KPMG Law's Move into the US, Rising Rates and PE Investments into Law

This week on Counsel Culture, Olivia is joined by special guest Guy Beringer CBE, KC (Hon), former Senior Partner at Allen & Overy and Chair of the Task Force on Business Ethics and the Legal Profession. Byfield Founder, Gus Sellitto, also joined the episode. Together, they discuss the new Institute of Business Ethics report—a review of how solicitors in England & Wales handle client acceptance in the context of kleptocracy, state capture, and grand corruption.In part one, they explore how these issues manifest in the legal sector, the profession’s responsibility to uphold transparency, and what ethical practice looks like in reality.Part two, out next week, will dive into the report’s recommendations, the role of public trust and PR, and why engagement with civil society is essential.Stay tuned!To download the report, visit: https://www.ibe.org.uk/legal-profession-taskforce.htmlThank you for Listening!

This week, Olivia welcomes Joint Managing Director Michael Evans for a discussion on how law firms are responding to Trump’s impact on the legal industry, the revenue growth of Orrick and Simpson Thacher, the Legal Services Board’s criticism of the SRA, and the BBC’s latest legal drama. Thank you for Listening!

This week, Olivia is joined by Joint Managing Director Ben Girdlestone to discuss the latest updates on Trump’s ongoing battle with big law, including his recent executive order against WilmerHale. They also cover the news that Linklaters is on track to meet its gender diversity targets with the promotion of 34 new partners.Thank you for Listening!

 This week Olivia is joined by Michael Evans, Joint Managing Director at Byfield, to discuss Trump targeting Paul Weiss, firms cutting diversity wording, HSF being fined for sanctions breaches and K&E revenues. To read the stories covered in this week's episode, visit the below links:https://www.reuters.com/world/uk/uk-fines-unit-law-firm-herbert-smith-freehills-breaching-russia-sanctions-2025-03-20/ - UK fines law firm Herbert Smith Freehill’s unit for Russia sanctions breachhttps://www.thelawyer.com/trump-targets-third-law-firm-as-paul-weiss-loses-security-clearances/  - Trumps Targets third law firm s Paul Weiss Loses security clearanceshttps://www.thelawyer.com/nine-firms-cut-diversity-wording-after-trump-probe/ - Nine firms cut diversity wording after Trump probehttps://www.legalbusiness.co.uk/uncategorised/kirkland-ellis-surges-ahead-as-revenue-hits-8-8bn-and-pep-jumps-16/ - Kirkland & Ellis surges ahead as revenue hits $8.8 b and PEP jumpers 16%Apologies for the audio issues in the episode, normal service will resume next week!Thank you for Listening!

Counsel Culture is excited to introduce its new host, Olivia Adam! Olivia, a Senior Account Executive, has been with Byfield for six months and previously worked as a journalist at the International Financial Law Review.In her first episode, Olivia is joined by Joint Managing Director Ben Girdlestone to discuss key legal industry headlines. They explore a judge’s temporary block of Trump’s executive order that threatened a major law firm, the surge in US law firms expanding into London and its impact on job moves, and reports that Business Secretary Jonathan Reynolds could face a hefty fine for allegedly lying on his CV.Thank you for Listening!

This week Meg is joined by Joint Managing Director Michael Evans to discuss the first US firm financial results, as well as Freshfields' LLP accounts, and best practice in releasing the financials.Thank you for Listening!

This week, Meg is joined by Joint managing Director Michael Evans to discuss how the billable hour is still dominant in the legal world, law firm partner pay segmentation, Post Office prosecutions, Prigozhin's lawyers facing no regulatory action and what lawyers are making of the DeepSeek surge. Thank you for Listening!

Meg is joined by Joint Managing Director Ben Girdlestone to discuss how regulatory, cultural, and business frameworks in the US, UK, and EU will evolve after Trump's inauguration. Thank you for Listening!

Meg returns for the second episode of Counsel Culture this year. Joined by Joint Managing Director Michael Evans, they discuss listed firms publishing positive results despite ongoing market volatility, what Quinn Emanuel's results might mean for the litigation market, ethics of barristers being called into question, law firms tackling friction over nonequity partner pay and unusual alliances being drawn between US and European law firms as a result of Trump's second term.Thank you for Listening!

This week Meg is joined by Byfield Associate Director, Beth Durkin. They discuss KPMG Law targeting an alternative business licence in the US, the increase in law firm rates, Private Equity’s Calculated push into law firms and how the last year has reshaped the legal industry globally.To read the articles mentioned in this week's episode, visit the below links: https://www.law.com/international-edition/2025/01/06/kpmg-law-us-targets-alternative-business-licence-shaking-up-legal-status-quo/https://www.thelawyer.com/your-rates-are-unsustainable/https://www.thelawyer.com/a-new-global-order-is-here-to-stay/https://www.law.com/international-edition/2025/01/05/the-quiet-revolution-private-equitys-calculated-push-into-law-firms/Thank you for Listening!