Wake Up Call: Latham’s Millions in Pay Ramps Up Partner Pressure

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

• After taking over Latham & Watkins in 2019, Rich Trobman shifted the firm’s compensation structure to reward top performers with multimillion-dollar payouts, increasing competition among partners for credit on deals. The move has bolstered profitability and helped retain talent against rivals, but it also has fueled internal tension in the firm, made partner progression harder, and led to key departures, particularly in Europe. (FN London)
• AMC Entertainment announced that general counsel Kevin Connor will retire on March 13. Connor oversaw the company’s 2006 merger with Loews Cineplex Entertainment, its 2013initial public offering, and key acquisitions. Edwin Gladbach, currently vice president for legal, has been named interim general counsel. (ET Legal World)
• Elizabeth Barbour began studying law at 54 while raising a school-age daughter. Despite feeling isolated in law school, she pushed through, passing the bar on her second attempt. At 60, she joined the Legal Aid Society in Roanoke, Va., focusing on domestic violence cases. Previously a hand model and real-estate developer, she now sees law as her true calling. (The Guardian)

Laterals, Moves, In-House

• Michael Podolny joined Sidley Austin as a partner in its emerging companies and venture capital practice in Palo Alto and San Francisco. He joins from Latham & Watkins.
• David Keller, Elizabeth Izquierdo, and Maria Priovolos-Gonzalez joined Akerman as partners. They join from Keller Landsberg PA.
• Amy Jeffress joined Hecker Fink as co-lead of its Washington office. She joins from Arnold & Porter.
• Sarah Carlson joined Sidley Austin as a partner in its litigation practice in San Diego. She joins from Dentons.
• Heather Burke joined Faegre Drinker as a partner in its litigation practice in San Francisco.
• Jessica Radke will join Linklaters as senior counsel in its litigation, arbitration, and investigations practice and antitrust and foreign investment group in London. She joins from the UK Competition and Markets Authority.
• Sara Arrow and Julia Long joined Linklaters as counsel alongside five associates. They join from Patterson Belknap.