Media Monitor
February 2, 2016

Legal Education/Legal Market

 

 

Corporate Counsel

 

 

 

  • Navigator Energy Taps New GC: Navigator Energy Services, a Dallas-based pipeline operator, hires Kevin Strehlow as its new general counsel. (CC, 1.21)

 

  • Kickstarter adds new in-house attorney: Candace Martin joined Kickstarter PBC as the first ever Commercial Counsel for the crowdfunding website earlier this month. Martin will work alongside General Counsel Michal Rosenn, who has been with the company since 2012 and took over her current role last September. (IC, 1.22)

 

 

Risk/Compliance

 

Firms

 

 

 

 

  • Report: 2015 a Volatile Year for Law Firms: A year-end report issued by Wells Fargo Private Bank’s Legal Specialty Group states that 2015 was a difficult one to characterize. Firms that are typically considered peers showed a great deal of disparity in their financial performance. (AL, 1.29)

 

  • Ex-Howrey Chair Discusses His New Shop, Old Firm’s Demise: Former Winston & Strawn litigation partner Robert Ruyak spoke with The Am Law Daily about his recent decision to start his own boutique, the current litigation landscape and the fall of Howrey, a now-defunct firm he once chaired. (AL, 1.28)

 

  • By the Numbers: Are the Biggest Firms the Most Profitable? The short answer: no. Data on Global 100 firms from our researchers and analysts at ALM Legal Intelligence shows that firms with fewer offices and fewer foreign offices tend to have higher profit margins and profits per partner than bigger, more global firms. (AL, 1.28)

 

 

 

Wall Street

  • HSBC Ruling Could Bring Big Changes to Monitorships: In a ruling with major implications for companies with corporate monitors, a judge has ordered HSBC Bank to make public a monitor’s report on its efforts to comply with anti-money laundering laws. (CC, 2.1)

 

 

Alternatives/Legaltech

 

 

  • A mighty wind: It’s barely past the middle of January as I sit to write this editorial and already the waves of change, some might even call them disruption, are crashing on the shores of the Canadian legal business. There’s two more notches in the lipstick case of the globalization of legal practice with the arrival here of Axiom, which has purchased the general counsel business of Canadian legal services pioneer Cognition LLP, and international labour and employment firm Ogletree Deakins Nash Smoak & Stewart PC, which gets its first beachhead in Toronto. (CL, 2.1)

Legal Education/Legal Market

 

 

  • This Law School Is Bringing An Outsourcing Company On Campus: In a nod to the shifting job prospects that U.S. law school graduates face, Suffolk University Law School is partnering with an outsourcing company to convert an underused room in the back of its library into a legal delivery center. (BL, 1.26)

 

Corporate Counsel

  • Verizon GC: We Don’t Need Law Firms At Our Business Meetings: When Big Law Business has asked general counsel over the last eight months where they’d like to see outside law firms improve, a good chunk of them have given the same answer: “Firms should learn more about our overall business.” Craig Silliman, executive vice president for public policy and general counsel at Verizon, has a different take. (BL, 2.1)

 

  • JPMorgan Chase Atty: Bank Will Spend $500M on Cyber Security: “JP Morgan is going to spend a half-billion dollars on security this year, and we still feel challenged,” Andy Cadel, general counsel, IP and data protection for JP Morgan Chase told a crowd of IT professionals assembled at conference earlier this week. (BL, 1.28)

 

 

  • For Aon GC, Caffeine is Key: What does it take to run the legal department of a $12 billion company with 72,000 employees? A lot of caffeine, said Peter M. Lieb, who since 2009 has been EVP and General Counsel at Aon, global risk management, HR consulting and reinsurance. (BL, 1.20)

 

Law Firms

  • Mass Partner Exodus Hits Chicago Firm Schiff Hardin: There’s a big shake-up underway at Schiff Hardin LLP, a Chicago-based law firm with 400 attorneys. A group of 22 partners, led by longtime firm leaders Robert Riley and Ronald Safer, are leaving to launch their own firm, the two said Friday. (WSJ, 1.29)

 

 

 

 

Wall Street

 

  • JPMorgan Pays $995 Million to Settle Ambac Lawsuits: JPMorgan Chase & Co. agreed to pay almost $1 billion to resolve claims by Ambac Financial Group Inc. that it was duped into insuring mortgage bonds backed by shoddy loans, clearing the way for approval of a larger settlement over similar allegations. (BL, 1.26)

 

Employment

 

Alternatives/LegalTech

  • Richard Susskind on AI, Book Writing (with his Son) and Expanding into the Mainstream: For more than 30 years, Richard Susskind has been one of the loudest advocates for changing the way lawyers practice. His main theme has been that the legal profession must reframe its delivery systems to distinguish between “bespoke” work (a British term for hand-tailored suits created to the exact needs of a patron) versus “commodity” work that can be processed via computers or low-level staff.  (BL, 1.28)

 

 

  • Is Big Law Having Its Kodak Moment? A recent report suggests Big Law is having its Kodak moment, wherein a famous company with a fabulous brand and fantastic market share that misses new technology and goes bankrupt. (BL, 1.28)

 

 

Additional Legal News