Salary hikes at three Philadelphia-based firms
Philadelphia-based firms Wolf, Block, Schorr & Solis-Cohen; Duane Morris; and Morgan, Lewis & Bockius have announced increases in associate salaries. Morgan Lewis previously made its mark as the highest-paying firm in Philadelphia. Now it is offering first-year salaries of $135,000. The pay raises are effective in the firm's Princeton; Washington, DC; Pittsburgh; Chicago; Los Angeles; San Francisco; Palo Alto; and Irvine offices. The firm gave an even sharper raise to associates in New York, bumping first-year salaries to $145,000. Salaries for first-years at Wolf Block went from $115,000 to $125,000, a move attributed to a strong fiscal year in 2005. The firm saw a 15% increase in profits per equity partner, which grew from $390,000 in 2004 to $448,000 in 2005. Duane Morris also increased first-year salaries from $115,000 to $125,000. It increased the second-year salaries to a minimum of $127,500. Third-years will earn a minimum of $130,000.
Reed Smith reports 21% hike in profits
Reed Smith has seen a 21% increase in profits per partner, jumping from $662,000 in 2004 to $800,000 in 2005. Revenue per lawyer also increased approximately 10%, from $553,000 in 2004 to $609,000 in 2005. Legal industry observers were impressed by this transition. BCG Attorney Search recruiter Claudia Spielman, based in Los Angeles, said she was surprised at the numbers. "$850,000 profit per partner is like the golden number, and that's very close to it," Spielman said. "They're definitely a force to be reckoned with." The firm recently recruited a group of attorneys from Los Angeles-based Buchalter Nemer to bolster the financial services sector in California. In 2003, the firm merged with Crosby Heafey Roach & May, which had a strong life sciences practice. Actively looking to move into the Texas and Chicago markets, Reed Smith is also eyeing expansion in China. At the end of last year, the firm opened a new Paris office with four partners from Rambaud Martel. With more than 1,000 attorneys, Reed Smith was ranked 31st in the Am Law 100 for 2005.
DLA Piper promotes 59 to partnership globally
DLA Piper Rudnick Gray Cary has promoted 59 lawyers to partnership level worldwide. While DLA made 35 new partners across U.S., 24 lawyers were made partners across the U.K., Europe, and Asia. The new partners will work on a diverse range of areas, including banking, corporate, commercial, litigation, human resources, real estate, regulatory, technology, media and communications, and tax. DLA Piper has also strengthened its associate level by promoting 66 lawyers to associateship with immediate effect thus boosting their number in the U.K., Europe, and Asia to 568.
Foley & Lardner adds five attorneys
Foley & Lardner, LLP, has expanded its Intellectual Property Department with the addition of five attorneys to its Chicago office. Craig S. Fochler joins the firm as a partner and chair of the IP practice; William J. Cook will join as partner; Charles R. Mandly, Jr., will join as a special counsel in the firm's IP Department and e-Business and Information Technology Practice Group; and Diane G. Elder and Cynthia B. Stevens join as senior counsel in the IP Department and IP Litigation Practice Group. Prior to joining Foley, these attorneys practiced in the Chicago office of Wildman Harrold. Foley & Lardner, LLP, provides a full range of counsel in various areas, including corporate governance, securities enforcement, litigation, intellectual property, labor and employment, and tax.
Jackson Walker elects 10 new partners
Jackson Walker has promoted 10 new partners. These include S. Brad Brown, Jr. (Dallas-Litigation); L. Scott Brown (Richardson-Business Transactions); William J. Cobb III (Austin-Litigation); David B. Deaton (Houston-Business Transactions); William D. Ellerman (Dallas-Litigation); Randall M. Glenn (Austin-Business Transactions), Breck Harrison (Austin-Litigation); James D. Struble (Dallas-Litigation); Mark Tidwell (Houston-Intellectual Property); and Ryan Wirtz (Dallas-Litigation). Jackson Walker, LLP, represents clients throughout Texas, United States, and abroad. It has a strong regional base of more than 300 attorneys in Austin, Dallas, Fort Worth, Houston, Richardson, San Angelo, and San Antonio.
DLA Piper's global revenue hits $1.5 billion
DLA Piper Rudnick Gray Cary reported global revenue of more than $1.5 billion for the fiscal year ending Dec. 31, 2005. The revenue report consists of the combined results of the three merged firms: DLA, Piper Rudnick, and Gray Cary Ware & Freidenrich. The firm also reported that profits per equity partner surpassed the $1-million mark, hitting $1,036,000. With locations all over United States, Europe, Middle East, and Asia, DLA Piper Rudnick Gray Cary has 2,850 lawyers in 58 offices. The firm's core practice areas include corporate, litigation, real estate, legislative, regulatory, technology, human resources, banking, and finance.
Jorden Burt promotes three to partnership
Jorden Burt, LLP, has promoted Christopher G. Barnes, W. Glenn Merten, and Michael A. Valerio to partnership. Barnes focuses his practice on complex commercial litigation in state and federal court on behalf of insurance companies and other financial institution. Merten excels in numerous areas, including consumer fraud claims, unfair trade practices, broker-dealer and investment disputes, employee benefits litigation, healthcare litigation, insurance coverage, and employment law. Valerio focuses his practice on a broad range of complex litigation and securities enforcement matters. Jorden Burt, LLP, is a national law firm specializing in financial services and has a national reputation in high-stakes litigation, financial regulation, and product counseling.
Lehr joins Davis Polk & Wardwell
Matthew B. Lehr has joined Davis Polk & Wardwell as a partner in its Menlo Park, CA, office. Lehr will head the firm's intellectual property litigation practice and has extensive experience in patent and technology cases involving areas such as biotechnology, medical devices, computer architecture, chemical products, pharmaceuticals, plasma physics, electrical devices, and software products. Previously, he worked with Latham & Watkins, where he was a partner and the co-chair of the Silicon Valley Litigation Department. Davis Polk & Wardwell has more than 600 lawyers practicing in offices in New York; Menlo Park, CA; Washington, DC; London; Paris; Frankfurt; Madrid; Hong Kong; and Tokyo.