Amid Lateral Hiring Frenzy of the New Year, These Firms Had the Biggest Gains
The new year has brought increased lateral movement among BigLaw lawyers, swelling the ranks of some law firms and bringing decreasing counts at others.
The three firms that come out on top for the first two months of the year are DLA Piper, Littler Mendelson and Bracewell & Giuliani, according to a “not-quite-scientific” tally by the Am Law Daily. The firms seeing the greatest losses are Vinson & Elkins, Greenberg Traurig and Dewey & LeBoeuf.
The Am Law Daily acknowledges that its list measures quantity and does not account for quality. The publication created a point system for its tally, giving one point for a partner hired and a half point for a counsel, of counsel, senior adviser, or specialist. Loss of such people carried an equivalent deduction. Mergers counted as lawyer acquisitions; Luce, Forward, Hamilton & Scripps was excluded from the list because of multiple defections in advance of a looming merger.
DLA Piper lost lawyers in Los Angeles, but picked up lawyers with the opening of a Mexico City office, an expansion in Florida and California, and the acquisition of an energy team in Washington, D.C., the story says. Littler Mendelson gained lawyers mostly through a merger with a Memphis law firm. And Bracewell gained with the acquisition of Vinson’s public finance practice.
Most of Vinson’s losses are the result of the loss of the public finance team, which left due to conflicts issues, the story says. Greenberg Traurig expanded in Mexico City, but lost lawyers in several other cities. Dewey & LeBoeuf, which is planning layoffs, lost 16 partners in two months, but gained eight partners in South Africa.
The story lists additional big gainers and losers, as well six firms that held the line.
Additional coverage:
ABAJournal.com: “Stats Confirm BigLaw Lateral Hiring Is Picking Up; Is It ‘Driven by Desperation’?”
ABAJournal.com: “Is Lateral Hiring Frenzy by BigLaw Creating a Bubble?”
