Among some of the most profitable firms in the AmLaw 100, old-fashioned lockstep compensation systems remain in place. The partner pay scales have low spreads – often less than 4:1. Because these firms maintain such high profits per partner, partners have little reason to complain. However, even the most profitable firms have become more vulnerable to the lateral market over recent years. It has become more common for partners to make lateral moves to firms with high-spread compensation systems where they will be individually rewarded according to their value to the firm.
Source: www.law.com

According to a new survey reporting the experiences of over 1,000 partners who have made lateral moves over recent years, partners are happier at their new firms than they were 10 years ago. However, expectations about the firm’s ability to expand and support their practices are still not being met, causing many of the departures. The survey reported the firms that most met expectations and satisfied new partners. Among those in the top quartile were Orrick, Herrington & Sutcliffe; Gibson, Dunn & Crutcher; Cooley Godward Kronish; and Sedgwick, Detert, Moran & Arnold. The most important factor putting these firms at the top of the list was the level of emphasis they placed on integrating new partners. Partners were much happier with some sort of integration program rather than just being thrown in to fend for themselves.
Source: www.nylawyer.com

In San Francisco, Covington & Burling has hired Tammy Albarran as a special counsel and Jason Zoladz as an associate. Albarran comes from Morrison & Foerster and Zoladz comes from Skadden, Arps, Slate, Meagher & Flom. Sony Barrai has joined Schiff Hardin’s San Fran office as an intellectual property associate. Pillsbury Winthrop Shaw Pittman has added Liane Randolph as a counsel in the Sacramento office; she will practice political law.
Source: www.nylawyer.com

Freshfields Bruckhaus Deringer finance partner Franco Campomori will be joining Orrick Herrington & Sutcliffe. The hiring has not been announced yet, but most likely Campomori will become a partner with the Milan banking and finance group. The addition puts Orrick’s numbers in Italy up to 39. Freshfields will also be losing dispute resolution partner Gunhild Schaefer from its Frankfurt office.
Source: www.legalweek.com

Nixon Peabody was named as one of the “Most Active Law Firms” in 2006 in private equity fund formation and transactions according to the Private Equity Analyst. Ranked 4th this year, the firm has been ranked in the top five for three years. One example of the the firm’s work in this area was its representation of Credit Suisse’s Customized Funds Group in several U.S. and offshore closings for the Credit Suisse Private Equity Opportunities Fund. Nixon Peabody has 700 attorneys practicing in 17 offices across the U.S.
Source: www.prnewswire.com