CPDonline.ca’s Post

The new JUVE Verlag für juristische Information GmbH Handbook of Business Law Firms has just been published. How did we at Deloitte Legal fare in banking supervisory law this time around? First, we moved up a tier, and second, the number of "frequently recommended" lawyers on our team has doubled (from 1 to 2 😉). Really nice! I'm also honored that competitors view me personally as a “very smart mind who is pleasant to work with”. Though, if you were to read this critically, you could interpret it as meaning I’m an “academic theoretician in an ivory tower” or “not particularly combative”. But that would be wrong. Sure, I’ve long been interested in my field from an academic perspective as well. But as a lawyer, you really wouldn’t want me on the other side. The nice JUVE ranking gives us an extra boost for next year. Tier up? One or two more “frequently recommended” lawyers? Thank you in advance, JUVE.

The 2024 edition of Chambers Global recognizes Jones Day with 105 practice rankings and 114 lawyer rankings. The real pride lies in what our clients say about us: "the lawyers have excellent technical knowledge and are concise, commercial, and responsive," and further lauding the Firm's "strong international experience and thus the ability to provide solutions that work in several jurisdictions." #investigations #fcpa #anticorruption

The Q3 2024 Thomson Reuters Institute Law Firm Financial Index (LFFI) indicates strong financial health for law firms driven by growth in demand and productivity. In the below report, we highlight the different paths to success taken by Am Law 100 firms. #AmLaw100 #LegalIndustry #ProfitGrowth #StrategicGrowth #LawFirmStrategy #DemandGrowth #ThomsonReuters #LawFirms

Why don't lawyers do what you ask them to do? 🤔 In his Katchr guest blog, leading legal sector consultant Simon McCrum looks at why policies and procedures are not followed within law firms. Having led what was the UK’s fastest-growing law firm, via McCrum Legal and The McCrum Academy, Simon now helps teams and firms to become #ThePerfectLegalBusiness. Read Simon's article to learn more about changing behaviours and optimising performance in your firm! ➡ https://lnkd.in/eEfPn3wn #legaltech #lawfirms #performance

Harbour is a wealth of information.

Delighted to have been quoted in today’s Financial Times Lex article “Top UK lawyers begin to muscle in on bankers’ turf”. The article explores how, at the top end, the rise of US private equity alongside complex, “bet the company” lawsuits has changed the traditional role of the lawyer - which is no longer just papering deals or mitigating risk, but something far more personal - akin to a consigliere to the business. For a small but increasing coterie of rainmakers this, together with changes in the structure of law firm partnerships, has led to an explosion in pay which has increasingly converged with that of investment bankers.    Since Covid, lawyer compensation in top firms has indeed hiked dramatically at all levels, with a small number of partners at the likes of Kirkland & Ellis and Paul, Weiss, Rifkind, Wharton & Garrison LLP reportedly earning compensation of c.$20 million p/a in London – perhaps not quite at the top table of the private funds world, but at least no longer demonstrably poor cousins to their friends at Goldman Sachs and Morgan Stanley. Nevertheless, aspiring lawyers anxious to join a profession with bragging rights for paying the most in professional services can take heart that at least one London law firm is trying its best to do this. As we pointed out in our article last year: “And you thought $20 million was a lot for a lawyer”, two partners at a small London litigation boutique - Velitor Law - were all set to make up to £3 billion (more than $3.6 billion) on a contingency fee from an $11 billion arbitral award against the Nigerian Government. Moreover, the payment didn’t even include an additional £850 million (well over $1 billion) in fees for the barrister! … good money, even for the likes of Warren Buffett. OK, unfortunately for the two law firm partners - who both stood to make significantly more than £1 billion each – the High Court overturned the arbitration award, and was more than a tad critical of the fee structure, but at least they were trying! Click here for the Financial Times Article (paywall): https://lnkd.in/e3svHEQz Click here for the Edwards Gibson article (with a link to the judgement) “And you thought $20 million was a lot for a lawyer”: https://lnkd.in/emnQjf9M

On the face of it, the U.K.’s 50 largest law firms enjoyed one of their strongest years in recent memory in the last financial year. It is only on closer inspection that the underlying growth metrics, such as revenue per lawyer and changes in profit margin show a more nuanced picture. Check out the latest U.K. Top 50 ranking by revenue here, plus all the key stats and analysis from the leaders of Linklaters, Herbert Smith Freehills, Travers Smith and Eversheds Sutherland. Reporting by Louis Altmann #Ranking #LawFirms #LeaderViews

What do you get if you combine the 100 biggest law firms in the world by revenue, with detailed, independent research into the quality of all of their practices provided by Legal 500? The answer? Completely different insight into what the definition of a global law firm really is or should be. Anna Huntley and I have explored various way of cutting a really huge amount of L500 data in order to create some alternative views of the firms that really are the best global law firms for Legal Business Magazine. We haven't published a single definitive list here. But we have created various options, which give better representation to UK/UK heritage firms like Clifford Chance, Linklaters, DLA Piper, Freshfields, Herbert Smith Freehills and Hogan Lovells which have genuine geographic reach. Of course, the ever-increasing importance of the US to international law firms cannot be underestimated, but nor should a list of the biggest and best global law firms basically equate to a list of the biggest US law firms, irrespective of whether they have any international reach.

Q2 2024 Law Firm Financial Index Report: "Law Firms Stronger Than Ever" The latest Q2 report from Thomson #Reuters shows promising trends for the legal industry. Despite a dip in M&A demand, overall corporate work and litigation have surged, driving the Law Firm Financial Index (#LFFI) to one of its highest levels ever. Key insights include: → Increased Demand: Overall demand up by 2.4%, led by #litigation (up 3.4%) and corporate work (up 2.2%). → Higher Billing Rates: Record billing rate growth at 6.6%. → Expense Management: Direct and overhead expenses are rising but at a slower pace. → Productivity Boost: Slight productivity increase (0.4%) despite industry challenges. → Diverse Growth: Am Law 100 firms see growth in #transactional work, while midsize firms thrive on counter-cyclical practices. Bill Josten from Thomson Reuters notes that firms are leveraging strong fundamentals to achieve sustainable growth, unlike the volatile peaks of 2021. While M&A work dipped, other transactions and counter-cyclical practices like #bankruptcy and #employment law are on the rise, ensuring a balanced growth portfolio for firms. This robust, multifaceted growth is a testament to the industry's resilience and strategic adaptability. With law firms operating on more stable foundations, they are well-positioned for long-term success. Read more about these trends and what they mean for the legal landscape in the full report. https://lnkd.in/ehy7e6up #LawFirmGrowth #LegalIndustry #Litigation #CorporateLaw #LawFirmFinancialIndex

💡 Firm takes three-pronged approach to management A Kent and London law firm has described how it is 'rewriting the rule book' by appointing three new managing partners to take the firm forward into 2025. Full story: https://lnkd.in/entyK7uA #Conveyancing #LawFirm #London #PropertyMarket