* Judge sentences rapist to 45-days and community service… working in a rape crisis center. Because the victim was “promiscuous.” How could anyone be this tone-deaf? Oh, it’s in Texas? Never mind. [CNN]
* California lawyers now must promise to be courteous. Play nice, kids. [LA Times]
* Finally, it’s time to wish a happy birthday to Winston & Strawn’s Jonathan Amoona, who was on the 2014 Forbes 30 Under 30 list. I guess he won’t be anymore. His 30th birthday invitation went out to the managing partner and a bunch of the top rainmakers, which isn’t toolish at all. The invite is available after the jump….
Mary Jo White? More like Mary Jo Green. President Obama’s pick to lead the Securities and Exchange Commission is deliciously rich, as revealed in her financial disclosures.
Although she’s barely five feet tall, making her a little litigatrix, Mary Jo White wears big shoes. In the words of my colleague Elie Mystal, a former Debevoise & Plimpton associate, she’s “one of those alpha dog partners…. the kind of partner that makes other partners stammer, shuffle papers, and try to look really busy and intelligent when she’s in the room.”
The sizable net worth of Mary Jo White shouldn’t surprise anyone. Not only is she a longtime Debevoise partner, but her husband, John W. White, has been a partner at Cravath, Swaine & Moore for more than 25 years (interrupted from 2006 through 2008 by a stint at the SEC, actually, where he served as Director of the Division of Corporation Finance).
It looks like a silly marginal tax increase on the personal incomes of the top 2 percent is the last thing the barons of Wall Street need to worry about. President Obama is sending a new sheriff into the regulatory fray.
Dealbook reports that Obama will nominate former U.S. Attorney Mary Jo White to head the Securities and Exchange Commission. Sending in White to the SEC is a little bit like calling the Wolf to drive home your blood-soaked vehicle. It’s a bold move for an agency that is often overwhelmed by the impressive lawyers marshaled on behalf of the financial industry in defense of their most complex transactions.
Unlike Elizabeth Warren (bless her heart), Mary Jo White is no academic, she’s a hard-nosed litigator. And she might be exactly what the SEC needs…
Debevoise & Plimpton has long been among New York’s most prestigious law firms. It’s also widely viewed as an excellent place to work.
In the past, Debevoise’s prestige has arguably outpaced its profits. It’s often ranked more highly on the Vault 100 than on the Am Law 100 (when ranked by profits per partner). In the most recent rankings, Debevoise was #13 on the Vault 100 and #20 on the Am Law 100 by PPP.
Perhaps that’s about to change. From Legal Week (via Law.com):
Debevoise & Plimpton has unveiled stellar financial results for 2007, with the New York law firm seeing both partner profits and fees climb by more than 20 percent over the last 12 months.
Profits per equity partner (PEP) at Debevoise rose by 26.5 percent from $1.81 million last year to a new high of $2.29 million. Global revenue, meanwhile, was up by 23.4 percent from $575 million in 2006 to $709.54 million.
A source who passed along this news added: “Although not mentioned in the article, several large investigations are the driving force behind these numbers.”
Of course, that’s not surprising. Thanks in large part to former U.S. Attorney Mary Jo White, internal investigations have long been a mainstay of Debevoise’s practice. They’re long-running and lucrative, since no company in deep doo-doo wants to look like it’s skimping on self-scrutiny. See, e.g., Siemens (aka Debevoise cash cow).
But how much cash will they get to keep? Discussion of a new tax proposal that will disproportionately affect partners at large law firms, after the jump.
Jiminy jillickers! ATL editors are going all over the place over the next month or so. Or at least all over the Eastern Seaboard. If we aren’t heading to your neck of the woods on these trips, never fear, we may hit you up on the next time around. We’ve already hit up Houston, Chicago, Seattle, San Francisco, and Los Angeles in the past year.
Kinney Recruiting’sEvan Jowers is currently in Hong Kong for client meetings and still has a few slots available through October 22. Evan will also be in Hong Kong November 14 to December 15. Further, Robert Kinney has been in Frankfurt and Munich this week and is available for meetings with our Germany based readers.
One of our key law firm clients has referred us to one of their important clients in the US, Europe and China – a leading global technology supplier for the auto industry – in order to handle their search for a new Asia General Counsel and Asia Chief Compliance Officer.
Kinney is exclusively handling this in-house search.
This position will have a lot of responsibility and include supervision of eight attorneys underneath them in the Asia in-house team. The new hire will report directly to the global general counsel and global chief compliance officer, who is based in the US. The new hire’s ability to make judgement calls is going to be as important as their technical skill set background.
The position is based in Shanghai and will deal with the company’s operations all over Asia and also in India, including frequent acquisitions in the region.
It is expected that the new hire will come from a top US firm’s Shanghai, Beijing or Hong Kong offices, currently in a top flight corporate practice at the senior associate, counsel or partner level. Of course, the candidate can be currently in a relevant in-house role.
The JOBS Act created new tools for companies to publicly advertise securities deals online. As a result, thousands of new deals have hit the market and hundreds of millions in capital has been raised, spurring a wealth of new business development opportunities for attorneys.
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