City law firms clamp down on the equity cookie jar Legal Law firms are tightening access to equity partnerships to protect profits, increasingly reserving the equity pool for top performers, writes Maria Ward-Brennan. As the Big Four giants dominate the headlines with internal changes, the firms are seeking to regain control of their expanded equity pools amid profitability problems. These giants are looking to mirror what [...]
Money talks, but culture counts in transatlantic law firm tie-ups Legal A merger between a notable US outfit and a UK-headquartered legal firm used to be a rare event, but with the focus on global dominance, these strategic moves are now attracting more attention – as more firms begin to follow suit. This week, London-based Ashurst agreed to merge with Seattle-based Perkins Coie, and overnight it [...]
Post merger A&O Shearman generates £2.9bn in revenue as partner pay falls short of competitors Legal The first results following the anticipated merger of A&O Shearman show that equity partners pocketed £2m, slightly below the figures from its legacy Magic Circle firm
Linklaters: Profit passes £1bn as partners set for record pay day July 22, 2025 Profit at Linklaters has surged past the £1bn for the first time as the law firm’s partners are set to share a record pay day. The London-headquartered firm, which dates back to 1838, has posted a pre-tax profit of £1.08bn for its year to 30 April, 2025, a rise of 14 per cent compared to [...]
‘Magic Circle’ law firms trying to distance themselves from the prestigious phrase May 29, 2025 'Magic Circle' is a term that has long been used to describe the elite law firms; however, within the circle, the mood is shifting around this esteemed phrase
Motor finance: Close Brothers calls on magic circle law firm for court battle February 6, 2025 Close Brothers has swapped in a top magic circle law firm for its Supreme Court battle to overturn the landmark motor finance test case.
Freshfields: Revenue passes £2bn at Magic Circle law firm but profit cut February 3, 2025 Profit at Magic Circle law firm Freshfields was cut during its latest financial year despite its revenue passing £2bn for the first time. Freshfields has reported a pre-tax profit of £668.9m for the 12 months to 30 April, 2024, according to newly-filed accounts with Companies House. Profit before partners’ annuities increased from £497.8m to £675m. [...]
Hiring frenzy at London law firms as ‘apex predator’ disrupts market December 30, 2024 Partners at London law firms are switching companies at record pace as a surge of investment by American rivals ramps up competition for talent. According to data provided by legal recruiter, Edwards Gibson, there were 546 partner moves recorded over 2024. This figure is up seven from 510 moves in 2023, and up 14 per [...]
Football regulator advertises Head of Legal role that pays ‘less than most newly qualified lawyers’ August 30, 2024 The independent football regulator’s top lawyer will be paid the same as peers just starting out on their legal careers, prompting industry figures to fear the body could be “toothless”. The Department for Culture, Media and Sport (DCMS) posted an advert for the Head of Legal role earlier this week that will pay the successful [...]
Magic circle Clifford Chance equity partners pocket over £2m July 24, 2024 Clifford Chance's revenue had double-digit growth as it reports its highest rate of revenue increase since 2017, with the firm tipping this to its investment in the US