Rumors are hitting the fan. Partners at Heller Ehrman received information on Baker & McKenzie. The info reportedly did not include any mention of a merger. Both firms are not talking, but they are also not denying. If the two firms did join forces, it could possibly create the largest US firm with a turnover of about $2.5 bn.
Source: www.nylawyer.com
Only three UK firms have made the cut for the top 10 global law firms in terms of Profits per equity partner (PEP), seen by data compiled by both Legal Week and The American Lawyer. Slaughter and May, Linklaters and Freshfields Bruckhaus Deringer are the lucky few. Seven U.S. firm s made the list, including Wachtell Lipton Rosen & Katz who took the No. 1 slot. with a whopping 4.945 million PEP. Cravath Swaine & Moore takes second place with 3.300 million PEP. The honor of highest revenue was taken by the firm Clifford Chance with 2.660 million, followed by Linklaters with 2.589 million. This placement has not chanced from last year. Freshfields, on the other hand, has climbed two rungs to make it to third place with 2.358 million.
Source: www.legalweek.com
Finally a L.A. Law firm is given first place of American Lawyer magazine’s A-List. For the past five years, since the beginning of A-List, New York had held the No. 1 spot. NY’s Debevoise & Plimpton has held the honor of being the best for four years. It’s finally Los Angeles’ turn, and more specifically, Munger, Tolles & Olson’s turn. The firm owes this win to its commitment to pro bono work (3,200 hours more than last year), its 11% increase of revenue per lawyer, associate satisfaction, diversity,
Source: www.latimes.com
Tags: Los Angeles
Jones Day has hired Joe Bauerschmidt for its Hong Kong office. Bauerschmidt concentrates his practice on securities offerings and has represented both internatioanl banks and corporate entities. Bauerschmidt previously worked at Milbank, Tweed, Hadley & McCloy. Jones Day has many branches in Asia including in: Beijing, Hong Kong, Shanghai Singapore, Taipei and Tokyo.
Source: www.asia.legalbusinessonline.com
Tags: Jones Day | Hong Kong
Shook, Hardy & Bacon have launched a program in response to their employees’ concerns of high cost commuting. The firm already allots each employee a $50 monthly allowance for commuting. With the new “SHB Commuters Program”, employees have the ability to receive $25-$45 more if they participate in a less expensive mode of transportation than driving. They are urged to carpooling, use mass transit, cycle, or walk.
Source: www.legaltimes.typepad.com
Tags: Shook, Hardy & Bacon LLP
Cozen O’Connor has not only renewed the lease at their Lower Manhattan office, but has also expanded. The firm has added another firm, encompassing 13,000 square feet. The rent is $53 per square foot. The office resides in the Broadway Atrium, located at 45 Broadway.
Source: www.costar.com
Tags: Cozen O'Connor, P.C.
Skadden Arps Slate Meagher & Flom remains at the top of the list of law firm deal-meisters. Next in line, Sullivan & Cromwell, has narrowed the gap, however. Skadden advised corporate mergers worth about $361.2 billion, six of which were ranked in the ten biggest deals of 2008. Sullivan & Cromwell trails closely with $346.7 billion dollars worth of deals.
Source: www.abajournal.com
Tags: Skadden, Arps, Slate, Meagher & Flom LLP
Hunton & Williams has been busy. The firm won over 8 employment lawyers from Akin Gump and is launching an office in San Francisco. Of the 8, four are partners, and four are associates. Laura Franze, joining co-chair of the employment group, will work out of Los Angeles and Dallas. Roland Juarez will also join the Los Angeles office. The San Francisco office will be led by poached partner, Fraser McAlpine, who will also be based out of Houston. Also in San Franisco, Brett Burns joins as partner, and Anna Suh as associate. Justin Smith, Richard Cortez and Jennifer Reith, all associates, will join the Dallas office.
Source: www.thelawyer.com
Tags: Hunton Andrews Kurth LLP | Houston
Kirkpatrick & Lockhart Preston Gates Ellis has officially changed their name to K&L Gates. It is unclear who had continued to call them by their former name, and in effect, for whom this change was made. The name/firm was created when the following two firms merged: Kirpatrick & Lockhart Nicholson Graham and Preston Gates & Ellis
Source: www.pittsburghlive.com
Tags: K&L Gates LLPThe Washington DC-based law firm of Hogan & Hartson has announced it will open an office in Abu Dhabi, which will be its first office in the Middle East. Heading up the new office will be Ray Batla from Hogan’s London office. The move to Abu Dhabi will allow the firm to work more closely will its current Middle Eastern clients and will also open opportunities for growth in the area.
Source: www.thelawyer.com
Tags: Dubai