O’Melveny & Myers and MoFo Bump up Salaries

Monday, May 7, 2007

Two more California firms have increased first-year salaries to $160,000. O’Melveny & Myers and Morrison & Foerster are the latest to bump up pay, following Orrick, Herrington & Sutcliffe, who made the increase last week. For these two firms with large California associate populations, the pay raise will be costly. However, firm leaders emphasize that it comes as a result of the need to stay with the market, and to show clients that they provide the best service and the best talent.
Source: www.law.com

Tags:  O'Melveny & Myers, LLP | New York

Lateral Partners Happy with New Firms

Monday, May 7, 2007

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

Lateral Moves in California

Monday, May 7, 2007

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

Orrick Welcomes Freshfields Finance Partner to Milan

Sunday, May 6, 2007

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

Tags:  Orrick, Herrington & Sutcliffe LLP

Orrick Raises CA First-Year Pay to $160,000

Friday, May 4, 2007

Orrick, Herrington & Sutcliffe announced on Thursday, May 3 that it would be increasing its first-year associates’ pay in all California offices except for Sacramento. The pay raise to $160,000 matches the raise that the firm already made in New York and Washington, D.C. During the frenzy of raises earlier this year, most firms only raised CA salaries to $145,000, though some like Quinn Emanuel Urquhart Oliver & Hedges went up to $160,000. Speculation abounds whether other big name California firms like Gibson, Dunn & Crutcher or Latham & Watkins will also bump up their salaries. On the other hand, for more middle-market firms that matched NY salaries, the chances are less likely that they will all make another raise in California.
Source: www.law.com

Tags:  Orrick, Herrington & Sutcliffe LLP | New York

Compensation and Benefits Partners Hired in NY

Friday, May 4, 2007

Two compensation and benefits partners have made lateral moves in New York. Mitchel Pahl left Alston & Bird for Dewey Ballantine. His clients have included Prudential Insurance Co., the Carlyle Group and Bertlesmann, Inc. Dewey has recently been on a lateral hiring spree, with new partner arrivals offsetting those lost after the failed merger last year. Philadelphia-based Pepper Hamilton recruited partner Stephen Gorell from Paul, Weiss, Rifkind, Wharton & Garrison.
Source: www.nylawyer.com

Tags:  New York

White & Case’s London Arm Hires Pair from McDermott

Friday, May 4, 2007

White & Case has recruited two partners from McDermott, Will & Emery for its London capital markets practice. Andrew Croxford and Andrew Caunt advise on all aspects of equity capital market transactions. The firm is also transferring US-qualified securities partner Sven Krogius from Moscow to London. Other additions to the London office over the past year include corporate partner Phillip Broke and Clifford Chance funds partner Matthew Judd. White & Case’s London office employs around 250 attorneys, the largest number of any U.S. firm in the capital city.
Source: www.legalweek.com

Tags:  White & Case LLP | Moscow

Nixon Peabody Recognized as Top Private Equity Fund Firm

Friday, May 4, 2007

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

Tags:  Nixon Peabody LLP

Weil, Gotshal Top Grossing Out-of-State Firm in Texas

Thursday, May 3, 2007

New York-based Weil, Gotshal & Manges was the number one grossing out-of-state firm in Texas in 2006, according to Texas Lawyer’s ranking. With offices in Dallas, Austin, and Houston, the firm posted $62.9 million in net income last year. Weil, Gotshal was also the top firm in Texas profits per partner and revenue per lawyer. The NY firm has seen rising gross revenues in Texas ever since it opened in Dallas 19 years ago. Following Weil, Gotshal in the ranks were Jones Day of Cleveland, Atlanta-based King & Spalding, Chicago’s Mayer, Brown, Rowe & Maw and Washington, D.C.-based Howrey. Net income for these top five firms totaled $162.4 million, a 4.6 percent increase from 2005.
Source: www.nylawyer.com

Tags:  Weil, Gotshal & Manges, LLP | Austin

Smaller Firms Enter China Market

Thursday, May 3, 2007

Until recently, most firms that have entered the China market have been large and either based out of D.C. or the West Coast. Things have changed however, as two smaller firms have established business in China. White & Williams has had a China business practice group since 2003, and has held an informal alliance with Chinsese firm Xue Law Firm since the summer of 2006. Last month, the two firms made an official strategic alliance which will hopefully create more work and facilitate its existing work. Ohio firm Benesch Friedlander Coplan & Aronoff is also developing its China practice, having received its license in Feb. to open in Shanghai. The firm will send partner Yanping Wang to head the office and recruit other attorneys; the firm hopes to build the office up to 10 to 15 lawyers.
Source: www.law.com

Tags:  Benesch, Friedlander, Coplan & Aronoff, LLP | Shanghai