Finance Leader Rejoins MoFo, One Year After Leaving for Jenner
David Lynn, whose stint at Jenner & Block lasted barely more than a year, is rejoining Morrison & Foerster as co-chairman of the firm's global corporate finance group.
May 30, 2018 at 04:18 PM
3 minute read
David Lynn, a former U.S. Securities and Exchange Commission lawyer, is rejoining Morrison & Foerster as co-chairman of the firm's global corporate finance group one year after jumping to another firm, MoFo announced Wednesday.
Lynn, based in Washington, D.C., served as chief counsel of the SEC's division of corporate finance from 2003 to 2007, and then was a partner at Morrison & Foerster from 2008 through April 2017. He left the firm for Jenner & Block to become co-chairman of that firm's securities practice last April.
Why return now to MoFo and the practice he helped to build there?
“I think the real driver was sort of looking from the outside, looking in at the practice,” Lynn said. “I think, ultimately, while it was a short time [at Jenner & Block], I gained a lot of perspective there.”
After a bullish run through 2015 and a stagnant 2016, Jenner & Block's financial performance stumbled in 2017. Partner profits dipped nearly 19 percent last year at the firm, which acknowledged it was not satisfied with its financial performance.
Morrison & Foerster, meanwhile. witnessed record-high gross revenue growth last year, eclipsing the $1 billion mark. As gross revenues rose 12.4 percent, partner profits jumped more than 23 percent.
Jenner & Block's relative struggle versus Morrison & Foerster played no role in his decision to switch firms, Lynn insisted.
“I've been doing this for 20-something years now, so I tend to take the long view,” Lynn said. “From my perspective, I'm just trying to think through what's best for the clients I work with.”
Lynn declined to say whether others at Jenner & Block might eventually accompany him in the move. He said the team he is rejoining at MoFo “by and large” includes the exact same people he left behind last year.
Lynn said he had a “really positive” experience at Jenner & Block, but that he was excited by the new hires in MoFo's D.C. office. The firm, which netted a total of four lawyers last year to its total attorney head count, is preparing to move to new offices in 2021 at 2100 L Street.
“We thank Dave for his many contributions and wish him well with his career,” Jenner & Block said in a statement Wednesday. “We will continue to serve our clients with strong capabilities in the securities area across our U.S. platform.”
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