Wake Up Call: Law Firms Are On the Hunt for Top M&A Talent

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

• Big Law firms are aggressively hiring mergers and acquisitions and private equity talent in anticipation of a dealmaking rebound. Latham & Watkins recruited Ross Allardice from White & Case to boost its London practice, while Simpson Thacher named James Howe and Geoff Bailhache as new European M&A co-heads. Cooley also expanded its London team with tech-focused partner Jonathan Cohen from Ashurst. (FN London)
• Philadelphia’s skyline and public transit are plastered with personal injury attorney ads, a trend fueled by aggressive legal marketing since the 1970s when a Supreme Court ruling allowed lawyer advertising. Pioneers such as John Morgan of Morgan & Morgan showed that saturation campaigns could build billion-dollar firms, inspiring others including James Helm of TopDog. Despite the heavy advertising, personal injury filings in Philadelphia have declined in recent years, suggesting ads don’t always translate into more lawsuits. (The Philadelphia Inquirer)
• A funding shortfall is threatening access to legal representation for federal defendants in North Dakota. With no money left to pay private defense attorneys—who handle about 40% of cases when public defenders face conflicts—many experienced lawyers are withdrawing from service. The program needs $116 million to last until Oct. 1, but the financial uncertainty has already led to attorney resignations and delayed appointments. (Daily Montanan)

Laterals, Moves, In-House

• Ross Allardice joined Latham & Watkins as a partner in its M&A and private equity practice in London. He joins from White & Case.
• Carolyn Austin rejoined ArentFox Schiff as a partner in its real estate practice in New York. She joins from Greenspoon Marder.
• Richmond Flowers joined Squire Patton Boggs as a principal in its global real estate practice in Tampa, Fla. He joins from Burr & Forman.