Akerman Senterfitt reviews management structure
Akerman Senterfitt has overhauled its management structure, creating a president role for the first time. The firm has nominated its chief operating shareholder to fulfill the role.
M&A partner Robert Zinn will be the firm's inaugural president and will be responsible for the day-to-day running of the firm.
The 500-lawyer firm, which has offices in Florida, New York and Washington DC, is structured as a corporation rather than a partnership.
Akerman was Florida's second-largest firm in 2006 by revenue, with its turnover topping US$210m at the end of 2005. Its client portfolio includes Arriva Pharmaceuticals and Bank of America.
Troutman Sanders bags five partners
Atlanta-headquartered Troutman Sanders has raided its Southern rivals, securing five lateral hires.
Two partners join the firm from King & Spalding's New York and Atlanta offices, while Alston & Bird, Morris Manning & Martin and Virginia-headquartered Hunton & Williams had to let go of one partner each.
Troutman opened an office in New York in 2005 after securing a whopping 91 lawyers from the Manhattan office of Texan firm Jenkens & Gilchrist. Troutman has offices in London, Hong Kong, Shanghai, Washington DC and the Southern US and, including the new hires, counts 293 partners.
New York firms boost restructuring teams
O'Melveny & Myers is the latest firm to boost its restructuring practice and has poached a team from Stroock & Stroock & Lavan to bolster its New York office. Firms have been refocusing on the practice area in anticipation of a downturn in the markets.
Stroock's co-head of financial restructuring and co-head of corporate, Michael Sage, will jointly head O'Melveny's restructuring practice with San Francisco-based partner Suzzanne Uhland. The arrival of the new team boosts O'Melveny's restructuring capability to 23 lawyers.
Earlier, New York firm Cravath Swaine & Moore launched a restructuring practice with the hire of Skadden Arps Slate Meagher & Flom partner Richard Levin. Skadden itself will take on 24 lawyers to ramp up its restructuring numbers to 120.