This issue is devoted to The Am Law 200′s lateral news. I also have my own job change to announce. In late January, I’ll start as the inaugural CEO of StoryCorps, the national oral history/journalism project. As I wind up 12 years at ALM (half at our sibling publication Corporate Counsel and the rest at The American Lawyer), I’m filled with tremendous gratitude and appreciation for my wonderful colleagues and our readers.

This transition has also been a time for me to reflect back on my six years covering large law firms. There are two trends, in particular, that have surprised me over the last few years and that reflect Big Law’s split personality.