Lateral Activity Saw Major Jump in 2011
Lateral activity among partners saw a major jump in 2011 according to a report from Am Law Daily. The report says that while 2010 saw a major slump in lateral activity, last year it was back to pre-recession levels. For the 12 months ending in September 2011, 2,454 partners left their current firms for other opportunities in the various Am Law 200 firms and other places. This is an increase of 22 percent compared to 2010. The law firm that took the biggest hit was Howrey, which lost 208 partners, representing an astonishing figure of 85% of the firm. The law firm is now in Chapter 11 after it was originally forced into Chapter 7 by a group of creditors.
K&L Gates was next on the list because of losing 69 partners, representing 8 percent of the firm’s partners. Most of the other firms on the list had similar percentages. DLA Piper with 59 partners.