Despite the recession, Venable was able to basically maintain its financial numbers. Gross revenue and revenue per lawyer each increased by less than one percent. Profits per equity partner rose 2 percent. This may be to due to two acts: Venable laid off 16 lawyers and 48 staff in March last year, and the firm lowered salaries by 8 percent.
Source: www.legaltimes.typepad.com
Tags: Venable LLP
Two sources claim that Latham & Watkins has snagged four partners from Vinson & Elkins. Three of them will be stationed in the firm’s new Houston office. Those are as follows: William Finnegan IV, Brett Braden, Charles Timothy Fenn. Partner Charles Carpenter will join the New York office. They are all to join their respective offices in March or April. Latham’s Houston office opened its doors a month ago.
Source: www.amlawdaily.typepad.com
Tags: Latham & Watkins LLP | Houston
Fried, Frank, Harris, Shriver & Jacobson has just hired a mergers and acquisitions partner for its New York office. Steven Epstein is leaving O’Melveny & Myers for the opportunity with Fried, Frank. He joined O’Melveny in 2005 and became partner in 2007. Looks like Fried, Frank is anticipating a surge in M&A work in 2010!
Source: www.nylj.com
Tags: O'Melveny & Myers, LLP | New York
Winston & Strawn has recently sent a memo to its attorneys entailing two pieces of news. One is that it would appear that raises will be given sometime in the near future. The other is the fact that the amounts of the raises are still a mystery (in the minds of the associates). Winston & Strawn has just killed off the firm’s lockstep salary system. The memo explains that each associate will be capable of earning up to the maximum amount in the compensation level given to them.
Source: www.abovethelaw.com
Tags: Winston & Strawn LLP
Arent Fox LLP has just hired Harry Johnson III as a partner in its Los Angeles office. Johnson focuses his practice on employment litigation, specifically wage-hour complex litigation and traditional labor. He joins from Jones Day.
Source: www.jdjournal.com
Tags: ArentFox Schiff LLP | Los Angeles
Kilpatrick Stockton has hired two new attorneys in Washington. Pail Pilecki and Michael Mancusi are joining the firm’s Financial Institutions team. Both were previously with Winston & Strawn.
Source: www.lawfuel.com
Tags: Kilpatrick Townsend & Stockton LLP
Greenberg Traurig remained fairly financially steady in 2009. Profits per equity partner increased by a mere 0.15 percent landing at $1.311 million. Non-equity parnter profits jumped up 3.94 percent. Greenberg’s total revenue, however, decreased by 2.9 percent making $1.17 billion.
Source: www.amlawdaily.typepad.com
Tags: Greenberg Traurig, LLP
Shearman & Sterling managed to increase profits per equity partner (PPP) by 4.2 percent, but revenue dipped by 8.6 percent in 2009. Despite the fact that the firm did not lay off any associates, its associate number declined by 6.7 percent. Shearman’s explanation is that half of the incoming class (50 associates) and 40 senior associates agreed to one year sabbaticals in exchange for $65,000 and medical benefits.
Source: www.law.com
Tags: Shearman & Sterling LLPLinklaters has lost its only partner who was only qualified in the US. Steve Thierbach was integral to establishing the firm’s US corporate and securities practice based in London. Thierbach spent the last 15 years with Linklaters. He joined Linklaters from Sullivan & Cromwell.
Source: www.thelawyer.com
Novak Druce + Quigg LLP has hired Katherine Basile for its San Francisco office. Basile joins the firm as a partner and as co-chair of the trademark group. She was previously a partner at Howrey since 2000.
Source: www.businesswire.com
Tags: Novak Druce Connolly Bove + Quigg LLP