The elevation of Kathleen Sullivan to name partner at Quinn Emanuel symbolized some serious change in the world of Biglaw. Diversity in the partnership ranks is growing. Sullivan is likely Biglaw’s first openly LGBT name partner, and she appears to be the first female to get her name on the door at an AmLaw 100 firm.
We’re vaguely troubled by the title of this WSJ Law Blog post (’cause it makes us think of this). But it does report on a notable move within the legal profession, so we will plow ahead.
From the aforementioned post:
Matthew Gluck is joining Milberg Weiss Bershad & Schulman as a senior partner, marking a significant hire for the plaintiffs’ law firm. Gluck had been a litigation partner at Fried, Frank, Harris, Shriver & Jacobson since 1973….
Milberg Weiss was indicted in May on fraud charges based on allegations that it paid plaintiffs to file cases. It pleaded not guilty and has vowed to fight the charges. Since the indictment, the firm has lost a significant number of partners and associates.
Gluck’s move continues the trend of breaking down the barrier between plaintiffs’ firms and Biglaw. Sometimes Biglaw associates might, after a few years of practice, move over to the plaintiffs’ side; but such moves at the partner level were much less common. Biglaw was Biglaw, plaintiffs’ firms were plaintiffs’ firms, and never the twain shall meet.
This may be changing. Gluck’s move, from Fried Frank to Milberg Weiss, comes not long after former Milberg Weiss name partner Patricia Hynes moved in the opposite direction — from Milberg Weiss to the New York office of Allen & Overy, the defense-oriented British firm.*
So why did Gluck make the move?
Gluck, 64 years old, is a graduate of Harvard Law School and Cornell University. He told the WSJ’s Nathan Koppel he was soon facing retirement age at Fried Frank and wanted a new challenge.
Attempting to turn around a class-action-complaint mill under federal indictment would indeed qualify as a “challenge.” But the undaunted Gluck is surprisingly sanguine about Milberg’s future:
“I don’t know why people have left [the firm] except for panic,” he says. “It doesn’t strike me as rational.”
Not “rational”? Clients defecting enmasse, partners fleeingindroves, courts taking the firm off cases, or refusing to appoint them in new ones… Call us Debbie Downer, but this doesn’t sound too promising.
Even if you question the original decisions of clients, partners, and courts to abandon Milberg in the first instance, here’s the problem: the prophecy of doom has turned self-fulfilling. Does the name “Arthur Andersen” ring a bell? Even though the accounting firm was ultimately vindicated in the Supreme Court, that vindication came too late.
But hey, Matt Gluck’s arrival is undoubtedly a good thing for Milberg. In addition to being an experienced litigator, Gluck has — as noted by Milberg Weiss managing partner Sanford Dumain — “superb credentials in the area of bankruptcy law.”
* Yes, Allen & Overy is one of the “Magic Circle” firms. There, we said it. Now wasn’t that fun? Fried Frank Partner Comes In Through Milberg’s Out Door [WSJ Law Blog] Milberg Gets Fried Frank Veteran [Wall Street Journal] Against Tide, Lawyer Joins Milberg Weiss [New York Times] Matthew Gluck bio [Martindale-Hubbell]
* Litigator Robert Knuts, to Allen & Overy, from Day, Berry & Howard. Knuts was with the New York office of the SEC from 1994 to 2003.
As you may recall, London-based Allen & Overy is trying to build up its New York litigation practice — most recently through the addition of former plaintiffs’-side princess Pat Hynes.
* Private equity lawyer James Kelly, to Nixon Peabody, from O’Melveny & Myers. New Partners:
* Goodwin Procter: corporate and private equity lawyer Edward Braum. NY Partners Switching Firms [NYLawyer.com] NY Lawyers On the Move [NYLawyer.com]
Since it went and got itself indicted, things have been less than peachy-keen over at Milberg Weiss, everyone’s favorite class-action complaint factory. Milberg has lost oodles of prominent partners to other plaintiffs’ firms. And now things are turning downright ugly:
Patricia Hynes, a former name partner of Milberg Weiss, is crossing over to the other side. Starting today, she will be a senior counsel in the New York office of Allen & Overy, an elite, London-based firm that defends companies against securities-fraud litigation, according to a release issued by A&O. “We are desperately trying to build the U.S component of a great firm,” says A&O partner Pamela Rogers Chepiga,* who notes that she used to work with Hynes in the U.S Attorney’s Office in Manhattan.
Yes, that’s right. Pat Hynes — who was a name partner at Milberg, back when it was called Milberg Weiss Bershad Hynes & Lerach — is going to be a defense lawyer in securities class actions.
Congratulations to Hynes for seeing the light — or, at the very least, the fat paycheck that A&O probably dangled before her.
* The legal world is a small one: Pamela Rogers Chepiga is the wife of Simpson Thacher powerhouse partner Michael Chepiga (who also finds time to be a Broadway playwright).
(Disclosure: Back when we were in private practice, Michael Chepiga got mad at us on the telephone — and was entirely in the right. After changing into dry underwear, we called him and left a voice-mail of one thousand apologies.)
Average law school debt for graduates of private universities hovered around $122,000 last year. With only 57% of new attorneys actually obtaining real lawyer jobs, recent graduates have a lot to consider when it comes to managing their student loan payments. Thanks to our friends at SoFi, today’s infographic takes a look at student loan debt, including the possible benefits of refinancing for JDs…
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.
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