Five colleagues consider leaving London firm over fee structures... Denton’s real estate chief joins rival for global role... Malaysia now open to foreign firms and summer associates programs decline in US...
Lawyers plan to quit over fees
Five corporate partners at London-based law firm Edwards Wildman Palmer are contemplating leaving, apparently unhappy at their fee structure. The firm has denied rumours that the entire corporate group are planning to leave and join another firm en masse. They have also dismissed a rumour that the firm is planning to close its London office. Sources say that it is unlikely the five unnamed partners will be persuaded to stay or that the firm will change its compensation structure to suit them.
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Dentons real estate head joins rival
Eric Rosedale, head of real estate at Dentons has been hired by Greenberg Traurig to head up its international real estate section. Mr Rosedale will split his time between the UK, Poland and the Netherlands and will oversee the existing international real estate client base and the growth of that part of Greenberg Traurig’s business.
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Malaysia opens up to foreign law firms
Foreign lawyers now have access to the Malaysian market after a law passed in 2012 came into effect earlier this month. The Legal Profession Act allows foreign firms to operate within Malaysia’s jurisdiction and to form joint ventures with Malaysian firms.
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Chinese bank signs deal In London
The Chinese Development Bank Corporation, a government owned business that funds large infrastructure projects internationally, has signed a deal in London that will mean good news for UK law firms. The company is planning to open an office in London to oversee funding of nuclear energy, high speed rail and telecoms projects and will require high quality legal advice for its investments.
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US summer associates declining
Summer associates programs have long been used as a way to assess and hire fresh young legal talent as they prepare for their final year at law school but a new report suggests this is changing. Law firms are hiring fewer students for their programs or not running them at all, as the needs of the firms have changed. They are now keen to hire new talent at the time they need them rather than a year in advance, and with no shortage of candidates they are finding that it can work as a model.
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