[A] focus on profit undermines the differences between the practice of law being a profession rather than solely a business. It is easy to anticipate the assertion that we choose not to report aggregate annual average profit numbers because they are not as high as some other firms. But that assertion simply assumes that the way things have been done in the past is the way they should be done in the future.
When we last checked in with SNR Denton back in May, the firm had just finished wiping its hands of a potential merger with Dewey, right before the failed firm’s LeBoeuf was officially cooked. But from what we know, SNR had the urge to merge with another firm since at least February. The firm’s desire to seduce another suitor has gone unsatisfied for almost a year, but it now appears that SNR Denton may finally have the chance to get its rocks off.
Today, we’ve got news that the firm plans to get down with not one, but two firms. Ooh la la! Which firms is SNR Denton wooing, and when is the merger set to take place, if approved? Let’s check out the details on this potential ménage à trois….
Sonnenschein isn’t going to let the recession slow down its expansion. Back during the heart of the recession, Sonnenschein saved around 100 lawyers from the sinking Thacher Proffitt.
Today brings news that Sonnenschein has expanded its reach across the Atlantic Ocean. The firm has proposed a merger with U.K.-based Denton Wilde, to form SNR Denton. From the new firm’s press release:
SNR Denton would be a top 25 law firm worldwide by size, with approximately 1,400 lawyers and fee earners on four continents, a presence in 18 countries, and its two largest offices in London and New York…
SNR Chairman Elliott Portnoy, who will become co-CEO of SNR Denton, said: “This combination is the next step in our vision to create an elite, client-focused international firm that is about one thing – quality. Both firms have long enjoyed reputations as being world class, and now together we’ll have the assets and professional resources to carry that forward to new sectors, new practices, and new markets. As one firm, we will be able to serve our clients better.”
‘Tis the season for transatlantic mergers? The Sonnenschein news comes on the heels of Ho-Love (a.k.a. Hogan Lovells) beginning operations…
The legal industry is being disrupted at every level by technological advances. While legal tech entrepreneurs and innovators are racing to create a more efficient and productive future, there is widespread indifference on the part of attorneys toward these emerging technologies.
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.
We at Kinney Asia have made a number of FCPA / White Collar US associate placements in Hong Kong / China thus far in 2014. Most of such placements have been commercial litigation associates from major US markets, fluent in Mandarin, switching to FCPA / White Collar litigation. Some have already had FCPA experience, but those are difficult candidates for firms to find (this will change in coming years as US firms are now promoting FCPA / White Collar to their 2L summers who are fluent in Mandarin and have an interest in transferring to China at some point).
Legal Week quoted Kinney’s Head of Asia, Evan Jowers, extensively in the following relevant article here.
There is a new trend in the market, though, where mid-level transactional US associates, fluent in spoken Mandarin and written Chinese, are interviewing for and in some cases landing junior FCPA / White Collar spots in Hong Kong / China at very top tier US firms.
When the LexisNexis Cloud Technology Survey results were reported earlier this year, it showed that attorneys were starting to peer less skeptically into the future, and slowly but surely leaning more toward all the benefits the law cloud has to offer.
Because let’s face it, plenty of attorneys are perhaps a bit too comfortable with their “system” of practice management, which may or may not include neon highlighters, sticky notes, dog-eared file folders, and a word processing program that was last updated when the term “raise the roof” was still de rigueur.