JD Journal » Sonnenschein

Partners Sit Tight in 2010

joshua — Mon, 07 Feb 2011 18:46:14 +0000

After a fast start, the lateral market for partners cooled substantially in 2010, with the lowest number of partner laterals among major law firms since 2000. The low numbers are attributable to both firms and partners being more cautious; the firms are more cautious about expanding and partners are more cautious about the firms they are joining.

The number of partners that switched firms in 2009 was artificially high, driven by several large firm closures. A full 15% of partner laterals in 2009 came from 4 firm closures. 2010 lacked the high profile closures but had a significant number of partner moves as a result of a few large mergers. The Hogan Lovells merger and the Sonnenschein deal contributed 90 laterals to the yearly total.

Morning Roundup

joshua — Fri, 01 Oct 2010 13:45:08 +0000

Good morning everyone! Today is Friday, October 1st. Here’s a quick recap of yesterday’s stories.

Two former Mintz Levin Partners formed their own Boston based boutique…

The combination of Sonnenschein Nath & Rosenthal LLP and Denton Wilde Sapte LLP – SNR Denton – launched as a top 25 firm by lawyers and professionals worldwide…

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…

Sonnenschein Adds Veteran Exxon Lawyer to Energy Practice

joshua — Fri, 09 Jul 2010 00:10:01 +0000

Long-time senior lawyer at Exxon Mobil Corp., Carter B. Simpson, has joined Sonnenschein Nath & Rosenthal LLP as counsel.

Simpson most recently served the world’s largest publicly-traded international oil and gas company as its senior counsel for antitrust and trade regulation. He will reside in Sonnenschein’s Washington, D.C., office as part of its Energy, Antitrust and Competition, and Global Services practices.

The move comes prior to Sonnenschein’s pending merger with Denton Wilde, which is slated to go live Sept. 30.

“The breadth of our global energy practice, particularly in light of the pending combination to create SNR Denton, continues to demand the type of expertise Carter has mastered in years of service representing the world’s largest oil company,” said Clinton A. Vince, chair of Sonnenschein’s Global Energy practice. “The diversity of his practice across key emerging areas, including antitrust, FCPA, and export control and sanctions is a wonderful complement to our energy sector strength.”

At ExxonMobil, Simpson advised the company on U.S., EU and other international antitrust laws applicable to a variety of business settings. This included information exchanges, benchmarking, standard setting and industry trade matters.

“Sonnenschein’s energy capabilities are extremely impressive and I am very excited to be here in advance of the SNR Denton combination in the fall,” said Simpson. “Energy will be a core strength of the new firm.”

Morning Roundup

joshua — Thu, 24 Jun 2010 11:23:40 +0000

Good morning everyone! Today is Thursday, June 24th. Here’s a quick recap of yesterday’s stories.

Gonzalez Saggio & Harlan opened an office in Atlanta, the fifteenth for the firm…

DLA Piper announced the expansion of its Venture Pipeline Service and online resource center for entrepreneurs….

Cooley’s bankruptcy and restructuring practice earned top honors at last week’s Turnaround Atlas Awards…

Sonnenschein added a former U.S. Treasury tax counsel as a partner in its taxation practice…

Jones Day cut staff in Cleveland…

Bowman & Brooke launched a blog for women executives in law and other fields…

The former co-chair of Mayer Brown’s litigation practice joined Buckley Sandler…

Former U.S. Treasury Tax Counsel Joins Sonnenschein

joshua — Wed, 23 Jun 2010 17:25:21 +0000

Sonnenschein Nath & Rosenthal has added John L. Harrington as a partner in its taxation practice at its Washington D.C. office. Harrington had previously been with the Treasury Department since 2001 and most recently served as international tax counsel from 2007-2009.

Sonnenschein’s taxation practice national chair, Marc D. Teitelbaum, called the addition of Harrington “a coup for our clients.”

“Understanding tax policy on the domestic and international level, as well as its direction, is the key driver for business planning. The level of sophistication and expertise that John brings in this regard is a coup for our clients,” Teitelbaum said.

The addition of Harrington comes prior to Sonnenschein’s pending merger with U.K-based Denton Wilde Sapte, which is slated to go live Sept. 30.

Sonnenschein has more than 700 lawyers in 13 offices in the U.S. and Europe.

SNR Partners Consider Leaving Prior to Merger with Denton

joshua — Mon, 14 Jun 2010 23:33:20 +0000

A week after partners at Sonnenschein Nath & Rosenthal and Denton Wilde Sapte officially approved a merger between the two firms, a major shakeup could be brewing. According to The Lawyer, some partners in a 100-strong group that SNR hired from the dissolved firm of Thacher Proffitt in late 2008 are actively trying to leave the firm.

According to the report, many of the Thacher Proffitt partners received slightly stronger compensation packages than their SNR colleagues and, as a result, resentment grew among the firm’s partnership.

Additionally, the ex-Thacher Proffitt partners were contractually required to remain with SNR through July 1 of this year or face a penalty. Now with that date quickly approaching, speculation is a major exodus could be forthcoming.

While no one at the firm would acknowledge on the record that any such action was being considered, The Lawyer cited unnamed sources in reporting that several senior lawyers had already interviewed with other firms.

The merged firm of SNR and Denton is slated to go live Sept. 30 as SNR Denton. It will be one of the world’s largest firms with more than 1,400 lawyers and professionals operating in 18 countries.

Partners Approve Merger of Sonnenschein and Denton

joshua — Wed, 09 Jun 2010 20:34:37 +0000

The proposed transatlantic merger between Sonnenschein Nath & Rosenthal and Denton Wilde Sapte was approved by the firm’s partnerships Wednesday. The new firm will launch September 30 as SNR Denton and will be one of the world’s largest firms with more than 1,400 lawyers and professionals operating in 18 countries.

SNR Chairman Elliott Portnoy and Denton CEO Howard Morris will serve as co-CEO’s of the combined firm.

“Today’s votes will create a truly international firm that will focus on the needs of our clients and on the quality of our service,” Portnoy said in a press release. “The response of our clients since we shared our intent to combine the firms has been exceptional.”

The combined firm, which will have its largest offices in London and New York, will have complementary practices in eight sectors: Financial Institutions and Funds; Energy, Transport and Infrastructure; Insurance; Real Estate, Retail and Hotels; Technology, Media & Telecommunications; Health and Life Sciences; Manufacturing; and Government.

The press release notes that while the two firms will offer complementary practices, they have distinct geographic footprints that do not overlap and there are no planned office closures. The combination will be structured as a Swiss Verein similar to other professional services and law firm combinations, which are composed of member firms but each operates as a separate legal entity.

SNR was founded in Chicago in 1906, while Denton was established in London in the late 1700s.

Morning Roundup

joshua — Thu, 27 May 2010 12:51:35 +0000

Good morning everyone! Today is Thursday, May 27th. Here’s a quick recap of yesterday’s stories.

Report: Varied Billing Rates Could Provide Bargaining Chip…

Twin Cities Attorney Charged With Embezzlement…

Mintz Levin Awarded Presitgious ABA Pro Bono Award…

Sonnenschein, Denton Agree on Merger…

Sonnenschein, Denton Agree on Merger

joshua — Wed, 26 May 2010 21:04:15 +0000

Sonnenschein Nath & Rosenthal LLP and Denton Wilde Sapte LLP have agreed to merge into a single integrated global firm that will boast approximately 1,400 lawyers in 18 countries.

The combined firm, dubbed SNR Denton, would be one of the top 25 law firms in the world based on size, according to a press release. The merger is subject to a partnership vote by each firm, which is slated for June 9.

SNR Denton’s two largest offices would be in London and New York. The firm will have eight key practice areas: Financial Institutions and Funds; Energy, Transport and Infrastructure; Insurance; Real Estate, Retail and Hotels; Technology, Media & Telecommunications; Health and Life Sciences; Manufacturing; and Government.

SNR chairman Elliot Portnoy and Denton CEO Howard Morris will serve as co-CEO of the new firm.

Morris, who said negotiations on the merger had been ongoing for several months, commented on the move in the release.

“This combination is the next step in our vision to create an elite, client-focused international firm that is about one thing – quality,” Morris said. “Both firms have long enjoyed reputations as being world class, and now together we’ll have the assets and professional resources to carry that forward to new sectors, new practices, and new markets. As one firm, we will be able to serve our clients better.”

Martin Kitchen of Denton and Joseph Andrews of SNR will serve as co-chairmen of SNR Denton.

Trans-global mergers are de rigueur these days in the corporate legal world, reports the Chicago Tribune. Earlier this month, DC based Hogan & Hartson also completed a merger with the London firm Lovell. Look forward to seeing more of these marriages as American firms attempt to gain leverage in the global marketplace.

Founded in 1906, Sonnenschein’s attorneys and professionals provide innovative legal services. It has thirteen offices in the U.S. and Europe, and a global reach throughout the Americas, Asia, Africa and the Middle East. Denton’s founding dates back to the late 1700s in London.

Sonnenschein Lawyer to Head Obesity Initiative

sara — Wed, 17 Feb 2010 14:13:31 +0000

Sonnenschein senior counsel Larry Kocot will the be the interim leader of first lady Michelle Obama’s new health initiative, Partnership for a Healthier America. The focus of the initiative is childhood obesity. The Partnership for a Healthier America wants to facilitate collaboration between public and private entities to provide information about and improve accessibility to healthy food in school and communities, as well as increase opportunities for exercise.

Kocot was contacted in mid January by the first lady’s office. He says of his new position, “A lot of times as an attorney you don’t find work this gratifying, to work on a pro bono project that is so important to the nation. It’s such a partisan world in Washington, but this hits a nonpartisan chord.”

Kocot is a former senior advisor to the administrator at the Centers for Medicare & Medicaid Services. In this role he worked with the pharmaceutical industry to develop the Medicare Prescription Drug Benefit, Part D. Currently he is the deputy director at the Engelberg Center for Health Care Reform with the Brookings Institution. He also served as the general counsel to the National Association of Chain Drug Stores.

Report: Lateral Moves Reach Record Highs in ’09

joshua — Mon, 01 Feb 2010 18:03:23 +0000

Lateral partner moves in biglaw reached an all-time high in 2009, according to The American Lawyer’s annual Lateral Report. In the 12 months ending Sept. 30, 2,775 partners left or joined the biggest firms in the country, which is a 10.6 percent increase over the previous year.

“This was and will continue to be both a buyer’s and a seller’s market,” the report reads. “Firms with cash and daring continue to shop for new talent. Partners with business and a sense of unease put themselves in play. That’s the bright side.

“The sad side is that some of the partners with their resumes on the street are being pushed out by their current firms. And a whole swath of partners moved last year because their firms died.”

According to the report, the global recession likely contributed to the increase in the lateral market. Some firms tried to upgrade their talent pool in what they considered a buyer’s market, “while others used the crisis as an opportunity to clean house at the partner level.”

Litigation partners topped the list with 17 percent of all lateral moves. Banking and finance lawyers accounted for 15 percent of the moves, followed by corporate attorneys (10 percent) and intellectual property attorneys (nine percent).

K&L Gates had the most lateral hires for the second year in a row, while Sonnenschein posted the largest percentage of partner departures.

Morning Roundup

joshua — Mon, 25 Jan 2010 12:50:28 +0000

Good morning everyone! I hope you had a terrific weekend. Today is Monday, January 25, and here’s a look back at Friday’s news.

The plaintiff’s have rested their case in the prop 8 trial, and the defense will begin today…

Cooley Godward thawed out salaries, and we look at the current state of the market rate…

McCarter & English brought on Richard Lucash as special counsel…

A Kirkland & Ellis partner is the new general counsel at Phillip Morris…

Penn State has a new general counsel….

David Antzis was reeleceted as managing partner for Saul Ewing…

Sonnenschein partners saw a 3 percent drop in profits last year…

The FBI issued a warning regarding a scam targeting law firms…

Lamba Legal is representing a gay couple in a suit against the Office of Personnel Management…

Duke and the University of Colorado are offering a degree in entrepreneurial law…

And six attorneys in Winston-Salem have formed a new firm…

Morning Roundup

joshua — Wed, 16 Dec 2009 17:13:07 +0000

Good morning everyone! It’s Wednesday, December 16, and here’s a quick look at yesterday’s news…

Sonnenschein lays off some staff and abandons lockstep compensation….

WilmerHale also ditches lockstep….

Nixon Peabody associates get a last minute deferral…

and the partnerships at Hogan & Hartson and Lovells have approved the merger plans…

Sonnenschein Abandons Lockstep and Cuts Staff

joshua — Tue, 15 Dec 2009 22:30:57 +0000

There are two unconnected stories coming out of Sonnenschein today.

The first is that the firm has made staff cuts 14 days before Christmas. The firm has confirmed the staff layoffs to abovethelaw.com but no details were provided on the number of staff cut. No associates were cut.

The firm also laid out the outlines of its new compensation plan being implemented in early 2010. I say outlines, because important details like base compensation seem to have been overlooked. Like many other firms, Sonnenschein is moving to a three tiered merit based system. The firm says that bonuses based on merit will make up a larger part of associate salaries. Although everyone certainly appreciates a large bonus, it does make financial planning a bit more difficult – particularly when nobody yet knows what the baseline pay will be.

Sonnenschein Nath & Rosenthal is an international law firm headquartered in Chicago with 13 offices and 800 attorneys around the world.

Thursday News Roundup

joshua — Thu, 10 Sep 2009 15:35:49 +0000

Good morning! Here’s a quick recap of yesterday’s top stories…

Katten picked up four litigatorsfrom Hunton & Williams…

Andrew Cuomo and Bank of America continued their public squabble…

Sonnenschein undergoes another round of layoffs….

Merger talks are over between Ice Miller and Greenbaum Doll…

And the Department of Labor is hiring 250 investigators…

More Storm Clouds at Sonnenschein

joshua — Wed, 09 Sep 2009 20:24:05 +0000

One week ago we reported on an unknown number of layoffs at Sonnenschein. Today we get word that the firm, whose name is German for “sunshine”, has let go of 10 income partners and as many as 20 other attorneys. No details yet on severance packages.

The cuts came mostly in the real estate and corporate practice areas, which have been particularly hard hit by the economic downturn.

Sonnenschein is an international law firm headquartered in Chicago with 13 offices and 800 attorneys around the world.

Thursday Roundup

joshua — Thu, 03 Sep 2009 16:02:13 +0000

This week the news is coming in spurts. Monday was a slow day, Tuesday busy, and Wednesday things slowed down again. If today stays true to form it should be another fast paced day so check back here often!

Here’s what happened yesterday…

Kirkland & Ellis announced layoffs…

There’s speculation that Justice Stevens may be getting ready to retire from the Court…

and Sonnenschein makes some cuts…

Layoffs at Sonnenschein

joshua — Wed, 02 Sep 2009 20:16:13 +0000

A spokesman for Sonnenschein Nath & Rosenthal confirmed today that the firm has laid off some associates but has not verified a number. This comes on top of the companies decision back in May to reduce base salaries for associates and move toward a performance based compensation plan.

Sonnenschein is meeting with its staff later today but there are no staff layoffs anticipated.

Sonnenschein is an international law firm headquartered in Chicago with 13 offices and 800 attorneys around the world. They have a general practice covering most areas of law.

Lathrop & Gage Hiring for New Chicago Office

Erik Even — Tue, 21 Jul 2009 16:21:46 +0000

Lathrop & Gage has hired two Sonnenschein partners to launch its new Chicago office, its 11th — and plans “aggressive recruiting.”

Blaine Kimrey will be managing partner in Chicago, joining Lathrop’s intellectual property practice. He is joined by associate Bryan Clark.

The oldest law firm west of the Mississippi River, Kansas City, Missouri’s Lathrop & Gage provides litigation and business law services with 300 attorneys in 11 offices in Kansas, Missouri, Illinois and Washington DC.

Sonnenschein Sued Over Attorney Hires

Erik Even — Wed, 10 Jun 2009 17:26:59 +0000

Sonnenschein, which brought on three lawyers from Huron Consulting, has been sued by the Chicago-based firm, claiming the attorneys were illegally recruited. Huron seeks $30 million.

The three lawyers are Sonnenschein health care managing director Nancy Freeman, compliance director Judy Ringholz, and Linda Robinson.

The suit accuses Sonnenschein health care partner Lisa Murtha, a former Huron employee, of arranging the recruitment of the three lawyers from her former company. Huron claims that Sonnenschein is a direct competitor to its health care consulting business.

Huron accuses Murtha of directing the employees to steal the firm’s data and clients. The suit alleges breach of fiduciary duty, violation of trade secrets laws and computer fraud.

Chicago’s Huron Consulting has 20 offices, including in Jordan, Dubai, Saudi Arabia, Japan and Singapore.

Sonnenschein Nath & Rosenthal LLP is an international law firm with 700 lawyers and other professionals in the United States and Europe. Founded in Chicago in 1906, it has 14 offices in the US and Europe.

Seyfarth Shaw Poaches Team from Sonnenschein

Erik Even — Fri, 27 Mar 2009 17:59:11 +0000

A group of five trusts & estates attorneys is defecting from Sonnenschein’s Los Angeles office to Seyfarth Shaw.

The group is led by partner Alan Yoshitake, a resident in the business service group. Yoshitake is joined by Mark Hansen and Edward McCaffery, both of counsel, and two associates.

Seyfarth Shaw employs over 750 attorneys located in nine offices throughout the United States including Chicago, New York, Boston, Washington DC, Atlanta, Houston, Los Angeles, San Francisco and Sacramento, as well as Brussels, Belgium.

Fulbright and Jaworski Add Two Partners

Erik Even — Mon, 02 Mar 2009 22:02:14 +0000

Two corporate lawyers recognized for representing private equity and venture capital funds, investment banks and Fortune 500 companies in a full range of transactional activity have joined Fulbright & Jaworski.

Michael Flynn and Thomas L’Helias join as partners in Fulbright’s New York office. They were formerly at Sonnenschein Nath & Rosenthal LLP.

Flynn mainly represents private equity funds, venture capital funds and growth stage companies. He regularly advises on public and private debt and equity financings, mergers, acquisitions, divestitures, recapitalizations, joint ventures, roll-ups, going private transactions and licensing arrangements in the information technology, life sciences, financial services and telecommunications industries. His work on behalf of venture capital funds nationwide is recognized by Chambers USA, where clients described Flynn as “outstanding in his industry knowledge”

L’Helias regularly represents large financial institutions and funds in complex principal transactions. He also regularly advises clients on mergers, acquisitions, joint ventures, going-private transactions, public and private offerings of debt and equity and general corporate and compliance matters.

“Mike and Tom bring sophisticated corporate experience, excellent client skills and a team approach that nicely complements our corporate practice strengths,” said Steven B. Pfeiffer, the Chair of Fulbright’s Executive Committee.