Image from Shutterstock.com.
Kirkland & Ellis had essentially the most companion departures this 12 months amongst bigger legislation corporations, adopted by Boies Schiller Flexner, in line with an evaluation of lateral companion motion by authorized consulting agency Decipher.
Kirkland misplaced 54 companions by way of lateral maneuvers and bought 18, Law.com studies, citing the Decipher figures. Boies Schiller misplaced 50 companions to the lateral market and gained three. The information lined Jan. 1, 2020, by way of Aug. 31, 2020.
Law.com points out that Kirkland has a much bigger partnership, and it “normally leads the pack in both partners coming in and going out.” Boies Schiller, alternatively, noticed greater departures than traditional after media studies about its illustration of film producer Harvey Weinstein and title companion David Boies apparently being deceived by a person who claimed to have sex tapes involving financier Jeffrey Epstein.
Law.com ranked Kirkland because the nation’s sixth largest legislation agency, based mostly on 2019 lawyer head rely, with 2,598 attorneys and 1,086 companions. Boies Schiller had solely 142 companions in 2019, in line with Law.com.
Both legislation corporations declined to remark when contacted by Law.com.
Holland & Knight was uncharacteristically among the many high corporations for lateral companion departures, in line with Law.com. The story didn’t listing its rating for lateral losses.
Steven Sonberg, managing companion at Holland & Knight, mentioned the COVID-19 pandemic was one issue within the departures.
“The pandemic has caused a number of partners to alter their career plans,” he advised Law.com in an announcement.
“These involve various circumstances, including the opening of boutique practices or moving to in-house legal positions or nonprofits. We have also had partners retire, relocate to cities where the firm does not maintain offices, and move to other law firms,” he mentioned.
Sonberg mentioned the legislation agency has continued to carry out well, and he expects a major variety of lateral companions to hitch the agency within the subsequent few months.