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Gibson, Dunn & Crutcher's scholarship fund

Gibson, Dunn & Crutcher LLP has created a scholarship fund at Mount St. Mary's College. $10,000 will be given to pre-law students over a two year period. A Gibson Dunn lawyer will also serve as mentor for every scholarship recipient.

The move is aimed at fostering students' interest in law as a career and emerged out of the law firm's participation in mock trials at the college over the preceding years.

Mount St. Mary is an independent, liberal arts college with a majority of Hispanic students. Gibson, Dunn & Crutcher LLP is one of the leading international law firms, and it is ranked highly in global industry surveys and legal publications with approximately 800 attorneys spread across 13 offices.

06-30-2006

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Clyde & Co. enters U.S. legal market

Clyde & Co., the international law firm based in the UK, has formally announced its entry into the U.S. market by setting up shop in Los Angeles and New York. The firm opened its office in Shanghai earlier this year and in Moscow last year in July.

The U.S. office will initially concentrate in the field of aviation and aerospace, eventually expanding into energy, international trade, transportation, and insurance law.

A team of four partners from Condon & Forsyth, with whom Clyde & Co. has old ties, has moved laterally to join the firm. The move to set up offices in the U.S. has been dictated by the needs of the firm's international clients. The U.S. team is expected to aid Clyde's projection into the aviation and aerospace markets of Europe, the Middle East, Asia, and Latin America.

06-30-2006

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LeBoeuf Lamb adds to its bankruptcy and restructuring practice

LeBoeuf, Lamb, Greene & MacRae LLP has recruited 10 lawyers, including seven destined for Chicago and three for its New York offices. All 10 will work within the firm's banking and restructuring practice.

Lewis Rosenbloom, one of the country's leading corporate restructuring advisors, is set to become the head of the bankruptcy and restructuring department with global responsibility. Lawrence Larose is to head the firm's corporate restructuring practice in New York due to his extensive experience in handling restructuring deals with insurance companies, investment, and commercial banks.

06-29-2006

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Allen & Overy struggles with pension gap

According to market reports, partners at Allen & Overy have been subsidizing a significant gap in its pension fund for the last four years.

The deficit reached approximately $48 million, or $155,000 per partner, at the financial year end of 2005. It is expected to fall to about $40 million by the end of 2006, however, analysts predict that it will take the magic circle firm a total of 10 years to eliminate the deficit completely. Partners at the firm have contributed a total of $4.4 million each year since 2002 in order to curb the deficit.

The figures indicate the scale of pension liabilities among all top UK firms. As per British laws, every limited liability partnership company must file its accounts within 10 months of the closing of the financial year. The pension gap, which was found by the accounting firm Smith & Williamson, has been described as the largest ever.

06-29-2006

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Weil Gotshal boosts starting salaries

Weil Gotshal & Manges is increasing salaries for associates in London by as much as 20%. It follows in the footsteps of other U.K. firms racing to keep up with their U.S. counterparts. The increase comes on the heels of a recruitment drive for corporate associates in London after recent downturns in the legal job market.

The firm will raise salaries for newly qualified lawyers (NQs) from $114,000 to $137,000 across Great Britain. This puts Weil Gotschal ahead of the curve, as its chief competitors Freshfields Bruckhaus Deringer and Clifford Chance are still offering NQs $100,000. These firms, however, still lag behind the U.S.-based rival firm Debevoise & Plimpton, which is among the highest paying firms in London offering NQs around $150,000.

06-29-2006

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DLA Piper expands into Munich

DLA Piper Rudnick Gray Cary intends to expand its presence in the German market with a focus on technology, media, and telecommunications, as reported by The Lawyer Group.

The German market for private equity players is saturated with major U.S. players like Kirkland & Ellis, Latham & Watkins, and Milbank Tweed Hadley & McCloy, all of whom have offices in Munich with strong focuses on private equity. Moreover, the German patent office is located in Munich, and this has made it a center for IP/IT work. DLA Piper is the latest to stake a claim to the Munich legal market.

Ever since it first launched its German operation less than two years ago, DLA Piper has increased its staff from three to 80 attorneys within Hamburg, Frankfurt, and Cologne. The firm also maintains a five member German banking and finance team.

06-28-2006

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Cleary hires from Freshfields for Cologne office

Cleary Gottlieb Steen & Hamilton has announced plans to station a full-time corporate partner at the firm's Cologne office. To that end, the firm has recruited Jurgen Sieger, an M&A partner from Freshfields Bruckhaus Deringer.

Sieger, who is likely to join in September, will be doing full time work in corporate law in Cologne, while the other corporate partner, Thomas Buhl, will commute between the Cologne and Berlin offices. The total number of attorneys at the Cologne office is expected to reach 25 by next year. Cleary presently has 15 lawyers at Cologne, of whom five are engaged in corporate practice.

06-28-2006

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