Amid Industrywide Uncertainty, Skadden Moves Forward With New Partner Promotions
In keeping with firm tradition, Skadden, Arps, Slate, Meagher and Flom stayed on course in selecting its new partner class for 2020, despite unprecedented conditions.
April 06, 2020 at 12:17 PM
4 minute read
Skadden, Arps, Slate, Meagher & Flom's (Photo: Diego M. Radzinschi/ALM)
While much of the law firm news of late has centered around layoffs, partner payout holds and salary reductions, Skadden, Arps, Slate, Meagher and Flom continued a celebratory tradition this month, albeit under unprecedented circumstances, announcing the promotion of 13 attorneys to its partner ranks.
The firm's new partners, across eight offices in the U.S., London and Hong Kong, were welcomed in what is an annual April ritual at the firm, which took on some modifications this year in light of the COVID-19 pandemic.
"Our new partner promotion process starts in the fall and culminates at the beginning of April each year, which coincides with the anniversary of Skadden's founding," Eric Friedman, executive partner at Skadden, said in an email.
Friedman said the firm stayed on schedule in that process "despite the COVID-19 crisis," evaluating candidates throughout March.
"On Tuesday, our board unanimously approved submitting the candidates for partnership approval. Yesterday, we convened a WebEx meeting of our partnership to review the candidates and, in a first for us, our partners approved the candidates using the WebEx polling feature," he said.
The firm did not respond to questions around whether it had undertaken conversations regarding layoffs or other measures in response to the economic effects of COVID-19.
But Friedman did say that faith in the firm's model and current financial circumstances allowed the partnership process to move forward as per usual.
"Partnership promotion decisions at Skadden are viewed as long-term investments," Friedman said in an email. "We were undeterred by the COVID-19 pandemic as we are confident in our future. Making investments in incredibly talented new partners will help ensure our continued success."
Joining the partnership at Skadden are Tracey Chenoweth (banking), Dohyun Kim (M&A) and Jennifer Permesly (international arbitration) in New York; David Clark (M&A) and Marcie Lape (litigation) in Chicago; Paul Schockett (tax) and Julia York (antitrust/competition) in Washington, D.C.; Peter Mair (real estate) and Virginia Milstead (litigation) in Los Angeles; Shu Du (China corporate) in Hong Kong; Andrew Good (white collar crime/government enforcement) in London; Ken Kumayama (IP) in Palo Alto and Jenness Parker (litigation) in Wilmington, Delaware.
Chenoweth, the new banking partner in New York, said being promoted during a pandemic, while a unique experience, will not change how she approaches her work.
"We counsel clients facing very complex issues every day," she said. "In the banking practice, we are seeing a surge in demand as clients seek guidance on how to best navigate this crisis."
Chenoweth said one thing that did change was how the firm celebrated the promotions.
"This is certainly not how I expected to be celebrating becoming a Skadden partner," she said. "That being said, we are adapting to the new normal. The traditional toasts have been replaced by online video chats and virtual congratulations, but it has certainly been a memorable experience."
In an internal statement to the firm regarding the promotions, Friedman said "We and those who have preceded us have weathered many storms over the years. As we continue to move forward through these unprecedented times, I have great confidence in the firm we've built and continue to build for the future."
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