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Clydes and Barlows back merger deal after partner votes at both firms
Barlow Lyde & Gilbert and Clyde & Co have confirmed their merger deal following votes in favour of the move from both firms' partnerships, marking the largest-ever tie-up between two UK law firms. The votes, which took place yesterday (28 July) at Clydes and today (29 July) at Barlows, saw the firms achieve the 80% and 75% of ‘yes' votes respectively required for a deal to go through.
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Barlow Lyde & Gilbert and Clyde & Co have confirmed their merger deal following votes in favour of the move from both firms’ partnerships, marking the largest-ever tie-up between two UK law firms.
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Friederike Heine |
Reed Smith has added a shipping partner to its City base with the hire of the latest partner to exit legacy firm Barlow Lyde & Gilbert. Jeb Clulow joined Reed Smith’s London office this Tuesday (1 November) – the same day that Barlows’ merger with Clyde & Co went live – along with senior associate Lyall Hickson. Clulow, who was a partner in Barlows’ marine energy and trade group, specialises in shipping and trade disputes. He was made up to partner in the firm’s May 2009 promotions round and has worked with clients including Steamship Mutual, UK Club and Swedish Club.
Pui-Guan Man |
Two thirds of firms in the UK top 50 have seen profits per equity partner (PEP) fall over the past five years, according to research compiled by Legal Week. The figures show that only 16 firms in the top 50 have increased PEP since the 2007-08 financial year, compared with more than 30 that have seen profits slide. More than 20 firms have seen PEP fall by over 10% in the five-year period since the height of the credit crunch, with Field Fisher Waterhouse, Speechly Bircham and Trowers & Hamlins all seeing partner profits tumble by more than 40%.
Andrew Messios |
The magic circle firm is switching up its presence in the Big Apple.
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