The invisible hand of the market makes fools of us all. No, I am not about to launch into a screed blaming capitalism for all of my woes, I’ll leave that to the PhDs desperately seeking tenure track jobs. The reality remains that the ups and downs of the legal market have a large effect on the rank and file document reviewer.
I’ve written before about the ways regional markets can wreak havoc on contract attorney, but it’s more than just dragging down the hourly wage. Without the benefit of full-time employment, contract attorneys are seen as eminently disposable and are rarely provided with much (or any) notice before a change in their employment status. Projects are scheduled that never start or a month-long project suddenly ends in two days. It can happen at any time, it’s the nature of the business (God, if I had a dollar for every time that annoying trope was trotted out by a staffing agency or project manager to cover for their poor management skills, well, I wouldn’t have to review documents any more). But over time, as long term projects fail to materialize it becomes a reflection of the overall health of that market.
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?
When this lawyer took to the pages of a local industry mag to dispense general advice about depositions, she probably figured she was tossing out some non-controversial observations and maybe boosting her own profile. Hopefully it could drum up some business.
She probably didn’t count on kicking over a hornet’s nest of fellow lawyers, who ripped her advice and went so far as to accuse her of violating local ethics rules.
Hey, there’s no such thing as bad publicity, right?
If the Houston office of Weil Gotshal & Manges ends up shutting down in the wake of the recent partnerdefections, management in New York might not shed a tear. In fact, it might have been part of their master plan.
As one Weil source told us, the Houston litigation defections were “not a surprise,” since the June layoffs “took away all but one assistant and all of the associates. The associates that were allowed to stay were switched to contract positions and have since left. Basically, it was an elimination by New York of the Houston group from the bottom up.”
Dallas, however, is a different story. It’s more of a standalone office, with a more diversified mix of practices, and it makes a bigger contribution to the firm’s bottom line.
But the latest partner departures do raise serious questions about its future. Which Dallas partners just left, and where are they going?
Okay, “drove out” is probably not the right phrasing here, for reasons we’ll explain below. But there’s no denying that people are keenly interested in the drama surrounding the departure of eight Weil partners to Sidley Austin in Dallas.
Let’s take a closer look at the situation, shall we?
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: firstname.lastname@example.org.
Things have changed recently in Korea – a few of our US and UK client firms are looking, very selectively, for a lateral US associate hire. Until just recently, there was not much hiring like this going on in Korea, since US and UK firms started opening offices there. We have already placed two US associates in Korea in the past month at top firms. Most of the hiring partners we work with in Korea do not actively work with other recruiters.
If you are a Korean fluent US associate in London, New York or another major US market, 2nd to 6th year, at a top 20 firm, with cap markets or M&A focus (or mix), or project finance background, and you are interested in lateraling to Korea to a top US or UK firm, please feel free to reach out to us at email@example.com or firstname.lastname@example.org. Our head of Asia, Evan Jowers, was just in Korea recently, and Evan and Robert Kinney will be in Korea in a few weeks. We are in the process of helping several firms open new offices in Korea (a number of which are interviewing our partner level candidates) and also helping existing offices there fill openings.
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