The lateral legal partner market is as active as it has ever been. Though the Dow Jones is pulsing at a feverish pace, drawing smiles and cheers from investors, the ever-conservative legal minds of the BigLaw community aren’t so easily comforted. Legal consumers are continuing to apply fee pressures; work, though still flowing steadily, is threatened by LPOs and ABSs; despite best efforts, de-equitizations and financial gymnastics are frequent-enough. While I am not ringing the alarm, the tide that once rose neck-deep has subsided, and some firms, apparently, forgot their swimming trunks. An unavoidable side effect is a highly active market for lateral law firm partners.
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