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@example.com.
Our advice to any Mandarin speaking 2L summer associate who is interested in a future transfer or lateral US associate move to Hong Kong / China: It’s not just about corporate and other transactional practices any more. If you are more interested in litigation than transactional, don’t hesitate to choose litigation or a litigation-related practice area. There is a sharply growing need at top US firms in Hong Kong / China for laterals and transfers in US litigation (mostly FCPA / White Collar work), Anti-Trust, and Disputes / Arbitration. This is not just a trend, it’s a permanent change on the landscape. We find it exciting that Mandarin speaking JDs now have more options to choose from in positioning themselves for a future Hong Kong / China move. Feel free to contact us at firstname.lastname@example.org if you are a summer associate interested in Asia and have any questions about choosing a practice. It can be one of the biggest decisions you make in your career and yet one usually made without much analysis. Also, feel free to contact us if you are an associate interested in joining an FCPA / White Collar practice or Disputes practice in Asia. We have made numerous such placements in the past few years and a number of our candidates are interviewing for FCPA / White Collar positions at present in Asia.
* Federal judges still have financial allegiances to their former firms that are reported on their mandatory annual disclosures. At least one appellate judge — Jay Bybee of the Ninth Circuit — made a killing after confirmation. [National Law Journal]
* After “a challenging 2013,” Bingham McCutchen is leaking lawyers like a sieve. Fourteen attorneys, including nine partners, recently decided to leave the firm, and they’re all headed to different Biglaw locales. [WSJ Law Blog via Reuters]
* Just one day after Donald Sterling was declared “mentally incapacitated,” he filed a lawsuit against the NBA, seeking more than $1 billion in damages. Skadden lawyers are stripping off their warm-up suits to take it to the court. [USA Today]
* This Am Law 200 firm thinks it figured out a way to help women combine their careers and home lives — by hiring a role model/mentor with an almost six-figure salary. Good idea or bad? [Dallas Morning News]
* We’ve got some breaking news for our readers from the “no sh*t” department: Law schools are competing to cut costs based on a shrinking applicant pool, but tuition is still quite unaffordable. [Houston Chronicle]
* Lewis Katz, co-owner of the Philadelphia Inquirer and alumnus of Dickinson Law, RIP. [Onward State]
* Congrats are in order for David Barron. The Harvard Law professor was confirmed to the First Circuit in a close vote (53-45), despite his apparent allegiance to our new drone overlords. [WSJ Law Blog]
* Another one bites the dust: Weil’s London banking leader Stephen Lucas decamped for Kirkland & Ellis. The firm retorted by saying: “We have got 40 finance lawyers left.” Aww, yay for you. [The Lawyer]
* Dean Jack Boger of UNC Law is stepping down, but he’s proud of keeping legal ed affordable. “[B]y relative standards, we’re still doing that,” he said. It’s ~$39K for out-of-state students. [Chapelboro.com]
* O.J. Simpson’s lawyers submitted a gigantic legal doc in an attempt to get him a new trial for his armed-robbery case. Court word limit: 14,000. Words in the Juice’s motion: 19,993. Rules: LOL. [NBC News]
Ed. note: This is the latest installment in a series of posts on lateral partner moves from Lateral Link’s team of expert contributors. Michael Allen is Managing Principal at Lateral Link, focusing exclusively on partner placements with Am Law 200 clients.
Junior associates who weathered the worst of the recession are seeing a break in the clouds. Although the overall rate of lateral attorney hiring in 2014 is roughly on pace with — if not a little behind — last year, the market for junior associates has skyrocketed. According to some reports, the hiring of associates with between 1-3 years’ experience increased by 180% compared to the same period last year. Curiously, while the market for junior associates grew, the market for more senior associates (4-6 years experience) fell 17.6%.
This is not simply a case of fleet-footed Millennials creating new demand. Using Lateral Link’s state-of-the-art job database (which is free to all members), the search firm has tracked aggregate firm demand (as demonstrated by public job postings as well as non-public exclusive searches) for associates, partners, counsels, and in-house attorneys by experience, practice area, region, and other criteria. The tracking showed that searches for junior associates have increased by 50%…
It’s springtime in D.C., and we all know what that means. No, we’re not talking about the cherry blossoms; that was last month. We’re talking about the spinning of the revolving door.
We have some interesting moves to mention taking place in the nation’s capital. One top government lawyer is returning to private practice; one top Biglaw partner is going back to government, perhaps for good; and one major law firm, potentially party to a high-profile merger, is losing some partners to a rival — after holding them prisoner for a while….
Ed. note: This is the latest installment in a series of posts on lateral moves from Lateral Link’s team of expert contributors. Kristina Marlow is a Director with Lateral Link’s D.C. office who brings almost 20 years of experience in the Washington legal market to her work with associate and partner candidates. Prior to joining Lateral Link, Kristina spent a decade at Gibson Dunn, first as a litigation associate and then as the D.C. office’s hiring manager. A Michigan native, Kristina earned her J.D., cum laude, from Georgetown University Law Center’s evening program and a B.A. in Journalism from Michigan State University, where she was named “Outstanding Senior.” She also worked as an appellate clerk, as an economic analyst for the federal government, and as a reporter for the Chicago Tribune.
The job seeker had done (almost) everything right: Graduated with honors from a top law school, clerked for an appellate court, practiced at an “A-List” firm, and then went to a government agency to top off his experience and make him partnership material. Imagine his shock when I advised him that landing a general litigation position in Biglaw now that he was 12 years out of law school would be tough without a book of business. After all, he had seen the “revolving door” in Washington; how could it be shut now, he wondered? I conceded that many attorneys in D.C. do move with ease between government and private practice, but that the ones he read about in the Washington Post were high-level officials who firms know will bring in business. “And I’m just a worker bee,” he acknowledged….
Today I continue to address some of the questions that I have received from you by email. Once again, I note that these are simply my personal views on the questions presented.
1. How do law firms assess job moves on a résumé, particularly when the moves were dictated by life circumstances (such as the need to follow a spouse into a secondary legal market)?
There is an unspoken belief amongst many recruitment professionals that a candidate who has moved around too often is a problematic candidate. Whether this is true or not, recruitment professionals view a fifth-year candidate who has already been at three firms as easily discontented. The thought then becomes — why would this candidate be happy at our firm? How are we any different than his or her previous employers? While candidates are often able to explain their moves (e.g., personal circumstances), recruiters then question the depth of experience that a candidate has had to date. Is a candidate who has stayed at one firm for five years more experienced that a fifth-year associate who has moved firms three times? In my experience, employers always favor the former candidate. Partners like loyalty and depth of experience, be it actual or perceived.
2. How long after graduation should an associate remain at a less than ideal job in a secondary market before submitting a résumé to a Biglaw firm in a more desirable location, such as New York or Chicago?
The Houston legal market is hot — and a lot of the heat is being generated by Kirkland & Ellis. As we reported last month, K&E recently launched a Houston office with talent poached from a rival.
Kirkland hired Andrew Calder away from Simpson Thacher, for a reported $5 million a year for the next three-plus years. We’ve heard that these figures are a bit high — that he’s hitting the $5 million mark in his first year, thanks to a signing bonus, but not guaranteed at that level for the subsequent years — but there’s no denying that he’s being paid very, very well.
And there’s no denying that K&E will pay what it takes to break into the Houston market. Who’s the latest up-and-coming young partner to get invited into the Kirkland club?
The courtroom battle between Alexandra Marchuk and the litigation boutique where she once worked, Faruqi & Faruqi, rages on. As longtime readers will recall, Marchuk alleges that F&F partner Juan Monteverde sexually harassed her, in severe fashion, and that the firm’s leaders ignored his alleged misdeeds.
But no matter who wins in court, it’s possible to argue that the firm is ending up the loser. It has endured extensive bad publicity, and some of the resulting instability has apparently led to lawyer departures.
Who are the latest attorneys to defect from Faruqi & Faruqi?
Professor Joel P. Trachtman (JD Harvard Law School) has developed a unique, practical guide to help lawyers analyze, argue, and write effectively.
The Tools of Argument: How the Best Lawyers Think, Argue, and Win is a highly readable 200-page book, available for about $10 in paperback or e-book. Chapters focus on foundational principles in legal argument: procedure, interpretation of contracts and statutes, use of evidence, and more. The material covered is taught only implicitly in law school. Yet, when up-and-coming attorneys master these straightforward tools, they will think and argue like the best lawyers.
For most attorneys, time spent managing the books is a necessary evil at best. Yet it is undeniably a crucial aspect of running a successful practice. With that in mind, we invite you to view or download a free webinar by Above the Law and our friends at Clio to learn how to better manage your finances.
Take this opportunity to learn what it takes to streamline your accounting and get the most out of your time. The webinar agenda:
● The basics of accounting for lawyers.
● How legal accounting differs from regular accounting.
● Report and reconciliation issues surrounding trust accounts.
● How to pick and integrate the best accounting tools for your practice.
● Steps to prepare your tax return for your firm’s income.
Do not miss this crucial chance to optimize your accounting practices. Save time and get back to billing!
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 seven years. You can reach them by email: email@example.com.
Please note that Evan Jowers and Robert Kinney are still in Hong Kong and will stay FOR THE REMAINDER OF THIS WEEK. We still have a handful of available slots for meetings with our Asia Chronicles fans. If we have not been in touch lately, reach out and let us know when we could meet! There is no need for an agenda at all. Most of our in-person meetings on these trips are with folks who understand that improving a legal practice through lateral hiring is an information-driven process that takes time to handle correctly.
Regarding trends in lateral US associate hiring in Hong Kong, we of course keep much of what we know off of this blog. Based on placement revenue, though, Kinney is having one of our most successful years ever in Asia. We are helping a number of our law firm clients with M&A, fund formation, cap markets, project finance, FCPA and disputes openings. These are very specific needs in many cases, so a conversation with us before jumping in may be helpful. As always, we like to be sure to get the maximum number of interviews per submission, using a well-informed, highly targeted, and selective approach, taking into account short, medium and long-term career aims.
Making a well informed decision during a job search is easier said than done – the information we provide comes from 10 years of being the market leader in US attorney placements at the top tier firms in Asia. There is no substitute for having known a hiring partner since he/she was an associate or for having helped a partner grow his or her practice from zip to zooming, and this is happily where we stand today – with years of background information on just about every relevant person in all the markets we serve, and most especially in Hong Kong/China/Greater Asia. So get in touch and get a download from us this week if we can fit it in, or soon in any case!