Latham makes a statement with lucky 13
For a firm of its size and ambition, Latham & Watkins has remained curiously under the radar outside the US, emerging only occasionally for significant moves such as 2008's three-pronged launch in the Middle East, before it all goes quiet again. This tendency makes this month's news that the firm is to bring in no fewer than 13 partners from White & Case across London, New York and the Middle East all the more striking.
February 10, 2010 at 06:33 AM
4 minute read
White & Case additions suggest Latham could be set to live up to the brand
For a firm of its size and ambition, Latham & Watkins has remained curiously under the radar outside the US, emerging only occasionally for significant moves such as 2008′s three-pronged launch in the Middle East, before it all goes quiet again. This tendency makes this month's news that the firm is to bring in no fewer than 13 partners from White & Case across London, New York and the Middle East all the more striking.
After all, January's hire of Ashurst private equity partner Graeme Ward was Latham's first UK partner appointment since October 2008 and, in terms of profile, it was solid rather than spectacular stuff. In this context, the contrast with the hiring of the White & Case finance team – the most significant team move in the City banking market since Allen & Overy's 2002 raid on Norton Rose – is particularly sharp.
All in, the latest hires take Latham's London partnership to 56, making it one of largest UK practices built by a foreign firm. The firm is hoping that in London, where Chris Kandel (pictured) leads the four-partner bank finance team coming over from White & Case, the hires will add strength to a practice that has failed to build a reputation to match its strength in capital markets and high yield, despite the past recruitment of partners such as Dan Maze from Morgan Stanley. It's a hard move to fault, promising as it does to build links with institutions like Deutsche Bank and Goldman Sachs.
Similarly, the transfer of partners Craig Nethercott and Glen Ireland will provide useful bench strength in energy and project finance, a no-brainer for a firm with a commanding position in the US infrastructure market.
Meanwhile, in the Middle East, the five additional partners will give Latham the senior bodies on the ground that it has been missing since making its ambitious three-centre launch.
Despite an initially faltering local launch, it is acknowledged that Latham has made considerable ground cultivating state-backed clients in the Middle East, a performance underlined by its appointment to advise on the restructuring of Dubai World.
In total the hires make a powerful statement to the market that, after a difficult period dominated by falling profits and a global redundancy programme that last year claimed 440 jobs, one of the most upwardly mobile US legal firms is mobiling upwards again.
As one Latham partner in London comments: "We had a good year last year and those who wish to join us clearly think the future is brighter here. [The hires are] pretty spectacular and something the firm's worked hard for and considered for a long time."
Latham now also appears to be getting to the point where its collection of partners in the City is starting to reflect the power of the global brand – previously that disparity led the firm to be lauded in Europe before it had the team to deliver. It won't be seriously bothering the magic circle yet, but Latham looks on course to really get in the game.
An improving performance should also lead the US mothership to give its ambitious foreign offices a bit more freedom to get the name out there, though hopes aren't high on that front – even globe-trotting giants have to win the game on the local pitches.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
NOT FOR REPRINT
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View AllAs the Rules of the Game Change, Is the EU Taking a New Approach to Competition?
5 minute readSome Elite Law Firms Are Growing Equity Partner Ranks Faster Than Others
4 minute readTrending Stories
- 1Thursday Newspaper
- 2Public Notices/Calendars
- 3Judicial Ethics Opinion 24-117
- 4Rejuvenation of a Sharp Employer Non-Compete Tool: Delaware Supreme Court Reinvigorates the Employee Choice Doctrine
- 5Mastering Litigation in New York’s Commercial Division Part V, Leave It to the Experts: Expert Discovery in the New York Commercial Division
Who Got The Work
J. Brugh Lower of Gibbons has entered an appearance for industrial equipment supplier Devco Corporation in a pending trademark infringement lawsuit. The suit, accusing the defendant of selling knock-off Graco products, was filed Dec. 18 in New Jersey District Court by Rivkin Radler on behalf of Graco Inc. and Graco Minnesota. The case, assigned to U.S. District Judge Zahid N. Quraishi, is 3:24-cv-11294, Graco Inc. et al v. Devco Corporation.
Who Got The Work
Rebecca Maller-Stein and Kent A. Yalowitz of Arnold & Porter Kaye Scholer have entered their appearances for Hanaco Venture Capital and its executives, Lior Prosor and David Frankel, in a pending securities lawsuit. The action, filed on Dec. 24 in New York Southern District Court by Zell, Aron & Co. on behalf of Goldeneye Advisors, accuses the defendants of negligently and fraudulently managing the plaintiff's $1 million investment. The case, assigned to U.S. District Judge Vernon S. Broderick, is 1:24-cv-09918, Goldeneye Advisors, LLC v. Hanaco Venture Capital, Ltd. et al.
Who Got The Work
Attorneys from A&O Shearman has stepped in as defense counsel for Toronto-Dominion Bank and other defendants in a pending securities class action. The suit, filed Dec. 11 in New York Southern District Court by Bleichmar Fonti & Auld, accuses the defendants of concealing the bank's 'pervasive' deficiencies in regards to its compliance with the Bank Secrecy Act and the quality of its anti-money laundering controls. The case, assigned to U.S. District Judge Arun Subramanian, is 1:24-cv-09445, Gonzalez v. The Toronto-Dominion Bank et al.
Who Got The Work
Crown Castle International, a Pennsylvania company providing shared communications infrastructure, has turned to Luke D. Wolf of Gordon Rees Scully Mansukhani to fend off a pending breach-of-contract lawsuit. The court action, filed Nov. 25 in Michigan Eastern District Court by Hooper Hathaway PC on behalf of The Town Residences LLC, accuses Crown Castle of failing to transfer approximately $30,000 in utility payments from T-Mobile in breach of a roof-top lease and assignment agreement. The case, assigned to U.S. District Judge Susan K. Declercq, is 2:24-cv-13131, The Town Residences LLC v. T-Mobile US, Inc. et al.
Who Got The Work
Wilfred P. Coronato and Daniel M. Schwartz of McCarter & English have stepped in as defense counsel to Electrolux Home Products Inc. in a pending product liability lawsuit. The court action, filed Nov. 26 in New York Eastern District Court by Poulos Lopiccolo PC and Nagel Rice LLP on behalf of David Stern, alleges that the defendant's refrigerators’ drawers and shelving repeatedly break and fall apart within months after purchase. The case, assigned to U.S. District Judge Joan M. Azrack, is 2:24-cv-08204, Stern v. Electrolux Home Products, Inc.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250