Therese Doherty ()
Therese Doherty, head of the securities, futures and derivatives litigation practice at Herrick, Feinstein in New York, is headed to Mintz, Levin, Cohn, Ferris, Glovsky and Popeo. Her move to Mintz Levin comes a month after the firm ended merger talks with Crowell & Moring.
In heading to Mintz Levin, Doherty re-joins former Herrick colleague Christopher Sullivan, a former executive committee member at the firm who decamped for Mintz Levin in early March. She takes with her Herrick litigation associate LisaMarie Collins, who is joining Mintz Levin as of counsel.
“I don’t [change law firms] very often, but Mintz Levin has a stellar reputation and a little bit of a deeper litigation bench,” said Doherty, who spent the past 16 years at Herrick, a firm she joined in 2001 from what is now called Graubard Miller.
Asked if the demise of Herrick’s tie-up talks with Crowell & Moring, which began late last year, played into her decision to dip into the lateral market, Doherty said that she was looking forward to her new role at Mintz Levin. She cited specifically a policy at the firm that incentivizes partners to share origination credits for client work, something that she said “breeds a collaborative culture.”
Robert Bodian (pictured right), Mintz Levin’s managing partner, said the firm shifted its compensation structure several years ago to mandate that no one partner can claim 100 percent of a client’s origination credit. Bodian, who has previously discussed such a policy, said it often helps in the firm’s lateral recruitment efforts.
Bodian praised Sullivan—Doherty’s predecessor as co-chair of Herrick’s litigation group—as having already worked with roughly 20 different Mintz Levin lawyers in his first two months at the firm. (Sullivan, who like Doherty is based in New York, recently returned from a trip to Mintz Levin’s Boston headquarters.)
Mintz Levin is now in the third year of its new compensation regime, said Bodian, noting that the firm also has a production credit system that encourages younger partners and women to become more involved in the lifecycle of the client-firm relationship, rather than locking in clients to certain partners.
“That helps them grow their business and rewards them appropriately,” said Bodian, adding that Mintz Levin also awards credits for certain matters, not just specific clients. “And we think this has really helped increase our profitability.”
The American Lawyer reported earlier this year that the 445-lawyer Mintz Levin saw gross revenue rise slightly in 2016, to $372.5 million, while profits per partner climbed 10.3 percent, to $1.175 million. Revenue per lawyer increased 3.7 percent, to $835,000, a figure that Bodian noted marked a substantial increase from the roughly $750,000 mark it stood at several years ago.
Bodian said that Mintz Levin’s interest in Doherty stemmed in part from some shared clients, such as Boston-based brokerage Fidelity Investments, as well as his firm’s securities litigation expertise. Doherty said she frequently travels across the country—to places like California, Denver and Florida—to handle arbitrations, civil litigation and enforcement proceedings representing broker-dealers, as well as their affiliated traders and officers.
Doherty and Mintz Levin declined to identify the legal recruiter used in brokering her move to the firm, which has been busy in recent months adding partners.
In March, Mintz Levin grew its New York office by hiring Greenberg Traurig corporate and securities partner Anthony Marisco and bringing back former associate C. Anthony Mulrain—a founding and managing partner of Gordon Rees Sully Mansukhani’s Atlanta office and chair of the firm’s national sports, media and entertainment practice—as partner for its litigation and sports law groups.
Mintz Levin has also been busy hiring in California—Bodian said the firm is looking at expansion opportunities in Los Angeles—by grabbing K&L Gates corporate partner Adam Lenain in San Diego and Kilpatrick Townsend & Stockton patent prosecution partner Alexander Trimble in San Francisco.
As for Herrick, the firm recently watched litigation counsel Anna Hershenberg in New York depart in mid-April to join the International Institute for Conflict Prevention and Resolution as vice president of programs and public policy.
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