Categories:Corporate

Greenberg adds to hiring spree with W&C partners

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  • Well, well. When Maher joined GT, the fanfare was out. The legal press was trumpeting a new beginning for law firms! And now we have the first hires. Three W&C partners who my sources tell me will bring with them very little work and who practice in an area which I supect most GT partners in the US can just about spell. Where on earth is the client synergy? I have put a very large bet on GTM lasting as a serious entity for about 2 years.

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  • It seems like there is an article almost everyday of a high profile partner departure at White & Case these days. Seems like the smart money is on getting out now before it is too late!

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  • What a canny move by Maher. One banking partner does not a finance practice make. No institution will follow one partner. But with the cap mkts team, he has just bought an investment banking client base. Can he do the same in corporate? If so, he might just be creating a London office with a substantial tranactional core; something none of the US firms have done for some time. This is one I shall enjoy watching.

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  • Watch this space!

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  • I can only ssume Anonymous of 11.27am is either Maher himself, a relative, or the headhunter who placed the W&C partners. To buy an investment banking client base, you have to recruit people who can bring a client base. As far as I can work out, these three have all drawn work from W&C's institutional clients - these clients plainly won't move to a firm with absolutely no reputation in captal markets work. Keep taking the happy pills Anon 11:27!

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  • In the same way that Mayer Brown partners and clients wouldn’t flee in Maher’s direction. The previous blogger exhibits no logic and his snide point quite frankly does not stack up.

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  • Err....no! Maher is a rainmaker of the highest order. Who said he wasn't? So what logic do I lack? Ps really not sure logic can be "exhibited" but heh, I wouldn't want to be accused of being snide again

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  • I haven't heard of Simon B (5:23 pm) All I know about Simon B is that he cowardly withholds his last name. Why do you lawyers do this to each other? You all make your millions, be it in Pounds, Euros or Dollars. Instead, Mr. B., you should wish Mr. Maher success and congratulate him for moving forward with GTM. Mr. Maher is an honest man, and honesty always pays off. From the other side of the globe, we send you our best wishes, Mr. Maher.

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  • Simon B must be old school partner - you know the kind - still believes the world hasn't changed; clients will never leave Magic Circle; give it a few more months and the world will return to its old ways; let's just put rates up and charge clients more etc. Sadly Lehmans has gone. So have whizzy finance structures. Clients will follow teams. Why didn't White & Case ever do real corporate work if the institutional clients were in the bag? It never had the right team. There is room for Maher's new crowd. Will be fascinating to watch. No this isn't Maher, relative or SSQ consultant!

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  • I believe Simon B is a W&C partner. He follows the typical W&C modus operandi. When one is a partner of W&C, the other W&C partners will say that person is the greatest lawyer in his/her field. However, whenever a W&C partner voluntarily leaves W&C, he/she automatically becomes a pariah and is "trash talked" by the W&C partners who stay ("that partner was not very good", "has very little work", "no book of business or client relationships", etc.). It seems Simon B is trash talking the W&C partners who have left to join GTM.

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  • Thank you all for your comments. You've all missed the point which I've noticed isn't particularly unusual. Where have I criticised Maher? Nowhere. He's a star lawyer who wanted to be in charge of something. GT offered him a star package. Good luck to him. But even someone who reads Noddy guides on management and strategy will realise that if you hire people whose expertise bears little or no relationship to the Firm they're joining, it aint gonna work. And Anon of 8.12pm, the last time I looked Mayer Brown wasn't a Magic Circle law firm. But heh, you MUST know better. Of course, none of you sleuths have worked out what's really going on......I've put another large bet on a certain Mr Maurice Allen joining the new venture. And then the fireworks can really begin - not sure there is a room big enough in London to hold two egos the size of PM's and MA's! PS -I'm not a W&C partner, heaven forbid!

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  • I just love to read all this talk from the armchair experts who have the "pulse of the city" re: "canny move" and "smart money is on getting out now before it is too late". What the hell? Everyone knows White & Case has been making a partner headcount reduction .....so not entirely sure why moving at such a time (coincidentally or not, I wouldn't know) in such difficult market is necessarily something to make wild assertions about. Further, who gives a damn really - clearly and perhaps strangely you do, but who else? Lawyers switch firms all the time, including partners, some by choice, some not by choice. It is just the way it is. Lets leave the snide remarks and dramatics for publications like News of the World hey, and start acting a bit more like what we hold ourselves out to be - professionals.

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  • well said! Not meant to be snide.

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  • If the News of the World started publishing thoughts on why partners have moved law firms, they'd have no circulation. Stop being so boring, Perplexed. Sadly, this kind of stuff is interesting to some of us.

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  • Just what we needed, another holier than thou blogger thanks to "Perplexed". He makes a passionate plea for us to cast aside snide remarks and then insinuates that the partners that have left W&C may not have done so voluntarily. Tut, tut. Not very subtle. He must be drinking buddies with Simon B. Get over it. The firm has lost some good partners. That's what happenns when the ship has no visible captain. Ask Cadwalader. Ask Paul Hastings. Morgan Lewis. Morgan who? W&C will limp along minus some stars in London. As this is all beneath Perplexed, no doubt we won't be seeing him here again. Shame.

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  • As an institutional client - I can't imagine moving out of the magic circle. I'm just interested has any of these US law firm start ups actually been successfull I can't think of a single one. I had an interview at Skadden and they said that they would not try and compete with the MC rather they were a gateway to Europe - that seemed to make sense.

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  • Your missing the point, Greenberg Traurig Maher is a separate entity to Greenberg Traurig We are dealing with two separate LLPs run by completely different people. This is not an American Start up, it’s actually a joint venture between two distinct groups of lawyers. Besides already some of Mayer Browns institutional clients have fled in the direction of GTM LLP. GTM LLP brings forward a new philosophy and fundamentally a firm that is very different to any law firm we’ve seen in the past.

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  • Paul, is that you?
    Good luck to GTM, but come on, "GTM LLP brings forward a new philosophy and fundamentally a firm that is very different to any law firm we’ve seen in the past."

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  • "Just what we needed, another holier than thou"... I love how you assume my gender, several times over no less. I'm actually a she not a he.

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  • You're very well informed 2.34, name names please. And that rubbish put out about Rentokil doesn't count, they're not an historical Mayer Brown "institutional client" and they instruct the Magic Circle on premier work.GTM marked up any actual announced deals yet, its been 3 months?

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  • Re "Just what we needed, another holier than thou"... To answer your question , you are correct, you won't be see "him" here again because, "he" is a she....

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  • to: Anonymous | 17-Aug-2009 6:53 pm.
    What high profile departures are you referring to? I don't think any of the W&C people that moved to GTM would be considered "high profile".

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  • Does that in-house lawyer follow law firms ?No US firms have done well ? W&C have about 400 lawyers in London , a leading position in banking, projects, capital markets and structured finance as well as acting on major corporate deals.

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  • Amazed, it is truly amazing that you are using W&C as an example of a successful US law firm in London! Please tell me how does W&C stack up against Freshies, A&O, Slaughters et al? My point was with all their resources the US firms always end up second tier at best or ultimately bidding a retreat from the London market. As an institutional client in a harsh economic climate I can get a good deal from my MC law firms who will always be around and who will bend over backwards to add value. US firms in London are invariably led by overpaid bullish partners who can talk the talk but offer little assurance for the longer term. They may be able to persuade some vain old senior partner sitting in a Wall Street firm who has a little cash to burn in the medium term to give them a shot but I take a little more persuading.

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  • To: "To Amazed"
    Dude, you must be seriously jealous of the pay at US Firms. Grow up, Get Ambitious, Join a US Firm; Get Paid

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  • Reading through these comments is to appreciate the insularity of many within the profession who cling to the quaint notion that clients will continue to pay a premium for a brand name. No more. We will pay for that mix of professional skills and human attributes which generate confidence, trust and respect. Shame upon you who would rather GTM be stillborn than flourish. Do you bastions of the free market find an unleashed Maher so troublesome that you perforce retreat into the lairs of your precious Magic Circle firms? Do you not register the passing of an era? GTM is tilling whilst you languish. Is their business model perfect ? No. Will it develop and adapt? Yes. Is it the seed of fertility in a profession made barren by fear? Yes.
    So - for those who revel in the negative, when considering GTM, please respect the adage that if you are unable to be kind at least have the decency to be vague,

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  • To anon @ 2.04 am! For your information I am a busy and ambitious executive in a multinational I have several homes in exclusive locations, a daughter at a leading independant school and drive a supercar. So go back and hide behind your desk and hope that nobody notices that you are being overpaid for doing sod all. If you didn't sleep during the day you wouldn't be up late at night writing such tosh. I am not criticising US law firms per se I think it healthy for competition and it keeps the MC on their toes. My point is in a bear market people are more risk averse and in a bull market generally less risk averse the Business of Law is Risk Management you do the maths.

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