Wake Up Call: Clifford Chance Hikes Partner Pay Amid Competition

Welcome to Bloomberg Law’s Wake Up Call, a daily rundown of the top news for lawyers, law firms, and in-house counsel.

• Clifford Chance’s highest-paid partner earned £6.01 million in the 2023-2024 financial year, marking a 24% increase from the previous year. The rise comes as US firms continue to lure top talent in the UK. While the firm’s revenue surged 28%, its staff costs grew by £73 million, following a £95 million rise in 2023 as it expanded its workforce. (Law.com)
• Former Supreme Court Justice Stephen Breyer will kick off 2025 by hearing cases for the first time in over two years as a visiting judge on the US Court of Appeals for the First Circuit. The cases he will hear include a challenge to limits on cruise ship passenger visits and a former Haitian mayor’s appeal of a jury verdict requiring him to pay $15.5 million over allegations he led a campaign to kill and torture his political opponents. (Reuters)
• Big Law saw significant leadership changes in 2024, which could signal even more to come in 2025. Firms especially showed increasing interest in prioritizing leaders with experience in managing remote teams, embracing new technologies and social media, and navigating diverse workforces and client populations. (Law.com)

Laterals, Moves, In-House

• Michael Sykes joined White and Case as a partner in its global tax practice and global energy industry group in Washington.
• Nancy Norton joined Banzai International as chief legal officer. She joins from Novartis.
• Doug Baldridge rejoined Venable as a partner in its commercial litigation practice in Washington. He joins from Taylor Swift’s 13 Management.
• Jennifer Haynes was promoted to senior vice president, general counsel, and corporate secretary at the Federal Reserve Bank of St. Louis.
• Craig Panholzer and Kasi Gifford joined Cooper Levenson as partners in Fort Lauderdale, Fla. and Atlantic City, N.J., respectively.
• Hope Katz was promoted to executive vice president, general counsel, and corporate secretary at Huron Consulting Group.
• Richard Catalano joined Honigman as a partner in its transactions and counseling practice group in Chicago. He joins from Ballard Spahr.