Career Tracker: Where practice demand is falling, and why worked rates are rising
8/14/20 REUTERS LEGAL 22:08:16
Copyright (c) 2020 Thomson Reuters
Arriana McLymore
 
Sara Merken
REUTERS LEGAL
August 14, 2020
Career Tracker
(Reuters) - It's no secret that the pandemic boosted firms' appetite for laterals in some practices - restructuring lawyers for one - as hiring cooled for others. A report this week from Thomson Reuters' Legal Executive Institute put some concrete numbers to the changes in client demand that firms scrambled to meet from April to June.
In its Peer Monitor Index for the second quarter of 2020, the group said demand for legal services overall fell 5.9% compared with the same period last year. By practice, the picture was more mixed: The report said demand was down 7.5 percent in overall litigation, down 10.6% in patent litigation, down 9.1% for tax and down 5.5% across corporate practices. Demand in bankruptcy was up, unsurprisingly, by 6.2 percent.
More surprising was the researchers' findings when it came to productivity and distribution of worked hours. While overall productivity for Q2 declined by 7.2%, the share of that work being performed by partners actually rose - and so did the average rates clients paid.
Why? "Partners with a more 'eat-what-you kill mindset'" plucked what work was available, the report said. Clients, meanwhile, needed help that less experienced lawyers couldn't provide. The upshot is that the average worked rate charged was up by 5.2%.
Judging by the most recent partner moves, demand is continuing to shift since June. Along with bankruptcy hires, the beginning of the month saw lots of deal makers on the move. This week the litigators are back.
Here are some of the most notable additions and exits since the last Career Tracker:
Armstrong Teasdale has added three attorneys in Philadelphia and Denver. Miriam Straus joins as of counsel and Christopher Lynett as an associate in the firm's litigation practice, and Carla Baumel joins as an associate in its intellectual property practice.
Three veteran litigators have banded together to create a new boutique law firm in Houston, Cadwell Clonts & Reeder, which will focus on complex commercial disputes, intellectual property matters and corporate transactions. Kevin Cadwell was previously a partner at Baker Botts. David Clonts and Michael Reeder were partner and counsel, respectively, at Akin Gump Strauss Hauer & Feld.
Karin Portlock, former assistant U.S. attorney in the Southern District of New York, has joined Gibson, Dunn & Crutcher as of counsel. Portlock will be based in the firm's New York office and will serve as a member of its white-collar defense and investigations, crisis management and litigation practice groups.
Greenberg Traurig has added Stephanie Quincy and Lindsay Fiore as shareholders in its labor and employment practice in Phoenix. They both join from Quarles & Brady.
Brandon Wilson joins Honigman's litigation department as a partner in Michigan from Howard and Howard. Wilson focuses on automotive, real estate, construction, business, and class action litigation.
Lowenstein Sandler has picked up Meredith Beuchaw as a partner in its technology group. Beuchaw is an M&A lawyer for venture-backed growth companies and startups who joins from Cooley.
White & Case has added Matthew Devine as a partner in Chicago. Devine, who was previously at Jenner & Block, joins the firm's global commercial litigation practice.
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