Highest paid partner at magic circle law firm Freshfields Bruckhaus Deringer pockets rising pay, although salaries among staff cut compared to year before January 28, 2016 A magic circle law firm has been splashing the cash on its highest paid partner, although the total amount spent on salaries for staff has been slashed. According to accounts filed at Companies House yesterday for Freshfields Bruckhaus Deringer LLP, the total profit and remuneration allocated to its highest paid partner, which included payments made [...]
Law firm Ashurst begins search for new managing partner after James Collis announces he will be returning to the finance practice in May January 28, 2016 Law firm Ashurst has today revealed that it has started the selection process for its next managing partner, as its current managing partner will step down when his term ends. James Collis, who is coming to the end of his four-year term, has announced that he will be returning to the firm's finance practice once his stint ends [...]
Law firm Slater and Gordon considers closing two of its UK offices, with potential job losses for staff January 27, 2016 Law firm Slater and Gordon is considering shutting two of its UK office, putting 51 jobs at risk. A spokesperson for Slater and Gordon confirmed to City A.M. today: As part of a review of our property portfolio Slater and Gordon has begun assessing the feasibility of closing two of our offices, Failsworth and Derby. [...]
Hours lawyers work on the up as Big Four and other accountancy firms muscle in on legal turf, with partners putting in 263 hours more this year than they were in 2014 January 25, 2016 Partners at law firms in the UK are expected to clocked up 263 more hours in the office this year than they did in 2014, as accountants and other professionals have crept in on their territory. According to research published today by legal recruiter Laurence Simons, law firm partners will work an average of 2,622 [...]
AA to run-off AA Law, its Alternative Business Structure run by Lyons Davidson January 20, 2016 AA has effectively placed its Alternative Business Structure (ABS) venture, AA Law, into run-off, City A.M. can confirm. The breakdown cover provider has decided that the number of customers using AA Law, which was originally set up as a joint venture with solicitors firm Lyons Davidson, does not justify running it as a standalone business. While Lyons [...]
LV= steps into legal market with law firm Lyons Davidson partnership to provide a selection of legal services January 4, 2016 Insurance company LV= today announced it is entering the legal market, working with a law firm to provide a range of legal advice services. By partnering with solicitors firm Lyons Davidson, LV= Legal Services will be able to provide advice on matters including wills, conveyancing and employment law. “Most of us need expert legal help [...]
Draft Investigatory Powers Bill will put legal professional privilege at risk, warns Law Society December 22, 2015 The Law Society today warned that the draft Investigatory Powers Bill could put an end to legal professional privilege as we know it. The Society, which responded to the draft Investigatory Powers Bill Joint Committee consultation today, has called for the new legislation to include explicit protection for those who want to receive confidential advice from their [...]
Law firm fee income inches up for the first six months of the 2016 financial year December 22, 2015 Fee income for the UK's top 100 law firms has crept up in the six months to the 31 October 2015, increasing by 4.5 per cent compared to the same period the year before. According to Deloitte's most recent quarterly legal sector survey, which was released today, fee income also grew 4.7 per cent in the last quarter compared [...]
Technology in the legal sector: How IT can help lawyers provide gold-plated service at bronze level prices December 17, 2015 Some industries have kept pace with the constantly-evolving world of technology. The legal industry, arguably, has not. This is not because the legal sector has not seen value in technology investments – the root of under-investment in IT stems from the global financial crisis, when law firms’ bottom lines were squeezed. Seven years on, times [...]
EU data protection law: Professional services firms warn that businesses will need to work hard to adapt to legal changes, which carry potential pricey fines December 16, 2015 Professional services firms have warned that businesses might struggle to adapt to recently agreed upon changes to EU data protection laws, which include fines of up to four per cent of annual global turnover for a breach. Late yesterday evening, European Parliament and Council of the European Union negotiators agreed on a data protection package, designed [...]