WilmerHale has recently introduced additional titles, such as senior associate and special counsel. These join the current titles of associate, counsel, and partner. For those nearing retirement, the firm has utizlized the term, senior partner. For those senior partners who stay past WilmerHale’s normal retirement age, the word senior counsel is given.
Source: www.thelawyer.com
While many firms have made redundancies in the recent past/present, some of those same US firms are currently planning on growing their Asia practices. Proskauer Rose LLP has just launched an office in Hong Kong and is already in the midst of making plans to birth another one. Slaughter and May is also waiting on the necessary approval to open its own office in China. China has seen a 19 percent increase of foreign firms since 2006, bringing the total to 177 firms today. Hong Kong has doubled its foreign firms (now 66) since 2004. It may seem silly in the face of a global economic downfall, but law firms are merely following suit in the global expansion of clients. This growth may be due to the following facts: China has the third largest ecomony and the world’s largest foreign currency reserves.
Source: www.bloomberg.com
Tags: Beijing
It is official; the first firm in the Middle East has cut jobs. That honor goes to Trowers & Hamlins. Trowers has spent the last four decades in the region, without ever having to say the word redundancy. Until now. The firm has let go 5 attorneys in Dubai, and has made an attorney in each Muscat and Riyadh redundant. This may be just the beginning of a legal decline, in the once booming middle east. Growth in the region has recently been substantial, as the following firms have launched offices there: Dewey & LeBoeuf, Clifford Chance, Latham & Watkins, King & Spalding, Hogan & Hartson, Berwin Leighton Paisner, Allen & Overy, Curtis Mallet-Prevost, and Shearman & Sterling.
Source: www.thelawyer.com
Tags: Dubai
On the Above the Law website, a tip was posted stating that layoffs at Pillsbury were known ahead of time because of a cell phone conversation overheard on the subway in New York. Apparently Robert Robbins, head of the firm’s corporate and securities group, leaked the news to the eavesdropper and eventually, to the world. Pillsbury confirmed the gossip, when there-soon-after, the firm officially announced layoffs. Who wouldn’t want to get paid to sit on their butts for a year? But, wait. There is a catch. Serious candidates must have a proposal of their own. They must write a letter explaining how they will fill their time expanding skill sets. And, the successful candidates will also have some contact with the firm during smaller projects.
Source: www.legaltimes.typepad.com
Tags: Pillsbury Winthrop Shaw Pittman LLPThompson Hine has announced its plan for a firm-wide salary cuts. The aim is to reduce base salary by $17,500. But, there is still hope. The lawyers who bill 1750 hours or more this year, will earn some or all of it back. More unpleasant news includes the firm’s announcement of layoffs. The damage? 12 associates, 5 paralegals, and 29 secretaries. But, wait, there is more: Thompson Hine also delayed the starting date for January 2010’s first-years.
Source: www.amlawdaily.typepad.com
DLA Piper’s Europe, the Middle East, and Africa (EMEA), as well as Asia, offices have reported significant growth in 2008. The combined offices increased revenue from 2007’s £503m to £584.9m. These figures are much more appealing than the US offices of 3.8 percent growth from $1.13 bn to $1.17 bn. DLA’s EMEA and Asia offices had an increase of average profit per partner of a little less than 1 percent up from £640,000 to £645,000. The US saw PEP growth of 6.4 percent from $1.21m to $1.29m.
Source: thelawyer.com
Tags: DLA Piper
Giles White, managing partner at Linklaters’ Asia office, is opting out of the firm and opting into an in-house position at Jardine Matheson. White has had a lengthy career with Linklaters for 21 years, 18 of which were spent as a partner. White plans to leave the firm at the end of April.
Source: www.thelawyer.com
Tags: Linklaters LLP | Hong Kong
Allen & Overy has struck lateral gold with the hire of two restructuring attorneys. Angela Somers and John Kibler both join from Cadwalader Wickersham & Taft and both join A&O’s New York office as special counsel. This is just the beginning. Kevin O’Shea, A&O’s NY restructuring head, plans to make his practice a determining factor in the firm’s growth.
Source: www.thelawyer.com
Tags: Cadwalader, Wickersham & Taft LLP | New York
Dana Levitt has taken a position with Foley & Lardner in the firm’s commercial litigation practice group. Levitt was formerly a partner with McDermott Will & Emery. She is to join the Los Angeles office.
Source: www.metnews.com
Tags: Foley & Lardner LLP | Los Angeles
Hunton & Williams has recruited Edward Fernandes from Akin Gump. Fernades will continue to practice in Austin, but will also work out of the Houston office. A major aim of his will be to grow Hunton’s litigation office, particularly in the Austin group. Fernades has much experience representing very large companies, such as Ernst & Young and Bank of America.
Source: www.austin.bizjournals.com
Tags: Akin Gump Strauss Hauer & Feld LLP | Austin