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Irwin Mitchell takes out £60m bank loan to fund growth strategy

Irwin Mitchell has secured a four-year, £60m bank loan with three major UK banks to support its strategic growth plan.

27 Mar 2014 | 10:35 | secure

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inner image Weil's City revenue climbs as global results reflect tough year

Weil Gotshal & Manges’ City arm has posted a 3.6% increase in revenue for 2013, as its global profit and turnover both suffered significant falls. The London office generated $114m (£68.6m) in fee income last year, up on the previous year when it ...

11 Mar 2014 | 11:29 | secure

inner image Reed Smith's City turnover up 13% as global revenue hits $1.08bn

Reed Smith's London office revenue increased 13% in 2013, the second successive year of double-digit growth for the Pittsburgh-founded firm's UK outpost. The City office hit its revenue target of $190m (£113.6m) last year, up from $168m (£100.5m) in...

07 Mar 2014 | 12:00 | secure

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Deloitte: UK top 100 sees Q3 rises in fees, hourly rates and income

Improved confidence and increased market activity has pushed up rates and fee earner income at the UK's top 100 law firms, according to the latest legal sector survey by auditor Deloitte. The study, which looked at the quarter ended 31 January 2014, ...

07 Mar 2014 | 00:22 | secure

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Two more quit BLP's finance team as new boss faces tough job to stem partner exits

Berwin Leighton Paisner's (BLP) finance practice has had something of a revolving door recently, with the announcement of a new practice head last week prompting yet more departures. Since September a total of 13 partners have left BLP – a mix o...

06 Mar 2014 | 11:25 | secure

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Bakers and FFW join list of UK firms asking junior partners for capital in light of tax rule changes

Field Fisher Waterhouse (FFW) and Baker & McKenzie have become the latest firms to ask junior partners to contribute capital in response to upcoming changes to how partnerships will be taxed.

06 Mar 2014 | 00:20 | secure

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Quinn Emanuel global income up 14% as London profit drops by a third

Litigation powerhouse Quinn Emanuel has posted a mixed set of financial results for 2013, despite firm-wide earnings rocketing to within touching distance of the $1bn mark. However, the firm's 11-partner City office recorded its first annual declin...

05 Mar 2014 | 10:49 | secure

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DLA posts marginal global revenue increase

DLA Piper has posted marginally improved financial results its global business, with fee income for 2013 up by less than 2% from $2.44bn (£1.46bn) last year to $2.48bn (£1.48bn)

28 Feb 2014 | 15:50 | secure

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Two sides of the coin – can Travers and Macfarlanes still be classed as City bellwethers?

With their UK-centric business models and focus on private equity, if anyone was going to be hit hard by Lehman Brothers' 2008 collapse and the subsequent implosion of the global financial markets, it was top 50 UK law firms Macfarlanes and Travers Sm...

28 Feb 2014 | 00:00 | secure

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Hogan Lovells sees PEP increase by 10%, with revenues up 5% in record year

Hogan Lovells has reported a 10% increase in global profit per equity partner (PEP) in 2013, while revenue is up 5%, marking a record year for the firm. The transatlantic firm saw revenue for 2013 increase by 5.2% to $1.718bn, with London turnover up ...

27 Feb 2014 | 14:15 | secure

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Paul Hastings and McDermott post revenue rises as K&S joins $2m PEP club

Paul Hastings, McDermott Will & Emery and King & Spalding each posted global revenue rises in 2013, according to financial results released by the US-headquartered law firms this week.

26 Feb 2014 | 01:17 | secure

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Revenue increases at City offices of Shearman and K&L outpace global rises

Shearman & Sterling and K&L Gates have both posted increased global revenues, becoming the latest US-headquartered law firms to report strong financial performance in 2013. In London, Shearman saw a 20% revenue increase to $134.8m (£80.9m), the offic...

21 Feb 2014 | 14:47 | secure

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Freshfields expands client relationship programme across international offices

Freshfields Bruckhaus Deringer has expanded its client relationship management programme across its international offices after the scheme helped grow revenue from key clients by more than 15% a year. The CRM programme was introduced in 2011 by Lon...

21 Feb 2014 | 00:00 | secure

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Bingham partners face pay "haircut" as global revenues plummet 13% in 2013

Partners at Bingham McCutchen have been asked to take an additional pay "haircut" after global revenue at the US firm plummeted by $110m last year. The 12.6% drop, which left total revenue for 2013 at $762m, came in the wake of a decline in US restru...

20 Feb 2014 | 13:23 | secure

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Sidley, Latham and V&E all post revenue increases for 2013

Sidley Austin, Latham & Watkins and Vinson & Elkins have become the latest international firms to announce increases in year-on-year revenues. Latham saw revenue climb 2.7% to $2.29bn (£1.38bn), while profits per partner edged up 1.9% to $2.49m (£1....

20 Feb 2014 | 03:35 | secure

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