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  • Legislative Decree No. 124 of April 21 1993 introduced the concept of pension funds which could be established in addition to the national compulsory pension system.
  • Clifford Chance has opened a second office in Germany. The Dusseldorf office is intended to capitalize on the heavy industries present in the Rhine-Ruhr area. Jan ter Haar, managing partner of Clifford Chance's Frankfurt office, explains: "We will be doing mainly corporate and M&A work, but we expect to pick up on the presence of IT and media sectors and bolster those practices too."
  • Credit Suisse Group, one of Switzerland's biggest banks, has merged with Winterthur, Switzerland's third biggest insurer. The SFr14.3 billion (US$9.3 billion) merger will make the new group Europe's fifth largest financial services group.
  • Aird & Berlis, Toronto
  • Economic reform is beginning to reach into the Argentine provincial governments. Esteban A Mancuso of White & Case, New York, discusses ways the provinces could solve their financing difficulties
  • Bennett Jones Verchere, Calgary
  • French firm Thomas & Associés, with 50 lawyers, has announced it will merge with 220-lawyer firm Deloitte et Touche Juridique et Fiscal, part of Deloitte Touche Tohmatsu International, on September 1.
  • Franz Nauschnigg, capital markets adviser to the Austrian minister of finance, talks to Graham Field
  • US partners' compensation increased by 3.56% in 1996, and associates compensation was boosted by 4.4%, in an economy where inflation was only 2.7%. These are the most striking results of the latest annual survey of law firm economics published by law firm consultants Altman Weil Pensa.
  • Mid-sized Singapore firm Colin Ng & Partners is adding to its international links. The firm already has a foreign office in Shanghai, and is soon to add offices in both Jakarta, Indonesia and one in Beijing.