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US firm Kelley Drye & Warren has affiliated with an Indonesian firm, Soebagjo, Roosdiono, Jatim & Djarot.The Jakarta firm, which employs 25 lawyers, will complement Kelley Drye's Hong Kong office. Stephen Stein, a partner in New York, will be responsible for the Indonesian Practice Group, though the Hong Kong partners will have a significant role in overseeing the office. Foreign firms' activities in Indonesia are limited, forcing most to affiliate with local firms. Kelley Drye follows Baker & McKenzie, Skadden, Arps, Slate, Meagher & Flom and several other large international firms into Jakarta. US-qualified associate Gregory McMahon will be the first lawyer to move across from the Hong Kong office. "We expect McMahon will be there full-time soon, after which it depends on how business develops," says Stein. "It is probably going to be quite slow for a while, but the potential for growth is there—currency problems notwithstanding."

US firm Baker & McKenzie has worked on more project finance deals this year than any other firm. The figures, published in Privatisation International, include infrastructure deals for 1996 and 1997. The value of projects reported this year rose to US$1.6 trillion.

UK firm Lovell White Durrant has hired capital markets specialist Philip Boys from rival UK firm Slaughter and May. Boys will be a partner in Lovell's Paris office. "We have been doing a lot of capital markets work out of Paris for Indosuez and a number of French banks," says David Hudd, partner in the London capital markets group. "Philip will be involved there, where he has a dual qualification [as a solicitor and avocat]." Boys has wide experience of debt and equity work after 12 years as a partner with Slaughter and May. Reaction to Boys's defection reflects Slaughter and May's receding profile in international capital markets work (see IFLRev survey, February 1997 page 19).

White & Case's London office has lost its senior partner to Latham & Watkins's London office. Latham & Watkins has lured Bernard Nelson, a corporate finance specialist, from its US rival. Latham & Watkins moved to London in 1990 and has since concentrated on project finance work. But the development of a capital markets capacity is a natural one. "Latham & Watkins is one of the premier capital markets firms worldwide, but traditionally it has not been so strong in Europe," says Nelson. "Now I hope we will become one of the premier departments in Europe."

A survey of pay rewards for US in-house lawyers reveals an end to the rise and rise of corporate legal salaries. The study was conducted by the management consulting firm Altman Weil Pensa and jointly published with the American Corporate Counsel Association. According to the survey, chief legal officers, the most senior corporate legal executives, suffered a drop of almost 5% in their compensation (salary plus bonus), and recent law school graduates, traditionally the lowest-paid corporates, saw a 10% fall. On average chief legal officers were paid US$286,621 and new graduates US$46,981.

With the remaining barriers between cantons being dismantled and clients demanding specialist expertise, the traditional divisions within the Swiss market are disappearing. Paul Lee reports

Paris-based Salans Hertzfeld & Heilbronn is to merge with London's Harris Rosenblatt & Kramer. The new firm will practise in London under the name Salans Hertzfeld & Heilbronn HRK. Harris Rosenblatt should be a good fit with Salans Hertzfeld; both firms are active in financing and litigation and the UK firm's English law capacity will enhance the new firm's cross-border financing skills. "In London we focused on international finance work, but had no domestic practice," says George Macdonald, a Salans Hertzfeld partner in London. "Harris Rosenblatt's practice is complementary and its skills are transferable into the international market."

Although still often thought of as accounting firms, the big six are increasingly eager to call themselves professional service providers and offer a full range of services. Legal services are the latest part of that trend. Phillippa Cannon reports

Stephen Williams, general counsel and joint secretary of Unilever, talks to Samantha Wigham

With the enactment of the Pension Law (No. 1,732) of November 29 1996, the pension and social security systems in Bolivia have been reformed and a Pensions Superintendency created to oversee their implementation.