Weekly Update – 18th of March 2024

Moves:

UK & Ireland

Paul Weiss Continues London Drive With Clifford Chance Partner Hire

Those with knowledge of the situation say that Oliver Marcuse, who spent more than ten years working in Clifford Chance’s corporate practice, has joined Paul Weiss.

Pillsbury Hires Investigations Head to Continue London Office Boost

Audrey Koh left boutique legal firm Avonhurst after almost three years to join Pillsbury’s global disputes practice. Before that, she spent just over two years as a partner at the UK-founded Womble Bond Dickinson and worked for six months as counsel at Sidley Austin.

A&O Partner Exits For Kirkland After 13 Months

Just 13 months after joining A&O from Shearman & Sterling in January 2023, Marwa Elborai is departing the company.

Clarke Jeffers appoints family lawyer Breda Storey as partner

Breda Storey, a family lawyer, has joined the Dublin law firm Clarke Jeffers Solicitors as a partner.

 

EMEA

With International Aspirations, Italy’s BonelliErede Looks to Grow in London and the US

The two executives of the law firm discussed the firm’s innovative approach with law.com International. It is centred on international expansion and involves lateral recruitment in London, the potential to open an office in the United States, and a greater emphasis on referral partnerships.

CVC announces new Chief Legal and Compliance Officer

Brechje will help the Board and all seven of their platforms in addition to taking charge of all legal and compliance affairs for CVC worldwide.

 

APAC

Withers Appoints New Co-Managing Partners in Singapore

Partners Daniel Yong and Shashi Nathan will take on their new roles beginning March 31.

Former EY Hong Kong Affiliate Partners Find New Homes Following Office Closure

Fai Li is a Hong Kong partner in a Chinese law firm, while Rossana Chu is currently a partner at a Hong Kong practice.

Australia’s Clayton Utz Takes Baker McKenzie Insolvency Head

The most recent insolvency partner to change companies in the nation is Maria O’Brien.

Australia’s Hall & Wilcox Hires Corporate Partner from EY

Steve Johns is an M&A specialist.

Taylor Wessing Welcomes IP lawyer in Dubai

Tanisha Agarwal works alongisde the wider team on a range of IP, media, trademark and copyright protection matters in the region.

 

The Americas

Weil Hires SEC Veteran, Amid String of DC Partner Moves in Big Law

After working for the agency for over ten years, Christopher Mulligan has been replaced by new litigators at Sidley Austin and Brownstein Hyatt Farber Schreck.

People in the News—March 11, 2024—Eastburn and Gray, Goldberg Segalla

Attorneys Richard H. Maurer and Jennifer Walters Brown joined Eastburn and Gray on February 1st.

Weil’s Energy Sector Expansion Continues With Lateral Partner From Bracewell

In the last year, the business has added five new energy partners, including Steven Lorch.

A&O Partner Exits For Kirkland After 13 Months

The resignation of Marwa Elborai coincides with the impending merger of A&O with her previous company.

Goodwin, Orrick, Steptoe, Willkie Add DC Partners Amid Uptick in Lateral Moves

Lori Gordon, co-chair of Perkins Coie’s post-grant practice, was hired by Goodwin. Several Am Law 200 partners, including her, joined new firms in Washington, D.C.

Former Cosby Prosecutor Leaves Saltz Mongeluzzi for Anapol Weiss

The practice group for sexual abuse at Saltz Mongeluzzi was founded by Kristen Gibbons Feden, the prosecutor from Montgomery County who made the closing argument in Cosby’s second criminal trial.

People in the News—March 13, 2024—Rawle & Henderson, Bardsley

Grant H. Hackley joined Rawle & Henderson recently as of counsel in the Pittsburgh office of the company.

With Mass Torts ‘Getting Even Bigger,’ Shook One of the Latest to Add in LA

As Shook continues to expand its Los Angeles office, Alycia Degen, a co-leader of Sidley’s product liability and mass torts group, has relocated there.

Midsize Moves: Munsch Hardt Scoops Carrington Coleman Partner, Hall Render Welcomes Back Partner From McGuireWoods

Munsch Hardt Kopf & Harr announced the addition of Chad Ray, a patent litigation trial attorney with over 14 years of experience, as a shareholder in the Dallas office. Additionally, the Indianapolis, Indiana, office of Hall, Render, Killian, Heath & Lyman announced the hiring of Rubin Pusha III.

Former Genova Burns Leaders Join Jackson Lewis in Growing Berkeley Heights Office

Jason C. Gavejian, the managing principal of the firm’s Berkeley Heights office, said. “With Dina’s focus in human resources counselling, John’s high-stakes trial experience and Doug serving as a key resource for labour and workplace safety matters in the state, we are thrilled to welcome such talented attorneys and bolster our ability to meet rising demand in New Jersey and beyond”

Akin Lures Paul Hastings’ Alternative Lender and Private Credit Group Head

Bill Brady stated that Akin provides an opportunity to gain experience his practice, and he was attracted to the firm’s strategy of operating as a “global one-stop shop” for private credit lenders.

 

In-House

MoneyGram Hires New GC Following $1.8B Buyout

The company is now privately held, and Cory Feinberg, who joined MoneyGram in 2015 after working for Bank of America, is in charge of legal matters.

Estée Lauder GC Exits as Battered Cosmetics Giant Preps for Makeover

Executive Chair William Lauder stated that the departing General Counsel Deirdre Stanley is “a highly sought-after mentor, collaborative colleague, and respected adviser, and has elevated our work around the world.”

Marimaca Copper Hires Corporate Counsel as Chile Mine Nears Output

With 20 years of expertise advising Chilean and foreign companies on mergers and acquisitions, securities law, corporate governance, commercial law, and corporate law, Solange González comes to Santiago from Falabella, a sizable retailer in Chile.

US components-maker ATI hires GC from energy business HF Sinclair

Vaishali Bhatia has been appointed by US materials giant ATI as general counsel. Elliot Davis, who is retiring later this year, is the company’s chief legal and compliance officer.

Bank for International Settlements names deputy as next GC

Dessislava Guetcheva-Cheytanova, a deputy general counsel, has been selected by the Bank for International Settlements (BIS), sometimes known as the central bank for central banks, to take over as general counsel. Current GC Diego Devos is scheduled to retire.

 

Team Moves

Midsize Moves: Manning Gross Hires 4 Partners From McElroy Deutsch, Royer Cooper Gets Senior Counsel From Fineman Krekstein

According to a business statement, Manning Gross + Massenburg welcomed Nancy McDonald, David Primack, Gabriel Ferstendig, and Jodie Ryan as partners; Royer Cooper Cohen Braunfeld announced the appointment of lawyer Andrew A. Chirls as senior counsel to its litigation group.

On the Move: Nelson Mullins Adds New Corporate, Energy Partners in Southeast

In February, corporate lawyer John Monahan joined Nelson Mullins from Am Law 200 firm Thompson Hine, while mergers and acquisitions specialist Todd Wade joined from Am Law 100 firm Bryan Cave Leighton Paisner (BCLP) in Atlanta.

McDermott Grabs 7-Attorney White-Collar Group From Orrick, Plus SDNY Cybercrime Prosecutor

Guy Singer from New York, Anne Murray from Washington, D.C., Franklin Monsour Jr. from New York, Kelly Newsome from New York, and Caitlin Sheard from Washington, D.C. make up the Orrick group’s partners. Former SDNY prosecutor Sagar Ravi will also be in D.C.

Morgan Lewis Adds on Three Investment Management Partners From Perkins Coie

Todd Zerega, who is joining the company in Pittsburgh, was formerly the co-chair of Perkins’ investment management division.

Lewis Brisbois Loses Minneapolis Product Liability Group in Move to Husch Blackwell

About half of Lewis Brisbois’s Minneapolis-based partnership will be leaving soon.

McDermott adds seven-lawyer litigation team from Orrick as it eyes white-collar growth

Alongside former SDNY prosecutor Sagar Ravi, the group joins in New York and Washington, DC, as McDermott anticipates an increase in FCPA activity.

Skadden adds funds trio in London from Debevoise

The team is led by Delphine Jaugey, who will serve as Skadden’s head of secondaries, Europe. She joins as a counsel alongside associates Laurence Hanesworth and Aaron McPherson.

 

Promotions & Appointments:

People in the News—March 12, 2024—Pietragallo Gordon, Stradley Ronon

Gaetan J. Alfano, a partner of Pietragallo Gordon Alfano Bosick & Raspanti, has been appointed by the Pennsylvania Supreme Court to the Pennsylvania Disciplinary Board.

A&O Shearman’s New Leaders Show Combined Firm is ‘Neither UK Nor US Centric’

Past and present partners give their views on the surprising election results that mean neither of the combined firm’s two leaders will be based in either of its two biggest regions.

O’Melveny Re-Elects Chair, Prepares for ‘Tremendous’ 2024 After Revenue Dip

O’Melveny’s financial year can hardly be represented by the stats, according to chair Bradley Butwin in an interview. O’Melveny declared on Thursday that Butwin had been re-elected to a fourth term as firm chair, which will take effect in February 2025.

Withers Appoints New Co-Managing Partners in Singapore

Partners Starting on March 31, Shashi Nathan and Daniel Yong, will assume their new positions.

 

Mergers & Alliances:

Kirkland, Latham Advise $35B Natural Gas Sector Merger

In the upcoming acquisition of Equitrans Midstream Corp., which is expected to establish a vertically integrated natural gas corporation valued at over $35 billion, Kirkland & Ellis is representing EQT Corp.

Maynard Nexsen, Growing White Collar Defense Practice, Acquires Boutique Law Firm

Erica Barnes of Maynard Nexsen said that “We really wanted people who had experience on the defense side and could kind of jump in on day one for our clients.”

Withers Enters into Alliance with Indonesian Boutique

Karna Partnership was established in 2020 and currently has 12 attorneys and five partners.

Dentons Expands to New Zealand’s Christchurch with Health Firm Acquisition

Claro is a specialist health sector law firm.

8 Firms Line Up on €8 Billion European Telecoms Merger

The most recent in a string of recent M&A megadeals in European telecoms is Swisscom’s acquisition of Vodafone Italia.

UK Firm Fenwick Elliott Forms Alliance With Chile’s Molina Ríos

The partnership will focus on the increasing demand for advice on construction and infrastructure projects in Latin America.

 

Office Openings & Closing:

International arbitration boutique hits the ground running following Paris launch

With a number of current and upcoming assignments, the Paris-based team continues to concentrate on the mining, infrastructure, energy, telecommunications, and pharmaceutical sectors.

Freshfields Goes to One-Size Attorney Offices, as NY Space Mixes ‘Egalitarian’ and ‘Vibrancy’

Junior associates and senior partners in New York have the same square footage for their solo workplaces.

How Much Is Paul Weiss Shelling Out for Its New London Office?

The company was able to get a larger space per lawyer than many of its competitors by securing its London offices in Soho at a substantial discount to market value.

Stewarts Nearly Doubles London Footprint

The specialty litigation business decided to take on an extra 21,000 square feet in the building and has extended its lease for 5 New Street Square. According to the corporation, this brings its total space up to 70,000 square feet spread across three stories.

How Much is Paul Weiss Shelling Out for its Soho Premises?

Paul, Weiss, Rifkind, Wharton & Garrison secured its London offices in Soho at a price that is significantly undermarket value, enabling it to take more space per lawyer than many of its rivals.

Kinstellar marks Southeast Asia launch with 21-lawyer ‘sister’ firm

Renowned independent law company Kinstellar in Europe has entered the Southeast Asian legal industry through a joint venture with Asia Counsel, a Vietnamese practice with 21 lawyers.

 

Financials:

An Early Look: The 2024 Am Law 200 Financials

This feed receives constant updating. So, bookmark it, check back regularly, and stay tuned for the Am Law 100 and Second Hundred reports coming soon.

As New Client Business Expands, ArentFox Schiff Sees Revenue and Profit Spike

Firm managing partner Brian Waldman said, “Ten percent of our revenue came from brand-new clients, [which] we attribute in large part to the merger,”.

White & Case, Reversing Revenue and Profit Slides, Rides Out Practice Growth in 2023

In a year that saw the company undergo its first leadership transition in over 20 years, the firm had a number of exceptional practices.

Baker Donelson, Fueled by Demand and Rate Increases, Sees Revenue and Profits Climb

Profits increased when the Tennessee-based company paid off debt from its recent growth.

Paul Weiss, Seeing Record Year in Revenue and Profits, Plans Compensation, Partnership Changes

Brad Karp the firm chair argues that the growth, including crossing the $2 billion mark in revenue, comes as Paul Weiss has decided to move to a two-tier partnership and a black-box compensation system for partners.

Husch Sees 10% Revenue Growth as Nonequity Tier and Head Count Expands by Double Digits

The nonequity layer increased by 11.4% as the company made lateral investments. The average PEP decreased to $833,00, a 3.9% decrease.

White & Case Reverses Revenue and Profit Slides, Increasing 2023 Revenue and Profits

According to the company, 43% of its income came from business in Europe, the Middle East, and Africa, 8% came from Asia-Pacific, and 49% came from work in the Americas. Revenue from its UK headquarters came to $444 million, a 1.6% decrease from 2022.

Duane Morris Sees 16th Straight Year of Revenue Growth, but Profits Lagged

CEO and Chair Matt Taylor pinned the 3.6% dip on pressures on transactional work.

With Slower Start to 2023, Munger Tolles Sees Revenue Decline to $306M While PEP Rises

The firm had 74 equity partners, an almost 10% decrease in comparison, while its average PEP increased by approximately 5% to $2.2 million.

Revenues Triple at Largest Public Litigation Funder as Earnings Per Share Grow 19x

In the fiscal year 2023, Burford Capital’s revenues increased to $1.1 billion. In response to the news, the company’s shares on the New York Stock Exchange increased by 4.4%.

Willkie Continues Growth Run, Seeing 8.7% Rise in Revenue and 29% Expansion in Nonequity Tier

The firm’s partnership grew, with around a 3.5% increase in the equity tier and a 29% rise in the nonequity tier, up to 121 partners, amid a wave of laterals and promotions.

Holland & Knight Reports Double Digit Revenue Growth Amid Merger, Leadership Transition

The company’s revenue exceeded $1.8 billion in 2023 because to the merger with Nashville-based Waller Lansden Dortch & Davis in early 2023. This represents an increase of over $800 million in revenue since 2019.

Arnall Golden Gregory Sees Revenue and PEP Inch Up

Managing partner Sean Fogarty said that “When every single thing goes up in costs year over year, if you’re not responding to that, you’re not keeping up with the rest of your ecosystem,”.

DLA Piper Posts 8th Consecutive Year of Revenue Growth Thanks to ‘Horizontal Scale’

Diversified practice areas and geographies continue to prove effective for the global law firm.

Kirkland Crosses $7B Mark, With Steady And Countercyclical Business Drivers

The firm continued to improve its profit margin, as average PEP rose nearly 6% to $7.955 million, according to American Lawyer reporting.

BCLP Sees Flat Year for Revenue, Profits

Global CEO Steve Baumer said that while the firm’s U.S. offices continued to be responsible for the lion’s share of revenue, offices in the U.K., Continental Europe, Asia, the Middle East and Australia also contributed to its total revenue of $840 million.

‘Outrunning the Bear,’ Cooley Posts Revenue High Amid Head Count Decline

Cooley chair Joe Conroy said, “We did more than our share of capital markets work in the crappiest market we have seen in a long time,”.

Willkie Continues Growth Run, Seeing 8.7% Rise in Revenue and 29% Expansion in Nonequity Tier

Co-chairs Matthew Feldman and Tom Cerabino reported that sales from the company’s London branch brought in $130 million, a 30% rise from the previous year. They also mentioned that Willkie Farr receives roughly 20% of its revenue from Europe and the U.K.

 

Technology & Innovation:

Artificial Intelligence Is Monopolizing the Attention of Regulators and Lawmakers

Fears about consumer protection and competition have emerged with the advent of AI technology. As a result, lawmakers and regulators are paying attention to the AI boom and are eager to make sure that businesses using AI are abiding by consumer protection and antitrust rules.

Decoding DOJ’s New ‘Justice AI’ Initiative

When the DOJ starts developing its own algorithm for AI-related enforcement, it is going to encounter many new and practical problems. Three areas of AI-related enforcement are briefly examined in this article, where new concerns and practical challenges may surface.

New Tech Initiative Seeks to ‘Modernize Legal’ by Fixing Broken Law Firm Feedback Loops

The Modernize Legal project introduces “a Rubik’s Cube of surveys” to simultaneously get the gist of all sides of law firm innovation from associates, law firm leaders, practice technologists and legal tech providers.

Judges Have Concerns About Artificial Intelligence: Here’s What They Said

Cobb Judicial Circuit Chief Judge A. Gregory Poole said “I am concerned that AI can be used to alter or even manufacture evidence,” and “I am not sure how we will deal with this or even, in some cases, recognize a problem.”

Law Firm Innovation: How BakerHostetler Launched FinClar, a Lawyer-Built FinTech Tool

Legaltech News caught up with Jonathan Forster, Northeast practice leader of BakerHostetler’s Private Wealth Group and the one behind FinClar, to explore how and why he created the firm’s new FinTech tool, and what he has planned for the future.

Thomson Reuters Launches Legal AI Assistant CoCounsel Core in the UK

Thomson Reuters’ legal AI assistant, which it acquired in 2023 through the acquisition of legal research business Casetext, is already being used by at least two U.K. firms.

European Parliament Passes Landmark AI Act, World’s First Comprehensive Law Regulating Artificial Intelligence

The AI Act, the world’s first artificial intelligence law framework, may establish global standards for AI legislation.

Latin American Law Firms Slowly Warm to Artificial Intelligence

Lawyers in the region are looking to early adopters in the U.S. and Europe for direction as pilot programs begin to spread out.

Wachtell, Simpson, Gibson Dunn Emerge as Key OpenAI Players

OpenAI is retaining its legal threat guidance within the Big Law family, including dangers from all quadrants.

 

Diversity & Inclusion:

6 Lessons for Women on Building Successful Personal Injury Practices

Deborah S. Dunn, co-chair of Stark & Stark’s personal injury group wrote “Because there weren’t many senior female personal injury attorneys who I could turn to throughout my career, I wanted to share six lessons I have learned over my career,”.

Covington’s Stacey Grigsby on the Changing Legal Landscape for Diversity, Equity, Inclusion and Accessibility Initiatives

Grigsby returned to the firm earlier this year as a senior member of its institutional culture and social responsibility practice and co-chair of government litigation. Grigsby worked on civil rights issues as Deputy White House Counsel in the Biden Administration.

Winners unveiled at the Women and Diversity in Law Awards

At the Women and Diversity in Law Awards, legal professionals, companies, not-for-profit organizations, and teams from all throughout the UK were honored for their accomplishments in the areas of diversity, equity, and inclusion.

Maples Group welcomes new global DEI lead

Based in London, Ms. Buraimoh will provide guidance, direction, and leadership for the group’s worldwide DEI strategy’s implementation, collaborating with local DEI committees throughout the world, including those in Ireland.

 

Market Commentary:

This Land Is My Land? Recent Disputes Involving Renewable and Energy Transition Projects

According to Meghan Dawson McElvy of Bradley Arant Boult Cummings Renewable energy and energy transition “development has created and will continue to create various clashes between private landowners and developers”.

Being a Good Lawyer Includes Being a Good Businessperson

Most disciplinary cases involve neglecting to handle IOLTA accounts or not complying with requests for audit or overdraft paperwork.

Anticipating Transactional Rebound, Am Law 50 Steps Up Partner Hiring in Early 2024

“It shows optimism about what’s to come,” said Macrae partner Jon Truster. “I don’t believe that the hiring is reflective of deal activity. I think it’s law firms being more opportunistic that their corporate departments will become busier.”

A&O Shearman’s New Leaders Show Combined Firm is ‘Neither UK Nor US Centric’

Commenting on the unexpected election results that mean neither of the combined firm’s two executives will be headquartered in either of its two largest areas are current and former partners.

The Law Firm Disrupted: Who Would Want to Manage a Big Firm Anyway?

The constraints on leaders are brought into sharper focus in a week that saw the abrupt resignation of one Am Law 100 managing partner and the election of another to a new term that will last through 2029.

  1. Law Firm Profits Soar During A Mental Health Crisis. Is This A Coincidence?

When this happens, it is better for the client, the task, and you personally most of all to say “No.”

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