Moves:
UK & Ireland
Paul Weiss London Partner Duo Walks to Sidley
The firm’s London deputy head is among the leavers in a very rare loss for the firm’s U.K. base. Ramy J. Wahbeh, Paul Weiss’ deputy London head, and Kaisa Kuusk are leaving the firm to join U.S. rival Sidley, according to people with knowledge of the matter.
5-Strong Shearman Team Defects to Ashurst
The global energy and infrastructure team hire comes just two days after Shearman and A&O announced their merger. Joining Ashurst are London-based project finance partners Sanja Udovicic and Julia Derrick, Seoul-based partner Anna Chung, and Singapore office head Jean-Louis Neves Mandelli and Singapore lawyer Scott Baggett, who is elevated from counsel to partner.
Van Bael & Bellis Launches London International Trade Practice, Hires Ashurst, Crowell Veterans
The firm said the new additions come at a time when clients are facing “growing regulatory scrutiny” from both the EU and the U.K. Michelle Linderman is set to join the new team from Crowell & Moring, where she has spent six years as a partner in the firm’s international trade group.
Quinn Emanuel Launches London IP Litigation Group
Quinn Emanuel Urquhart & Sullivan is launching a contentious IP practice in London, the firm announced on Monday. The practice will be led by David Lancaster, who is set to join the firm from Pinsent Masons in August.
EMEA
Simmons & Simmons Hires Kennedys Partner in Madrid
Simmons & Simmons said it is further developing its insurance capabilities in Spain to help meet the demands of an expanding market. Olivia Delagrange has joined the U.K. firm’s office in Madrid as an insurance partner after nearly a dozen years at Kennedy’s, according to her LinkedIn profile.
APAC
HFW Takes SK Ecoplant GC as Partner for Singapore Practice
Joining from sustainable construction engineering firm, SK Ecoplant, where she was general counsel, Helen Lee will be relocating from Seoul to Singapore.
Han Kun Hires A&O Shanghai Joint Operation Practice Partner
A former Kirkland & Ellis partner, Jing Li joins Han Kun from Allen & Overy’s Shanghai Free Trade Zone joint operation firm, where she was a partner.
Anjie’s Founding Partner Michael Gu Joins Hylands As Senior Partner In Shanghai
The senior partner hire comes less than four months after Hylands made its international debut with the establishment of an overseas office in San Francisco.
Ashurst JV Adds M&A Partner From Korea’s Oldest Law Firm
The appointment of M&A partner Lawrence Jhe coincides with the firm’s hire of five Shearman & Sterling energy and infrastructure lawyers.
Stephenson Harwood Adds Corporate Partner in Hong Kong From Top Chinese Law Firm
Justin Ma is admitted as a solicitor in both Hong Kong and Australia and focuses on the mainland China market.
Beijing-based Commerce & Finance Adds Ex-Norton Rose Corporate Finance Partner in Hong Kong
Terence Lau, previously a partner at Norton Rose Fulbright and Hogan Lovells, has joined the Hong Kong office of Chinese firm Commerce & Finance Law Offices.
Clayton Utz Takes the 3-Lawyer Litigation Team From DLA Piper
Partner Matt Spain joins the Australian firm after three years at DLA Piper. Australian law firm Clayton Utz has hired a partner-led litigation team from DLA Piper, bolstering its litigation and dispute resolution practice in Melbourne.
Freshfields Adds White & Case M&A Partner in Singapore
With the new hire, Freshfields now has seven partners in Singapore. Freshfields Bruckhaus Deringer has hired White & Case partner Jon Bowden in Singapore as the firm continues to build out its office in the city-state.
Stephenson Harwood Takes Hill Dickinson’s Asia Regulatory Head in Singapore
The arrival of M&A and international sanctions partner Jonathan Goacher has boosted Stephenson Harwood’s partner headcount in Singapore to 23.
Linklaters Lands Corporate Partner from Nishimura & Asahi in Tokyo
Linklaters has hired corporate lawyer Yoshiyuki Asaoka from Japan’s largest law firm Nishimura & Asahi as a partner for its Tokyo office. This marks the U.K. firm’s first lateral partner hire in Japan since its appointment of former Ashurst Japan’s corporate partner Tracy Whiriskey in April last year.
The Americas
Foley & Lardner Poaches Hughes Hubbard & Reed’s LatAm Leaders in Miami
Ruben Diaz and Federico Goudie are joining the firm Monday after spending years working together at Hughes Hubbard on mostly Latin American transactional work. The pair say they jumped ship because of the ability to scale at Foley.
Paul Weiss Adds Former Wachtell Executive Compensation Partner in New York
Andrea Wahlquist Brown has decades of experience at both Wachtell and Simpson Thacher.
Milbank Trial Lawyer Jumps to Jenner & Block in LA
Alex Romain is the second litigation partner to join Jenner in California in 2023.
Wiley Builds Telecom Team Amid Growing Activity From AI and Privacy Laws
Several D.C. law firms have been adding talent to their telecom practices, seeing work from AI advancements, new data privacy laws and other recent legislation. Wiley has brought on Crystal Tully as special counsel, bringing years of experience on Capitol Hill.
Gibson Dunn Adds Kirkland M&A Partner as Oil and Gas Co-Chair in Houston
Kirkland & Ellis oil and gas M&A partner Rahul Vashi moved to Gibson, Dunn & Crutcher in Houston, where he is excited to help the office grow.
Trio of Cahill Finance Partners Jump to Paul Hastings
Paul Hastings, continuing a string of lateral hiring in its finance practice, has added three partners from Cahill Gordon & Reindel in New York, including Marc Lashbrook, Josh Zelig and David Barash.
Latham M&A and Finance Partners Jump to Davis Polk
David Penna’s arrival establishes Davis Polk’s infrastructure finance practice, the firm said, adding Thomas Malone’s arrival in the M&A department will “further solidify our leadership position in the market.”
In-House
ASOS Appoints Next General Counsel
The internal appointment at the online clothing retailer is a former Slaughter and May lawyer. In an internal appointment, Emma Whyte takes over from former general counsel and company secretary Anna Suchopar.
AI Startup Valued at $1.5 Billion Hires First General Counsel
“It’s an honour to have the opportunity to roll up my sleeves and work alongside the fantastic team here, moving creativity forward through our powerful AI research,” newly hired Runway GC Cathleen Hartge said on LinkedIn.
Energy GC Stepping Down After Negotiating $19B Purchase
17-year Oneok attorney Stephen Allen departs for GuideStone, a faith-based financial services company.
Promotions & Appointments:
Corporate Litigation Practice Leader Named Potter Anderson’s Next Chair
Peter J. Walsh Jr., who has been at Potter Anderson for the entirety of his more than 35-year career to date, frequently appears in Court of Chancery litigation and has argued before the Supreme Court of Delaware and the Third Circuit Court of Appeals.
Mergers & Alliances:
A&O Shearman Needs 75% Partnership Approval to Get Merger Done
The firms’ leaders insist they are confident of getting the required partner support at a vote to take place this summer.
Office Openings & Closing:
Han Kun Launches First-Ever International Office – in Singapore
The Singapore outfit will be the firm’s third new office in 18 months. Beijing-based Han Kun Law Offices has become the latest law firm to break into the Singapore market, launching a new office in the city-state, according to the firm’s official invitation to its opening ceremony on June 15.
Firms Settling Into New Spaces Amid Flurry of Manhattan Leasing Activity by Legal Industry
According to a report this month from Cushman & Wakefield on leasing activity by law firms across the United States, the top 10 list for new leases or renewals based on square footage included five firms either re-signing or moving into new spaces in New York City over the past year.
Am Law 200 Law Firm Opens in Atlanta, Luring Veteran Lawyers From Georgia Firms
Bradley Arant is launching an office with 20 lawyers, including lawyers who were already leaders at their prior firms, said managing partner Jon Skeeters.
Financials:
Where Are Partner Billing Rates Surging the Most in Big Law?
The median hourly rate for partners in M&A shot up the highest, while partners in Chicago, D.C. and LA saw some of the largest increases. While partner billing rates rose last year all over, they skyrocketed in certain practice areas in Big Law and several U.S. cities, according to a new analysis. Going forward, billing rates are expected to continue another steep increase this year.
Law Firm Partner Hourly Rates Rose Last Year at Biggest Clip in at Least a Decade
“Touching partner compensation is the third rail of law firm politics. You don’t touch it. It can cause a lot of consequences you’re not ready for,” said Ken Callander, principal at Value Strategies.
A&O and Shearman to Adopt Modified Lockstep Model as Part of Merger
The proposed merger would entail both firms agreeing to a compensation model that is different to what they have operated with in the past.
Technology & Innovation:
ChatGPT Faces a Timeout as Legal Turns Its Attention to More Mature, Legal-Specific AI Tools
ChatGPT rarely finds itself in most severe conversations about the use of generative AI in legal, and the focus is instead on the advanced LLMs themselves, such as GPT-4, and how they can best be harnessed to address the needs and concerns of the legal industry.
How AI and Machine Learning Will Transform Your Legal Department
With 80% of executives believing that automation can be applied to any business decision, AI and ML tools are currently the most popular area where business IT departments will invest in 2023.
Does My Company Need an Acceptable AI Use Policy?
With any new technology, the use of AI tools comes with its own set of challenges, including ethical considerations and potential risks. Such issues make it essential for companies to establish an acceptable use policy for the usage of AI tools.
Will the AI Boom Rewrite the Job Description for General Counsel?
“The general counsel does not need to be an expert technologist no more than Bill Gates was actually writing code at the high end of his executive career at Microsoft,” said Jason Winmill, managing partner of the legal department consulting firm Argopoint.
Diversity & Inclusion:
Hamilton, Miller & Birthisel Believes ‘It’s Just Good Business’ to Have Diverse Staff
Diversity in our teams promotes diversity of thought and ideas and allows us to effectively understand and communicate through all spectrums of the legal field. Whether it be with juries or clients it is a strength that few firms can match.
Morgan & Morgan Launches $2 Million Summer Associates Program
For the first time, the firm selected 60 students for its summer associates program, which allows all participants to get exposure to the various levels of plaintiffs’ work from intake to trial, with a “large percentage” of them likely to land a job offer.
Market Commentary:
Why A&O’s Rivals View Its Merger With Shearman as a ‘Huge Threat’
Some insiders at Freshfields, Clifford Chance and Linklaters are inclined to play down the impact of A&O’s proposed merger with Shearman—but others concede it could lead to refreshed approaches to the U.S. market.
As Korean Corporates Exit China, Korean Law Firms Pivot, Focusing On Chinese Investments into Korea
Until a few years ago, Korean companies were pouring into China, giving the China practices of Korean law firms plenty of work. But as demand for that work has declined in the wake of geopolitical and economic pressures, those same firms have found a new revenue stream for their China practices: advising Chinese companies as they invest in South Korea.
The Allen & Overy-Shearman Merger and the End of the Magic Circle Era
In Asia, the merger will give Shearman a needed boost in Southeast Asia, where A&O is a recognized leader. And A&O will suddenly have a lot more bargaining power and pitch appeal with Asian clients looking at American matters, as Shearman is still considered Wall Street royalty.
Are Second Hundred Firms the New 100?
Am Law 100 partners are defecting to the Second Hundred firms for better business development opportunities, and their clients are on board.
Skadden To Mandate 4 Days In Office
The policy, which extends to all attorneys, will go into effect in early September. Skadden Arps Slate Meagher & Flom confirmed Thursday that the firm was returning to four days a week in the office, beginning in early September. A statement issued by the firm indicates that attorneys will be expected to work from the office from Monday to Thursday each week.
The global law firm announced the layoffs Thursday morning, stating affected employees had been notified and provided with “competitive” severance benefits and outplacement assistance.
Some firms are considering deferring start dates to January, coinciding with an expected uptick in demand.
Moves:
UK & Ireland
Van Bael & Bellis Launches London International Trade Practice, Hires Ashurst, Crowell Veterans
Brussels-headquartered Van Bael & Bellis has hired senior lawyers from Ashurst and Crowell & Moring to launch a London-based international trade group. Michelle Linderman is set to join the new team from Crowell & Moring, where she has spent six years as a partner in the firm’s international trade group. Prior to that, Linderman spent 20 years at Ince, having been a partner there since 2007, according to her LinkedIn profile. She will lead Van Bael’s U.K. trade team.
EMEA
Winston & Strawn adds 11-strong transactional team in Paris from local boutique
Winston & Strawn has added an 11-strong transactional team in Paris from local boutique Hoche Avocats. Group including four partners to bolster M&A, labour and finance offering.
Pérez-Llorca Adds Tax Law Team in Madrid
Pérez-Llorca has taken on a more than half-dozen-strong team of tax lawyers in Madrid from the Spanish law firm GTA Villamagna Abogados. The three lawyers leading the move were all partners at GTA Villamagna: Felipe Alonso Fernández, co-managing partner will join Pérez-Llorca as of counsel; Javier Povo will join as a partner; and Antonio Ruiz, an economist, will join as a senior tax counsel.
APAC
Linklaters Lands Corporate Partner from Nishimura & Asahi in Tokyo
Linklaters has hired corporate lawyer Yoshiyuki Asaoka from Japan’s largest law firm Nishimura & Asahi as a partner for its Tokyo office.
Singapore Inks Mutual Agreements With France and Bahrain for Bilateral Judicial Cooperation
This marks the first time Bahrain has sought assistance from Singapore for establishing an international commercial court to be modelled on the Singapore International Commercial Court. The Supreme Court of Singapore and the Supreme Judicial Council of Bahrain have officially launched a project to collaborate on the establishment of the Bahrain International Commercial Court (BICC).
Han Kun Hires Corporate Partner from Tian Yuan in Beijing
Han Kun Law Offices has hired capital markets and M&A lawyer Ray Shi from rival Chinese practice Tian Yuan Law Firm, where he was most recently a Beijing-based partner.
The Americas
Holland & Knight absorbs 28-lawyer boutique in Colombia
Group including seven partners join in Bogotá from Cuberos Cortés Gutiérrez just weeks after US firm hired 17-lawyer team in Mexico from Sánchez DeVanny.
Alston & Bird Bolsters Real Estate Group with Two New Partners in Los Angeles
Joining from Bryan Cave Leighton Paisner, partners Jim Kousoulas and James Litwinovich help guide real estate clients through a variety of complex loan transactions and litigation management strategies, with extensive experience working with a variety of lenders.
Baker McKenzie Adds Tax Partner in Rare Venezuela Hire
Tax expert, Serviliano Abache Carvajal has been hired. The global firm is among a handful of international law firms to maintain an office in the South American country, which was once one of the 20 richest countries in the world. The firm demonstrates its belief that market conditions are improving, which will lead to more work in the country.
Allen & Overy Loses IP Trio to Crowell & Moring
A veteran three-person intellectual property team from Allen & Overy has joined Crowell & Moring in New York, as the firm looks to expand its intellectual property and AI litigation capabilities. Led by IP litigator Paul Keller, the team includes counsel Michelle Wang and James Reed. The group, which will join Crowell’s intellectual property department, focuses on disruptive technologies, including autonomous driving, artificial intelligence, eHealth, among other things.
Crowell & Moring Taps Hogan Lovells Partner as Tax Co-Chair
Washington, D.C.-headquartered Crowell & Moring has added corporate tax attorney Christine Lane from Hogan Lovells as co-chair of the tax group, as Crowell looks to build up its ability to handle the U.S. federal tax aspects of complex business transactions, including joint ventures and domestic and cross-border mergers.
Promotions & Appointments:
Linklaters Appoints Next Portugal Managing Partner
Linklaters has appointed a new managing partner in Portugal. Marcos Sousa Monteiro takes the reins having been a member of the firm for twenty years. He was elected partner in 2015 and took over the corporate and M&A practice in Lisbon the following year.
Mergers & Alliances:
Shearman & Sterling to Merge with Allen & Overy
Shearman & Sterling and Allen & Overy plan to merge combining a revenue of $3.4 billion and roughly 3900 lawyers.
Office Openings & Closing:
Baker Botts secures Ashurst energy projects team for Singapore debut
US law firm Baker Botts has added a team of energy projects and transactional lawyers from Ashurst to open an office in Singapore. The new office will be led by Richard Guit, who has joined from Ashurst’s local office for the launch alongside fellow partners Daniel Reinbott and Michael Harrison and special counsel Jessica Ham and Giles Ashman. Rounding out the Singapore team is global projects partner Lewis Jones, who has relocated from Baker Botts’ London office, and an associate.
With More than 400 Clients in San Francisco, Mintz Prioritizes Office Growth
Mintz continues SF office expansion with laterals from Pillsbury and Jones Day. Mintz, Levin, Cohn, Ferris, Glovsky & Popeo managing partner Bob Bodian didn’t mince words when asked why he thought it was a good idea to expand in San Francisco.
Financials:
Macfarlanes is increasing its pay for newly qualified lawyers by 7% and is now offering a base salary of £115,000, plus individual and firmwide bonuses.
HWF Plans to Double Size in Australia Over Next 3 to 4 Years
Holman Fenwick Willan (HFW) is planning to double its size in Australia by 2026 by hiring partners to expand its corporate and commercial capabilities and grow its commercial litigation and international arbitration practices, according to the firm’s Australia managing partner, Gavin Vallely. The U.K.-headquartered firm, which has almost 100 lawyers, including 26 partners, across its Sydney, Melbourne and Perth offices, has increased its Australian revenue by between 15% and 20% annually over the past three years.
After Revenue and Profits Tumble, Kramer Levin Poised to ‘Capture Our Market Share’ in 2023
Kramer Levin Naftalis & Frankel saw a 6.1% drop in revenue, to $421.44 million, while its average profits per equity partner fell nearly 15% to $2.38 million last year.
Still, firm co-managing partner Howard Spilko noted it was still the firm’s second-highest revenue-generating year ever. And, reflecting the cautious optimism among firms with robust restructuring and litigation practices, he said the firm is poised for a strong year in 2023.
Stoel Rives Sees Revenue, Head Count Fall, but Profits Inch Up Due to Higher-Value Work
Stoel Rives saw revenue fall 2.5% to $263.36 million last year as its lawyer head count dipped 8.7%, linked to a wave of departures in Salt Lake City. Managing partner Melissa Jones said the firm weathered the departures well, pointing to the modest revenue decrease and noted that Stoel Rives remains an attractive option for partners, especially in evolving legal markets.
Technology & Innovation:
Simmons Highlights What Annoys In-House Teams Most About Outside Counsel
More than a quarter of in-house legal teams feel that law firms have inadequate technology to meet their demands, while one in five say they’re unhappy with firms’ slow response times.
Fear or FOMO: Big Law Split on How to Boost Office Attendance
Not so long ago, when the talent market was tight and signing bonuses were flowing into laterals’ bank accounts, the law firm conundrum of how to get lawyers back into the office was viewed as a temporary one. The historic leverage lawyers possessed in deciding how and where they worked would not last, according to law firm leaders, consultants and recruiters, many of whom felt that firms would simply demand attendance when the power dynamics shifted back in favour of law firms.
Diversity & Inclusion:
Anxiety the Focus as More UK Law Firms Spotlight Mental Health
Travers Smith, Freshfields Bruckhaus Deringer, Macfarlanes and Osborne Clarke have joined the host of firms adopting a series of actions this week to honour Mental Health Awareness Week 2023.
Slaughters Rolls Out Podcasts, Yoga and More for Mental Health Awareness Week
Slaughter and May and Herbert Smith Freehills are among the firms rolling out a series of actions this month to help lawyers confront issues around well-being during Mental Health Awareness Week for 2023.
Clyde & Co Launches 26 Weeks Leave for New Parents
Clyde & Co has rolled out a new parental leave policy which will enable staff to take six months of fully paid leave, a policy which the firm has described as “gender-blind”. The offering is available to both mums and dads, regardless of whether they are the primary child carer or not, as well as those adopting, according to a firm statement.
Market Commentary:
Law Firms Are Increasingly Debt Free—Why?
The U.K.’s largest 50 law firms reduced their combined debt by more than £100 million in the 12 months to April 2022, fresh research shows.
Gen-Z Less Interested in Big Law and Traditional Law Firm Paths
Lawyers and aspiring lawyers in the generation showed significantly more desire to work in-house, while the interest to go into government stayed consistent, according to a new survey.
Ranked: UK Law Firms by Carbon Emissions
Partners are fond of saying that the ‘E’ of ‘ESG’ is something their firm takes very seriously. Clients, they say, expect serious commitments from firms on their individual climate efforts. However, by analysing the limited liability partnership financial accounts for the 2021-22 financial year, business advisory company Evelyn Partners has calculated the amount of emissions in kWh per member of each of the top 50 U.K. law firms.
In 2019, 21% of the lateral candidates investigated by due diligence provider Decipher garnered warning signs. In the last three years, that figure has been between 29% and 34%.
Moves:
UK & Ireland
BCLP Continues Rebuilding With 3 Partnership Additions Amid Busy Hiring Market
The firm has strengthened its London white-collar and regulatory practice with the addition of David Rundle, a former criminal barrister who spent almost a decade at U.S. firm Wilmer Hale, where he was counsel.
HFW Flies In Aviation Heavyweight from Clyde & Co Asia
Peter Coles is currently based in Hong Kong and will be relocating back to London to rejoin HFW.
Ashurst Names Next London Managing Partner
Global loans partner Helen Burton, whose term as Ashurst’s London managing partner started on May 1, succeeds previous London leader Logan Mair, who was first appointed to the role alongside EMEA contentious financial services head Lynn Dunne back in 2021.
Cooley Taps Covington Veteran for London Life Sciences Hire
Cooley has strengthened its life sciences practice with the addition of a veteran partner from U.S. rival firm Covington & Burling. Corporate partner Simon Amies, who brings over 25 years experience, joins after more than twenty years at Covington, having first made partner at the firm in 2006, according to his LinkedIn profile.
EMEA
Veteran McDermott Germany Duo Walk to Reed Smith
Reed Smith has added two lawyers to its Munich office from McDermott Will & Emery, including the latter’s former head of private equity in Germany, as well as the founder of McDermott’s Germany branch. Partner Nikolaus von Jacobs joins as a partner in the firm’s Munich office, along with veteran ex-partner Christian von Sydow, who joins as senior counsel.
APAC
Ince Hong Kong Charts Own Path with Partner Hire
Priscilla Wong, most recently a counsel at Loeb & Loeb Hong Kong, has joined Ince’s Hong Kong partnership as a dispute resolution partner in its Hong Kong bench, suggesting the Asia arm of the ailing U.K.-headquartered firm may forge its own path.
Amber Group Legal Head Benjamin Bai Returns to Private Practice for King & Wood Mallesons
One of Greater China’s best-known IP lawyers, Bai joined Amber a year ago from Ant Group, where he was head of the company’s intellectual property legal team, and previously worked at Allen & Overy and Jones Day.
Shearman Hong Kong Loses Two Investigations Lawyers to Steptoe
With McKiernan’s joining, Steptoe will now count three partners in Hong Kong, one of whom is dually based. Steptoe & Johnson has added two investigations lawyers from Shearman & Sterling’s Hong Kong practice. The firm has added Brian Burke and Cáitrín McKiernan as partners to its investigations and white-collar crime practice.
Sullivan & Cromwell Lands Restructuring Partner in Hong Kong From Kirkland & Ellis
Kirkland’s restructuring partner Jacqueline Tang will become Sullivan’s fourth partner in Hong Kong.
HFW Expands Australian Employment Practice with Perth Partner Hire
Holman Fenwick Willan is expanding its Australian employment practice with the hire of partner Simon Billing to its Perth office. Billing has over 30 years of employee relations experience both as a legal practitioner in private practice and employee relations consultant.
The Americas
Paul Hastings Adds Willkie Partner as Firm Seeks M&A Practice Growth
The law firm continues to be active in the lateral market, even in practice areas that aren’t firing on all cylinders right now. Its latest lateral partner hire is M&A lawyer Jon Kubek.
Senior DOJ Official Joins Mayer Brown Amid Big Law Demand for Data Security Lawyers
Adam Hickey, who was a deputy assistant attorney general with the DOJ’s National Security Division, noted that the government “has really strengthened its position on data security and data privacy.”
On the Move: Tracking the Ins and Outs of California Lawyers
New hires, promotions and awards from across the California legal market.
Perkins Coie Lands Renewable Energy Practice Leads From K&L Gates
As the market for renewable energy continues to grow, Perkins Coie has hired two K&L Gates partners who were the firm’s renewable energy practice leads: Portland-based Elizabeth Crouse and San Francisco-based Buck Endemann, the firm said Friday. The duo officially started on May 10.
Longtime King & Spalding Crisis Management Lawyer Moves to McGuireWoods
Adam Sowatzka, who spent the past decade with King & Spalding, joins several others who made the switch between the two firms in recent years.
Trio of Stroock Lawyers Moves to McDermott
Three lawyers from Stroock & Stroock & Lavan’s private client group are heading to McDermott Will & Emery, including the chair of the practice, McDermott said Thursday. The group includes New York-based Anita Rosenbloom, who led Stroock’s private client services group, as well as partner Jay Scharf (Miami) and counsel John Kiely (New York). Rosenbloom said the group is also bringing two fiduciary accountants and an administrator from its team at Stroock.
McCarter & English Lands Startup Pair From Ellenoff Grossman & Schole
Self-proclaimed “startup whisperer” James Smedley and fellow intellectual property attorney Alex Korona have joined New Jersey-based McCarter & English’s Philadelphia and Newark, New Jersey, offices as partners in the firm’s IP practice.
Kirkland Lures Another Capital Markets Partner From Latham
Latham partner Shagufa Hossain joined Kirkland’s D.C. office, following Rachel Sheridan. Kirkland’s capital markets talent grab is the latest in a series of partner moves between the two highest-grossing law firms.
Greenspoon Marder Picks Up Pillsbury Partner Focused on International Transactions
“Whether it’s venture capital or private equity, sophisticated investors want to be in South Florida and it goes throughout industries,” said incoming Greenspoon Marder partner Jon Lyman. “There’s a lot of interesting work going on.”
Mergers & Alliances:
Stroock Plans to Merge With Nixon Peabody
Stroock & Stroock & Lavan and Nixon Peabody are discussing a merger between the firms, targeting this summer for announcing the combination publicly, sources with independent knowledge of the talks say.
Office Openings & Closing:
Dechert to Cut Global Workforce by 5%
The firm, which has offices in the U.K., Asia, the Middle East and Europe, is letting go of 55 attorneys and 43 business professionals, including a “redundancy” process that has begun in London.
Everlaw Lays Off 10% of Global Workforce to Prepare for Economic Uncertainty
This is the latest company to join the ranks of other e-discovery and legal tech companies who have announced layoffs in recent months.
Morgan & Morgan Growing Southeast Georgia Operations, Adding More Space in Savannah
Partner Jody Wade said he expected the Savannah office “to grow exponentially in lawyers and staff” with the move.
US Plaintiffs Firm Berger Montague Opens Toronto Office
“Massive opportunities” prompted Berger Montague’s foray into the Canadian market, the firm said. In the latest instance of a U.S. law firm looking to the Canadian market for growth, plaintiffs class action and commercial litigation firm Berger Montague has opened an office in Toronto.
Financials:
Revenue, Profits Drop at Finnegan in 2022, but Firm Invested in Growth
Among its investments, the intellectual property specialty firm opened an office in Munich. Between its offices in Munich and London, the firm said it now has more than 25 IP professionals in Europe, where the Unified Patent Court is set to open this summer, providing work for IP lawyers.
Brown Rudnick Sees PEP Surge 29% in Banner 2022, With ‘Well-Positioned’ Practice Mix
The firm saw success with a mix of litigation, white-collar and restructuring work. “With the economy headed the way it’s headed, we are well-positioned,” said chairman Vince Guglielmotti.
Just as financial services and IP litigation has helped Quinn grow to more than 40 attorneys in Boston, several other Am Law 200 are circling the market, interested in life sciences, private equity and transactional work.
These Two Firms Ended the UK Pay War—but at What Cost?
The two firms finally decided to match rivals on salaries last week but have they lost out after a year of being behind?
Technology & Innovation:
Corporate Bans of AI Tools Come With Their Own Risks
“You can ban it on company equipment but you can’t ban it on other devices that employees might be using. It would be like banning email, or Google search, or a reticence to using the Google enterprise suite of products,” said Nithya Das, former chief legal officer of Olo.
Ireland’s Shifting Fines Against Meta Reflect Growing Pains for EU Data Privacy Regulation
“Data regulation in Europe is not so complicated, but it’s not so easy, either,” said Marc Mossé, senior counsel at the French firm August Debouzy and a former attorney at Microsoft.
‘It Can Be Trained on Case Law’: How a Lawyer Is Using Generative AI Inspired by ChatGPT
Attorney Matt Q. Wetherington uses the technology to field incoming prospective client calls, for document creation and summarization tasks. He also thinks GPT could revolutionize depositions.
Legal Tech and Operations Firms Join Forces to Target France’s In-House Market
The Anglo-French partnership comes amid increasing demand from in-house teams for legal technology.
The CLO’s Role as the Board’s AI ‘Traffic Cop’
The increasing political, legal, scientific and media focus on the risks of artificial intelligence (“AI”) provides a new opportunity for the chief legal officer to support the role of corporate governance. Indeed, a series of recent developments focusing on the risks of AI have also added a sense of urgency to clarifying the board’s oversight obligations.
How Will ChatGPT Effect Criminal Lawyering?
One supposes that criminal lawyers are often dentist-like in their professional undertakings— trying to “extract” truth from clients, witnesses and even prosecutors. Are we, however, immune from substitution by designated hitters who can hit the ball out of the park digitally?
Diversity & Inclusion:
Law Firms in Australia Will Have to Report Gender Pay Gaps
Advocates hope the move will narrow the pay differential between men and women.
Addleshaws Introduces Raft of Offerings to Ease Partner Retirement Process
The firm’s head of responsible business said that the topic of partner retirement was “shrouded in some mystery and behind door conversations, and we wanted to change that”.
Market Commentary:
Attracted by high yield spreads with Japan’s low interest rates, many global private equity funds are building out their teams to incorporate real estate into their strategy.
‘We Could Be Next’: As Law Firms Swing the Axe, Associates are Getting Anxious
‘What if this quietness means that I’m actually just dead weight that the firm needs to get rid of. That kind of thinking works its way into your bones.’ ‘Aligning staffing with levels of demand’. That was the reason Dechert gave last week for its decision to reduce its global workforce by 5%. The figures tally up: earlier this year, the firm posted a 15% profit dip, so it’s time to get the house in order.
Large Lateral Moves Are Raising the Competitive Ante for Law Firms
Precarious law firm partnerships have been disrupted by pandemic-era working conditions, industry consultants, recruiters and firm leaders have observed. New alliances have been formed across offices at the expense of the ties that used to bind lawyers with regular office attendance.
Gen-Z Less Interested in Big Law and Traditional Law Firm Paths
Lawyers and aspiring lawyers in the generation showed significantly more desire to work in-house, while the interest to go into government stayed consistent, according to a new survey.
Anti-ESG Sentiment Is on the Rise, But Law Firms Aren’t Flinching
Republican lawmakers like Fla. Gov. Ron DeSantis have targeted the concept as they lean into culture war issues, but clients’ demands for advice haven’t ceased.
Moves:
UK & Ireland
Freshfields Appoints Next London Disputes Head
The move comes after former head, Mark Sansom, was appointed London managing partner. Effective May 1, litigation partner Andrew Austin steps up to the role. The change in leadership follows the appointment of former London dispute resolution head, Mark Sansom, to London managing partner last week, according to a person at the firm.
Mayer Brown Swoops on King & Spalding for London Partner Hire
Richard Nelson has joined Mayer Brown as a partner in its global energy group. He leaves King & Spalding after nearly eight years as a partner in the firm’s Singapore office.
Freshfields’ New London Head Takes Charge and Outlines Priorities
Transatlantic cooperation, ESG expertise and UK growth are among Mark Sansom’s key areas of focus in his new role.
Ashurst grows London funds practice with new partner hire
Global law firm Ashurst announces the appointment of Whitney Lutgen as partner in its investment funds practice based in London, as the firm continues the growth of its international funds practice in response to increasing client demand.
EMEA
Paul Hastings Adds Clifford Chance Partner in Germany
Frederik Mühl, a private equity and infrastructure M&A partner, had been with Clifford Chance for 25 years.
Morgan Lewis Without Germany Arbitration Expertise as Trio Exits
It represents a slight reversal of fortunes for the firm which expanded significantly in Germany last month by taking Shearman & Sterling’s entire Munich office.
APAC
Allen & Overy Makes Double Partner Hire From Baker McKenzie Singapore
Allen & Overy has boosted its corporate practice in Asia with the hire of equity capital markets lawyer Kenny Kwan and public mergers and acquisitions lawyer Caryn Ng as partners in Singapore.
Harneys Appoints its First Hong Kong Office Head
Harneys has appointed Paul Sephton, its corporate, banking and finance partner, as the firm’s first Hong Kong managing partner.
Freshfields currently does not have any restructuring, distressed assets or special situation partners based in Greater China. Anderson’s joining with a team of lawyers will launch that focused regional offering for the firm.
Senior Samsung Counsel Returns to Yoon & Yang as Seoul Partner
Big Six South Korean firm Yoon & Yang has hired U.S.-qualified M&A lawyer Irene Kim in Seoul from Korean memory chip and smartphone maker Samsung Electronics, where she was most recently the principal legal counsel.
Singapore Litigation Boutique Setia Law Adds Public Prosecutor to Bench
Victoria Ting was most recently a public lawyer within the financial and technology crime division of the Attorney General’s Chambers (AGC), where she prosecuted and tried cases related to fraud, bribery, money laundering and sanctions.
HFW Hires Construction Partner for Melbourne Office from Jones Day
Ken Hickman returns for his second stint at HFW. HFW is expanding its Australian construction and commercial litigation practice with the hire of partner Ken Hickman in Melbourne, who joins from Jones Day.
Ashurst Hires Two Corporate Partners for its Sydney Office
Ashurst has hired two corporate transaction partners to join its Sydney office, one from Bracewell’s London office and the other from an Australian firm. Jo En Low, a private equity/M&A lawyer who advises financial investors and major international corporates in the renewable energy sector, joins from Bracewell.
DLA Piper and Australia’s Thomson Geer Hire Hong Kong Partners
DLA Piper has hired former Akin Gump Hong Kong partner Naomi Moore as its regional head of restructuring, while Australian firm Thomson Geer has hired a general counsel from the city-state.
The Americas
White & Case, Committing to Grow Litigation Practice, Adds Willkie Partner
Brienne Letourneau is the fourth lateral partner to join White & Case’s commercial litigation practice this year.
Stevens & Lee have hired two new joiners in Valley Forge
Stevens & Lee announced that Derick S. Kauffman and Mark E. Rosenstein have joined the corporate, finance and capital markets department and will be based in the firm’s Valley Forge office.
Baker & Hostetler Hires 8-Lawyer Corporate Team in LA
Will Chuchawat, the co-chair of private equity and M&A at Proskauer, and JR Lanis, the vice chair of securities at Polsinelli, joined the firm along with five other lawyers from their former firms, plus Kirkland.
Alston & Bird Hires 2 Kirkland Partners in Silicon Valley
Simon Root and Jonathan Manor joined the firm’s private equity team after about a decade each at Kirkland.
K&L Gates Expands Public Policy and Law Practice With 3 Additions in DC
K&L Gates continues to grow its public policy and law practice with the addition of Jamie Jackson as a partner, Thomas Fulton as a government affairs advisor, and Leonard Bickwit as counsel in the firm’s Washington, D.C., office, the firm announced Thursday.
Polsinelli, Seyfarth Shaw Announce Partner News
Polsinelli announced the hiring of real estate finance attorneys Joshua F. Reif and Aleksandra Strang to its Atlanta office. Reif and Strang have joined the firm’s real estate finance practice group as shareholders, continuing the firm’s growth there, the firm said a release.
Blank Rome Adds 7-Lawyer International Trade Group From McDermott in DC
The firm is building out its international trade capabilities, as the current geopolitical and economic environment continues to put tension on global government and corporate operations.
SDNY General Crimes Unit Co-Chief Joins Kramer Levin; Brown Rudnick Adds IP Partner
Jordan Estes has joined Kramer Levin as a partner in the firm’s white collar defense and government investigations practice. Brown Rudnick has added Merri Moken as a partner in the firm’s intellectual property litigation practice.
Paul Hastings Hires Morrison & Foerster’s Silicon Valley Litigation Leader
Rudy Kim, an IP litigator for the likes of Tencent and Uber, has joined Paul Hastings in Palo Alto.
Morgan Lewis Lands 10 Stroock Consumer Finance Lawyers on Both Coasts
Five lawyers, including three partners, have already arrived at Morgan Lewis. The new arrivals will be based in New York, Washington, D.C., Miami, Los Angeles and Century City.
Employment Chairs Lead Mass Departure From Lewis Brisbois To Newly Launched Firm
Barber Ranen now has over 110 lawyers focusing on commercial and employment litigation in 12 geographic markets throughout the U.S. Firmwide managing partner John Barber expects that number to grow to between 125 and 140 by the middle of the month.
Peru’s Estudio Muñiz Loses Head of IP and Life Sciences Practice to Local Boutique
Marta Fernández Pepper will lead the IP and life sciences practice at Diez Canseco Abogados, leaving behind a firm she has worked at for nearly three decades.
Longtime Borden Ladner Partner With Big Bank Expertise Joins Gowling WLG in Montreal
Mathieu Lévesque was at Borden Ladner Gervais for nearly 20 years and was the regional leader of the firm’s banking litigation group.
Cory Sherman Joins Cassels as Co-lead of Its Commercial Leasing Team
Sherman makes the move to Big Law after 25 years in a boutique firm he co-founded. Cassels also added a partner in Calgary but lost one in Vancouver.
In-House
Wake Forest Goes Outside to Replace GC Who’s Retiring After 40 Years With School
Brian White comes to Wake Forest from the University of Kansas, where he was GC. Earlier in his career, he was with the University of Iowa.
After Rough Stretch, Fintech With Big Ambitions Hires Legal Chief
Pagaya Technologies is charging ahead with expansion, despite seeing its market cap shrink from $20 billion to less than $1 billion. Eric Watson has joined Pagaya Technologies as chief legal officer.
Insurtech Unicorn Next Taps Fast-Rising Attorney as GC
Rachel Jrade-Rice is taking the legal reins of a tech-driven insurer that reached a $4 billion valuation just six years after its founding.
Deputy GC at Sleep Apnea Device Maker Gets Dream Job
Medical device maker ResMed Corp. has promoted from within to replace global general counsel David Pendarvis, who retires June 30 after 21 years as legal chief. Michael Rider, currently senior vice president and deputy general counsel, will also take on Pendarvis’ role as secretary of the San Diego-based company perhaps best known for its sleep apnea machines.
MADD Names Nonprofit Veteran as Legal Chief Amid Executive-Hiring Spree
Saerin Cho has taken the legal reins of Mothers Against Drunk Driving, which launched in 1980 to fight impaired driving and underage drinking and to assist victims of impaired-driving accidents.
Telemedicine Unicorn Scoops Up Fintech Veteran to Lead Legal Team
Beth Stevens has taken the legal reins of Sword Health. It’s the latest in a string of legal leadership roles for Stevens at fast-growing startups in highly regulated industries.
Girl Scouts Replaces GC Who Became Federal Judge
Diana Beinart, a former White House lawyer who most recently was GC of New York City Department of Finance, will take the reins of the 550-employee nonprofit.
Promotions & Appointments:
Dentons Cohen & Grigsby Announces First Female CEO
Christie Tillapaugh replaces outgoing CEO Christopher Carson on Oct. 1.
Sweep of New Practice Leaders at Clifford Chance, Linklaters and Eversheds
Clifford Chance, Linklaters and Eversheds Sutherland have announced a number of practice management changes. Clifford Chance has appointed New York-based Zarrar Sehgal as the new head of the firm’s global asset finance group.
Watson Farley and Bird & Bird Continue Industry Trend of Increased Partner Promotions
Watson Farley’s promotions follow the recent announcements of offices in Seoul and Tokyo. Watson Farley has promoted 11 of its lawyers to partner, bringing the total number of partners at the firm to 195. Three promotions are in London, two in Rome, with one partner each in Madrid, Tokyo, New York, Seoul, Singapore, and Dusseldorf.
Office Openings & Closing:
Texas Catching the Eye of More Big U.K. Firms
Ashurst and Clyde & Co. are among the large U.K.-founded firms that recently launched small offices in Texas.
Trowers & Hamlins Latest Firm to Seize on India’s Market Liberalisation
Trowers & Hamlins has announced the launch of a new India desk in the latest example of international law firms seizing on new opportunities as India eases entry to foreign law firms.
Canadian Law Firm Bennett Jones Plants Flag in Montreal Market
The Western Canadian firm says it sees new opportunities as well as synergies for its lawyers and clients in Montreal.
Spain’s ECIJA Rolls Out Advisory Offering in Mexico and Elsewhere in Latin America
The business seeks to offer a more comprehensive service to legal clients in need of financial, accounting and other guidance.
Taylor Wessing Takes On More Space in London HQ
A number of firms have been mulling office changes in recent months amid a wider trend back to workplaces.
Financials:
Thompson Coburn Rides Litigation, Corporate Work to 8.5% Revenue Growth
COO Allen Capdeboscq said the firm’s client and practice mix bodes well for the firm to have consistent growth: “Our largest clients account for only 3% of our revenue. We’re not relying on one particular group.”
Riding the Energy Sector Wave, Bracewell Improves Revenue, Profits
Revenue improved by 4.8% in 2022, following a small decline the prior year, due to the volume of work in transactional, litigation and regulatory practices.
Dickinson Wright Rides Litigation, Corporate Work to 11.6% Revenue Growth in Record Year
A strong showing in litigation and a bump in corporate work, a rarity in 2022, saw the Detroit-based firm cross the $300 million mark in revenue for the first time.
Big Law Surprisingly ‘Strong’ so Far in 2023, but More Cuts Could Be on the Way
“Revenue growth was strongest among the largest firms, reverse of the results experienced in 2022 when the Am Law 51-100 outpaced the Am Law 1-50,” according to Wells Fargo analysts.
Withers Calls On Junior Partners to Stump Up as LLP Accounts Show Cash Fall
The firm’s recently-filed accounts show its overdraft balance is higher than its cash level.
Riding the Energy Sector Wave, Bracewell Improves Revenue, Profits
The London and Dubai offices each posted their highest revenue ever, the firm said.
Technology & Innovation:
Navigating the Risks and Opportunities of ChatGPT
The Implications of Data Breaches and Generative AI Platforms for the Legal Industry. The pros and cons that law firms should consider before incorporating generative AI.
AI and Cybersecurity: Possible New Risks and Legal Implications
In this article, we explore the intersection of AI and cybersecurity, including the main risks and best practices for organizations that develop or deploy AI tools, while also considering the future of AI regulation.
Access to International Legal Tech a Key Factor in Liberalization of India’s Legal Market
Indian attorneys are eying e-billing, practice management and matter management solutions from international vendors as they cope with the demands of the country’s population, and a newly opened legal market.
How to Stay on Top of Cybersecurity Disclosures as SEC Ramps Up Enforcement
It is critical companies take stock of their cyber hygiene policies and incident response protocols, and not only manage cybersecurity risks and prevent attacks, but also respond to them with proper disclosures.
Taking Different Paths: How US, EU Approach Generative AI Privacy, Security Concerns
From regulations to investigations and enforcement actions, generative AI-powered tools have received growing attention in recent months. During “The Age of AI: A Proskauer Webinar Series-Privacy and Data Security” webinar, panelists discussed some of the different approaches taken by the EU, U.S. and U.K. to regulate this technology.
New LLM Shield Tool Blocks ChatGPT from Accessing Sensitive Legal Information
The latest offering from serial tech entrepreneur Wayne Chang, LLM Shield aims to stop sensitive data leakage through tools like ChatGPT: “There’s no reason why, in order to use … AI and get the power that it brings, we have to give up our secrets, right?,” Chang says.
Diversity & Inclusion:
GCs Can Play a Key Role Helping ‘Neurodivergent’ Employees Thrive
“Neurodiversity is an asset to any workplace, due to the unique styles of thinking and problem-solving,” said Ashlee Grant, a Baker & Hostetler partner.
Women Lawyers Want Better Work-Life Balance, Proper Support From Firms
A survey of nearly 200 women lawyers, mostly associates, cites “thoroughly depressing” reasons for why they leave their Am Law 200 firm, such as a lack of support in providing maternity leave or childcare and the stress of meeting billable-hour targets.
Disability Claims May Trip Up Bosses With Hard-Line Back-to-Office Policies
“The pandemic was, and to a certain extent still is, a lengthy mind- and body-altering experience that workers made serious adaptations to deal with. Any expectation of a quick and easy return to the ‘old normal’ ignores that reality,” said C. Tyson Gorman, a Wyatt, Tarrant & Combs partner.
Market Commentary:
Will Artificial Intelligence Finally Kill the Billable Hour?
There are two very different compensation structures in the legal industry, and as innovations in artificial intelligence (AI) prove their productivity-enhancing capabilities it’s important to acknowledge that only one is incentivized to embrace it.
A&O and Linklaters Ended the Pay War—But At What Cost?
The two firms finally decided to match rivals on salaries last week but have they lost out after a year of being behind?
Moves:
UK & Ireland
White & Case Hires Kirkland London Antitrust Partner
Michael Engel was partner for just over two years at Kirkland. Prior to that, he was part of Sullivan & Cromwell’s European competition team for over a decade, and also spent a two-year stint at the legal arm of Goldman Sachs’ investment banking division, according to his LinkedIn profile.
Greenberg Traurig Boosts Finance with Paul Hastings Partner
Greenberg Traurig has added to its London finance practice with the hire of partner Sierra M. Taylor.
EMEA
Clyde & Co Hires Morgan Lewis Dubai Partner
Rebecca Kelly rejoins the firm after a nine-year stretch at Morgan Lewis & Bockius, where she was Dubai office managing partner and head of litigation, leading its Middle East regulatory and disputes team.
Cuatrecasas Adds Partner-Led Dentons Trio in Barcelona
Leading the move, Diego Pol was a partner at Dentons for more than four years, where he led the Spanish Compliance team within the firm’s corporate and M&A practice and co-chaired the European compliance group. Prior to his time at Dentons, Pol worked as a senior associate at Baker & McKenzie.
DWF Splits with Global Infrastructure Co-Head in Dubai, But Adds 2 Other Partners
DWF has parted ways with its Dubai-based global co-head of infrastructure, construction and energy—who leaves for HFW—but adds two other Dubai-based partners.
APAC
Simmons & Simmons Hires Latham Energy Partner David Blumental in Hong Kong
The appointment bolsters Simmons’ cross-border capability and will help it further develop its energy, natural resources and infrastructure practice in the Asia Pacific and Greater China, the firm said.
Squire Patton Boggs Adds K&L Gates Energy Partner In Singapore
Lian Yok Tan, who is qualified in four different jurisdictions, including the U.K. and Singapore, has 30 years of experience.
Han Kun Hires Two From Sidley in Beijing
Beijing-based Han Kun Law Offices has added two new partners, Lan Tao and Gloria Wang, from Sidley Austin’s Beijing office.
Two Years After Ending China Alliance, McDermott Appoints New China Head, Hires Baker McKenzie Team
Peter Lu has joined the firm in London from Baker McKenzie, where he has spent over four years. Lu joins McDermott with a team of lawyers including Tina Hartwright, who has been promoted to counsel at McDermott, Ennio Keyte and Alonso de Reyes Lanfranco, all of whom are corporate lawyers.
Clyde & Co Nabs Australian Finance Partner and Seven-Lawyer Team
Global law firm Clyde & Co has hired a partner-led team from a local firm to join its financial services regulatory team. Liam Hennessy joins the firm in Brisbane along with seven lawyers from local firm Gadens.
Australian Firm Takes Insolvency Partner From Norton Rose Fulbright
Sydney-based Jonathon Turner joins the firm’s restructuring and insolvency team with a focus on growing contentious matters, complex litigation and restructuring.
The Americas
McCarter Adds to Miami Office With Hinshaw & Culbertson Partner
Ira Gonzalez is joining Newark-based McCarter after over three years at Hinshaw. While he helps build out the Miami office, he’ll be a partner in the firm’s products liability, mass torts and consumer class actions practice.
Winston & Strawn Builds Crypto, International Strength with Greenberg Traurig Tech Partner
Will Turner spent most of his career in Chicago until the pandemic hit and he relocated to Florida.
‘An Obvious Choice’: Reid Rejoins Eversheds Sutherland as Partner
“I wanted to get back to being more of a subject matter specialist in the privacy, cybersecurity and technology areas,” Rachel Reid said of her move from in-house work back to law firm work.
Hogan Lovells Nabs Top Jones Day Environmental Partner in Mexico
Mauricio Llamas is bringing three associates with him to Hogan Lovells, where he will head the firm’s environmental law practice in Latin America’s second-biggest economy.
Paul Hastings Lands Veteran Kirkland Funds Partner, With Others Expected to Join Him
Paul Hastings has hired John Budetti, a 17-year veteran of Kirkland & Ellis’ investment funds group, as the new global chair of its investment funds and private capital practice, the firm said, with five current and former Kirkland attorneys expected to join him.
SEC Private Funds Attorney Joins Morgan Lewis Amid Big Law Demand for Regulatory Lawyers
Christine Schleppegrell is one of several former SEC veterans who have joined Morgan Lewis since the start of 2022.
Shearman Loses Energy Co-Head To Mayer Brown in Houston
Gabriel Salinas’ exit comes shortly after Omar Samji, another leader of Shearman & Sterling’s energy innovation team, moved to Weil, Gotshal & Manges in Houston.
Holland & Knight Snags 17 Lawyers From Mexico’s Sánchez DeVanny
The raid brings seven partners, including some former practice and office heads, plus two senior counsel and eight associates as the U.S.-based firm wagers big on near-shoring for manufacturing.
McDermott Will & Emery has brought on Holland & Knight real estate and private wealth partner Elena Otero in Miami, as the firm continues building up practices that remain flexible with economic conditions.
Covington Names New SF Leader as Regulatory Work Ramps Up
Covington’s regulatory and investigations roots are giving it a boost in the Northern California legal market, according to San Francisco office managing partner Gretchen Hoff Varner.
The Wall Street firm is at least the third Am Law 25 law firm to hire a financial regulatory partner in D.C. in the last week, with the addition of Dalia Blass as a partner.
A&O New York Team Defects to Paul Hastings
The structured finance team, including several associates, is joining rapidly growing Paul Hastings. The team is led by A&O partner Nick Robinson, who leaves the firm after four years as a partner in A&O’s structured finance practice.
Barley Snyder Adds Immigration Attorney, Andrew J. Mahon to its Growing Roster
Mahon brings over a decade of experience in the areas of immigration and employment law. In his immigration practice, he represents families and businesses seeking immigration benefits in addition to defending individuals placed in removal proceedings.
Milbank Lands 27-Year Paul Weiss Finance and Restructuring Vet
Lawrence Wee’s practice, which focuses on out-of-court restructuring, sits at the strategic center of several key practice areas, according to Milbank leaders.
Kleinbard Brings on New Executive Director, Four New Attorneys
The additions qualify as “pretty dramatic growth” for the 35-lawyer firm, according to managing partner Michael Frattone.
In-House
Sabre Replaces Freshly Hired CLO It Had Wooed With Millions
The travel company appointed Ann Bruder as chief legal officer, succeeding Chadwick Ho, a former Disney attorney who’d started in September.
Swiss Luxury Goods Giant Names Kraft Heinz Veteran as Top Lawyer
Thomas Loest’s climb up the legal department ladder included stops at Georgia-Pacific, Nike and Kimberly-Clark.
Twilio Welcomed Impossible Foods’ Legal Chief With $13M New-Hire Stock Grant
Dana Wagner, chief legal officer of San Francisco-based Twilio, also received a massive stock grant as part of his normal 2022 compensation. The two awards left his pay just shy of that of Apple GC Kate Adams.
Deutsche Bank Hires From Pharma Giant For Next General Counsel
Deutsche Bank has hired its next general counsel, appointing Friederike Rotsch to the role.
Freshly Public Travel-Tech Company Hires Apple Lawyer as First GC
Meredith Waters is taking the legal reins of Mondee, which aims to capitalize as the travel industry becomes increasingly technology-driven.
Lyft Lays Off Chunk of Legal Team, Names Former GC as President
Kristin Sverchek, who’s been with Lyft since 2012 and was general counsel until 2021, will help the company’s new CEO execute his strategy of slashing costs to make the service more affordable for riders and profitable for drivers.
DoorDash Attorney’s Promotion to GC Earned Her $15M Stock Grant
Tia Sherringham took the legal reins in January 2022 after the food-delivery company promoted her boss to chief business officer.
Promotions & Appointments:
DLA Piper Elevates 72 Lawyers to Global Partnership
Allen & Overy announced it had promoted 36 lawyers. Last week, Freshfields Bruckhaus Deringer promoted 30 to partner, while last month Linklaters elevated 41.
Clifford Chance Promotes 32 in Latest Partner Promotions Round
Twelve of the 32 promotions are women, giving an overall tally of 38%, a slight decrease on last year’s 41%.
Simmons & Simmons announces partner promotions for 2023
International law firm Simmons & Simmons today announces its cohort of partner promotions for 2023. This year’s round comprises 13 lawyers from five countries across the UK, Europe and Asia. The promotions will take effect on 1 May 2023.
Mergers & Alliances:
Carmody Inks Deal With DDN in Guilford for Boost in Litigation Talent
Managing Partner Rick Street said representatives from both firms had been talking about a merger for the past two years, and following a COVID lull, the discussions heated up again late last year.
Embattled UK Firm Ince Group’s Administrators Find Buyer
The listed law firm went into administration earlier this month. The Ince Group has announced that its administrators have sold the firm to another U.K. law firm—Axiom DWFM.
Fox Rothschild Adds ‘Niche’ Charlotte-Based Boutique via Merger
Dempsey Law, with two attorneys as well as support staff, focused on family law, particularly domestic and international adoption efforts as well as work involving assisted reproductive technology and surrogacy.
DAC Beachcroft in Talks with Private Equity Investor Over Partial Sale
A deal would represent the first major private equity investment in a large commercial UK law firm.
Office Openings & Closing:
Disputes Firm Three Crowns to Open in Madrid
Last year, the firm entered the Singaporean market, making the upcoming Madrid office its fifth globally.
China’s DeHeng Breaks Into South Korea With Seoul Office Launch
DeHeng’s Seoul office, its ninth international outfit, will be headed by Korean-speaking partner Cuiying Zhu, who specializes in cross-border investment and finance, as well as dispute resolution.
Spain’s ECIJA Opens Office in Uruguay
Cecilia Amieva, an ECIJA partner who previously worked out of the firm’s Buenos Aires office, will be the managing partner in Montevideo.
Shin & Kim Expands in Southeast Asia with an Office Launch In Singapore
Shin & Kim’s new Singapore outfit marks the Big Six South Korean law firm’s fifth overseas office.
Seeing ‘Explosive’ Growth in Class Actions, Bryan Cave Leighton Paisner Opens in Seattle
King County, Washington has been a magnet for a wave of claims. “We’re seeing a lot of attorneys from outside the jurisdiction testing new legal theories,” said one of the new partners at BCLP.
Nelson Mullins Plants Flag in Chicago Via Another Group Pickup
The firm is adding seven partners from Benesch, with four in the Windy City and three bolstering its existing Cleveland presence.
McNees Hires Group of Real Estate Attorneys, Opens Second Maryland Office
The arrival of seven real estate and construction attorneys from Towson-based boutique Sagal Filbert Quasney & Betten is neither an acquisition or a merger, according to McNees. One attorney from the Sagal firm is not making the move.
Financials:
Shearman’s Financial Issues Mount, Sources Say, But New Leader Sees Path Forward
Senior partner Adam Hakki noted that while 2023 will be a transition year, many of the firm’s practices are thriving and partners are being paid “consistent with our long-standing profit distribution practices.”
Alphabet Legal Chief’s Pay Surged 66% in 2022
Kent Walker earned nearly $10 million more than he did in 2021, but it was only half of what he made in 2020.
Netflix CLO Saw Pay Surge in 2022, Despite Growth Challenges
David Hyman and the company’s other top executives saw compensation rise in 2022, even as Netflix shares tumbled.
‘Take Advantage of the Leverage’: How Legal Departments Can Rein in Rate Hikes
“The data we have shows that some of the largest purchasers of legal services in the world are paying way over average,” said Nathan Cemenska of Wolters Kluwer ELM Solutions.
ABA Employment Outcomes Show Modest—but Slower—Growth
The actual number of full-time, long-term Bar Passage Required or J.D. Advantage jobs increased by 888 (+3%) year-over-year as compared to last year, when the ABA reported an 11.2% year-over-year increase.
Keystone Posts 8% Growth Despite Shadow Over Listed Firm Model
CEO James Knight has distanced his firm from the recent fallout around the collapse of fellow-listed firm the Ince Group.
Technology & Innovation:
The Growing Role of Legal Tech in M&As and Fundraising
Legal’s role in shaping and maintaining an organized and thorough process enables the organization to successfully and efficiently manage the due diligence process and tees up the strongest negotiating position possible.
Companies Flummoxed by Regulatory Chaos Around Cybersecurity
“There’s a lot of unpredictability right now. There’s a lot of head-scratching about what’s going to come next—what sectors are going to get hit with the next emergency directive, for example,” said Megan Leef Brown, a partner with Wiley Rein.
Tokyo-Based Contract Review Startup Launches in US, Unveils GPT-4 Powered Contract Editing Tool
LegalOn Technologies took advantage of its U.S. release to announce new capabilities around its collaboration, search and editing features.
Navigating the Future of In House Practice: Embracing Technology and Process Advancements
Recent research shows that while many legal departments are utilizing established legal technologies like e-billing and matter management systems for useful purposes, there are opportunities to enhance technology value even more. Especially in areas like process automation and advanced reporting.
Legal Sector Must Learn to ‘Fail Quickly’ on Technology, Partners Say
‘As a sector, we’re bad at failure because it’s opposed to what we’re trained to do for clients,’ said one London conference panelist.
Artificially Intelligent, Legally Confusing: The Rights in AI-Generated Works
If neither the AI system nor its operator hold rights over the material, are these works simply public domain? Not necessarily.
As AI Advances, Is Prompt Engineering the Next Crucial Legal Skill?
Generative AI has taken the legal world by storm, and that means legal professionals are going to have to learn to communicate with machines. One key skill for doing so has emerged: prompt engineering.
‘Innovation Discipline’: How Firms Navigate Growing Generative AI-Legal Tech Options
Firms have been paying close attention to how legal tech vendors are incorporating generative AI into their tools. While few are opposed to such updates, these implementations come with a new set of questions.
Legal Insurer’s ChatGPT Warning Is Impacting Law Firms’ Generative AI Projects—But Not All
A blanket warning over not using ChatGPT altogether, as issued by one insurance provider, might not necessarily fit with client demands or law firms’ own view of the technology.
How GCs Can Leverage AI to Negotiate Contracts
“AI won’t replace contract professionals. Contract professionals who use AI will replace those who don’t,” said Otto Hanson, CEO of TermScout.
Key Legal and Operational Risks for Enterprise AI
The ability of machines to learn and improve without explicit instructions has the potential to revolutionize many industries, but businesses that use AI must be aware of the legal and operational risks that come with it.
Regulatory Technology, Vendor: Wolters Kluwer Legal & Regulatory U.S.
“Legal innovation should capitalize on highly enriched, modeled data sets by producing advanced functionality and workflow solutions that anticipate what a client needs to stay out of litigation,” says Nicole Stone; Director, New Product Development Content Strategy at Wolters Kluwer Legal & Regulatory U.S.
Diversity & Inclusion:
New Task Force Aims to Increase Latinx Representation in Legal Profession
“A lot of positions of high responsibility in government are fed by law school professors and deans, who are appointed to these roles, but there are not many, if any, Latinos and Latinas to pick from,” Seattle University Law Dean Anthony Varona said. “This is a very big problem not just for law but for democracy itself.”
Allen & Overy Expands IP Litigation for Clients in the US With Female-Led Team
“We think we are the only firm that can offer top-tier IP litigation capabilities in every major country in the world,” said A&O’s U.S. head of IP, Elizabeth Holland, who is one of several female partners leading the firm’s growth for tech and life sciences clients.
Market Commentary:
Watson Farley and Bird & Bird Continue Industry Trend of Increased Partner Promotions
Watson Farley’s promotions follow the recent announcements of offices in Seoul and Tokyo.
How to Define Environmental, Social and Governance Is ‘the Million-Dollar Question’
“Now is the time for companies to closely review their existing disclosures on file and make sure the activities they have chosen to disclose are commensurate with the disclosure,” says Skadden partner Anita Bandy.
Is a Merger in Baker Botts’ Future?
Having talked in the past to DLA Piper and Shearman & Sterling, Baker Botts may view a combination as a way to strengthen its market position.
More Companies Opt for Fractional GCs Over Full-Time Legal Chiefs
“Law firms really want the big stuff—the deals and litigation. What a lot of corporations struggle with is not those things,” said Noel Elfant, founder of General Counsel Practice.
Young Lawyers Are Willing to Sacrifice Their Comp for These Benefits
Many young lawyers said they would exchange some of their pay for lower billable hours, a recent survey found. Now more law firms are creating additional paths to partnership with lower hours requirements.
Longtime Paul Hastings CFO Departs Following Wave of Exits
Kathleen Deuschle had been at the firm since 2009. She’s the fifth member of the firm’s C-suite to depart since February 2022.
Will U.S. Firms Start to Open Locations in India?
For all the talk of pre-liberalization of the market there, firms are cautious now.
Some GCs Fear Remote Work Could Render In-House Teams ‘Obsolete’
In-house leaders tell Law.com International that remote working could see them lose their place at the leadership table that they fought so hard for in the first place.
Where Are All the Financial Regs Lawyers? Big Law Has a Need for More
Demand currently outweighs supply for a small pool of financial regulation lawyers, as banks need to make sense of an environment that’s evolving rapidly following the demise of Silicon Valley Bank and Signature Bank.
Xerox Legal Chief Pulls Plug After Five Years in Role
The office equipment giant says Louie Pastor is stepping down to pursue other opportunities. It’s not clear where he’s headed.
India’s Hands-Off AI Approach Could Spur More Litigation, and Innovation
India is not a necessarily litigious society—but with an open legal market and the decision to keep AI unregulated, that could soon change.
Estee Lauder Vice Chair and Former General Counsel to Retire
Sara Moss has been with the cosmetics giant for two decades, most of that time as legal chief. She was promoted to vice chair in 2019.
Pandemic Woes: Professionals Struggling as Lines Between Home and Office Become Blurred
By investing in the space where you spend most of your time, you are investing in yourself as a productive business person who also values intimacy and recognizes the importance of true balance across all aspects of life.
Since the UK voted to leave the EU in 2016, many international law firms have been seeking new outposts in order to maintain their access to the EU market. Among the most popular destinations for firms looking to retain that access is Dublin, Ireland. Post-Brexit restrictions have made it more difficult for UK-based lawyers to practice EU law from outside the EU, so Dublin’s status as not only a significant financial centre and a thriving domestic market, but also as an EU ticket- holder, has made it a very attractive destination for firms. Alongside a wider look at the Dublin landscape for law firms, this article will take a deeper look at the Investment Funds industry and how it has proved to be a new market entrant area of choice, and why it has been a hive of activity since the Brexit decision was made.
Why Ireland?
First, let us take a look at the primary reason for the rising popularity of Ireland as a jurisdiction of choice: Brexit. Law Gazette reported that in the six months leading up to the Brexit vote on 23rd June 2016, 186 solicitors from the UK had been admitted to practice in Ireland. This number amounted to more than three times the total at the same stage in 2015. A year later, 1,448 England and Wales solicitors have been admitted; a number that had swelled so significantly it prompted Ken Murphy, director general of the Law Society of Ireland at the time, to reference the “tsunami” of registrations they were receiving as “Brexit refugee solicitors”. Christina Blacklaws, former president of the Law Society of England and Wales explained the incoming registrations as a move on the part of law firms to do everything they can to “ensure they continue to meet their clients’ needs seamlessly when we leave the EU”.
Three years later, the Law Society of Ireland announced that dual-qualified lawyers must be physically based in or practising in Ireland to keep their practising certificates. This put a major spanner in the works for law firms who were hoping to continue advising clients on EU law with the benefit of legal professional privilege: they now had to open an office to enjoy the benefits of Irish qualification.
Shrewdly, various leading international law firms had already made the move to Ireland. Firms such as Pinsent Masons, Simmons & Simmons, Covington & Burling, Clyde & Co., DLA Piper and Fieldfisher had proactively moved to reap the benefits of the EU connection, as well as to build on their own international platforms. Only recently in 2022, Browne Jacobson chose Dublin as the destination for its first overseas office, highlighting its continued desirability. Back in 2017, however, Pinsent Masons and Simmons & Simmons both decided to launch with investment funds as a core aspect of their new offerings. Despite the Irish market being highly saturated with well-established domestic firms such as Arthur Cox, Dillon Eustace, Maples Group, Matheson and McCann FitzGerald, who already have bases in Dublin, the funds area was seen to have growing potential. This can be attributed to Ireland’s status as a leading hub for the investment funds industry across Europe, where the AUM (Assets Under Managements) figures continue to grow year on year. It remains one of the most popular locations for establishing fund structures in Europe, with over €6.6 trillion in assets under management reported by PwC at the turn of 2022.
Why Investment Funds?
This leads us onto the more technical aspects of why Dublin is a great place to do business; Ireland has become a pre-eminent global location for establishing and administering investment funds particularly due to its favourable regulatory environment, pro-business environment, and tax benefits. As an EU member state, funds established in Ireland as an Undertakings for Collective Investment in Transferrable Securities (UCITS) or an Alternative Investment Fund (AIF) benefit from an EU-wide passporting regime, and the country has an excellent reputation for robust and efficient regulation, with a proven track record in adapting to industry developments. Additionally, Ireland is an internationally recognised, open, and tax-efficient jurisdiction with a 12.5% corporate tax rate – which is significantly lower than the 25% figure the UK has (it rose from 19% on April 1st 2023) – and a favourable tax regime for funds or investors. While it is difficult to directly compare the UK and Ireland in this regard as the tax rules are complex, vary depending on a range of factors, and ultimately go beyond the scope of this article, we can be certain that Ireland has actively pushed to make itself a strong domicile of choice for investors. The CIB (Central Bank of Ireland) has developed a comprehensive legal and regulatory framework that is purposefully attractive to fund managers and investors alike. In recent years, Ireland has been decidedly proactive in introducing new legislation and regulatory initiatives designed to support the growth of the investment funds industry. For example, the Irish Collective Asset-management Vehicle (ICAV) was introduced in 2015 to provide a more flexible and tax-efficient structure for investment funds, while the country’s Investment Limited Partnership (ILP) regime was recently updated to make it more attractive to investors. So ultimately, while the market may have been handed a Brexit boost, it was more than ready to accommodate an influx of business; it’s popularity as a fund domicile of choice has been earned, with Irish luck playing only a very small role.
Jostling for space
Dublin is fast becoming ‘London by the Liffey’, writes Irish Times reporter Mary Carolan. And frankly, it is hard to argue with that title given that UK or international firms now make up seven of the top 20 firms in Ireland, with half of the top 30 UK law firms having now opened offices in Dublin. Of the more recent office openings chronologically, Linklaters, Ashurst, Hogan Lovells, Taylor Wessing, Addleshaw Goddard and Bird & Bird have opened offices in Ireland, with Squire Patton Boggs due to touch down shortly in May 2023. Notably, Addleshaw Goddard entered the market via a merger with local firm Eugene F. Collins, completing what is believed to be the largest ever merger between a UK-based legal business and an independent Irish practice. Carolan reports that this has had a directly adverse effect on regional firms who, according to a recent survey, have experienced a slowdown in growth. Of the 108 law firm respondents surveyed between September and October 2022, almost all respondents – and especially the larger firms located in Dublin – have pointed to recruitment and retention of staff as a major concern. One of the difficulties they face is retaining newly qualified solicitors who are attracted by the “eye-watering” six-figure salaries offered by firms based in London, alongside better prospects and access to working in an international law firm environment. About 50 partners in Irish firms joined UK and other international firms in the past five years, including the foremost market entrants Simmons and Simmons and Pinsent Masons, who led the way by poaching Fionan Breathnach, Head of Investment Funds, and funds partner Gayle Bowen from Mason Hayes Curran and Walkers, respectively.
It is worth noting that amidst the concerns of losing staff to international firms due to higher salaries, William Fry, an Irish law firm with offices in London, New York, and San Francisco, has successfully lured back one of its own consultants, Niall Campbell, from Pinsent Masons to work on business-critical matters in its flagship office. This shows that the brain drain from domestic firms to international ones may not be as one-way as it seems, and suggests that Irish firms still have competitive advantages to offer. At the same time, it shows how important a resource these international platforms are to Irish-based lawyers. There is no better place to hone your skills as a legal professional than in the biggest rooms at the biggest tables. Firms like Pinsent Masons, Simmons & Simmons, Eversheds Sutherland and the multitude of other international firms who now have a base in Dublin provide local lawyers with the perfect opportunity to elevate their own practices, advancing their own careers but hiring the standard across the board.
Talented Ireland
As a result of the influx of eager law firms into a fertile Irish market, the competitive ‘war for talent’ we have seen in the UK over the recent years has affected Ireland in an even more concentrated way. With the increased competition, law firms are continuing to use lateral hires as part of their growth strategies. The survey conducted by the Irish Times found that just over 70% of the firms surveyed have made more than five lateral hires in the past 12 months. It is worth noting that there has been significant growth in in-house legal and compliance teams as they seek to re-domicile in Ireland. We have also seen Irish expats returning home for better prospects.
As a direct result of the vast swelling of NQ salaries driven by this higher competition and thus higher demand for lawyers, a number of international firms with offices in Dublin are set to launch, or expand, the number of training contracts available. This is a move The Lawyer has referred to as “Phase Two of the international invasion. First, they came for your partners and associates…Now, they’re coming for the most promising graduate talent.”
In doing so, the firms are strategically going straight to source with the aim of pushing their organic growth and stepping away from the current melee that is talent acquisition. Both Bird & Bird and Taylor Wessing have affirmed their intentions to introduce training contracts into their Dublin offices. The firms that are already providing training contracts, such as Fieldfisher & Addleshaw Goddard, have opted to boost the number of contracts they offer each year. Fieldfisher Dublin’s managing partner, JP McDowell, stated that “recruiting and training new talent is an essential component of our strategy to facilitate our ambitious growth plans in Ireland.” Among international law firms in Dublin, DLA Piper is rumoured to offer the highest number of training contracts, with a maximum of 12 openings per year. It will be incredibly interesting to see how this unfolds as the year plays out.
It is clear that Ireland’s popularity with law firms in the post-Brexit era has remained strong. The ongoing push to open an office in Dublin, the appeal as a fund domicile of choice, and the second wave recruitment drive from firms looking to expand their training contract offerings are clear examples of this. The legal market in Ireland will certainly continue to grow and transform as international firms keep up the push to move in and fight for their market share of work. Going forward, it will be interesting to see how local firms respond to the external pressure, which will only increase from here on out.
Fides Search has supported a number of firms with their growth in Dublin. Please contact George Eves and Mathew Parker for more information.
Moves:
UK & Ireland
Eversheds Adds HSF Energy Finance Veteran to London Ranks
Eversheds Sutherland has added Herbert Smith Freehills’ former infrastructure M&A finance lead David Wyles to its London office, further strengthening its growing energy & infrastructure offering.
Deloitte Legal Seals Eighth UK Partner Hire Within Last Year
Andy Casey, who was global head of corporate secretarial services at U.K. firm Eversheds Sutherland and its related arm Konexo until 2021, has joined Deloitte Legal as a partner in its legal entity management team.
O’Melveny Makes Rare London Hire with Gibson Dunn Partner
U.S. firm O’Melveny & Myers has made a rare London hire, adding finance and restructuring lawyer from Gibson Dunn & Crutcher to its offering. Greg Campbell, who has over 25 years of experience in the legal industry, had been part of the global finance and business restructuring practices at Gibson Dunn since 2008.
EMEA
Latham Hires Hogan Lovells Energy and Infrastructure M&A Partner in Frankfurt
Latham & Watkins hired a Hogan Lovells partner to join its mergers and acquisitions and private equity practice in Frankfurt. Alexander “Stefan” Rieger spent more than two decades at Hogan Lovells, according to his LinkedIn profile, advising on infrastructure funds, pension funds, private equity investors and project developers on cross-border M&A and joint ventures.
In Paris, Orrick has recruited a new head of restructuring from Eversheds Sutherland, who arrives with a team of three, and in Germany, the firm has brought on an energy and infrastructure partner, also from Eversheds; Pinsent Masons boosts its international arbitration team with four lawyers, including a partner, from a Paris boutique.
Clyde & Co Hires Simmons Middle East Insurance Head in Dubai
Based in Dubai, Olivia Darlington joins the firm’s global insurance practice having gained expertise in contentious insurance matters. She advises on the defence of high-value claims against professional services firms, financial institutions and directors and officers, and on complex coverage matters.
McDermott Adds to Litigation Team in Milan With Partner Hire From Willkie
Fabio Cozzi joins McDermott as a partner and head of the firm’s Milan litigation practice. He was a partner at Delfino Willkie Farr & Gallagher for three years, according to his LinkedIn profile. He previously practised at Paul Hastings in Milan and Washington, D.C., for seven years, rising to senior associate, according to LinkedIn.
APAC
K&L Gates Adds 2 Partners from King & Wood and Bird & Bird Australia
K&L Gates has strengthened its tax and project finance benches in Australia with the hire of King & Wood Mallesons special counsel Stuart Broadfoot and Bird & Bird partner James Durnall in Sydney.
Watson Farley Adds Disputes Partner in Sydney
Watson Farley & Williams has hired a partner for its disputes practice in Australia. Nathan Eastwood joins the firm from Clifford Chance in Sydney, where he was a counsel.
Sheppard Mullin Hires Doosan Corp’s GC as Co-Managing Partner for Seoul
Johneth Park, the general counsel of Seoul-based Doosan Corp and chief legal officer of its Connecticut-based affiliate HyAxiom Inc, has rejoined Sheppard Mullin Richter & Hampton in Seoul.
Reed Smith Continues to Grow in Asia, Adding Regulatory Partner in Hong Kong
Reed Smith has been on a hiring drive across Asia over the past few months, adding a lawyer in Beijing and several in Singapore. Jill Wong, who was a partner at Hong Kong law firm Howse Williams, specializes in banking and securities regulatory and compliance matters.
The Americas
Wachtell Lawyer Moves to Simpson Thacher Amid Talent Demand in Financial Reg Practices
Simpson Thacher & Bartlett has brought on Amanda Allexon from Wachtell, Lipton, Rosen & Katz, as a partner in its financial institutions practices in Washington, D.C., becoming one of the latest firms to add to its financial institution’s team.
Global law firm K&L Gates recently welcomed Scott Graham
Global law firm K&L Gates recently welcomed Scott Graham as an asset and corporate finance partner in the Pittsburgh office.
Milbank Lures 10-Lawyer Group from King & Spalding, Including Structured Finance Practice Head
Milbank is adding a 10-lawyer group from King & Spalding, including structured finance head Michael Urschel, partners Martin Eid and Kathryn Weiss and at least seven other attorneys, the firm said Tuesday. The group will be based out of Milbank’s New York office.
Amid Midwest Talent Demand in Big Law, Norton Rose Adds Deal Teams From BCLP
Norton Rose has now doubled its lawyer headcount in the Midwest, the firm noted, after a lateral group arrival from BCLP.
Shearman’s Energy Innovation Head Exits for Weil
Omar Samji said his move to Weil was facilitated by what’s going on in the energy industry and wanting to be part of a “growing team” to take advantage of practice opportunities.
Moses Singer Adds Litigator Paul Eckles
Moses & Singer LLP is pleased to announce the arrival of Paul Eckles as a partner in its Litigation Practice Group. Eckles joins the firm from K&L Gates, where he was a commercial disputes partner.
And other announcements of recent hirings and promotions of New York attorneys.
Simpson Thacher Hires Munger Tolles Litigator in Northern California
Laura Lin has joined Simpson Thacher in Palo Alto after over 11 years at her previous firm.
Robinson & Cole Adds Three Partners in NYC
Manhattan expansion follows the opening of an office in Washington, D.C., and naming Anna Jinhua Wang as partner in charge in New York.
John Chibbaro’s speciality is in high demand as developers look to repurpose land in Florida while environmental regulators step up their oversight.
Cadwalader Takes K&S Finance Partner, Says More Lawyers Are Following Him
A day after Milbank took a 10-lawyer finance team from King & Spalding, more lawyers from the same practice are leaving, as partner Ryan McNaughton and others head to Cadwalader.
In-House
Apparel Startup Valued at $4B Hires Away Legal Chief of Vans
Libby Stockstill has become the first general counsel of Vuori, a maker of Southern California-inspired apparel that launched in 2015 and turned profitable two years later.
As Crocs Sales Soar, GC Announces Retirement
Daniel Hart, the longtime chief legal and risk officer for casual footwear brand Crocs, will be retiring in April 2024, the company disclosed Monday in a securities filing.
Energy Company Blazes New Trail by Combining CLO, CFO Roles
Genesis Energy gave chief legal officer Kristen Jesulaitis the additional role of chief financial officer, an unusual expansion of duties for a corporate legal chief. In-house consultant Susan Hackett says the pairing is rare partly because CEOs typically look to a company’s legal and finance chiefs to counterbalance one another by offering differing viewpoints.
Crypto Firm Hands Legal Reins to Ex-Morgan Stanley and Barclays Investment Lawyer
Sam Brown joined Copper in June 2022 as head of product legal and has been acting general counsel since February.
Amid Exec Churn, Sanctuary Wealth Appoints Nebraska Lawyer Chief Legal Officer
“I’m thrilled to join the leadership team of Sanctuary Wealth,” said Kevin Miller. “Legal, regulatory and compliance functions can, and should, play a crucial role in both protecting the businesses of wealth managers and reinforcing their success.”
DocuSign Greeted New Legal Chief With a $13 Million Stock Award
James Shaughnessy joined the electronic signature company from Workday in May 2022.
Promotions & Appointments:
Partner Promotions Continue Apace with Record CMS Cohort
A number of other law firms have announced their own promotions in recent days, including Macfarlanes and Addleshaw Goddard.
Addleshaw Goddard Matches Firm Record for Partner Promotions
Nearly half of the 20 promotions are in the UK firm’s London office.
Ashurst Latest Firm to Announce Partner Promotions With Another Record Year
The high numbers are in keeping with a set of bumper promotions rounds at law firms with large UK operations
HSF and Dentons Boost Partnerships in Latest Promotion Rounds
HSF has promoted 32 to it’s global partnership, while Dentons has made a record number of promotions in the UKIME region.
Clyde & Co and Stephenson Harwood Announce Increased Promotion Rounds
Clydes’ 26 promotions represent the largest cohort promoted within one year in the firm’s history—although this figure includes four promotions made in the summer of 2022, following the firm’s merger with BLM.
Spain’s Cuatrecasas Promotes Batch of Partners
The latest partners were approved in Lisbon this week on the heels of the firm announcing a record-high revenue.
Mergers & Alliances:
Haynes and Boone Picks Up Investment Management Team in London and Belfast
A group from MJ Hudson, which was a provider for the asset management industry before its collapse, has joined Haynes and Boone, boosting the firm’s private equity, venture capital and investment management expertise.
Amid Big Law Talent Demand, Norton Rose Adds Deal Teams From BCLP, Including Atlanta Partners
Norton Rose has now doubled its lawyer head count in the Midwest, the firm noted, after a lateral group arrival from BCLP.
McDermott Appoints China Head, Hires Team from Baker McKenzie London
Two years after ending its 13-year China alliance, McDermott Will & Emery has appointed a new global head of China practice, based in London. Peter Lu has joined the firm in London from Baker McKenzie, where he has spent over four years. Lu joins McDermott with a team of lawyers including Tina Hartwright, who has been promoted to counsel at McDermott, Ennio Keyte and Alonso de Reyes Lanfranco, all of whom are corporate lawyers.
Office Openings & Closing:
Watson Farley Opens in Japan With Lateral Hires From White & Case
The opening of the Tokyo office comes less than two months after the UK firm launched an office in South Korea.
Covington Goes to Boston, as More Big Pharma Clients Relocate to City
The new office will be anchored by Megan Gates, who was chair of Mintz’s corporate and securities practice.
Portugal’s Morais Leitão to Launch Office in Singapore
The Portuguese law firm’s Singapore office will offer a Lusophone practice to advise on both inbound and outbound business interests between Portugal, the Asia-Pacific region, and the Luso-African countries of Angola, Mozambique and Cape Verde in which Morais Leitão has offices.
Shin & Kim Expands in Southeast Asia with an Office Launch In Singapore
Shin & Kim’s new Singapore outfit marks the Big Six South Korean law firm’s fifth overseas office.
Financials:
Reed Smith Falls Short of 2021 Revenue by 1.3%, Net Income by 4.5%
“Given the headwinds the industry faced in 2022, I think it was a strong performance because of the downturns on the corporate side of the house,” said newly elevated global managing partner Casey Ryan.
Some Lost, Much Gained: Thoughts on 2022 and What’s to Come
A step back in financials is a chance to look around a new corner.
The Long View: A 10-Year Look at Key Financial Metrics
A multiyear look into the evolution of law firm financials highlights some interesting trends in their approach to growth.
Revenue Dips Slightly at Clark Hill, but Profits Drop 13.4% in an ‘Investment Year’
While revenue, profits and profits per equity partner declined in 2022, the comparison with 2021—when demand at the firm hit record levels and a contingency win boosted results—is misleading, according to CEO John Hensien.
Can Rates Make Up for Expense Growth Much Longer?
Large law firms became more expensive to operate and less profitable in 2022, despite growing in terms of revenue and head count. While equity partners took home less money, associate and nonequity partner compensation continued to rise. Rate increases managed to keep gross revenue in the black as demand slid by nearly 2%. Still, the profit margin for The Am Law 100 fell 2 percentage points to 42%, wiping out the profitability gains of 2021 and putting firms below the average 2020 profit margin of 43%.
Busy Litigation Made Up for Down Year in Fox Rothschild’s Corporate Practices
Fox Rothschild improved upon its 2021-22 revenue by 4.3% to reach $676 million in its latest financial year, although the firm fell short of the previous year’s profitability because of mounting personnel and travel expenses.
With the Economy on Edge, Lawyers to the Rescue
It’s no newsflash to report that we’re in the midst of a significant economic downturn. That being said, here’s an important message for businesses across industries and their general counsel: when the economy is in turmoil, lawyers and law firms can be a godsend, especially when companies optimize their legal spend to extract a maximum return on investment.
Technology & Innovation:
Arbitrating Crypto, NFTs and Other New Technologies: Demystifying the Landscape
A discussion of the appeal of arbitration for technology related matter and the potential challenges it presents for arbitrators, and a look at the legal and regulatory landscape arbitrators will navigate when faced with cases involving new technologies.
Proskauer Rose Data Breach Stemmed from Common Oversight Mistakes, Not Cloud Technology
Despite the expertise at cloud providers and firms, breaches can often stem from a lack of defined roles and a lack of oversight.
Partners See More ChatGPT, Generative AI Risks Than Law Firm Staff
While the “ChatGPT and Generative AI within Law Firms” report by Thomson Reuters Institute found a generational divide in law firms regarding generative AI risks, that situation may change as legal professionals become more knowledgeable about the technology.
ChatGPT or Me? A Generative AI Primer for Law Firm Marketers
ChatGPT can provide a new channel for client engagement and interaction, which can help improve the client experience and drive client acquisition. It also has its pros and cons.
ikaun Launches Generative AI-Powered Tool to Expedite RFP Automation
Experience management platform ikaun is looking to use OpenAI’s GPT-4 along with its own generative AI technology to expedite the RFP process.
Influencer Investigations: A New Era in Digital Forensics
As companies invest more money in influencer advertising and partnerships, disputes will follow, in which critical facts will be stored within social media accounts and messaging tools, creating a host of challenges when it comes time to access, collect and review evidence.
Apprehension, Anxiety and Acceptance: 4 Ways Law Firms Are Approaching Generative AI
Watercooler talks in the legal tech industry have all revolved around generative AI in recent weeks, comprising sentiments of fear, excitement, curiosity and questions. Here, Legaltech News looked at some ways law firms are actually approaching generative AI.
China, India Step Up Antitrust Regulation, Throwing Tech Industry a Curve
As antitrust regulators around the world shorten leashes on tech multinationals, experts advise that now would be the time for companies to beef up their antitrust counsel.
ChatGPT’s Hallucinations: Laughable Inaccuracies or GDPR Violations?
ChatGPT has received increased scrutiny from European data protection authorities, as well as from its citizens, who are starting to file complaints using what lawyers say could be effective strategies.
Diversity & Inclusion:
Macfarlanes Adds 8 Partners in Latest Promotion Round
This year’s promotions include the largest cohort of women for at least eight years.
Market Commentary:
More Millennial Lawyers Now Say They Want to Make Partner
Nearly 45% of associates said they would like to make partner at their firms, compared to 23.5% in 2021, according to a new survey from Major, Lindsey & Africa and Above the Law.
New ESG Reporting Rules Will Test Disclosure Consistency, GCs Say
Regulators are expanding reporting requirements, and non-compliant companies could face financial liabilities.
Associate Lateral Moves Drop 66% As Firms Pivot To Partner-Focused Growth Mode
“Firms are hyper-focused on partner acquisitions as a means to grow in this market,” said Decipher analyst Greg Hamman, who compiled the data.
Cadwalader Makes Cuts in Associate and Business Professional Ranks
Sources familiar with the moves said the cuts in business professionals addressed business and efficiency needs while the attorney cuts followed the firm’s annual review process.
Private Equity Shift: Big Law May Be Losing Its Golden Goose
Reliance on work that propelled firms into the upper echelons of the industry may no longer be a safe bet. But there are other ways to approach private capital.
A Step Back, But Still Ahead? An Analysis of The 2023 Am Law 100
While 2022 was a return to reality, 2023 may be the real challenge. Inflation. Recession. War. Interest rate hikes. While not quite the Four Horsemen of the Apocalypse, those four data points conspired to create a rather difficult business environment in 2022, and even the ever-resilient legal industry felt the pain.
Big Law Sees Growing Revenue in Environmental Law as Biden Administration Prioritizes Climate Action
Law firms in Washington, D.C., have made a string of hires in environmental practices this year, with practice heads seeing opportunities for growth amid signs of increased federal enforcement and new environmental regulations under the Biden administration.
Why Collaboration Drives Successful ESG Programs
Companies that want to make an impact through their ESG investments will need to decide which components best apply to their business and work within those frameworks to achieve their goals.
Can Big Law Offices in Secondary Markets Succeed on Talent Alone? Salt Lake Offers Clues
Kirkland recently cut Salt Lake City associates within 18 months of hiring them to work for national clients, while other recent Big Law entrants have grown more slowly and focused on local clients.
McNees Creates New ESG Practice Group, First of Its Kind in Central Pennsylvania
“Businesses understand the value of implementing ESG principles as one way in which to improve their bottom-line costs,” said practice leader Frannie Reilly.
Law Firms Are Dropping the Ball in Keeping GCs Informed of Legal Developments
General counsel are hungry for content that keeps them up-to-date on legal developments that could affect their business, but fewer than 10% said in a survey that firms are doing enough to provide it.
Moves:
UK & Ireland
London Boutique Launches White-Collar Practice with Another Lateral From HSF
Herbert Smith Freehills partner Dan Hudson has joined disputes boutique Seladore, becoming the latest partner to follow the same route.
EMEA
HSF Announces New Antitrust Leadership
Kyriakos Fountoukakos to serve as managing partner of global competition and trade team.
Signature Litigation builds in Paris with three-lawyer team
Jérémie Fierville folds boutique into UK disptues firm as it seeks ‘sustained growth’
APAC
Herbert Smith Freehills Singapore ally launches local disputes practice with Morgan Lewis team
Leading litigator Daniel Chia joins Prolegis with three-lawyer team to head new practice.
India’s Trilegal secures eight-strong M&A team from rival Shardul Amarchand Mangaldas
Team is led by Amit Khansaheb, who assembled group while at BMR Legal before moving to Shardul in 2017.
Watson Farley & Williams hires White & Case asset finance team for Tokyo debut
UK firm follows up Seoul launch in February with new office focused on aviation and maritime finance work.
The Americas
These Attorneys Left Big Law to Chase ‘Ocean’ of Mid-Market Activity, and It’s Paying Off
As a new generation of lawyers shifts its thinking around career goals, more than a few attorneys have left their Big Law jobs behind to tap into the middle market. Now, two new firms created out of this impulse share one problem: There’s more demand than either can swallow.
New Hires, Promotions and Awards from Across the California Legal Market.
An overview of the promotions and hires from across the Californian market including that of McManis Faulkner’s managing partner Elizabeth Pipkin and Dana Kennedy joining Miller Starr Regalia.
Goodwin Lands Orrick Real Estate Partner Dustin Calkins, in San Francisco
Dustin Calkins is the firm’s third partner hire in the Golden State this year. Goodwin Procter has hired Orrick Herrington & Sutcliffe real estate partner Dustin Calkins in San Francisco, the firm announced Thursday.
Hogan Lovells Builds San Francisco Bench with Arnold & Porter Litigator
Hogan Lovells on Thursday hired consumer products litigator Trenton Norris in Northern California.
Latham Partner Advising Hunter Biden Leaves for NY Litigation Boutique
Chris Clark, who represents Hunter Biden in a federal tax investigation, is joining white-collar litigation boutique Clark Smith Villazor.
Push to Promote Lawyers to Partner Continues at Big Firms in Texas
A total of 22 of the 25 firms with the most lawyers in Texas promoted 6.4% more partners in Texas in 2022 than in 2021, continuing a trend from the prior year.
Eighth Ex-Dentons Attorney Joins K&L Gates in Pittsburgh
Scott Graham joins seven former colleagues who jumped from Dentons Cohen & Grigsby corporate and private equity practices in January.
McCarter & English Elects 7 New Partners
McCarter & English recently announced the election of seven new partners, including Travis Ferguson, a business litigation lawyer, who works out of both the firm’s Wilmington and Newark, New Jersey, offices.
Eckert Seamans Cherin & Mellott has welcomed Elaine M. Ross
She joins the firm’s Philadelphia office from Rawle & Henderson, where she was a partner, and brings with her over 25 years of litigation experience.
Gunster Hires 2 Former Florida Officials as Lobbyists Set to Work on Key State Issues
Simone Marstiller and Trey Price are joining the corporate law firm after serving in state-level government roles, where they both worked closely with other state officials.
In-House
How Will 6 New Alibaba GCs Shake Up the Legal Landscape in Asia?
The six new general counsel expected to oversee the six separate companies that will result from the breakup of Alibaba announced last month are expected to create a shakeup in the legal market in Asia, lawyers say.
Former Chime, Capital One Counsel Snags GC Job at Fintech Startup
Method Financial, a fintech startup backed by Y Combinator and Andreessen Horowitz, has hired former Capital One assistant general counsel Phil Chang as its first legal chief.
Bausch + Lomb Replaces Legal Chief Weeks After CEO Change
Bob Bailey is retaking the legal reins of the eye care giant after a decade away. He’ll work under recently hired CEO Brent Saunders, whom he formerly worked for at three companies.
Amid Unionization Pressures, Starbucks Goes Outside to Hire Legal Chief
The Seattle-based coffee giant’s new CEO is handing the legal reins to a former Medtronic, Fannie Mae and Pfizer legal executive Brad Lerman. The company has operated with an acting GC for the past year.
Rackspace Replaces Legal Chief Who Quit After Company Cut Her Duties
The cloud computing company handed the legal reins to Michael Bross, who has deep leadership experience, including a decadelong stint as general counsel of a business Rackspace acquired.
Promotions & Appointments:
Partners Elevated at Flood Law Firm and Madsen Prestley & Parenteau
Claire Howard and Daren Altieri have been promoted at their respective firms. Madsen Prestley & Parenteau recently promoted Claire M. Howard to partner. Howard represents individual employees in a range of employment disputes including whistle blower, discrimination and contractual disputes.
Office Openings & Closing:
Michelman & Robinson Charts Growth in New York With 10-Year Office Lease
The Los Angeles-founded firm has strengthened its bicoastal footprint with a bigger office space in New York, where it expects to soon hit the 25-attorney mark.
UK firm to lease 2,500 sq metres of historic tower from 2025 following eco-friendly refurbishment.
Rajah & Tann litigation partners exit to launch Singapore boutique
Danny Ong and Wern-Jhien Yam leave Singapore Big Four firm to open shop focused on dispute resolution, financial crime and insolvency.
Greenberg Traurig eyes Asia renewables boom as firm opens in Singapore
Singapore launch follows Riyadh opening last month; firm also mulls expansion in Dubai, Brazil
Financials:
RPL Ticks Up at Hunton Andrews Kurth in 2022, But Profits Fall Following Record 2021
Revenue slipped by 3.1% at Hunton Andrews Kurth, but the firm’s lawyer head count also declined by 4.9% in 2022. Net income, meanwhile, dropped by more than 17%.
Sidley Grew Revenue 4% and PEP 12% Amid Shifts in Partner Ranks
The contraction in the equity tier and the growth of the nonequity ranks are not a result of de-equitizing partners, but a consequence of significant lateral hiring and its largest-ever partner class, the firm said.
Even with Profitability ‘Squeeze,’ Perkins Coie Sees Modest Revenue Growth
Perkins Coie’s gross revenue grew slightly to $1.16 billion last year, while profits per equity partner fell 8.5% to $1.52 million.
Schulte Rides Private Capital Work to 8% Revenue Growth as PEP Takes Slight Dip
The firm’s two largest practices, investment management and litigation, were up 17% and 25%, respectively, Schulte said.
Am Law 100 Firms Reconsider the ‘Givens’ in Their Expense Budgets
Two years ago, law firms realized skyrocketing profits because they had no choice but to work remotely. Today, the cost-benefit analysis of spending on travel and in-person meetings is a matter of their own volition.
Why U.S. and U.K. Firms Capture More Profit
A look into the theory on the financial benefit of common law legal systems.
After Two ‘Boom Years,’ White & Case Sees Drop in Revenue and Profits
Profits per equity partner sank 20.2% to $2.8 million, but firm chair Hugh Verrier said he anticipates a “big bounce-back year.”
Revenue Up at Most Homegrown Texas Firms in 2022, but Profit Growth Lagged
A number of the firms brought in a record amount of revenue in 2022, compared with 2021.
Winston Kept Revenue Above $1B Threshold, While PEP Rose Amid Some Partner Exits
Litigation work buoyed the firm in 2022, led by representations of Boeing, Monsanto and Abbott Laboratories in high-profile products liability matters.
Baker Donelson Sees Record Year Amid Hikes in Demand and Billing Rates
Even after a rate hike, the firm said its billing rates were still desirable because of how they compare across its office markets.
The news follows successive delays in the firm’s financial reporting.
Top Spanish firm Cuatrecasas sees revenue grow 4.7% to hit new record
Firm’s revenue rises to €352.66m for the 2022 fiscal year as Latin American and Portuguese business grows.
Technology & Innovation:
ChatGPT & Generative AI: Everything You Need to Know
Corporate legal departments are increasingly receiving requests from business clients to use ChatGPT or similar AI-powered tools in their operations. These requests can be urgent, with business clients demanding enablement from legal. This article is in two parts: Part One briefly details what “generative AI” tools like ChatGPT are and provides an overview of key legal considerations, including by looking forward to upcoming AI-specific legislation in the EU and the U.S.
Chatbots Can Raise Unique Labour and Employment Law Risks
While few areas of the country have passed laws directly regulating artificial intelligence applications to date, introducing a human resources chatbot to your workplace still carries potential risk of violating any number of established labour and employment laws.
An Insurer Sent Law Firms a ChatGPT Warning. It Likely Won’t Be the Last
A legal insurance provider warned policyholders of the legal and cybersecurity risks of using ChatGPT. Given the chatbot’s rapid adoption, more scrutiny of the generative AI tool from insurers is likely to follow.
Proskauer Data Breach Underscores Hazards of Transitioning to the Cloud
Proskauer Rose is investigating a data breach after large tranches of sensitive client information were found to be publicly accessible from its cloud-based site, highlighting the vulnerabilities that can exist when organizations transition their internal data to the cloud.
Supercomputers Soon Will Crack Encryption. Is Your Company Ready?
“With this level of breach that can and will happen, you can’t afford to take a wait-and-see approach if you are managing sensitive data,” said Rebecca Krauthamer, co-founder of quantum cybersecurity software firm QuSecure.
Report Predicts $8 Trillion in Losses From Cyber Threats This Year
“Phishing has evolved past the Nigerian prince who wants to give you an inheritance you have never heard of, to somebody that you work with in accounting sending you what looks like a legitimate email saying, ‘There has been a last-minute change on the deal, and we need to change the wire transfer numbers,'” said Edward McNicholas, a Ropes & Gray partner.
DLA Piper Global Tech Co-Chair Says General Counsel Need Help With AI
Interest in the way in which technology can be used — and abused — in the practice of law has surged since the launch of ChatGPT.
3 Ways AI Digitization Helps Offload Manual Demand at Law Firms
Although it’s the high-profile attempts to replace human lawyers that have made their way to newsrooms, there’s plenty of industry-disrupting overhaul going on behind the scenes.
Diversity & Inclusion:
Morris Manning Expands on Efforts With South’s First LGBTQ Business Practice
The Atlanta-based firm’s new venture, which launched Monday, will “offer culturally conscious legal services to LGBTQ businesses and Fortune 500 companies,” according to a news release.
ABA Awards 5 Highly Accomplished Women Lawyers for Professional Excellence
The American Bar Association has announced the recipients of the 2023 Margaret Margaret Brent Women Lawyers of Achievement Award including a Hawaii Supreme Court justice, a New York University law professor, and Sidley Austin’s management committee chair.
Freshfields Beats Gender Target for Third Year in a Row in Latest Partner Promotion Round
Magic circle firm elevates 30 to partner – three more than in 2022 – with women accounting for 53% of promotions.
Market Commentary:
What Does It Take to Get Lawyers Back in the Office?
The legal industry personnel would come back to the office at least one more day per week if their firm provided their “ideal” mix of work experiences, a survey suggests.
The U.S.-U.K. Rivalry in Asia: Turns Out No One Has Asia Down Pat
In Asia, U.S. law firms have toppled the old British guard. This has been true for the last two years, at least. American firms have pushed and shoved their way to the top, now dominating the top 25 legal adviser league tables for acting on the largest and highest collective value mergers and acquisitions involving Asian corporates.
In Response to Layoff Chatter, Ropes & Gray Cites ‘Merits-Based Evaluation Process’
Ropes said a performance management process is part of its “normal course.” Industry observers say “aggressive” performance reviews this year are resulting in an increasingly blurry line between layoffs and review-time cuts.
Why Legal Department Generational Shifts Are Tying GCs in Knots
“There’s so much insecurity rooted in establishing a paradigm where he who works the most is the most valuable,” said Foster Sayers, general counsel of Pramata.
The Ever-Changing Minefield of Employment Law in New York
New York state and New York City labor and employment laws are a shifting minefield. Laws may change so swiftly that an employer who is in compliance at one time may find itself quickly out of compliance once New York State or New York City passes a new law. Employers must keep up or face potential peril.
‘Law Firms Are Really Expensive’: How In-House Leaders Ensure They Get Their Money’s Worth
“There are some lawyers that have been practicing for a number of years or with the firm a number of years that don’t have the experience or knowledge,” said Stephen Kim, chief legal officer of Avicanna.
Linklaters ‘Redesigns’ Low-Cost Arm and Commits to Remote Working Model
Limitless by Linklaters will offer alternative legal services without need for regional hub, firm says.
Moves:
UK & Ireland
Herbert Smith Freehills Builds in Real Estate with Ashurst Practice Head
Herbert Smith Freehills has added to its London real estate practice with the hire of partner Matthew Bool, who will join the firm’s non-contentious construction team.
Withers Swoops For Fieldfisher Real Estate Partner
Law firm Withers has strengthened its London real estate offering with the hire of a Fieldfisher partner. Real estate disputes partner Owen Talfan Davies, who has been at Fieldfisher for almost a decade according to reports, is joining Withers, according to an announcement from the firm.
EMEA
Pinsent Masons Hits Bird & Bird for 8-Strong Madrid Energy Team
Pinsent Masons has brought on a team of eight lawyers from rival Bird & Bird to bolster its energy practice in Madrid.
APAC
NRF Australian Life Sciences Head and Team Defect
Partner Toby Biddle leaves after 13 years with Norton Rose Fulbright, taking a team of five.
Sullivan & Cromwell Is a Quiet Force in Australia
The firm recently brought in a partner from London who specializes in private equity markets — a strategic move as more capital is being raised today through private equity and private credit funds than in public markets.
Morrison & Foerster Adds Private Equity Partner in China From Kirkland & Ellis
Zhao is the third private equity partner to join Morrison & Foerster in Asia this quarter, following the additions of Steven Tran and Tabitha Saw in Singapore.
Norton Rose Fulbright Hires Australian M&A Lawyer From PwC
Tuanh Nguyen also advises on diversity and inclusion.
K&L Gates Appoints New South Korea Managing Partner
Tyler Hong-Shik Won, a partner in the intellectual property, international trade and antitrust practice groups, succeeds M&A partner Eric Yoon, who has served as the South Korea office head since the firm opened its office in Seoul in 2012.
The Americas
Goodwin Chair Robert Insolia Stepping Down
Anthony McCusker takes over at a time of transition.
In Competitive Hiring Market, Baker Botts Hires First-Ever Chief Recruiting Officer
Baker Botts has expanded its C-suite ranks by hiring a veteran recruiter, Dani Barnard, as its first-ever chief recruiting officer amid a highly competitive market for laterals in private equity, litigation, antitrust, energy and technology.
Barnes & Thornburg Hires Wilmington Partner
Barnes & Thornburg announced that it has added Wali W. Rushdan II as a partner in the firm’s Wilmington office.
‘Come as You Are’: Orrick Attracts 3 Women Partners to Counsel Tech Clients
Relativity Space GC Laura Lariu joined the firm on Monday, following the arrival of former MasterClass associate GC Nikita Shah and Fenwick & West corporate lawyer Alexandra Wood.
In-House
IHeartMedia Hires Amazon Dealmaker to Be Chief Entertainment Counsel
Jon Kurland—who once said, “Audio is film in 1910″—will help the company continue to expand its reach beyond its massive collection of radio stations.
Legal Chief Departs Beer Giant Molson Coors
Anne-Marie D’Angelo will work with the company on a consulting basis as it searches for her successor.
Promotions & Appointments:
Skadden Ups Partner Promotions to 24, But Gender Split Drops
Outside of the U.S., the firm’s London and Beijing office will gain new partners.
Pinsent Masons Promotes 25 to Partner
Of the 25 promotions this year, 14 are in the U.K., six are across the EMEA region, while five lawyers have been promoted in Asia Pacific.
Mccarter & English Announced the Election Of Seven New Partners
McCarter & English announced the election of seven new partners, including Alison Morrissey in the firm’s Philadelphia office.
Mergers & Alliances:
Wachtell, Goodwin Lead Q1 League Tables as Global M&A Tumbles 44%
Two law firms that were in the top five last year saw drops out of the top 10 in early 2023.
Sullivan Cromwell, Freshfields Top M&A Rankings Amid Market Slump
Top M&A partners explain the downturn, and how firms can protect against continued market turmoil.
Office Openings & Closing:
Dentons Picks Next London Home Amid Race for Top Real Estate
The law firm is heading towards Liverpool Street for its next London home.
Financials:
In ‘Year of Investment,’ Akin Gump’s Revenue Up, but Profits Per Partner Drop 16%
Internationally, the firm closed its Moscow and Frankfurt offices in 2022. And while London revenue was down, Akin’s Middle East offices put in a “very strong performance,” said firm chair Kim Koopersmith. Akin also anticipates that conflicts with Russia and China will fuel trade and sanctions work in the year ahead, and global transactions, private equity and energy transition work are already on the rise.
Gaining Market Share, Paul Hastings Grows 6% in Revenue
The firm’s average PEP rose 4%, surpassing those of several elite New York law firms. The Hong Kong office has had a strong year, despite the capital markets, firm chair Frank Lopez said.
Strong Deals Led Atlanta’s Troutman Pepper to Another Year of Revenue Gains
Troutman saw a 2.8% increase in net income spread across an equity partner pool that shrunk 8.5%, allowing profits per equity partner to soar 12.4% to $1.55 million, as the firm de-equitized some of its partnership.
Fenwick, With New Client Capabilities, Grew Revenue Nearly 4% as Profits Inched Down
Revenue grew to $750.4 million, thanks to new regulatory capabilities and intellectual property growth, while profits fell 1.4% at Fenwick in 2022.
Technology & Innovation:
Ahead of the Curve: What Happens When ChatGPT Gets It Wrong?
This week, we’re exploring one law dean’s experiment with using ChatGPT to obtain biographical information.
Tracking Generative AI: How Evolving AI Models Are Impacting Legal
A running compilation of how the legal landscape continues to be shaped by generative AI tools, from GPT technologies to art generation tools and beyond.
Market Commentary:
Elite UK Firms Play Catch Up Following Years Of US Hiring Dominance, Research Finds
An analysis of London partner hires in 2022 has found top UK firms are bouncing back, but they have a long way to go to make up for the losses of the last few years.
The End of Kirkland’s Meteoric Rise?
It’ll take a sea change to knock Kirkland off the top spot. One may be on the horizon, argues The Global Lawyer.
The slide by a Paul Hastings associate demonstrates how tone, culture and expectations can be set throughout the law firm—not just by those sitting in the executive ranks.
Elite UK Firms Play Catch Up Following Years Of US Hiring Dominance, Research Finds
An analysis of London partner hires in 2022 has found top UK firms are bouncing back, but they have a long way to go to make up for the losses of the last few years.
Sullivan & Cromwell Is a Quiet Force in Australia
The firm recently brought in a partner from London who specializes in private equity markets — a strategic move as more capital is being raised today through private equity and private credit funds than in public markets.
Kirkland, Building on $6B in Revenue, Grew Almost 8% in Down Market
The firm rapidly grew in lawyer head count, rising 13% last year. Its associate population shot up 14.5%.
Moves:
UK & Ireland
Ashurst expands London disputes coverage with partner hire from Goldman Sachs
Banking litigation and investigations lawyer Philip Linton returns to private practice after 12 years at Goldman
Latham & Watkins secures antitrust partner in London from Linklaters
Leading merger control practitioner Simon Pritchard joins US firm after 10 years at magic circle rival
Sidley Austin makes double partner hire from Weil to bolster London private equity practice
James MacArthur and Ed Freeman bring vast deal experience, notably in the energy and infrastructure sectors
Linklaters secures leveraged finance partner in London from Shearman & Sterling
International departures from Shearman mount as Rahul Chatterji heads to magic circle rival
APAC
Herbert Smith Freehills Singapore ally launches local disputes practice with Morgan Lewis team
Leading litigator Daniel Chia joins Prolegis with three-lawyer team to head new practice
Big Law Trio Expand Key Practices with Partner Hires in Korea and Singapore
K&L Gates, Norton Rose Fulbright and Squire Patton Boggs have deepened their practices in South Korea and Singapore with key hires. K&L has strengthened its energy, infrastructure and resources practice in South Korea with the lateral hire of project finance lawyer Sarah Park from White & Case in Seoul, where she was most recently a local partner.
The Americas
Jenner & Block Builds Investigations, Fintech Practice With Former Federal Prosecutor
Jenner & Block is expanding its investigations and fintech practices with the addition of former federal prosecutor Laurel Loomis Rimon as a partner at the Washington, D.C., office.
Connell Foley Adds Four Attorneys, Including Two Partners, to Real Estate Practice in Newark
The new team members enhance a well-established Connell Foley real estate practice in Newark, New Jersey, and the Northeast. Professionals in Newark provide transactional and litigation services and solutions-oriented advocacy to companies and now hold an even stronger presence with 22 attorneys in the Newark office.
Mapes works with private equity real estate investors and energy and industrial businesses, among others. In addition to guiding his clients on the environmental aspects of real estate transactions and on regulatory compliance issues, he guides businesses through all stages of complex environmental litigation filed in state and federal courts and in appeals before administrative agencies.
Norton Rose Fulbright Hires Baker Botts Corporate Partner
Corporate partner Yan Zhang was drawn to Norton Rose’s global platform for clients, as their needs become more international in nature.
Shipman & Goodwin Announces High-Profile Hires
Shipman & Goodwin has announced two high-profile hires in the firm’s litigation and environmental law practices. Eric Del Pozo, former assistant solicitor general for the New York state attorney general’s office has joined the firm as a partner in Shipman’s litigation and appellate practices, and former clerk to the Connecticut Supreme Court, Sarah Kettenmann, has joined as an environmental law associate.
Holland & Knight Recruits Partners From K&L Gates to Build Tech Policy Team
As lawmakers on Capitol Hill continue to eye tech regulation, Holland & Knight is adding a three-person policy and regulatory team, including two technology-focused partners, from K&L Gates in Washington, D.C. The team includes lawyers Daniel Ritter and Paul Stimers and Dennis Potter, a senior policy adviser.
Wilmer Hires Allen & Overy Securities Litigator in New York
Andrew Rhys Davies is the third government lawyer to join Wilmer’s New York securities litigation practice in the past year.
Gibson Dunn Hires 2 Lawyers from Paul Hastings, Expanding Fintech and Reg Practices
Gibson, Dunn & Crutcher has brought on two attorneys from Paul Hastings who will join as partners in its fintech and financial institutions practices, as the firm continues scaling up its regulatory groups. The lawyers, Sara Weed and Jason Cabral, join as partners in Washington, D.C., and New York, respectively.
Arnold & Porter Adds Senior Lawyer From NY Fed
James Bergin, former acting co-general counsel and deputy general counsel at the Federal Reserve Bank of New York, joined Arnold & Porter Kaye Scholer as a partner in New York.
NYC’s Morrison Cohen Expands Its Connection to Miami With New Hire
New York-based Morrison Cohen scooped up a white-collar litigation duo from Armstrong Teasdale in New York, adding strength in the practice and tapping into one of the lawyers’ Florida connections. Partners Eric Creizman and Melissa Madrigal are joining the New York mid-sized firm after over three years at Armstrong.
In-House
Ex-WeWork CLO Moves to Fintech Unicorn DailyPay
A month after stepping down as WeWork’s chief legal officer, Jared DeMatteis has joined payroll services star DailyPay as its first chief legal officer and strategy officer.
Around the house: Former WeWork CLO joins US fintech DailyPay, Levi Strauss replaces veteran CLO
This week’s roundup of top in-house hires includes the appointment of former WeWork chief legal officer Jared Matteis by DailyPay to head up its legal and strategy team.
Suntory Beverages Hires New UK GC Amid Reshuffle
Lucozade and Ribena manufacturer Suntory Beverage and Food GB&I has brought in a new U.K. general counsel, amid a spate of senior in-house moves. Ewa Chappell takes on the role of general counsel at the Japanese company’s Great Britain and Ireland branch, following predecessor Mary Guest’s promotion to deputy legal director for Suntory Suntory Beverage and Food Europe. Chappell will report to Guest.
Promotions & Appointments:
Linklaters Promotes 41 to Global Partnership
The firm has matched last year’s overall figure, and has equalled its 2022 record of number of women elevated to partner.
Reed Smith Appoints New Asia Pacific Head
Praj Samant, a partner and global chair of Reed Smith’s energy and natural resources group, has been appointed as the firm’s Asia Pacific managing partner.
Law firm Herbert Smith Appoints Joint Managing Partner for Global Disputes
The appointment succeeds current dispute resolution managing partner Damien Byrne Hill, who is set to return to full-time practice, according to the firm.
Investment Managers M&G Appoint New Legal Chief
London-based investment manager group M&G has appointed the former legal chief of insurance group RSA as its next general counsel and company secretary. Charlotte Heiss joins from The Very Group, the multi-brand online retailer behind very.com and Littlewoods, where she has been group GC and company secretary since May last year. The Very Group did not reply to requests for comment at the time of publication.
Bird & Bird Chair Reappointed For Second Term
Bird & Bird has reappointed its former international technology and communications head, Graeme Maguire, as chair of the firm’s board. Maguire was first appointed as Bird & Bird’s chair at the start of the pandemic in 2020. His reappointment is effective from April 1.
Mergers & Alliances:
Shakespeare Martineau Adds Consultancy Business In Latest Expansion
U.K. top 50 law firm Shakespeare Martineau has expanded its company secretarial expertise with the addition of a business consultancy business. The outfit has added London based Bruce Wallace Associates, which comprises a team of five, including co-founders and directors Susan Wallace and Martha Bruce.
Norton Rose Strengthens Saudi Offering with Local Law Firm
Norton Rose Fulbright has become the latest international law firm to augment its Saudi Arabia presence, as the government strips away local market entry restrictions on foreign firms. The firm is forming an association with the Company of Mohammed A. Altammami for Legal Services (LOMAT).
Office Openings & Closing:
Morgan Lewis Takes Entire Shearman Office in Munich, Including Personnel and Real Estate
Morgan, Lewis & Bockius’s new Munich office, which opened its doors Monday, doesn’t just include 19 lawyers from Shearman & Sterling. It also includes the ailing firm’s lease and office personnel.
Linklaters Break Into Riyadh as Squire Forms Local Alliance
Linklaters and Squire Patton Boggs have become the latest firms to augment their positions in Riyadh following the liberalisation of the Saudi legal market. After being granted a licence by the Saudi Ministry of Justice to practise law, Linklaters will establish a new Riyadh office, the firm said in a statement. The new office will be the firm’s third in the Middle East, after Dubai and Abu Dhabi.
Law firm Herbert Smith Freehills’ Singapore alliance adds 4 from Morgan Lewis
Herbert Smith Freehills’ Singapore alliance firm Prolegis has launched a disputes practice in the country with the hire of four lawyers from Morgan Lewis, including its head of Asia disputes. Daniel Chia will join Prolegis as a director and head of litigation in early April, according to a statement from Prolegis and HSF.
Financials:
Mergers Help Smith Gambrell Grow Revenue by Record 15.5%
“I think it was a very good year, our best financially speaking. We’re very fortunate that our clients remained resilient in the face of economic headwinds,” Stephen Forte, Smith Gambrell’s managing partner and executive committee chair, said.
Foley & Lardner in a ‘Position of Strength,’ as Revenue, Profits Improve in 2022
With a focus on strategic industry sectors of energy, manufacturing, life sciences and health care, and innovative technology, Foley & Lardner grew in 2022 and improved its revenue by 5.4%.
Kilpatrick Townsend Grew Revenue 2.6% as It Focused on Mid-Market and Tech
“Overall, we felt 2022 turned out pretty well and that we are well positioned for the future,” said Kilpatrick’s chair and CEO Henry Walker.
‘Body Blows but Nothing Fatal’: With Cap Markets and M&A Down, Cahill Drops 19.5% in Revenue
After explosive growth due to strong transactional and capital markets work in 2021, the flip side of that equation was some significant drops in most key financial metrics.
Technology & Innovation:
Legal Industry Reacts to Goldman Sachs Generative AI Report: Keep Calm and Panic
Few challenged the Goldman Sachs report stating that 44% of legal tasks would be replaced by generative AI. But many had distinct theories about what that would mean for the industry.
Generative AI Could Automate Almost Half of All Legal Tasks, Goldman Sachs Estimates
A Goldman Sachs report found that, while generative AI will be more of a supplementary force for many jobs, its impact on legal could be more disruptive than in other industries, with many legal jobs at risk of automation.
How the Law Can Keep Up With Fast-Moving Advances in Technology
Big Tech and social networks of every stripe continue to wield growing influence over the information that we consume, how we interact online, and the practices of data collection and sharing at every turn. Naturally, one has to wonder: What changes are needed to global and national legal or regulatory systems to adapt to a world where the pace of industrial progress now moves at the speed of silicon?
Tracking Generative AI: How Evolving AI Models Are Impacting Legal
A running compilation of how the legal landscape continues to be shaped by generative AI tools, from GPT technologies to art generation tools and beyond.
I Robot: the rise of AI, machine learning and ChatGPT in legal
3Kites’ Paul Longhurst and Kemp IT Law’s Richard Kemp discuss the potential for AI in the legal profession and how the technology is likely to impact law firms
How legal technology can enhance the delivery of a public inquiry
From livestreaming to bringing key stakeholders together, Taryn Auchecorne and Roopal Patel of Opus 2 consider how judicious use of tech can make a public inquiry more efficient and transparent
Diversity & Inclusion:
Eckert Seamans Forms ‘Inclusion Council’ to Direct Diversity in Recruiting, Better Retention
The newly minted Inclusion Council has already created a language guide to educate employees on the implications of the language they use even in ordinary conversation and how certain terms or phrases might impact co-workers.
Anusia Gillespie, SVP Enterprise Solutions at UnitedLex, discusses educating clients on current options and resources for modernizing the legal function, how DEI is the core mission of modernization, and why it’s critical to take a data-driven approach to non-billable activities.
Linklaters meets gender diversity target for third consecutive year in latest promotion round
Magic circle firm elevates 41 to its partnership, with 17 women making the cut – just above its 40% goal.
Freshfields Reveals First Socio-Economic Pay Gap Data As Other Gaps Grow
The firm has reported a mixed set of results for its people and revealed how its peoples’ socio-economic backgrounds have impacted their remuneration.
Market Commentary:
Am Law 200 Firm Leaders Aren’t Sweating Double-Digit Profit Drops. Here’s Why
For some, the dip was a necessary consequence of spending more on travel for much-delayed in-person meetings. For others, 2022 was the right time to invest in growth aimed at generating long-term rewards.
Allen & Overy’s Next US Leaders Seek Broader Profile in Corporate America
Allen & Overy’s U.S. chair will pass the leadership reins in May to a pair of partners who aim to deepen the firm’s relationships with deal-seeking corporate clients. The newly christened U.S. co-chairs said they would like to broaden the firm’s image in corporate America from a banking and finance-focused firm to a trusted M&A advisor.
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