Firm Profiles
IN-DEPTH RESEARCH REPORT
on Latham & Watkins LLP
- - Financial Information
- - Compensation
- - Billing Rates
- - Lateral Partner Moves
- - Pro bono
- - Key Contacts
Latham & Watkins
- Designation: National
- Head Count: 2,033
- Gross Revenues: $2,226,000,000
- Revenue Per Lawyer: $1,095,000
- Profits Per Partner: $2,440,000
- Year Over Year Change: 1
Latham & Watkins always has a plan. Founded in Los Angeles by a pair of tax and labor lawyers during the Great Depression, the firm now has more than 2,000 lawyers spread across 31 offices. It was one of the first of the regional law firms to go national. Unlike many competitors, Latham solved its New York challenge early by absorbing much of the crumbling Mudge Rose firm and building the new outpost into the firm’s largest office. The firm proved nimble, surviving the death of core California clients and the colossal explosion of its largest client, Drexel Burnham; over time the Drexel diaspora became a rich source of new clients across the financial sector.
Latham has spent the last two decades becoming a global player: It’s now the tenth–largest on our Global 100 chart, building on its strengths in project finance, high–yield debt, and private equity. About 30 percent of its lawyers are outside the United States. With about 165 lawyers, London is the largest of the 19 non–U.S. offices.
Latham’s tone is famously collaborative and inclusive: Its associates committee has a say in partner promotions; proposed laterals jet from office to office on preoffer vetting missions. There is a fist inside the velvet glove, however. During the gory recessions of 1991 and 2008, Latham was among the first to fire associates. Despite the cuts, the firm consistently scores well on The American Lawyer’s annual Midlevel Associates Survey—lawyers particularly prize the firmwide training “academies.”
From the start of the Am Law 100 rankings in 1986, Latham has ranked in the top 20 on gross revenue and profits per partner. (Thirty percent of its revenue comes from litigation.) And the firm has been a fixture on The American Lawyer’s A–List, our ranking of elite firms based on revenue, pro bono effort, associate satisfaction, and lawyer diversity. The firm made a conscious decision to improve its pro bono record in the mid–1990s. As one partner put it: “Everyone here is an A student, not a C student. If [we’re] … going to do something, we need to put our trademark excellence on it.” Using goals, measurements, and encouragement from the top, the firm developed a top–flight pro bono operation. It now ranks twentieth in the nation on The American Lawyer’s annual pro bono roster. For Latham, it’s all part of executing another plan.
—Updated as of 1/1/12
Firm Rankings
| Survey | Rank | Year Over Year Change | Description |
|---|---|---|---|
| Am Law 100 | 3 | 1 | Gross revenue |
| Am Law 200 | 3 | 1 | Gross revenue |
| NLJ 250 | 5 | no change | Lawyer head count |
| The A-List | 10 | 4 | Overall excellence |
| Pro Bono Scorecard | 21 | 16 | Pro-bono commitment |
| Diversity Scorecard | 49 | 17 | Minority head count |
| Midlevel Associates Survey | 11 | 15 | Job satisfaction |
| Summer Associates Survey | 65 | 3 | Summer programs |
In the News
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Brian Baxter : The Am Law Daily : May 22, 2013
Doing their part to launch a surefire local rivalry for Major League Soccer's New Jersey-based New York Red Bulls, Akin Gump, Herrick Feinstein, Paul Hastings, and Proskauer Rose all landed roles on the $100 million deal announced this week to create the New York City Football Club. The new team, a joint venture between Major League Baseball's New York Yankees and the English Premier League's Manchester City F.C., could ultimately move into a $340 million stadium that MLS and its lawyers from Fried Frank hope to see completed by 2016.
Clifford Chance, Allen & Gledhill on $1.1 Billion Singapore IPO
Jessica Seah : The Asian Lawyer : May 21, 2013
The listing of Asian Pay Television Trust, an investment vehicle for Taiwan's largest cable television operator, is expected to be the second-largest in Singapore so far this year.
InfoPreserve Integrates dtSearch Engine, More News May 20 to 21
Michael Roach : Law Technology News : May 21, 2013
InfoPreserve Inc., a cloud-based storage provider, announced new Active Cloud Archive features using dtSearch Engine's data support and full-text search capabilities; and more legal technology industry news May 20-21.
Q&A: Counsel for Brocade, A10 Discuss Settlement Deal
Vanessa Blum : The Recorder : May 21, 2013
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Vanessa Blum : The Recorder : May 20, 2013
After getting hit with a $112 million verdict in a trade secret case, A10 brought on Irell & Manella's Morgan Chu, whose team came to terms during jury selection Monday.
Managing Relationships With Legal Project Management
Shannon Green : Corporate Counsel : May 20, 2013
Effective legal project management is very much on the minds of law departments, outside counsel, and the business units that partner with both sets of lawyers.
Kasowitz Launches in L.A. with Insurance Vet Oshinsky
Sara Randazzo : The Am Law Daily : May 20, 2013
In a year that has seen Kasowitz Benson Torres & Friedman falter in Northern California, the litigation shop is building out its insurance coverage practice with a pair of hires in Los Angeles from Jenner & Block, including Jerold Oshinsky, who has helped shape legal theories benefiting insurance policyholders.
Kirkland Reps S.F.'s Vista on $906M Buy of Software Maker
Brian Baxter : The Am Law Daily : May 20, 2013
Simpson Helps Yahoo, Tumblr Connect
Tom Huddleston Jr. : The Am Law Daily : May 20, 2013
Simpson Thacher & Bartlett is advising Yahoo in connection with its largest acquisition in a decade: the $1.1 billion cash purchase of blogging and social media platform Tumblr. Tumblr, meanwhile, is represented by Gunderson Dettmer Stough Villeneuve Franklin & Hachigian.
Three Deals Add Up to More M&A Work for Kirkland
Brian Baxter : The Am Law Daily : May 20, 2013
Kirkland & Ellis is advising longtime private equity client Vista Equity Partners on its nearly $1 billion purchase of cybersecurity software maker Websense, while fellow private equity firm Landmark Partners is relying on the firm to handle a $425 million secondary acquisition of a legacy energy portfolio owned by HM Capital. Kirkland is also advising the world's largest consulting firm, Accenture, on its $316 million buy of digital marketing startup Acquity Group.
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