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Fewer women make partner

A joint study conducted by the Georgia Association for Women Lawyers, the Atlanta Bar Association, the Women in the Profession Committee, and the Georgia Commission on Women revealed that the percentage of female attorneys at the partner-level in Atlanta law firms is only about 17%.

The Washington, DC-based National Association of Law Placement reported that of the 44 cities surveyed in a similar study, 18 cities have an even lower percentage of female partners. These include New York City; Nashville; Charlotte, NC; and Cleveland, Columbus, and Cincinnati in Ohio. Miami has the highest percentage of female partners. A reported 23.7% of its 515 partners are female.

The number of female attorneys, however, keeps growing. At King & Spalding, Atlanta's largest law firm, women today comprise 40% of all attorneys.

03-07-2006

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What's in a name?

The hectic pace of law firm mergers during the past few years has presented partners with a new problem-choosing the right name for the merged firm. Hildebrandt International recently reported 49 mergers and acquisitions completed in 2005, up slightly from 47 in 2004. Law firm names have always been a controversial subject, as they play an important part in generating business. Many merger deals have been disrupted by firm name debates.

The merger of Ropes & Gray with Fish & Neave resulted in a new practice called The Fish & Neave IP Group of Ropes & Gray. Pillsbury Winthrop merged with Shaw Pittman to become Pillsbury Winthrop Shaw Pittman.

Timing can also influence the choice of name after a merger. In the case of Wilmer Cutler & Pickering's merger with Hale & Dorr, the firm adopted the name Wilmer Hale several months after prominent partners Lloyd Cutler and John Pickering died. Some merged names are lengthy and tend to be shortened. For example, DLA Piper Rudnick Gray Cary LLP is often called DLA Piper.

03-07-2006

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More U.S. firms go global

More U.S. firms established offices worldwide in 2005 than ever before. Hildebrandt reported that 57 new international offices opened in 21 countries, an increase of 47% from 2004.

China remains the most popular market for expansion with the opening of 14 new offices in Hong Kong, Beijing, and Shanghai respectively. Germany comes in second with the reported launch of 7 new offices, followed by the United Arab Emirates (6), Russia (5), and 3 new offices each in Italy, Switzerland, Taiwan, and the UK.

With regard to the number of lawyers employed by U.S. firms abroad, London continued to have the most, followed by Paris with 1,117. This reveals the commitment of U.S. law firms to the European market remained substantially greater than their commitment in Asia.

U.S. firms followed other strategies for expansion as well, like merging with major firms abroad. The largest merger was the tripartite union of Piper Rudnick Gray Cary with London-based DLA. Others include the merger of Kirkpatrick & Lockhart with London-based Nicholson Graham & Jones; Cozen O'Connor's merger with Toronto-based Poss & Halfnight; Howrey Simon Arnold & White's merger with the Paris boutique Cabinet Couste & Couste; Paul Hastings Janofsky & Walker's acquisition of the Taiyo Law Office in Japan; and Squire Sanders & Dempsey merging with Warsaw-based Wiater Law Office.

03-06-2006

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London braces for associate salary war

New York-based Cleary Gottlieb Steen & Hamilton confirmed the raise of its starting salaries for UK associates from just under $128,727 (£74,000) to $147,904 (£85,000). The salary hike is predicted to create a domino-effect in the UK market.

Other major U.S. firms have decided to raise associate salaries in their London offices. These include Sullivan & Cromwell, Skadden Arps Slate Meagher & Flom, Debevoise & Plimpton, Milbank Tweed Hadley & McCloy, and Simpson Thacher & Bartlett. Firms with larger UK practices are currently paying an average of $104,960 (£60,000)-$110,205 (£63,000) to first-years.

Other firms, including LeBoeuf Lamb Greene & MacRae and Baker & McKenzie, are expected to review salaries in the spring.

03-06-2006

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Legal market analysts see some growth in 2006

A new legal market report issued recently by BCG Attorney Search indicates growth across the board in almost all practice areas in terms of the demand for more attorneys. The report, which tracks market trends from February 2005 to that in February 2006, indicates that while the market is promising, it shows a measure of instability.

According to BCG Managing Director A. Harrison Barnes, the economy is improving, "but the growth has varied from sector to sector."

Barnes said that the legal community "has been affected by that variation, with some practice areas shooting up suddenly and then subsiding into slower increase and others showing steady but unspectacular improvement."

Corporate law practices continue to demonstrate growth, rising by 40.17% in new jobs. Antitrust and trade regulation is also expanding, with job openings in that area jumping by 62.5%. IP law continues a significant upswing, with litigation and trademark/copyright divisions showing a 128.57% increase in job availability in the last 12 months. One particularly encouraging trend was the improvement of the job market for Internet/e-commerce law, which increased by 50% from last year.

03-06-2006

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Duane Morris celebrates increase in profits

International law firm Duane Morris posted strong figures for 2005. Revenues increased nearly 10% to $290 million and profits per partner shot up 18% to $675,000.

Last year, Duane Morris established a national platform by hiring laterals from competing firms across the U.S. In March 2005, the firm expanded to the West Coast, acquiring three litigation partners from Buchanan Ingersoll's San Diego office. Hires from Arent Fox, Kenyon & Kenyon, Buchanan, and Pillsbury Winthrop helped bulk up its Washington, DC, San Diego, and New York offices. In October, the firm announced its merger with Los Angeles-based Hancock Rothert & Bunshoft.

The firm is eager to brandish its coast-to-coast credentials in all practices, and they are currently weighing the possibility of mergers in New York, Chicago, and Washington, DC.

03-03-2006

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Dechert leads in Pennsylvania with salary increases

Dechert has brought the salary wars to Pennsylvania by raising associate pay to $135,000. The firm joins the ranks of the highest-paying in Philadelphia along with Morgan, Lewis & Bockius.

The pay hike comes in the wake of increased revenues and profits per equity partner at the firm. According to reports, revenues grew approximately 30% to $576.8 million in 2005. Profits per equity partner increased nearly 27% to $1.56 million in 2005.

In order to keep up with the competition, Ballard Spahr Andrews & Ingersoll in Philadelphia will offer entry level salaries of $125,000 effective March 1.

03-03-2006

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