Nancy Grimes, President and Managing Partner of GLI Global Recruiting Network, recently addressed the rise in lateral moves in major legal markets Chicago, Philadelphia, New York and Washington, DC.
“Books of business are definitely in high demand in the current economic climate. However, I’ve noticed many law firms are finding increasing value in both the experience and contacts in house counsel can bring to their firms. Many times, the in house attorneys’ client list can be as valuable as an inventory of paying clients. I’ve spoken with many lawyers who’ve recently moved from in-house opportunities to law firms due to the firm’s increased work load. Expertise is golden. Case in point – the recent Supreme Court decision regarding health care has created an influx of business for many firms. Thus, the work is there – they just need attorneys with the expertise to service it. The need for specialists who can complement existing practice groups and fill gaps is a trend that I think will continue grow for some time.”
According to Grimes, the recent demise of powerhouse Dewey & LeBoeuf also contributed to the rise in lateral movement. “Many firms who were able to snag Dewey’s top notch talent had to also acquire junior attorneys to support those partners. Other firms who were not able to capitalize in the acquisition of Dewey lawyers decided to keep looking for other top drawer talent. I think even the smaller law firms will look to increase their lateral recruitment in 2012 in an effort to expand their existing services and add to firm revenue. Firms hope to hire new lawyers who will bring new clients to the firm that fall into sectors the firms are trying to expand.”
It appears litigation positions represent an overwhelmingly large portion of the lateral market surge. Labor and employment, health care and, to the surprise of many, corporate, are also having a solid year as opportunities in those practice areas are seeing a noticeable increase compared to 2011 and 2010.
Nancy Grimes founded Grimes Legal, Inc. (GLI) in 1986 to provide businesses with unique resources for locating, qualifying and recruiting proven performers in diverse areas of specialization. We achieve this by first working to understand the business needs of our clients. This requires thorough research into nuances of the industries in which our clients flourish, learning the philosophies of management which guide our clients’ business and professional strategies and focusing objectively on their individual cultures.
Contact Grimes Legal for career counseling. Not only does Grimes Legal assist attorneys in the search for new employment, we also pride ourselves in assisting attorneys in strategically mapping their careers throughout the various stages of practice; from associate, to partner, to department head, to managing partner. We at Grimes Legal go the extra mile, investing in you and your future, arming you with the ammunition you need to succeed. Our program focuses on intense, personalized career consultation whereby the pace and intensity are individually adjusted according to each client’s needs. Support is provided when it is needed, as long as it is needed. Contact Grimes Legal to discuss your career goals and aspirations.