Morning Briefing: Slater & Gordon under pressure from ASIC

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Slater & Gordon under pressure from ASIC
Australian-listed law firm Slater & Gordon will respond to the Australian Securities and Investment Commission’s investigation by changing one of its accounting practices. The Australian Financial Review says that the law firm will report its results today (Friday), four days later than expected, and the ASIC investigation will continue. The results will reveal more about changes to accounting practices and update shareholders on the investigation.
NRF named fastest rising Asia-Pac law brand
Norton Rose Fulbright has been named as the fastest rising law firm brand in Asia-Pacific by Acritas. The firm is at number 4 in the rankings, up from 7th last year. The league table of law brands is the result of votes from legal buyers in Asia-Pac along with those with international needs based outside the region. The rest of the top 5 were Baker & McKenzie (1), King & Wood Mallesons (2), Herbert Smith Freehills (3) and Kim & Chang (5).
Bakers makes promotion to global director of financial processes
Kim Curran has been promoted to the position of global director of financial processes at baker & McKenzie. She has been at the firm for twenty years and has leadership experience through a number of key roles at the firm.
Magic Circle announce retention rates
The Magic Circle firms are announcing their retention rates and the numbers are remaining high. Clifford Chance is top at 96 per cent; Slaughter and May, 89 per cent; Allen & Overy, 86 per cent; Linklaters, 84 per cent; and Freshfields, 83 per cent.
New York lawyers miss out on offices
First and second year associates at Paul Hastings in New York will not be moving into plush new offices next year when the firm relocates. That’s because the firm is innovating its workspace and has decided that the junior ranks would benefit from a more collaborative environment. The Wall Street Journal says that instead of their own offices they will be seated in blocks of 12 pods or cubicles at the end of floors next to windows. Although there has been a move towards open plan workspaces in many firms internationally New York is only just catching up. Real estate firms are waiting to see if Paul Hastings will start a new trend in the city.