Mike Allen

In our last report on the beleaguered Bingham McCutchen, we predicted that its partners would vote in favor of the proposed merger with Morgan Lewis — even if some of them might get de-equitized as a result. Why? Because “it’s not clear that Bingham has better options.”

Talk about understatement. Maybe this is fearmongering to get Bingham partners to approve the deal, but check out what management is saying might happen if this deal doesn’t go through….

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Michael Allen

Ed. note: This is the latest installment in a series of posts Lateral Link’s team of expert contributors. Michael Allen is Managing Principal at Lateral Link, focusing exclusively on partner placements with Am Law 200 clients.

Every week I hear both good and bad stories about legal recruiters from both associates and partners.

From strong regional names like Alan Miles and Kay Hoppe, to larger international firms like MLA Global and Lateral Link, we all share some common practices, but also operate very differently with our clients and candidates.

There are quite a few names I won’t mention, who regularly garner the attention from partners and associates for questionable recruiter practices.

In a practice that involves highly confidential matters, it is important to chose a recruiter that is servicing your needs and not their own. I compiled a list of six telltale signs your recruiter may not be prioritizing your interests in your search for a new firm.

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Michael Allen

Ed. note: This is the latest installment in a series of posts Lateral Link’s team of expert contributors. Michael Allen is Managing Principal at Lateral Link, focusing exclusively on partner placements with Am Law 200 clients.

The stories about Biglaw over the past five years have been grim, but a closer inspection shows that despite a cacophony of daily doomsday stories from The New Republic, the Wisconsin Law Review, The Atlantic and other publications of varying quality, the future of Biglaw looks promising.

The size of modern-day, Am Law 100 firms allows them to downsize or expand as the market conditions dictate, but as a profession of perception, firms have to handle RIFs with care. Partners and clients might go next door if they doubt the capabilities of the firm. I have worked with partners before who moved simply because the perception of their firm’s stability was questioned by their clients….

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Michael Allen

Ed. note: This is the latest installment in a series of posts Lateral Link’s team of expert contributors. Michael Allen is Managing Principal at Lateral Link, focusing exclusively on partner placements with Am Law 200 clients.

A legal recruiter is very similar to a partner at an Am Law 200 law firm in terms of compensation and day-to-day routine, but without the billable hour. Both get paid based on their book of business (i.e., eat what you kill) and maintain a stable of relationships that help them bring in business.

My colleagues and I started out as attorneys at Am Law 200 firms, including several who were partners, such as Larry Latourette (formerly Managing Partner of Preston Gates, D.C. office), Victoria Holstein-Childress (formerly a partner at Troutman Sanders), Ed Wisneski (formerly a partner at Patton Boggs), and Holly Moetell (formerly a partner at Shaw Pittman), just to name a few. Through nearly ten years of legal recruiting experience, I have found that recruiting is not only personally rewarding, but also very lucrative if you have a fire in your belly. Between the compensation, hours, collaborative atmosphere, and meaningful work, legal recruiting offers the same upside as partnership with a law firm but without the billable-hour requirement.

Here are my top five reasons for considering legal recruiting.

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

There are some common ethical issues every partner should know, or at least be able to identify what they don’t know, when planning for a lateral transition.

Most partners do not give ethical considerations enough attention in the process. Without proper planning, partners may breach fiduciary duties to their prior firms and create unnecessary conflicts between their former and new firms.

I asked Trisha Rich, a professional responsibility attorney who practices with Holland & Knight’s Lawyer Ethics, Risk Management and Regulation team, to respond to some of the most common ethical questions I have come across while moving partners and groups between law firms…

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

For senior associates up for partner, firms have become increasingly focused on business potential and less so on an associate’s ability to outclass others in the courtroom or at the negotiating table.

In the days of yore, the partner track in Biglaw was oftentimes a reward for consistent competence and professionalism. In an era of PPP and RPL, most firms (other than the Cravath, Quinn, or Simpson Thacher types) are less likely to promote associates unless they see real revenue-generating potential.

If you find yourself in your fifth to tenth year and are unsure whether you will make partner, here are four steps to help you steer your career…

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

Of the roughly 36,000 partners in Biglaw, roughly 6,800 (18.8%) of them are within a few years of or have surpassed (and then some) the mandatory retirement age. Lawyers 55 or older make up about 1/3 of the practicing partners in the Am Law 200, a figure that will likely hold steady as the tail end of the baby boomer generation ages. Am Law 200 law firms have on average about 34 chairs, executive members, and senior partners whose 35-plus years of experience, client relationships, and leadership must be transferred to a new generation of rising stars. The process is hardly ever smooth and often involuntary.

Most partners in senior vintages begrudge the practice of mandatory retirement; some bemoan that it is an overcautious safeguard or the epitome of ageism. Some claim the practice is supported by scientific studies that link cognitive decline with advancing age — especially after 65, which is about the average for mandatory retirement. However, with advancing medical standards the idea of being forced to retire at 65 may soon seem ludicrous, but for now, how many law firms are prepared to deal with the void left by these partners?

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

A law firm’s compensation model for partners is oftentimes as mysterious as the disappearance of D.B. Cooper, but the payoff for solving this mystery is many times more rewarding.

When partners look for new firms, they generally have a shortlist of expectations, such as good culture, strong practices and platforms, stable finances without too much debt, stellar reputations, and last but certainly not least, healthy compensation.

There is a common misconception I observe with junior partners. Many of them assume that the compensation for their book of business will scale linearly from firm to firm…

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

Two weeks ago I brought you the Men’s Biglaw All-Star Team of 2014, and now without further ado, here are the Women’s Biglaw All-Stars of 2014.

These superlative attorneys — in conjunction with a vast array of equally deserving attorneys — have sparked the march towards equity in Biglaw partnership…

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

It’s that time of year folks: the dust has settled, the remainder of last year’s major moves have been executed, and it is time to vote for the Biglaw All-Stars of 2014.

To save you trouble, I have already assembled two teams, which we divide between a Western and Eastern Conference — brace yourself for a plethora of mixed metaphors.

With a lot of research, personal experiences, and a smidgen of subjectivity, I have compiled two teams of five lawyers with spots for two corporate lawyers, one intellectual property lawyer, one real estate lawyer, and one litigation lawyer. These lawyers lead significant groups at their respective firms.

Each team will represent one fictional company together: a massive mega-conglomerate high-tech real estate company that would make Mr. Heller and Ms. Erhman shiver in their boots. This fictional mega-conglomerate company requires the representation of five “starting” lawyers: two corporate, one IP, one litigation, and one real estate…

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