McDermott Will & Emery announced today the formation of a Subprime & Credit Markets Practice Group, intending to address clients’ various needs arising from the repricings in the subprime debt markets. The group, comprised of 40 partners and 90 lawyers, is led by head of structured finance Thomas McGavin (New York) and by co-head of structured finance Nick Terras (London).
Source: http://www.mwe.com
DLA broke the $2bn revenue barrier, set by Latham & Watkins and Skadden Arps Slate Meagher & Flom. The firm posted global revenues of $2.1bn in the 2007 calendar year as a collective figure for their operations in Europe, Middle East and Africa (EMEA) and US operations. Because of the increase of revenue by 19 percent from last year’s figure, DLA Piper has the distinction of having one of the most significant turnovers.
Source: www.thelawyer.com
Paul Hastings has had a second consecutive year of revenue and profit increase by 20 per cent or more. Chairman Seth Zachary reports that this increase is representative of his firm’s growth in the US, specifically in New York, and globally, particularly in London and Asia. Paul Hastings’ recent success means it has tied for second place, alongside Latham & Watkins, as being the second-largest and most-profitable California-originated firm.
Source: www.thelawyer.com
Skadden Arps Meagher & Flom will open a Shanghai branch Monday, February 18th, the firm has announced. Partner Gregory Miao, formerly of Beijing and Hong Kong, will head the office, which will focus on corporate and real estate law. Skadden joins a rush of moves to Shanghai, where it will join firms such as Sheppard Mullin Richter & Hampton and Fried Frank Harris Shriver & Jacobson.
Source: www.nylawyer.com
Law firm Lowenstein Sandler has announced that shareholder Gary M. Wingens has been elected new managing director of the 275-attorney firm. Wingens is the head of Lowenstein Sandler’s Mortgage Finance practice, and succeeds Michael L Rodburg.
Source: www.njbiz.com
Law firm Epstein Becker & Green has announced that they will be consolidating their Texas practice to the Houston market, and thus will be closing their Dallas branch. The 13 attorneys housed in Dallas have been offered positions in the Houston office or in any Epstein Becker office they choose. Representatives of Epstein Becker say this move will strengthen and improve their Houston practice.
Source: texaslawyer.typepad.com
Top law firms Latham & Watkins and Freshfields Bruckhaus Deringer are set to embark on initiatives to gain footing in the Middle Eastern market. Latham has hired partners from Vinson & Elkins to launch their Dubai branch, while Freshfields has relocated many of its London associates to its existing offices in the area. Allen & Overy and Clifford Chance are among the premier firms with UAE branches, solidifying a trend in efforts to capture lucrative clients in the Middle East.
Source: www.legalweek.com
Bracewell & Giuliani has announced the addition of Jeffrey J. Ansley and William C. McMurrey as partners to its White Collar Criminal Defense and Special Investigations practice. Both Ansley and McMurrey served as Assistant United States Attorneys in Dallas. Ansley was lead prosecutor for securities fraud cases in the Fraud and Public Corruption/White Collar Section, while McMurry was the Assistant U.S. Attorney in charge of healthcare and financial institution fraud prosecutions.
Source: www.pr-inside.com
The Houston-based law firm Baker Botts has reported an increase in profits by 19 percent for 2007. Profits per equity partner (PEP) surged to 18.6 percent at a new record of $1.3 million, an increase from last year’s $1.09 million. Revenues were also up, with turnovers at just under 15 percent.
Source: www.law.com
Bracewell & Giuliani LLP has announced that Mark C. Roberts has been elected to the position of Firm Managing Partner. Roberts has over thirty years of experience in complex commercial litigation and has been working for Bracewell since 1977. He is the firm’s seventh Firm Managing Partner.
Source: www.businesswire.com
