Law firm mergers have transformed the Biglaw landscape over the past decade. Several of the five firms in our latest open thread on Vault 100 firms have been involved in merger mania.
Here are the firms to talk about this morning:
Sadly, the music-loving law firm of Nixon Peabody is not on this afternoon’s list of five Vault 100 firms to talk about. And don’t hold your breath — we won’t reach NP until we hit the 70′s.
Here are the firms that are on the table:
We’re surprised that the firms in this latest group of Vault 100 law firms aren’t ranked more highly. Some of them are quite profitable (Dechert),* prestigious (Munger), or high-profile (Boies Schiller, home of legendary litigator David Boies).
But who are we to argue? For communal discussion, here is this morning’s batch of Biglaws:
We’re pressing on with our series of open threads on Vault 100 law firms. We know that some of you are eager to discuss firms ranked in the 70′s, and we don’t want to disappoint you.
And a quick word from one of our sponsors, ATL’s Career Partner, Lateral Link:
“Lateral Link provides free access to the Vault firm information/career guides. Readers can get free access to the full information on our site as part of our career center.”
Without further ado, here are the five firms for this afternoon (in Vault 100 order, prestige scores in parentheses):
We’ve now covered over a third of the Vault 100 law firms in open threads. But that means we still have two-thirds to go (assuming we follow through to the end).
The next five firms are colorful. They include one firm that was featured in the Transformers movie, and another that used to employ a high-priced escort.
For your consideration (in Vault 100 order, prestige scores in parentheses):
We expect (formerly bedbug-infested) Cadwalader to generate a fair amount of discussion, since we hear associate morale over there ain’t so hot. Consider this comment, from the morning’s open thread on happy hours:
At my anonymous law firm they pour water in a trough and hang a feed bag in a conference room daily, they then ring a bell and let us know we have 2 minutes to eat and drink before we must get back to work … Man, I love working at Cadwalader… Oops.
And we also expect interesting stuff about Mayer Brown. From a tipster:
Would you consider running a piece on the troubles at Mayer Brown? You’ve already reported on their partners being fired/leaving, the Refcomess, and their unhappy associates. I think some open speculation on where their firm is going would be very enjoyable at this point.
It’s fall recruiting season, and rumors are flying about every law firm under the sun. Here’s something from the ATL mailbag about Linklaters:
I’m going through [the on-campus interview program at my law school] and each day I kept hearing the same thing. Apparently Linklaters’s summer associates had such a terrible time the last few months that many of them have not yet accepted their offers.
Despite the salary, they are going through EIW hoping to get hired by someone else, because they
hated being at Link. Can you confirm this?
We hadn’t heard about this. We do know that morale in the Stockholm office of Linklaters is pretty high (in an “I’ll have what he’s having” kind of way).
Anyway, we contacted the firm for comment. Josh Berick, Co-Hiring Partner in New York, had this to say:
In 2007, Linklaters had its largest and strongest summer associate class ever. The firm is thriving, and many of our summer associates have been able to work on some of the largest cross-border transactions of the year.
It is anticipated that all of our summer associates will receive offers to join us, once the program is concluded. Linklaters traditionally has had a very high acceptance rate, and we are confident that the vast majority of our 2007 summer associates will accept their offers.
As always, we welcome any tips by email (subject line: “Linklaters”). Thanks.
As you may recall, earlier this year there were rumors about there not being enough work to go around in the San Francisco office of Bingham McCutchen. Some of these rumors were prompted by the firm offering buyouts to some associates.
The rumors of slowness are starting to resurface:
I am a 2L at [a top ten law school], and we are mid-EIP. Early this summer I bid for Bingham’s San Francisco office, only to receive an email after bidding closed that they would not be coming to EIP and my bid was cancelled.
I just spoke to a friend who bid for their DC office and received an interview. She got an email (last week I believe) saying Bingham DC would not be attending either, and her interview was cancelled.
What’s up? Sinking ship? Not enough work?
Not so, according to firm spokesperson Claire Papanastasiou:
We carefully assess our hiring needs and annually review our OCI approach to maintain a balance of entry-level attorneys in all of our offices. Class sizes change from year-to-year, and we adjust our on-campus schedules accordingly.
For example, in San Francisco and D.C., we had a higher-than-anticipated acceptance rate for this past summer. To maintain the appropriate balance of entry-level lawyers in those offices, we’ve adjusted next summer’s class size.
If you have more light to shed on the situation, please feel free to email us (subject line: “Bingham McCutchen”). Update: Remember the Fried Frank policy on entering one’s billable time? Bingham is also anxious about time entry (even if their policy is more forgiving). Memo after the jump (or click here). Earlier: Prior ATL coverage of Bingham McCutchen (scroll down)
Ed. note: The Asia Chronicles column is authored by Kinney Recruiting. Kinney has made more placements of U.S. associates, counsels and partners in Asia than any other recruiting firm in each of the past six years. You can reach them by email: [email protected].
Since late last year, things have been booming in Hong Kong / China in cap markets, especially Hong Kong IPOs. M&A deal flow has recently been getting a bit stronger as well. Although one can’t predict such things with any certainty, all signs are pointing to a banner entire 2014 for the top end US corporate and cap markets practices in Hong Kong / China. This is not really new news, as its been the feeling most in the market have had for a few months now and things continue to look good.
The head of our Asia practice, Evan Jowers, has been in Hong Kong for about 10 days a month (with trips every other month to both Shanghai and Bejing) for the past 7 months (Robert Kinney and Evan Jowers will be in Hong Kong again March 15 to 23), and spending most of his time there meeting with senior US hiring partners at just about all the major US and UK firms there, as well as prospective candidates at all associate levels and partner levels, and when in the US, Evan works Asia hours and is regularly on the phone with such persons, as our the other members of our Asia team. Our Yuliya Vinokurova is in Hong Kong every other month and Robert is there about 5 times a year as well. While we have a solid Asia team of recruiters, Evan Jowers will spend at least some time with all of our candidates for Asia position. We have had long standing relationships, and good friendships in some cases, with hiring partners and other senior US partners in Asia for 8 years now.
Are you challenged by the costs and logistics of maintaining your office, distracting you from the practice of law?
Many small firms are successfully moving part—or even all—of their practice to a virtual setting. This even includes multi-jurisdictional practice spanning several states and practice areas, although solo and small partnerships are still the largest adopters of virtual law.
Can you do the same? The new article Mobile in Practice, Virtual by Design from author Jared Correia, Esq., explores how mobile technology bring real-life benefits to a small law firm. Read this new article—the next in Thomson Reuters’ Independent Thinking series for small firms—to explore how a mobile practice:
Everyone is talking about the importance of Social Media in Corporate America. But it is relatively safe to say that most law firms and lawyers are slightly behind the social curve. Most lawyers, at minimum, use LinkedIn, for networking. Some even use Twitter for pushing out short, pithy content, while many have Blogs, where they write their little hearts out. The adage “it is better to give than to receive” is not always true though in the world of Social. In the Social World – it is best to listen, give back and engage.
Social Media is a communications tool that can deeply educate you about the needs and wants of your clients and prospects when used in conjunction social media monitoring and sharing tools.
Take this quick quiz and see if you know how to use Social to help you engage more with your clients or to better service the ones you have.