Sometimes, firm publicists need to understand that it’s more about shoulda than coulda. Sure, you could put your entirely capable but not necessarily media-trained new chairperson in front of a camera to film an awkward welcome video, but that doesn’t mean you should. The buzzword-driven types probably shouted “New Media!” and “Video is the Future!” or some such and cajoled this lawyer in front of the camera.
What we ended up with are some of the worst line readings since Attack of the Clones….
In case you haven’t noticed, Freshfields has been on a U.S. hiring spree lately. The Magic Circle firm has been making partners disappear from other firms left and right. It recently lured Peter Lyons away from Shearman & Sterling, his longtime professional home. That came on the heels of Freshfields picking up former Wachtell Lipton partner Mitchell Presser and former Skadden Arps partner James Douglas.
Today brings word of more high-profile hires. We’ve learned that three Fried Frank partners — former co-chair Valerie Ford Jacob and two other capital-markets partners, Paul Tropp and Michael Levitt — are decamping for Freshfields. Their bios are all gone from the Fried Frank website. One source of ours called it “a major loss for the firm.”
Is something going on at Fried Frank? It seems the firm has lost a lot of partners lately….
(Please note the UPDATES added to this post, including comment from Fried Frank.)
Size matters, and to be successful today you really have to be in that Am Law 50.
– Alan Levin, managing partner of Edwards Wildman, commenting on the importance of being viewed as a “tier 1″ law firm in the overall Biglaw hierarchy. Levin identified possible merger partners by commissioning a study to separate firms into “tier 1″ and “tier 2″ groupings. Locke Lord was considered a “tier 1″ firm, and Levin will become vice chair of Locke Lord Edwards if the merger goes through.
I’m sitting in a Vancouver, BC coffee shop with Gerry Riskin, author of the Amazing Firms, Amazing Practices blog. We’re talking about leadership and the differing mindsets of lawyers and business people. Our conversation was prompted by Gerry’s mindset slide:
I can relate. Early in my legal career, I worked with lawyers in leadership roles who wore this mindset like body armor. They did not inspire. They did not act in ways that moved people closer to a common goal. They often left a bad wake. They lacked awareness. They were not good leaders….
Here at Above the Law, we love ourselves a good departure memo. If a great one makes its way into your inbox, please feel free to send our way.
People write departure memos so they can frame their farewells — explain why they’re leaving, provide their new contact information, and thank the people who need to be thanked. But what about if a partner — a managing partner, no less, and one involved in a summer associate scandal from a few years ago — just quits without explanation?
In that case, the remaining members of management write her departure memo for her. And oh what a departure memo….
Major law firms select their leaders in different ways. Some have a committee of partners do the picking, for example, while others have the outgoing leader designate her successor.
Rank-and-file partners often have little to no say in the selection. And, perhaps because the process is frequently run by a small group of people at the top, it doesn’t often come with much public drama. Yes, some firm leadership struggles boast intrigue worthy of Game of Thrones, but it’s generally kept under wraps.
At one prominent law firm, though, the entire partnership selects the managing partner in a firm-wide vote. This year’s election was contested — and not everyone is happy with the results….
As we’ve mentioned before in these pages, lawyers as a group are highly susceptible to addiction. The rate of alcoholism among lawyers may be twice as high as it is among the general population. If you think you or a colleague might have a substance abuse problem, try reaching out to a Lawyer Assistance Program for help.
Alcohol problems afflict the high and the low. As for the high, let’s tell you about a managing partner who needs to manage his drinking….
Jiminy jillickers! ATL editors are going all over the place over the next month or so. Or at least all over the Eastern Seaboard. If we aren’t heading to your neck of the woods on these trips, never fear, we may hit you up on the next time around. We’ve already hit up Houston, Chicago, Seattle, San Francisco, and Los Angeles in the past year.
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.
The JOBS Act created new tools for companies to publicly advertise securities deals online. As a result, thousands of new deals have hit the market and hundreds of millions in capital has been raised, spurring a wealth of new business development opportunities for attorneys.
Fund deals, startup capital raises, PIPE deals and loan syndicates are just a handful of the transactions benefiting from the JOBS Act. InvestorID FirmTM is a platform designed to help attorneys equip their clients with the workflow, marketing and compliance tools to publicly solicit a securities offering online. By providing clients with the tools to painlessly navigate the regulatory landscape of general solicitation, InvestorID FirmTM helps attorneys add value above just legal services.
The Jumpstart Our Business Startups Act (JOBS Act) went into effect in 2013 and permits Regulation D offerings of securities to be advertised publicly. This means that funds and companies can now use social media, emails and web sites to market transactions to new “accredited” investors.
However, with these new powers come new pain points. InvestorID FirmTM provides a secure, fully hosted, cloud-based platform with a breadth of tools for your clients, including: