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• NY firm pays $574,000 in compensation for age-discrimination

  May 17 2012 New York law firm Kelley Drye & Warren has agreed to pay $574,000 in compensation to former equity partner Eugene T D’Ablemont, who was forced to give up his equity in... more

• Australian firm Slater & Gordon gets approval for £53.8m acquisition of UK firm RJW

  May 02 2012 The Solicitors Regulation Authority has granted regulatory approval to Australian firm Slater & Gordon for its £53.8 million acquisition of UK law firm Russell Jones &... more

• Irwin Mitchell elevates six to partnership; offers equity to non-lawyer

  Apr 18 2012 Irwin Mitchell has elevated six to the partnership in its annual promotions round, with four joining the salaried partnership two joining the equity partnership in its... more

• NY firm Kelley Drye & Warren agrees to end compulsory de-equitization at 70

  Apr 13 2012 New York law firm Kelley Drye & Warren has agreed to end its policy of requiring partners to relinquish their equity in the firm at the age of 70. The firm made... more

• Age discrimination suit challenges de-equitization of partners

  Mar 13 2012 The issue of how law firms handle older lawyers who wish to keep working is becoming more acute as more lawyers challenge mandatory retirement policies. An age... more

• Covington & Burling posts increase in revenue and average profits per partner

  Feb 24 2012 US firm Covington & Burling has reported a 5.1 per cent increase in total revenue, going from $581.5 million in 2010 to $611 million in 2011. Average profit per equity... more

• 2012 may be more challenging than 2009, says legal industry advisory

  Feb 20 2012 The new client advisory from Citi Private Bank’s Law Firm Group and the Hildebrandt Institute has some disheartening news for the legal sector: “Unfortunately, the... more

• Scottish firms still struggling in a difficult market

  Jan 15 2012 A new report from management consultants PwC has observed that Scottish Law firms are still struggling under difficult market conditions and regulatory changes, with... more

• Herbert Smith to de-equitize 15 partners

  Dec 12 2011 Herbert Smith is set to de-equitize around 15 partners – ten per cent of its total equity partnership – in order to reach profits on the same scale as the so-called... more

• Linklaters may shear 35 from equity partnership

  Dec 08 2011 Linklaters is set to take the shears to its partnership for the second time in three years, and has announced a major restructuring to its London partners. Some within... more

• Top earner at Linklates takes home £2.2m

  Dec 03 2011 The top earning partner at Linklaters took home £2.2m in the last financial year, according to accounts just published by the firm. According to RollOnFriday the sum... more

• Hogan Lovells moves toward merit-based system across the board

  Dec 03 2011 Transatlantic firm Hogan Lovells is preparing for a full review of partner compensation as it moves toward integrating the pay structures of the merged firms Lovells... more

• Top UK firms take shears to equity partnerships

  Nov 04 2011 Top UK firms are taking the shears to their equity partnerships, according to a new survey by professional services firm Smith & Williamson. Of the 20 firms in the UK... more

• Indian firm Amarchand Mangaldas promotes 5 to equity partnership

  Oct 17 2011 Amarchand Mangaldas has promoted five lawyers into the lockstep equity partnership and has appointed 11 practice heads. The firm aims to have a headcount of 1000... more

• Former Halliwells partners prepare to sue equity partners

  Oct 17 2011 A group of former partners from defunct firm Halliwells are preparing to intiate proceedings against equity partners regarding decisions that were made immediately... more

• Financial penalties encourage Barlows equity partners to stay put after merger

  Sep 15 2011 The merger deal between Barlow Lyde & Gilbert and Clyde & Co includes financial penalties for any Barlows equity partners that leave the combined firm any time in the... more

• UK firms struggle with diversity in equity partnerships

  Sep 12 2011 Efforts to remedy the imbalance between male and female equity partners in the UK’s largest firms don’t seem to be making much progress, according to the annual ‘UK... more

• Are clients really getting better value from law firms?

  Aug 24 2011 This is an interesting opinion piece that interrogates the response given by large law firms to client demands for greater efficiency. It points out that for all... more

• Berwin Leighton Paisner bumps up performance component of pay

  Aug 24 2011 Berwin Leighton Paisner has announced changes to the way that it remunerates equity partners, putting greater emphasis on performance when distributing the firm’s... more

• Profits at top US firms called into question

  Aug 22 2011 The Wall Street Journal has reported that over half of the top US law firms may have overstated their average profits per equity partner, and around 22 per cent of the... more

• A good year for top equity partners: the million pound club is growing

  Aug 15 2011 The top end of the pay scale in the legal profession is making a recovery, according to a survey conducted by The Lawyer to assess how many equity partners are seeing... more

• Ashurst launches flexible working arrangements for equity partners

  Aug 03 2011 Ashurst has initiated a new flexible working scheme for equity partners. The scheme will allow equity partners to work part-time and be paid on a pro-rata basis... more

• DLA Piper considers overhauling partnership structure

  Jul 20 2011 DLA Piper is considering an overhaul of its firmwide partnership structure, and has planned to discuss a range of options including a shift to an all-equity... more

• Top London firms report strong growth

  Jul 13 2011 Top London firms have reported a good year, with revenues and profits on the up. Allen & Overy posted a 7 per cent increase in revenue to £1.12bn, and an 8.3% hike... more

• Scottish firm Dundas & Wilson posts marginal increase in turnover

  Jul 05 2011 Scottish law firm Dundas & Wilson has reversed a two-year decline in turnover to post a slight rise in the 2010-11 financial year. The firm recorded a 2 per cent... more

• SNR Denton has a bumpy ride with falling profits and partner defections

  Jul 04 2011 SNR Denton is facing difficult times in the wake of its transatlantic merger. The firm has reported an 8 per cent drop in revenue to £154.4million for the 2010/11... more

• London firm Devonshires breaks its promise to pay bonuses

  Jun 27 2011 RollOnFriday has reported that London law firm Devonshires will not be paying the bonuses promised to associates last year. The bonus scheme was introduced to... more

• Simmons introduces junior equity rank

  May 18 2011 Simmons & Simmons has announced the introduction of a new tier of fixed-share partners. Under the three-tier partnership structure, salaried partners will be... more

• Partner challenges Canadian law firm on mandatory retirement age

  Apr 27 2011 Mitch McCormick, 66, is making a challenge to the compulsory retirement policy at Fasken Martineau DuMoulin, the Vancouver law firm where he has worked for 40 years.... more

• SNR Denton to review UK strategy in the face of falling profits

  Apr 25 2011 SNR Denton is conducting a review of its UK business strategy in the face of a huge drop in profits per equity partner. UK partners could see profits drop to as... more

• Wragge & Co forgoes partner promotions in favor of lateral hires

  Apr 07 2011 Wragge & Co has announced that it will not promote any lawyers to its all-equity partnership this year, choosing instead to focus on lateral hiring and the development... more

• Debevoise maintains strong record on women in partnership

  Apr 01 2011 Debevoise & Plimpton has announced the promotion of three lawyers to the partnership, two of whom are women. Looking back over the past four years, the firm’s recod on... more

• Ashurst increases the number of partners at the top of its lockstep system

  Mar 30 2011 Ashurst has reordered its partnership, more than doubling the number of partners at the top of its lockstep. The decision to increase the size of the top level group... more

• Boies Schiller posts 3% revenue boost

  Mar 22 2011 Despite increasing its gross revenue by three per cent to $305 million in 2010, litigation firm Boies, Schiller & Flexner saw profits per partner fall by 11 per cent... more

• Shearman & Sterling see revenues and profits fall in 2010

  Mar 02 2011 Shearman & Sterling has had a tough year, seeing revenue drop by 8 per cent from $801m in 2009 to $737m in 2010, while profits per equity partner fell from $1.74m to... more

• The secret to UK firm Slaughter and May's success

  Feb 21 2011 Slaughter and May is among the most profitable law firms in London, paying its 126 partners an average of £1.84m for their efforts despite posting sales at £439.5m,... more

• Latham & Watkins reports revenues at 2008 levels

  Feb 18 2011 Latham & Watkins saw a bump in revenue in 2010, which rose almost six per cent to $1.929 billion - roughly equivalent to its 2008 gross. Revenue per lawyer rose almost... more

• Hogan Lovells posts first results after merger

  Feb 17 2011 Hogan Lovells has posted its first financial results since its merger last year, with average profits per equity partner climbing around 10% from $1.042 million to... more

• After a bumper year in 2009 Crowell & Moring posts more modest results

  Feb 17 2011 After reporting one of the best financial years in its history in 2009, Crowell & Moring has seen profits and revenues fall somewhat in 2010. The firm’s gross... more

• King & Spalding increases revenue and profits

  Feb 14 2011 King & Spalding increased revenue by 6 per cent to $718.2 million in 2010, while profit per equity partner jumped almost 18 per cent from $1.47 million in 2009 to... more

• Covington reports flat revenue and 3.8% drop in profits

  Feb 10 2011 Covington & Burling has reported gross revenue of $582.5 million in 2010, a decrease of less than 1 per cent from the $583 million in takings from the precious year.... more

• CMS Cameron McKenna asks four partners to leave

  Feb 10 2011 Four partners at CMS Cameron McKenna have been asked to leave, and several additional partners have been moved down the firm’s equity ladder as result of a... more

• Pay gap widens at large firms

  Feb 09 2011 Interesting article here about the increasing compensation gap at some large law firms – where star attorneys can be earning up to 10 times the amount paid to other... more

• Taking the shears to equity partnerships in 2011

  Jan 19 2011 2011 will be another slow year for law firms, according to the 2011 Client Advisory released by consultants at Hildebrandt Baker Robbins and the Citi Private Bank... more

• Reed Smith and Thompson & Knight break off merger talks

  Jan 07 2011 Merger talks between Reed Smith and Thompson & Knight have been called off, after months of negotiation and due diligence failed to produce agreement. "We are very... more

• Washington law firms protect profits at all costs

  Dec 13 2010 Law firms in the Washington area in the US managed to increase profits for equity partners in 2010, In spite of flat revenue, by cutting expenses. A study by the... more

• CMS Cameron McKenna rumoured to be shearing partnership

  Dec 10 2010 Reports have emerged that CMS Cameron McKenna is taking the shears to its partnership, with a small number of partners being made redundant and a large number being... more

• Survey predicts more cuts to equity partnerships

  Dec 01 2010 The days of cuts to the partner ranks are not over, according to a new survey onducted by the Amercan Lawyer. The survey reports almost 70 per cent of the 124... more

• Linklaters to give German partners the same remuneration as EU partners

  Nov 16 2010 Linklaters has announced that it plans to move its German partners to the same remuneration package as their UK counterparts after next year’s pay review. The move is... more

• Survey reports on the salaries of Washington lawyers

  Nov 11 2010 The Washingtonian magazine has released a salary survey issue, reporting on the salaries of all manner of professionals in the US capital, and including a section on... more

• Going backwards on diversity in top US firms

  Nov 09 2010 A new survey from the National Association of Women Lawyers (NAWL) indicates that things are getting even tougher for women in the top 200 law firms in the US.... more

• Clifford Chance reports 25% increase in PEP after cutting ranks

  Oct 13 2010 Clifford Chance has reported that profit per equity partner shot up to £933,000 last year – an increase of 25 per cent on the previous year, when profit per equity... more

• Diversity outcomes sacrificed in tough economic climate

  Oct 01 2010 Diversity efforts by US law firms have stalled, according to new data from the Minority Corporate Counsel Association and Vault.com. The 2009 summer intake had the... more

• UK firm Bevan & Brittan in third redundancy round

  Sep 24 2010 UK firm Bevan Brittan has confirmed reports that a third round of redundancies is imminent. The firm will make up to 26 employees redundant – half of them fee-earners... more

• Linklaters zeros in on US high-yield practice

  Sep 13 2010 Linklaters has hired counsel Mark Hageman, of Cravath Swaine & Moore, in order to boost their capability in the high-yield market. High-yield specialists seem to... more

• US Survey predicts that still more equity partners face the axe

  Sep 08 2010 A new report from Citi Private Bank predicts that law firms will cut more equity partners in the near future. The survey of 187 law firms shows that revenues have... more

• ‘Diversity’ in US law firms is a sham, according to report on female equity partners

  Sep 07 2010 A new report takes a detailed look at female equity partners in major law firms, using survey data to build a statistical picture of professional prospects for women... more

• Many Halliwells partners are still in the hole

  Sep 03 2010 Some Halliwells partners still owe on loans of more than £500,000, after borrowing money to finance contributions to the firm over the past few years. The troubled... more

• Simmons & Simmons posts double figure drop in revenue, PEP

  Aug 04 2010 Simmons & Simmons has posted an 11.3% drop in profits per equity partner for the 2009-10 financial year. Equity partners took home an average of £461,000, down almost... more

• Freshfields appoints Simpsons counsel to equity partnership

  Jul 27 2010 Freshfields Bruckhaus Deringer has boosted its high-yield practice with the hire of Simpson Thacher & Bartlett counsel Gil Strauss. Strauss has been taken on as an... more

• Age discrimination suit against Kelley Drye & Warren reopens retirement debate

  Jul 22 2010 Most US law firms have a policy to encourage older partners to retire. They justify the rules on the basis that they make way for younger partners to develop and to... more

• A two-tiered system for associates?

  Jul 21 2010 For the past 20 years, firms have made the distinction between partners with an equity stake in the firm and those without. Justin T. Miller suggests, in the San... more

• Maclay Murray & Spens posts 5.4% drop in revenue while PEP soars by 20.5%

  Jul 19 2010 Scottish firm Maclay Murray & Spens has followed the trend in posting a drop in revenues over a rise in profits per equity partner in the 2009-10 financial year.... more

• Bird & Bird takes out prize as fastest growing UK law firm

  Jul 15 2010 Bird & Bird is the fastest-growing UK top 50 law firm, according to the reported figures over the past five years. Revenues have rocketed upwards despite a tough... more

• Lovells posts 13% jump in PEPs and marginal increase in revenue

  Jul 15 2010 Lovells, the legacy firm operating outside the Hogan Lovells merged entity, has posted a 13 per cent jump in average profit per equity partner which rose from... more

• Shoosmiths posts 70% jump in PEP over 9% fall in revenue

  Jul 15 2010 Shoosmiths has posted a 70 per cent jump in average profits per equity partner for the 2009-10 financial year, with equity partners taking home an average of £256,000,... more

• DLA Piper posts 18% drop in PEP

  Jul 14 2010 DLA Piper has posted a one per cent drop in revenue in the 2009-10 financial year, while profits per equity partner fell by 18 per cent, from £645,000 to £527,000.... more

• Travers Smith posts 50% increase in PEP

  Jul 09 2010 Travers Smith has increased profits per equity partner by 50 per cent, from £470,000 to £705,000, in the 2009-10 financial year. The firm also posted an 11.6 per... more

• Freshfields posts 11% drop in revenue

  Jul 08 2010 Freshfields Bruckhaus Deringer has posted an 11 per cent drop in revenue for the 2009-10 financial year, bringing in £1.14 billion. The average profit per equity... more

• Norton Rose reports 6 per cent drop in PEP

  Jul 07 2010 Norton Rose has released figures for the 2009-10 financial year, revealing a 6 per cent drop in average profit per equity partner to £486,000. The firm’s equity... more

• Allen & Overy launches in Indonesia

  Jul 05 2010 Allen & Overy has launched an office in Indonesia in association with the single partner firm Daniel Ginting Law Firm. The office in Jakarta will be initially be run... more

• Linklaters cites depressed M&A market for 8.8% drop in revenue

  Jul 05 2010 Linklaters has reported an 8.8 per cent decline in revenue for the 2009-10 financial year. The top UK firm attributes the decline to the stalling the global mergers... more

• Allen & Overy reports drop in revenue and hike in PEP

  Jul 01 2010 Allen & Overy has reported a 10 per cent jump in profit per equity partner in the 2009-10 financial year. Revenue fell by four per cent during the same period, and the... more

• Herbert Smith posts modest rise in revenues and PEP

  Jun 29 2010 Herbert Smith has posted figures from the 2009-10 financial year, which show that the firm’s fortunes have stabilized. After 2008-09 saw profit per equity partner drop... more

• Survey anticipates further layoffs for support staff and non-equity partners

  Jun 24 2010 More layoffs are expected in the latter half of 2010, according to a new survey conducted by consulting firm Altman Weil, but there will be fewer layoffs than occurred... more

• Stephenson Harwood sees increase in revenue, while PEP drops

  Jun 23 2010 Stephenson Harwood has posted an 8 per cent increase in revenue in the 2009-10 financial year, clearing the £90m mark for the first time. In the same period the... more

• Pinsent Masons: 4% drop in revenue; 32% jump in profits for equity partners

  Jun 23 2010 Pinsent Masons has posted a 4 per cent drop in revenue over the 2009-10 financial year, from £215m in 2008-09 to £206m. The same period saw an increase in profits per... more

• Nortin Rose posts marginal drop in revenue

  Jun 21 2010 Norton Rose has reported a turnover marginally lower than that of last year. The UK firm saw revenues of £307 million, a 2 per cent drop from last year’s £314 million... more

• SJ Berwin posts 7% drop in revenue, 9% increase in PEP

  Jun 17 2010 SJ Berwin has announced a drop in revenue in the 2009-10 financial year of 7 per cent, with income falling from £184 million to £171 million. This year’s figures are... more

• Milbank hires top asset finance partner from DLA Piper

  Jun 16 2010 US firm Milbank Tweed Hadley & McCloy has boosted its London office with the lateral hire of DLA Piper asset finance partner James Cameron. Cameron acts for banks,... more

• Berwin Leighton Paisner on the up

  Jun 15 2010 UK firm Berwin Leighton Paisner bucked the trend last financial year, posting an increase in both turnover and profit, with income topping £191 million for the first... more

• Watson Farley & Williams reports record revenues

  Jun 09 2010 Watson Farley & Williams has posted a growth in revenue of 9 per cent, going from £73.5m in 2008-09 to £80.2m this financial year. This is the third year of very... more

• Addleshaw Goddard reports profits slightly down, PEPs slightly up

  Jun 04 2010 Addleshaw Goddard has reported a slight drop in revenue this financial year – falling by three per cent from £173.1m to £167.5m. In the same period the firm's equity... more

• Oslwang PEPs up 38 per cent, despite of modest growth

  Jun 03 2010 Olswang has posted a small increase in turnover for this financial year, up 2 per cent from £89.2m to £91m. Meanwhile the average profit per equity partner has jumped... more

• Irwin Mitchell appoints two non-lawyers to equity partnership

  May 28 2010 Irwin Mitchell has become one of the first top UK firms to convert to Legal Disciplinary Partnership (LDP) status, after making up two non-lawyers to the firm's equity... more

• PEPs are up at Denton Wilde Sapte, despite drop in revenue

  May 20 2010 Equity partners at Denton Wilde Sapte have had a pretty good year, despite a drop in total revenue. The average profit per equity partner grew by 22 per cent for the... more

• Kelley Drye & Warren drops mandatory retirement policy

  Apr 09 2010 Kelley Drye & Warren has dropped its mandatory retirement policy following pressure from the US Equal Employment Opportunity Commission. Under the former policy,... more

• Davis Polk & Wardwell report 10% increase in profits for equity partners

  Mar 15 2010 2009 was a tough year for many law firms, but Davis Polk & Wardwell has bucked the trend, reporting a 10% increase in profits per equity partner (from US$1.9M in 2008... more