After losing BigLaw jobs, ex-Skadden associates form own firm, join Dentons as partners
Losing their BigLaw jobs five years ago during a mass layoff in the midst of the Great Recession turned out to be beneficial for two former Skadden, Arps, Slate, Meagher & Flom associates.
Randolph Adler Jr. and Michael Chung founded their own New York law firm in 2009, focusing their practice on advising start-up companies. Now they are joining Dentons, an international corporate megafirm, as partners, reports the Am Law Daily (sub. req.). The acquisition of RK Adler by Dentons is the first merger of 2015 involving a U.S. law firm, the article notes.
“I was 29 when I left Skadden, and it wasn’t like General Electric was coming with us,” Adler tells the legal publication. “So we had to look at the type of markets we could penetrate. I knew some folks on the West Coast who were part of the so-called PayPal Mafia, so it made sense to start a firm focused on the clients of the future.”
When RK Adler was approached by Dentons last year about potentially joining forces, there was a clear benefit for both sides, he says:
“We were finding that some of our clients outgrew us as they got pressure from their boards to move to more ‘brand name’ firms. Dentons wanted to get into more early-stage startup work, so the symbiotic relationship was there for both sides.”
Now his team can continue to represent startups and growing companies, but will have thousands of lawyers in more than 75 offices throughout the world backing them if greater depth is needed as clients expand.
The icing on the cake was that Dentons wanted to keep RK Adler’s cutting-edge office in SoHo, which is now branded as the SoHo Startup and Venture Tech Centre.
“Our focus for 2015 continues to be on innovating within the legal profession. That is why we are excited to welcome Randy, Michael and their impressive team to Dentons, who have demonstrated success in innovating for their clients,” said Mike McNamara, who serves as U.S. managing partner for the UK firm, in a Dentons press release.
“We were attracted to the impressive growth their firm has enjoyed. Bringing their energy together with the strengths of our venture technology practice creates a powerful strategic combination for the benefit of our clients.”
