Latest
$30m a year: how US lawyers are shaking up London’s ‘magic circle’
On the coat-tails of a private equity boom, American partnerships are bringing a long-hours, high-pay culture to the City. It’s not for the faint-hearted.
- Suzi Ring
The restructuring bigwig in line for the CFMEU gig
The federal government’s move to appoint an administrator to the CFMEU is surely one of the hottest tickets in town.
- Sarah Thompson, Kanika Sood and Emma Rapaport
- Opinion
- Rear Window
Rupert Murdoch’s family plan explodes
Project Harmony has hit the world’s rockiest succession plan like a tactical nuclear device.
- Neil Chenoweth
Rebel Corrs group seeks move to King & Wood Mallesons
Five partners in Corrs’ employment practice are in discussions to shift to rival firms, after some in the group voted against a controversial contract extension.
- Maxim Shanahan
Scyne to cut 90 jobs amid crunch on Canberra work
Those affected have had a tumultuous year, in which they were obligated to move to the start-up after the firesale only to find themselves unemployed again now.
- Edmund Tadros
Data Trackers
Financial Review consulting salary guide 2022-23
The full guide to how much you can earn at Accenture, Deloitte, KPMG and PwC.
- Edmund Tadros
PwC seeks absolution but can it really change?
The publication of two documents and a video apology for the tax leaks scandal this week was meant to be a circuit breaker. But it won’t be that easy.
- Edmund Tadros
Professional Moves
Rebel Corrs group seeks move to King & Wood Mallesons
Five partners in Corrs’ employment practice are in discussions to shift to rival firms, after some in the group voted against a controversial contract extension.
- Maxim Shanahan
Scyne hires from public service, new KPMG role for former OECD exec
Public sector consulting firm Scyne has appointed its first new managing director, while KPMG has brought on former Labor minister David Bradbury as a partner.
- Edmund Tadros and Tom McIlroy
Fastest-growing firm pledges ‘aggressive’ targeting of legal rivals
Global law firm HFW has booked record local revenue, and says it plans to target competitors for further growth.
- Maxim Shanahan
This Month
HSF’s Australian division outpaces global firm
Herbert Smith Freehills’ Australian arm has booked revenue growth of 15 per cent, as profit per equity partner continues to rise.
- Maxim Shanahan
How London’s top dealmaker fell out of the magic circle of law firms
While many of Britain’s elite law firms are going full throttle with US expansion efforts, Slaughter and May has decided to pull back, raising questions about its future.
- Adam Mawardi
- Opinion
- Rear Window
How Adobe’s PwC tax strategy came unstuck
The manoeuvres of US tech giants to avoid the Multinational Anti Avoidance Law left a paper trail.
- Neil Chenoweth
Consulting downturn shrinks Deloitte revenue by $70m
Deloitte’s revenue suffered a sharp reversal in 2023-24, with revenue in all sectors either flat or shrinking.
- Maxim Shanahan
- Opinion
- Rear Window
Chris Jordan’s valuable insights into shell companies
When it came to regulating the offshore world, the former tax commissioner had personal experience that he could have shared.
- Neil Chenoweth
- Opinion
- Consulting
Why bigger bills equal better value for consulting clients
This ‘designer handbag effect’ is well known in consumer goods, but the same could apply to large professional services firms.
- George Beaton
KordaMentha makes play for Canberra consulting work
KordaMentha has joined Oliver Wyman in setting up a Canberra office to take advantage of the gap left by the big four.
- Maxim Shanahan
KPMG’s ghosts in the machine
A radioactive file outlining partners’ alleged behaviour could be called Wild, Crazy Things that Tax Accountants Do.
- Neil Chenoweth
- Opinion
- Rear Window
The Tax Office, the TPB and the kerfuffle wars
After numerous attempts to sideline Tax Practitioners Board CEO Michael O’Neill, the Tax Office turned its sights on the media.
- Neil Chenoweth
Top lawyers ‘name their price’ as competition runs hot
Major law firms are being forced to adapt their partnership structures as high-earning partners test their value on the open market.
- Maxim Shanahan
Workers’ rights law firm admits to underpaying staff $300,000
Prominent class action firm Slater & Gordon says there are “no excuses” for the underpayment which was due to a decade-long miscalculation of leave entitlements.
- Maxim Shanahan
What went wrong with KPMG’s legal experiment
Finding top lawyers willing to tolerate relative anonymity and powerlessness in a distant corner of a mammoth multinational proved a challenge for the legal division.
- Maxim Shanahan
Ashurst partner profits top $2.5m as US challenge looms
Ashurst’s revenue rose by 9 per cent, and partner profits received a handsome boost. But the UK-based firm is looking to the US as American rivals challenge.
- Maxim Shanahan
Boutique firms prove attractive in big four exodus
Management consultant Sin Yin Long has joined Rennie Advisory, as boutique firms capitalise on instability at the large operators.
- Maxim Shanahan
KPMG pay growth slows in tough market
Pay rises for this financial year were minimal, with graduate salaries increasing by an average of just 1.5 per cent.
- Maxim Shanahan
KPMG axes legal division, dozens of jobs to go
KPMG will undertake its second major restructure in a month, bringing a decisive end to its ill-fated legal experiment.
- Maxim Shanahan
Magellan activist Nick Bolton loses high-stakes battle over legal fees
Nick Bolton’s enemies are legion. Though few can be as determined as John Atanaskovic.
- Myriam Robin
‘Give her a go’: New judge blasts ‘painfully slow’ progress for women
Jane Needham blasted the “painfully slow” progress of women in law and urged barristers to consider briefing “that young woman who went to a school you haven’t heard of”.
- Michael Pelly
Rapid growth puts pressure on law partnership structures
Almost two-thirds of new legal partners are now on a part-salary arrangement as rapid growth puts pressure on equity allocations.
- Maxim Shanahan
Deals bounceback yields $3.8m each for law firm partners
A return to deal-making has resulted in profit allocations soaring at London’s Linklaters, which has an alliance with Australian firm Allens.
- Adam Mawardi