White-collar work is hopping right now. The federal government has ramped up its criminal investigations and civil enforcement actions in recent years. The Securities and Exchange Commission’s enforcement actions increased from 664 in 2009 to 677 in 2010, and to 735 last year. Meanwhile, at the U.S. Department of Justice, the number of pending corporate fraud cases has risen steadily in recent years, from 529 in 2007 to 726 in 2011. These developments, which are due in part to more vigorous enforcement of the Foreign Corrupt Practices Act, along with the passage of the Dodd-Frank act and the United Kingdom’s Bribery Act of 2010, have led Am Law 200 firms to beef up their white-collar practices.
This year, the cohort of firms expanding their white-collar practices includes Dechert; Gibson, Dunn & Crutcher; Holland & Knight; Jenner & Block; Kirkland & Ellis; Loeb and Loeb; and Pepper Hamilton. “Demand for white-collar attorneys has come in waves,” says Jon Lindsey, a New Yorkbased partner at recruiting firm Major, Lindsey & Africa. “We haven’t seen this level of firm demand for white-collar lawyers since the fallout surrounding Enron.”
