Amarchand breaks the mould with two Mumbai lateral hires
Related images
Top Indian firm Amarchand & Mangladas & Suresh A Shroff & Co has taken the highly unusual step of making two lateral hires - just a few months after it shook up its lockstep and internal governance.
Amarchand has recruited Tushar Mavani, a corporate partner from Mulla & Mulla & Blunt & Caroe and Ashish Jejurkar, head of Luthra & Luthra’s Mumbai corporate practice.
Amarchand managing partner Cyril Shroff told The Lawyer: “These two people have the right temperament and drive to be part of our vision.”
“There’s impetus and a desire to grow our firm, both in terms of influence and numbers.”
The dual hire will take the number of partners to 42 across its five offices in Mumbai, Delhi, Bangalore, Hyderabad and Kolkata.
The firm has also announced the promotion of Bangalore senior associate Ganesh Prasad, who will relocate to Mumbai and join the partnership next year.
The move comes in the wake of a far-reaching restructure of the firm’s partnership and corporate governance, revealed by The Lawyer earlier this year (23 February).
Having operated an eat-what-you-kill system for two decades, Amarchand became one of the first firms in India to implement a lockstep.
Shroff said: “Lockstep has a more equitable feel about it. We wanted clarity in terms of compensation and that is very important in creating a long-term institution.”
View results 10 per page | 20 per page | 50 per page
Readers' comments (24)
Anonymous | 13-May-2009 12:19 pm
Can't work this one out - this firm is being applauded for hiring laterals and not promoting associates from within the firm?!? Surely this bolt-on "building" approach doesnt enthuse the rank and file at Amarchand!!
Unsuitable or offensive? Report this comment
Anonymous | 13-May-2009 1:38 pm
I see this as nothing more than a message to the senior associates in Amarchand that they are not good enough so lateral partners are needed. Both these laterals not really heavyweights who bring in a book of business or great reputations.
Btw - the whole senior associate/principal associate thing is mind boggling.
Unsuitable or offensive? Report this comment
Ex-amss | 13-May-2009 6:53 pm
Amarchand prides in holding out against the foreign competition and by potraying a superiority image of quality and culture.
The lateral hires seem to speak a lot of its current strength (rather weakness?)and even more so when they have merely promoted one senior associate among their ranks!!
Shows the falling quality at Amarchand and the need for reinforcement from external sources.
Unsuitable or offensive? Report this comment
Anonymous | 14-May-2009 5:03 am
Senior Associates in AMSS are a joke really - one takes under 3 years to become a SA. This is a key fact and must be highlighted as scores of clients have been paying thru their nose for real bad quality work purpotedly done by 2.5 year experienced attorneys who masquerade as Senior Associates. If any AMSS SA's are reading this -pls stand up and put forth your version.
Unsuitable or offensive? Report this comment
Amarchand SA | 14-May-2009 1:19 pm
I am a SA in Amarchand. I cannot disagree with the comments posted above for a large population of the SAs - which now outnumber even junior associates. I find it highly frustrating that every Tom, Dick and Haryr is made up to SA and thus devalues the SA tag. While there are roen apples, thr r sum geuinely good SAs also - though i admit the best people are no longer in AMSS
Unsuitable or offensive? Report this comment
Anonymous | 14-May-2009 5:29 pm
whats all the fuss about?? this is a time of consolidation and cyril is only picking up available talent. knowing Amarchand, they must be having more up thier sleeve. this is not mutually exclusive with internal promotions. in fact, the firm is sending a strong message that internal quality need to addressed and its not a free ride. its perhaps been too easy in the past and some mediocrity has crept into the partnership. they should fire a few partners who dont perform!
Unsuitable or offensive? Report this comment
Anonymous | 14-May-2009 5:33 pm
i agree with the comment about delhi. having worked with both offices, there is some good quality at both. at delhi however, there are too many partner aspirants who dont deserve. hope the firm dosent promote them en masse! it would really lower the quality bar. this is a time when the firm can choose as there are not too many options outside. they should ruthlessly fix quality and get rid of mediocire associates and partners.
Unsuitable or offensive? Report this comment
Anonymous | 14-May-2009 5:33 pm
the delhi guys are so-so! though a few are good...
Unsuitable or offensive? Report this comment
Anonymous | 15-May-2009 10:18 pm
I posted this on another thread here, but got no responses, so here I go again. Please respond if you have any information on this:
I am a relatively new associate in the US with a JD - working for a mid-tier firm. I am originally from India and would like to return to India and work for a firm. I would like to get some info, as I am not connected with anybody in the Indian legal industry. I know that the salaries structures are not as high as they are here in the US, if I were to literally perform a dollar-rupee conversion, but then again, I am not moving back for the money. At the same time, I do want to at least maintain a decent lifestyle. Having said that, here are my questions:
1. If I plan to move back to India after a couple of years of experience, would I be able to come in as a lateral senior associate at one of the good firms in India (AMSS, Fox Mandal etc)?
2. If the answer to q #1 is a no, then how many years of US experience would qualify me for a senior associate position in India?
3. Third, as a senior associate, how much can I expect to earn in base salary? I understand each firm might be different in its structure, but I am just looking for some ball-park figures here. For example, here we could say that mid-tier firms pay about $10K a month in salary, and the number adjusts as you go up or down from that point with the largest firms paying up to $160K a year for first year associates.
4. Finally, since I have no family connections or prestigious last names, will I still be able to get rewarded for my work efficiently? I understand this is an arbitrary question, but almost everyone that I talk to who is from India suggests that I not go back because there is too much red tape in the Indian legal industry and that ordinary employees (in terms of connections) may not really shine that well. I don't want to believe in this, but I would like to receive your comments nonetheless.
Please share whatever information you could on this issue. Again, there are no websites or blogs on the Indian legal industry as there are for US or UK firms. This makes it very hard for people like me to get any meaningful information. Hence, I ask for your assistance.
Thank you.
Unsuitable or offensive? Report this comment
Anonymous | 18-May-2009 10:10 am
Dear US based Anon, answer to your queries can be summarised as follows-
1. If you don't know anybody higherup in Indian legal industry/system, forget about getting job in a good law firm, irrespective of how good or bad you are. Having said that, some firms like FML or AMSS may happily recruit you only because you are US-return.
2. In case you are able to get a job, the level and pay shall always be at the sole discretion of the managing partner. However, once recruited at a level of position and pay, you need not worry at all for future performance because the managing partner shall try his/her best to justify the decision to recruit you. Hence, you will never fail.
3. Alternately, you may wait till international law firms are allowed to set shop in India.
Unsuitable or offensive? Report this comment