Bloomberg Law
Business & Practice
Jan. 4, 2023, 1:15 PM

Wake Up Call: Law Firm Mergers Apt to Rise in 2023, Report Says

By Rick Mitchell

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

  • Law firm mergers were up last year and likely to continue to increase in 2023, according to a new report from Fairfax Associates. The report said the 46 completed law firm mergers it counted for 2022 were up by five from 2021’s tally but still below their 10-year average of 55. The report noted several significant midsize mergers in the US in 2022, but fewer cross-border tie-ups than in previous years. (Fairfax Associates)
  • Big Texas corporate law firms say a surge in complex commercial litigation work after courts reopened post-pandemic is making up for a drop in deal work. They expect their 2022 revenues and profits to hit record highs. (Houston Chronicle)
  • UK law firm leaders said restructuring work is up but otherwise gave a gloomy outlook for 2023. (Law.com International)
  • Polsinelli hired a group of seven international trade attorneys for its Washington office, led by former commissioner and two-time chair of the US International Trade Commission Deanna Tanner Okun. She’ll lead the firm’s new ITC Section 337 litigation and trade remedies practice. She’s joined by senior partner Louis Mastriani, and shareholders Daniel Smith, Lauren Peterson, and Lydia Pardini. They all arrive from AMS Trade LLP which recently closed. (Polsinelli)

Lawyers, Law Firms

  • Mintz PC grabbed longtime Milbank capital markets partner James Ball for its plans to open an office in Miami’s hot market, possibly by this summer. (American Lawyer)
  • The governor of the US Virgin Islands fired the attorney general who pursued litigation against disgraced financier Jeffrey Epstein, including a case that resulted in a $105 million settlement. (Associated Press)
  • Electric vehicle startup Canoo is suing several former executives at the company, including its former deputy general counsel Michael Fielkow, of stealing its trade secrets and poaching employees to start a competing company, Harbinger Motors. (Corporate Counsel)

Laterals, Moves, In-house

  • Former House General Counsel Douglas Letter, a 40-year Justice Department veteran, joined public safety nonprofit Brady Campaign to Prevent Gun Violence as chief legal officer. (BradyUnited.org)
  • Goodwin Procter added former Simpson Thacher investment funds partner Audra Cohen as a partner in New York. (GoodwinLaw.com)
  • White & Case brought in intellectual property litigator Anna Naydonov as a partner in Washington. She arrives from IP firm Finnegan Henderson, where she was partner and co-led its litigation section and blockchain and digital assets group. (WhiteCase.com)
  • Winston & Strawn added Addleshaw Goddard restructuring lawyer Paul Fleming as a partner and head of its restructuring & insolvency practice in London. He was earlier at Dechert and spent close to 21 years at DLA Piper. (Winston.com)
  • Management-side worklaw firm Littler Mendelson added two litigators in San Francisco. Shareholder Michael Guasco joined from Buty & Curliano, while of counsel Jennifer Wai-Shing Maguire was previously at Roxborough, Pomerance, Nye & Adreani. (Littler.com)
  • London-based Kirkland & Ellis private equity partner Michael Steele is joining California-headquartered real estate fund GLP Capital Partners, a Kirkland client, as chief legal officer, according to reports.(Law.com International) (Financial News)

Promotions Effective Jan. 1

To contact the correspondent on this story: Rick Mitchell in Paris at rMitchell@correspondent.bloomberglaw.com

To contact the editors responsible for this story: Chris Opfer in New York at copfer@bloomberglaw.com; Darren Bowman at dbowman@bloomberglaw.com

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