Three-way law firm merger confirmed
Three international law firms have now confirmed that they will combine to form the world’s sixth largest law firm by lawyer headcount (based on AM Law 100 2016).
Olswang, Nabarro and CMS will merge following an overwhelming vote in favour by the firms’ partners; the effective date is 1st
The new firm will trade as CMS while the London-based partnership will be CMS Cameron McKenna Nabarro Olswang LLP.
The combination will have around 4,500 lawyers including 1,000 partners; and a total of more than 7,500 employees in 65 offices across 36 countries.
CMS senior partner Penelope Warne said that the merged firm will deliver more to its clients and bring benefits to its people: “We want to be a firm that is dynamic, progressive, technology-led, with a good culture which supports diversity and inclusion and all aspects of our colleagues’ careers.
Meanwhile, CMS executive chairman Cornelius Brandi added: “We welcome our new colleagues. This is an important and market-leading transaction which strengthens CMS, not only in terms of numbers but also in quality and expertise.”
Ashurst ‘Spectrum’ nominated at Australian LGBTI Awards
Ashurst’s internal LGBTI network Spectrum has been nominated in the “Employee Network Group of the Year” category at the Australian LGBTI Awards 2017.
Spectrum was established in the firm’s Australian offices in May 2015 and supports the firm’s LGBTI employees and wider community with the aim of achieving inclusiveness throughout the firm.
The award will be announced in March 2017.
US lawyers expected to see pay rises next year
Lawyers in the US can expect to see their compensation boosted by an average of 4.6 per cent in 2017 according to a report from recruiter Robert Half.
Those lawyers that have between 4 and 9 years’ experience and currently at small to medium sized firms should see pay rise by more than the average (6.9 per cent) along with first-year associates at large law firms (6.2 per cent).
"Legal professionals with experience in high-demand practice areas and sectors, such as corporate transactional law, real estate and intellectual property, are in short supply and they are receiving multiple job offers," said Charles Volkert, senior district president of Robert Half Legal.
The report says that firms are increasing enhanced benefits such as remote and flexible working in order to address the importance placed by candidates on work-life balance.