Weil Gotshal & Manges legal trainees are highest paid in the City after salary hike December 23, 2021 Law firm Weil Gotshal & Manges have raised pay for trainees making them the highest paid in the City, according to reports. First year trainees will earn £60,000, up 20 per cent from £50,000 and second years will now take home £65,000, an 18 per cent rise from £55,000, according to Legal Cheek, which first [...]
US law firm lets lawyers work from home indefinitely December 22, 2021 US law firm Quinn Emanuel have told lawyers they can “work from anywhere” indefinitely, according to reports. The announcement comes as competition among US law firms, to recruit and retain talent, intensifies. While the battle for talent has so far led to a bidding war with lucrative salary hikes, flexible working arrangements appear to be [...]
Court orders ex-chairman of Kazakh paper company to return £120m worth of cash and luxury London properties December 22, 2021 A Kazakh paper and cardboard manufacturer has won a London court order against its former chairman to return £122m, including four luxury London properties worth £50m, in damages following fraud. Yesterday a judgement was reached in the long standing case, between Kazakhstan Kagazy Group and its former chairman Maksat Arip. The Group has been trying [...]
Government’s proposal for independent insolvencies regulator draws criticism from sector December 21, 2021 Insolvency and restructuring trade body R3 have warned of a major conflict of interest issue brought by the government’s proposals to shake up the insolvencies industry with a new independent regulator. The government want to introduce a single regulator, which would sit within government agency Insolvency Service, to oversee the UK insolvency sector. The reforms [...]
Insurer Hiscox names new group chief financial officer December 21, 2021 International insurer Hiscox Ltd has announced former EY partner and industry expert Paul Cooper as its new group chief financial officer. A qualified chartered accountant who trained with PwC, Cooper is currently the interim group chief financial officer of M&G Plc, a FTSE 100 asset manager and life insurer. Cooper will be rewarded with a [...]
Moment of truth: Jury begins deliberations over whether Ghislaine Maxwell was dangerous predator for Jeffrey Epstein December 20, 2021 Whether Ghislaine Maxwell is a dangerous predator who recruited teenagers to be sexually abused by financier Jeffrey Epstein is currently being discussed by a jury in New York City. The jury received the case just before 10pm UK time after two prosecutors and a defence lawyer delivered their closing arguments over a six-hour period. Maxwell, [...]
Simmons & Simmons gift junior lawyers £100k salary December 20, 2021 City law firm Simmons & Simmons will boost pay for its newly qualified lawyers in London to £100,000, in a bid to retain junior lawyers being wooed by other firms with the promise of ever higher starting salaries. The rise marks a jump of £12,000 for newly qualified lawyers at the firm, who currently take [...]
KPMG halts referrals to its former restructuring unit in bid to recover from Silentnight scandal December 20, 2021 KPMG will no longer refer any work to its former insolvency unit, Interpath Advisory, in a bid to mend its reputation after the scandal over the sale of bed manufacturer Silentnight to a private equity firm, according to reports. The Big Four firm was fined £13m by the UK accounting watchdog earlier this year for [...]
Challenger accounting firm DSW shares rise 15 per cent in AIM debut December 16, 2021 Shares in DSW Capital rose 15 per cent today, following the professional services company’s debut on London AIM, marking a warm welcome to the market for the ‘Big Four’ challenger firm. After raising £5m in its initial public offering (IPO), DSW achieved a market capitalisation of £21.4m, based on a share price of 100p. Shares [...]
Linklaters changes pay structure to reward ‘exceptional’ partners as bidding war for talent rages on December 16, 2021 Linklaters plans to shift its traditional pay model for partners so “exceptional” individuals can be held on to with larger salaries. Senior partner Aedamar Comiskey confirmed in a statement that the move, which will apply globally, was backed by Linklaters’ 500 partners through a vote. The main changes include the ability to offer more money [...]