City law pay war: Herbert Smith Freehills throws £105k at junior lawyers December 3, 2021 The ‘silver circle’ law firm has waded into the ongoing bidding battle for junior lawyers in the City by raising newly qualified lawyer salaries to £105,000, according to reports. Although their current “total compensation package” is £107,000, this includes both base salary and their bonus. But with the new announcement, Herbert Smith Freehills (HSF) lawyers [...]
Partner pay of £760m puts BDO ahead of Big Four rivals EY and KPMG as challenger firm sees revenue surge December 2, 2021 Partners at BDO saw their profits increase to over three quarters of a million pounds, putting them ahead of their peers at rival firms EY and KPMG. Profit per equity partner before tax increased to £760,000 at BDO following a 14 per cent drop last year, while EY partners were paid an average of £749,000 [...]
Fidelity chief exec Anne Richards to chair TheCityUK board December 2, 2021 The chief executive of Fidelity International has today been named as the next board chair of the Square Mile’s most influential lobbying body. Dame Anne Richards will take over the position from Mark Tucker, chairman of HSBC Holdings, who will step down at the end of May 2022 after three years in the role. Richards [...]
Female lawyers on the clock for 100 hours more than male peers annually December 1, 2021 Unsurprisingly they are also among the least happy with the number of hours they work, according to a new report on law firms. The recent report by Thomson Reuters found that women practicing law were, on average, putting in 100 hours more than their male colleagues every year. One reason pointed out by Dana Denis-Smith, [...]
UBS swipe new finance chief Sarah Youngwood from rival JPMorgan December 1, 2021 UBS have pinched a JPMorgan executive as its new chief financial officer, as part of major shake-up of senior management at the biggest bank in Switzerland. The announcement comes shortly after UBS also named Colm Kelleher, former president at Morgan Stanley, to succeed Axel Weber as chairman of the world’s biggest wealth manager when his [...]
KPMG in danger of being banned from bidding for government contracts December 1, 2021 KPMG have been threatened by the government with a ban on bidding for public contracts if there are any more scandals at the Big Four consulting firm, according to reports. The Cabinet Office issued its warning in a letter to KPMG, according to the Financial Times, which first reported the news. The ominous letter, which [...]
Magic Circle: Slaughter & May poaches first COO from Freshfields amid executive reshuffle December 1, 2021 Slaughter & May have nabbed Jill Hoseason, the global chief operating officer of their magic circle rival Freshfields Bruckhaus Deringer, as their first ever COO, in a leadership shakeup. Earlier this year Slaughter and May, which boasts more FTSE 350 clients than any other law firm, announced plans to restructure its management team, a move it said [...]
Marlowe profits rocket as firm raises full year guidance December 1, 2021 Business critical services firm Marlowe announced this morning that its profits have rocketed in the six months ended 30 September. The group’s operating profit has registered a 122 per cent growth compared with the same time last year, going from £7.4m to £16.4m, while its adjusted EBITDA margin has hiked by 300 bps, from 14.8 [...]
BCLP and Mishcon jump into pay war for junior lawyers with salary hikes November 30, 2021 Two more City law firms have joined the increasingly crowded tussle for junior lawyers by raising salaries to keep up. Bryan Cave Leighton Paisner (BCLP) and Mishcon de Reya announced raises for newly qualified solicitors, who will now take home £95,000 and £83,000 respectively. For BCLP newly qualified solicitors the new salary represents an eight per [...]
On the job hunt: These are the hardest vacant roles to fill in the UK November 30, 2021 Veterinary surgeons, senior auditors and HGV technicians are among the hardest jobs to fill in the UK, according to new research. Only 16 per cent of all job postings on job site Indeed fall into the ‘hard to fill’ category, meaning they have stayed on the website for over two months but over half of [...]