The third year of my research into failure rates of partner
lateral hires in London has been extensively featured in The Lawyer today.
This reflects investments the firm has made in the business over the last year, including opening new offices in Perth, Australia and São Paulo, Brazil, the latter of which opened as part of the firm's recruitment of the former BLG Aerospace team in October 2011; and a number of other
lateral hires in support of the firm's core sectors of focus, including in International Arbitration, World Trade, Natural Resources, Insurance (corporate) and Shipping.
Turn to
lateral hires in areas of need, reduce hiring, speed reviews, and terminate under - performing junior lawyers.
The recent move by DLA Piper's former global chair Nigel Knowles to join fast - growing UK firm DWF is one of the most intriguing
lateral hires in years.
The magic circle firm, which overhauled its three - tier lockstep system in 2015, has long had the ability to reward top - performing partners by moving them above its core 100 - point plateau, but has previously opted against such a move — even for
lateral hires in the highly competitive US market.
Frank noted that Philadelphia firms were also especially active in
lateral hiring in 2013, and lateral hires often get bumps in pay.
Hastings, who is head of Addleshaws» civil fraud group, will be Quinn's sixth
lateral hire in London this year.
Elite City firm sees rare partner exit as David Berman becomes Quinn's fifth
lateral hire in London this year
Simpson Thacher & Bartlett has hired Freshfields Bruckhaus Deringer corporate partner Ben Spiers, in a rare
lateral hire in London.
Paul Weiss Rifkind Wharton & Garrison has made its first ever partner promotion in London, on the back of its first
lateral hire in the City earlier this year.
While this was not the biggest rise in the ranking, new leader Kolvin Stone (
a lateral hire in 2010 from Fox Williams) says the City branch is «in growth mode».
Nevertheless, it is interesting to note that, so established has the trend for
lateral hiring in London become, that even when hitherto ultra-conservative lateral hirers such as Allen & Overy and Macfarlanes nab two partners apiece, the lack of novelty means that it no longer invokes quite the same comment it once would.
This year
lateral hiring in cap markets has been extremely slow, for two obvious reasons: a) Many IPOs US cap markets groups have been working on in HK / China are on hold; and b) there was much more than usual
lateral hiring in this practice area from late ’10 to mid ’11 (right before the slow down in IPOs).
Four years after making its first - ever
lateral hire in the Chinese territory, the Magic Circle firm has recruited disputes partner Wynne Mok from the Hong Kong Securities and Futures Commission.
This year
lateral hiring in cap markets in HK / China has been extremely slow, for two obvious reasons: a) Many IPOs US cap markets groups have been working on in HK / China are on hold; and b) there was much more than usual
lateral hiring in this practice area from late ’10 to mid ’11 (right before the slow down in IPOs).
But what does this mean for US associate
lateral hiring in Hong Kong / China going forward in the coming weeks and months?
MENLO PARK, Calif., Sept. 14, 2016 / PRNewswire / — The legal field may see a lift in
lateral hiring in the months ahead.
Relationship lawyers, faced with pressure from above to «cross sell,» try to introduce their clients to partners in the firm's new office in (pick a city) or the latest
lateral hire in (pick a... Continue Reading
Not exact matches
The collapse of Dewey & LeBoeuf helped drive partner
hiring by US law firms
in London to record levels
in 2012, with senior
lateral recruitment
in the City climbing by almost 40 % during the last calendar year.
K&L Gates has
hired Pinsent Masons energy disputes partner Mike Stewart, the firm's second
lateral partner addition
in the City
in a month.
They might have had good strategic reasons; for example, a firm's repeated appearance
in a nationwide legal periodical could translate into recruitment and
lateral hiring advantages.
This can be done
in part by
hiring people for qualities over skills, and more importantly, by those
in leadership positions exhibiting a spirit of cooperation and collaboration, not only to those who are on a
lateral plane but also to their subordinates.
Furthermore, huge amounts of money are then spent on
lateral hires (
in terms of recruitment fees and guaranteed minimum drawings) when there is, consequently, a dearth of decent lawyers coming through from the ranks to fill the higher levels.
It did set me thinking, though, what is the appropriate level,
in order to judge success of a
lateral hiring policy?
«We've
hired some
laterals and promoted some talented associates, but we're still under - sized
in comparison to the M&A powerhouses and big litigation teams at other New York firms.»
Recent reports on
lateral hires, financial data, salaries, and
hiring trends
in BigLaw.
EC: We're looking to grow
in corporate M&A and litigation.We've
hired some
laterals and promoted some talented associates, but we're still under - sized
in comparison to the M&A powerhouses and big litigation teams at other New York firms.We need the additional scale and scope to continue to grow and increase our profile.
Clients facilitate this type of
lateral movement when they proclaim we
hire the lawyer, not the firm — thus converting themselves into relatively portable chattel
in the lawyer's «book».
Posted by Jeff Jeffrey on September 08, 2009 at 01:40 PM
in Laterals /
Hiring, Legal Business, Supreme Court Permalink
With that
in mind, I have undertaken a further, small, piece of research looking at how various
lateral hiring policies have affected law firm financial variables over time, and the results are quite intriguing.
The firm has also
hired multiple
lateral associates
in the past year.
One reason profits may have plateaued: an ambitious
lateral hiring campaign last year, especially
in Kirkland's overseas offices.
She is an active participant
in the firm's Women's Initiative Group and
Lateral Hire Committee.
The length of time that a firm remains
in one of the above governance cycles depends, to a greater or lesser degree, upon: the firm's economics; its culture; the traditional method of admitting partners - through the firm's career development program,
lateral hires or combination; the method of allocating profits to the partners and how the system is administered; the personal characteristics, the rainmaking and professional skills of partners whose practice areas are profitable over an extended period of time; and how certain of the more influential partners are perceived by other influential partners.
The post he re-blogged (now housed
in Asia Law Portal) is titled: Sales divisions, not
lateral hiring — are the best avenue to BigLaw growth.
In evaluating possible merger candidates, significant weight should be given to the record of revenue and profits of the firm or
lateral -
hire candidate, the character of the key lawyers and their reputations for integrity, work ethic, competence and firm culture.
Ben and Nick's appointments are the latest
in a series of
lateral hires for Winston's rapidly expanding Dubai office, following the additions of Christopher Skipper
in May 2017 and Campbell Steedman and Shibeer Ahmed
in late 2016.
«When it comes to
lateral recruiting, firms should consider themselves sellers
in a buyer's market — any misstep or misinformation along the way could mean the difference between getting and losing many potential
hires.»
Set out
in the four articles linked below are our thoughts on what Brexit will mean for
lateral hires:
Research into
lateral hiring trends at some of the largest international firms operating
in the UK found that partner - to - partner recruitment jumped by 56 %
in 2014 compared with 2013, with 117 moves compared with 75 the previous year.
Large law firms are laying - off lawyers, bringing
in smaller first year associate classes,
hiring more contract and experienced
lateral attorneys.
The majority of partners regard guaranteed pay deals for senior
lateral hires as an ineffective weapon
in the war for talent, despite a consensus that such deals are common.
From the Aug. 5 Boston Business Journal article, The lawyer hunt:
In the legal industry, competition heats up for lateral hires: «The lateral hiring sprees at national firms that have colonized Boston in recent years and the growing embrace of businesslike practices and cultures have spurred a bare - knuckled fight for talen
In the legal industry, competition heats up for
lateral hires: «The
lateral hiring sprees at national firms that have colonized Boston
in recent years and the growing embrace of businesslike practices and cultures have spurred a bare - knuckled fight for talen
in recent years and the growing embrace of businesslike practices and cultures have spurred a bare - knuckled fight for talent.
The US firm has
hired numerous high profile
laterals in London
in recent years but, to date, its mainstream M&A team has been overshadowed by efforts
in practices such as private equity and banking.
US firm posts record revenue after successful year
in London,
lateral hires and pipeline of big deals
«The
lateral hiring sprees at national firms that have colonized Boston
in recent years and the growing embrace of businesslike practices and cultures have spurred a bare - knuckled fight for talent.
In northern England, there has been a rise in lateral hires at partner level as firms diversify into more niche practice areas, such as intellectual property and I
In northern England, there has been a rise
in lateral hires at partner level as firms diversify into more niche practice areas, such as intellectual property and I
in lateral hires at partner level as firms diversify into more niche practice areas, such as intellectual property and IT.
The focus
in recent years on
lateral hiring is but a glimpse of what is to come.
Venable grabs a five - lawyer IP group
in Washington, D.C.; Sullivan & Cromwell makes a rare
lateral hire; and a nine - lawyer health care group is on the move
in Birmingham.
My focus was on
lateral partner
hiring, where I gave a sneak preview of a little exercise I've done looking at the value generated (or not) by a
lateral hiring programme, a task
in which I was ably assisted by another Møller consultant, Derek Klyhn.