Lion Report: Week of June 4th 2012

Good evening exclusive subscribers,

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It’s official. Big law firms are here to stay!
But the beauty of free market capitalism continues to have the positive

refining evolutionary effect to the business of law.

 

Even though the Dewey & LeBoeuf debacle is now Chapter 11, I have a

different perspective than all the dooms day nay sayers  singing Na Na Hey Hey Good Bye

 

According to the American Lawyer, the top 100 highest grossing law firms

in the US reached over $70 billion in revenues during 2011. This does not include the

revenue of the second 100 law firms or the additional 400 other (of 600 law firms

office size 25+)

 

So we are talking about a potential near $200 billion dollar industry. That money

will not disappear although it may change hands to more entrepreneurial

architects of genius and evident opportunity.

 

I want to encourage all those lawyers wondering: What’s next?

 

We are in for an exciting ride for the law industry but only for the good.

 

What one groomed large global law firm CEO told me, “Chris, hold on tight. We are entering

what was the 90’s for Accounting firms. Their Age of Consolidation is creeping upon law firms.”

 

So Big law is here to stay, yet we will continue to see law firm mergers, spin offs, and

implosions. Large public, private, and middle market clients will still need the

personality and expertise within the four walls of a large law firm.

 

Large law firms will grow exponentially in both gross revenue and head count.

The ones that made smart lateral acquisitions, strong law firm culture, and wise

management systems and structures. These will resemble the looks the now Big 4 Accounting

firm.

 

So the Big 4 have head counts in the 30k-100k and revenues of $25+ billion.

The largest head count for Big Law is over 4k and revenues nearing $2 billion.

We have a lot of growth, mergers, and shifting to go. The anticipation of this

will be over the next 5-10 years.

 

In my next Lion Report, I’ll address the emergence or explosion of the lawyer middle class.

Big Law News…….. for Exclusive subscribers 
(Click on title for more of the article) 
Dewey & LeBoeuf’s Former Leaders Profiled

 

Steven J. Harper, Esq., former Kirkland & Ellis partner, now blogger of
“The Belly of the Beast” has a series of profiles on Dewey’s decision makers
that lead to the demise of the firm.

Alexander Hamilton, Thomas Jefferson & Law Firms 

Bruce MacEwen of AdamSmith, Esq is a revered law firm blogger. I am featuring him
with his insightful thoughts on some of our nation’s founding leaders.

Business Development, Law Firms and You 
Whether you are an AML100 Executive, law student or income partner, you should read this.

Lateral Partner Due Diligence 
This is a great article addressing the questions matters of lateral partner moves.

Houston Firms continue to be poached                                                                                                                                                White shoe firms continue to move into Energy Mecca.

Big Law Jobs…….. for Exclusive subscribers 
(Click on job for more information)

—–> Calling all Banking & Finance Partners
I am assisting a global law firm leader to Leander clients and they are looking for
Partners in Houston, Dallas and Chicago. A most excellet opportunity.

Miami – Corporate M&A & Finance – JD ’10-08                                                                                                                               This Global firm is seeking a US JD corporate associate with Spanish or Portuguese skills as a plus.

Houston – US Capital Markets – JD ’10-08                                                                                                                                 Texas energy firm seeking an associate for their active corporate group.

Washington DC – Latin Am Project Finance – ’08-06 JD 
       Rare opportunity to join Global firm’s Latin Am PF group.

        Oil & Gas Project Finance Associate -JD ’09-04 - London 
Prestigious Global firm has active projects group needing an upstream oil&gas associate.
        Corporate Associate – JD ’10-06 – Silicon Valley
Growing Bay Area law firm looking for corporate associates in M&A, securities, etc.
        New York  – Outsourcing Associate -08-06 – Top AML 100 firm 
Have RFP exp with tech outsourcing at a law firm. Check this out.
       Senior Arbitration ADR Associate – New York – Global Elite Firm
Elite global law firm seeking seasoned  international disputes and arbitration associate to join their respected team.
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