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<blockquote data-quote="Alice G" data-source="post: 11654" data-attributes="member: 1160"><p>Hi everyone!!</p><p></p><p>Here is another update for you - I hope you enjoy reading!</p><p></p><p><strong><span style="font-size: 15px">The Lawyer: ‘US Top 50: The best and worst performers in gender diversity’ <strong>(20th June 2019) </strong></span></strong></p><p><strong><span style="font-size: 15px"></span></strong></p><p><strong><span style="font-size: 15px"><strong>Summary:</strong></span></strong></p><p><span style="font-size: 15px"></span></p><p><span style="font-size: 15px">The outlook for female partnership at US firms is slightly more damning than at their UK counterparts, but things are looking better!</span></p><p><strong><span style="font-size: 15px"></span></strong></p><p><strong><span style="font-size: 15px"><strong>Article: </strong></span></strong></p><p><span style="font-size: 15px"></span></p><p><span style="font-size: 15px">Data from <em>The Lawyer</em> US shows that women comprise 21.6% of all UK-based partners within the top 50 US firms, with the average proportion of female partners being 19.9%. The number of female partners in the top 50 US firms in UK offices was 411 out of a partnership of 1,901.</span></p><p><span style="font-size: 15px"></span></p><p><span style="font-size: 15px">Comparatively, women made up a quarter of all partners in the top 100 UK firms based on a report last year.</span></p><p><span style="font-size: 15px"></span></p><p><span style="font-size: 15px">Despite the glum outlook for female partnership at US firms, there have been year-on-year increases.</span></p><p><span style="font-size: 15px"></span></p><p><span style="font-size: 15px">Below are the top ten firms for gender-diversity ranked by the % of female partners in UK offices:</span></p><ol> <li data-xf-list-type="ol"><span style="font-size: 15px">Greenberg</span></li> <li data-xf-list-type="ol">Brown Rudnick</li> <li data-xf-list-type="ol">Ropes & Gray</li> <li data-xf-list-type="ol">Orrick</li> <li data-xf-list-type="ol">McDermott Will & Emery</li> <li data-xf-list-type="ol">Boies Schiller Flexne</li> <li data-xf-list-type="ol">Willkie Farr & Gallagher</li> <li data-xf-list-type="ol">Baker McKenzie – now has 31 female partners in London out of a total of 113. This is up from 24 female partners in 2017</li> <li data-xf-list-type="ol">Cadwalader</li> <li data-xf-list-type="ol">White & Case – now has 27 female partners up from 21 in 2017.</li> </ol><p><span style="font-size: 15px">In terms of the least diverse US firms, Davis Polk, Paul Weiss and WilmerHale have no female partners in their UK outfits. But this is an improvement upon 2017 figures when five US firms did not have female partners.</span></p><p><span style="font-size: 15px"></span></p><p><span style="font-size: 15px">Below are the bottom ten firms for gender-diversity ranked by the % of female partners in UK offices (number one being the worst):</span></p><ol> <li data-xf-list-type="ol"><span style="font-size: 15px">Davis Polk</span></li> <li data-xf-list-type="ol">WilmerHale</li> <li data-xf-list-type="ol">Paul Weiss</li> <li data-xf-list-type="ol">Baker Botts</li> <li data-xf-list-type="ol">Winston & Strawn</li> <li data-xf-list-type="ol">Cleary Gottlieb</li> <li data-xf-list-type="ol">Sullivan & Cromwell</li> <li data-xf-list-type="ol">Katten</li> <li data-xf-list-type="ol">Weil</li> <li data-xf-list-type="ol">Vinson & Elkins</li> </ol><p></p><p><strong><span style="font-size: 15px">Legal Week: ‘Top 50 Firms Have £5.6BN Of Unpaid Client Invoices’ <strong>(20th June 2019) </strong></span></strong></p><p><strong><span style="font-size: 15px"></span></strong></p><p><strong><span style="font-size: 15px"><strong>Summary:</strong></span></strong></p><p><strong><span style="font-size: 15px"></span></strong></p><p><span style="font-size: 15px">Law firms have unpaid feeds mounting year on year and it spells trouble for their balance sheets. </span></p><p><strong><span style="font-size: 15px"></span></strong></p><p><strong><span style="font-size: 15px"><strong>Article: </strong></span></strong></p><p><span style="font-size: 15px"></span></p><p><span style="font-size: 15px">Law firms are increasingly the victims of unpaid client fees which is impacting their balance sheets. </span></p><p><span style="font-size: 15px"></span></p><p><span style="font-size: 15px">Research by <em>Legal Week</em>, in conjunction with Smith & Williamson, found that £5.6 billion is due to the top 50 LLPs due from clients at the end of the last financial year. This figure is up 9% from the financial year 2016-2017.</span></p><p><span style="font-size: 15px"></span></p><p><span style="font-size: 15px">Allen & Overy are owed the highest value of unpaid client bills, with £538.5 million due to the firm. </span></p><p><span style="font-size: 15px"></span></p><p><span style="font-size: 15px">Since its three-way merger, CMS has seen a 91% increase in unpaid fees with the figure standing at £186.3 million, up from £97.5 million.</span></p><p><span style="font-size: 15px"></span></p><p><span style="font-size: 15px">According to the data compiled by accountancy firm Smith & Williamson, the top 50 firms collected £17.3 billion in fees in the financial year 2017-18, which means that unpaid invoices amounted to almost a third of their total combined revenue.</span></p><p><span style="font-size: 15px"></span></p><p><span style="font-size: 15px">Firms are increasingly vulnerable to volatile markets when their cash reserves are thinner and more sparse. Withheld fees can lead to cash flow issues which would be all the more devastating should there be an economic downturn.</span></p></blockquote><p></p>
[QUOTE="Alice G, post: 11654, member: 1160"] Hi everyone!! Here is another update for you - I hope you enjoy reading! [B][SIZE=4]The Lawyer: ‘US Top 50: The best and worst performers in gender diversity’ [B](20th June 2019) [/B] [B]Summary:[/B][/SIZE][/B] [SIZE=4] The outlook for female partnership at US firms is slightly more damning than at their UK counterparts, but things are looking better![/SIZE] [B][SIZE=4] [B]Article: [/B][/SIZE][/B] [SIZE=4] Data from [I]The Lawyer[/I] US shows that women comprise 21.6% of all UK-based partners within the top 50 US firms, with the average proportion of female partners being 19.9%. The number of female partners in the top 50 US firms in UK offices was 411 out of a partnership of 1,901. Comparatively, women made up a quarter of all partners in the top 100 UK firms based on a report last year. Despite the glum outlook for female partnership at US firms, there have been year-on-year increases. Below are the top ten firms for gender-diversity ranked by the % of female partners in UK offices:[/SIZE] [LIST=1] [*][SIZE=4]Greenberg[/SIZE] [*]Brown Rudnick [*]Ropes & Gray [*]Orrick [*]McDermott Will & Emery [*]Boies Schiller Flexne [*]Willkie Farr & Gallagher [*]Baker McKenzie – now has 31 female partners in London out of a total of 113. This is up from 24 female partners in 2017 [*]Cadwalader [*]White & Case – now has 27 female partners up from 21 in 2017. [/LIST] [SIZE=4]In terms of the least diverse US firms, Davis Polk, Paul Weiss and WilmerHale have no female partners in their UK outfits. But this is an improvement upon 2017 figures when five US firms did not have female partners. Below are the bottom ten firms for gender-diversity ranked by the % of female partners in UK offices (number one being the worst):[/SIZE] [LIST=1] [*][SIZE=4]Davis Polk[/SIZE] [*]WilmerHale [*]Paul Weiss [*]Baker Botts [*]Winston & Strawn [*]Cleary Gottlieb [*]Sullivan & Cromwell [*]Katten [*]Weil [*]Vinson & Elkins [/LIST] [B][SIZE=4]Legal Week: ‘Top 50 Firms Have £5.6BN Of Unpaid Client Invoices’ [B](20th June 2019) [/B] [B]Summary:[/B] [/SIZE][/B] [SIZE=4]Law firms have unpaid feeds mounting year on year and it spells trouble for their balance sheets. [/SIZE] [B][SIZE=4] [B]Article: [/B][/SIZE][/B] [SIZE=4] Law firms are increasingly the victims of unpaid client fees which is impacting their balance sheets. Research by [I]Legal Week[/I], in conjunction with Smith & Williamson, found that £5.6 billion is due to the top 50 LLPs due from clients at the end of the last financial year. This figure is up 9% from the financial year 2016-2017. Allen & Overy are owed the highest value of unpaid client bills, with £538.5 million due to the firm. Since its three-way merger, CMS has seen a 91% increase in unpaid fees with the figure standing at £186.3 million, up from £97.5 million. According to the data compiled by accountancy firm Smith & Williamson, the top 50 firms collected £17.3 billion in fees in the financial year 2017-18, which means that unpaid invoices amounted to almost a third of their total combined revenue. Firms are increasingly vulnerable to volatile markets when their cash reserves are thinner and more sparse. Withheld fees can lead to cash flow issues which would be all the more devastating should there be an economic downturn.[/SIZE] [/QUOTE]
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