Wake Up Call: First-Year Associate Class Size Is Up From 2023

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

• First-year associate classes in 2024 are up 14% with an average class size of 94, compared with 83 in 2023, according to survey responses from roughly half of Am Law 50 firms. Paul Weiss reported the largest increase at 48%, hiring 182 first-years this year compared with 123 in 2023. (Law.com)
• Morgan Lewis & Bockius is no longer the largest law firm in Philadelphia, recently surpassed by Cozen O’Connor, as the firm-wide headcount dropped to 1,914 this year from 2,027 in 2023. Morgan Lewis leaders say the dip comes from a spate of recent retirements and cite the firm’s 91% lateral retention rate. (Philadelphia Business Journal)
• The UK’s regulator of regulators launched an enforcement action against the Solicitor’s Regulation Authority, saying the legal regulator didn’t take enough steps to prevent the collapse of the law firm Axiom Ince after £60 million in client money disappeared. The review, conducted by law firm Carson McDowell on behalf of the Legal Services Board, said the SRA “did not act adequately, effectively and efficiently.” (MSN.com)

Laterals, Moves, In-House

• Jera Bradshaw joined Greenberg Traurig as a shareholder in its financial regulatory and compliance practice and banking and financial services practice.
• H. Thomas Felix, III joined Morrison Foerster as a partner in its capital markets group in San Diego.
• Patent trial lawyer Jim Brogan joined Steptoe as a partner in its intellectual property practice in San Francisco. He joins from King & Spalding.
• Kevin Baltz joined Baker Donelson as a shareholder in its commercial litigation group in Nashville. He joins from Butler Snow.
• Melissa Vandewater joined Jones Day as a partner in its real estate practice in Chicago.
• Solicitor Devon Drakes joined the private client team at Andrew Jackson Solicitors LLP.
• Gary Clarke joined Polsinelli as a shareholder in its real estate practice group in Philadelphia.
• Christopher Tinen joined Snell & Wilmer as a partner in its corporate and securities practice group in San Diego. He joins from Procopio, Cory, Hargreaves & Savitch.