HEADING SOUTH - The Southeast is becoming a more attractive destination for law firm expansion, Law.com’s Jacob Polacheck reports. It’s the second-most-preferred region for expansion, with 59% of law firm business leaders targeting the region, just behind 61% for the Southwest, according to the 2022 Law Firm Business Leaders Report from the Thomson Reuters Institute, working with the Center on Ethics and the Legal Profession at the Georgetown University Law Center. The report states that the next most popular region for expansion, the Northeast, was a full 20 percentage points behind, at 39%. But if you’re a large firm leader thinking you’ll be waltzing into the region and scooping up talent without a fight, you could be in for a rude awakening. “Our markets are completely discovered, and there are a lot of big firms in our markets looking to take our clients and our people,” Leighton Lord, chairman of South Carolina-based Nexsen Pruet said. “The war for laterals and the war for clients is going to be really intense in 2023. That’s the thing that I stay up and worry about the most—maintaining our great talent base and the quality of lawyers that we have here.”
PARTNER PROMOTION PIVOT - While several Big Law firms have promoted a record number of lawyers to partner this winter, just who those lawyers are may have something to do with the looming uncertainty of 2023. As Law.com’s Dan Roe reports, an American Lawyer analysis of partner promotions this year uncovered a pivot to countercyclical practices at law firms of varying sizes, including at tech-oriented law firms that have made recent cuts and global law firms that haven’t projected similar signs of excess capacity. But these moves may be more subconscious than calculated. “These are not black-and-white decisions, they’re not formulaic,” said law firm consultant and former Orrick, Herrington & Sutcliffe chairman and CEO Ralph Baxter. “What you may be seeing in a time like this is firms end up promoting fewer people into areas where near-term demand looks to be down than in (practices) that are more robust. But in partner meetings where they are considering these things, I don’t think the discussion treats the slowdown of demand as a reason not to make someone a partner.”
ON THE RADAR - JPMorgan Chase was hit with a breach-of-contract lawsuit Tuesday in Texas Southern District Court seeking $25 million. The lawsuit was brought by Vilt Law on behalf of itself. The suit accuses the defendant of failing to tender the funds, intended to purchase real property on behalf of third party Rum Cay Club, to an interest on lawyer trust account. Counsel have not yet appeared for the defendant. The case is 4:22-cv-04217, Vilt Law, PC v. JPMorgan Chase Bank, N.A. Stay up on the latest deals and litigation with the new Law.com Radar.
EDITOR’S PICKS
You Might Like
4 minute read
Trending Stories
More From ALM
23 Legal Technology Insights for 2023: Annual Trends ReportBrought to you by NetDocumentsDownload Now 
23 SEO Tips to Acquire Clients for Your Law Firm in 2023Brought to you by Sage Marketing SolutionsDownload Now
The Currency of Technology: How Winning Law Firms Are Battling Rising InflationBrought to you by Speech Processing Solutions USA Inc.Download Now
Premium SubscriptionWith this subscription you will receive unlimited access to high quality, online, on-demand premium content from well-respected faculty in the legal industry. This is perfect for attorneys licensed in multiple jurisdictions or for attorneys that have fulfilled their CLE requirement but need to access resourceful information for their practice areas.View Now Team AccountsOur Team Account subscription service is for legal teams of four or more attorneys. Each attorney is granted unlimited access to high quality, on-demand premium content from well-respected faculty in the legal industry along with administrative access to easily manage CLE for the entire team.View Now Bundle SubscriptionsGain access to some of the most knowledgeable and experienced attorneys with our 2 bundle options! Our Compliance bundles are curated by CLE Counselors and include current legal topics and challenges within the industry. Our second option allows you to build your bundle and strategically select the content that pertains to your needs. Both options are priced the same.View Now From Data to DecisionsDynamically explore and compare data on law firms, companies, individual lawyers, and industry trends.Exclusive Depth and Reach.Law.com Compass includes access to our exclusive industry reports, combining the unmatched expertise of our analyst team with ALM’s deep bench of proprietary information to provide insights that can’t be found anywhere else.Big Pictures and Fine DetailsLaw.com Compass delivers you the full scope of information, from the rankings of the Am Law 200 and NLJ 500 to intricate details and comparisons of firms’ financials, staffing, clients, news and events.Legalweek New York 2023March 20, 2023 - March 23, 2023New York, NY Legalweek New York explores Business and Regulatory Trends, Technology and Talent drivers impacting law firms. Learn More GlobeSt. Multifamily Spring 2023March 27, 2023 - March 28, 2023Miami, FL Join the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR! Learn More The Asia Legal Awards (ASLA) 2023March 30, 2023Singapore Where the region's top lawyers, law firms and in-house teams will gather to celebrate their most stellar achievements of the year. Learn More Associate AttorneyLooking for an Associate Attorney with 2 to 5 years experience to handle Labor and Employment Law, Pension Appeals and Workers Compensation.... Apply Now › Finance/Corporate Trust Lawyer - CT or RemoteWe are seeking a lawyer with a minimum of five years of experience in transactional work to join our well-established, nationally renowned C... Apply Now › Transactional Intellectual Property / Corporate Lawyer - CT or RemoteWe are seeking a lawyer with extensive transactional intellectual property experience to join our corporate practice. Candidates should hav... Apply Now › SNYDER SARNO D'ANIELLO MACERI & DACOSTA03/13/2023NJLJ Web Snyder Sarno D'Aniello Maceri & daCosta would like to announce that... View Announcement › COLE SCHOTZ P.C.03/13/2023NJLJ Web COLE SCHOTZ P.C. WELCOME HONORABLE GARRY S. ROTHSTADT, J.A.D. (RET.) View Announcement › GREENBAUM ROWE SMITH & DAVIS LLP03/13/2023NJLJ Web GREENBAUM ROWE SMITH & DAVIS LLP would like to announce that... View Announcement › Legal Newswire |
