Ex-Goldman banker says he became a ‘hero’ for 1MDB deals, after embezzling billions from Malaysian government February 17, 2022 A Goldman Sachs banker, who made almost $700m (£515m) through his involvement in the 1MDB scandal, has said “greed and ambition” motivated him to embezzle billions from the Malaysian government, while testifying against Roger Ng, his former Goldman Sachs colleague. Speaking at a Brooklyn Court, Tim Leissner, the former head of Goldman’s Southeast Asia division, [...]
New York firm offers new lawyers unprecedented $235,000 salaries – $20,000 more than closest rivals February 17, 2022 Brewer, Attorneys & Counselors is set to pay its newly qualified lawyers an unprecedented $235,000 (~£172,500) a year, in offering $20,000 more than rival US firms. The firm’s decision to up pay for its first-year associates to $235,000 a year comes after New York firm Milbank sparked a fresh bidding war in January, after raising [...]
Barrister Jolyon Maugham QC apologises for falsely claiming court victory against Matt Hancock February 17, 2022 The well-known London-based barrister Jolyon Maugham QC made a rare apology yesterday for falsely claiming he had won a High Court case against former Health Secretary Matt Hancock. Maugham said his office was “under-staffed” when a Twitter user wrote that his campaign group – The Good Law Project – had falsely claimed victory. On Tuesday, [...]
DLA Piper considering full merger between US and UK partnerships February 16, 2022 DLA Piper is considering plans for a full merger between the US and international arms of its business, Financial News has reported. Since being formed out of a merger between three law firms in 2005 – one from San Diego, one from Baltimore, and one from Britain – DLA Piper has worked as two separate [...]
Law firms now more willing to hire less skilled candidates in face of nationwide skills shortage February 16, 2022 Law firms are now increasingly willing to hire candidates that do not have the skills they were looking for, as the battle for talent continues. Three quarters (75 per cent) of law firms said they are now willing to be flexible when it comes to a candidate’s skillset, compared to 57 per cent of financial [...]
Barristers’ wigs are an ‘outdated’ symbol of ‘poshness’ top QC says February 16, 2022 One of Britain’s top QCs has said the UK should stop forcing barristers to wear wigs after claiming they are a symbol of “poshness” that have “no place” in the UK’s modern legal system. In an article in Mail+ Leslie Thomas QC, one of the UK’s most high-profile barristers, said wigs have hindered the Bar’s [...]
Criminal barristers to hold strike ballot after being told to ‘be patient’ by Dominic Raab February 16, 2022 Criminal barristers will vote on whether to strike at the end of this month, after Dominic Raab told barristers to “be patient” while waiting for legal aid reform. The Criminal Bar Association (CBA) will hold a strike ballot on 28 February, after the government failed to put forward its plans to reform criminal legal [...]
Belgium formally introduces four day week and creates right for employees to ignore bosses after hours February 16, 2022 The government of Belgium is moving ahead with plans to formally introduce a four day week in the country. Under a series of labour market reforms, announced yesterday, works in Belgium will soon be allowed to opt for a shorter work week or more flexible schedules. Moreover, the proposals create a right for Belgians to [...]
Half of retirees worry about running out of money but most have not sought out advice February 16, 2022 Almost half of retirees are worried about running out of money in their retirement. Yet more than three quarters have never sought out professional advice, according to research from investment company Abrdn. The Abrdn research shows that 48 per cent of retirees are worried about running out of money in retirement. At the same time, [...]
Liontrust faces shareholder rebellion over plans to hike executive salaries February 15, 2022 London-listed asset manager Liontrust is facing a shareholder rebellion over plans to hike the salaries of its C-Suite executives as Britain faces rampant inflation and a widespread cost-of-living crisis. A significant proportion of Liontrust’s shareholders are expected to vote against the asset manager’s new remuneration policy, at a specially convened general meeting tomorrow, Sky News’ [...]