Lateral Link

Ed. note: This is the latest installment in a new series of posts on lateral partner moves from Lateral Link’s team of expert contributors. Today’s post is written by Michael Allen, the Managing Principal of Lateral Link, who focuses exclusively on partner placements with Am Law 200 clients.

From Q3 2012 through Q2 2013, we have seen approximately 7,500 lateral moves at the top 200 law firms. Approximately 4,500 (60%) were associates; 1,900 (25%) were partners; and perhaps most surprisingly, 1,100 (15%) of the lateral movement consisted of “counsel” or “of counsel” positions.

To clarify, some firms promote their senior associates to a “counsel” position based on seniority, but even excluding this pool of associates, that still leaves a significant number of counsel-level laterals finding opportunities within new law firms. From April 2012 to the end of the second quarter this year, Gordon & Rees had the largest number of lateral counsel transitions, with 34 (in large part due to the fact they opened seven offices in 2012 alone). Seyfarth Shaw, Greenberg Traurig, and Wilson, Elser, Moskowitz, Edelman & Dicker followed closely with 26, 23, and 22 counsel placements, respectively. Notably, Quinn Emanuel Urquhart & Sullivan had 11 counsel transitions in that same timeframe, 8 of them from a group of more than 15 Skadden Arps product liability attorneys who followed colleagues Sheila Birnbaum and Mark Cheffo, two heavyweights in the product liability world….

double red triangle arrows Continue reading “The Of-Counsel Carousel”

Ed. note: This is the latest installment in a new series of posts on lateral partner moves from Lateral Link’s team of expert contributors. Today’s post is written by Michael Allen, the Managing Principal of Lateral Link, who focuses exclusively on partner placements with Am Law 200 clients.

An intriguing demographic dilemma is approaching a powerhouse law firm, Jones Day, as several senior partners and chairs are straddling the mandatory retirement age. The firm currently has over eight partners — including numerous practice leaders and partners in charge — above their proclaimed mandatory retirement age, and over ten partners nearing the cutoff, which probably signals that Jones Day gives some partners a pass when it comes to retirement. For example, Mark Sisitsky, Hugh R. Whiting, and Bob Mittelstaedt, just to name a few, are all very respectable partners who are refining with vintage.

Jones Day generally restocks from within by promoting partners in the first quarter each year. In 2013, the firm internally promoted 29 partners in the first quarter, each with an average of 12.5 years of experience. Although Jones Day is five months away from the next round of promotions, Lateral Link has identified around fifty associates who are in the running for a partner promotion (although only a handful will ultimately get the nod). We have an idea who fits in both categories and have been fairly accurate in our projections from the past….

double red triangle arrows Continue reading “Jones Day: Mandatory Retirement For Big Hitters Creates Opportunity For Others”

Ed. note: This is the latest installment in a new series of posts on lateral partner moves from Lateral Link’s team of expert contributors. Today’s post is written by Michael Allen, the Managing Principal of Lateral Link, who focuses exclusively on partner placements with Am Law 200 clients.

Patton Boggs, the preeminent Washington-based lobbying law firm, is reeling from a slew of recent events, hinging upon their multi-million dollar litigation with Chevron. In 2010, the firm released a memo entitled “Invictus,” proudly proclaiming their new endeavor: the representation of Ecuador in a long-contested battle over Texaco’s culpability in creating nearly one thousand pits of oil in the jungles of Ecuador — a liability Chevron inherited when it purchased Texaco in 2000 for $36 billion.

But Patton Boggs’s plan to quickly enforce a settlement soon became more challenging than anticipated. Playing hardball, Chevron has continuously called Patton Boggs’s bluffs…

double red triangle arrows Continue reading “Litigation Problems at Patton Boggs Lead To Lateral Leakage”

Ed. note: This is the first installment in a new series of posts on lateral partner moves from Lateral Link’s team of expert contributors. Today’s post is written by Michael Allen, the Managing Principal of Lateral Link, who focuses exclusively on partner placements with Am Law 200 clients.

BuckleySandler LLP landed a big fish in Los Angeles. With the firm’s recent hiring of Richard Gottlieb, a well-known class action defense litigator, and Fredrick Levin, a class action and securities litigator, the partners confirm that BuckleySandler’s Los Angeles office (and soon-to-be-opened Chicago office) are serious contenders in the quest for lateral partners. Gottlieb is a heavy hitter in the consumer finance and mortgage class action space, and he developed a very significant book of business with a national client base.

The deal is unique on several levels…

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Lateral Link has a fantastic, unique, and VERY RARE opportunity for a CEO position with one of the country’s largest real estate companies.

This position requires Hebrew fluency (or near fluency) and extensive experience in real estate management, finance, and sales and acquisitions, as well as previous corporate management experience. If you have 5+ years experience in the real estate fields described above, Hebrew fluency, and corporate management experience, this job could be for you.

Position: Chief Executive Officer (CEO)

Location: South Florida

Description: Leading real estate company is looking for a Chief Executive Officer with 5+ years of sophisticated real estate experience, including management of large scale residential properties, real estate finance, and real estate sales and acquisitions. This position requires Hebrew fluency (or near fluency) and previous corporate management experience.

Legal experience is very helpful but not required.

If you are a Lateral Link member, please see position #14993 on the Lateral Link site. If you are not a Lateral Link member, you can sign up for free at www.laterallink.com. If you are interested in this position or any other of our great positions in Florida, Atlanta or other parts of the Southeast, please contact Scott Hodes directly at shodes@laterallink.com.

Ed. note: This is the latest in a series of posts on partner issues from Lateral Link’s team of expert contributors. This post was written by Tricia McGrath, Senior Director at Lateral Link, who works with partner and associate candidates on law firm searches, most often in the New York, California, and Washington, D.C. regions.

When a firm is considering a lateral partner candidate, the firm will perform due diligence on the candidate. The firm will be interested in reviewing materials such as a partner business plan and a lateral partner questionnaire, and will investigate and evaluate the partner and their practice. It is equally important for a lateral partner candidate to conduct his or her own due diligence on a prospective firm. As an equity partner, you will become part owner in a “business,” and should verify that there will be an appropriate return on your investment of time, energy, skill, and capital.

Of course, neither the firm nor the partner can ascertain with 100% certainty that a lateral relationship will work. However, appropriate due diligence can minimize the risk of failure, as important facts are revealed and future expectations can be managed. While there are many areas in which you’d like insight, three top concerns are (1) the firm’s financials, (2) the firm’s management, and (3) the firm’s culture….

double red triangle arrows Continue reading “Partners in Practice: Due Diligence For Lateral Partner Candidates”

Happy New Year from your ATL editors: David Lat, Staci Zaretsky, and Elie Mystal.

We were pleasantly surprised by how many of you seemed to be interested in the pictures from our New Year’s party, and because we’re gluttons for punishment, we’ve decided to give you some more of what you want. And this time, you’ll have the opportunity to offer your delightful insights and commentary on our pictures.

So without further ado, we present to you some additional party pics for your viewing pleasure….

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Your ATL editors: David Lat, Staci Zaretsky, and Elie Mystal.

Thanks a lot to everyone who came out on Wednesday night to attend the Above the Law New Year’s party!

The festivities were well-attended, and the bar was full of action — no seriously, there may or may not have been a couple making out the whole night. Thanks to our sponsor, Lateral Link, for such a great evening.

Yeah yeah, we know, it’s the internet, so of course this post is “WWOP.” So let’s get some pics up in here….

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We keep telling our readers to sign up for our New Year’s party, but since we know that some of you are professional slackers and procrastinators, we’re giving you one more chance to do so. Come hang out with all of your favorite Above the Law editors, say hello to some of our columnists, and most importantly, enjoy our open bar!

The Above the Law New Year’s party will be held on Wednesday, January 16, at a secret location in NYC to be disclosed later. This exclusive shindig is generously sponsored by Lateral Link, the fastest growing legal search firm with twelve offices in the United States and Asia. Only with us will you get the true VIP experience lawyers deserve.

Please keep in mind that you must sign up to be placed on our exclusive guest list. We’ll let you know if you make the cut and provide details on the venue via email. Good luck, and we hope to see you there!

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Lateral Link’s clients include Am Law 200 law firms, specialty boutiques, and corporate in-house departments. The company places hundreds of candidates annually with its in-house and law firm clients, making more placements than any others search firm of its size. In fact, in 2012, Lateral Link had a record year, and was able to promote 11 recruiters — five new Principals, five new Senior Directors, and one new Managing Director. You can register with Lateral Link here.

Lateral Link had a record year in 2012. We promoted eleven recruiters — five new Principals, five new Senior Directors, and one new Managing Director. Given our existing client base, we are hiring Directors for our Partner Group in all major markets to assist with partner level recruiting for Am Law 200 and regional boutiques.

Lateral Link is a leading global legal recruiting firm with twelve (12) offices in the United States and Asia. We have immediate openings in our New York, Chicago, San Francisco, and Dallas offices for a Director-level recruiters to focus on partner search. This is a unique opportunity to leverage an existing client base while joining our team of experienced recruiters, including Larry Latourette (HLS ’82), former managing partner of the Preston Gates, DC office and partner recruiter with over a decade of experience, who manages our partner recruiting practice.

Why Lateral Link? Continue reading to learn more….

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