Morgan, Lewis & Bockius has taken David Asmus from Baker Botts to boost its energy practice. Asmus will be in charge of the Morgan Lewis’ energy transactions practice. Another Baker Botts partner, Michael King, will join him.
Source: www.amlawdaily.typepad.com
Tags: Morgan, Lewis & Bockius LLP | Houston
Kaye Scholer is making pay cuts a little differently than other firms. All first and second year associates who on the track of making fewer than 1600 hours this year will lose 20% of what they make the second half of the year. Third year associates stand to lose 15% of their second half earnings if they fail to make their billable hours. If these associates make their hours quota, they will be reimbursed.
Source: www.blogs.wsj.com
Tags: Arnold & Porter Kaye Scholer LLPConsulting firm, Hildebrandt International, has published a survey (.pdf) about the state of the economy and its effects on law firms in the present and future. 133 Am Law 200 firms took part in the survey, specifically, the chairman or managing partner of each firm gave their educated opinions. The general consensus is that things are looking up for both the economy and for the legal field.
Source: www.law.com
Norton Rose is merging with Deacons Australia and obtaining the new name of Norton Rose Group. Deacons’ offices in Beijing, Shanghai, and Guangzhou will not be joining the merge and will even have new competition as a result of this merger. The newly combined firm has plans to expand throughout Asia.
Source: www.thelawyer.com
Tags: Norton Rose Fulbright
McCarter & English has boosted its Tax & Benefits group with a recent hire. Kenneth Yoon joins the firm’s New York office as partner. Arent Fox LLP is taking the hit of Yoon’s departure.
Source: www.lawfuel.com
Tags: McCarter & English, LLP | New York
John Douglas has taken a position with Davis Polk & Wardwell to lead its bank regulatory practice. Douglas most recently practiced with Paul, Hastings, Janofsky & Walker. He joins the New York office.
Source: www.nylj.com
Tags: Davis Polk & Wardwell LLP | New York
Barnes & Thornburg will envelop 22 attorneys from The Parsinen Law Firm PA, effective July 1. This the third big move the firm has made this year. It has opened offices in Atlanta and in Columbus, Ohio. With the addition of these three new offices, Barnes & Thornburg has ten offices and about 475 attorneys.
Source: www.cms.ibj.com
Tags: Barnes & Thornburg LLP
Cozen O’Connor has added two attorneys to its New York Offices. Angelo Savino has enters into the firm’s global insurance practice group. Robert E. Fischer joins as of counsel as a corporate attorney. Cozen has hired more than 30 attorneys in the last few months.
Source: www.newyork.dbusinessnews.com
Tags: Cozen O'Connor, P.C. | New YorkMost Am Law 100 firms are not jumping on the deferral bandwagon as a way to deal with overstaffing. Seven out of the ten most profitable partnerships are allowing their new associates to start in the fall as promised. These firms are as follows: Boies, Schiller & Flexner; Cleary Gottlieb Steen & Hamilton; Kirkland & Ellis; Paul, Weiss, Rifkind, Wharton & Garrison; Quinn Emanuel Urquhart Oliver & Hedges; Sullivan & Cromwell; Wachtell, Lipton, Rosen and Katz. Those firms not following suit include Cravath, Swaine & Moore; Simpson Thacher & Bartlett; and Schulte, Roth & Zabel. Cravath offered $80,000 in addition to health care and loan repayment stipends to those lawyers that defer for a year. Simpson Thacher gave their incoming class an option to do public service for $60,000 with health insurance. Schulte, Roth made deferment mandatory.
Source: www.amlawydaily.typepad.com
Saul Ewing finally put biglaw’s words into action. The firm has posted its alternative fee agreements online, composed of two options. With this new payment plan, a certain clients may either choose a fixed fee or can choose to pay per attorney, per day.
Source: www.law.com
Tags: Saul Ewing LLP
