Vinson & Elkins raised Texas first-year associates’ salaries to $160,000, becoming the first Texas-based firm to match the New York market rate. V&E also raised pay for its Washington, D.C. associates. Salaries for first through eighth year associates were raised, but starting in the third year, associates must work 2,000 credit hours in order to be eligible for the complete raise. With this system, associates earn salaries comparable to those in NY, but if they are not able to make the 2,000 hours their pay is reduced only slightly, and only for that year.
Source: www.nylawyer.com

The Indian market is second only to China in its economic growth rate, and law firms are beginning to take notice. However, because foreign firms cannot practice or set up offices in India, many conduct their business from Singapore, London, or elsewhere. The booming economy is generating tons of work for U.S. firms, ranging from international public offerings to overseas acquisitions. New York firms such as Davis Polk & Wardwell; Cleary Gottlieb Steen & Hamilton; and Shearman & Sterling dominate the market in high end securities work. Wilson Sonsini Goodrich & Rosati; Fenwick & West; and Pillsbury Winthrop Shaw Pittman are particularly strong in tech work. One issue for U.S. firms is that Indian clients often try to cap costs, pushing down normal firm billing rates.
Source: www.law.com

New York partners are making lateral moves to new firms. Bankruptcy partner Richard Miller left Greenberg Traurig for Kirkpatrick & Lockhart Preston Gates Ellis. Eric Piasta joined Reed Smith’s private equity practice from Schulte Roth & Zabel. Warren McRae and Stephen Cohen have joined Loeb & Loeb as partners; McRae was with Bryan Cave and Cohen was previously of counsel at Morgan, Lewis & Bockius. Richard Liskov has rejoined the insurance practice at Chadbourne & Parke as special counsel. He was of counsel to the New York office of White & Case.
Source: www.nylawyer.com

Cooley Godward Kronish has opened an office in Boston, launched by ten Boston-based partners from national firms. Considering that Boston is one of the leading technology and life sciences centers in the world and Cooley’s strength in these areas, expansion to the new market was natural. The new office will boast market-leading expertise in emerging and public companies, life sciences, venture and private equity fund representation, mergers and acquisitions, intellectual property and commercial litigation. The firm expects associates to join the partners in Boston in the next few weeks. The opening in Boston continues Cooley’s expansion on the East Coast, as last fall the firm merged with New York firm Kronish Lieb Weiner & Hellman.
Source: www.marketwire.com

Jerry Spector, the former head of Blank Rome’s public finance tax law practice, joined Mintz, Levin, Cohn, Ferris, Glovsky and Popeo’s New York office as a member in the public finance section. Joseph Martini joined Wiggin and Dana as a partner in the white-collar crime practice group; he was previously a federal prosecutor in the Connecticut U.S. Attorney’s Office.
Source: www.nylawyer.com

Intellectual property firm, Darby & Darby, has raised its Seattle first-year associates’ salary to $160,000, matching its New York rate. The firm is has about 100 IP professionals, and is among the number of West Coast firms that have recently matched NYC pay rates.
Source: www.nylawyer.com

Blank Rome has lost two of its public finance partners to separate firms. Jeremy Spector, the former head of Blank Rome’s public finance group’s tax law and enforcement and compliance practices, has joined Mintz Levin Cohn Ferris Glovsky & Popeo’s New York office as a partner. Jeffrey Blumenfeld left after 24 years with Blank Rome, joining Wolf Block Schorr & Solis-Cohen as the chairman of its public finance practice in Philadelphia. Blank Rome now has six attorneys in the public finance practice; managing partner Carl Buchholz reported that the firm is seeking to grow that particular practice.
Source: www.nylawyer.com

New York partners are finding new homes. Warren McRae left Bryan Cave to become a partner in Loeb & Loeb’s IP litigation group. Jonathan Wry has joined Bracewell & Giuliani from Simpson Thacher & Bartlett; he will be a finance partner. Weiss, Wexler & Wornow welcomed Robert Snashall, who joins as a special counsel.
Source: www.nylawyer.com

U.S. firms’ recent salary increases have traveled beyond our borders to the U.K. New York-based Weil, Gotshal & Manges recently raised newly qualified lawyers pay in their London office from 75,000 to 90,000 British pounds, which is equivalent to over $179,000. Several factors go into determining salary increases in London, including New York rates, the legal market, and the office’s productivity. Other firms do not feel pressure to match Weil Gotshal’s rate; White & Case raised to 76,000 pounds from 67,500 pounds, and O’Melveny & Myers raised to 78,000 pounds. On the other hand, Latham & Watkins always matches London salaries to those in New York.
Source: www.nylawyer.com

David Furbush left O’Melveny & Myers for Pillsbury Winthrop Shaw Pittman. Furbush, a securities litigation specialist, will join Pillsbury’s Silicon Valley office where he will co-lead the firm’s securities litigation team. His work will focus on securities litigation defense in shareholder class actions and investigations initiated by the Securities and Exchange Commission.
Source: www.law.com