CC eyes Indian market with Amarchand hire

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  • Interesting Turn of Events

    This isn't the first time a partner has left a big firm. Needless to say, this is definitely the first time so much hype has been created over an exit. Ultimately, it's a personal choice. Why, oh why, would he feign humility and be subservient to some two bit twenty year old just because he is the "family"? With all due respect, the two bit might be smart. But that..my friends..is not the point. The point is..when you've given ten years to a lawfirm and reached a point beyond redemption, a point beyond which all you can expect is a 2% cut in the equity, why wouldn't you leave to bigger and better things? Is it so shocking? Is there any real reason for the furore? Sharing is caring. Let us mortals live. Make some money. Feed off the carcasses of these rich clients. It's a free country! And..I guess, no matter how many strings are pulled...the firang law firms have concreted their first move into the sector. The whole "India Practice" thing is very smart. Re-locate the teams to India once the market's open, and we have ready made fully functional firms at your service. Most of them comprising of ex-big Indian lawfirm members. Partners, associates etc. On a more sombre note, for Amarchand, that is.. what's happening, boss? First the Bharuchas, now the Capital Markets Man. Where are you heading?

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  • concerned indian lawyer

    I am not sure that I understand the comment "..our second level is strong..." Why are other partners at Amarchand referred to as "second level". I though partners are "first level". Family run establishments will have to change or the Clifford Chance of the world will squash them.

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  • Second level

    Unless, in all fairness, by second level, he means when compared to Rahul who was first level. This would also be strange, since as you have pointed out - all partners should be 'first level' and because Rahul is just two years ahead of Arjun and Yash! Of course, two years make a huge difference when the average level of the capital markets team is about NQ!

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  • Nothing New!!!!

    Do not know why a furore is being created now!!! There have been various similar such instances such as Nihar's exit from WGCO Partha from JSA, Varghese from JSA, all partners and more senior in their practice than Rahul. Neither will AMSS or WGCO or JSA vanish due to such exits. People will obviously move from one pasture to a greener one... If Indian law firms need to retain their talent they may have to do more than just pay them. The chances of a structure like Trilegal or a JSA surviving over the years to come seems more likely than the AMSS structure. Look back at the crawford and the mulla days... Evolution, AMSS management sure needs to rethink their strategy on retention of partners and associates as much as any other law firm but with the shroff's and their extended family holding on to the reins, seems a difficult proposition for them.

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  • interesting...

    Its interesting that the move of a partner has created so much furore.. There have been previously documented occasions of entire teams moving out of law firms - and getting served with legal notices... In any case, I do not see why it is such a sin to quit and join another law firm. After all, its just another job! The day law firms in India become more professional, treat associates and support staff with more respect, share profits with all and sundry, invest in infrastructure and stop treating departures as a personal affront - things will start looking up!!

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  • Begning of an Era

    Well ! Well ! I think we see a trend developing here.....WAKEUP.....Welcome to the Brave New World

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  • Contemplation

    I am not a lawyer, but based on what prospective candidates speak I am not sure that the surge to go back to India has stopped. Also is it true that the "Global Elite" are truly following their international standards in India. Hmmm a thought for contemplation whether these "Best Friend Relationships" are indeed attracting the best talent. All I can say is that the best talent out there is not willing to move to these "Best Friend Relationships" (with the exception of Trilegal). This begs the obvious question of why? And why is this talent happy to move (back?) to an AMSS or an AZB?

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  • Congratulations!

    Firstly, congratulation to Mr Guptan! He has done very well for himself and every Indian lawyer should hold is head up high.
    Secondly, congratulation to Amarchand. They raised the bar for everyone in India; they have trained alot of young lawyers who are now doing very well around the world.
    Thirdly, I dont see why everyone thinks India and family run firms in India are any different to firms anywhere else in the world. Equity partners hold on to their equity with dear life and every associate wants to work less and be paid more and thinks that the grass on the other side is better. Yes the difference is that some Indian partners do treat associates as servants but everyone is free to leave and if that sort of behavior goes on, people will leave in greater numbers. But I see that as a positive both for the associates (who will be happier moving) and the firms (who will learn from their mistakes and improve).
    Look there is a big gap between Indian and rest of the world, but the ROW had a head-start.
    For god's sake, lets all be positive lawyers, the pond is big enough for everyone.

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  • The Family!

    Name 10 family run law firms of international repute. I will give you the names of 500 professionally run law firms of international repute. Name 10 family run law firms which have survived more than three generations and shown consistent standing over a period of 50 years. I will give you the name of many many professional firms which have. Forget the law - give me the name of 10 internationally recognised service sector firms which are family run. Mckinsey - Nope. Bain - Nope. BCG - Nope. E&Y - Nope. Heck, find me five examples.
    There is a reason why family run businesses are very successful when small, and complete disasters when they try to grow beyond being mom and pop shops. And before jumping to an answer, please recognize the difference between family run, and family 'owned' institutions.
    In professional firms, there is a retirement age for the partners. In family run firms, there is none. In professional firms, you are answerable to a body of partners. In a family run firm, you are answerable to a single man or a family and God help you if he or she is in a particularly nasty mood on any given day. In professional firms, you have to deal and compete with the Partner's favourites. Thats tough, but not half as bad as having to deal with the Partner's favorites and their kids! Where is the comparison? In which world do you think that working for a family run institution is comparable to working for a professional organisation?

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  • Long Live Amarchand!

    I dont think Cyril or Shardul need to wory with one exit of a partner! Amarchand is big enough to digest such exits.

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