Katten hikes London associate pay as competition for City law firms soar January 10, 2022 Law firm Katten Muchin Rosenman has raised its pay for London associates by some £10,000 for each experience level today, as the competition for applicants soars in London. The new salary pay-grades, which also accompany potentially lofty bonus’, will see junior lawyers on a £108,000 annual salary. Associates with one year post-qualified experience (PQE) will have [...]
Shipping services provider Clarksons forecasts profit above £69m January 7, 2022 Shipping services provider Clarksons has said underlying profit before tax for 2021 is now expected to hit at least £69m. The London-based firm, which provides integrated services and investment banking capabilities to shipping markets, said December trading was stronger than anticipated. Clarksons said areas to surpass expectations included its broking division, where the sale and [...]
Mischon de Reya hit with record fine after breaching money laundering rules January 6, 2022 Top City law firm Mishcon de Reya has been slapped with a record £232,500 fine, plus costs, after major breaches of money laundering rules. The prestigious firm has agreed to pay a £232,500 fine, in addition to £50,000 towards investigation costs, after a probe from the Solicitors Regulation Authority (SRA). The regulator concluded that certain [...]
European courts dismiss human rights appeal over long-running ‘gay cake’ dispute January 6, 2022 The European Court of Human Rights dismissed a challenge against the long-running "gay cake" case this morning, stating that the claimant had "failed to exhaust domestic remedies" available to him in the UK legal system.
Risks of bias: Ghislaine Maxwell plans to request new trial after revelations jury member was victim of sexual abuse January 6, 2022 Revelations have come to light that one of the jurors in Ghislaine Maxwell’s trial was a victim of sexual abuse. Therefore the socialite, convicted of conspiring to recruit and groom teenage girls to be abused by Jeffrey Epstein, intends to request a new trial. Two defence lawyers — Jeffrey Pagliuca and Laura Menninger — said [...]
Magic Circle: Clifford Chance partner takes home record £3.2m earnings January 5, 2022 Clifford Chance’s highest earning lawyer took home more than £3m in earnings last year, as firms battle it out for the best pay. The Magic Circle law firm confirmed in July that the average take-home for full equity partners has jumped nine per cent to £1.85m each over the last 12 months. Fellow City law [...]
London law firms hired record number of partners in 2021 January 4, 2022 Propelled by record revenue and profits, commercial law firms made 26 per cent more partner hires in 2021 compared to the previous year, according to a new report. Following vaccine rollouts the economy began to recover from the pandemic outbreak in 2020, leading to a boom in dealmaking which has driven demand for law firms [...]
PwC boss warns ‘negativity’ about audit industry will put off new recruits December 29, 2021 The UK head of PwC has warned that continued criticism by politicians and industry watchdogs will damage the audit sector, according to reports. Kevin Ellis, UK chair and senior partner at PwC, said the reputational harm would make it harder to attract and retain auditors, making it more likely for the audit giant to look [...]
London Mayor Sadiq Khan pumps additional £50m into fighting crime as knife and gun incidents across capital start to fall December 29, 2021 The Mayor of London, Sadiq Khan, announced this morning an additional £50m will be reserved to tackle crime across the capital. The investment, which will run over the next three years, will fund grassroots crime prevention projects across the city and promote positive opportunities for Londoners in every borough in the capital through the London Crime Prevention Fund, [...]
Deloitte faces lawsuit by former employee over harassment claims December 29, 2021 An ex-Deloitte female has sued the Big Four firm over allegations that her former employer did not protect her from harassment perpetrated by a male partner and its investigation into the incident was corrupt, according to reports. In court documents seen by the Financial Times, which first reported the news, Katrina Jones called the behaviour [...]