Lateral Moves

Ed. note: The Aspiring Lateral, a new series from Levenfeld Pearlstein, will analyze a variety of issues surrounding lateral moves, drawing on the firm’s experience in the lateral market as well as the individual experiences of LP attorneys. Today’s post is written by Laura Friedel, a partner in LP’s Labor & Employment practice.

In this column, we’ve been talking about the process of making a lateral move. Everyone knows the major stages of that process: deciding to check out lateral opportunities, evaluating potential new firms, interviewing with those firms, and, eventually, accepting an offer. That’s it. For lateral candidates, landing at a new firm is the endgame, right? Wrong.

The lateral journey does not end when you place the potted plant and picture of your family on your new desk. In a very real way, that’s just when the lateral journey starts. Beginning on their first day with a new firm, laterals who want to be successful need to make a concerted push to win over their new colleagues, one that involves a lot of hard work and time spent getting to know partners.

This may seem a little unfair. After all, by the time a lateral begins working at a new firm, she has been thoroughly vetted, the finances of her practice have been closely examined, and she’s on a first-name basis with several maître d’s due to those never-ending interview lunches. At which point, the lateral may feel an understandable — but mistaken — certainty that upon her arrival, her new partners will be leaping over themselves to herald her arrival and shower her with work…

double red triangle arrows Continue reading “The Aspiring Lateral: Integrating Yourself”

If you’re hiring a lateral partner at this level, then quality is assumed….

If you’re using Bigg & Mediocre, then quality is assumed….

If you’re hiring only from the top ten percent at the top ten schools, then quality is assumed….

Let me start again:

By the time you get to major league baseball, quality is assumed.

Right. But I’d rather have Babe Ruth than a journeyman outfielder.

We instinctively realize that, in every endeavor known to man, there are true superstars. But, when we talk about lawyers, we somehow assume that they’re all fungible. Or, in the examples I just gave, that all the lawyers within a certain rarefied group are fungible. That’s just not true. There’s quality, and then there’s real quality. In the words of Arthur Schopenhauer: “Talent hits a target no one else can hit; genius hits a target no one else can see.” Talent is nice; genius is better.

If you’re with me so far, then you don’t believe that all law firms are created equal; you don’t believe that all lawyers (or partners) within a single firm are created equal; and you understand that many law firms are basically incapable of true quality control….

double red triangle arrows Continue reading “The Degradation Of Law Firm Quality”

Ed. note: This is the latest installment in a series of posts on lateral partner moves from Lateral Link’s team of expert contributors. Today’s post is written by Michael Allen, the Managing Principal of Lateral Link, who focuses exclusively on partner placements with Am Law 200 clients.

Near the entrance of the Calyon Building, the previous headquarters of Dewey & LeBoeuf, lies Jim Dine’s “Looking Toward the Avenue,” a triumvirate of headless statues inspired by the Venus De Milo. Where lie the visages of this homage to the prototypical form of Venus and furthermore, in the aftermath of Dewey, where have the pieces of this former empire landed?

Since May of 2012, there have been numerous articles inciting gossip and foretelling the troubles of Biglaw, but few have offered a retrospective of the overall trends in lateral moves from Dewey since the closure of the firm. The “largest winner” of the Dewey sweepstakes was Winston & Strawn, which added 23 partners (about 11% of those who moved in the final month), including Jeffrey Kessler, a titan of antitrust law who has represented every players’ union in the “big four” sports in the United States. Approximately seventy lawyers followed Kessler’s group.

Which other firms fared well in picking up Dewey lawyers?

double red triangle arrows Continue reading “Where Did Dewey & LeBoeuf’s Big-Name Partners Land?”

Earlier this week, Weil Gotshal reaffirmed its commitment to the Texas legal market. That commitment had been called into question by a spate of partner departures in recent weeks.

It’s worth noting, though, that Weil’s statement focused mainly on Dallas, which is Weil’s largest outpost in Texas. The statement was issued to the Dallas Business Review by Glenn West, Weil’s Dallas managing partner, so the Dallas focus is understandable. But it’s also fair to say that while Weil appears committed to Dallas, its commitment to Houston is weaker.

Indeed, after Houston managing partner John Strasburger recently departed, taking three other partners with him, some of our sources are wondering: Will the Weil office in Houston endure? And if not, who wants to swoop in and fill that gap?

double red triangle arrows Continue reading “Who Will Fill The Weil-Shaped Hole In Houston?”

Don’t mess with Texas — or the presence of Weil Gotshal in that sovereign republic great state. The firm has just announced that it’s deep in the heart of Texas — and staying there.

That’s the latest news from the Weil Weil West — Glenn West, that is, the managing partner of the firm’s Dallas office and a member of the WGM management committee. West just issued a public statement reaffirming the firm’s commitment to the Lone Star State, despite the departures of dozens of lawyers from Weil’s Dallas and Houston offices in recent weeks.

So what does this statement say, and how did it come about?

double red triangle arrows Continue reading “Weil Weil West: Weil Gotshal Reiterates Its Commitment To Texas”

Things have quieted down a bit on the Weil Gotshal front. About a week has passed since our last report on Biglaw’s biggest source of drama.

Today we have some news to share about WGM — information gleaned from partner departure memos out of Dallas, the site of the biggest defections, and a real estate report from New York, the King’s Landing of Weil Gotshal….

double red triangle arrows Continue reading “As The Weil Turns: Insights From Partner Departure Memos”

Ed. note: The Aspiring Lateral, a new series from Levenfeld Pearlstein, will analyze a variety of issues surrounding lateral moves, drawing on the firm’s experience in the lateral market as well as the individual experiences of LP attorneys. Today’s post is written by Rob Romanoff, LP’s Managing Partner.

You’re 35-50 years old. You’re a partner at a large law firm, thinking about leaving for something smaller. You’ve been given an offer by a firm that interests you. The firm has a good reputation, steady business, and a solid practice in your area. It consists mostly of partners over 60 and associates younger than you.

Is this a great opportunity, or a career dead-end? Based on the above, it could be either. You’re missing a fact critical to determining whether this — and many other lateral opportunities — is one worth pursing, or one that should be avoided. That fact is this: what is the firm’s succession plan?

double red triangle arrows Continue reading “The Aspiring Lateral: The Succession Plan”

Last month we wrote about a Biglaw firm that’s in big trouble. The firm in question: Dow Lohnes, a former Am Law 200 firm that has been hemorrhaging lawyers and clients (and lost two more partners last week, to Venable). In our story about Dow Lohnes, we noted that “[i]t seems possible that the firm could merge out of existence — if it’s lucky enough to find a partner.”

Fortunately for the remaining lawyers and staff at Dow Lohnes, the sinking ship has located some lifeboats. A larger and stronger firm, a member of the Am Law 50 and Vault 100, will be picking up many (but not all) of Dow Lohnes’s lawyers.

Who’s the white knight riding to the rescue of Dow Lohnes?

(Note the UPDATES added at the end of this post.)

double red triangle arrows Continue reading “Riding To The Rescue Of A Troubled Law Firm”

Welcome to today’s episode of everyone’s favorite Biglaw drama, As The Weil Turns. Today brings word of another Weil coming off the wagon — specifically, another partner defection.

And no, it’s not in Texas, where Weil Gotshal’s offices — which have lost about 15 partners in the past few weeks — are starting to feel as besieged as the Alamo. It’s up here in the northeast, closer to WGM’s headquarters in New York.

Who is leaving which Weil office?

(Please note the UPDATES added below regarding where this partner is going.)

double red triangle arrows Continue reading “As The Weil Turns: Another Private-Equity Partner Parts Ways”

Oyez, oyez, oyez! It’s the first week of October.

* Say what you will about Justice Scalia, but the man is hilarious — more funny than his four liberal colleagues combined, according to a statistical analysis of oral argument recordings. [New York Times]

* The government shutdown is slowing down the judicial confirmation process, already famous for its speed and efficiency. [The BLT: The Blog of Legal Times]

* More about news for Steven Donziger in his long-running battle with Chevron. Maybe it’s time to surrender, Steve? I hear Ecuador is a great place to retire. [New York Law Journal]

* Law firm merger mania continues, as Carlton Fields combines with Jorden Burt. [Carlton Fields (press release)]

* Herbert Smith Freehills says “you’re hired” to Scott Balber, the lawyer for Donald Trump who got mocked by Bill Maher on national television. [The Lawyer]

* You might see your dog as harmless and cuddly, but the law might see your dog as a weapon (and rightfully so, in my opinion). [New York Times via ABA Journal]

* Congratulations to all the winners of the FT’s Innovative Lawyers awards. [Financial Times]

* And congratulations to Heidi Wendel and Deirdre McEvoy, high-ranking government lawyers headed to Jones Day and Patterson Belknap, respectively. [New York Law Journal]

* Today the Supreme Court will hear argument in McCutcheon v. FEC, a major campaign finance case that some are calling “the next Citizens United.” Check out an interview with one of the lawyers behind it, after the jump. [UCTV]

double red triangle arrows Continue reading “Morning Docket: 10.08.13″

Page 10 of 261...67891011121314...26