Email your news and story ideas to: news@globallegalpost.com
Dewey haemorrhaging continues
Eight more partners have left New York-based law firm Dewey & LeBoeuf -- including a five-strong infrastructure team -- taking the overall 2012 partner loss to more than 60, according the US website the Am Law Daily.
New York: Four new partners based in New York and one is in London.
Richmond, Virginia-based firm Hunton & Williams is currently Dewey’s chief tormentor, snatching former co-head of utilities, power and pipelines industry group Bud Ellis to lead Hunton’s energy capital markets practice in New York. Joining his team are former Dewey partners Michael Fitzpatrick, Steven Friend, Steve Loeshelle, Peter O’Brien and former Dewey counsel Kevin Felz. All join as partners.
Reducing headcount
New York-based Pillsbury Winthrop Shaw Pittman has snapped up former Dewey partners Catherine Hood and Anthony Terrell, while Minneapolis firm Dorsey & Whitney has grabbed litigator William Primps for its New York office to complete the latest batch of defections.
Regarding the partner losses, Dewey told the Am Law Daily: ‘The number who have left to date, including firm initiated reductions, is consistent with the reduced headcount contemplated by our plan, which contemplates limited further headcount reduction over the next several months.’
Credit line
Dewey is currently renegotiating an existing $100 million line of credit with its lender after setting up a five-person ‘office of the chairman’ in an attempt to instil confidence in the struggling partnership.
In a long expose on the firm’s plight published in the current issue of The Lawyer newspaper, the view is promulgated that the discord has its roots in the hasty merger five years ago between then Dewey Ballantine and LeBoeuf Lamb Greene & MacRae. ‘The partners from the LeBoeuf side of the combined firm are the ones leaving in their droves,’ says the report.
Reducing headcount
New York-based Pillsbury Winthrop Shaw Pittman has snapped up former Dewey partners Catherine Hood and Anthony Terrell, while Minneapolis firm Dorsey & Whitney has grabbed litigator William Primps for its New York office to complete the latest batch of defections.
Regarding the partner losses, Dewey told the Am Law Daily: ‘The number who have left to date, including firm initiated reductions, is consistent with the reduced headcount contemplated by our plan, which contemplates limited further headcount reduction over the next several months.’
Credit line
Dewey is currently renegotiating an existing $100 million line of credit with its lender after setting up a five-person ‘office of the chairman’ in an attempt to instil confidence in the struggling partnership.
In a long expose on the firm’s plight published in the current issue of The Lawyer newspaper, the view is promulgated that the discord has its roots in the hasty merger five years ago between then Dewey Ballantine and LeBoeuf Lamb Greene & MacRae. ‘The partners from the LeBoeuf side of the combined firm are the ones leaving in their droves,’ says the report.
