As we recently mentioned, our view is “better late than never” when it comes to bonus news. With this in mind, we are pleased to bring you the bonus announcement of Willkie Farr — which came out in December.
Given Willkie Farr’s status as a top New York law firm, you can probably guess what they did in terms of bonuses….
But it’s not an entirely bad thing. Instead of losing talent to a rival law firm, Willkie is losing talent to a top client. Bloomberg LP has decided to beef up its in-house presence, and it’s doing it with a boatload of Willkie attorneys.
Is this a good thing for Willkie? The firm will remain Bloomberg’s outside counsel, but there could be much less work coming from the client.
And Willkie did feel the need to send an email to all their people to make sure nobody freaked out….
Earlier this week, two more partners announced their imminent departures from OMM: Ilan Nissan, former firmwide co-chair of the firm’s M&A and private equity practice, and Christian Nugent, also an M&A partner. Like several of the other O’Melveny defectors, Nissan and Nugent arrived at OMM’s New York office via O’Sullivan Graev & Karabell, the highly regarded corporate boutique that O’Melveny absorbed in 2002, in an effort to build its NYC transactional practice.
Nissan and Nugent will be joining the New York office of Dewey & LeBoeuf. A spokesperson for Dewey confirmed the news to ATL. (A spokesperson for O’Melveny declined to comment.)
In addition, readers brought to our attention two O’Melveny partner departures from this year that didn’t appear in our earlier list. Let’s take a look….
LEWW is back, plus one more adorable kid and minus a lot of sleep. Prime wedding season is nearly upon us, but today our task is to get you caught up on some of the nuptial fabulosity that occurred in our absence.
(And by the way, if you missed the NYT’s December feature on the bride and groom who met at their kids’ nursery school and left their spouses to be together — and the whole should-we-celebrate-infidelity uproar that ensued — get your fill here. Good stuff.)
Ed. note: Gabe Acevedo will be covering LegalTech for Above the Law this year. If you are interested in communicating with someone from ATL about LegalTech coverage, please contact Gabe at firstname.lastname@example.org. Thanks.
The pregame show for LegalTech New York 2011 has been in full swing the last few weeks. Vendors and their PR reps have been constantly reaching out via emails, text messages, phone calls, and smoke signals, to contact industry experts, “thought leaders,” law firm decision makers, members of the media, and, perhaps most importantly, knuckleheads like me. All are doing their best to generate “buzz” before they announce their new products, alliances, services — fill in the blank as you see fit — at the conference.
Don’t get me wrong; I am sure Gabriel Buigas will give an excellent speech. But the real action will begin at 10 AM, when the doors to the exhibit hall open. That is when all hell breaks loose, and hundreds of technology vendors will be eagerly waiting to share with you the great news about their respective companies.
With that as a backdrop, here is some of what I expect to see at this year’s LegalTech….
The memo is just coming in now, but the news is not shocking. Willkie Farr has decided to match the Cravath bonus scale, continuing the trend of everybody mindlessly doing whatever Cravath tells them to do.
The bonuses will be paid on December 17th, so Willkie associates will still have some time to put the bonus towards holiday shopping.
The American Lawyer just released its annual summer associate job survey. Back in the day, law students paid a lot of attention to how summers before them enjoyed their summer associate experience. Of course, back in the day the summer associate experience used to be a 12-week-long recruiting event.
Now, it’s a 12 (or 10, or 8) week job interview. And the stress of that showed up in the summer associate surveys.
But despite a difficult job market, some summers still found time to bitch about the lack of lavish recruiting lunches. And Am Law looked at all the surveys and came up with a ranking of the top summer program.
Let’s take a look at the best (and the whiniest) summer programs…
We’ve gotten away from plowing through the latest Vault Rankings, but fear not. Your firm is coming up soon.
We’ve been through the top 30 firms. But now we’re getting into a group of firms that really utilized the cost-cutting measures of salary cuts and layoffs to weather the recession of 2009. Did these guys take a big prestige hit? Not really. Here’s the next batch of firms:
At the end of the summer, Willkie Farr & Gallagher told offerees that they would be able to start at the firm on time, in the fall of 2010. It turns out that Willkie’s promise wasn’t something intelligent law students should have relied on. Here’s the email that went out to the summer class, yesterday:
Hope everyone is enjoying this summer-like weather. We are looking forward to your return and wanted to provide you with details about arrival date, salary advance and other important matters.
Orientation Date: The orientation date for the new associate class is Wednesday, January 5th.
Salary Advance: The Firm offers a salary advance for all incoming associates. You have the option of receiving up to $20,000 (payable in any month from June to October) as an advance on your first year salary. The amount advanced will be deducted from your salary over a period of one year. If you are interested in taking an advance, please complete the attached form and return it to me.
What a breezy, matter-of-fact email communicating that you don’t intend to keep your promises. But associates headed to Willkie weren’t bothered by the tone. The substance, now that pissed them off…
When Chintan Panchal decided to leave a global BigLaw partnership to start his own firm, he could only hope that he would face the high-quality problem of firm building that many had cautioned him about. Focused on the uncertainty surrounding of a new firm launch, he decided to tackle staffing needs, IT challenges, and financial planning requirements after he had built up his legal practice.
Panchal Associates LLP–a corporate/finance and outside general counsel boutique–was quickly off to a great start. Clients and matters were flying in the door, and Chintan soon had a team of lawyers and staff with a variety of operational needs. To continue building an excellent team and provide them with a competitive benefits package, to expand his physical presence to include a European practice and additional partners, and to scale his operations and IT capabilities to support this growing enterprise brought with it demands of time, money, and expertise. Chintan knew he needed help.
“With the assistance of NexFirm, we have upgraded the capabilities of our firm to meet, and in some cases exceed, the standards we were used to at our former BigLaw firms. Operationally, we can now attract and service clients we didn’t have the bandwidth to support in the past, and continue to build our team with the best and brightest legal talent in the industry,” said Chintan Panchal, adding “It has worked out quite well in our case; NexFirm is an essential partner for us.”
The holiday season is upon us, and yet again, you have no idea what to get for the fickle lawyer in your life. We’re here to help. Even if your bonus check hasn’t arrived yet, any one of the gifts we’ve highlighted here could be a worthy substitute until your employer decides to make it rain.
We’ve got an eclectic selection for you to choose from, so settle in by that stack of documents yet to be reviewed and dig in…
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@example.com.
We currently have a very exciting and rare type of in-house opening in China at one of the world’s leading internet and social media companies. Our client is looking for an IP Transactional / TMT / Licensing attorney with 2 to 6 years experience. The new hire will be based in Shenzhen or Shanghai. Mandarin is not required (deal documentation will be in English) but is preferred. A solid reason to be in China and a commitment to that market is required of course. This new hire will likely be US qualified (but could also be qualified in UK or other jurisdictions) and with experience and training at a top law firm’s IP transactional / TMT practice and could be currently at a law firm or in-house. Qualified candidates currently Asia based, Europe based or US based will be considered. The new hire’s supervisors in this technology transactions in-house team are very well regarded US trained IP transactional lawyers, with substantial experience at Silicon Valley firms. The culture and atmosphere in this in-house group and the company in general is entrepreneurial, team oriented, and the work is cutting edge, even for a cutting edge industry. The upside of being in an important strategic in-house position in this fast growing and world leading internet company is of the “sky is the limit” variety. Its a very exciting place to be in China for a rising IP transactional lawyer in our opinion, for many reasons beyond the basic info we can share here in this ad / post. This is a special A+ opportunity.
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