Wake Up Call: Goodwin Partner Profits Fall on Record Revenues

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

• Goodwin Procter’s gross revenues rose 12.1% to a record $2.21 billion in 2022, the firm’s first time over the $2 billion mark, but its average profits per equity partner shrank 6.4% to $3.46 million, according to a report based on preliminary data. Goodwin’s headcount rose over 24% for the year. It announced layoffs in January this year. (American Lawyer)
• Latham & Watkins said its corporate team led by partners Charles Ruck and Greg Rodgers represented Amgen Inc. on its $24 billion bond offering to fund the biotech giant’s $27.8 billion acquisition of Dublin-based Horizon Therapeutics plc. (LW.com)
• Dentons LLP’s fight with former partner Jinshu “John” Zhang over tens of millions of dollars in contingency fees could spark a conflict between New York and California courts. (Reuters)

Lawyers, Law Firms

• Baltimore-based Miles & Stockbridge posted 2022 gross revenues down 4.7% to 125 million, citing a slowdown in its corporate work. (American Lawyer)
• Big Anglo-Australian firm Herbert Smith Freehills said it’s closing its office in Seoul and starting a new Korea office whose managers will work from other countries. The firm said Seoul partner Mike McClure, who will move to London later this year, and partner Dana Kim, who will move to Hong Kong, will manage the new office. It said it’s making the move because it realized the work it does for its Korean public, private, energy, and financial sector clients is “exclusively international.” (Herbert Smith Freehills)
• Miami-headquartered Greenberg Traurig’s lobbying team took in an estimated $7.6 million in compensation for Florida-related work in 2022, with much of that work related to insurance and health-care companies. (Florida Politics)
• A California attorney is accused of stealing $10.2 million from a British Virgin Islands company to pay for gambling and a luxury hotel suite, as part of a loan scam. (Law & Crime) (Daily Beast)

Laterals, Moves, In-house

• McCarter & English added Federal Energy Regulatory Commission trial attorney Phil Mone as a partner in Washington in its environment and energy practice. He arrives from Van Ness Feldman. (McCarter.com)
• Nelson Mullins LLP brought in former North Carolina Superior Court judge Drew Heath as a partner in Raleigh. Heath, who since 2021 has also served as director of the North Carolina Administrative Office of the Courts, will focus his practice primarily on government relations and civil litigation. He will also be a registered lobbyist. (NelsonMullins.com)
• Troutman Pepper Hamilton Sanders picked up land use and zoning attorney Jessica Hill in Atlanta as a partner in its commercial real estate group. She arrives from Morris Manning & Martin. (Troutman.com)
• Gordon & Rees hired litigator Keith Hayasaka as a partner in Seattle in its product & general liability, commercial litigation, insurance, construction, and trucking and transportation practice groups. He arrives from Lewis Brisbois Bisgaard & Smith. (GRSM.com)
• Baker Donelson snagged Offit Kurman corporate attorney Jordan Savitz as a shareholder in its Washington and Baltimore offices. (BakerDonelson.com)
• Seward & Kissel elected partner and investment management group co-head Patricia A. Poglinco to the firm’s management committee. (SewKis.com)
• Alternative dispute resolution services provider JAMS hired former Big Law construction litigation partner Leslie King O’Neal to its Miami, Florida, panel as an arbitrator, meditator, and neutral. She arrives after close to 16 years in-house at construction firm Brasfield & Gorrie. (JAMSADR.com)