Morning Briefing: Law firm predicts new wave of growth
Aussie offices will be the start of growth period for international firm
Pinsent Masons’ managing partner John Cleland says that this year’s new Australian offices will be just the start of its next wave of growth. The firm is expanding with new offices in Sydney and Melbourne this year having recently opened in Paris, Munich and Istanbul and with a number of new partners taking the headcount to over 400. Cleland was commenting as the firm announced its preliminary, unaudited accounts showing an increase in revenue of 12 per cent in the 2014/15 financial year to reach AU$741 million.
International law firm announces new service for in-house teams
Eversheds has announced the launch of a new service aimed at in-house legal teams. Operating across the firm’s global footprint Eversheds Ignite will meet demand for high-volume, low risk work such as statements of work, non-disclosure agreements, renewals & extensions and short form agreements. However it will assess and react to expanding client demand. The service will use a bespoke web-based system that has been developed by Eversheds’ consulting team.
New senior partner for Freshfields
Freshfields Bruckhaus Deringer has announced that Edward Braham has been elected as its new senior partner. He will be part of a new global leadership team that will include Chris Pugh, Stephan Eilers and Michael Lacovara. The team will assume their new roles from January 2016 when current senior partner Will Lawes steps down and David Aitman steps down as managing partner.
Olswang team in talks to jump ship
The Berlin-based team of Olswang are believed to be in talks with a number of international law firms as their office is about to close. Initially it was rumoured that the team of 50, including 13 partners, were likely to form a boutique and that Olswang had agreed to the plan. However talks are reported to be underway between the team and other firms including Freshfields and Morrison & Foerster. Olswang will be concentrating its German practice in Munich.
Brands take on Murdoch in advertising competition case
A group of well-known brands claim that Rupert Murdoch’s News Corp has monopolised the market for in-store design services and used its position to affect prices. A judge has ruled that the litigation can proceed as a class action. The case is unusual in that a handful of law firms are representing the plaintiffs on a contingency fee basis. Kramer Levin partner Daniel Goldman told Bloomberg that it’s rare but that with five firms absorbing the risk the rewards could far exceed hourly fees. News Corp. says that it is reviewing the judge’s decision.