Magic Circle partner promotions inch up, but total down on recent years
ShareResizeLondon’s Magic Circle law firms promoted marginally more partners this year Photo: photo: Jose Sarmento Matos/Bloomberg via Getty ImagesThis is an online version of Financial News’s weekly legal newsletter, FN Law. To subscribe, click herePartner promotions at London’s elite Magic Circle law firms grew marginally this year after a strong period for the global legal industry.
Freshfields hires third Paul Hastings infrastructure partner in London
ShareResizeFreshfields hired two partners from the US law firm in London earlier this year Mike Kemp/In Pictures via Getty ImagesFreshfields has added a third infrastructure partner from US law firm Paul Hastings in London.The Magic Circle law firm tapped Paul Hastings for infrastructure duo Jessamy Gallagher and Stuart Rowson in February.
Why Freshfields could join the non-equity partner rush
ShareResizeThe traditional law firm ladder is changingPhoto: Getty ImagesThis is an online version of Financial News’s weekly legal newsletter, FN Law. To subscribe, click hereFreshfields’ push to compete with US rivals has seen the Magic Circle law firm ditch its lockstep pay system and overhaul its brand.
Freshfields eyes non-equity partner switch in battle for talent
ShareResizeThe London-founded law firm is betting big on growth in the US, and could shake up progression to retain top performersPhoto: Mike Kemp/Getty ImagesFreshfields is mulling the introduction of a non-equity tier in its partnership as the Magic Circle law firm faces competition for talent from rivals.A swathe of major law firms have introduced ranks of so-called non-equity partners in recent years to help them hold on to up-and-coming lawyers in a competitive market.
BCLP UK boss leaves door open to private equity investment
ShareResizePhoto: Jose Sarmento Matos/Bloomberg via Getty ImagesThe UK boss of law firm BCLP said it remains open to private equity investment and another merger to boost growth.Jinal Shah, BCLP’s UK Managing Partner, toldFinancial Newsthat the Missouri-headquartered firm has not ruled out striking a private equity deal, but declined to comment on whether it has engaged with any potential buyers.
DLA Piper set to hire former prime minister David Cameron
ShareResizeCameron could join other political grandees like ex-Treasury Committee chair Andrew Tyrie at the legal giantPhoto: Kristian Tuxen Ladegaard Berg/Getty ImagesLaw firm DLA Piper is set to hire former UK prime minister David Cameron as a consultant, according to reports.Cameron is being lined up to advise on geopolitical risk, theFinancial Timesreports, citing individuals familiar with discussions that have not yet been finalised.