Dykema Gossett P.L.L.C. has conducted a survey about the merger and acquisitions market in the U.S. The survey illustrates that industry authorities are much more hopeful about the state and future of the market. Last year, about 50 percent of the survey takers predicted that it would be weak for the next 12 months. In the 2009 survey, 81 percent predict that the M&A market will be neutral or improve immensely over the next year.
Source: www.crainsdetroit.com
Tags: Dykema Gossett PLLC
Former White & Case partner, Marc Ackerman, has joined O’Melveny & Myers in New York. The firm is in the midst of boosting its intellectual property practice, especially in New York and in Washington. This strategy has been made difficult by the defection of three IP partners who left for Kirkland & Ellis earlier this year.
Source: www.nylj.com
Tags: White & Case LLP | New York
Weil Gotshal & Manges LLP has hired two partners from Simmons & Simmons to boost its China practice. Henry Ong has joined the firm’s Hong Kong office and Jasson Han splits his time between Hong Kong and Beijing. Both partners focus on mergers and acquisitions and capital markets.
Source: www.bloomberg.com
Tags: Weil, Gotshal & Manges, LLP | Hong Kong
Cleary Gottlieb Steen & Hamilton has transferred a partner from New York to its Moscow office. David Gottlieb focuses his practice on M&A but also practices capital markets law. Gottlieb joins two other partners: Scott Senecal and Murat Akuyev.
Source: www.nylj.com
Tags: Cleary Gottlieb Steen & Hamilton LLP | MoscowMost of the big law firms in Texas have delayed start dates and decreased salaries for first year associates. Five big law firms refused to provide data on new associates in their Texas offices including: Baker & McKenzie; Brown McCarrol; Fulbright & Jaworski; Greenberg Traurig; and King & Spalding. The other firms offered this data: there are a combined 358 new associates scattered across these 21 firms. Last year there were 397 new associates. 125 associates, or one-third, will not start until January 1, 2010 or later.
Source: www.law.com
Tags: Dallas
McDermott, Will & Emery has boosted its New York office with the hire of two IP attorneys from Daryby & Darby. Joseph Robinson and Robert Shaffer join as partners. Robinson’s departure may do some significant damage to Darby & Darby due to the substantial revenue he produced. The firm apparently new of their departures ahead of time and are planning to hire more partners to make up for the revenue lost.
Source: www.law.com
Mao Rong has just moved to Reed Smith’s Beijing office as of counsel. She joins from Kodak, where she was the director of legal affairs for Asia-Pacific. Rong has 10 years of in-house experience under her belt. She will focus her practice on cross-border M&A and corporate transactions.
Source: www.asialegalbusinessonline.com
Tags: Reed Smith LLP | Beijing
The word on the street tells us that Folger Levin & Kahn and Crowell & Moring are in the midst of a merger discussion. This rumor has yet to be confirmed or denied by the two firms. It was first leaked about a month ago.
Source: www.nylj.com
Baker & Hostetler has boosted its New York presence with the lateral hire of three attorneys. Mark Kornfeld joins from Hogan & Hartson. Deborah Renner, once a partner at Sonnenschein Nath & Rosenthal, and Gonzalo Zeballos, a former assistant general counsel for American International Group Inc. also join the firm. Baker Hostetler’s New York managing partner, George Stamboulidis, explains that the firm rented another floor for the sheer purpose of hiring more attorneys. The New York office now has more than 90 attorneys.
Source: www.nylj.com
Tags: Baker & Hostetler LLP | New York
Morrison & Foerster is planning to cut starting salaries down to $145,000 for all U.S. associates except for those in New York. The New York salary will remain at $160,000. Several other U.S. law firms have cut salaries this year as well, such as: Nixon Peabody, Baker & McKenzie and Chadbourne & Parke.
Source: www.bloomberg.com
Tags: Morrison & Foerster LLP