Bingham McCutchen has increased its profit per equity partner (PEP) by 6.4 percent. In monetary figures, this equates to $1.42 million, up from 2007’s $1.335 million. Its global revenue spiked from $743.5 million to $767 million, a 3.2 percent increase.
Source: www.thelawyer.com
Yet another partner has left Cadwalader. Reinsurance attorney Clifford Schoenberg has left the firm for Mayer Brown, officially joining Monday, January 26. Cadwalader has suffered a few defections lately, including Bruce Zirinsky and John Bae, as well as seven London partners who were taken on by Paul Hastings.
Source: www.thelawyer.com
Tags: Cadwalader, Wickersham & Taft LLP
Linklaters announced plans to lay off up to 70 partners and ten percent of associates. This initiative, termed “Linklaters New World”, emphasizing a move to transform the firm into a smaller, tighter, and more profitable group. No one has been let go as of yet, but attorneys in the Eastern European offices may be the most vulnerable. With fewer attorneys, Linklaters will need to be more selective with clients. By letting go of smaller clients, the firm frees up time and resources for larger, higher paying clients.
Source: www.thelawyer.com
Tags: Linklaters LLP
Nixon Peabody will spend $7.4 million to renovate its Rochester, New York office. The firm uses the fourth floor and the 9th-14th floors. Nixon has been a tenant at the Clinton Square Building, located at 1100 Clinton Square, for about 19 years.
Source: www.democratandchronicle.com
Tags: Nixon Peabody LLP
High-yield specialist Gary Brooks has joined the New York office of Clifford Chance. Brooks, previously a partner with Cahill Gordon & Reindel, has experience in leveraged lending, debt restructuring, securities offerings and leveraged acquisition finance. He joins Clifford Chance just one week after the addition of ex- FTC general counsel William Blumenthal.
Source: www.legalweek.com
Tags: Clifford Chance LLP | New York
Arent Fox reported a 10.15 percent growth in revenue for 2008, totaling $222,500,000. The firm’s profits per partner, on-the-other-hand, have stagnated with an increase of only .13 percent. The tremendous growth has been attributed to real estate lateral moves made in September ’08.
Source: www.legaltimes.typepad.com
Tags: ArentFox Schiff LLP
Freshfields Bruckhaus Deringer has established a litigation practice in their US offices through the addition of three partners. Aaron Marcu and Adam Siegel were previously with Covington & Burling in New York, while attorney Benito Romano joins from Willkie Farr & Gallagher. Marcu was coordinator of Covington’s white collar defense group. Siegel, formerly at Convingotn, defended clients involved in government investigations. Romano chaired the white collar defense group at Wllie Farr. The three partners will together launch Freshfields’ complex litigation and white collar defense and investigations practice based out of New York.
Source: www.thelawyer.com
Tags: Freshfields LLP | New York
WilmerHale has decided to widen its Asia network with the launching of a Shanghai office. The process has begun to acquire a permit to practice in Shanghai. WilmerHale currently has an office in Beijing and is even considering adding offices in Asia.
Source: www.thelawyer.com
Tags: Wilmer Cutler Pickering Hale and Dorr LLP | Shanghai
White & Case and WilmerHale have each announced good news: increase in their global revenues. The former made $1.3 billion in 2007, a 7 percent raise compared to last year’s $1.46 billion. WilmerHale, on the other hand, had only a 1 percent increase. The firm made $940 million in 2007 and $955 million in 2008. Revenue per lawyer increased by 5.8 percent to make a grand total of $1,027 million.
Source: www.thelawyer.com
Tags: White & Case LLPCMS Cameron McKenna is searching for the perfect firm to merge with in the UK. Their only requirement? That it be small, profitable boutique. Managing partner, Duncan Weston, assures that no member of the CMS network will be left in the dark when it comes to making the final decision.
Source: www.thelawyer.com
