Bankruptcy, Musical Chairs

Musical Chairs: Mayer Loses Bankruptcy Chief to Orrick

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With the U.S. economy in the toilet, third tier or otherwise, law firms are building up their bankruptcy practices. They’re eagerly scooping up lateral associates in the field — and partners, too. From the American Lawyer:

A rough 18 months for Mayer Brown got a little worse on Monday, when San Francisco’s Orrick, Herrington & Sutcliffe announced that Raniero “Ron” D’Aversa Jr., the co-chair of Mayer’s restructuring and bankruptcy practice, would join Orrick immediately.

Considered a rising star of the bankruptcy bar, the 44-year-old D’Aversa — whose book of business is said to exceed $5 million by sources familiar with his work and reputation — will be based out of the New York office of Orrick. The firm placed 27th in this year’s Am Law 100 rankings with gross revenues of $772,000 and profits per equity partner of $1.7 million.

Will D’Aversa be taking clients with him? There’s disagreement on that score. Roger Frankel, the (kinda scary-looking) chair of Orrick’s bankruptcy practice, said that “it’s clear that there will be significant clients moving with him.” But Mayer issued a statement claiming that “no disruption of any client relationships is expected.”
Mayer Brown Loses Restructuring Chief to Orrick [American Lawyer]
Ron D’Aversa bio [Orrick, Herrington & Sutcliffe]
Raniero D’Aversa, Jr. bio [Mayer Brown via Google Cache]
Earlier: Job of the Week: Bankruptcy Can Be Good

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