Valerie Ford Jacob

Are the pastures greener over at Freshfields?

In case you haven’t noticed, Freshfields has been on a U.S. hiring spree lately. The Magic Circle firm has been making partners disappear from other firms left and right. It recently lured Peter Lyons away from Shearman & Sterling, his longtime professional home. That came on the heels of Freshfields picking up former Wachtell Lipton partner Mitchell Presser and former Skadden Arps partner James Douglas.

Today brings word of more high-profile hires. We’ve learned that three Fried Frank partners — former co-chair Valerie Ford Jacob and two other capital-markets partners, Paul Tropp and Michael Levitt — are decamping for Freshfields. Their bios are all gone from the Fried Frank website. One source of ours called it “a major loss for the firm.”

Is something going on at Fried Frank? It seems the firm has lost a lot of partners lately….

(Please note the UPDATES added to this post, including comment from Fried Frank.)

double red triangle arrows Continue reading “Musical Chairs: Fried Frank Loses A Former Leader To Freshfields”

* Valerie Ford Jacob, leader of Fried Frank since 2003, is stepping down from her post prior to her official 2015 departure date. At least she’s leaving on a high note, with the firm’s highest profits per partner ever. Yay. [WSJ Law Blog (sub. req.)]

* Ralph Lerner, the ex-Sidley Austin partner who billed extra car charges to his clients, claims he went into work on weekends to do work for free to make up for it. Aww, how nice of him. [Am Law Daily]

* When we first covered this in January, it was just a rumor, but now it’s officially set in stone. The deed is done: Buchanan Ingersoll is picking up Tampa firm Fowler White Boggs. [Pittsburgh Business Times]

* Many New York law schools moved in the recent U.S. News rankings, but not necessarily in the right direction. Four out of 15 schools moved up; the rest stayed the same or slipped. [New York Law Journal]

* Would you like damages with that? McDonald’s corporate and its franchisees are facing lawsuits filed by employees over their allegedly “stolen wages.” Class actions have been filed in three states. [Bloomberg]

* Want to know what’s happening at Attorney@Blog today? Check out our Twitter feed! [Attorney@Blog]

The week’s almost over, but we’ve got more bonus news for you. While Sullivan & Cromwell, by matching Cravath, might have dashed your hopes of the bonus market climbing higher, there’s still a chance — probably a one-in-a-million chance — that another very special firm could do it.

In fact, every time an associate says, “I don’t believe in higher bonuses,” there’s a would-be Boies-level bonus someplace that falls down dead.

Were Clifford Chance and Fried Frank daring enough to raise the bonus market? Let’s find out….

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November marks the beginning of the holiday season, and people are brainstorming about what they should be thankful for so they’ll have something thoughtful to say at the Thanksgiving dinner table. We’ve got a suggestion: you should be thankful that you’ve still got a job, because some of your colleagues aren’t so lucky.

Which Biglaw firm offered a significant number of employees a cornucopia of despair yesterday?

double red triangle arrows Continue reading “Nationwide Layoff Watch: Law Firm Spreads Holiday Jeers, Trims Ranks Like Turkey”