Employment growth has slowed among the largest U.S. law firms, which have responded to relatively flat client demand and a still-cool dealmaking environment by reducing hiring and increasing billing rates, new figures show. The largest firms surveyed by Wells Fargo experienced a sharp decrease in headcount growth, to 2.9% in 2023 from 6.0% in 2022, David Thomas reports.
The broader U.S. legal services sector, meanwhile, is projected to break its record-high employment level after adding 4,500 jobs in December, according to Labor Department data released earlier this month. Read more about the hiring slowdown.
More from the legal industry …
Milbank reported double-digit percentage increases in revenue and profitability in 2023, with per equity partner profit topping at $5.1 million … The Senate confirmed the 40th Biden nominee U.S. Magistrate Judge Joshua Kolar to the 7th Circuit … U.S. Circuit Judge Jane Branstetter Stranch is planning to step down from active service on the 6th Circuit… Lawyer Jack Burkman consented to disbarment after pleading guilty to telecommunication fraud … Hotelier Robert Bigelow gave former President Donald Trump $1 million for his legal fees … Several lawyers at major law firms opposed the 5thCircuit’s proposed rule to regulate the use of artificial intelligence in cases … The 2nd Circuit referred lawyer Jae Lee to its attorney grievance panel for citing a non-existent case generated by ChatGPT … New York University asked a judge to toss a white male student’s discrimination lawsuit over NYU Law Review editor selection, calling it “half-baked” … Davis Polk won a retaliation lawsuit brought by a Black former lawyer at the firm, who alleged he was fired for complaining about racial discrimination … A Texas judge awarded nearly $2 million in legal fees to MWK Recruiting in a lawsuit against former staffers for allegedly breaking employee contracts … The University of North Carolina agreed to pay $4.8 million to cover the fees and expenses of anti-affirmative action group Students for Fair Admissions after its Supreme Court loss … George Mason University fired back in a discrimination lawsuit brought by former law professor Joshua Wright, accused of sexual misconduct … Former Freshfields partner Ulf Johannemann was sentenced to jail for his role in a German tax fraud.
Moves:
In New York …
Cahill added Colleen Tracy James as co-chair of the firm’s life sciences patent litigation practice from White & Case … Norton Rose Fulbright tapped bankruptcy and restructuring partner Robert Hirsh from Lowenstein Sandler … Foley & Lardner hired Kay Gordon as a partner from Nelson Mullins, where she was co-head of the investment management group … Haynes and Boone added Joe Sarcinella as a transactional partner from Reed Smith, where he chaired the real estate practice … Benesch tapped Douglas DiMedio from Kirkland to co-lead its private equity group … Former federal prosecutor Barry O’Connell joined Davis Wright Tremaine as a partner in the firm’s financial services practice.
In Washington D.C. …
Kirkland brought on antitrust partners Norman Armstrong Jr and Daniel Zach. Armstrong was co-head of King & Spalding’s antitrust group. Zach, a former assistant director at the FTC, arrives from Cravath … Katlin McKelvie, a former deputy general counsel for the U.S. Health and Human Services Department, joined Gibson Dunn as a partner in the FDA and healthcare group … ArentFox Schiff named Brian Waldman the firmwide managing partner.
In Philadelphia …
Hausfeld’s global managing partner Brent Landau will leave to serve as executive director of the Public Interest Law Center … Aliza Karetnick joined Morgan Lewis as a trial partner. Karetnick previously led Ballard Spahr’s commercial litigation and dispute resolution group … Armstrong Teasdale hired Elizabeth O’Donoghue as a partner in the firm’s trademark practice from Stradley Ronon.
In Chicago …
Loeb & Loeb hired Nicole Mann as a partner in its trusts and estates department from McDermott … Orrick added tech and life sciences IP partner Timothy Carroll in Chicago and D.C. … Nelson Mullins brought on David Ogles as a partner in the firm’s midwest commercial litigation practice.
In Kansas City …
Lathrop GPM added business transactions partner Issaku Yamaashi from Foulston Siefkin.
In Los Angeles …
IP partner Theresa Conduah rejoinedAlston & Bird from Haynes and Boone.
In Houston …
Energy deals partner Jay Hughes joined McGuireWoods from Willkie Farr, where he was co-chair of power and renewable energy practice … Skadden hired Michelle Scheffler as a partner from Haynes and Boone, where she was co-chair of the oil and gas practice.
In Charlotte …
Troutman Pepper hired securities partners Rakesh Gopalan and David Wolpawith from McGuireWoods.
In Denver …
Holland & Hart added immigration partners Chris Thomas, Ann Lee and Samantha Wolfe from Ogletree Deakins.
In Boise …
Dorsey & Whitney brought on Dana Herberholz and Jordan Stott as IP partners from Parsons Behle & Latimer.
In Tysons …
Rajan Singh rejoined Womble’s corporate and securities practice.
In Toronto …
Cozen O’Connor hired real estate partners Enzo Sallese and Andrea Wong. They were earlier at Minden Gross.
In London …
Bracewell hired disputes partner Mark Hunting from BP, where he was managing counsel for competition and regulatory compliance.
In Singapore …
K&L Gates added Jason Nelms as a partner in the firm’s asset management and investment funds practice from Morrison Foerster.
In Tokyo …
Greenberg Traurig tapped real estate partners Mizuho Yamada and Ayako Kawano from White & Case, where Yamada led the Japan real estate practice.
And finally …
Seyfarth Shaw added three partners from Bryan Cave Leighto
n Paisner. Chicago-based lawyer Jason DeJonker will lead a new restructuring and insolvency practice. Scott Olson, based in San Francisco, will join the restructuring team, and Richard White will be part of the servicing practice in Atlanta.
