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Freshfields raises lawyers’ salary, bonus

In tune with increasing salaries in the U.S., U.K.-based international law firms have also raised their lawyers' salaries.

Clifford Chance, Linklaters, and Allen & Overy were among the first and now Freshfields Bruckhaus Deringer joins the race.

Beginning May 1st, newly-qualified lawyers at Freshfields will receive £65,000 ($130,296), which is an 18% increase from last year. According to the announcement, associates at the end of the one year post-qualification experience (PQE) can expect to get £71,500 ($143,308), £84,000 ($168,368) for those with two years PQE, and three years PQE will get a lawyer at Freshfields £90,000 ($180,394).

Apart from the rise in salaries, Freshfields is also offering increased bonuses. According to the new bonus structure, the firm will pay a yearly performance-related pay-out of £20,000 ($40,091) to all newly-qualified lawyers after six months with the firm. The new bonus format will allow lawyers with two and half years PQE to potentially collect up to £35,000 ($70,152) as a bonus.

Under the new salary structure, trainees are also expected to get a raise in pay of 23%.

05-02-2007

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WTO attorneys move to Miller & Chevalier

Former World Trade Organization (WTO) attorneys Chris Parlin and David Christy have joined the international trade practice of Miller & Chevalier, a Washington-based firm. They have represented the WTO since its inception in 1995, have handled more than 80 WTO and GATT disputes combined, advised members of WTO on diverse issues, and represented companies, governments, and associations.

Through their representation of the Saudi Ministry of Commerce and Industry, Christy and Parlin helped Saudi Arabia join the WTO. Both are adjunct professors of international trade law at the Georgetown University.

Parlin has negotiated a WTO dispute settlement as the lead U.S. lawyer and also played a key role in the Uruguay Round implementing legislation, among other duties. He had a government career prior to entering private practice, and has carried out several key roles in the Office of the United States Trade Representative.

Miller & Chevalier has a significant international trade practice. Founded in 1920, the firm's attorneys provide services in international trade, including bilateral and multilateral negotiations and dispute settlement, laws and regulation, and investment and interrelated domestic policy.

05-01-2007

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Diversity in law firm must for growth

Diversity is gradually gaining acceptance in the U.S. business world, including the legal industry- by choice or by compulsion.

According to Nancy L. Stagg, a principal with the San Diego office of Fish & Richardson, some of the large global corporations have decided to work only with those law firms which are committed to diversity.

Minority Law Report's 2006 Diversity Scorecard survey has provided startling data. Of the 240 law firms surveyed, 11.4% of lawyers belong to an ethnic minority group, while only 5% of partners are African American, Asian American, Hispanic, Native American, or part of another minority ethnic group.

Statistics reveal that there is a strikingly low number of minority and women law school graduates who later become partners at law firms. To tackle these hurdles, law firm Fish & Richardson has assumed the role of mentoring minority law students. The firm's 1L Diversity Fellowship Program awards fellowships to five diverse first-year law students. The fellowship includes an academic scholarship of $5,000, a paid summer associate position in a Fish & Richardson office of the student's choice, along with individual mentoring. The mentor helps the student in his professional growth and education.

The mentoring continues even when the attorney joins the firm. All associates in their early years at the firm are mentored by senior attorneys, as well.

05-01-2007

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Foley & Lardner seeks approval to open an office in Shanghai

Foley & Lardner, LLP, has applied to the Ministry of Justice of the People's Republic of China for approval to set up a representative office in Shanghai.

If approved, the firm will concentrate on its nationally recognized intellectual property and dispute resolution practice. It is likely to provide the firm with an advantage over other U.S. law firms which have also recently opened representative offices in China.

The Shanghai presence will enable Foley & Lardner to serve the firm's U.S., Asian, and European clients in areas such as life sciences, manufacturing, automotive, and high-technology.

IP expert Catherine Sun, who has joined Foley & Lardner's China office as a partner, will head the firm's Asia practice. Prior to joining Foley & Lardner, Sun led Weil, Gotshal & Manges, LLP's IP practice in China.

The Shanghai office will be Foley & Lardner's second Asian unit, having established one in Tokyo in 2003.

04-30-2007

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Milbank strengthens its capital markets practice in Japan

Milbank, Tweed, Hadley & McCloy, LLP, welcomes well-known capital markets lawyer Bradley Edmister as Counsel.

Edmister, who is a Harvard Law School graduate, will join the firm's Tokyo office. He has worked on large deals in Japan, including handling global equity offerings. Edmister also has wide-ranging experience in M&A, joint ventures, and private equity. Prior to this appointment, he was with Sullivan & Cromwell for eight years, five of which were spent in Tokyo.

The appointment reflects Milbank's position in the capital markets in Japan. The 140-year-old firm has had offices in Asia for 30 years with nearly 40 lawyers who are qualified to practice both New York and English law.

Milbank is headquartered in New York and has offices in other cities, including Washington, DC, and London. It provides legal solutions to a diverse clientele including multinational enterprises, governments, and individuals. Transactional and litigation services offered by the firm include corporate finance and acquisition finance, proxy battles, intellectual property, and white collar crime.

04-30-2007

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White & Case appoints securities lawyer

White & Case, LLP, has hired securities lawyer Mariel Creo in a move that will maintain the growth of the firm's New York Securities Practice.

Creo brings with her to the firm an extensive background in complex corporate and finance transactions in Latin America and Europe. Fluent in English and Spanish, she has represented multinationals in the Latin American markets and global financial institutions. Creo has also worked in the areas of private placements, private equity investment funds with Latin American investments, high-yield bond offerings, leveraged finance, and debt restructuring.

Founded in 1901 in New York City, White & Case provides services in the areas of finance, mergers, securities and sovereign law, and issues including antitrust, commercial litigation, and international trade. The firm has now expanded to more than 2000 lawyers working in 23 countries. The New York office of White & Case has 400 lawyers providing diverse legal services.

04-27-2007

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Sidley Austin opens office in Sydney

U.S. international law firm Sidley Austin, LLP, is opening an office in Sydney on May 1. The Sydney office will be the firm's sixth office in the Asia Pacific region. Hundreds of lawyers operating in the law firm's capital markets practice from its 11 global offices.

Also, Bob Meyers, a resident in Sydney, will join Sidley's global corporate finance and capital markets practice as partner. Presently, Meyers is the managing partner of Pillsbury Winthrop Shaw Pittman's Sydney office. He is a leading U.S. legal adviser to Australian companies and investment banks in the U.S. as well as global capital markets, cross-border mergers and acquisitions, and structured finance.

For more than 20 years, Sidley Austin has represented investment banks and financial institutions from Australia and New Zealand in the practice area. The firm decided to set up a local office to meet the growing needs and an increase in the number of deals in the Australian market.

Sidley Austin currently has five offices in the Asia Pacific region. These are in Tokyo, Shanghai, Hong Kong, Beijing, and Singapore. The Sydney office will be the firm's 16th global office.

04-27-2007

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