With the hiring of two former Dechert partners, Dewey Ballantine has expanded its financial services practice and opened a new office in Charlotte, NC. James R. Bryant III and W. Todd Stillerman will open the new office in the second-largest banking center in the U.S. Their structured finance practice focuses on structured real estate products and equity investments, including the representation of issuers and underwriters in commercial mortgage-backed securitization (CMBS) transactions, real estate CDOs and the securitization of other real estate interests, sale-leaseback, mezzanine financing, and syndicated finance transactions. Dewey has over 20 partners in its Structured Finance Group located in New York, Los Angeles, Washington D.C., London, Milan and Warsaw; the firm has hired 17 lateral partners since the beginning of April.
Source: www.carolinanewswire.com
Special Benefits Provide Extra Draw to Firms
Besides hiking up salaries, some law firms are coming up with other ways to improve retention and recruitment. These special perks are becoming increasingly more important in this market where lateral defections are commonplace and associate attrition is close to 80 percent by the time lawyers are in their fifth year of practice. Nixon Peabody started a matching contributions 401(k) plan for associates who have been with the firm for two years, something most firms only do for partners and administrative staff. DLA Piper implemented a program that reimburses its lawyers $2,000 for purchasing ($1,500 for leasing) a hybrid car. This program is all a part of the firm’s global sustainability initiative which began in January. Other firms like Alston & Bird offer services targeted at mothers like childcare, nursing rooms, or parking spaces for expecting mothers.
Source: www.law.com
Lone Star Lawyers’ Lateral Moves
Texas lawyers are making lateral moves. Gary Short left Vinson & Elkins to join Jones Day in Dallas as a partner in the employee benefits & executive compensation practice. Nancy Furney and Lori Oliphant have joined Winstead in Dallas as shareholders. Formerly with Jenkens & Gilchrist, Francis Munchinski has joined Cox Smith Matthews in Dallas as of counsel in the firm’s energy department. Bracewell & Giuliani has gained public law attorney, William King, as of counsel in Houston. Litigation attorney Noelle M. Reed has become a partner in the Houston office of Skadden, Arps, Slate, Meagher & Flom.
Source: www.nylawyer.com
Foley Hoag Adds International Arbitration Partner in D.C.
Foley Hoag welcomed leading international arbitration lawyer Ronald E.M. Goodman to its Washington office. Goodman joins the firm as a partner in the International Litigation and Arbitration practice, along with associate Geraldine R. Fischer. Both attorneys came from Winston & Strawn. Goodman was formerly the co-head of Winston & Strawn’s global international arbitration practice; he has represented clients before all major international arbitral bodies such as the ICSID and the International Chamber of Commerce. Foley Hoag has 250 lawyers practicing in Boston, Washington, D.C., and Waltham, MA.
Source: www.home.businesswire.com
Jenner & Block Gains Litigation/White-Collar Partner
Federal prosecutor Katya Jestin has joined Jenner & Block as a partner in the New York office. She will work in the firm’s litigation department and the white collar criminal defense and counseling practice. Jestin was most recently the Deputy Chief of the Organized Crime & Racketeering Section of the United States Attorney’s Office for the Eastern District of New York. She is most noted for her convictions of Peter Gotti and his 16 co-defendants on charges of racketeering, money laundering, wire fraud and extortion. Jenner & Block has more than 450 lawyers in offices in Chicago, Dallas, New York and Washington, D.C.
Source: www.prnewswire.com
Arnold & Porter Selects First UK Partner to Head London
Arnold & Porter appointed its first non-US partner to head its London office. Lee Narrow, who has been the head of London for the past five years, will be replaced by Tim Frazer, the former administrative partner and head of the firm’s UK competition practice in London. The London office has grown to the extent that it no longer is efficient for US partners to be traveling back and forth between the US and London. Narrow will remain with the firm in London, but will scale back to a reduced basis when he reaches the firm’s mandatory retirement age of 65 later this year.
Source: www.thelawyer.com
DLA Piper Matches $160,000 in CA
DLA Piper has raised starting salaries in its Los Angeles, San Diego, San Francisco and Silicon Valley offices to $160,000. Sacramento first-years will get $145,000. Earlier in the year the firm raised salaries for CA intellectual property associates to $160,000 but left all other associates at $145,000. The firm assured associates that the raise will not mean higher billing rates, an increase benchmark hours requirements, or a reduction in bonus pay.
Source: www.law.com
CA Firms Continue with Raises
Pillsbury Winthrop Shaw Pittman is the latest large California-based firm to raise salaries. Its San Francisco, Silicon Valley, Los Angeles, Orange County and San Diego offices will have the $160,000 starting salary, and Sacramento first-years will earn $145,000. LA-based Munger, Tolles & Olson also raised first-year pay to $160,000, and San Francisco’s Shartsis Friese went up to $165,000. Manatt, Phelps & Phillips announced that on Jan. 1 it would also match the $160,000 rate.
Tags: Manatt, Phelps & Phillips, LLP | Los Angeles
Lateral Hire at Gibson Dunn, L.A.
Gibson, Dunn & Crutcher has hired Heiko Kai Schultz as of counsel in the Los Angeles office. Schultz was formerly a partner with Kirkland & Ellis. His commercial litigation practice handles intellectual property, bankruptcy, securities, accounting malpractice and environmental litigation.
Source: www.lawfuel.com
Sheppard Mullin Raises Starting Pay in L.A. and D.C.
Sheppard, Mullin, Richter & Hampton has announced that first-year associates in Los Angeles and Washington, D.C. will now earn $160,000. However, the L.A.-based firm is upping the hours-based bonus requirement from 2,000 to 2,100 hours. According to the firm managing partner, in 2007 the extra cost will come out of partner profits rather than increased rates. Seyfarth Shaw also raised its San Francisco and L.A. starting salaries to $145,000.
Source: www.law.com
