I later found out that during this whole period of time… when I was being romanced by Citibank, that they had reason to believe — in fact, they knew — that Howrey was in default of material covenants, and they didn’t tell me that.
– Stephen O’Neal, a former partner of Howrey LLP, in a deposition in his pending litigation against Citibank. O’Neal and another former Howrey partner, David Buoncristiani, allege that Citibank committed fraud by encouraging them to finance their capital contributions with Citi, claiming that Howrey was financially sound when the bank knew Howrey wasn’t.
Alas, many at Howrey found Ruyak’s leadership to be less than inspiring. He was frequently cast as the villain in the demise of the firm, which he led for over a decade before its dissolution. As noted by the WSJ Law Blog, Ruyak was criticized “[i]n some corners of the blogosphere” for “not respond[ing] swiftly enough to declines in the firm’s productivity” and “not sufficiently shar[ing] management responsibilities with his fellow partners.” According to the American Lawyer, he caused the firm to overexpand, taking on too much risk — in the form of lateral partners and contingency cases, among other things — when it should have been buckling down for tough times ahead.
Today brings news that Robert Ruyak has found a new professional home. Where’s he going?
Yesterday we reported on talks last week between Jones Day and key partners in the construction group of Howrey. It appears that the talks have borne fruit.
As reported yesterday by the Daily Journal (subscription), a group of seven Howrey partners — led by prominent construction lawyer Steve O’Neal, former chairman of the now-defunct Thelen law firm — left Howrey this week for Jones Day. The move was confirmed yesterday by Robert Mittelstaedt, the partner in charge of Jones Day’s San Francisco office.
Who are the departing construction-law partners? And which other partners might be leaving Howrey’s California offices?
After all, there are fewer partners for Howrey to lose with each passing day, as the Howrey lawyer diaspora continues to grow. Let’s review the recent activity — and discuss some possible future defections.
Other outlets have noted additional partner departures. K.T. “Sunny” Cherian, described by The Recorder as a “top IP litigation rainmaker” with a book of business worth more than $10 million, joined the San Francisco office of Hogan Lovells this past weekend. Four other partners will join him in soaking up the Ho-Love: John Hamann, Sarah Jalali, Constance Ramos, and Scott Wales (who had been the hiring partner for Howrey’s S.F. office).
Also in S.F., Pillsbury Winthrop picked up IP partner Duane Mathiowetz. The news was reported by the Daily Journal (subscription), which noted that Mathiowetz, who worked as a mechanical engineer for a decade before going into law, has taken five patent cases to trial in the past five years (winning four).
Who might be the next to leave Howrey? Here’s some speculation….
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!
The legal industry is being disrupted at every level by technological advances. While legal tech entrepreneurs and innovators are racing to create a more efficient and productive future, there is widespread indifference on the part of attorneys toward these emerging technologies.
When the LexisNexis Cloud Technology Survey results were reported earlier this year, it showed that attorneys were starting to peer less skeptically into the future, and slowly but surely leaning more toward all the benefits the law cloud has to offer.
Because let’s face it, plenty of attorneys are perhaps a bit too comfortable with their “system” of practice management, which may or may not include neon highlighters, sticky notes, dog-eared file folders, and a word processing program that was last updated when the term “raise the roof” was still de rigueur.