No not liquorice, rather the vast array of stories that have broken in the legal market this week.
First there have been fireworks at US firm White & Case. Lawyer2B.coms sister magazine The Lawyer exclusively revealed the discontent in the London office of White & Case at the start of the week and on Tuesday night the firms co-head of global banking Maurice Allen and London co-head Mike Goetz handed in their resignations.
London’s finance partners were called in to an emergency meeting on Tuesday night as global managing partner Hugh Verrier flew in with Allen’s global co-head of banking Eric Berg to try and calm an explosive situation. Berg is temporarily relocating to steady the ship.
And if that werent bad enough, as we revealed yesterday White & Case is facing a fresh revolt over partner pay. Verrier is coming under increasing pressure this week to rejig the firms compensation structure for more junior partners in London in the wake of the dramatic resignations of Allen and Goetz. The firm is currently in the throes of assessing partner compensation, with the final decisions being made by the end of next month something which has put partner pay right at the top of the agenda in the firms embattled City office.
Thankfully it’s not all bad news for White & Case. Litigation partner Alistair Graham teamed up with Brick Court to score a stunning House of Lords victory for Ian Norris. The former chief executive of Morgan Crucible will not be frogmarched to Heathrow and the UK’s extradition treaty with the US looks to be on shaky ground.
And if you want more… Bird & Bird is merging with a Finnish firm, Withers and Forsters are at loggerheads over Forsters hire of four partners, former F&C legal head Gillian Switalski one of the best-known legal heads in the business is suing the asset management company for alleged bullying and victimisation and A&O has emerged as the most attractive employer among law students – unless they’re from Oxbridge. Phew.
You’ll be able to read all these stories and much more on at www.thelawyer.com.