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Salary hike at Montgomery McCracken

Philadelphia-based Montgomery, McCracken, Walker & Rhoads has announced a substantial hike in starting salaries for first-year associates, according to The Legal Intelligencer.

With an increase of $10,000 per year, first-year associates will be hired at $125,000 at all offices of the firm in Philadelphia other than West Chester, effective from September 1. However, the law firm is not clear about how the increase will affect different associate levels. Of late, the majority of law firms in the region have adopted hikes in salaries. The highest salaries in the region are offered by Morgan, Lewis & Bockius and Dechert, who pay first-years $135,000 per year.

Having recently merged with Crawford Wilson, Montgomery McCracken plans to increase its number of attorneys from 170 to 200+.

08-02-2006

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Venable sets up office in Los Angeles with 20 attorneys

Washington, DC, firm Venable has achieved its goal of extending from coast to coast, having opened a new office in Los Angeles. Law.com reports that a team of 20 attorneys has been hired from boutique litigation firms Gorry Meyer & Rudd and Whitwell Jacoby Emhoff. The law firm, however, has yet to finalize the selection of a managing partner for the new office.

This is the second such occasion since last year, when Venable opened an office in New York City and hired attorneys from litigation boutique Heard & O'Toole. Venable also intends to extend its practice areas to focus on real estate, intellectual property, and bankruptcy practices.

08-02-2006

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Morris, Manning & Martin rated most successful mid-sized firm

Among mid-sized U.S. law firms, Atlanta-based Morris, Manning & Martin, LLP, has earned the distinction of being the most successful according to Of Counsel, The Legal Practice and Management Report. Five mid-sized firms, including Morris, Manning & Martin, have not only survived the recession in the mid-size firm market but also shown significant improvement in growth figures.

With offices across the U.S., Morris, Manning & Martin has expertise in corporate finance, securities, litigation, technology, telecommunications, insurance, healthcare, environmental and real estate practices.

08-02-2006

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Holland & Knight #1 in wealth management

Chambers USA, a research-based publication of Chambers & Partners, has ranked the wealth management practice of the law firm Holland & Knight LLP as No. 1 for the year 2006. Holland & Knight has the largest number of trusts and estate lawyers across the U.S. The publication has also given individual recognition to the chair of Holland & Knight's private wealth services group, Edward F. Koren Jr. The law firm has also received the top national ranking for its shipping and aviation transportation practices.

Chambers USA ranks law firms and attorneys based on their merits as explained by their clients. Chambers USA also considers other qualities which include technical legal ability, professional conduct, commercial awareness, diligence, and commitment.

08-01-2006

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Goodwin Procter's private equity practice to get a facelift

Boston-based Goodwin Procter LLP has embarked on expansion plans to widen its private equity practice. The firm's New York office has already seen the hiring of prominent attorney Jeff A. Hess, who specializes in private equity acquisitions, venture capital, and growth equity investments for leveraged buyout, private equity fund, and merchant banking clients. Recently the law firm added five new partners to the private equity practice in its Washington, DC, and New York offices, taking the firm's total number of private equity attorneys to 75.

With more than 40 years of experience in the private equity practice, the law firm was rated as the sixth most active in private equity and venture capital by Private Equity Analyst in 2005. Goodwin Procter offers services in debt, tax, intellectual property, mergers and acquisitions, ERISA, employment and real estate law.

08-01-2006

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Fish & Richardson strengthen corporate and litigation practice

The national law firm of Fish & Richardson has hired eight new corporate and litigation attorneys in its Austin office. With the new additions, Fish & Richardson now has 20 lawyers in Austin and 49 in Dallas bringing its total ranks to 380. Since opening its Austin office in January 2005, the law firm has been looking to consolidate its staff strength and increase its client base in the region. The Austin office offers services in the areas of intellectual property, litigation, technology transactions, general corporate matters, labor and employment, private placements of securities (including venture capital financings), public offerings and public company compliance matters, and mergers and acquisitions.

According to the July 2006 edition of IP Law & Business, Fish & Richardson firm handles more patent litigation than any other law firm in the U.S. The new hires, previously with the firm Andrews Kurth, are expected to set the firm on track to figure among the few firms in Austin to represent all aspects of the legal needs of technology companies, including patent and IP issues.

08-01-2006

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Sullivan & Cromwell rated No. 1 in U.S. M&A list

Law firm Sullivan & Cromwell leads the U.S. M&A rankings for the second quarter, according to a survey conducted by Legal Week. As the M&A market witnessed significant growth, the law firm rose to the top. Their success is attributed to advising on 67 deals worth a total of $318 billion. As per statistical estimates from Mergermarket, the total value of the firm's deals is up by 26% to $719 billion while the overall numbers of deals has dropped 3%.

Among other firms, Wachtell Lipton Rosen & Katz, Simpson Thacher & Bartlett, Shearman & Sterling, and Skadden, Arps, Slate, Meagher & Flom featured on the M&A list. The overall growth of the M&A market and increase in cross-border European M&A transactions has also helped UK's firms. The UK's top-50 law firms witnessed a rise in revenue of 13.1% with a 19% rise in partner profits.

07-31-2006

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