Credit: Tanagorn Theryphukio/Shutterstock Large Lateral Moves, Including Atlanta Attorneys, Are Raising the Competitive Ante for Law Firms
Precarious law firm partnerships have been disrupted by pandemic-era working conditions, industry consultants, recruiters and firm leaders have observed. New alliances have been formed across offices at the expense of the ties that used to bind lawyers with regular office attendance.
May 15, 2023 at 05:00 AM
7 minute read
The original version of this story was published on The American Lawyer
When Paul Hastings recruited a 43-lawyer restructuring team from Stroock & Stroock & Lavan, chair Frank Lopez called it "one of those unicorn situations that happens once in a decade in the legal market." Yet in post-pandemic hindsight, the Am Law 50 firm's eye-catching acquisition appears to have been at the front end of a wave of ever-growing group departures involving professionals in different cities.
Less than one year later, a 44-person cybersecurity team from Lewis Brisbois Bisgaard & Smith roughly matched the Stroock departure by relocating to Constangy Brooks Smith & Prophete in 17 different cities. And within the last month, 130 lawyers have defected from Lewis Brisbois to a nationwide startup created by former labor and employment leaders.
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