Lateral Moves

kirkland RFEarlier this year, we noted a number of departures of private-equity partners from Kirkland & Ellis, a traditional leader in the PE space (and the #2 firm in our new law firm rankings). But K&E has also picked up partners in this practice area as well, including Sean Rodgers and Rick Madden, plus Andrew Calder and Anthony Speier in Houston.

This week the revolving door spins again at Kirkland, with the departure of a lawyer who has served in leadership roles at K&E. Who is he, and where is he going?

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goodbye farewell Ill miss you“Beware the serial lateral partner.” That’s conventional wisdom in some circles of the legal profession. Here’s a pattern you often see: someone who gets poached by one firm, presumably lured by a big pay package, then laterals to another firm after the period of guaranteed compensation runs out, to enjoy another few years of guaranteed comp.

Today’s lateral partner story is a bit different. This high-profile partner is leaving his new firm after less than a year there (surely to the great disappointment of any recruiter who might have been involved in his original move).

It’s a strange story. What could be going on here?

double red triangle arrows Continue reading “Musical Chairs: A Recent Lateral Partner’s Mysterious Departure”

Now that Bingham McCutchen appears to have found a savior, talk is turning to other firms that have experienced a lot of recent partner attrition. One such firm is Dickstein Shapiro, which lost the most partners to lateral moves in 2013 and has continued to shrink over the course of 2014.

Today brings word of more Dickstein departures. Who are the latest lawyers to leave?

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Ed. note: This is the latest installment in a series of posts Lateral Link’s team of expert contributors. Ryan Belville is the Principal for Lateral Link’s New York office, where he oversees attorney placements and client services. Ryan also establishes and maintains relationships with new employers in need of attorney placement services on a national level. Before joining Lateral Link, he practiced litigation for several years and then became a legal recruiter in New York in 2004. In 2007, Ryan joined Lateral Link as a Director, and worked both the New York and California markets before being promoted to Managing Director in 2012. Ryan holds an undergraduate degree from the University of Michigan, where he attended the Honors College, and a J.D. from Vanderbilt University Law School.

It seems that there are few more dreaded tasks for junior associates than creating a résumé from scratch, or even updating an outdated version. However unpleasant, it is critical: a résumé is your 30-second “pitch” to a Partner that will make or break your chances to land that coveted interview. Given the ultra-competitive environment that is today’s lateral market, the importance of presenting a clean, effective résumé is paramount. Here are ten guiding principles and tips- they ought to save you some time and make your résumé stand out as truly interview-worthy…

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John Grisham

* Dickstein Shapiro’s IP practice was raided by Manatt Phelps & Phillips, and now the struggling firm is down one practice group coleader thanks to its partner defections. [Am Law Daily]

* Contrary to popular belief, O’Melveny & Myers is not opening a Portland office. Instead, the firm is setting up a temporary shop to work on a local patent trial. [Portland Business Journal]

* You can turn an IPO into a gold mine for your firm using this one weird trick. Discover how you can turn that one deal into your future. Prepare to be shocked. [Law360 (sub. req.)]

* Now isn’t the best time to enroll in law school. It’s also not the best time to rank law schools as “top” schools based on enrollment alone. Seriously, have you even heard of all of these law schools? [Birmingham Business Journal]

* Thanks to this Georgia appellate ruling, parents may now be held responsible for what their silly little children who weren’t supposed to be on Facebook are posting on Facebook. Dislike. [WSJ Law Blog]

* John Grisham says not all consumers of child pornography are pedophiles. Here’s a story about one of his law school pals: “He shouldn’t ‘a done it. It was stupid, but it wasn’t 10-year-old boys.” [The Telegraph]

Ed. note: This is the latest installment in a series of posts Lateral Link’s team of expert contributors. Larry Latourette is Principal at Lateral Link, focusing exclusively on partner placements with Am Law 200 clients.

In Part 1 of this series, I introduced three lawyers — Alpha, Beta, and Gamma — to help explain the value that a partner candidate can gain from working with the right recruiter. Each candidate was relatively junior, each had in the high six figures in business, and each had decided to leave his or her current firm for the right opportunity. When last we left our intrepid trio, I had used no-name profiles at appropriate firms to obtain interviews for each of them.

While I kept in close contact with each candidate throughout the process (see Anatomy of a Lateral Move for an overview of the steps commonly involved), each candidate had unique issues that required particular attention…

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In our last report on the beleaguered Bingham McCutchen, we predicted that its partners would vote in favor of the proposed merger with Morgan Lewis — even if some of them might get de-equitized as a result. Why? Because “it’s not clear that Bingham has better options.”

Talk about understatement. Maybe this is fearmongering to get Bingham partners to approve the deal, but check out what management is saying might happen if this deal doesn’t go through….

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FYI Jami and Therese: On Wednesdays, we wear pink!

* SCOTUS justices added 11 cases to this term’s docket yesterday following their megaconference earlier this week. Alas, no same-sex marriage cases have been added yet. [New York Times]

* The Fifth Circuit allowed Texas to enforce its new abortion clinic restrictions. The only thing that will stop its “devastating impact on abortion access” is SCOTUS intervention. [MSNBC]

* Two more women just joined the ranks of the highest tier of Biglaw firm leadership. Congrats to Jami Wintz McKeon of Morgan Lewis and Therese Pritchard of Bryan Cave. [WSJ Law Blog]

* Gibson Dunn poached a prominent partner from U.K. firm Ashurst following his fall from grace as its leader last year. He’s thrilled to work for “one of the strongest U.S. firms around.” [Am Law Daily]

* The Thomas Jefferson School of Law may be “California’s worst-performing law school,” but it certainly performs well in terms of providing entertainment for those who are big fans of schadenfreude. [City Journal]

* Many schools pay their grads to count them as employed — but not UNC Law. Its career services office is aware that “jobs don’t grow on trees,” but hey, at least they’re trying to be transparent. [Daily Tar Heel]

Ed. note: This is the latest installment in a series of posts Lateral Link’s team of expert contributors. Larry Latourette is Principal at Lateral Link, focusing exclusively on partner placements with Am Law 200 clients.

As a partner, you may ask, “Why should I work with a recruiter and why should it be you?”

The quick answer is because I can provide material value to you that you can’t obtain any other way. Let me explain, using the experiences of three candidates with whom I recently worked. Each were lawyers in their mid-to-upper thirties, had a book of business in the high six-figure range, and had concluded they wanted to explore other options…

double red triangle arrows Continue reading “Much To Gain And Little To Lose In Working With The Right Recruiter”

Earlier this month, we reported on Bingham McCutchen and Morgan Lewis & Bockius’s agreement to merge. The 750-lawyer Bingham firm has been going through a rough patch lately, so news of the deal with 1,200-lawyer Morgan Lewis sounded like a rescue to some observers.

But rescues come with terms and conditions. What are the ones at issue here? There’s good news for some Bingham partners, and bad news for others….

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