After Difficult Year, Latham & Watkins Announces 23 New Partners
Posted Nov 5, 2009 12:24 PM CDT
By Debra Cassens Weiss
Latham & Watkins has promoted 23 associates to partner, about 25 percent fewer than last year. Still, the number outpaces promotions at a few other law firms that have announced new partners.
Eric Bernthal, managing partner of Latham's Washington, D.C., office, told The BLT: The Blog of Legal Times that the promotions are a show of confidence. "These promotions show that we are prepared to vote on talents, not on short term economics," Bernthal told the BLT. The firm promoted 23 associates to partner and 13 to of counsel.
The move follows a difficult year for Latham. In 2008, the law firm lost 444 lawyers, the story says, and in February 2009 the firm laid off 190 associates. Its profits per partner have dropped by about 20 percent.
Kirkland & Ellis has promoted 51 to partnership, but two other firms have smaller classes, the story says. Sullivan & Cromwell elevated five associates to partner and Covington & Burling promoted 10.