Yesterday
‘Gold rush mentality’: Lawyers pile into AI advice
Lawyers are taking advantage of uncertainty around the legal implications of artificial intelligence use to build out new practices in the area.
- Maxim Shanahan
This Month
KWM changes partner pay to reward the biggest billers
KWM’s top-performing partners will be able to take home a greater share of the firm’s profits, after “moderate” changes to remuneration structure were approved by partners.
- Maxim Shanahan
Law firms urged to track employees’ sleeping patterns
British firms have been urged to track the mental health and wellbeing of employees, as the legal profession confronts its often toxic work culture.
- Adam Mawardi
Law firm Hogan Lovells to close Australian office
Hogan Lovells will depart Australia a decade after it arrived, while fellow transatlantic firm A&O Shearman will make 10 per cent of its partners redundant.
- Maxim Shanahan
Holding Redlich held merger discussions after abandoned expansion effort
Holding Redlich held preliminary merger talks with a rival national firm as it turned away from an unsuccessful expansion strategy.
- Maxim Shanahan
Law firms lift rates as deals return
A rare alignment of transactional and countercyclical demand has kept lawyers busy across most parts of the legal market.
- Maxim Shanahan
Corrs partner heads to Ashurst in run of departures
Real estate partner Alexandra Peace, who was hired from Allens in 2019, is the tenth Corrs partner to leave in the past month.
- Maxim Shanahan
August
Major law firms locked out of government work
Some of Australia’s largest firms have lost appointments to parts of a major government panel, after the Attorney-General’s Department reduced tender prices.
- Maxim Shanahan
Deals revival hands bumper profits to top UK law firms
Profits at Britain’s magic circle law firms increased significantly last financial year, driven by US expansion and a pick-up in mergers and acquisitions.
- Suzi Ring
July
$30m a year: how US lawyers are shaking up London’s ‘magic circle’
On the coat-tails of a private equity boom, American partnerships are bringing a long-hours, high-pay culture to the City. It’s not for the faint-hearted.
- Suzi Ring
Rebel Corrs group seeks move to King & Wood Mallesons
Five partners in Corrs’ employment practice are in discussions to shift to rival firms, after some in the group voted against a controversial contract extension.
- Maxim Shanahan
HSF’s Australian division outpaces global firm
Herbert Smith Freehills’ Australian arm has booked revenue growth of 15 per cent, as profit per equity partner continues to rise.
- Maxim Shanahan
How London’s top dealmaker fell out of the magic circle of law firms
While many of Britain’s elite law firms are going full throttle with US expansion efforts, Slaughter and May has decided to pull back, raising questions about its future.
- Adam Mawardi
Consulting downturn shrinks Deloitte revenue by $70m
Deloitte’s revenue suffered a sharp reversal in 2023-24, with revenue in all sectors either flat or shrinking.
- Maxim Shanahan
- Opinion
- Consulting
Why bigger bills equal better value for consulting clients
This ‘designer handbag effect’ is well known in consumer goods, but the same could apply to large professional services firms.
- George Beaton
Top lawyers ‘name their price’ as competition runs hot
Major law firms are being forced to adapt their partnership structures as high-earning partners test their value on the open market.
- Maxim Shanahan
Ashurst partner profits top $2.5m as US challenge looms
Ashurst’s revenue rose by 9 per cent, and partner profits received a handsome boost. But the UK-based firm is looking to the US as American rivals challenge.
- Maxim Shanahan
Deals bounceback yields $3.8m each for law firm partners
A return to deal-making has resulted in profit allocations soaring at London’s Linklaters, which has an alliance with Australian firm Allens.
- Adam Mawardi
- Opinion
- Consulting
Is McKinsey a partnership? Court case, leadership battles stir debate
A former senior partner is suing McKinsey after he was fired for having “communicated about document deletion” relating to the firm’s advice to opioid manufacturers.
- Stephen Foley
June
HWL Ebsworth appoints new board
The HWL Ebsworth partnership has elected seven members to its new governance board, which will bring it in line with common practice at other firms.
- Maxim Shanahan
