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Wake Up Call: Talent War Moves Gibson Dunn to Revamp Partner Pay

June 29, 2022, 12:22 PM

In today’s column, a federal judge ordered Erika Jayne to hand over her million dollar earrings to the bankruptcy trustee for fallen firm Girardi Keese; a new survey of law school graduates’ job satisfaction suggests working from home full time is getting old; crypto lending platform Celsius Network is reportedly resisting its lawyers’ advice to file for Chapter 11 bankruptcy protection.

  • Leading off, Gibson Dunn & Crutcher revised its partner compensation system this year to make it possible for big performers to earn more in an effort to boost recruitment and retention of talent. The firm has nevertheless lost several high profile partners this year, a report says. (American Lawyer)
  • Law school class of 2018 graduates working only from home reported lower overall job satisfaction than graduates working either full-time in the office or on a hybrid schedule, according to a new joint survey report from National Association for Law Placement and the NALP foundation. That’s a reversal from last year’s survey of 2017 graduates’ job satisfaction. (NALPFoundation.org)
  • As part of the $100 million enforcement action the Securities and Exchange Commission announced against Ernst & Young yesterday in a CPA exam cheating case, the agency is demanding that the firm investigate its own lawyers and managers. The SEC accused EY of misleading regulators about an internal report of cheating on required ethics exams. It suggested the firm’s lawyers and other executives knew about the report but did not reveal it. (WSJ)

Lawyers, Law Firms

  • Struggling crypto lending platform Celsius Network, which hired Akin Gump restructuring attorneys for advice earlier in June, is reportedly now resisting its lawyers’ recommendation to file for Chapter 11 bankruptcy. (Coinspeaker)
  • A federal judge ordered Real Housewives of Beverly Hills star Erika Jayne to turn over her million dollar earrings to the bankruptcy trustee in the case involving her estranged husband’s fallen law firm Girardi Keese. (RadarOnline)
  • A former Jones Day partner has been accused of contempt of court for allegedly instructing his client to “burn” its secure messaging system to avoid handing over evidence to supermarket group Ocado, a UK court heard Tuesday. (Financial Times)

Laterals, Moves, In-house

  • Hogan Lovells appointed New York litigation, arbitration, and employment partner Phoebe A. Wilkinson to the firm’s new role of global managing partner for growth; Norton Rose Fulbright named corporate partner Saskia Blokland as its new office managing partner in Amsterdam, effective July 1; Norton Rose appointed longtime London-based tax partner Dominic Stuttaford as global head of tax; Mayer Brown picked up Reed Smith corporate and securities attorney Evan Kelson as a partner in its banking and finance practice in New York; Goodwin added Paul Hastings private equity attorney Stan Kalminsky as a partner in Santa Monica and San Francisco. (GoodwinLaw.com)
  • Holland & Knight hired energy regulation attorney Paul Forshay as a partner in Washington in its public policy & regulation group. He arrives after close to 32 years at Eversheds Sutherland, where recently he co-chaired the liquefied natural gas/natural gas regulatory practice; Cole Schotz brought in Cadwalader real estate attorney Emanuel Tsourounis II as a member in New York; Stoel Rives hired licensed professional land surveyor Jonathon Roder in Anchorage to assist attorneys in its environmental and natural resources practice with due diligence reports; Blank Rome added consumer finance attorney Robert Dawson in Cincinnati. (BlankRome.com)
  • Vienna, Virginia-based Science Applications International Corp. brought back a former in-house leader at the company, Hilary Hageman, as executive vice president, general counsel, and corporate secretary. Hageman, who was a US Defense Department deputy GC, is a former top lawyer at public transportation and defense firm Cubic Corporation; alternative dispute resolution services provider JAMS said attorney, arbitrator and mediator Lisa D. Love joined its New York panel. (JAMSadr.com)

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