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DLA Piper delays pay reviews to benchmark against competitors

DLA Piper has told fee-earners their salary reviews scheduled for May will be postponed by two months in order for the firm to benchmark its next wage increase against its competitors. Associates were told the news in an email from UK managing partner Sandra Wallace earlier this week. Salary reviews will now take place in July. […]

RBS legal costs provision jumps 300% to almost £1bn

The Royal Bank of Scotland (RBS) has more than tripled its provision for future legal costs related to regulatory and legal actions to £952m, the bank’s annual report has revealed. In 2015 RBS’s provision for spending on lawsuits and regulatory fines was £232m, up 27 per cent on the previous year when it set aside […]

Barclays appoints global litigation chief as UK GC

Barclays has named global litigation head Stephanie Pagni its new general counsel for Barclays UK. She replaces Mark Chapman in the role, who was promoted to the position last March. Chapman is understood to have taken leave from the bank to work for a charity in South Africa. The reshuffle follows a major restructure of Barclays’ […]

Reed Smith ups salaries to match rescued KWM trainees’ pay

Reed Smith has raised its salaries for trainees and associates. The US-founded firm has boosted first-year trainee pay by 4 per cent to £40,000, cancelling out a pay discrepancy that previously existed, where the three trainees it rescued from the collapsing King & Wood Mallesons were being paid more than the rest of the cohort. King […]

A&O litigation head to relocate to New York as US senior partner

Allen & Overy (A&O) litigation head Tim House is moving to the firm’s New York office to become its US senior partner. House’s appointment follows the departure of former US senior partner Kevin O’Shea, who moved to Milbank Tweed Hadley & McCloy along with two real estate partners last November. Tim House The new role […]

Yahoo general counsel steps down after cyber attack report

Yahoo general counsel Ronald Bell has stepped down from his role following a Securities and Exchange Commission (SEC) filing on a 2014 hack this week, which showed $11m (£8.9m) of losses relating to legal costs. The SEC filing detailed the company’s investigation into the data breaches, which affected 500 million user accounts in 2014 and more […]

Slaughters picks five start-ups to receive £30,000 in free advice

Slaughter and May will offer five start-ups, including WorldRemit and Tide, up to £30,000 in free services under a new fintech scheme. The firm announced last October that it was launching the “Fintech Fast Forward” scheme, with 25 businesses applying to join the programme. Five companies have now been selected, including online banking service WorldRemit. […]

Sousse terrorist attacks: ‘unlawful killing’

Claire Watson represented the Met Police in the Tunisian Inquests. The Coroner concluded that all 30 British Nationals were unlawfully killed but would not expand the category of persons in a dependent position to allow him to make findings of neglect. The Coroner expressed his gratitude to the families of the Deceased and noted their quiet […]