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.)
The evolution of relationships between the genders continues. Currently, in law firms, there is an interesting conundrum; balancing the desire for a gender-blind workplace where “the best lawyer gets the work and advances” and the reality of navigating the complicated maze created by the fact that, in general, men and women do possess differences in their work styles. These variations impact who they work with, how they work, how they build professional connections and how organizations ultimately leverage, reward and recognize the talents of all.
Henry Ford sat on his workbench and sighed. A year earlier, he had personally built 13,000 Model Ts with his own hands. Fashioning lugnuts and tie rods by hand, Ford was loath to ask for help. Sure, there were things about the car that he didn’t quite understand. This explains the lack of reliable navigation systems in the Model T. But Ford persevered because he knew that unless he did everything, he could not reliably call these cars his own.
“Unless my own personal toil is responsible for it, it may as well be called a Hyundai,” Ford remarked at the time.
The preceding may sound unfamiliar because it is categorically untrue. And also monumentally stupid. Henry Ford didn’t build all those cars by hand. He had help and plenty of it. Almost exactly one hundred years ago, Henry Ford opened up the most technologically advanced assembly line the world had ever seen. Built on the premise that work can be chopped up into digestible pieces and completed by many men better than one, the line ushered in an age of unparalleled productivity.
Today, an attorney refers business because he can’t do everything the client asks of him.
There are three reasons why this is way dumber than a made-up Henry Ford story…
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 protected].
Since late last year, things have been booming in Hong Kong / China in cap markets, especially Hong Kong IPOs. M&A deal flow has recently been getting a bit stronger as well. Although one can’t predict such things with any certainty, all signs are pointing to a banner entire 2014 for the top end US corporate and cap markets practices in Hong Kong / China. This is not really new news, as its been the feeling most in the market have had for a few months now and things continue to look good.
The head of our Asia practice, Evan Jowers, has been in Hong Kong for about 10 days a month (with trips every other month to both Shanghai and Bejing) for the past 7 months, and spending most of his time there meeting with senior US hiring partners at just about all the major US and UK firms there, as well as prospective candidates at all associate levels and partner levels, and when in the US, Evan works Asia hours and is regularly on the phone with such persons, as our the other members of our Asia team. Our Yuliya Vinokurova is in Hong Kong every other month and Robert is there about 5 times a year as well. While we have a solid Asia team of recruiters, Evan Jowers will spend at least some time with all of our candidates for Asia position. We have had long standing relationships, and good friendships in some cases, with hiring partners and other senior US partners in Asia for 8 years now.