Freshfields Archives - Legal Cheek https://www.legalcheek.com/tag/freshfields/ Legal news, insider insight and careers advice Thu, 18 Jul 2024 08:51:17 +0000 en-US hourly 1 https://wordpress.org/?v=6.6 https://www.legalcheek.com/wp-content/uploads/2023/07/cropped-legal-cheek-logo-up-and-down-32x32.jpeg Freshfields Archives - Legal Cheek https://www.legalcheek.com/tag/freshfields/ 32 32 Trainee retention rates: Freshfields and Slaughters post 86% and 84% results https://www.legalcheek.com/2024/07/trainee-retention-rates-fresfields-and-slaughters-post-86-and-84-results/ https://www.legalcheek.com/2024/07/trainee-retention-rates-fresfields-and-slaughters-post-86-and-84-results/#comments Wed, 17 Jul 2024 11:31:28 +0000 https://www.legalcheek.com/?p=207121 37 of 43 and 36 of 43

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37 of 43 and 36 of 43


Freshfields and Slaughter and May have posted strong autumn trainee retention scores of 86% and 84% respectively.

This makes Freshfields the top performer within the Magic Circle so far, keeping on 37 of its 43 qualifying trainees. All rookies who were offered a role accepted it.

Slaughters comes in at a close second, retaining just one fewer with 36 out of 43 trainees. The firm confirmed to Legal Cheek that all NQ solicitors have been retained on permanent contracts.

Earlier this week Clifford Chance announced that it was keeping on 75% of its trainees (42 of 56), with A&O Shearman earlier recording a retention rate of 66% (37 of 56).

The 2024 Legal Cheek Firms Most List

Linklaters is the only Magic Circle firm not to have released its retention figures so far.

Whilst Freshfields’ retention has stayed relatively level across this year, posting an 84% score for its spring qualifying cohort, Slaughters’ score had dropped slightly, falling from a very impressive 95% spring score.

Speaking on the latest retention figure, Craig Montgomery, partner and training principal at Freshfields, said:

“We are thrilled that many of our trainees are choosing to advance their careers at Freshfields and their exceptional skills and dedication during the Trainee Associate Programme have been impressive. Our commitment to their development reflects our belief in fostering a strong, diverse workforce for the future and is a vital part of our strategy to cultivate a dynamic and forward-thinking global firm.”

Earlier this year Freshfields raised NQ pay to a new high of £150,000, with Clifford Chance, Linklaters and A&O Shearman all swiftly following.

Slaughters is the only Magic Circle firm to have kept its NQ salary at £125,000 so far, although it has raised trainee pay in line with its Magic Circle rivals.

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Ex-Freshfields partner to face disciplinary tribunal over allegations of ‘inappropriate and unwanted’ conduct https://www.legalcheek.com/2024/06/ex-freshfields-partner-to-face-disciplinary-tribunal-over-allegations-of-inappropriate-and-unwanted-conduct/ Tue, 04 Jun 2024 11:41:18 +0000 https://www.legalcheek.com/?p=205703 Dates back to 2017

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Dates back to 2017


A former Freshfields partner is set to appear before the Solicitors Disciplinary Tribunal (SDT) over allegations of “inappropriate and unwanted” behaviour.

Nick Tristan Williams became a partner at the Magic Circle firm in 2017, and remained in the post up until his resignation in December 2019 following an internal investigation.

In 2019 Freshfields commented that: “We can confirm that following an internal investigation, Nick Williams has left the firm and his last day was 11 December.”

The 2024 Legal Cheek Firms Most List

The Solicitors Regulation Authority (SRA) has now referred the matter to the SDT, according to a notice published on its website.

It states: “The Tribunal has certified that there is a case to answer in respect of allegations which are or include that while a solicitor and partner at Freshfields Bruckhaus Deringer between 20 and 21 December 2017, engaged in conduct towards Person A, which was inappropriate and unwanted.”

In a statement, a Freshfields spokesperson said: “We are not a party to the SDT, or any related proceedings. The individual left the firm over four years ago. At the time, we looked into the concerns raised and took appropriate action.”

The allegations are subject to a hearing and are as yet unproven.

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Freshfields sets down Magic Circle salary marker as it ups NQ lawyer pay 20% to £150k https://www.legalcheek.com/2024/05/freshfields-sets-down-magic-circle-salary-marker-as-its-ups-nq-lawyer-pay-by-20-to-150k/ https://www.legalcheek.com/2024/05/freshfields-sets-down-magic-circle-salary-marker-as-its-ups-nq-lawyer-pay-by-20-to-150k/#comments Fri, 03 May 2024 10:44:11 +0000 https://www.legalcheek.com/?p=204622 Is there another pay war on the horizon?

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Is there another pay war on the horizon?


Freshfields has jumped to the top of Magic Circle pay table with a new and improved rate of £150,000 for its newly qualified lawyers.

The Anglo-German giant confirmed today that NQ salaries increased from £125,000 to £150,000 on May 1. That’s an uplift of £25,000 or 20%.

The Legal Cheek Firms Most List 2024 shows its MC rivals — A&O Shearman, Clifford Chance, Linklaters and Slaughter and May — all dish out £125,000.

The 2024 Legal Cheek Firms Most List

Freshfields’ trainees have also been handed sizeable increases. First year salaries have moved from £50,000 to £56,000, while those a year ahead will now earn £61,000, up from £55,000. Once again, these new figures are significantly higher than those currently offered by its Magic Circle rivals; £50,000 in year one, rising to £55,000 in year two.

Mark Sansom, London managing partner, commented:

“We’re committed to embedding a culture that supports our people to deliver their best, knowing their contribution is valued and rewarded. Being part of Freshfields means working alongside the best lawyers in the market and being fairly recognised for excellent client service on the most complex and high-profile legal work. This move follows a year of strong growth for the London business, thanks to the dedication of all our people. It also reflects our confidence in the firm’s continued market leadership across all our London practices, further boosted by the success of the material investments in the US and other markets.”

Will its MC rivals follow? Let us know what you think in the comments below.

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Freshfields records 84% trainee retention rate https://www.legalcheek.com/2024/01/freshfields-records-84-trainee-retention-rate/ https://www.legalcheek.com/2024/01/freshfields-records-84-trainee-retention-rate/#comments Tue, 30 Jan 2024 10:24:36 +0000 https://www.legalcheek.com/?p=200652 31 of 37 staying on

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31 of 37 staying on


Freshfields has published its trainee retention rate for the spring 2024 season.

The Magic Circle outfit has confirmed that it offered roles to 32 of its 37 trainees, with 31 accepting. This hands the firm a score of 84%, down slightly from the 90% (36 out of 40) it posted in autumn 2023.

The Legal Cheek Firms Most List 2024 shows that Freshfields recruit around 100 trainees each year, offering a first year salary of £50,000, rising to £55,000 in year two. New associates can except to receive £125,000, a six-figure sum in line with its MC rivals.

The 2024 Legal Cheek Firms Most List

Craig Montgomery, partner, and training principal at Freshfields, said:

“We are pleased to see many of our trainees continue their careers at Freshfields. As always, we recognise that they have demonstrated exceptional skills and dedication throughout the Trainee Associate Programme. Our commitment to investing in each of our trainees is part of ensuring the delivery of excellent client service, as well as helping to develop the careers of a diverse group of talent.”

Freshfields is now the second member of the Magic Circle to release its spring result, with Allen & Overy confirming a score of 77% (30 out of 39) earlier this month.

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Meet the Magic Circle managing partner who races Lamborghinis in his spare time  https://www.legalcheek.com/2023/08/meet-the-magic-circle-managing-partner-who-races-lamborghinis-in-his-spare-time/ https://www.legalcheek.com/2023/08/meet-the-magic-circle-managing-partner-who-races-lamborghinis-in-his-spare-time/#comments Thu, 17 Aug 2023 08:19:49 +0000 https://www.legalcheek.com/?p=191827 Freshfields' Mark Sansom lives life in the fast lane

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Freshfields’ Mark Sansom lives life in the fast lane

Freshfields’ London managing partner Mark Sansom

Few City lawyers can boast a hobby quite as adrenaline-pumping as Mark Sansom’s.

When he’s not busy heading up the Freshfields’ London office, Sansom’s relaxing leisure activity of choice is his side career as a successful international racing driver — and he’s currently behind the wheel of an impressive looking Lamborghini Huracan GT3 EVO2 (pictured below).

 

View this post on Instagram

 

A post shared by Mark Sansom (@mark_sansom)

For those of you familiar with motorsports, the top law competes at Fédération Internationale de l’Automobile (FIA) bronze level and is part of a professional racing team called Barwell Motorsport (@barwellmotorsport), which owns the spec’d up Lambo.

The 2023 Legal Cheek Firms Most List

The team is best known for competing in high-level, fast-paced races such as the GT racing championships in the US and across Europe. Sansom recently took part in the British GT Championship 2023.

Legal Cheek understands the racing commitment is not substantial with only seven race weekends spread between March and October.

 

View this post on Instagram

 

A post shared by Mark Sansom (@mark_sansom)

Following his LLB at the University of Manchester, Sansom joined Freshfields’ as a trainee in 1999 and was a partner at the firm for 12 years heading up its dispute resolution and global antitrust litigation groups. He was promoted to London managing partner in May 2023.

In previous seasons Sansom has raced for Assetto Motorsport, racing first a Ginetta G56 GT4 in 2019, then switching to a Bentley Continental GT3 around 2022.

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Freshfields confirms it will no longer publish its financial results https://www.legalcheek.com/2023/07/freshfields-confirms-it-will-no-longer-publish-its-financial-results/ https://www.legalcheek.com/2023/07/freshfields-confirms-it-will-no-longer-publish-its-financial-results/#comments Wed, 26 Jul 2023 13:28:03 +0000 https://www.legalcheek.com/?p=190499 Revenue and partner profits up in final figures to media

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Revenue and partner profits up in final figures to media

Magic Circle law firm Freshfields has confirmed it will, going forward, no longer publish its financial results as it revealed rises to both revenue and partner profits for 2022-23.

Freshfields said that all legally required financial information will continue to be available via Companies House. “We consider the real sign of the firm’s progress to be based on the quality of business we’ve built and the client mandates we’re winning around the globe,” said firm managing partner Rick van Aerssen.

The final set of press-released financials show revenue grew to £1.84 billion, an 8% increase on the £1.7 billion it posted the previous year. Average profit per equity partner (PEP) rose by 1% to £2.09 million, making Freshfields the only Magic Circle firm to record a PEP rise this year.

Commenting on the results, Freshfields senior partner Georgia Dawson said:

“We have a global growth strategy that puts the U.S. at the heart of the firm alongside our leading European, Asia and MENA businesses. It provides a unique global offering for our clients that sees them turn to us for their most strategic matters crossing practices and borders. Everything we are doing is driven by what our clients need in a rapidly changing world.”

The 2023 Legal Cheek Firms Most List

The decision means moving forward the firm will be taking the same approach as Magic Circle competitor Slaughter and May, which historically has not disclosed its financial results.

Elsewhere in the Magic Circle, Allen & Overy posted a 7% uptick in revenues to £2.1 billion; Linklaters also published a 7% uplift to £1.9 billion; and Clifford Chance recorded a marginally smaller 5% increase to £2.06 billion.

Earlier this week London law firm Mishcon de Reya said it will no longer publish its PEP figure, describing the popular metric as not helpful or useful for “a business like ours”.

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8 top law firms make ‘gender equality’ power list https://www.legalcheek.com/2023/06/8-top-law-firms-make-gender-equality-power-list/ Fri, 30 Jun 2023 10:43:20 +0000 https://www.legalcheek.com/?p=188509 Recognised for efforts on pay, rewards and family-friendly policies

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Recognised for efforts on pay, rewards and family-friendly policies

This year’s ‘Top 50 Employers for Gender Equality’ list is out and City firms have secured eight spots.

Now in its 13th year, the list is put together by the charity Business in the Community (BITC) in conjunction with the Times. The order of the list is not ranked and includes employers from the worlds of banking, consultancy, insurance, and law.

The eight City law firms recognised for their efforts towards gender-equal workplaces this year are, in alphabetical order, Addleshaw Goddard, Burges Salmon, CMS, DWF, Eversheds Sutherland, Freshfields, Linklaters and TLT.

Applications were evaluated in three independent rounds of blind assessment on the work undertaken to remove gender inequalities in the workplace, from flexible working to family-friendly policies, to pay, reward, progression at work, and hearing employees’ lived experiences and voices.

The 2023 Legal Cheek Firms Most List

Burges Salmon has made it onto the list for the third year in a row, an achievement that senior partner Chris Seaton accredited to the firm’s Gender Taskforce which he chairs. “Whilst we recognise that this is a work in progress and a long journey, it’s great to be one of the organisations that have been recognised for shifting the dial in relation to gender equality,” he said.

Meanwhile, TLT, another firm on the list, was in the news recently when it smashed its female partner target two years early. The Bristol-headquartered firm confirmed last week that women have held 33% of partner roles since the start of the financial year.

Commenting on making this year’s power list, TLT chief people officer Helen Hodgkinson said:

“TLT has come a long way in recent years in redressing gender imbalances and I’m proud to have these efforts recognised on a national platform. Huge congratulations to all who have helped us secure this spot in the Top 50.”

Three of the Big Four accountancy firms, Deloitte, KPMG and PwC, all feature in this year’s list, alongside investment banking giants Lloyds, Natwest, Santander, Deutsche Bank, Goldman Sachs and Morgan Stanley. Other big names include Royal Mail, Sainsbury’s, Ofcom, PepsiCo, Shell and Tesco.

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Freshfields retains 36 out of 40 autumn qualifiers https://www.legalcheek.com/2023/06/freshfields-retains-36-out-of-40-autumn-qualifiers/ https://www.legalcheek.com/2023/06/freshfields-retains-36-out-of-40-autumn-qualifiers/#comments Thu, 29 Jun 2023 09:05:15 +0000 https://www.legalcheek.com/?p=188464 Magic Circle player goes early revealing 90% score

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Magic Circle player goes early revealing 90% score

Magic Circle law firm Freshfields has gone very (very) early with its Autumn 2023 retention score, revealing 36 of its 40 final-seat trainees due to qualify this September are staying put.

Freshfields confirmed it made 36 offers, all of which were accepted. This hands it a solid score of 90%.

The Legal Cheek Firms Most List 2023 shows the firm now offers around 100 training contracts each year across two intakes, following an increase earlier this summer. Trainee salaries sit at £50,000 in year one, rising to £55,000 in year, while newly qualified solicitors earn a salary of £125,000.

The 2023 Legal Cheek Firms Most List

Today’s 90% result is ever so slightly down on the firm’s impressive spring score of 97% (33 out of 34).

Craig Montgomery, partner and training principal at Freshfields, said:

“We are excited that many of our September qualifying intake will continue to develop their careers at Freshfields. Our trainees are all exceptional colleagues and have shown great talent and dedication throughout their training contracts. We are proud of our commitment to invest in future talent, of which our trainee associate programme is an important part. We look forward to watching this cohort’s careers develop in the years ahead.”

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Exclusive: Freshfields increases number of training contracts to 100 https://www.legalcheek.com/2023/06/exclusive-freshfields-increases-number-of-training-contracts-to-100/ https://www.legalcheek.com/2023/06/exclusive-freshfields-increases-number-of-training-contracts-to-100/#comments Fri, 02 Jun 2023 09:35:15 +0000 https://www.legalcheek.com/?p=187681 Magic Circle firm becomes joint-second largest provider following London office growth

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Magic Circle firm becomes joint-second largest provider following London office growth

Freshfields has increased the number of training contracts on offer at the firm to 100, Legal Cheek can reveal, making it the joint-second largest provider in the country.

The Magic Circle firm previously offered 90 training contracts across its spring and autumn intakes, but confirmed to us this figure will increase by 11% to up to 100 for this recruitment year.

Law firms typically hire two years in advance so the 100 new recruits will start in 2025. They complete their training contracts at the firm’s London office in 100 Bishopsgate, and can expect to earn £50,000 in their first year, rising to £55,000 in their second year.

Craig Montgomery, partner and training principal at Freshfields, commented:

“Our London office is growing, reflecting high levels of activity across our practices. Recruitment of trainee talent is a key investment to enable us to meet that demand and deliver excellent client services. We are also proud that the quality and diversity of our intakes are continuously improving and that, because of our balanced offering and long term approach, we retain high percentages on qualification.”

In spring 2023, the latest retention round, Freshfields kept 33 of 34 qualifying trainees, or 97%.

The 2023 Legal Cheek Firms Most List

Magic Circle rival Clifford Chance currently offers the most training contracts in the country, providing up to 110 places as of August 2022. Linklaters, another member of the Magic Circle, a group of five elite UK-headquartered law firms, offers 100 training contracts a year, the same number Freshfields now offers. Slaughter and May and Allen & Overy, the remaining Magic Circle firms, offer 95 and 90 training contracts per year, our 2023 Firms Most List shows.

Outside the Magic Circle, CMS is the biggest training contract provider, offering 95 places a year.

In April 2022, Freshfields increased newly qualified (NQ) solicitor pay by a quarter to £125,000, setting down the marker for its Magic Circle rivals to follow suit. Clifford Chance did so a month later, whilst A&O and Linklaters did so in May 2023.

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Ban for ex-Magic Circle employee who made indecent images of children https://www.legalcheek.com/2023/04/ban-for-ex-magic-circle-employee-who-made-indecent-images-of-children/ Wed, 12 Apr 2023 11:35:31 +0000 https://www.legalcheek.com/?p=186179 Rafikul Ashrafi also convicted of voyeurism

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Rafikul Ashrafi also convicted of voyeurism

A former Magic Circle employee has been barred from working in the legal profession following convictions for voyeurism and making indecent photographs of a child.

Rafikul Ashrafi, a former eBilling administrator with Freshfields, was found in possession of 109 videos and 17 photographs after a police investigation, according to a decision notice published by the Solicitors Regulation Authority (SRA).

The police investigation covered the period between 21 November 2018 and 23 June 2019. He was employed by the firm from 19 December 2019.

On 19 May 2021, Ashrafi plead guilty to one count of voyeurism and two counts of making indecent photographs/pseudo photographs of a child.

The 2023 Legal Cheek Firms Most List

Ashrafi was handed a three-year community order and ordered to undertake 150 hours of compulsory unpaid work. He was also ordered to sign the sex offender register for five years and was made subject of a sexual harm prevention order for the same period.

The firm became aware of his conviction the following day and terminated his employment with immediate effect and reported the matter to the SRA.

The SRA said: “[Ashrafi] has been convicted of serious criminal offences following repeated behaviour towards vulnerable minors over a significant period of time. Although he did this prior to working at the firm, it is undesirable for him to be involved in legal practice. Being convicted of such serious criminal offences is likely to damage public confidence in the safe delivery of legal services.”

Ashrafi was handed a section 43 order, meaning that he can’t work for any firm of solicitors without the regulator’s say-so.

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Magic Circle firms reveal gender pay gap results https://www.legalcheek.com/2023/04/magic-circle-duo-reveal-gender-pay-gap-results/ https://www.legalcheek.com/2023/04/magic-circle-duo-reveal-gender-pay-gap-results/#comments Mon, 03 Apr 2023 08:09:45 +0000 https://www.legalcheek.com/?p=185899 Clifford Chance and Freshfields analyse employee data, including socio-economic background

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Clifford Chance and Freshfields analyse employee data, including socio-economic background

Magic Circle firms Freshfields and Clifford Chance have released their annual pay gap reports analysing data on gender, ethnicity, disability, sexual orientation and socio-economic background.

Freshfields’ 2022 mean gender pay gap is 53.2%, inclusive of partners, representing a slight increase on last year’s result of 52.1%. The gap stood at 54.5% in 2020.

Looking at just partners, the gender pay gap jumped from -2.6% in 2021 to 12.2% in 2022. The mean gender pay gap for employees is 7.6%.

Freshfields also reported an increase in its ethnicity pay gap, from 50.5% to 55.9%. The firm said 20.9% of its UK partners and employees identified as part of a minority ethnic group in 2022.

Freshfields has published its gender pay gap since 2017, and on a voluntary basis, its ethnicity pay gap since 2018.

Its disability and LGBTQ+ pay gaps came out at 8.8% and -2.8%, respectively, a marked improvement on the previous year’s results of 52.5% and 33.4%.

It has released socio-economic pay gap data for the first time by analysing the pay gap between three groups of parental occupational background: professional, intermediate and lower socio-economic. It showed a mean gap of 27.9% between intermediate and professional; 4.4% between intermediate and lower socio-economic; and 31.3% between professional and lower socio-economic.

The 2023 Legal Cheek Firms Most List

Claire Wills, London managing partner, commented:

“We continue to focus on driving measurable change and ensure transparency as part of our diversity and inclusion commitments. I’m particularly pleased that we are including pay gap figures on socio-economic backgrounds this year, which is a key priority for the firm in our global strategy. Our UK colleagues have shown great engagement, and we have worked in partnership with clients and the broader community on multiple efforts, which we believe will help us eliminate pay gaps over the longer term.”

Over at Clifford Chance, the 2022 mean gender pay gap was 63.5%, inclusive of partners, representing a slight decrease on last year’s result of 64.9%.

The gender pay gap for partners dropped from 27.1% in 2021 to 20% in 2022. The mean gender pay gap for employees is 16.6%.

CC also reported a decrease in its ethnicity pay gap this year, from 53.6% to 45.6%. Its disability and LGBTQ+ pay gaps came out at 12.8% and 25.5%, respectively, improving on last year’s 34.4% and 31.3%.

Clifford Chance’s socio-economic pay gap data is calculated via the same system as Freshfields. It showed a mean gap of 37.4% between intermediate and professional; 13.7% between intermediate and lower socio-economic; and 46% between professional and lower socio-economic.

Allen & Overy and Linklaters published their 2022 results earlier this year. Both firms narrowed their gender pay gaps, with A&O going from 59% to 55.7%, and Links from 61.7% to 60.1%, inclusive of partners. Slaughter and May is due to release its report soon.

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Female City law firm leaders share words of wisdom on International Women’s Day https://www.legalcheek.com/2023/03/female-city-law-firm-leaders-share-words-of-wisdom-on-international-womens-day/ https://www.legalcheek.com/2023/03/female-city-law-firm-leaders-share-words-of-wisdom-on-international-womens-day/#comments Wed, 08 Mar 2023 09:25:57 +0000 https://www.legalcheek.com/?p=184899 Legal Cheek asks those at the top of their game for advice to aspiring lawyers

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Legal Cheek asks those at the top of their game for advice to aspiring lawyers

Back row (left to right): Deborah Finkler and Carolena Gordon. Front row (left to right): Georgia Dawson, Laura Cameron, Rebecca Maslen-Stannage, Sally Davies and Penny Angell

As women around the world unite in celebration of International Women’s Day, Legal Cheek has sought out advice from top female partners at the helm of City law firms.

Whilst women outnumber men at law school, studies show these levels peter out the higher up the ranks they go.

So we asked those who have been through the process and gone on to enjoy high-flying legal careers what advice they would give to aspiring female lawyers who are looking to secure training contracts. Here’s what they had to say:

Georgia Dawson, senior partner at Freshfields

Georgia Dawson

“I would encourage women seeking a career in law to be brave and seize opportunities as they present themselves. The profession has made progress with representation, but we know there is still much to do; a major part of that stems from younger generations driving the momentum. Be an ally and support each other. What’s helped me over the years were my family and mentors, both male and female, who gave me the confidence to take on new roles. Everyone faces challenges throughout their career. For me, moving to different countries seemed daunting but ultimately provided the chance to learn, develop and build relationships along the way. So if at first you don’t succeed — do keep trying — the setbacks only make you stronger and more informed for the next opportunity.”

Deborah Finkler, managing partner at Slaughter and May

Deborah Finkler

“It’s almost impossible to know what it’s like to be a lawyer until you are one, so keep an open mind and try to get as much experience as possible across all sorts of things — it will all ultimately make you a better and more well-rounded lawyer.

“Remember that you get all sorts of opportunities at different points in your career, too. I didn’t train at Slaughter and May; that opportunity came along later, so if the first thing you try doesn’t work out, or if you didn’t initially get what you really want, keep trying!”

Rebecca Maslen-Stannage, chair and senior partner at Herbert Smith Freehills

Rebecca Maslen-Stannage

“My big three tips are: 1. Be your real self and show your personality; 2. See your career as something you are driving, taking active control of it rather than seeing it as something beyond your control that just happens to you; 3. Don’t stress too much.

In an interview, it really is important to be yourself. We are not looking for someone who fits a cookie cutter, we value diverse perspectives. If you show your personality, authentic self and ideas in the interview, it’s much easier to establish rapport, put your best foot forward and secure that training contract!”

Penny Angell, UK managing partner at Hogan Lovells

Penny Angell

“Confidence and authenticity are key in landing your dream role. Everyone going for these contracts will have great academic grades so be brave in sharing a bit more about who you are and the qualities that set you apart. Being ambitious is important but don’t overlook the importance of culture and enjoying the people you work with. Follow your heart and values when choosing a law firm, it could be your forever firm.”

The 2023 Legal Cheek Firms Most List

Sally Davies, senior partner at Mayer Brown, London and a member of the firm’s global management committee

Sally Davies

“As women lawyers it is easy to fall into the trap of thinking you have to be something you are not. Why do some practitioners think arrogance, a sense of entitlement and being generally condescending are essential qualities of being an effective lawyer? My advice is be yourself in any interview, as well as at work, have fun, show your personality, but don’t write anything in an email that you wouldn’t want to be read by a grandparent, or your old head teacher, and maintain your dignity. I think the best client relationships are built from personal relationships, trust and interesting personalities. Surround yourself with people who give you energy and who radiate warmth and empathy. I always say ‘stick near radiators not drains’!

We spend a large proportion of our lives at work, so live your work life as you would want to live your personal life. Find friends at work who will make you laugh, have your back, grow and develop with you, share your passion for excellence and make sure you reciprocate. Also — can everyone stop pretending they know everything? Most people make it up as they go along! Asking for help shows a high level of personal confidence that I really admire in people. Seek help from all quarters — keep your eyes and ears open. You might be out and about and see a waiter who appears to have a knack of engaging with everyone he or she meets. Be inquisitive, ask where they learnt to do that. Be open minded about people and opportunities. Don’t forget your business services team — the greatest most untapped source of wisdom, support, experience and creative ideas in the workplace. Don’t over analyse things and don’t reinvent the wheel. Be decisive. Take risks. Decisions are rarely terminal and risk-taking stretches and excites! Most importantly, focus on health not wealth.”

Laura Cameron, incoming global managing partner at Pinsent Masons

Laura Cameron

“Keeping an open mind and embracing new experiences helps you thrive in your career. While it can be daunting, pushing yourself out of your comfort zone regularly will broaden your horizons and enable you to hone your skills. Seek out the people you know have different views from you to avoid working in an echo chamber — it’s positive to be challenged.

When you face a disappointment allow yourself a little time to feel sorry for yourself — but only a little. Be prepared to dust yourself down, pick yourself back up and work out what you could have done better. We all face disappointment from time-to-time. Your reaction to failure or your response to a setback in your career, indeed in life in general, are critically important to your future success.”

Carolena Gordon, senior partner at Clyde & Co

Carolena Gordon

“My advice to women who want a career in law is to show your passion and determination throughout the process. It’s obviously important to demonstrate academic achievement and an ability to learn but what law firms are often looking for, in all candidates, whatever the level, is the passion and determination that will be required to learn the skills you will need to excel with your clients and help your firm succeed. Law firms want people who know what they want and are committed to building a long-term career at their firm, so do your homework and think about what type of law you want to practise, and what type of firm you want to work at. And don’t forget to try things so you learn what you like and what you are good at.

Building a career is also about getting to know yourself so that you can direct your career. Good organisations want people to contribute a diverse range of ideas and perspectives, so you should not fear being yourself in the process too. Like all things in life, don’t go in half hearted; if a role excites you then go for it and give it your very best.”

Do you have any advice for aspiring female lawyers? Share your tips and experiences in the comments below!

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‘I spent over 30 years as a Magic Circle lawyer. Here’s my advice to law students…’ https://www.legalcheek.com/lc-careers-posts/i-spent-over-30-years-as-a-magic-circle-lawyer-heres-my-advice-to-law-students/ Thu, 16 Feb 2023 10:16:39 +0000 https://www.legalcheek.com/?post_type=lc-careers-posts&p=184330 City partner turned tutor at The University of Law Nick Squire offers up his top tips for those seeking to follow in his footsteps, ahead of his appearance at next week's in-person student event in Moorgate London

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City partner turned tutor at The University of Law Nick Squire offers up his top tips for those seeking to follow in his footsteps, ahead of his appearance at next week’s in-person student event in Moorgate London

Nick Squire spent over 30 years working as a Magic Circle lawyer. Now with that invaluable experience under his belt, Squire recently began a new chapter in his career as a tutor at The University of Law.

We caught up with Squire to hear about making the switch from the City to the classroom and what advice he has for the next generation of lawyers seeking to break into the profession, ahead of his appearance at next week’s in-person student event at The University of Law’s campus in Moorgate, London.

ULaw tutor Nick Squire

1. Can you briefly tell us about your background and your role at The University of Law Moorgate?

I started as a tutor at The University of Law in Moorgate in September 2022. I am currently teaching modules on business law and on how the legal profession relates to the wider business world.

Prior to joining The University of Law, I spent over 30 years in private practice with Freshfields, including 24 years as a partner. I ran the firm’s global people and reward practice group for several years, and also spent time as a member of the firm’s executive management committee. I hope I can use my experience to help future generations of lawyers.

2. How have you found the transition to teaching and what are you enjoying the most?

I have really enjoyed it. Continuing training is a key aspect of professional development for lawyers at all levels of seniority, so I had both taught and been taught throughout my time in private practice. I always found the provision of training a fun part of the job, so teaching seemed a natural next step. As I grow ever longer in the tooth, I get a lot from engaging with those who are just entering the profession — I’m sure I learn as much from them as they do from me.

3. What did you enjoy most (and least) about life as a City lawyer?

First and foremost, the people. Until you start work it is difficult to appreciate just how important teamwork is within a law firm. I also really enjoyed the pace, variety and profile of the work. And one should never forget that work in a law firm is all about the client — it was always rewarding to be able to help a client achieve their goal.

The downside is that you will have to work hard and the pace and variety of the work can be stressful as well as exhilarating. However, the pluses (comfortably) outweigh the minuses — otherwise I wouldn’t have spent as many years in the job as I did.

4. How has legal practice changed since you first started as a lawyer compared to now?

It has changed massively. When I first began, not all lawyers had computers and all documents were sent by fax. No-one had heard of the internet. Technological innovation has made the life of a lawyer both easier and harder at the same time. The pace of work tends to be much faster and instant communications mean that you can sometimes struggle for downtime.

Find out more about studying for the SQE at The University of Law

The practice of law has also become increasingly global, and much more integrated with the broader commercial sector as well. Long gone are the days when a lawyer just did the writing and left the numbers to someone else — and there’s a lot more competition within the market too.

5. What, in your view, are some of the biggest challenges law firms face over the next three years?

The market remains hugely competitive. The challenge remains how to differentiate yourself from your competitors in what remains a buyer’s market. Demand has been slowing, expenses (especially salaries) have been increasing and both law firms and their clients have felt the impact of global macro-economic challenges.

Lawyers have talked for a number of years about the impact of technology on legal practise, and all firms have sought to use technological developments to improve efficiency and to enhance client experience. However, the pace of change is now faster than ever. Law firms will be acutely aware that technology is both a real opportunity and a major threat — the vertiginous speed with which innovations such as ChatGPT have captured the public imagination serves as a reminder that significant market disruption can occur very quickly.

6. What advice would you give to students who are in the process of preparing for training contract interviews?

• See if you can find a friend or family member to give you some practise at answering interview questions.

• Make sure you have researched the firm in depth and thought about the wider commercial environment in which it operates. Many interviews now seek to test you on your broader commercial understanding.

• Remember the importance of first impressions — even in the introductory small-talk before the interview starts.

• Try to be authentic — give honest answers, not just ones you think the firm might want to hear.

• You can expect to be challenged on your opinions — don’t be put off, the aim is to see if you are able to stand your ground. Stay calm.

Have some questions to ask at the end — but be prepared to adapt them if you have already been given answers during the interview.

7. What qualities make a good trainee in the eyes of a former partner?

• Take ownership of all your work — never treat the fact that someone will be checking what you produce as an excuse to cut corners. Attention to detail is also incredibly important.

• Show initiative, but don’t be pushy. If you get an opportunity to work with partners, take it: they will be the ones deciding whether they want you in their team and you’ll be on the back foot if they don’t know who you are.

• Make sure you listen very carefully and don’t be afraid to clarify instructions if you don’t understand. Otherwise, your work will be wrong, and you will have wasted your (and everyone else’s) time.

• Be respectful towards everyone you work with, both lawyers and (especially) others.

• Always try to put yourself in the client’s shoes (even if initially you may have only limited client contact). This will help you get into the mindset of working in a professional services firm.

Nick Squire will be speaking at ‘Secrets to Success London — with Ashurst, CMS, Goodwin Procter and The University of Law’, an in-person student event taking place on Tuesday 21 February at the University’s Moorgate campus in London. You can apply to attend the event, which is free, now.

Find out more about studying for the SQE at The University of Law

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Revealed: The law firms with the fanciest offices 2023 https://www.legalcheek.com/2023/01/revealed-the-law-firms-with-the-fanciest-offices-2023/ Mon, 09 Jan 2023 09:40:33 +0000 https://www.legalcheek.com/?p=182604 The results are in! Legal Cheek's exclusive research reveals the outfits with the swishest digs

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The results are in! Legal Cheek‘s exclusive research reveals the outfits with the swishest digs

Law firm offices are playing an increasingly intergral role in attracting lawyers back to their desks as the profession continues to find its feet in the new age of flexible working.

From swanky glass-clad digs offering sky-line views of the City to eco open-plan spaces with every amenity imaginable, firm offices can be a major selling point for clients and aspiring lawyers alike.

With this in mind, Legal Cheek‘s Trainee and Junior Lawyer Survey 2023 asked more than 2,000 respondents: “How impressive is your firm’s office?”. Covering more than 80 of the UK’s biggest outfits, respondents were asked to rate their work spaces on a scale of one to ten — with one signifying “Not at all impressive” and ten as “Highly impressive”.

We can reveal that 19 firms made it to the shortlist, scoring an A* for their offices. Below are the firms listed in alphabetical order. Be sure to check our exclusive TikTok tours too!

Allen & Overy

One Bishops Square, London

Ashurst

London Fruit & Wool Exchange via Instagram (@ashurst_official)

Bird & Bird

12 New Fetter Lane, London via Instagram (@ellacott7)

@legalcheek *takes multiple coffees to desk*📍Bird & Bird #lawfirm #office #london #fyp ♬ Coffee – Quinn XCII & Marc E. Bassy

Burges Salmon

One Glass Wharf, Bristol

Cleary Gottlieb Steen & Hamilton

London Wall Place — via Umbrella Furniture

Clifford Chance

10 Upper Bank Street, London

DLA Piper

160 Aldersgate Street, London — via Twitter (@DLA_Piper)

Freshfields Bruckhaus Deringer

100 Bishopsgate, London — via Instagram (@lloyd_rees)

@legalcheek There is a wall in the new London headquarters of Freshfields, a Magic Circle law firm, that is covered in real live moss! #law #lawfirm #lawyersoftiktok #alive ♬ Nature Love – Nature Sounds

Gowling WLG

More London Riverside

Howard Kennedy

No. 1 London Bridge

Kingsley Napley

20 Bonhill Street via Facebook (@Kingsley Napley LLP)

Milbank

100 Liverpool Street, London — image via Milbank

Mishcon de Reya

Africa House, 70 Kingsway, London

Morrison Foerster

The Scalpel, 52 Lime Street, London via Instagram (@mofo_londongrad)

Norton Rose Fulbright

More London Riverside

@legalcheek Norton Rose Fulbright’s office ticking all the boxes 🤩 #law #office #london #views ♬ Sunroof – Nicky Youre & dazy

Reed Smith

Broadgate Tower, London

Sidley Austin

70 St Mary Axe, London via Instagram (@hettiesphotos)

Vinson & Elkins

The Fenchurch ‘Walkie-Talkie’ Building, London

Walker Morris

33 Wellington Street, London

The 2023 Firms Most List -- featuring the Legal Cheek Survey results in full

As part of the survey each year we give trainees and junior lawyers the opportunity to expand on their scores by submitting anonymous comments. We received hundreds of comments giving us the lowdown on their office digs. Here are a select few comments about some of the shortlisted firms:

“Beautiful — from the weekly flower arrangements, to the bar in the client lounge, I think we have some of the nicest offices in the City.”

“The office is very impressive. The best floor is Floor 11 (the canteen and coffee bar) where all the coffee is free and there is a great balcony to get some fresh air. The working floors are semi-open plan (in pods rather than offices) and department heads are constantly coming up with new plans to make collaborative working easier.”

“It’s a beautiful space and I get the impression clients like coming there, they are also re-working some of the areas to become open-plan with special collaborative working spaces.”

“Incredible office — super spacious, adjustable desks and chair. Fast lifts and lots of communal spaces. Great environment to work in.”

“Feels like a 5* hotel.”

“Everything that you want is here. Temperature controlled rooms, standing desks, sky high views for the late nights.”

The winning law firm in this category will be announced at The Legal Cheek Awards 2023, sponsored by BARBRI and BPP University Law School, on Tuesday 14 March.

The 2023 Firms Most List -- featuring the Legal Cheek Survey results in full

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Freshfields kicks off spring retention season with 97% score https://www.legalcheek.com/2023/01/freshfields-kicks-off-spring-retention-season-with-97-score/ https://www.legalcheek.com/2023/01/freshfields-kicks-off-spring-retention-season-with-97-score/#comments Thu, 05 Jan 2023 12:24:04 +0000 https://www.legalcheek.com/?p=183062 Magic Circle firm retains 33 of 34 trainees

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Magic Circle firm retains 33 of 34 trainees

Freshfields’ London office at 100 Bishopsgate via Instagram (@lloyd_rees)

Freshfields has today revealed a spring 2023 retention score of 97%, keeping 33 of 34 qualifying trainees.

The Magic Circle firm made 33 offers. It does not disclose the departments in which its trainees qualify, nor does it disclose whether any were retained on fixed-term contracts (FTCs).

“We are delighted to see such a positive acceptance rate, with nearly all of our spring qualifying intake continuing to build their careers at Freshfields,” said Craig Montgomery, partner and training principal at Freshfields. “We congratulate them on coming to the end of their training contracts, and the dedication and talent shown throughout.”

The 2023 Legal Cheek Firms Most List

The soon-to-be newly-qualified (NQ) solicitors can expect to see their salaries more than double, from £55,000 per annum to £125,000, our 2023 Firms Most List shows.

Freshfields offers 90 training contracts across two intakes each year. In the last autumn round, the firm retained 86% (32/36) of final-seat trainees, and 92% (33/37) last spring.

Freshfields is the first of five Magic Circle firms to post its spring 2023 score. Expect the rest to follow soon.

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Revealed: The law firms with the best perks — 2023 edition https://www.legalcheek.com/2023/01/revealed-the-law-firms-with-the-best-perks-2023-edition/ Thu, 05 Jan 2023 11:18:46 +0000 https://www.legalcheek.com/?p=182621 From gym subsidies to concierge services, which firms do it best when it comes to those little extras?

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From gym subsidies to concierge services, which firms do it best when it comes to those little extras?

Life as a corporate lawyer can be tough going. Fortunately, the eye-catching perks on offer can help ease the pain.

From super-sized six figure salaries and sky-line swimming pools to private boxes and on-site GPs, Legal Cheek’s exclusive research has shed light on the top freebies dished out by some of the biggest legal names.

The 2,000+ respondents to our annual Trainee and Junior Lawyer Survey 2022-23 were asked to rate their perks on a scale of one to ten, with one signifying ‘Non-existent’ and ten as simply ‘Amazing’.

We’ve collated the scores and below is the shortlist of nine firms that scored an A* for their perks, listed alphabetically:

Best law firms for perks 2023

Allen & Overy
Clifford Chance
Freshfields Bruckhaus Deringer
Milbank
Ropes & Gray
Sidley Austin
Travers Smith
Weil Gotshal & Manges
White & Case

The 2023 Firms Most List -- featuring the Legal Cheek Survey results in full

As part of this year’s survey, we also received hundreds of anonymous comments from junior lawyers about the perks on offer at their firms. Here are a select few from some of the shortlisted firms above.

How good are your firm’s perks?

“Swimming pool and gym on the fifth as well as private healthcare, what more could I ask for?”

“Rooftop terraces, gym and sauna facilities and some handy corporate discounts!”

“We have free gym, GP and other services on-site. Plus the usual for a subsidised price (coffee, good canteen, dry cleaning, dentist, discounts for shops/restaurants around us, cycle to work schemes etc.)”

“Free breakfasts twice a week, free lunches daily, concierge services to support with life admin tasks and bookings.”

“Without question, the breakfast and lunch being free and available in the office every day is an incredible perk. It makes life so much easier not having to think about that. Dinner service is about to return too, which is great. There’s a physio in the office and you can book in to get a massage a few times a year.”

“Use of the firm’s O2 box (if not in use by partners or clients), a gym in the office, free entry to the National Gallery. The firm’s café is pretty good too.”

“Free breakfast, lunch and dinner and cabs home. I can’t complain. £500 wellbeing allowance, free private health etc. No complaints.”

The winning law firm in this category will be announced at The Legal Cheek Awards 2023, sponsored by BARBRI and BPP University Law School, on Tuesday 14 March 2023.

The 2023 Firms Most List -- featuring the Legal Cheek Survey results in full

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Revealed: The best law firms for training and quality of work 2023 https://www.legalcheek.com/2022/11/revealed-the-best-law-firms-for-training-and-quality-of-work-2023/ Fri, 18 Nov 2022 08:42:13 +0000 https://www.legalcheek.com/?p=181175 From top career development to big ticket deals -- which outfits do it best?

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From top career development to big ticket deals — which outfits do it best?

The results are in! Legal Cheek’s exclusive survey reveals the law firms with the highest scores for training and quality of work.

The Legal Cheek Trainee and Junior Lawyer Survey 2022-23 questioned over 2,000 trainees and junior associates on what life is like at the UK’s leading law firms, with a handful of firms scoring an A* in the training and quality of work categories.

Respondents rated the training they’ve received on a scale of 1 to 10 — with 1 being ‘very poor’ and 10 being ‘excellent’. Similarly, respondents rated the quality of work from ‘not at all stimulating’ to ‘highly stimulating’. Firms are then scored from A* to D on the Legal Cheek Insider Scorecard for each category.

With these two categories being the centrepiece of a training contract, achieving the highest possible grade is a sure-fire way to attract the attention of training contract seekers.

A total of six law firms scored A*s and feature in the shortlist for both categories: Burges Salmon, CMS, Farrer & Co, Mills & Reeve, Osborne Clarke and Willkie Farr & Gallagher. Below are the results listed alphabetically:

Best law firms for training 2023

Addleshaw Goddard, Allen & Overy, Bryan Cave Leighton Paisner, Burges Salmon, CMS, Clifford Chance, Dentons, Farrer & Co, Freshfields, Herbert Smith Freehills, Linklaters, Macfarlanes, Mayer Brown, Mills & Reeve, Osborne Clarke, Pinsent Masons, RPC, Shoosmiths, Slaughter and May, TLT, Travers Smith and Willkie Farr & Gallagher

The 2023 Firms Most List -- featuring the Legal Cheek Survey results in full

Best law firms for quality of work 2023

Akin Gump, Burges Salmon, CMS, Farrer & Co, Forsters, Hogan Lovells, Latham & Watkins, Lewis Silkin, Mills & Reeve, Mishcon de Reya, Osborne Clarke, Ropes & Gray, Shakespeare Martineau, Shearman & Sterling, White & Case and Willkie Farr & Gallagher

Through submitting anonymous comments in the survey, respondents could expand on their scores to give further insight into their experiences at their firm. Here is a selection of comments from some of the above firms:

How would you describe the training you have received?

“People are interested in your day to day development as well as the broader picture of how you develop key skills as a junior lawyer. There is an active effort to keep you from doing too much of the same thing. Everyone has so much time for trainees and you can tell they take real enjoyment and supervision and teaching.”

“Training is consistent, well planned and practical.”

“The continued support and guidance has really helped my ability to move between different departments smoothy, understand the areas of law I’d like to work in and provide career guidance for the next steps to qualification.”

“Very high end. I’ve been working directly with very senior people since I started. I’m allowed to make tasks my own and take ownership of them which I’m very pleased about. I’ve developed hugely in a short period of time.”

“Supervisors and the wider teams are genuinely invested in the provision and quality of training (largely because we are seen as the future of the firm).”

How stimulating is the work you are given?

“Throughout my training contract there has been a recognition of when I’ve been reaching my comfort zone and a constant effort to keep pushing me further whilst supporting me at the same time. I have been able to run my own matters and take real ownership over pieces of work.”

“Trainees get involved in top work from day one. No photocopying or printing!”

“As a trainee I have received a broad range of work from the more classic “trainee” tasks to leading workstreams, drafting contracts and leading on client calls.”

“I’ve been given a broad range of contentious and non-contentious work. The breadth of work includes drafting documents, assisting on the signing process for large scale transactions and preparing documents for court hearings.”

“The work is overall of great quality and there is lots of trust from the team.”

The winning law firm in each category will be announced at The Legal Cheek Awards 2023, sponsored by BARBRI and BPP University Law School, on Tuesday 14 March.

The 2023 Firms Most List -- featuring the Legal Cheek Survey results in full

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Ex-Freshfields partner appointed Court of Appeal judge https://www.legalcheek.com/2022/11/ex-freshfields-partner-appointed-court-of-appeal-judge/ https://www.legalcheek.com/2022/11/ex-freshfields-partner-appointed-court-of-appeal-judge/#comments Fri, 04 Nov 2022 08:51:28 +0000 https://www.legalcheek.com/?p=181181 Sarah Falk becomes only the third solicitor to achieve feat

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Sarah Falk becomes only the third solicitor to achieve feat

Lady Justice Falk – Credit: The 100 Years Project

A former partner at Magic Circle law firm Freshfields has been appointed to the Court of Appeal, making her only the third ever solicitor to sit in England and Wales’ second highest court.

Dame Sarah Falk’s appointment to the position of Lady Justice of Appeal will see her become the only solicitor of the 37 judges serving in the Court of Appeal. The rest are barristers.

Having studied law at Cambridge University, Falk qualified as a solicitor in 1986. She specialised in tax law and became a partner at Freshfields in 1994.

In a 2019 interview with the First 100 Years Project, she described the challenges of being a woman in a then male-dominated industry. “Within the firm, I personally didn’t feel I suffered any form of discrimination,” she recalls. “But where I did notice it was in dealings with clients and business. It was the absolute norm to go into a meeting of possibly 20 people and you would be the only woman there.”

Apply now for the final Legal Cheek Virtual Law Fair of 2022 on Tuesday 22 November

In 2013 she retired from the partnership and two years later was successfully appointed as a Deputy Judge of the Upper Tribunal, Tax and Chancery Chamber.

By 2018, Falk had become one of only three solicitors to be appointed directly to the High Court bench from private practice, and the first woman to do so.

Commenting on the appointment, Freshfields senior partner Georgia Dawson said: “I’m very pleased to hear of Dame Sarah Falk’s deserved appointment as a new Lady Justice of Appeal, demonstrating the growth of diverse representation and senior female role models within the judiciary. Sarah is an inspiration to talented lawyers across the profession.”

Figures published by the government show that the proportion of non-barrister judges sat at 31% on 1 April 2022. Despite solicitors making up nearly half (45%) of the applications for judicial appointments in 2021-2022 compared to 39% from barristers, only 27% of those receiving recommendations were solicitors whilst 54% were barristers.

Law Society president Lubna Shuja said: “Solicitors bring particular skills and experiences to the judicial process and decision-making. They also come from more diverse backgrounds than the barristers who traditionally populate the bench.”

She continued:

“Lady Falk is currently the only solicitor on the Court of Appeal, and will be only the 20th Lady Justice of Appeal ever, which demonstrates there is still much progress to be made before the judiciary reflects wider society. I’m sure her appointment will encourage solicitors with judicial aspirations that there need be no limits to their ambition.”

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Freshfields lawyers to work from office at least three days a week in agile policy tweak https://www.legalcheek.com/2022/08/freshfields-lawyers-to-work-from-office-three-days-a-week-in-agile-policy-tweak/ https://www.legalcheek.com/2022/08/freshfields-lawyers-to-work-from-office-three-days-a-week-in-agile-policy-tweak/#comments Mon, 15 Aug 2022 08:19:49 +0000 https://www.legalcheek.com/?p=178554 Previously 50%

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Previously 50%

Freshfields has announced a change to its agile working policy for staff in its London and Manchester offices.

The Magic Circle firm, which since March 2021 has allowed its employees to work from home 50% of the time, will now expect its partners, associates and trainees to go into the office at least three days a week according to new internal policy guidelines.

This is, however, an interim approach that may change over time and the application of the new guidelines will vary by team to reflect the range of work that is conducted.

The Magic Circle firm moved from its office on Fleet Street into its current London gaff at 100 Bishopsgate last year. We took a look around, and specifically the firm’s fancy ‘living wall’, earlier this year (see TikTok below).

@legalcheek There is a wall in the new London headquarters of Freshfields, a Magic Circle law firm, that is covered in real live moss! #law #lawfirm #lawyersoftiktok #alive ♬ Nature Love – Nature Sounds

The future of agile working post-pandemic has varied from firm to firm. Last year, RPC told lawyers and staff they could work from home permanently, whilst in April Stephenson Harwood announced it will reduce the salaries of staff who want to work from home permanently by 20% with a policy that staff must work from the office three days a week.

This month US outfit Shearman & Sterling is giving all its London staff the option to work remotely following feedback from an internal survey of its staff.

Applications are open for the Legal Cheek September UK Virtual Law Fair 2022

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US firm salaries ‘almost 50% above’ Magic Circle rivals thanks to favourable exchange rates https://www.legalcheek.com/2022/08/us-firm-salaries-almost-50-above-magic-circle-rivals-thanks-to-favourable-exchange-rates/ https://www.legalcheek.com/2022/08/us-firm-salaries-almost-50-above-magic-circle-rivals-thanks-to-favourable-exchange-rates/#comments Mon, 01 Aug 2022 08:24:44 +0000 https://www.legalcheek.com/?p=178102 New research comes as NQ rates hit record £179k

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New research comes as NQ rates hit record £179k

Some US law firms’ dollar-pegged salaries in London are “almost 50% above” those provided by their Magic Circle counterparts, according to new research.

This comes after favourable exchange rates saw Akin Gump‘s NQ salary rise in its GBP value to £179,000. At present, Clifford Chance and Freshfields offer £125k NQ rates, whilst Linklaters and Allen & Overy pay £107,500. Slaughter and May‘s NQ pay sits in between these duos at £115k.

“It truly has been the perfect storm. A combination of Brexit, a delayed start in degrees, and a pause in junior hires in 2020 has left many law firms scrambling to fill the gaping hole in their talent pipeline”, explained Dan Harris, a director at consultancy firm Robert Walters which undertook the research.

Applications are open for the Legal Cheek September UK Virtual Law Fair 2022

“It was not long ago where the biggest graduate earners in London typically worked within tech or banking — but lawyers are very much at the top of that chain and there are no signs yet of this slowing down”.

The research also revealed which lawyers are currently most in demand. Tax lawyers come out on top with a 21% increase in vacancies over the past 12 months. They are followed by real estate and M&A lawyers where vacancies are up 8% and 7% respectively.

Least in demand are banking lawyers (-24%), following by dispute & resolution (-8%) and employment law practitioners (-7%), following exceptionally high demand last year.

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Freshfields partner profits push past £2 million https://www.legalcheek.com/2022/07/freshfields-partner-profits-reach-2-million/ https://www.legalcheek.com/2022/07/freshfields-partner-profits-reach-2-million/#comments Wed, 27 Jul 2022 10:04:41 +0000 https://www.legalcheek.com/?p=178009 Strong performance despite “tightening market conditions”

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Strong performance despite “tightening market conditions”

Magic Circle firm Freshfields has reported a 10% uptick in revenues in its latest financial results.

This takes the firm’s revenues for the year ending 30 April 2022 to £1.7 billion, its sixth consecutive year of growth. Profit per equity partner (PEP) has also risen to £2.07 million, up from £1.91 million.

Despite “tightening market conditions globally”, Rick van Aerssen, Freshfields’ managing partner, considered this year’s financials a “robust set of results for the firm, reflecting our continued commitment to deliver for clients around the world”.

He added: “Our achievements over the past 12 months are testament to the dedication of colleagues across our global network, who continue to set a high bar for advisory work in Freshfields’ core areas of litigation, M&A and regulatory. We look forward to pushing on further this year to meet the strategic goals we’ve set across our core markets, and our ongoing expansion in growth markets such as the U.S.”.

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The firm revealed that the headcount in their Silicon Valley office, launched in 2020, has doubled. Freshfields also appointed capital markets lawyer Sarah K. Solum as its new US Managing Partner in August 2021. The firm did not provide a breakdown of the profits per region.

Freshfields results follow Clifford Chance and Allen & Overy who both recorded partner profits around the £2 million mark. A&O has seen particular success in the US that made up over 50% of its revenue growth.

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