JD Journal » Reed Smith

Reed Smith Launches European and Middle East Private Equity Practice

rebneely — Fri, 16 Dec 2011 08:00:38 +0000

International law firm Reed Smith announced Perry Yam will join the firm as a partner to launch a European and Middle East private equity practice. He will be the head of the practice.

Yam joins the firm from SJ Berwin, where he was a partner in the firm’s corporate department.

James Wilkinson, head of Reed Smith’s EME Corporate Group was quoted as saying in a press release at the firm’s website: “Perry’s appointment represents a significant step forward for our private equity practice in London, with his renowned expertise able to take our corporate and transactional practice to new heights. Creating a comprehensive, global private equity offering is a vital component of our long-term strategy for the corporate group, and Perry clearly has the energy and experience to the lead the development of a stronger European team around our existing capability in London and Paris to complement our already robust U.S. and Asian offering.”

Yam has a well-respected venture capital practice, and he advises on both technology and life science investments. The Legal 500 describes him as “the most prolific advisor to VC Funds in London.” Too, Yam has a broad range of experience, spanning all facets of the private equity industry, including institutional buyout transactions, buy-and-build strategies, exits/fundraising on AIM and other investment markets, and public-to-private transactions. He has acted for a number of private equity houses operating in the mid-market, advising on transactions in a wide range of sectors including technology, health care and life sciences, financial services, and leisure.

Roger Parker, Reed Smith’s EME Managing Partner was quoted as saying: “Reed Smith’s global footprint, including 23 offices across four continents, puts the firm at the forefront of the marketplace the world over, and particularly within the nexus of global financial transactions emanating from New York, London and Hong Kong. The addition of Perry as a significant pillar of our global private equity offering will further bolster that position. His experience advising firms and management teams within the financial services, technology, and health care and life sciences sectors is perfectly aligned with three of our four key industry groups, providing powerful synergies across the firm, and representing a significant step forward for our global corporate capability within these core sectors.”

Yam was quoted as saying: “I look forward to joining the team at Reed Smith, and leading the charge to further build and enhance its private equity capability across Europe and around the globe. As the industry continues to look further afield for new opportunities, helping to establish a truly global private equity offering at Reed Smith represents an exciting and rewarding challenge, and is a natural next step in my career.”

Global law firm Reed Smith has over 1,600 lawyers in 23 offices throughout the United States, Europe, Asia and the Middle East. Founded in 1877, the firm represents leading international businesses, from Fortune 100 corporations to mid-market and emerging enterprises.

Gibson Dunn & Crutcher Adds Two Prominent Attorneys to Hong Kong Office

rebneely — Tue, 08 Nov 2011 04:21:53 +0000

Yi Zhang and Graham Winter have joined the Hong Kong office of Gibson, Dunn & Crutcher LLP as partners.

Prior to joining Gibson Dunn, Zhang was with O’Melveny & Myers, and Winter will join the firm from Reed Smith Richards Butler. Corporate partner Joseph Barbeau and litigation partner Kelly Austin lead the Hong Kong office, which opened in August of 2010.

Joseph Barbeau, Partner in Charge of Gibson Dunn’s Hong Kong office was quoted as saying in a press release at the firm’s website: “Both Yi and Graham are seasoned, senior lawyers, and their depth of experience in Hong Kong and China will be critical additions to our capacity. Over his 16 years in Hong Kong, Yi has built a well-established, China-focused practice that includes very significant foreign investment, M&A, private equity and project development transactions in China in a wide range of industries. In Hong Kong since 1992, Graham is a Hong Kong-qualified lawyer with a leading Hong Kong practice specializing in advising on complex corporate transactions, including cross-border M&A transactions, privatizations, joint ventures, private equity transactions and international corporate finance transactions. Outside Hong Kong, Graham has extensive experience across the Asia Pacific region, including China, Korea, the Philippines and Indonesia.”

Ken Doran, Managing Partner and Chairman of Gibson Dunn was quoted as saying: “We are extremely pleased to have Yi and Graham join our firm. Yi and Graham are highly regarded in the business and legal communities in Hong Kong and China, and their experience will enhance our ability to field the most complex transactions across most of Asia. Their arrival is another important step forward for our Asia strategy, which is focused on strengthening our Hong Kong and Singapore offices and looking for the right opportunities in China.”

Zhang corporate practice focuses on China, and covers a broad range of transactions, including investment funds, foreign direct investment, mergers and acquisitions, private equity and venture capital, real estate and distressed asset transactions, and large-scale project development and infrastructure. He was formerly the head of O’Melveny’s Hong Kong office.

He has provided representation for multinational companies, commercial and investment banks, and international private equity funds making investments in China and Chinese companies making outbound investments. His clients have included AES, BP, Carlyle, China Development Bank, Citic PE, Darby Asia Investors, D.E. Shaw & Co., Deutsche Bank, Dow Chemical, Export-Import Bank of China, General Electric, Goldman Sachs, Guangdong Dapeng LNG Company, JPMorgan, Morgan Stanley, SOCAM Development, Sithe Global Power, Temasek, UBS and Yida Group, among others.

In 1992, Winter was admitted as a solicitor in Hong Kong. He has extensive experience in a wide range of complex corporate transactions, including mergers and acquisitions, corporate finance, private equity, capital markets and securities, corporate governance, compliance, joint ventures and restructurings. In particular, he has experience with transactions governed by the Hong Kong Takeovers Code and the Hong Kong Stock Exchange Listing Rules., Winter has experience across Asia, including China, Korea, the Philippines and Indonesia, in addition to his Hong Kong practice.

Winter is recognized as a leading practitioner by various industry publications, including Chambers and Partners, Legal 500 Asia Pacific and Practical Law.

Winter has provided advice on various ground-breaking transactions, including representing SABMiller in relation to its US$750 million proposed takeover of Harbin Brewery, Hong Kong’s first contested takeover under the Hong Kong Takeovers Code. Most recently, he represented PCCW Limited in relation to the proposed spin-off and separate listing of its telecommunications business in the form of a novel structure involving a listed trust, which would be the first listing of its kind in Hong Kong.

Winter has represented multinational companies, commercial and investment banks and international private equity funds. He has also represented PCCW Limited, First Pacific Company Limited, Melco International Development Limited, 3i Group plc, Baring Private Equity Asia Limited, SABMiller and The Royal Bank of Scotland, among others.

Gibson Dunn is planning to convert its Hong Kong office into a local solicitors firm when approved to do so under regulations in force. Until then, in accordance with Hong Kong regulatory requirements, Winter and other solicitors will form a separate firm that will practice in association with Gibson Dunn when approved by the Law Society of Hong Kong.

Morning Roundup

joshua — Fri, 11 Feb 2011 10:53:30 +0000

Good morning everyone! Today is Friday, February 11, and here’s a recap of yesterday’s news…

Fiancial reports for 2010 continue to trickle in, and yesterday we talked about Reed Smith…

The 2012 election cycle is already underway and two more senators have announced their retirement plans…

Cadwalader is going to court to defend itself against a $13 million malpractice claim…

and King & Spalding picked up a 14 attorney team from an Oakland firm…

Revenue and Profits up at Reed Smith

joshua — Thu, 10 Feb 2011 19:49:15 +0000

2010 was a good year for Reed Smith, as revenues and profits, along with other key financial numbers all moved upward. Gross revenue moved up 1.7% and the firm also increased its profit margin by a point. And it managed to do this while increasing head count and billable hours, another indicator that the legal market is beginning to thaw out.

Head count at Reed Smith ticked up slightly, from 1,433 to 1,449 lawyers. Equity partnerships remained flats, but the non equity partner class grew by over 3%. Profits per partner came in at $1.05 million.

Gregory Jordan, the firm’s managing partner, attributed the good year to the firm’s commitment to maintaining strong relationships with clients.

Weekend Review

joshua — Mon, 31 Jan 2011 15:59:18 +0000

Good morning everyone! Today is Monday, January 31, and here’s a quick look back at the end of last week…

Greenberg Traurig terminated a partner caught up in an SEC proceeding…

Kaye Scholer added a partner from Reed Smith…

Patton Boggs increased revenues and profits in 2010…

and DLA Piper is getting set to merge with its Australian partner, DLA Phillips Fox…

Kaye Scholer Bolsters its Corporate & Finance with the Addition of a New Partner

marvins — Mon, 31 Jan 2011 15:38:47 +0000

Kaye Scholer hired former Reed Smith partner, Michael A. Smith, to strengthen its Corporate & Finance practice. Smith will serve as the partner of Kaye Scholer’s Corporate & Finance Department in its office in New York. Smith, who earned his LLB from Queens University in Ontario and his BA from University of Toronto, is expected to advise Kaye Scholer’s US and foreign clients on US securities and corporate law in connection with international financing, cross-border mergers and acquisitions, and un-registered fund formation.

Barry Willner, Co-Managing Partner at Kaye Scholer, said that Smith’s addition is an indication that the firm is aggressively expanding its presence in New York, especially the firm’s Corporate & Finance practice. “Michael’s addition to the firm is the latest in an effort to bring in top talent across practice areas at our firm. With his impressive background and experience in cross-border transactions, Michael will be an asset to many of our clients.”

Michael Solow, Kaye Scholer’s Co-Managing Partner, expressed his excitement over Smith’s decision to join the firm. He noted that Smith, with his vast experience in Corporate & Finance practice, would have a big impact on the firm. “Michael‘s extensive expertise will be a complement to the platform of our Corporate Practice, especially when working on international matters. We look forward to welcoming him to the firm.”

Smith explained that he join Kaye Scholer because of its established reputation in the legal sector. “Kaye Scholer has been diligent in growing its international reach, which gives the firm a real foothold in dealing with today’s recovering global economy. I look forward to working alongside this talented group of lawyers.”

Morning Roundup

joshua — Wed, 12 Jan 2011 17:47:59 +0000

Good morning everyone! Today is Wednesday, January 12, and here’s a look back at the first half of the week…

Dewey & LeBoeuf has a new vacation policy…

Winston & Strawn expanded it’s IP team…

Covington & Burling added a former Washington DC Attorney General…

and merger talks between Reed Smith and Thompson & Knight are off…

Morning Roundup

joshua — Mon, 27 Sep 2010 12:56:42 +0000

Good morning everyone! Today is Monday, September 27th. Here’s a quick look back at Friday’s stories.

Dinsmore & Shohl Welcomes New Partner Michael DiSanto to Corporate Department…

The publisher of The American Lawyer, Corporate Counsel and other legal and business titles, is consolidating its legal research functions into a single organization…

Butzel Long Shareholder was named a recipient of the 2^nd Annual International Mergers & Acquisitions Advisor Award…

London-based firm Kennedy’s opened an office in Miami…

Poll conducted earlier this week by the New York State Bar Association revealed guarded optimism about hiring trends and demand for legal services in 2011…

Dinsmore & Shohl Welcomes New Partner Michael DiSanto to Corporate Department

ashley — Sat, 25 Sep 2010 01:18:26 +0000

Dinsmore & Shohl, LLP is welcoming yet another partner to their steadily growing firm. Michael DiSanto will be will be joining Dinsmore & Shohl’s Corporate Department as a partner and will be a member of the Securities Practice Group at the firm’s office in Cincinnati, Ohio.

With more than 450 attorneys practicing all over the Midwest, Dinsmore & Shohl serves small and large businesses, government offices, and individuals from their 10 offices. They practice in Kentucky, Ohio, Pennsylvania, and West Virginia.

Michael DiSanto is one of the founding partners of the Silicon Valley office of Reed Smith, LLP, one of the 15 largest law firms in the world. There he had a corporate practice where he provided council for companies as well as pro bono work for non-profit groups. Before going to Reed Smith, DiSanto had his hands full as founder, CEO and General Counsel of an Internet company that provided personal training solutions to the health and fitness industry in San Francisco. He also attended Santa Clara University School of Law and Vanderbilt University.

Chair of Dinsmore & Shohl’s Corporate Department Susan Zaunbrecher is pleased with the new hire, “We are very excited to have an attorney of Mike’s caliber join the firm. Mike brings a depth of knowledge in corporate transactions and private equity that will enhance and expand our current capabilities across all of our markets.”

Morning Roundup

joshua — Fri, 24 Sep 2010 10:54:21 +0000

Good morning everyone! Today is Friday, September 24th. Here’s a quick look back at yesterday’s stories.

Reed Smith was brought on as U.S. corporate and securities counsel for China Sun Group High-Tech Co…

Quarterly revenue at Britain’s 100 biggest law firms increased by an average of 5 percent for the three-month period ending July 31…

Arnold & Porter acquired three attorneys from Sonnenschein…

Four Davis Polk partners were named ‘Top Lawyers’ in California…

Troutman Sanders appointed a new managing partner in its Washington, D.C office…

The Best Lawyers in America 2011® will feature 58 attorneys from Winstead PC…

Reed Smith Enlisted by China Sun Group

joshua — Thu, 23 Sep 2010 17:16:29 +0000

Reed Smith has been brought on as U.S. corporate and securities counsel for China Sun Group High-Tech Co., which supplies raw materials for rechargeable Lithium-ion batteries in China.

In its role, Reed Smith will handle U.S. securities filings, compliance work and transactions in the U.S., and will ensure China Sun Group’s compliance with the Securities and Exchange Commission.

According to a press release, China Sun is emerging as one of the world’s leading suppliers of anode materials for lithium ion batteries. The company has made several moves recently to increase its production capacity in order to meet the growing demand for the green technology.

“We are thrilled at the opportunity to work with China Sun Group, especially at this juncture in which it is poised to capture a significant market share in the growing demanding for Li ion battery materials,” said Los Angeles-based attorney Allen Z. Sussman, a partner in Reed Smith’s Corporate & Securities Group.

Sussman will serve as China Sun’s lead outside counsel, and will head the legal team that will guide the company’s disclosure and compliance obligations under SEC and stock exchange rules, as well as its ongoing corporate governance issues, complex securities law matters and capital-raising transactions.

Reed Smith frequently handles cross-border transactions for Chinese companies and foreign companies doing business in China. The firm established a presence in China in 1980 and has become one of the largest law firm’s serving the Asia-Pacific region.

Morning Roundup

joshua — Wed, 25 Aug 2010 12:57:01 +0000

Good morning everyone! Today is Wednesday, August 25th. Here’s a quick recap of yesterday’s stories.

Reed Smith added leading IP strategist Marc Kaufman to its Washington D.C. office…

For four years running, Greenberg Traurig had more attorneys listed in the annual The Best Lawyers in America Guide than any other firm…

Barnes & Thornburg hired Peter Zura as a partner in its IP division…

DLA Piper gained a 5 person IP team from Hogan Lovells…

TEX-ABOTA Inc. named Richard A. Sayles, acclaimed courtroom lawyer, “Trial Lawyer of the Year”…

Reed Smith Nabs Former Nixon Peabody Practice Head

joshua — Tue, 24 Aug 2010 23:06:30 +0000

Reed Smith bolstered its firmwide intellectual property group with the addition of leading IP strategist Marc Kaufman to its Washington D.C. office.

Kaufman joins the firm from Nixon Peabody, where he served as co-chair of its patent practice. He specializes in developing structured procedures for defining and executing IP strategies, which are aligned with clients’ overall business strategies. His work spans a range of technical fields including reconfigurable processors, content aggregation and targeting, digital rights management and database technology.

“Reed Smith is a growing and very successful firm that offers the right practice expertise,” Kaufman said in a press release.. “Its Silicon Valley presence, and firmwide strength in IP litigation, venture and corporate, and media and advertising practices are a perfect fit for my clients needs.”

Reed Smith’s Intellectual Property Group today includes more than 100 lawyers in the firm’s offices in the United States, the United Kingdom, Germany and France.

Overall, Reed Smith has nearly 1,600 lawyers in 22 offices around the world.

Morning Roundup

joshua — Wed, 18 Aug 2010 13:02:17 +0000

Good morning everyone! Today is Wednesday, August 18th. Here’s a quick look back at yesterday’s stories.

Bradley Byrne, a former gubernatorial candidate, joined Jones Walker as a partner…

Cozen O’Connor was hired to regulate BP’s gulf compensation fund…

Texas Rangers Managing Partner Charles M. ‘Chuck” Greenberg moved to Reed Smith…

Former Greenberg Traurig shareholder joined Thompson Hine as a partner…

Texas Rangers Managing Partner Moves to Reed Smith

joshua — Tue, 17 Aug 2010 19:49:40 +0000

Charles M. ‘Chuck” Greenberg, who recently became the new managing partner and CEO of the Texas Rangers baseball club, is transitioning his legal practice from Pepper Hamilton to Reed Smith, where he will serve as counsel.

Formerly a partner at the Pittsburgh office of Pepper Hamilton, Greenberg served as head of the firm’s sports practice and was a past member of its executive committee. He is chairman and founder of the Greenberg Sports Group and recently led the team of investors, which included Hall of Fame pitcher Nolan Ryan, that won a hotly-contested auction to become owners of the Rangers.

In addition to Greenberg, also joining Reed Smith from Pepper Hamilton is Kristin I. Wells. She was a partner at Pepper Hamilton and in her new role will provide leadership in transitioning and managing Greenberg’s practice.

Reed Smith is a global relationship law firm with nearly 1,600 lawyers in 22 offices throughout the United States, Europe, Asia and the Middle East.

Morning Roundup

joshua — Wed, 21 Jul 2010 10:18:34 +0000

Good morning everyone! Today is Wednesday, July 21st. Here’s a quick recap of yesterday’s stories.

BuckleySandler added three attorneys to its practice…

Head of Clifford Chance’s UK fund practice left for Simpson…

A Reed Smith partner committed suicide…

Wachtell topped the Vault Law 100 again…

Kagan’s confirmation was approved by judiciary committee…

Adam Taliaferro joined Duane Morris…

Reed Smith Partner Commits Suicide

joshua — Tue, 20 Jul 2010 23:41:28 +0000

Stewart Dolin, a partner at Reed Smith’s Chicago office, was struck by a train and killed in an incident the Cook County medical examiner’s office has ruled a suicide.

Dolin served as head of Reed Smith’s U.S. corporate and securities group since 2007, but earlier this month the firm promoted another partner to co-head the group. Mike LoVallo, head of Reed Smith’s Chicago office, told the Chicago Tribune the promotion of Paul J. Jaskot of Philadelphia to co-head was the result of the group having grown in size.

According to the Tribune account, 57-year-old Dolin was struck by a Chicago Transit Authority train Thursday and died of multiple injuries. LoVallo offered this statement on the firm’s behalf.

“Stu Dolin was a close personal friend, valued colleague and a great leader in our firm,” LoVallo. “His energy and spirit benefited everyone around him. Stu’s death is a proof and loss to all of us personally and to Reed Smith.”

Dolin’s bio has been removed from the firm’s Web site, but the Tribune reports Dolin graduated from Loyola University Chicago School of Law and began practicing in 1977. He enlisted in 1989 with Sachnoff & Weaver, which merged with Reed Smith in 2007.

Morning Roundup

joshua — Wed, 14 Jul 2010 10:47:10 +0000

Good morning everyone! Today is Wednesday, July 14th. Here’s a quick recap of yesterday’s stories.

DLA Piper was ranked first by deal volume in global mergers and acquisitions in the first half of 2010…

A Cadwalader partner earned M&A Advisor Honor…

Reed Smith added four partners to its energy group…

Brownstein added two new partners to its practice…

The Senate Judiciary Committee delayed a preliminary vote on Supreme Court nominee Elena Kagan…

The Gibson law firm introduced a BP claims service…

Former U.S. Senator and HUD secretary Mel Martinez left DLA Piper for JP Morgan Chase & Co…

Reed Smith Adds Four to Energy Group

joshua — Tue, 13 Jul 2010 19:12:30 +0000

International law firm Reed Smith has announced the appointment of four new partners to its energy, trade & commodities Group in London.

Keith Hartley, Peter Cassidy, Vincent Rowan and Gordon Bell join the firm from Pinsent Masons. They bring to thirteen the number of London based partners in Reed Smith’s energy trade & commodities group. Hartley and Cassidy will join the firm this week and Rowan and Bell will join later in the year.

The four bring experience in major international energy and infrastructure projects – frequently supporting clients in a project counsel role throughout the life of a project from structuring, bidding, documenting and negotiating through to dispute resolution.

Hartley has extensive experience drafting and negotiating major energy infrastructure contracts, particularly in relation to gas and power, including nuclear and renewables. Cassidy focuses on the contractor side of the oil and gas, petrochemicals and power sectors, and Rowan on the owner/developer side of the oil and gas, power and transport sectors. Bell is an international arbitration specialist.

Kyri Evagora, partner and head of the Reed Smith Energy, Trade & Commodities Group commented on the move in a press release:

“The energy and natural resources sectors have enjoyed unprecedented growth over recent years – including through the economic crisis,” Evagora said.

Reed Smith is one of the 15 largest law firms in the world, with 22 offices and nearly 1,600 lawyers in offices across Europe, the Middle East, Asia and the United States.

Morning Roundup

joshua — Wed, 14 Apr 2010 11:52:16 +0000

Good morning everyone! Today is Wednesday, April 14, and here’s a quick look back at yesterday’s stories.

Reed Smith launched an employment law practice in Paris…

McKool Smith upped its headcount in New York…

Vinson & Elkins verified 1st year associates will begin in October…

Adobe is taking Apple to court…

UC Irvine’s law school is considering hiring an ex-con to teach law…

The White House has confirmed a short list of candidates to replace Justice Stevens…

and US firms had big declines in London offices last year…

Reed Smith Launches Employment Practice in Paris

joshua — Tue, 13 Apr 2010 21:41:56 +0000

Reed Smith has launched an employment practice at its Paris office with the appointment of partners Nicolas Sauvage and Caroline Masson, who join from the French firm Courtois Lebel along with four associates and a legal counsel.

Benoit Charot, managing partner of Reed Smith’s Paris office, said the creation of the employment practice is part of the firm’s strategy to expand the Paris office.

“The incoming team is a new step towards the development of our Paris office and we will continue to seize every opportunity to enhance our practice, particularly in corporate/M&A, tax and financing,” Charot said in a press release.

The team is slated to assist clients on a broad range of human resources matters, encompassing both individual and collective working relationships, the firm said in a press release. The focuse will be on advising and guiding French and foreign companies through reorganization, M&A, outsourcing and collective redundancies.

Joining the firm as associates are Stéfanie Oudard, Mélanie Race, Nathalie Marchand and Fernando Teixeira. The new legal counsel is Michaela McCormack.

Reed Smith’s Paris office was created in 2005 with 10 members. It has grown to nearly forty lawyers, including 11 partners.

Morning Roundup

sara — Mon, 08 Mar 2010 14:58:31 +0000

Good morning everyone! Today is Monday, March 8, and here’s a quick look back at Friday’s news…

The Rosen Law Firm files a class action suit against Electronic Game Card,Inc….

Rumors of Chief Justice John Robert’s retirement originates in a law school classroom…

Job losses in the legal sector continue to decline…

Industrial hog producers Premium Standard Farms are required to pay $11 million in damages by the Missouri State Court…

USC delays its Tax LLM program…

A group called “Keep America Safe” runs attack ads against Attorney General Eric Holder and the Justice Department…

The D.C. Appeals Court reverses a wrongful termination suit against Reed Smith…

D.C. Appeals Court Reverses Reed Smith Wrongful Termination Suit

sara — Fri, 05 Mar 2010 21:27:54 +0000

The D.C. Court of Appeals reversed a wrongful termination suit filed by former Reed Smith associate Danielle Cesarano in 2003 according to The Legal Times Blog. Cesarano complained that the firm didn’t sufficiently accommodate a disability she developed when she burned and injured her hand at a Reed Smith trial training program. Cesarano alleged that it was difficult for her to get assignments and meet expectations for billable hours. She was told to bill 200 hours a month by her supervisor if she wanted to stay at the firm. In an affidavit the managing partner of the firm, Douglas Spaulding, stated that Cesarano’s annual chargeable hours were low and that she had received mixed performance reviews. Cesarano lost her position in October 2002.

Cesarano wanted compensatory and punitive damages plus back pay. Reed Smith countered that Cesarano wasn’t disabled during her employment and the statute of limitations barred her allegations. Judge Michael Rankin ruled in the firm’s favor in 2007.

D.C. Court of Appeals Judges Inez Smith Reid and John Fisher, sitting with Senior Judge Warren King, heard oral arguments in February 2009. In their opinion, the court claimed no position on the merits of Cesarano’s case but reversed the dismissed case and remanded it for trial in Superior Court.

U.S. Firms Scale Back London Recruitment According to New Survey

sara — Fri, 26 Feb 2010 15:54:35 +0000

A new survey conducted by “Legal Week” finds that lateral partner hiring by U.S. firms in London fell to its lowest level last year since 2004. Hiring trends at 37 of the biggest U.S. and trans-Atlantic firms show that just 59 lateral partner moves were made in 2009. Many firms were reluctant to expand with a continuing global recession. This figure is a decline of 2008 recruitment levels when there were 77 lateral partner hires, the highest since 2005 (when there were 80).

Greenberg Traurig was responsible for a quarter of all partner hires by U.S. Firms in London last year. Minus Greenberg Traurig’s 15 partner appointments there were just 44 new hires across all remaining firms. The most active firms after Greenberg were Paul Hastings Janofsky & Walker, which hired 8 partners, including a 7 partner team from Cadwalader Wickersham & Taft . Other firms making lateral moves included Mayer Brown and Reed Smith, making five each.

Morning Roundup

joshua — Fri, 29 Jan 2010 12:45:07 +0000

Good morning everyone and TGIF! Today is Friday, January 29. Last night we were saddened to hear of the passing of Robert Joffe, the former presiding partner at Cravath, and extend our condolences to his friends, family and colleagues…

Here’s a look back at the other headlines from Thursday…

The Supreme Court of Nevada has blocked a planto pipe in ground water from the rural areas into Las Vegas on procedural grounds…

The EEOC is taking Kelley Drye to court for age discriminationin a case that could have deep repercussions…

Orly Taitz, queen of the birthers, is back – and talking about running for office…

Andrews Kurth is launching a fixed fee service to help small business get started…

Revenue is down at Reed Smith, but profits are up…

Robins Kaplan is opening in New Yorkwith some lateral moves from Lovells…

Joshua Sable has left Bryan Cave to be general counsel at an HR firm…

Andrews Kurth added three to its DC office…

Chabourne & Parke launch what appears to be the first practice specializing in alternative energy cars…

Nixon Peabody announced a pair of promotions…

And a former associate has brought a discrimination claimagainst Howrey…

Revenue Down But Profits Up at Reed Smith

joshua — Thu, 28 Jan 2010 17:58:58 +0000

Reed Smith had revenue of $942 million in 2009, a four-percent decrease from 2008′s $980 million. But on the brighter side, efforts to reduce expenses resulted in profits per equity partner to rise seven percent to $1 million.

Global managing partner Gregory Jordan called 2009 “a very difficult year” for all law firms.

“For Reed Smith, this included layoffs and redundancies of staff and lawyers, in an effort to reduce the size of the firm to match the reduced need for our services, and other efforts to reduce our costs,” Jordan said in a prepared statement. “However, that was offset by our efforts to reduce expenses. Because of our focus on our long-standing client relationships, our work flow held up relatively well and our productivity increased.”

Other cost-cutting measures launched last year included reducing all US associates salaries by 10 percent; and in November, Reed Smith cut the salaries of incoming associates by 20 percent and lowered their billing rates for work done by new associates. Finally, Reed Smith asked non-equity partners to contribute as much as 15 percent of their base salary to the company or risk losing partnership status.

“It was a really tough year,” Jordan said. “Demand was way down, and we had to make a lot of tough decisions.”

Morning Roundup

joshua — Thu, 28 Jan 2010 13:11:21 +0000

Good morning everyone! Today is Thursday, January 28, and here’s a look back at yesterday’s headlines…

President Obama took on the Supreme Court in last night’s State of the Union…

James O’Keefe’s lawyer says his client was not trying to bug Senator Landrieu’s phones…

Reed Smith picked up two corporate partners in New York…

Four partners jumped from Paul Hastings to Haynes & Boone…

Tipsters report staff layoffsat Brown McCarroll…

Read our pregame analysis of the State of the Union and see what we got right… and wrong…

Sidley Austin added an IP lawyer in San Francisco…

Gregory Craig returned to private practiceand has landed at Skadden…

Four Alston & Bird partners have jumped ship to open their own firm…

Baker & Daniels picked up a senior insurance lawyer….

A Hatian law firm has reopened amid the chaos…

Northwestern Law dovetails on a student loan program mentioned by the President in the SotU…

Scott Rothstein appeared in court and plead guilty yesterday…

McDonough ranks top in the nation on percentage of female partners…

and Boeing has a new chief counsel…

Reed Smith Adds Two

joshua — Thu, 28 Jan 2010 01:22:37 +0000

Reed Smith has added two partners to its corporate and securities group in New York. Michael Smith, whose practice focuses on corporate and securities law with regards to international financing moved from Patton Boggs. Kenneth Regensburg, who moved from White & Case, has a practice focused on M&A, public capital markets, private equity, and venture capital.

Founded in 1877, Reed Smith LLP employs 1500 attorneys in 23 cities worldwide. The firm counsels 28 of the top 30 US banks, and 10 of the world’s 12 largest pharmaceutical companies. In addition to the United States, Reed Smith has offices in the United Kingdom, continental Europe, Asia and the Middle East.

Morning Roundup

joshua — Tue, 17 Nov 2009 13:52:17 +0000

Good morning! It’s Tuesday, November 17, and here’s a look back at yesterday’s news.

The Chicago school district has been ordered to allow students immediate transfers in the wake of the killing of a student…

Proskauer Rose has a new class of partners…

Jackson Lewis opened a new office in Cincinnati…

Merger talks continue, but partners at Hogan & Hartson and Lovells have settled on a name….

and Reed Smith is asking non equity partners to cough up…

Reed Smith Asks Non Equity Partners for a Tithing

joshua — Mon, 16 Nov 2009 18:37:38 +0000

Render unto Caesar what is Caesar’s, or so the expression goes. Now Reed Smith is asking much the same of its non equity partners. Non equity partners are being asked to contribute as much as 15% of their base salary to the company or risk losing partnership status. Gregory Jordan, the firm’s chairman, had this to say about the plan. ““It’s about not just saying you’re a partner, but actually being one. It means something. It revolves around risk-sharing in the business.” Jordan defended the move, saying that it isn’t a means to get a quick cash infusion into the company, and going on to say that Reed Smith is having “a very strong year”.

A very strong year? That doesn’t square up with the history.

In March, Reed Smith laid off 100, 26 lawyers and 74 staff.

In May, Reed Smith cut all US associate salaries by 10%.

In August, Reed Smith cancelled on campus interviews at Fordham law at the last minute, prompting the school to ban Reed Smith from on campus recruitment for five years.

Last week, Reed Smith cut the salaries of incoming associates by 20% and lowered their billing rates for work done by new associates. This came two weeks after announcing a plan to move away from lock step.

If this is a very strong year, I would hate to see what things look like in a bad year.

Morning Roundup

joshua — Wed, 11 Nov 2009 18:13:49 +0000

Today is Wednesday, November 11. At 11 am on November 11, 1918, all fighting stopped in World War 1 and Woodrow Wilson proclaimed the day Armistice Day. It wasn’t until Veterans started to return from World War 2 that the day became a day to celebrate all of our vets.

Here’s a look back at yesterday’s news…

Scott Rothstein was spotted and filmed having lunch and sounding upbeat…

Covington & Burling are freezing associate salaries…

Katten split its deferrals into three groups, with group number three losing their jobs…

Reed Smith cut associate salaries….

and the DC Sniper was executed by lethal injection last night….

In memoriam for Veterans Day:

Michael Cahill

Eduardo Caraveo

Justin DeCrow

John Gaffaney

Frederick Greene

Jason Hunt

Amy Krueger

Thomas Nemelka

Michael Pearson

Russell Seager

Francheska Velez

Juanita Warman

Kham Xiong

Reed Smith Cuts Salaries

joshua — Tue, 10 Nov 2009 17:51:59 +0000

Just a few weeks after announcing it was moving away from lockstep compensation and doing away with associate classes, Reed Smith is cutting associate salaries by 20% for all incoming associates and reducing their billing rates by an equal amount. This move is certain to be popular with clients who are unhappy with paying full rates for new lawyers, in effect paying for on the job training.

Billable hour targets for first year associates have also dropped from 1900 to 1700 so that the new lawyers can take advantage of new training programs.

Morning Roundup

joshua — Wed, 28 Oct 2009 15:56:42 +0000

Good morning everyone! Here’s a quick look back at yesterday’s news…

Reed Smith is the latest firm to abandon lockstep compensation…

NAWL has released its annual survey and it’s a good news/bad newssituation for women in BigLaw…

A new law in California guarantees the right to counsel in some civil matters…

Reed Smith Joins the Move Away from Lockstep

joshua — Tue, 27 Oct 2009 21:25:19 +0000

Citing client concerns with billing practices, Reed Smith announced a new compensation plan today. The new plan, which the company cleverly named CareeRS, separates associates into three tiers and three compensation plans based on performance. Associates will either be junior, mid level or senior, depending on how well they have demonstrated “core competencies”.

Offit Kurman Picks up 6 Attorneys from Anderson Kill & Olick

joshua — Mon, 19 Oct 2009 16:26:06 +0000

Six attorneys are leaving Anderson Kill’s Philadelphia office and joining up with Offit Kurman, forming a new insurance recovery practice group there. This leavings Anderson Kill with four attorneys in Philadelphia, coming on the heels of last year’s departure of nine Philadelphia lawyers to Reed Smith. Last year’s move was part of a larger exodus, when 55 lawyers in all moved from Anderson Kill to Reed Smith, following aborted merger discussions between the two firms.

Michael Conley will head up the new practice group for Offit Kurman. He is joined by his co-managing shareholder Mark Gottlieb. Also moving are shareholder Frederick Pettit and associate Darin McMullen, both of whom will be principals at their new firm, and associates William Pillsbury and Meghan Finnerty have joined Offit Kurman as associates.