Practice Management
Law firm creates new partner level between salaried and full equity
A Yorkshire law firm has introduced a ‘tailored equity’ scheme to act as a “stepping stone” between being a salaried partner and full equity.
Big law firms abandon external investment in the face of volatility
None of the top 100 law firms are “actively pursuing alternative funding or ownership structures”, such as listing on Stock Exchange, for the next three to five years, a survey has found.
Tale of two cities as smaller London law firms seek shorter leases
Smaller commercial law firms in the City of London are pushing for short leases to give them more flexibility, while big firms signed five “mega-deals” on new offices last year.
Law firm goes live with two Black lawyer mentoring schemes
Setfords has become what it believes is the first law firm to launch two mentoring schemes aimed at aspiring and qualified Black lawyers respectively.
Campaigning solicitor and barrister trainers launch baby-loss programme
A solicitor campaigning for statutory leave for those suffering baby loss has teamed up with a training company run by barristers to create an online platform to help people returning to work afterwards.
Large law firms experiencing two ‘cyber incidents’ a month
Large law firms experienced an average of 23 ‘cyber incidents’ in the past 12 months and are among the lower spenders on cyber protection compared to other sectors.
World Mental Health Day: Calls to LawCare up sharply this year
LawCare has seen a 24% increase in the number of legal professionals contacting it for support so far this year, showing that employers need “to do more to create mentally healthy workplaces”.
Eight out of 10 City law firms report fall in PEP
Profits per equity partner are tumbling at City law firms despite increases in revenue, new research has found. Eight in 10 City firms reported a decline in PEP this year.
New shelf facility for law firms “will speed up consolidation”
The pace of consolidation in the legal market could increase after the funder that owns Simpson Millar launched a facility for law firms that want to grow through acquisition.
Having children “makes lawyers less optimistic about careers”
Six in 10 lawyers feel “less optimistic” about their career prospects after having children, with the feeling much more common among female solicitors than men.
Blog
Accountability has to live within governance, not with one person
The assumption has long been that a COLP or COFA is personally exposed to the consequences of anti-money laundering breaches.
The SRA’s client money reforms: good intentions, questionable execution
On the face of it, the SRA’s plans to tighten protections around client money sounds sensible. The detail, as ever, tells a more complicated story.
Recruitment, retention and reward in the legal accounts world
Understanding the legal finance market is important – not just for those actively involved in it day-to-day but also for leaders within law firms.
