Kirkland & Ellis’s L.A. office has faced a number of departures over the past six months, bringing the 115-lawyer office down to about 90. About half of those attorneys who left were partners, some of whom are moving on to a new stage in their career. Now the number of partners and associates are about equal, creating a slight sense of imbalance. The L.A. office is strong in civil litigation, IP, bankruptcy, and corporate law, and firm sources report confidence in the office’s future growth.
Source: www.law.com
East Coast Firms New L.A. Offices Thrive
Several firms that entered the L.A. market last year are celebrating a successful first year. Despite the competitive lateral market, these firms have managed to significantly increase their headcounts. Goodwin Procter, had a particularly good year in California, opening two offices in L.A. and others in San Diego, Silicon Valley, and San Francisco. Steptoe & Johnson has grown their Century City office to 22 lawyers, finding success in recruiting in West L.A. Whereas Steptoe has grown using a lateral-by-lateral approach, Venable has built its L.A. office by combining two local 10-lawyer boutiques.
Source: www.law.com
Bingham McCutchen Merges with Tokyo Firm
Bingham McCutchen has merged with Tokyo insolvency firm, New Tokyo International Law Office. The merger will put the number of Japanese lawyers in the office to 50. In January of this year, Bingham merged with another Tokyo firm, Sakai & Mimura.
Source: www.thelawyer.com
MoFo Losses Antitrust Lawyer to Holme Roberts & Owen
Jesse Markham Jr. is leaving Morrison Foerster to join Holme Roberts & Owen in San Francisco as the antitrust team co-chair. At MoFo, Markham was the co-chair of the antitrust group for three years. His reasons for the move included lower billing rates and an opportunity to grow HRO’s practice. With the new addition, Denver-based HFO will have 19 lawyers in its San Fran office. Markham aims to establish one of the “go-to” antitrust practices in the country, but some say that will be difficult without a larger group of lawyers and in a firm that isn’t known for its antitrust work.
Source: www.law.com
Wilson Sonsini Prepares to Close Salt Lake City Shop
Wilson Sonsini will be closing its Salt Lake City office within the next two months. The 13-lawyer office opened in 2001. The Silicon Valley firm decided to close the office in order to bring partner Robert O’Connor back to the San Francisco office where he will help organize and manage the clean-tech practice. Corporate partner Mark Bonham will stay in Salt Lake, joining local firm Ray Quinney & Nebeker, along with four associates.
Source: www.law.com
Ogletree Deakins Merges with Lewis Fisher
Ogletree, Deakins, Nash, Smoak & Stewart has merged with Lewis Fisher Henderson & Claxton opening two new offices in Memphis, TN, and Jackson, MS. The merger will add 19 lawyers to Ogletree’s 365. Though Memphis had not been a city that Ogletree had been considering, it will allow the firm to service Western Tennessee, Arkansas, and parts of Mississippi. Moreover, only one other labor & employment boutique, Ford & Harrison, has an office in Memphis. Ogletree has opened six new offices since the beginning of 2005, and now has 30 nationwide.
Source: www.law.com
NJ Firm Lowenstein Sandler Raises Starting Salary to $140,000
Lowenstein Sandler is the first New Jersey firm to raise first-year salaries to $140,000. The 250-lawyer firm also reported that its New York associates’ pay might be even higher. The second highest-paying NJ firm is Flaster Greenberg, with a starting salary of $130,000. Lowenstein’s raise may put pressure on other NJ firms that have remained at the $125,000 level like Sills Cummis Epstein & Gross, Gibbons and McCarter & English. Raymond Thek, the chair of the recruiting committee at Lowenstein, expressed that the raise was the firm’s way of remaining the market leader and being able to recruit the best new associates possible.
Source: www.law.com
Chadbourne Enters into Merger Talks with UK’s Watson, Farley & Williams
Chadbourne & Parke has begun intial merger discussions with London-based firm Watson, Farley & Williams. The combined firm would have over 600 lawyers and combined revenues of more than $350 milion. Chadbourne has been looking to merge to increase its size and become more competitive with larger firms. Managing partner, Charlie O’Neil, has been trying to increase Chadbourne’s profitability over the past couple years after a bad year in 2005. He has succeeded in increasing the firm’s revenues, but the firm has also lost several key partners along the way.
Source: www.nylawyer.com
Goodwin Procter Opens in Palo Alto
Goodwin Procter has opened a Palo Alto office, its fifth office in California to open over the past 14 months. The Boston-based firm recruited six Bay Area attorneys from Townsend & Townsend & Crew LLP, Wilson Sonsini Goodrich & Rosati PC and Latham & Watkins LLP for the new office. The firm has offices in L.A., San Francisco, and San Diego, and has over 750 attorneys nationwide.
Source: www.bizjournals.com
San Diego Has More Law Firms Than Clients
The San Diego legal market has become saturated with lawyers and firms over the past 10-15 years, making the competition fierce for the limited number of clients. Luce, Forward, Hamilton & Scripps and what was then Gray Cary Ames & Frye were the first two firms in the city, but in the 1980s some L.A. firms started setting up shop in the city. Tech-focused San Francisco firms arrived in the early 90s, taking advantage of the booming life sciences industry. Most recently, Boston firms such as Mintz, Levin, Cohn, Ferris, Glovsky and Popeo and Goodwin Procter are staking their claim in the southern CA market. Some people say that these new arrivals will not have what it takes to compete against the well-established firms, though others argue that with some agressive lateral recruiting, these firms will be able to grow their San Diego offices into a real player in the market.
Source: www.law.com