Allianz to vote against executive pay policies that are not linked to ESG targets February 22, 2022 German asset manager Allianz Global Investors has said it will vote against major companies that fail to link their executive salaries to ESG metrics. The Munich headquartered multinational, which controls €2.4trn in assets, warned major UK and EU companies that it will vote down any remuneration policy that is not linked to ESG aims. Allianz’ [...]
Professional services industry sails through pandemic with strong M&A winds February 22, 2022 The professional services industry has sailed through the pandemic with significantly strong fundraisings and acquisitions, according to the latest research. Private UK fundraising soared 78 per cent higher last year than in 2020, and sits some 70 per cent higher than pre-pandemic figures, analysis by Arden Partners has found. Meanwhile, buyouts garnered a combined value [...]
Hogan Lovells posts ‘strongest overall results in history’ on the back of M&A boom February 22, 2022 Partners at Hogan Lovells are set to receive £1.8m, the law firm said today, after it posted record global revenues of almost £1.9bn for the financial year 2021. Anglo-American law firm Hogan Lovells today posted record revenues of £1.895bn for FY 2021, on the back of booming demand for its M&A services, following a record [...]
UK strikes compensation deal with Nigeria following years-long global fraud probe February 22, 2022 Over £200,000 in compensation obtained by the Serious Fraud Office (SFO) investigation into a company called Amec Foster Wheeler Energy will be transferred to Nigeria after a UK-Nigeria Memorandum of Understanding was signed today, the SFO said this afternoon. “In total, £210,610 will be transferred by the UK Government, with the funds supporting three key [...]
Lawyers are just as miserable as everyone else, but are considerably more likely to have a drinking problem February 21, 2022 Lawyers are not any more miserable than people working in other professions, such as medicine or dentistry, according to new research from Yale University. However, lawyers are significantly more likely to have a drinking problem. New research from Yale Law School found that lawyers are marginally less likely to suffer from a serious mental [...]
Gunnercooke becomes first UK law firm to take payments in cryptocurrency February 21, 2022 London law firm Gunnercooke has become the first major UK headquartered law firm to accept payments in the form of cryptocurrency. In a statement, the City of London litigator said it had partnered with British cryptocurrency exchange Coinpass, to accept payments in the form of both Bitcoin and Ether. Gunnercooke’s decision to begin accepting payments [...]
Law firms match investment banks in handing out UK’s highest graduate salaries February 21, 2022 The City of London’s law firms are now the UK’s highest paying graduate employers, according to new figures from High Fliers, which show UK law firms have now matched investment banks in offering graduates average salaries of £50,000 a year. The graduate salaries paid out by Britain’s major law firms are now on par with [...]
City watchdog FCA looking to hire hundreds of new staff to get grip on consumer credit market February 21, 2022 The financial services watchdog is recruiting for a number of senior roles in a push to expand its oversight and supervision of the City’s credit space. The Financial Conduct Authority, based in Stratford, is looking for a lead supervisor for credit and debt as well as a director for consumer finance. In the publicly available [...]
Dechert and Fried Frank up new lawyers pay as salary battle rages on February 21, 2022 Dechert and Fried Frank have both upped the salaries they pay out to newly qualified lawyers, as the pay battle continues. Dechert confirmed to City A.M. that it has increased pay for newly qualified associates in its London office from £125,000 to £140,000. The Philadelphia firm’s 12 per cent pay rise for newly qualified associates [...]
Hogan Lovells to leave its London HQ for new development opposite its current premises February 21, 2022 British-American law firm Hogan Lovells has said it will leave its City of London headquarters, to move to new premises opposite its current building, after London firm PLP Architecture got the go ahead for plans to build 36,000 square metres of office space on Holborn Viaduct. Hogan Lovells said it will move to other side [...]