados has announced the appointment of a new head for its European and competition area. The position was vacated by Margarida Rosado da Fonseca, who left the firm at the end of February, and has now been filled by Gonçalo Machado Borges, formerly of rival firm Morais Leitão. Prior to his move…
International law firm Morgan Lewis & Bockius is set to establish its third mainland China office in Shenzhen, following approval from the Chinese Ministry of Justice. The Shenzhen office will accentuate the firm’s expertise in intellectual property law, serving its technology, biotechnology, and life sciences clientele and strengthening their connections to the Chinese market. Shenzhen-based…
In a recent event which highlights the vulnerability of relying on third-party applications, hackers were able to exploit a weak point in a frequently used file transfer application, thereby gaining access to the internal data of several large organizations. The high-profile organizations affected include three Am Law 50 law firms: Kirkland & Ellis, K&L Gates,…
Legal education is standing at the precipice of a new era, with advanced technologies ready to reshape the manner in which law students are educated and evaluated. Not only are these technologies transforming educational methodologies, but they’re also creating a parallel evolution in the legal profession. As such, legal educators are being pressed to reconsider…
The Attorney General has announced the appointment of Nick Ephgrave, a former police officer, as the forthcoming director of the Serious Fraud Office (SFO). Ephgrave, previously an assistant commissioner of the Metropolitan Police Service, will commence his duties in September, succeeding Lisa Osofsky whose five-year term is ending. Ephgrave will also undertake an initial five-year…
London-based law firm, Trowers & Hamlins, is making preparations to expand its global footprint by opening an office in Singapore. The firm, renowned for its expertise in Islamic finance, confirmed the news to Law.com International. In its quest to establish a Foreign Law Practice (FLP) in Singapore, Trowers & Hamlins has lodged an application with…
In today’s highly competitive and rapidly evolving digital landscape, law professionals are grappling with an interesting conundrum as they seek to impress clients while managing risk exposure. A technology at the forefront of this dilemma is Generative Artificial Intelligence or Generative AI. Generative AI, a cutting-edge technology, can create content such as articles, poems, or…
The competitive search for talent amongst Australian law firms has seen a shift since the previous year with firms now pivoting their efforts from recruitment to retention. Rather than vying for new hires, the focus has been drawn to ensuring the stability of current teams and maintaining a strong workforce. Leveraging appealing benefits has become…
Cuatrecasas, a renowned Spanish law firm, has expanded its practice in Peru with the addition of two partners. The firm’s expansion strategy is geared towards harnessing the increasing global demand for copper and other natural resources, as Peru is notably mineral-rich. The newly recruited partners include Ina María Drago, who has been appointed to spearhead…
An atypical arbitration case linked to a long-standing dispute over a 19th-century land deal has drawn the government of Malaysia and two top independent European firms into a contentious legal battle with one of the world’s largest litigation funders. The case at present is adding fuel to the ongoing discussions centered around the regulation of…
Esteemed law firm Goodwin Procter has reinforced its technology and life sciences practice in Paris with the addition of a three-lawyer team led by a partner. The team specializes in M&A, venture capital, and private equity, all of which are crucial practice areas for the firm as per Law.com. Xavier Leroux joins as a partner…
China’s regulatory framework has taken a new turn with its freshly minted law aimed at thwarting espionage. This revision has sparked anxiety within the U.S. government, corporate executives, and law firm leadership due to its wide-ranging implications for foreign businesses. The espionage law, originally proposed for public consultation in December, has received an extensive overhaul….
HFW, a notable international law firm, has shown remarkable growth in its recent financial results. The firm’s revenue swelled by over 13% in the 2022/23 financial year, hitting £225.3 million. This follows a fairly strong rebound from a 2% decrease in 2022. Profit per equity partner reached an impressive £786,000 compared to £669,000 in the…
Taylor Wessing, the multinational law firm, has initiated plans to expand operations in the MENA region by launching an intellectual property practice in Dubai. The firm’s latest recruit, Munir Suboh, previously head of IP at local firm BSA Ahmad Bin Hezeem & Associates, will be instrumental in this new development. Suboh also brings experience in…
Following a long and fruitful career at two of the world’s leading law firms, a group of tenured lawyers have taken the next step in their careers by establishing their independent practice in Tokyo. Aquaxis Law Offices was launched recently by former Clifford Chance and K&L Gates lawyers, including Japanese lawyer Ayuko Nemoto. Nemoto, who…
Bryan Cave Leighton Paisner (BCLP), a prominent international law firm, has been withdrawn from a U.S. class action lawsuit concerning a data breach involving Mondelez’s employee records. However, the firm has become the target of another suit connected to the same incident. The former lawsuit was brought forward by Augustyn Wiacek, a past employee of…
In an unfolding development within the legal sector, Axiom DWFM, the firm which recently acquired the Ince Group, is set to purchase Plexus Law. This comes after the latter filed a notice expressing its intent to appoint administrators, following a withdrawal of investor support in June. The future of the insurance-focused outfit, Plexus, hung in…