Law.com International’s Post

Our 79th edition of Law Firm Partner Moves in London is here! This bi-monthly round-up contains 101 partner moves – an increase of 7% on the number of hires we saw during the same period last year (94), and up 9% on the cumulative five-year and ten-year averages - 92 and 93 respectively. Indeed, the rate of hiring is the second highest on record – bettered only by 2017, when the figures were artificially inflated following the collapse of King & Wood Mallesons' European verein. As reported in our last edition, despite a relatively soft market for transactional legal services, 2023 was a record year for law firm partner moves which were in large part driven by countercyclical investments by US law firms in private equity related hires. In the first two months of this year, that same dynamic has continued to fuel the red-hot law firm partner hire market. The most covetous firm this edition was Pinsent Masons, which hired five partners, followed by: Charles Russell Speechlys, DLA Piper, Fried Frank, Kirkland & Ellis, and White & Case LLP, which hired four partners apiece.    Top partner recruiters in London January-February 2024: · Pinsent Masons - 5 · Charles Russell Speechlys - 4 · DLA Piper - 4 · Fried Frank - 4 · Kirkland & Ellis - 4 · White & Case LLP - 4 · Bird & Bird - 3 · Mishcon de Reya LLP - 3 · Paul, Weiss, Rifkind, Wharton & Garrison LLP - 3 · Simmons & Simmons - 3 Paul Hastings saw the highest attrition – losing a half dozen laterals (serving partners) in the first two months of 2024, followed by Deloitte Legal, Goodwin, and Pinsent Masons, which each lost three. Firms with highest attrition in London (laterals only) January – February 2024: · Paul Hastings - 6* · Deloitte Legal - 3 · Goodwin - 3 · Pinsent Masons - 3  *Includes a partner who retired from the partnership in 2023   Also of note in this edition: · 38% (38) of all hires were female. · 29% (29) of all hires were non-partners moving into partnership. · 6 firms hired from in-house this edition: Addleshaw Goddard (from the Bank of England), Bracewell LLP (from bp), Morrison Foerster (from Deutsche Bank), Pinsent Masons (from Royal London), RPC- law firm (from Associated Newspapers), and Stephenson Harwood LLP (from Natixis Investment Managers). Read our full analysis, which details every single move, in our latest edition of the publication of record: https://lnkd.in/exTH4zbm #legalrecruitment #lawyer  #attorney  #biglaw  #londonlawyers

July 2024 Legal Industry News Updates: Law Firm Hiring and Expansion, Industry Awards and Recognition, #DEI and Women in Law https://bit.ly/3Wkyxva #legalnews #lawfirms #womeninlaw

July 2024 Legal Industry News Updates: Law Firm Hiring and Expansion, Industry Awards and Recognition, #DEI and Women in Law https://bit.ly/3Wkyxva #legalnews #lawfirms #womeninlaw

Our latest legal business opus, meticulously crafted with the eloquence of a bard and the precision of former legal virtuosi - [we utterly reject the term “failed lawyers”!] - is out today. A testament to jurisprudential enlightenment; it’s the ‘War and Peace’ of Law firm-on-law firm internecine conflict, the ‘Hamlet’ of Big Law intrigue, and the ‘Pride and Prejudice’ of legal recruitment. A riveting page-turner at the confluence of legal theory, philosophy, and commerce, featuring all the shenanigans of Big Law, whilst simultaneously addressing the thorniest and most profound jurisprudential issues of our time, which have continued to captivate scholars and jurists alike since before the Code of Hammurabi.   We address the truly significant questions: “Who’s in? Who’s out?”, “which law firms hired, and which law firms lost, the most partners?” … and, perhaps the most profound question of all, the one which strikes at the very foundation of the Rule of Law upon which the whole Western world’s legal system rests and which has been uttered, in oh so many different ways, by astonished lawyers and legal academics throughout the common law world since at least 1189 CE [which for the odd non-jurist who can’t quite remember is, of course, when English law defined “Time Immemorial”]: ...“I was at law school with [INSERT NAME], he/she was [CHOOSE AT LEAST ONE] lazy/ stupid/ creepy/ a pervert, how on earth did he/she manage to get into THAT firm? … where did I go wrong?”   … OK, those were two profound questions, but I am sure the answer to the latter involved you not speaking to Edwards Gibson.   In any event, The Publication of Record for the London Legal market - The 80th Edition of Edwards Gibson’s Law Firm Partner Moves is out today.   Click below for a free PDF copy:  https://lnkd.in/ei68RWCx  [Translation into ancient Babylonian, written in cuneiform, and carved into a seven-foot-tall basalt stele available at extra cost].  #lawyers #lawfirm #attorney #recruitment #Biglaw

Our 80th edition of Law Firm Partner Moves in London is here! This bi-monthly round up contains 83 partner moves - a decrease of 7% on the number of hires we saw during the same period last year (89); however, it remains up by 7% and 13% on the cumulative five-year and ten-year averages - 78 and 73 respectively. The most covetous firm this edition was Kirkland & Ellis, which hired five partners (three laterals), followed by Charles Russell Speechlys, which hired four partners (two laterals). Meanwhile, Katten Muchin Rosenman LLP, Pinsent Masons and TLT LLP hired three partners apiece. Top partner recruiters in London March – April 2024: • Kirkland & Ellis - 5 • Charles Russell Speechlys - 4 • Katten - 3 • Pinsent Masons - 3 • TLT - 3 Linklaters saw the highest attrition losing four laterals this edition. Whilst three of these were to New York headquartered rivals: Paul, Weiss, Rifkind, Wharton & Garrison LLP (corporate); Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates (financial services); and White & Case LLP (corporate), the Magic Circle firm also lost a disputes and regulatory enforcement partner to elite UK disputes boutique Pallas Partners LLP.   Firms with highest attrition in London (laterals only) March – April 2024: • Linklaters - 4 • Curtis, Mallet-Prevost, Colt & Mosle LLP - 3 • Dechert LLP - 3 • Allen & Overy - 2 • Gateley Legal - 2 • Morgan, Lewis & Bockius LLP - 2* • Reed Smith LLP - 2 • Travers Smith - 2 • Weil, Gotshal & Manges LLP - 2 * Both partners exited the firm in 2023. Paul Weiss 2.0 - an abusive relationship with London’s Big Law elite. The past two months have seen Paul Weiss continue its rolling assault on London’s Big Law aristocracy by snatching two more Magic Circle corporate laterals – this time from Linklaters and Clifford Chance respectively. The additional hires mean that last years’ most prolific hirer of lateral partners in London has chalked-up no fewer than 19 laterals since August last year from: Kirkland & Ellis (11); Linklaters (4); Clifford Chance (3) and Ropes & Gray LLP(1). Whilst outside the scope of this publication – which is limited to London partner hires only - it is emblematic of the Wall Street firm’s European ambitions that, in April, it announced its intention to launch its first continental European office with the hire of two Brussels-based anti-trust laterals from Macfarlanes and Simpson Thacher & Bartlett LLP respectively. Also of note in this edition: • 41% of all hires (34) were female. • 25 lawyers (30%) were elevated to partnership from other law firms. • 1 firm hired from in-house: Mayer Brown (from KPMG). Read our full analysis, which details every single move, in our latest edition of the publication of record: https://lnkd.in/exTH4zbm #legalrecruitment #lawyer #biglaw #londonlawyers

📈 The Rise of Non-Equity Partnerships in Law Firms 📈 As law firms evolve, non-equity partnerships have become more common, offering lawyers prestige and career advancement without an ownership stake. Today, 86% of the top U.S. law firms have non-equity tiers, a sharp increase from 30 years ago. This shift provides flexibility in talent retention and a path for associates to develop business skills while still being rewarded with a partner title. However, critics argue that it can "cheapen" the brand of being a partner. Some firms embrace non-equity models for profitability, but others remain committed to equity-only structures. 🔗 Read more on this growing trend here: https://lnkd.in/exiSeez2 #legalcareers #lawfirmtrends #nonequitypartner #legaltrends #firms #legalfirms #attorneys #legaljobs #legalroles #legalrecruitment #legalrecruiters

Cheat Codes to Building a Global Law Firm Yesterday, the latest Law.com International ranking of Africa’s largest law firms was released, based on headcount. Now, let’s be clear—team size and profitability don’t always go hand in hand. In fact, one firm that didn’t even make the list posted double-digit profit growth last year. That’s why many people view profit per equity partner (PEP) as a better gauge of real growth. Still, headcount does tell a story. A large team suggests the firm’s ability to handle high overheads, attract and develop talent, and build a formidable brand. This can be a serious selling point in markets dominated by solo practitioners and mid-size firms. But let’s get to the main point. A few weeks ago, we published the Global 200 ranking. The smallest firm on that list had around 525 lawyers. I started to wonder: could a couple of African firms make it onto that list? It’s ambitious given the current market, and it will take time—but it’s not impossible. ENS and Bowmans (Law Firm), which topped Africa’s Top30 chart yesterday, have 515 and 503 lawyers, respectively. Both firms have led this ranking for years. They share a few things in common—beyond being major South African firms. Both have leveraged mergers and expanded into multiple countries to build a regional brand. It’s a process. So, let’s talk about the “cheat codes” for growth: mergers and combinations. Although there’s limited transparency around firms’ financials, here are a few theoretical suggestions (firms named here are for illustration only—no inside knowledge on my end). 1. Geography-based mergers Two large South African firms might hesitate to merge, but partnering across borders can be strategic. Bowmans (Law Firm) and Cliffe Dekker Hofmeyr Inc are strong in South and East Africa. To penetrate West Africa, they could consider firms like TEMPLARS, AELEX or Jackson, Etti & Edu. For North Africa, Egypt’s Zaki Hashem, Attorneys at Law or Matouk Bassiouny could be a strong partner. ALN, a regional network with a strong presence in Kenya and Nigeria, already collaborates with firms in South Africa—perhaps it’s time to consider an alliance with a top-tier South African firm like STBB or Webber Wentzel. 2. Practice-based mergers Another approach could be merging with firms that have strong niche practices, particularly boutique firms. For instance, firms looking to enhance their IP capabilities might consider teaming up with Adams & Adams or KISCH IP. Some boutique firms may hesitate to integrate due to brand visibility concerns but the right partnership can be mutually beneficial. I know working out an arrangement is not as simple as I have laid it out but a firm leader once told me, it all starts with the thought of it. What do you think? Let’s discuss in the comments! Link to full story on the latest ranking in the comment box. #Law #Media #Africa

Biggest US law firms hired fewer diverse candidates amid DEI backlash Data shows a decline in number of ethnic minorities hired last year as legal challenges to diversity schemes mounted Leading US law firms hired hundreds fewer ethnic minority candidates last year, as the sector faced a series of legal challenges over its diversity schemes. An analysis of successful candidates’ biographies, carried out by research group Leopard Solutions, found the number of diverse entry-level hires in the top 200 American firms dropped from 2,371 in 2022 to 2,049 last year. The number of experienced lawyers from ethnic minority backgrounds brought in by the firms fell even more precipitously, from 2,790 to 1,879. “Ethnic diversity hiring took a hit in 2023 as the overall atmosphere surrounding DEI (diversity, equity and inclusion) initiatives became fraught in legal and political contexts,” the authors of the Leopard report said. The firms in question “saw an overall 23 per cent decline in lateral hiring, but the decline in ethnically diverse lateral hiring was 31 per cent”, they added. She added that the numbers were also troubling because “the diversity of each year’s summer associate cohort is highly correlated to the diversity of graduates entering private practice the following year and the growing diversity of associates overall, which is of course the pipeline for increasing diversity among law firm partners”. The fightback over diversity criteria has also reached the federal judiciary, with Republican senators writing to the chief judge of the US Court of Appeals for the Seventh Circuit to challenge efforts by some judges to provide more opportunities for women and minority lawyers to present oral arguments.

August 2024 Legal Industry News Updates: Law Firm Hiring and Expansion, Industry Awards and Recognition, #DEI and Women in Law https://bit.ly/3M88TVG #womenlaw #legalnews