Law firm diversity matters. It matters to corporate clients, many of them public companies that want to demonstrate their commitment to diversity through their selection of vendors and service providers — which is what law firms are, at the end of the day. It matters to the law students and lawyers that firms are trying to recruit — which is the premise behind the data collection conducted by Building A Better Legal Profession.
So there should be keen interest in the latest edition of the American Lawyer’s Diversity Scorecard 2011, which the magazine just released. As Am Law explains, the Scorecard constitutes its annual ranking of large law firms by their percentage of minority attorneys and minority partners.
Let’s take a look at the top firms for diversity. Did your firm make the list?
Let’s all take a deep breath. Associate bonus season, which usually wraps up sometime in January, looks like it’s been extended well into April. This is just more proof that Biglaw firms don’t actually collude. No rational business person would want to be making decisions in April 2011 about how much to pay employees for 2010 performance.
For those trying to keep score, there seem to be the following categories of firms (roughly using a letter-grade system):
A – Firms that are paying Cravath-level spring bonuses in all offices. (Example: Cravath.) [FN1]
B – Firms that are paying Sullivan & Cromwell-level spring bonuses in all offices. (Example: S&C.)
C – Firms that are paying spring bonuses in New York but not elsewhere, like California or D.C.. (Example: Read more below.)
D – Firms that are not paying spring bonuses because their year-end bonuses beat the Cravath year-end bonuses, and they’re hoping their associates can’t add. (Example: CHECK YOUQUINN EMANUEL.)
F – Firms that are not paying spring bonuses and invite disgruntled associates to S some D if they don’t like it. (Example: Jones “We can still hear all the poors who live inside your black box” Day.)
Right now, we want to focus on Group C. Group B gets a pass because they started the spring bonus phenomenon and goddamnit we’re going to respect that. Partners at firms in Groups D & F will have to examine their own motives for why they want their associates to secretly hate them.
But Group C is weird. Why create inter-office jealousy and rage when most top firms are paying spring bonuses in all of their offices? Why look that desperate to save a little bit of money?
And you can’t spell “Weird Cost-Cutting” without White & Case…
Two months ago, when spring bonuses were new and fresh and exciting, we reported on spring bonus deliberations at Cadwalader (which eventually matched the market). At the time, I wrote: “If Cadwalader jumps into the spring bonus pool, we’re going to have to start asking questions about Paul Weiss, Willkie Farr, White & Case (don’t laugh), and other well-known New York City firms.”
Well, I’m not here to say “I told you so.” I’m here to say “I was wrong.” It turns out that you are most certainly allowed to laugh. Because White & Case wants to jump into the spring bonus pool without actually telling people if it is matching the spring bonus market. The White & Case “spring bonus” could be a goddamn unlimited MetroCard for all we know. Do the managers at White & Case think they can appear to be paying market compensation without actually paying market compensation?
Earlier this week, we introduced six Washington, D.C. law firm partners chosen by our readers as the best partners to work for. The next six partners we present to you today come from some of the nation’s finest law firms: Gibson Dunn, Kirkland & Ellis, Latham & Watkins, Orrick, White & Case, and Willkie Farr.
For more information about these firms generally, visit the Career Center.
Without further ado, let’s find out who these premier partners are . . .
500 West End Avenue: former home of Tina Fey, until she sold - to a law firm partner.
After suffering through a brutal recession that was fueled, in part, by the collapse of the real estate market, you’d think that nobody would want to read about real estate ever again. But that’s not what’s happening in the blogosphere, where real estate is hotter than ever.
Above the Law readers are similarly obsessed with real estate. Is it because everyone had to take Property as 1Ls? For whatever reason, Lawyerly Lairs is one of our most popular and well-trafficked features. The last installment, a visit to the $4.7 million Chicago townhouse of outgoing Northwestern Law dean David Van Zandt, continues to be a top post (even though it dates back to before Thanksgiving).
So let’s give you more of the real estate porn you want and deserve. In today’s Lawyerly Lairs, focused on ATL’s home city of New York, we look at the recently acquired, envy-inducing residences of partners at three leading law firms: White & Case, Sullivan & Cromwell, and Linklaters.
The first featured residence even has a celebrity connection: the seller was Tina Fey, fabulous television and movie star (and Sarah Palin impersonator)….
Is this part of a larger trend? And will it continue?
“In under a year, White & Case has lost nearly 40 partners, most of whom have the largest books of business in the firm,” according to one source. “Many of the partner departures have been widely covered by the media — e.g., the 13 departures to Latham in London — but many more have been under the radar screen.”
We’ve received divergent opinions, however, on the extent and significance of the partner losses. Some say that many of the partners who left are not major names and have limited books of business, and that 40 is far too high for the number of departures in the past year. According to the Lawshucks Lateral Tracker, at least 28 attorneys have left W&C since October 2009, but we don’t know the number for the trailing 12 months.
Who are some of the other White & Case lawyers that have left for other firms? What are the broader implications of these departures? And what does the firm have to say about all of this?
We’ve written before about partner departures from White & Case. Earlier this month, we discussed the firm’s Palo Alto office, which has recently lost some talent.
The latest partner to leave: patent litigator Jennifer L. Yokoyama, who has accepted an in-house position at Nike. Her departure from W&C is effective April 2.
“We are sorry to lose such a talented young partner in Jennifer,” said Bijal Vakil, executive partner of White & Case’s Palo Alto office. “Nike has a good eye for talent. We wish her and Nike well and look forward to remaining in contact.”
“It is a difficult decision for me to leave White & Case,” said Yokoyama. “It is a great Firm, and the Palo Alto office has an abundance of excellent attorneys and is a wonderful place to work. I could not, however, pass up the opportunity with Nike. It is a dream job for me and one that I could not turn down. I wish my friends and colleagues at White & Case continued success and will miss them dearly.”
Spring! Cherry blossoms, opening day, and pedigreed lawyers uniting in marriage. We’re pleased to be back with another installment of Legal Eagle Wedding Watch, featuring these three impressive couples:
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 six years. You can reach them by email: [email protected].
Since late last year, things have been booming in Hong Kong / China in cap markets, especially Hong Kong IPOs. M&A deal flow has recently been getting a bit stronger as well. Although one can’t predict such things with any certainty, all signs are pointing to a banner entire 2014 for the top end US corporate and cap markets practices in Hong Kong / China. This is not really new news, as its been the feeling most in the market have had for a few months now and things continue to look good.
The head of our Asia practice, Evan Jowers, has been in Hong Kong for about 10 days a month (with trips every other month to both Shanghai and Bejing) for the past 7 months (Robert Kinney and Evan Jowers will be in Hong Kong again March 15 to 23), and spending most of his time there meeting with senior US hiring partners at just about all the major US and UK firms there, as well as prospective candidates at all associate levels and partner levels, and when in the US, Evan works Asia hours and is regularly on the phone with such persons, as our the other members of our Asia team. Our Yuliya Vinokurova is in Hong Kong every other month and Robert is there about 5 times a year as well. While we have a solid Asia team of recruiters, Evan Jowers will spend at least some time with all of our candidates for Asia position. We have had long standing relationships, and good friendships in some cases, with hiring partners and other senior US partners in Asia for 8 years now.
Are you challenged by the costs and logistics of maintaining your office, distracting you from the practice of law?
Many small firms are successfully moving part—or even all—of their practice to a virtual setting. This even includes multi-jurisdictional practice spanning several states and practice areas, although solo and small partnerships are still the largest adopters of virtual law.
Can you do the same? The new article Mobile in Practice, Virtual by Design from author Jared Correia, Esq., explores how mobile technology bring real-life benefits to a small law firm. Read this new article—the next in Thomson Reuters’ Independent Thinking series for small firms—to explore how a mobile practice:
Everyone is talking about the importance of Social Media in Corporate America. But it is relatively safe to say that most law firms and lawyers are slightly behind the social curve. Most lawyers, at minimum, use LinkedIn, for networking. Some even use Twitter for pushing out short, pithy content, while many have Blogs, where they write their little hearts out. The adage “it is better to give than to receive” is not always true though in the world of Social. In the Social World – it is best to listen, give back and engage.
Social Media is a communications tool that can deeply educate you about the needs and wants of your clients and prospects when used in conjunction social media monitoring and sharing tools.
Take this quick quiz and see if you know how to use Social to help you engage more with your clients or to better service the ones you have.