Patrick Smith
Patrick Smith, based in New York, covers the business of law, including the ways law firms compete for clients and talent, M&A and corporate work, leadership and marketing innovation. Reach him at [email protected] or on Twitter at @nycpatrickd
March 31, 2023 | The American Lawyer
Fried Frank Holds the Line on Revenue, but PEP, RPL Slide Double Digits as Transactions Take a DiveChair David Greenwald said a combination of increased expenses and slower transactional work outpaced revenue generation, but that the firm is heading in the right direction.
By Patrick Smith
6 minute read
March 30, 2023 | The American Lawyer
What Goes Up Must Come Down: NY Firms Come Back to Earth After Record 2021Double-digit drops in revenue, PEP and other key financial metrics were the norm in 2022 for New York's elite firms.
By Patrick Smith
7 minute read
March 29, 2023 | The American Lawyer
'Body Blows but Nothing Fatal': With Cap Markets and M&A Down, Cahill Drops 19.5% in RevenueAfter explosive growth due to strong transactional and capital markets work in 2021, the flip side of that equation was some significant drops in most key financial metrics.
By Patrick Smith
5 minute read
March 28, 2023 | The American Lawyer
Deal Watch: Deals Down, Debt Offerings Up as Banking Saga ContinuesDavis Polk's Neil Barr said it's too early to say whether the events of the past two-plus weeks will have a lasting impression on both the banking industry and the deal market moving forward.
By Patrick Smith
7 minute read
March 27, 2023 | The American Lawyer
Shearman Sees 10% Revenue Drop, 17.5% Slide in PEP After Record 2021While Shearman saw a 15.8% decline in the equity partnership, the firm welcomed 18 lateral partners last year.
By Patrick Smith
6 minute read
March 24, 2023 | The American Lawyer
'Second-Best Year Ever': Paul Weiss Saw Slight Decline in Revenue as PEP Fell 7%Firm chair Brad Karp said a decline in headcount was a consequence of "not over-hiring," and as associates left in the lateral market last year, the firm chose not to replace them.
By Patrick Smith
7 minute read
March 23, 2023 | The American Lawyer
Deals or Bust: Corporate Lawyers Map Out Path Ahead for 2023It seems no one is willing to put up with a slump in deals for too long.
By Patrick Smith
11 minute read
March 22, 2023 | The American Lawyer
McDermott Lands Corporate Attorneys From Gibson, Pillsbury in West Coast Build-OutShaalu Mehra and Matthew King join the firm as it looks to grow its emerging companies and IP transactions practice in California.
By Patrick Smith
3 minute read
March 21, 2023 | The American Lawyer
Deal Watch: Cleary Leads Big Week in Deals as Bank Crises Bring More Work to Law FirmsDeal activity is strong for the second straight week, while a host of law firms landed on several big bank collapse deals.
By Patrick Smith
9 minute read
March 21, 2023 | The American Lawyer
Goodwin and White & Case Recruit Partner Groups of IP LitigatorsBig Law is luring IP litigators from rivals this spring, with Goodwin taking a three-partner team from White & Case, which itself added 10 lawyers from Paul Hastings.
By Patrick Smith | Jessie Yount
5 minute read
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