Top Law Schools

Quality post, OP.

How many attys?

jbagelboy wrote:How many attys?

From the press release, it looks like two equity partners and one non equity partner, all corporate. Doesn't mention associates.

Anonymous User wrote:

jbagelboy wrote:How many attys?

From the press release, it looks like two equity partners and one non equity partner, all corporate. Doesn't mention associates.

Just announced this AM, so definitely will be built out over the summer. Probably similar trajectory to Houston.

yeah but y tho?

Abbie Doobie wrote:yeah but y tho?

Boston PE firms.

Kirkland is killing it. Besides wachtell, I think they've got the brightest law future.

Johann wrote:Kirkland is killing it. Besides wachtell, I think they've got the brightest law future.

overexpansion trap tho?

jbagelboy wrote:

Johann wrote:Kirkland is killing it. Besides wachtell, I think they've got the brightest law future.

overexpansion trap tho?

could be. my gut tells me in a globalized world (and a proven brand) theres no such thing.

the latest amlaw numbers indicate to me theres enough growth opps for the V10 (and a couple other players) to basically swallow the legal demand of the V50 and then create 2 stratifications of biglaw - mega firms and rote law firms. rote law firms will be doing a shitload of compliance and Big 4 like tasks, and the top dollar value add will be reserved for the new 15 or so firms absolutely dominating right now. boutiques will of course continue to have their place.

Can't wait to get Lathamed by Kirkland when the recession hits.

Johann wrote: the latest amlaw numbers indicate to me theres enough growth opps for the V10 (and a couple other players) to basically swallow the legal demand of the V50 and then create 2 stratifications of biglaw - mega firms and rote law firms. rote law firms will be doing a shitload of compliance and Big 4 like tasks, and the top dollar value add will be reserved for the new 15 or so firms absolutely dominating right now. boutiques will of course continue to have their place.

I'm sympathetic to this view, but I'd like to hear what others have to say re litigation--will the 2 stratifications be the same there as well?

Jchance wrote:

Johann wrote: the latest amlaw numbers indicate to me theres enough growth opps for the V10 (and a couple other players) to basically swallow the legal demand of the V50 and then create 2 stratifications of biglaw - mega firms and rote law firms. rote law firms will be doing a shitload of compliance and Big 4 like tasks, and the top dollar value add will be reserved for the new 15 or so firms absolutely dominating right now. boutiques will of course continue to have their place.

I'm sympathetic to this view, but I'd like to hear what others have to say re litigation--will the 2 stratifications be the same there as well?

It seems that most publications and commentators expect a stratification to occur or deepen, although perhaps not as extreme as the one johann predicts.

Jchance wrote:

Johann wrote: the latest amlaw numbers indicate to me theres enough growth opps for the V10 (and a couple other players) to basically swallow the legal demand of the V50 and then create 2 stratifications of biglaw - mega firms and rote law firms. rote law firms will be doing a shitload of compliance and Big 4 like tasks, and the top dollar value add will be reserved for the new 15 or so firms absolutely dominating right now. boutiques will of course continue to have their place.

I'm sympathetic to this view, but I'd like to hear what others have to say re litigation--will the 2 stratifications be the same there as well?

I don't think so. Kirkland's litigation practice is shrinking relative to its other practice areas. Doubtful it's going to stratify as much.

Bigger question is prob why this took as long as it did given Kirkland's major client base in Boston.

my statement is def an oversimplification. by "rote" i mean things like fact finding memos in litigation etc, so it wont be your quite bare minimum compliance a lot of big 4 does. its more meant as an example. there will be firms that have the client relationship and handle the day to day work and then firms that handle the truly exceptional work.

for anyone that wants to know what this looks like - here is GE doing it. GE was one of the first major corps to truly focus on carving out an in house legal dept thats as good as external advisors. turns out 30 years later, they are admitting they were wrong. they can cheaper compliance work and rates done by the big 4.

http://www.journalofaccountancy.com/new ... 15836.html

as someone who isnt at a $3mm PPP firm, I'm staying put. I don't think its happening overnight. And I dont necessarily think there wont be a place for the other players. but the huge entry level salaries right out of the gate and huge billable rates paid by clients will probably begin to be separated.

not sure how many chambers rated top partners are going to stick around at non $3mm PPP firms.

linking to the recent PH thread

http://www.top-law-schools.com/forums/v ... 3&t=276620

So when are we going to start hearing about laterals and summers getting insane signing bonuses? Like in 3 months when the office has 50 attorneys?

I may shit on KE for their culture, even if I think it's deserved, but damn if they don't know how to just shower new offices with $$$.

jbagelboy wrote:

Johann wrote:Kirkland is killing it. Besides wachtell, I think they've got the brightest law future.

overexpansion trap tho?

Don't think so. They've been really careful about overexpansion.

Anyone know how one can apply specifically to that office?

^
reach out to the partners in charge via email and they'd forward your app to the appropriate people.

That said, "[t]he new office will be lead by Kirkland partners Armand A. Della Monica, Neal J. Reenan and Ian N. Bushner. No new attorneys will be hired in the short term, Ballis said."

https://bol.bna.com/kirkland-ellis-to-o ... expansion/

Johann wrote:Kirkland is killing it. Besides wachtell, I think they've got the brightest law future.

And yet it's one of the worst places to be an associate

Johann wrote:

jbagelboy wrote:

Johann wrote:Kirkland is killing it. Besides wachtell, I think they've got the brightest law future.

overexpansion trap tho?

could be. my gut tells me in a globalized world (and a proven brand) theres no such thing.

the latest amlaw numbers indicate to me theres enough growth opps for the V10 (and a couple other players) to basically swallow the legal demand of the V50 and then create 2 stratifications of biglaw - mega firms and rote law firms. rote law firms will be doing a shitload of compliance and Big 4 like tasks, and the top dollar value add will be reserved for the new 15 or so firms absolutely dominating right now. boutiques will of course continue to have their place.

Wouldnt you agree, though, that a better metric for this is AmLaw ranking (i.e. PPP and RPP) rather than Vault ranking (i.e. prestige dartboard).

SmokeytheBear wrote:

Johann wrote:

jbagelboy wrote:

Johann wrote:Kirkland is killing it. Besides wachtell, I think they've got the brightest law future.

overexpansion trap tho?

could be. my gut tells me in a globalized world (and a proven brand) theres no such thing.

the latest amlaw numbers indicate to me theres enough growth opps for the V10 (and a couple other players) to basically swallow the legal demand of the V50 and then create 2 stratifications of biglaw - mega firms and rote law firms. rote law firms will be doing a shitload of compliance and Big 4 like tasks, and the top dollar value add will be reserved for the new 15 or so firms absolutely dominating right now. boutiques will of course continue to have their place.

Wouldnt you agree, though, that a better metric for this is AmLaw ranking (i.e. PPP and RPP) rather than Vault ranking (i.e. prestige dartboard).

Yeah absolutely. I more just mean they overlap for the most part but yes the amlaw numbers are the telling part.

Choate just lost head of PE and a member of its exec committee to K&E Boston today. Pretty crazy and surprising. He was widely seen as a future leader of the firm and one of the biggest rainmakers. Huge loss.