Source: New York Law Journal
By Christine Simmons
The largest firms in New York have continued to hire lateral partners at a rapid clip this year, extending far into the summer months.
"It's a 12-month cycle now," said Jon Lindsey, New York founding partner of recruiting firm Major, Lindsey & Africa. "It used to be one or two months, now it's nonstop."
Lindsey and law firm leaders said the number of moves in New York in 2016 will likely be in the ball park of the past couple years, which have seen some of the highest lateral activity. Meanwhile, key partners this year are moving away from law firms that traditionally didn't see exits of leading rainmakers.
Lindsey said he has seen many regulatory hires in New York this year, including antitrust, securities enforcement, tax controversy and attorneys who defend clients from Foreign Corrupt Practices Act and health care fraud claims.
"There are certain practice areas that are busier under Democratic administrations," he said. "It's as if the lateral market is predicting the Democrats will be elected in November."
He added that "there's always a demand for big ticket items, so bet-the-company litigation, M&A and private equity is still very active," as well as "anything that can command premium fees, where clients don't push back too hard on billing, because they're getting high-level work."
Read more of this feature at New York Law Journal.