Law firms are scrambling to hold costs and overheads in any way they can, including eyeing employment changes and payment distributions. One firm that has attempted to avoid taking the coronavirus financial hit is Allen & Overy who have taken a bunch of measures they describe as "prudent management measures". The firm has altered its profit distribution to partners, … [Read more...]
Vault Rankings – The Top Rated US Law Firms For Compensation, As Recommended by Associates
The annual Vault rankings are always keenly awaited and with 20,000 Associates ranking US law firms this year the rankings remain of keen interest. But which firms rank tops? The top ranking 10 US law firm as ranked by Vault follow - Cravath, Swaine & Moore LLP With two centuries under its belt, Cravath, Swaine & Moore LLP is one of the nation’s preeminent … [Read more...]
Why Is This Firm Winning The ‘Top Law Brand’ Award Again?
For the third year in a row, Baker McKenzie has won the global law firm brand survey run by Acritas. So what is the firm doing to achieve its 'top law brand' branding success? The Acritas 2020 Global Elite Brand Index showed Baker McKenzie widening its margin over the two law firms providing the greatest competition: DLA Piper and Clifford Chance. The Acritas say … [Read more...]
The Pierce Bainbridge Carousel – A Not So Merry-Go-Round of Departing Lawyers & Clients
The bad news coming out of the self-proclaimed “Fastest Growing Law Firm in the History of the World” continues with reports not only of a flood of firm departures, but also now reports of fractured client relationships.Pierce Bainbridge Beck Price & Hecht LLP continues to take on water. Time will tell if managing partner John Pierce, given to tough marine-talk, Captain … [Read more...]
The Decade's Big Law Failures: Why Do Big Law Firms Fail?
Brian Holmes - Remember Dewey & LeBoef? Just one of the last decade's law firm failures, some of which BloombergBigLaw have kindly catalogued as a decade send-off for the failed firms. Law firms fail for a large number of reasons, but one of the unique aspects to major law firm failure is the unique nature of their ownership. As John Morley pointed out in a Harvard … [Read more...]
Why Allen & Overy and O’Melveny Fell Over . . And What It Says About US-UK Firms
"Compelling synergies" between two Big Law firms not enough to cement merger deal Attempts by City-based legal giant Allen & Overy to enter the US legal market have collapsed after 18 months of talks with US - based O'Melveny & Myers and evidences the structural differences between US and UK law firms. Allen & Overy said in a statement that "compelling … [Read more...]
Another Large London Law Firm Merger
Another City firm is about to be born with the potential merger of Speechly Bircham & Withers in a firm that would create a City-based firm of around 500 lawyers and 11 global offices. The combined firm would create an opportunity for the corporate and property base of Speechlys to combine with the international reach that Withers has via its 10 global … [Read more...]
