Home

Dewey & LeBoeuf Seeks Change in Leadership
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

The excessively high exodus of partners and mounting debts has ultimately caused Dewey & LeBoeuf to draw up and announce a fresh management structure. The partners are expected to vote within the next seven days to change the firm’s governance from a single chairman to a five-member office.

The expected members of the new governing board would be the current chairman, Steve Davis, Martin Bienenstock, chairman of the business solutions and governance; Jeffrey Kessler, chairman of the global litigation practice; Charles Landgraf, chairman of the legislative and public policy practice; and Rich Shutran, chairman of the corporate department and global finance group.

A memo to the effect has been circulated to partners on Monday evening.

  
What
Where


According to the memo, the current chairman, Steve Davis is expected to relocate to London and focus his practice on energy and utilities.

It is remarkable that the firm, known for its flourishing insurance practice has no member on the five-member proposed board focusing solely on that area of practice. It is almost as if no one is left to fill the shoes of those who left.

Last month, the co-leader of the insurance practice went to DLA Piper, while six other insurance and tax partners went to Sutherland Asbill & Brennan. While Dewey leaders continue to tell the media that the exodus of partners has no impact on the firm, the insides are visibly shaken up.

Get JD Journal in Your Mail

Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!




Continue to endorse their stance of ‘keeping face’ the memo mentioned “2012 is off to a terrific start” adding that the revenue in January and February was up by 28% compared to the same period in last year. The memo also mentioned that the 12-month period ending Feb 29 was up by 6.1% compared with the same period last year.

Dewey faces an unusually high debt of $125 million and has been deferring partner payments for long. The new proposed board did not include two expected faces – vice chairman Morton Pierce, head of the mergers and acquisitions practice, and Ralph Ferrara a top mergers and acquisition lawyer of Washington.



Pierce declined to comment over the memo to the media and said “I’m here at Dewey, I’m at my desk, and I’m working away.”

Pierce is known to have been trying to shift from the firm in a lateral move for the last 25 years, but has yet failed to find an acceptable deal.



 

Interesting Legal Sites You May Like


BCG FEATURED JOB

Locations:

Keyword:



Search Now

Mid-Level Commercial Business Litigator

USA-CA-Los Angeles

Los Angeles office is seeking a commercial business litigation attorney with 2-5 years of experience...

Apply Now

Senior Level Litigator

USA-CA-Woodland Hills

Woodland Hills office is seeking a litigation attorney with 5-7 years of experience and a background...

Apply Now

Litigation Associate Attorney

USA-CT-Stamford

Stamford office of our client seeks litigation associate attorney with 3+ years of experience. The c...

Apply Now

Experienced Estate Planning Attorney

USA-CA-Torrance

Torrance office is seeking an estate planning attorney with 7-10 years of experience.

Apply Now

RELEVANT JOBS

Attorney

USA-WA-Woodinville

The ideal candidate will have 2-3 years’ experience as an attorney, who is passionate about br...

Apply now

Legal Secretary / Paralegal

USA-UT-Ogden

Have need of a legal secretary / paralegal to prepare legal documents for court filing and estate pl...

Apply now

Medical Malpractice Associate

USA-CA-Los Angeles

Downtown Los Angeles medical malpractice defense firm seeks 2-4 year associate attorney with persona...

Apply now

Immigration Attorney

USA-CA-Anaheim

Responsibilities: Make appearances in immigration court at Master Calendars and Individual Hea...

Apply now

SEARCH IN ARCHIVE

To Top