Goodwin ups newly qualified lawyers pay to £147k in a second rise this year July 30, 2021 US law firm Goodwin Procter has bumped up the salaries of its newly qualified (NQ) lawyers in London for the second time this year, City A.M. understands. Junior lawyers at the firm have been given a pay increase of 7 per cent bringing their annual salary to £147,000 less than six months after Goodwin gave [...]
Pupil barristers down by almost a third in 30 years July 29, 2021 The number of pupils for the bar has declined by almost 30 per cent since 1990, according to new research published by the Bar Standards Board (BSB) this week. The number of graduates starting pupillage in 2020 was 542, representing a fall of 28 per cent from 757 in 1991, according to the regulatory body. [...]
Norton Rose Fulbright technical glitch causes staff gender pronouns mix up July 27, 2021 A software error resulted in a gender pronoun mixup in emails for Norton Rose Fulbright staff. The global law firm allowed its staff in Australia earlier this month to specify what pronounce they wished to be referred to by including “he/him”, “she/her” and “they/them”. But a technical problem glitch meant those staff pronouns changed randomly. [...]
Ashurst’s equity profit bounces back to £1m per partner July 21, 2021 London-based law firm Ashurst has seen their equity per partner profit total to more than £1m in the previous 12 months from April 30. After five consecutive years of revenue growth the company has seen a 15 per cent growth in their partner profit over the year. Revenue for the company was also up 10per [...]
Law firm DWF reports strong year with revenue over £400m July 21, 2021 DWF Group, the international legal firm, has reported a rise in its revenues to £400m, in its full year results released today. Revenue rose to £401m for the year ended 30 April 2021, representing a 12 per cent increase from £357m in the previous year. Net revenue also grew by 14 per cent to £338.1m. DWF’s [...]
Clifford Chance report record revenue and profits in sixth consecutive year of growth July 20, 2021 Law firm Clifford Chance announces its sixth consecutive year of profit and revenue growth despite the pandemic. For the year ended 30 April Clifford Chance saw its revenue rise to £1.8bn, though by a marginal rate of one per cent compared to the previous financial year. Its profit per equity partner increased by nine per [...]
Macfarlanes to pay new solicitors £100,000 as salary war grips the City July 14, 2021 Macfarlanes to pay new solicitors £100,000 as salary war grips the City
Legal services company LegalZoom makes $7bn Nasdaq debut June 30, 2021 LegalZoom shares today opened 31 per cent above the company’s offer price in its Nasdaq debut, valuing the online legal services company at $7bn (£5bn). The legal tech giant helps users generate legal documents without lawyers. Shares opened at $36.75 (£26.61), up from the company’s initial public offering (IPO) on Tuesday which saw over 19m shares [...]
“Some firms don’t get it” – Sir Nigel Knowles on innovation in the legal sector, staying ahead of global competitors & the UK’s competitive advantage June 28, 2021 What Sir Nigel Knowles doesn’t know about legal and business services probably isn’t worth knowing. After a glittering 38-year career at DLA Piper, he is now CEO at London-listed DWF Group. He took the job in May 2020, after three years as Chair. Since then, the firm’s share price has risen around 30 per cent, [...]
The City View with Sir Nigel Knowles June 28, 2021 This week City A.M.’s Andy Silvester sits down with DWF Group CEO Sir Nigel Knowles. What Sir Nigel doesn’t know about legal and business services probably isn’t worth knowing. In this podcast he opens up on what he thinks the industry needs to do to stay ahead of international competitors, the new skills that young [...]