Sullivan & Cromwell recently announced it has launched a law practice in Hong Kong.

Joseph C. Shenker, Chairman of Sullivan & Cromwell was quoted as saying in a press release at the firm’s website: “S&C has been committed to the Asia-Pacific region for many decades, with an integrated practice advising clients in their inbound and outbound investments, M&A and capital raising activities. Having the ability to offer clients advice under Hong Kong law is a natural extension to our diversified, global practice.” 

The Hong Kong office was established in 1992, and possesses a strong team of lawyers, including partners William Chua, Michael DeSombre, Kay Ian Ng, Chun Wei and Gwen Wong.   

As well, S&C established its Beijing office in 1999 and was among the very first top-tier Wall Street firms to have an office in China. Together, these offices serve clients in Greater China and throughout Asia.

Joseph C. Shenker’s practice covers a wide range of areas. These include his extensive experience in negotiated mergers and acquisitions (public and private); domestic and cross-border joint ventures; the representation of private equity investors and family investment offices in the Americas, Europe and Asia; securities offerings; private and public financings; commercial real estate; and tax and estate planning. As well, he serves as a personal adviser to many of the world’s most active and influential business leaders and families.

S&C is committed to clients and transactions in Asia, which have formed an important part of our practice since the 1920s. The firm is recognized as a leader in the region’s capital markets, M&A, private equity, privatization and project finance work. Clients located in Asia make up over 20% of S&C’s non-U.S. clients; the firm’s Asian clients are located all over the region, mainly in Greater China and Japan, and also in India, Indonesia, Malaysia, the Philippines, Singapore, South Korea and Thailand.

With over thirty lawyers in our Tokyo, Hong Kong and Beijing offices, the firm provides expert legal counsel on corporate finance, M&A, private equity, real estate and project finance matters. S&C’s Asian practice has been widely recognized for its excellence and service to clients, and the firm regularly advises on the landmark transactions in the region.

The firm has been consistently recognized for its work in Asia. This includes IFLR’s “China Practice of the Year” in the IFLR Asia Awards, “ALB Deals of the Year Japan Awards,” “Equity Capital Markets Law Firm of the Year in Asia” by IFLR, “Capital Markets Law Firm of the Year in Asia” by AsiaLaw, and “M&A Law Firm of the Year in Asia” by IFLR.

The firm clients include many of the major companies, governmental and sovereign entities, and leading international and domestic investment and commercial banks in the region. As well, clients include a wide range of multinational corporations, financial institutions and private equity firms.

Sullivan & Cromwell is an international law firm headquartered in New York. The firm has approximately 800 lawyers in 12 offices, located in financial centers in the United States, Asia, Australia and Europe.

• Merger of King & Wood and Mallesons Stephens Jaques Creates Largest Law Firm in Asia
• DLA Piper Adds Pair of Attorneys to Beijing Office
• DLA Piper Open for Business in Australia
• Proskauer Opens Office in Beijing; Effort Underway Since 2008
• Morning Roundup

Richard Morrissey, who previous led Sullivan’s global private equity group, believes that Sullivan & Cromwell’s new management line-up is a harsh punishment to its American offices. He believes that practices from London will translate poorly in the US, where partners are free to develop business strategies that are not solely based on profit.

Read the full article here:

Sullivan inflicts ‘punishing’ schedule on new City chief

• Sullivan & Cromwell Launches Law Practice in Hong Kong
• GSI Commerce Being Purchased by eBay for $2.4 Billion
• AT&T Will Use Sullivan & Cromwell in $39 Billion Purchase of T-Mobile USA
• Cravath to Give Special Spring Bonus to its Associates
• Dewey Announces 7 New Partners

On Monday, March 28, eBay Inc. announced its plans to buy GSI Commerce for $2.4 billion.  GSI Commerce is a Pennsylvania based company that provides online marketing services and operates websites for 180 retailers, including Toys R Us, Ace Hardware, American Eagle Outfitters, and Bath & Body Works.

Advising eBay is Dewey & LeBoeuf, with Keith Flaum, its Mergers and Acquisitions partner from Silicon Valley, leading the team.  Flaum has advised eBay previously in 2010 and 2009.  Several other partners that are also advising eBay with Flaum include: Jane Ross and Rick Climan, M&A Partners; Eric Reifschneider and Robert Finkel, technology transactions partners and counsel Spencer Wood; David Smith, corporate partner; Greg Owens, finance partner and counsel Patti Marks; and employment partner Mitch Pahl.  The general counsel for eBay is Michael Jacobson.

GSI was advised by Morgan, Lewis & Bockius, with a team led by finance partner Richard Aldridge.  Aldridge was assisted by Robert Gooding, litigation partner; Harry Robins, antitrust partner; Paul Gordon, tax partner; Joseph Ronan, employee benefits senior counsel, as well as partner Amy Kelly; Ron Dreben, Kenneth Davis, and Louis Beardell, IP partners; and Howard Kenny and Justin Chairman, finance partners.  GSI’s primary in-house attorney was it’s own vice president and general counsel, Arthur Miller.

GSI is also being given counsel by Davis Polk & Wardwell.  The team from Davis included Rachel Kleinberg, tax partner, Daniel Kelly Jr. and Julia Cowles, corporate partners, and Dennis Glazer, litigation partner.  The CEO of GSI, Michael Rubin, is being advised by Sullivan & Cromwell, led by John Savva, corporate governance partner.

Weil, Gotshal & Manges are advising Morgan Stanley, which is GSI’s financial adviser in this deal.  Michael Aiello, corporate partner, is leading that firm’s team.

Although the agreement has been signed, there is a now going to be a waiting period of 40 days so that GSI can consider other bids.  If the deal is approved by GSI shareholders and receives regulatory approval, it should close sometime in the third quarter.

• Survey: Skadden is Nation’s Top Firm Again
• Debevoise Reports Revenue Up
• ConAgra Being Represented by Davis Polk in $4.9 Billion Ralcorp Bid
• AT&T Will Use Sullivan & Cromwell in $39 Billion Purchase of T-Mobile USA
• Dickstein Shapiro Adds Twelve Attorneys to M&A & Private Equity Practices

AT&T has plans to buy T-Mobile USA from Deutsche Telekom for $39 billion.  The lead firms that are going to be representing AT&T and Deutsche Telekom are Sullivan & Cromwell and Wachtell Lipton Rosen & Katz.

Sullivan and Cromwell is using a team led by New York partner Joseph Frumkin and LA partner Eric Krautheimer, which is giving advice to AT&T on the deal.  LA partner Hydee Feldstein is giving advice to the company on financing, while Frankfurt corporate partner Wolfgang Feuring is in charge of any German law matters.  Two other partners from New York are also part of the team.  These two partners are Andrew Mason, tax partner, and benefits/executive compensation partner, Matthew Friestedt.  Regulatory advice is also being given to AT&T by Crowell & Moring and Arnold & Porter.

Wachtell Lipton Rosen & Katz is representing Deutsche Telekom in the deal.  The firm is being led by corporate partners Steven Cohen and Adam Emmerich.  Two other firms, Cleary Gottlieb Steen & Hamilton and Wiley Rein are also giving advice to Deutsche Telekom.

An equity stake in AT&T will be given to Deutsche Telekom as part of the deal, and a representative from Deutsche Telekom will join AT&T’s board of directors.

Although AT&T and T-Mobile have approved the deal in both of their company boards, if this goes through, it will create the biggest cellular carrier in the United States.  Combining T-Mobile USA’s 34 million subscribers with AT&T’s 95.5 million will push them above Verizon’s 94.1 million subscribers.

According to the Wall Street Journal, this deal is likely going to be of “particular concern to antitrust enforcers because the industry’s two dominant companies – Verizon Wireless, a joint venture of Vodafone Group PLC and Verizon Communications, and AT&T – are already so far ahead of anyone else, raising the specter of an effective duopoly in mobile telephony.”

According to the companies, this deal will provide both parties with “an optimal combination of network assets to add capacity sooner than any alternative, and it provides an opportunity to improve network quality in the near term for both companies’ customers.  In addition, it provides a fast, efficient and certain solution to the impending exhaustion of wireless spectrum in some markets…”

In “approximately 12 months” the deal is expected to close, according to a statement from AT&T.  If the deal does not end up going through, AT&T will pay a $3 billion breakup fee.

• Report: Women Still Not Making Partner
• 7 States Join DOJ Lawsuit Against AT&T – T-Mobile Merger
• Antitrust Suit Filed By DOJ Against T-Mobile USA-AT&T Deal
• GSI Commerce Being Purchased by eBay for $2.4 Billion
• Cravath to Give Special Spring Bonus to its Associates

However, Cravath has set the bar higher as it revealed that its special bonuses would be significantly higher than the bonuses provided by the other firms announcing spring bonuses. For instance, Cravath’s payments to fourth-year associates are $15,000, an amount that is $5,000 higher than the extra payments to fifth years at the other three firms. Fifth through seventh year associastes at Cravath  will receive payments of $20,000 as compared to the other three firms which announced that their fifth, sixth, and seventh-year associates would receive $12,500, $15,000 and $17,500, respectively.  Payments for part-time lawyers will be on a pro-rated basis.

• Report: Women Still Not Making Partner
• Debevoise Reports Revenue Up
• AT&T Will Use Sullivan & Cromwell in $39 Billion Purchase of T-Mobile USA
• Dewey Announces 7 New Partners
• Lawyers on Part-time Schedule Climb

Steven Davis, chairman at Dewey, said that the moves have been under negotiation for the past few months as part of the firm’s expansion. “Ever since the [Dewey Ballentine/LeBoeuf Lamb] merger, we’ve had our program in place to build up key practice areas with the highest quality people we can find” Davis noted that the seven additional partners will boost the firm’s key practice areas such as global energy practice. “The additions of Hopkins and Otillar are expected to boost Dewey’s global energy practice–Hopkins has represented Middle Eastern-based oil and gas companies, as well as the Turkish government, while Otillar has handled energy acquisition and renewable energy projects in China, Brazil, and Latin America.”

Jeffrey Kessler, chairman of the firm’s global litigation department, expressed his excitement over the latest news. He said that more and more partners are being attracted to join Dewey due to the firm’s unique qualities that set it aside from other law firms. “There are three or four things we think make us unique. We have a major presence in the largest financial sectors, we make sure we have a strategic presence in the most important jurisdictions worldwide, we have a major emphasis on technology from a global side, and we have a balance between litigation and corporate, as well as a sector emphasis on key areas like energy, green issues, and financial issues relating to insurance. There are a lot of firms that have a few of those pieces, but it’s hard to find another firm that has all those pieces.” Kessler added that Dewey is still in talks with other partners from different firms, but didn’t elaborate on the details. “I don’t think this will be the last announcement we make during this first quarter. We hope to announce comparable additions in other areas and we’re very excited about the quality of people that want to come to our firm.”

• Vice Chairman at Howrey Departs for Dewey & LeBoeuf
• Two Former Senators Join Arent Fox
• Dewey Introduces a New Vacation Policy
• Cravath to Give Special Spring Bonus to its Associates
• Patton Boggs’ Profits and Revenue Show Slight Increase

We can only hope that Cravath isn’t as influential at setting the market rate this year.  Cravath will be paying bonuses that look identical to Sullivan’s 2009 scale – that is to say, no different from their own 2009 bonuses unless you are a 7th year associate.  First year associates will receive $7,500, senior associates will get $35,000 and everyone else falls somewhere in between.  AM Law has the full bonus scale and a copy of the firm’s memo here.

Obviously 2009 was a difficult year for the legal industry, as it was for the rest of the economy, but most signs indicate that 2010 was a vast improvement.  We had hoped to see that reflected in bonuses for the year.  It’s possible that other firms will buck the Cravath scale, even though very few did last year, but according my magic 8-ball the outcome is doubtful.  Skadden has already followed with an identical bonus schedule.

• Morning Roundup
• Morning Roundup
• Boies Schiller Leads the Bonus Race
• Is There a New Standard for Bonuses?
• Two More Firms Match Cravath on Bonuses

Joining the firm from Mayer Brown is partner James T. Parkinson; counsel Adam Miller and associate Lauren R. Randell. Also joining the practice group as counsel is Joseph J. Reilly, who previously served as special counsel at Sullivan & Cromwell’s Washington D.C. office.

The additions from Mayer Brown comes a month after BuckleySandler raided Mayer Brown for a three-person team of litigators that included David S. Krakoff, the former co-chair of Mayer Brown’s white collar litigation practice.

Firm Co-Chair Andrew L. Sandler explained the moves in a press release.

“We have made strategic decisions to bring in top-notch White Collar lawyers to assist our clients nationally as they tackle the challenges arising from increased scrutiny and an ever-changing regulatory and enforcement environment,” Sandler said. “Jamie, Joe, Adam and Laurie are terrific additions and further strengthen our team of experienced White Collar defense attorneys.”

BuckleySandler’s Criminal & Civil Enforcement practice represents leading financial services companies and other major corporations, as well as their officers and directors, in a variety of civil and criminal state and federal enforcement matters in cases involving civil enforcement of fair lending and unfair and deceptive trade practices, mortgage fraud, the Foreign Corrupt Practices Act, mail and wire fraud and environmental crimes.

BuckleySandler has more than 100 lawyers in Washington D.C., Los Angeles and New York.

• Morning Roundup
• Mayer Brown Loses Litigation Co-Chair To BuckleySander
• Morning Roundup
• Sullivan & Cromwell Launches Law Practice in Hong Kong
• New Firm Management by Sullivan & Cromwell is ‘Punishment’

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…

• Wachtell Again Atop Vault Law 100
• BuckleySandler Gains Three Counsel
• Morning Roundup
• Kagan Confirmation Approved by Judiciary Committee
• Adam Taliaferro Joins Duane Morris

The only change in the top 5 was Sullivan & Cromwell leapfrogging Skadden, Arps, Slate, Meagher & Flom for the third spot. In a press release, Vault.com Managing Editor Brian Dalton noted the continuing rise of litigation boutiques in the rankings. As an example, Dalton notes Quinn Emmanuel has jumped from No. 43 in 2008 to No. 19 this year. He theorizes the down economy has allowed boutiques to compete with full-service firms for top students.

“As the Great Recession is well into its litigation phase, litigation boutiques are increasingly competing with the large full-service firms for the top law student talent,” Daltonsaid. “Quinn Emmanuel’s meteoric rise through our rankings reflects the growing success and impact of the boutique model industry-wide.”

The rankings were compiled through an anonymous survey of more than 15,000 attorneys at 165 law firms.

Here is Vault.com’s Top 10:

1. Wachtell

2. Cravath, Swaine & Moore

3. Sullivan & Cromwell.

4. Skadden

5. Davis Polk & Wardwell

6. Simpson Thacher & Bartlett

7. Weil, Gotshal & Manges

8. Williams & Connolly

9. Cleary Gottlieb

10 Covington & Burling

• Morning Roundup
• Weil Gotshal Tops the World in M&A Advisements
• Bonus Season has Begun
• More Bonuses
• AT&T Will Use Sullivan & Cromwell in $39 Billion Purchase of T-Mobile USA

For the second year running, Chambers honored Dechert LLP with the Award for Excellence in Product Liability…

McDermott Will & Emery was selected as Chambers’ Winner For Health Team Of The Year…

Chambers named Ropes & Gray number one in the field of intellectual property for 2010…

Greenberg Traurig received the Chambers award for its Real Estate Practice group…

Sidley Austin was honored by Chambers as the best in international trade…

Chambers presented Skadden Arps Slate Meagher & Flom with its annual Award for Excellence in the Tax Category…

New York based Chadbourne & Parke LLP was honored by Chambers for Excellence in the Energy Projects category…

Chambers awarded Sullivan & Cromwell for its excellence in the field of Energy Projects…

Weil Gotshal’s Bankruptcy Group rated for excellence by Chambers…

Gibson Dunn received Chambers annual Award for Excellence in the Antitrust Category…

National labor and employment firm Fisher & Phillips LLP is increasing its associate pay scale…

Venable LLP was the recipient of the Chambers Annual Award for Excellence in the Advertising and Marketing Category…

• Morning Roundup
• Morning Roundup
• Morning Roundup
• Morning Roundup
• Morning Roundup

Combining expertise across several practice areas, S&C’s Projects Development and Finance group combines deep and current marketplace experience with sophisticated industry knowledge.  The firm is noted worldwide as a leader in oil, gas and mining projects, and has worked on significant projects in South America and in the countries of the former Soviet Union.

Sullivan &Cromwell comprises approximately 800 lawyers that serve its clients around the world through a network of 12 offices, located in leading financial centers in Asia, Australia, Europe and the United States. It is headquartered in New York.

• Chadbourne Receives Chambers Award For Work In Renewable Energy
• Weil Gotshal’s Bankruptcy Group Rated For Excellence
• Gibson Dunn Get Chambers Award For Antitrust Practice
• Sullivan & Cromwell Launches Law Practice in Hong Kong
• Leading Natural Gas Regulatory Attorney Joins McDermott Will & Emery

The lead lawyer in the Goldman Sach’s defense is Richard Klapper, a partner at Sullivan Cromwell since 1987 who has represented several big financial firms to victories in the past.

Reuters describes Klapper as a lawyer who “keeps a low profile…(and) is a fearsome litigator.

The story cites Klapper’s previous wins, which includes a role as a lawyer representing Barclays in 2007 in a class-action suit filed by Enron Corp. shareholders against banks that advised Enron before its collapse in 2002.

“It’s certainly fair to say ‘formidable’ is the right word for him,” Charles Whitehead, a securities law professor at Cornell and former attorney at Sullivan & Cromwell told Reuters.

“He’s diligent and very, very focused,” Whitehead said. He goes on to note Klapper does not have a lengthy biography on the firm’s website because “he does not brag.”

Joining Klapper on the Goldman defense team is Gregory Craig, a former White House Counsel to President Obama who Politico said was brought on to aide in political and legal matters. Craig practices in Washington D.C. as a partner at Skadden Arps Slate Meagher & Flom.

Also part of the defense team, sources told Reuters, is Vince DiBlasi, another Sullivan & Cromwell attorney who has experience representing high-profile individuals in SEC investigations.

The story goes on to note Sullivan & Cromwell is regarded as a “top corporate go-to law firms in the country” that has “a long-standing relationship with Goldman Sachs.”

• Former Linklaters Managing Partner Tony Angel to Join DLA Piper as Co-Global Chairman?
• Jones Day Adds Three Attorneys to New York, Boston Offices
• Cowan, DeBaets, Abrahams & Sheppard Adds Two Partners to Digital Media and IP Practice
• Skadden to Shutter its Office in San Francisco
• Morning Roundup

Of the 118 law firms taking part in the study, 23 had new partner classes that were at least 50 percent female. Topping that list were Sullivan and Cromwell, Munger Tolles and Weil Gotshal, each of which have had partner classes that’s 100 percent female.

On the flip side, 14 firms that have made at least two new partners this year have yet to promote a female.

Cynthia Thomas, director of research at PAR, commented on the survey’s findings in a press release.

“The increase in the number of women promoted to partner is heartening,” Thomas said. “But two factors indicate that celebration would be premature: first, the overall number of women partners in law firms remains low, at approximately 19 percent, and second, this survey made no distinction between equity and non-equity partnership, and other studies have shown that an even lower percentage of equity partners are female.”

The Project for Attorney Retention is a nonprofit organization that studies the advancement of women lawyers and work/life issues for all lawyers. It is headquartered at UC Hastings College of the Law.

• Survey Finds Deep Dissatisfaction Among Women Partners
• Morning Roundup
• Report: Women Still Not Making Partner
• Wachtell Again Atop Vault Law 100
• Bowman And Brooke Launches Legal Divas Blog

According to the report, this will allow firms to make final recruitment decisions after they have a better idea of their year end finances and can more properly asses firm needs for the following year. It will also allow for a better recruitment process than the current one, which is essentially based on a twenty minute interview and a follow up phone call.

The NALP rules are voluntary and there is no official enforcement, but firms that try to circumvent the rules may find themselves banned from doing on campus recruitment at one or more schools. This happened last year when Harvard threatened to ban Sullivan & Cromwell from future recruitment events after S&C wanted students to respond to offers within 14 days instead of the NALP recommended 45 day window.

• NALP Reports Better Employment Outlook for Recent Law Graduates
• Morning Roundup
• NALP Cites Recession as Likely Factor in ‘Historic’ Decline in Law Firm Diversity
• Morning Roundup
• NALP Predicts Weak Jobs Market for Law Grads

Weil, Gotshal & Manges is an international law firm headquartered in New York City. It is one of the largest and most highly regarded law firms in the world, with approximately 1,300 lawyers and gross annual revenue in excess of $1.7 billion.

• More Bonuses
• Bonus Season has Begun
• Hughes Hubbard Thaws Salaries, Issues Bonuses
• Salary Cut at Pillsbury Winthrop
• Kelley Drye Trifecta – Abandon Lockstep, Freeze Salaries, Pay Bonuses

Cravath bonuses were announced November 2nd. Since then Cleary, Skadden, Wilkie Farr, Simpson Thatcher, Davis Polk, Debevoise & Plimpton, and now Dewey & LeBoeuf have matched the same anemic scale. For a few days it looked like there might be a new scale after Sullivan & Cromwell posted a bonus schedule of $5-$35k and Paul Weiss fell in line, but those heady days of $35k for senior associates (everyone else was paid a Cravath sized bonus) seem to be over now.

• Bonus Season has Begun
• Morning Roundup
• Hughes Hubbard Thaws Salaries, Issues Bonuses
• Irell & Manella Doubles Market Rate on Bonuses
• Dechert Pays Bonuses, Cuts (a few) Salaries

Cohen has been a force in mergers and acquisitions of some of the largest banks and companies in recent years, representing Wachovia when it was purchased by Wells Fargo, and JP Morgan when it purchased Washington Mutual. He also represented AIG when the government invested in it.

Shenker joined the firm straight out of law school in 1980, made partner at age 29 and joined the leadership committee at 39. He is a veteran of large corporate real estate deals including the purchase of Canary Wharf and the building of a football stadium in The Meadowlands, New Jersey.

• Pillsbury Gets Five From Orrick
• Weil Gotshal Bonuses
• New Leadership at Weil Gotshal
• More Bonuses
• Layoffs at Schulte Roth

Fried Frank’s New York associates will receive bonuses up to $35,000. These bonuses are based on a number of discretionary factors. The $35k is the same cap that Sullivan & Cromwell and the firms that have followed it are using, but firms on the Sullivan scale base bonuses strictly on seniority. No word yet on what associates outside the big apple can expect.

Ahhh but the bonuses at Boies… Let’s just say that the top bonus for second year associates at Boies is $70k. That should give some idea of the difference in scale between Boise bonuses and the market rate. Boies is using a formula based on revenue generated for the firm and base salary. Bonuses are equal to 30% of the revenue generated, minus base salary. Bill more hours, make more money. Bring in more clients, make more money. As if that’s not enough, Boies is also paying above market rate base salaries, with first years starting at $174k. Oh, and did we mention – first year associates who started after September of this year are getting a $5k bonus.

• Weil Gotshal Bonuses
• Bonus Season has Begun
• Salary Cut at Pillsbury Winthrop
• Morning Roundup
• Milbank Falls In Line On Bonuses

Never the less, at least one firm is jumping on the Sullivan & Cromwell bandwagon. Paul Weiss gave its associates the news today. $7500 for the first years, $35,000 for the seniors, and the same sliding scale for everyone else.

• Bonus Season has Begun
• Morning Roundup
• Morning Roundup
• Milbank Falls In Line On Bonuses
• Salary Cut at Pillsbury Winthrop

Sullivan & Cromwell is paying bonuses ranging from $7500 to $35,000 depending on class year. The only change is at the high end where senior associates will receive $5000 more than at firms on the Cravath scale.

Patton Boggs is doing things differently. They are paying bonuses based on both class year and the number of billable hours by which an associate exceeded their target goal. The scale ranges from $5000 to $45000. You’ll note that it’s lower on the low end and higher on the high end, but more importantly it cuts out completely anyone that missed their target goal for billable hours. Given the state of the legal economy I have to wonder how many associates won’t be getting a bonus at all, and of those that do, how few are hitting that top mark.

Patton Boggs also told its associates that those that missed their billable hour target by a large enough amount would receive a salary cut. Missed by 300 hours? That’s a 10% pay cut. Missed by 500 hours? That’s a 20% pay cut. And since salaries are remaining frozen, that means a third year associate that missed by 500 hours will receive $122,000 next year while new first years get $160,000.

• Hughes Hubbard Thaws Salaries, Issues Bonuses
• Bonus Season has Begun
• Chadbourne & Parke Does Right by its Associates
• Goodwin Procter Pays Bonuses, Thaws Salaries
• Salary Thaw and Bonuses at Hogan & Hartson

An army reservist has won his summary judgement against SUBWAY…

Ropes & Gray is opening a London office soon…

WilmerHale laid off some of its staff…

and there is a new class of partners at Sullivan & Cromwell…

• Morning Roundup
• Morning Roundup
• Morning Roundup
• Morning Roundup
• Morning Roundup

The new partners are Whitney Chatterjee, Marion Leydier, Sarah Payne, Zena Yoslov, and S. Eric Wang.

Sullivan & Cromwell has approximately 700 lawyers in 12 offices, located in financial centers in Asia, Australia, Europe and the United States.

• Survey Shows Women Partners Are On The Increase
• 23 New Partners at Latham & Watkins
• Report: Women Still Not Making Partner
• Gibbons Wins Catalyst Award for Women’s Initiative
• Sullivan & Cromwell Launches Law Practice in Hong Kong

The rankings are based on a poll of 6,300 directors and general counsel.

Here are the top 20 on the America’s Best Corporate Law Firms list, including last year’s ranking:

1. Skadden Arps Slate Meagher & Flom, New York (1)
2. Jones Day, Cleveland (7)
3. Cravath Swaine & Moore, New York (2)
4. Wachtell Lipton Rosen & Katz, New York (3)
5. Sullivan & Cromwell, New York (5)
6. Weil Gotshal & Manges, New York (9)
7. Gibson Dunn & Crutcher, Los Angeles (13)
8. Kirkland & Ellis, Chicago (8)
9. Latham & Watkins, Los Angeles (6)
10. Fulbright & Jaworski, Houston (17)
11. Baker & McKenzie, Chicago (14)
12. O’Melveny & Myers, Los Angeles (19)
13. Davis Polk & Wardwell, New York (4)
14. Wilson Sonsini Goodrich & Rosati, Palo Alto (14)
15. Sidley Austin, Chicago/New York (-)
16. Shearman & Sterling, New York (11)
17. Paul Weiss Rifkind Wharton & Garrison, New York (11)
18. Covington & Burling, Washington DC (16)
19. Hogan & Hartson, Washington DC (20)
20. Fried Frank Harris Shriver & Jacobson, New York (-)

Corporate Board Member is a leading information resource for senior officers and directors of publicly traded corporations, large private companies, and Global 1000 firms.

• 50 Best Law Firms for Women Announced
• Morning Roundup
• Morning Roundup
• Debevoise Reports Revenue Up
• Survey Confirms Summer Hiring Cool If Not Frozen

Collas Day: 6 staff

Matheson Ormsby Prentice: 25 lawyers

Pannone LLP: 35 staff

Thomson Playford Cutlers: 19 lawyers, 5 staff

Fennemore Craig: 7 lawyers, 10 staff

DLA Phillips Fox: 12 lawyers

Blake Dawson: 23 lawyers, 66 staff

Minter Ellison: 11 lawyers, 24 staff

Hunton & Williams: 23 lawyers, 64 staff

Hogan & Hartson: undisclosed

DLA Piper: 24 lawyers, 100 staff

Fish & Richardson: 35 lawyers, 85 staff

Sullivan & Cromwell: 30 lawyers

Day Pitney: 20 lawyers

Willkie Farr & Gallagher: undisclosed

CMS Cameron McKenna: 20 lawyers, 60 staff

Shoosmiths: 25 lawyers, 44 staff

Brown McCarroll: undisclosed

Total: 274 lawyers, 499 staff

Previously:

Week of May 3rd: 274 lawyers, 160 staff

Week of April 26th: 352 lawyers, 220 staff, 70 undisclosed

Week of April 19th: 61 lawyers, 184 staff

Week of April 12th: 67 lawyers, 50 staff, 115 unidentified

Week of April 5th: 144 lawyers, 310 staff

Week of March 29th: 199 lawyers, 474 staff

Week of March 22nd: 455 lawyers, 219 staff

Week of March 15th: 91 lawyers, 177 staff

Week of March 8th: 574 lawyers, 812 staff

• The Week in Law Firm Layoffs
• The Week in Law Firm Layoffs
• The Week in Law Firm Layoffs
• The Week in Law Firm Layoffs
• DLA Phillips Fox Lays Off 12 Lawyers; CEO Steps Down [Update]

The firm cites performance reasons for the layoffs, which took place mostly in February. Affected associates received two months severance.

In December, cut associate salaries but promised to revisit the situation in April.

Sullivan & Cromwell is one of the most prestigious and profitable law firms in the world, with approximately 700 lawyers in 12 offices, located in financial centers in Asia, Australia, Europe and the United States. As of 2006, it was the 15th largest law firm in the world.

UPDATE

According to online sources, the number of associate layoffs at Sullivan & Cromwell’s New York office has hit at least 30. The firm may intend to cut 10% of NYC associates overall, for a total of up to 50.

• Mintz Levin Lays Off Associates, Staff
• Major Layoffs at Dechert Today
• Rumor: Cahill Gordon Lays Off Associates
• Weil Gotshal Shuts Austin Office
• Dykema Cuts 17 Attorneys, 30 Staff [Correction]

McDonough Holland & Allen: 4 lawyers, 13 staff

Ruden McClosky: 2 lawyers, 18 staff

Thompson & Knight: 17 lawyers, 25 staff

Berwin Leighton Paisner: 30 lawyers, 55 staff

Eckert Seamans Cherin & Mellott: 119 lawyers

Fenwick & West: 15 lawyers, 7 staff

Milbank Tweed Hadley & McCloy: 49 lawyers, 40 staff

Holme Roberts & Owen: 15 lawyers

Sullivan & Cromwell: 20 lawyers

Simmons & Simmons: 3 lawyers, 2 staff

Matheson Ormsby Prentice: 15 undisclosed

McCann Fitzgerald: 25 undisclosed

Total: 274 lawyers, 160 staff, 40 undisclosed

Previously:

Week of April 26th: 352 lawyers, 220 staff, 70 undisclosed

Week of April 19th: 61 lawyers, 184 staff

Week of April 12th: 67 lawyers, 50 staff, 115 unidentified

Week of April 5th: 144 lawyers, 310 staff

Week of March 29th: 199 lawyers, 474 staff

Week of March 22nd: 455 lawyers, 219 staff

Week of March 15th: 91 lawyers, 177 staff

Week of March 8th: 574 lawyers, 812 staff

• The Week in Law Firm Layoffs
• The Week in Law Firm Layoffs
• Ruden McClosky Axes 16 Staff
• The Week in Law Firm Layoffs
• The Week in Law Firm Layoffs

Elizabeth Denman joins from Mello Jones & Martin; Callum Harper joins from Ashurst. Both are based in Bermuda.

Anton Goldstein joins from Sullivan & Cromwell, and will be based in the British Virgin Islands.

Established in 1928, Conyers Dill & Pearman has over 550 staff and 150 lawyers at offices in Anguilla, Bermuda, British Virgin Islands, Cayman & Mauritius Islands, Dubai, Hong Kong, London, Moscow, Singapore and now São Paulo.

• Conyers Dill & Pearman Opens Brazilian Office
• Lovells Adds Four Lawyers in Italy
• Appleby Brings on New Hires
• Appleby Hiring for Office in the Seychelles
• Appleby Merging with Dickinson Cruickshank

Revenue grew to $760.8 million, but profits per partner dropped to $2.23 million.

The drop-off in profitability followed declines at other New York-based firms, such as Skadden, Arps, Slate, Meagher & Flom; Sullivan & Cromwell; and Davis Polk & Wardwell. Only a few, such as Cleary Gottlieb Steen & Hamilton and Weil, Gotshal & Manges, have posted positive results.

Debevoise’s profits per partner dropped in part because the firm had more equity partners in 2008. The firm’s overall income actually increased 1.3% last year to $318 million. But the number of equity partners also increased.

Revenue per lawyer inched up slightly by less than 1% to $1.2 million.

The firm cut associate bonuses in December, after Cravath, Swaine & Moore set the market floor at $17,500 for a first-year associate bonus.

Debevoise & Plimpton LLP is a prominent international law firm based in New York City. Founded in 1931 by Eli Whitney Debevoise and William Stevenson, the firm currently employs about 680 lawyers in eight offices throughout the world.

• Survey: Skadden is Nation’s Top Firm Again
• Lateral Hiring Up 100% in London
• GSI Commerce Being Purchased by eBay for $2.4 Billion
• Cravath to Give Special Spring Bonus to its Associates
• Morning Roundup

Fourteen of the 100 firms did not include any women.

The survey included 100 law firms, which were chosen based on prior years’ surveys, firm size, reputation, and availability of information.

From the report:

The best: Cravath (67%), Dickstein Shapiro (67%), Wiley Rein (60%), Andrews Kurth (57%), Bryan Cave (56%), Arent Fox (50%), Baker & Daniels (50%), Hogan & Hartson (50%), Holland and Hart (50%), King & Spalding (50%), Luce Forward (50%), Simpson Thacher (50%), and Sullivan & Cromwell (50%). A special mention goes to Farella Braun, whose only new partner is female (100%).

The worst: None of the following firms made a female partner this year: Cadwalader, Cleary Gottlieb, Dechert, Foley Hoag, Kaye Scholer, Lowenstein Sandler, Milbank, Schulte Roth, Steptoe, Strook, Venable, Wachtell, White & Case, and Wilkie Farr.

PAR is an initiative of the Center for WorkLife Law at the University of California Hastings College of the Law.

• 50 Best Law Firms for Women Announced
• Cravath to Give Special Spring Bonus to its Associates
• Lateral Hiring Up 100% in London
• March 9th Worst Day for Law Firm Layoffs So Far
• Reduced Hours for Associates Instead of Layoffs?

Weil Gotshal & Manges

Before serving as deputy counsel to President George W. Bush, Burck, 37, also served as a legal adviser to Assistant Attorney General Alice Fisher in the Criminal Division at the Department of Justice. Before that he was deputy staff secretary at the White House.

Before joining the US Attorney’s Office in March 2003, Burck was an associate at Sullivan & Cromwell in New York.

Burck received his bachelor’s degree from Yale University and his JD from Yale Law School.

• GSI Commerce Being Purchased by eBay for $2.4 Billion
• Morning Roundup
• Morning Roundup
• Survey Shows Women Partners Are On The Increase
• Law Firm Hirings & Firings

In memos distributed this afternooon, firm chairman H. Rodgin Cohen and vice chairman Joseph Shenker told associates they will receive regular year-end bonuses worth about half what they were last year. But the memos also said the firm intends to issue all associates another check in April, the size of which will depend on the firm’s overall financial performance.

Year-end bonuses for 2008 now range from $17,500 for first-years to $32,500 for eighth-year-associates, according to the memos.  Last year the year-end bonuses, which are not tied to a minimum hours requirement, were twice that.

The news applies to all of Sulllivan’s roughly 450 associates worldwide.

Sullivan & Cromwell is one of the most prestigious and profitable law firms in the world, with approximately 700 lawyers in 12 offices, located in financial centers in Asia, Australia, Europe and the United States. As of 2006, it was the 15th largest law firm in the world.

• Poof! Bonuses at Epstein Becker Disappear!
• Cravath to Give Special Spring Bonus to its Associates
• Bonus Season has Begun
• Weil Gotshal Bonuses
• Dewey & LeBoeuf Match Cravath Bonuses