Ed. note: This is the latest installment of The ATL Interrogatories. This recurring feature will give notable law firm partners an opportunity to share insights and experiences about the legal profession and careers in law, as well as about their firms and themselves.
Jim Maiwurm, chair and global CEO of Squire Sanders, has more than 30 years of experience as a business and transactional lawyer. His work involves the representation of a diverse range of businesses — from technology startups to Fortune 50 manufacturers — in private equity infusions, public offerings and sophisticated domestic and international acquisitions, dispositions, financings and joint ventures.
Voted ‘Mr. Congeniality’ by a panel of Biglaw partners.
The best competitions reward the winner with something related to their skill. If you win American Idol, you get a recording contract. On Project Runway, you get a clothing line. In the Hunger Games, you get to be alive.
Tying the tested skills to the ultimate reward is a concept so strikingly obvious that even we at Above the Law grasped the concept. In 2008, we held a competition among writers, which we called ATL Idol, and we hired the guy who won.
At Case Western Reserve University School of Law, the Career Development Office has announced a “Job Idol” competition, to determine which lucky Case Western Spartan has the chops to earn a law firm job.
We had a similar competition when I went to school. It was called “Early Interview Week,” and the top 98 percent of competitors won a job.
So what do the winners get at Case Western? We have the official advertisement for the competition.
Is lateral partner hiring a game of musical chairs that law firms can’t win? Anecdotes about unsuccessful lateral hires abound. You hear stories about high-profile partners moving from Firm A to Firm B, often lured by huge guarantees, only to leave Firm B a few years later, after failing to integrate or deliver the expected business.
And some of the most successful firms in all the land, places with immense prestige and sky-high profits, do very little lateral hiring. Their refusal to engage in the lateral market hasn’t seemed to hurt them.
When it comes to lateral hiring, should firms “just say no”? Well, that’s not what’s actually happening in the marketplace. Last year, lateral partner hiring climbed, suggesting that it must be working out — at least for some firms….
We talk a lot here on Above the Law about the difficulties attorneys have in finding a work-life balance. Often Biglaw life becomes all work, all the time. Or sometimes, burned out attorneys run in the other direction entirely and open a bike shop, but it rarely feels like there is a viable in-between.
I’m inclined to say that if you have a passion, you should go for it, no matter what other people think. Lawyers should be allowed to wear different hats. Sometimes that means allegedly showing off your new boobs to co-workers. Sometimes it means making rap music.
And in one Ohio attorney’s case, it means writing, directing, producing, and starring in epically bizarre, Camelot-inspired heavy metal videos….
Peter Crossley of Hammonds and James Maiwurm of Squire Sanders
A hot trend for the law firm world in 2010: transatlantic mergers. This year we’ve seen the creation of Hogan Lovells, from Hogan & Hartson and Lovells, and SNR Denton, from Sonnenschein and Denton Wilde. Today we learn of a third U.S./U.K. law firm merger: the combination of Squire, Sanders & Dempsey and the British firm of Hammonds, to form a behemoth with 1,275 lawyers in 37 offices and 17 countries (according to the merged firm’s new website).
The merger was approved by both partnerships over the weekend and will take effect on January 1, 2011. The combined entity will be in the top 25 firms by number of lawyers, with gross revenue of $625 million (based on 2009 figures).
As you may recall, not everyone was a fan of this merger. The famously outspoken John Quinn of Quinn Emanuel, for example, characterized it as “[t]wo rocks that think if they hug each other tight enough they won’t sink.”
But enough of the Debbie Downer sentiments. Let’s look at all the positive aspects of this transaction, shall we?
Professor Joel P. Trachtman has developed a unique, practical guide to help lawyers analyze, argue, and write effectively.
The Tools of Argument: How the Best Lawyers Think, Argue, and Win is a highly readable 200-page book, available for about $10 in paperback or e-book. Chapters focus on foundational principles in legal argument: procedure, interpretation of contracts and statutes, use of evidence, and more. The material covered is taught only implicitly in law school. Yet, when up-and-coming attorneys master these straightforward tools, they will think and argue like the best lawyers.
For most attorneys, time spent managing the books is a necessary evil at best. Yet it is undeniably a crucial aspect of running a successful practice. With that in mind, we invite you to view or download a free webinar by Above the Law and our friends at Clio to learn how to better manage your finances.
Take this opportunity to learn what it takes to streamline your accounting and get the most out of your time. The webinar agenda:
● The basics of accounting for lawyers.
● How legal accounting differs from regular accounting.
● Report and reconciliation issues surrounding trust accounts.
● How to pick and integrate the best accounting tools for your practice.
● Steps to prepare your tax return for your firm’s income.
Do not miss this crucial chance to optimize your accounting practices. Save time and get back to billing!
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: email@example.com.
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!