Sarkis Jebejian

As the old saying goes, the best defense is a good offense. The exceedingly prestigious and profitable Kirkland & Ellis, which has seen some partner defections in the past few months, seems to be taking that lesson to heart.

Kirkland recently launched in the hot legal market of Houston — by poaching a promising young partner from a competitor. Which super-elite firm did K&E just raid for talent?

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Earlier this month, we asked: What’s Going On At Kirkland & Ellis? Some observers wondered whether K&E, arguably the nation’s best overall law firm, was experiencing an unusually high number of prominent partner departures.

We received some interesting responses from Kirkland sources, some defending the firm and some more critical. Let’s hear what these readers had to share with us….

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Ted Ullyot

* Given the name and origins of the Tea Party movement, it actually makes perfect sense that their groups got grief from the IRS. [Washington Post]

* Wachtell Lipton weighs in against the practice of shareholder activists offering special compensation to director nominees. [Dealbook / New York Times]

* A law professor, Joshua Silverstein, argues that schools should embrace grade inflation. (But haven’t most of them done this already?) [WSJ Law Blog]

* Facebook shareholders might not “like” this news, but Ted Ullyot plans to step down as general counsel after about five years. We’ll have more on this later. [Corporate Counsel]

* The Brooklyn DA’s office is reopening 50 murder cases that were worked on by retired detective Louis Scarcella (who looks oh-so-savory in the NYT’s photo of him). [New York Times]

* In news that should shock no one, Nicholas Speath’s dubious discrimination case against Georgetown Law has been dismissed. [The BLT: The Blog of Legal Times]

* Not long after leaving Cravath for Kirkland, Sarkis Jebejian is putting together billion-dollar deals for private-equity clients. [Am Law Daily]

* Professor Jeffrey Rosen reviews an interesting new book, The Federalist Society (affiliate link), authored by Michael Avery and Danielle McLaughlin. [New York Times]

Cravath partners enjoy discounts at Subway, among other perquisites.

It’s rare for partners to leave Cravath, given the prestige, pay, and perks associated with partnership at the firm. And it’s especially rare for a Cravath partner to leave for a rival firm, as opposed to a Wall Street investment bank or major corporation.

Cravath has a very specific system for running itself, and that system has served Cravath very well over the years. As its competitors expend increasing amounts of effort to climb the prestige hierarchy and expand across the globe, Cravath remains at the top, serenely servicing its clients — and printing money for its partners. Part of the reason why Cravath so rarely loses partners to other firms is that it’s so profitable overall that even a partner being paid under Cravath’s lockstep system still does better than a “star” partner at many other firms.

So that’s why today’s news is so notable. A prominent young partner at Cravath has decided to leave Worldwide Plaza and take his talents across town.

Who is the partner in question, and where is he headed?

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