A pair of former Justice Department lawyers have left Allen & Overy to start a boutique white collar criminal defense firm.
Billy Jacobson and Jonathan Lopez will continue to focus on fraud, anti-money laundering, and other cases at their new firm, Jacobson Lopez.
After decades of experience—including as partners at A&O and Orrick—they said it was time to leave the bureaucracy of Big Law.
“We can just do this on our own and chart our own destiny and service clients in a more nimble and agile way at more reasonable prices,” Lopez said in an interview.
The firm will advise individuals and companies on white collar defense, internal investigations, and compliance.
“There are plenty of boutiques out there that do some of each, but there aren’t too many that do all of that,” Jacobson said.
The pair expect to bring with them most of their existing clients, which they declined to identify.
The firm anticipates it will hire a handful of lawyers in the coming weeks, according to Jacobson and Lopez.
“We’re not looking to grow exponentially and become a big firm, especially since we just left Big Law,” Lopez said. “We definitely want to get a bit more robust in this space.”
The new venture comes as their former firm Allen & Overy prepares for a merger with Shearman & Sterling, to create one of the world’s largest biggest firms. Lopez and Jacobson said the deal didn’t impact their decision to launch the new firm.
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