At more senior levels, however, Davis Polk is evolving. Under managing partner Tom Reid, the firm is increasingly focused on the bottom line. It’s adding lateral partner talent, which it historically hasn’t done very often, and it’s asking more from its existing partners in terms of business development (and subjecting some less productive partners to, shall we say, heightened scrutiny). It’s offering buyouts — rather generous ones, it should be noted — to reduce the ranks of support staff (and the associated expenses).
The old Davis Polk, prioritizing prettiness and peacefulness over profits, might have quickly and quietly settled a lawsuit with a recruiter, without regard to the legal merits, just to avoid the ugliness. The new Davis Polk, in contrast, won’t go down without a fight….
* Edward Snowden, the computer technician who leaked details on the programs the NSA didn’t want you to know about, sacrificed his life to save your privacy’s soul. Thanks a bunch, Technology Jesus! [CNN]
* While we wait for Fisher, DOMA, and Prop 8, if you’d like some background info on the people behind the most controversial and talked about SCOTUS cases of the term, give this one a read. [NBC News]
* If a justice claims he’s never met a homosexual and he’s got a gay law clerk, telling him to “look around [his] chambers” to find one is the NKI. My, how times have changed since the mid-80s. [New York Times]
* In 2012, Justice Sotomayor earned $1.9 million in royalties from her memoir, My Beloved World (affiliate link). Yeah, her world is probably so beloved because she’s rolling around in money. [Blog of Legal Times]
* Howrey going to make use of this empty wall space? If you’re in the market for some art, this bankrupt firm’s decor will be up for auction in D.C. later this week. [Bankruptcy Beat / Wall Street Journal]
* When you’re dealing with the most beautiful people in Biglaw, the price for pretty is high: Davis Polk was slapped with a million-dollar lawsuit over a recruiter’s fee. [Thomson Reuters News & Insight]
* Gerald Shargel, criminal defense attorney to the Mafia stars, is retiring his shingle to join Winston & Strawn. Biglaw better keep him entertained — he gets bored easily. [DealBook / New York Times]
* Cory Booker, one of everyone’s favorite Yale Law School grads, announced his candidacy for a New Jersey Senate seat over the weekend. Best of luck in the special election! [The Note / ABC News]
* The feds are seeking a four-year sentence for former Rep. Jesse Jackson Jr. in his campaign funds misuse case. No MJ memorabilia is worth prison time, no matter how big a fan you are. [The Hill]
* “[I]f you ever call me on my cellphone again, I’ll strangle you.” Yikes. Looks like this Kentucky judge won’t have the chance to wring his hands around lawyers’ necks any time soon. [Courier-Journal]
* NALP is becoming the harbinger of doom for law practice. Here’s some cheerful news: the percentage of female associates in Biglaw dropped for the third year in a row. Perhaps they’re going the way of the Clifford Chance mommy. [National Law Journal]
* Biglaw hotties are coming to a continent near you! Davis Polk & Wardell will be adding a litigation practice to its existing shop in Hong Kong, and they managed to poach two big name Clifford Chance litigators in the process. [DealBook / New York Times]
* According to the ACC, in 2012, base salaries for general counsel rose 1.9 percent, while cash bonuses dropped 7.9 percent. But really, who’s going to complain about a six-figure bonus? [Corporate Counsel]
* A Delaware jury ruled that Apple infringed on several patents in a mobile-device technologies case filed by MobileMedia Ideas. Somewhere, Samsung’s bigwigs are laughing their asses off. [WSJ Law Blog (sub. req.)]
* A woman was arrested in Spain for trying to smuggle in cocaine from Colombia. Seems pretty standard, except for the fact that she was hiding the coke in brand new breast implants — three pounds of it! [CNN]
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Take this opportunity to learn what it takes to streamline your accounting and get the most out of your time. The webinar agenda:
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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.
Please note that Evan Jowers and Robert Kinney are still in Hong Kong and will stay FOR THE REMAINDER OF THIS WEEK. We still have a handful of available slots for meetings with our Asia Chronicles fans. If we have not been in touch lately, reach out and let us know when we could meet! There is no need for an agenda at all. Most of our in-person meetings on these trips are with folks who understand that improving a legal practice through lateral hiring is an information-driven process that takes time to handle correctly.
Regarding trends in lateral US associate hiring in Hong Kong, we of course keep much of what we know off of this blog. Based on placement revenue, though, Kinney is having one of our most successful years ever in Asia. We are helping a number of our law firm clients with M&A, fund formation, cap markets, project finance, FCPA and disputes openings. These are very specific needs in many cases, so a conversation with us before jumping in may be helpful. As always, we like to be sure to get the maximum number of interviews per submission, using a well-informed, highly targeted, and selective approach, taking into account short, medium and long-term career aims.
Making a well informed decision during a job search is easier said than done – the information we provide comes from 10 years of being the market leader in US attorney placements at the top tier firms in Asia. There is no substitute for having known a hiring partner since he/she was an associate or for having helped a partner grow his or her practice from zip to zooming, and this is happily where we stand today – with years of background information on just about every relevant person in all the markets we serve, and most especially in Hong Kong/China/Greater Asia. So get in touch and get a download from us this week if we can fit it in, or soon in any case!