Paul, Weiss, Rifkind, Wharton & Garrison have announced the firm’s 2009 financial numbers. Overall revenue dropped 3.8 percent, but profits per equity partner rose from $2.65 million in 2008 to $2.69 million in 2009. This was achieved without the help of layoffs and even with an increase in number of lawyers from 647 to 653.

Source:  www.nylj.com

White & Case is loosing another eight partners who are leaving the firm for Latham & Watkins. These laterals will be dispersed amongst the following cities: Abu Dhabi, New York, Riyadh and London. Craig Nethercott and Glen Ireland are joining the London office. Villiers Terblanche and Nick Collins will be at the firm’s Abu Dhabi office. Riyadh welcome attorneys Christopher Langdon and Mohammed Al-Sheikh. New York will be boosted by attorneys Christopher Cross and Clement Fondufe.

Source:  www.legalweek.com

Bryan Cave has announced an revenue increase of 12 percent in 2009. Revenue rose from $502.5 million in 2008 to $563 million. These numbers are partially due to the firm’s many changes in attorney numbers. Here’s the story: 945 lawyers closed the 2008 year with Bryan Cave. At the start of the 2009 year, however, Bryan Cave merged with Powell Goldstein creating a megafirm of 1,165 lawyers. A month later, the firm was forced to dump 58 attorneys and 76 staff memebers because of the economic downturn.

Source:  www.thelawyer.com

Winstead not only deferred 11 first years, the firm rescinded two offers right before they were to start work (the second time). Today, only nine attorneys start work at Winstead. The firm does not share why the two attorneys have been permanently dumped. The possibilities are endless. The two in question may have gotten into some personal legal trouble; we only have our imaginations to fill in the story.

Source:  www.abovethelaw.com

Amidst the bad news in the legal world of 2009, there appears to be some positive news. The time period of 12 months ending on September 30th 2009 had 2,775 partners join or leave BigLaw firms. This number increased by 10.6 from the year before.  A total of 17 percent of the partner lateral moves consisted of litigation lawyers.  Banking and Finance partners trailed closely behind with 15 percent. Corporate partners composed 10 percent of the total partner moves.

Source:  www.amlawydaily.typepad.com

In the top 50 UK firms, Berrymans Lace Mawer has the highest percentage of female partners. Women make up 35 percent of the firm’s partnership. This may be in part because Berrymans offered part-time positions to all of its partners several years ago.

Source:  www.thelawyer.com

Bryan Cave’s former partner, Joshua Sable, has just taken a position with CPEhr, a human resources outsourcing firm. The firm is based in Los Angeles. Sable was head of the labor and employment law practice at Bryan Cave’s Santa Monica office.

Source:  www.jdjournal.com

Things are looking up for the legal world in 2010. Or at least several International firms seem to think so, as can be seen by the hiring of new laterals, relocations and counsel appointments. Minter Ellison for one, has hired Wu Yi Yi from Rolmax to head the Shanghai office. Jay Kolb joined Vinson & Elkins as a partner in Shanghai. Some firms believe that the capital markets practice will need reinforcements. For example, Reed Smith Richards Butler has added Michael Fosh as a partner in the capital markets group. Other firms believe that outbound M&A deals will increase and are taking action to prepare for such an event.

Source:  www.asia.legalbusinessonline.com