Leaders from Venable, Latham & Watkins, Morgan Stanley, and Capital One talk about the state of the legal industry. This episode was recorded live at the Big Law Business Summit, and moderated by Bloomberg Businessweek’s Megan Murphy. Topics include talent management, how corporations choose law firms, automation in the legal industry, pressure on the law firm economic model, whether law firms are doing enough to achieve diversity, the millennial generation, and how the business of law is changing during the Trump administration.

Guests include:

Matthew Cooper, Executive Vice President, Head of Legal, Capital One Financial

Eric Grossman, Chief Legal Officer and Managing Director, Morgan Stanley

Stuart Ingis, Chairman, Venable LLP

Jamie Wine, Partner and Global Litigation and Trial Chair, Latham & Watkins

Big Law Business

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Sponsored by

DMX

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Bloomberg Law

www.bna.com/bloomberglaw?promocode=BLBBLAW

U.S. District Judge Jed Rakoff thinks increased competition has had an impact on law firms, for the worse.

“It is to the point that the professional ethics and the professional responsibilities of the firms have been affected,” Rakoff told Big Law Business, explaining that firms, in order to keep clients, are willing to endorse risky behavior.

In the podcast interview with Big Law Business’s Casey Sullivan, Rakoff laid out his concerns about how attorneys in his courtroom have placated clients, to the detriment of their legal judgment, in order to retain business.

This, he said, has resulted in over aggressive legal tactics that undermine the credibility of lawyers.

In the podcast, Rakoff speaks about the business of law, his career path, his involvement in an influential insider trading ruling, as well as his biggest pet peeves of lawyers who appear before him in court.

Interview begins at 4:16.

Big Law Business

https://bol.bna.com/

Subscribe to the Big Law Business podcast on iTunes

itunes.apple.com/us/podcast/big-l…d1074067483?mt=2

Sponsored by

DMX

http://www.epiqsystems.com/DMX

Bloomberg Law

www.bna.com/bloomberglaw?promocode=BLBBLAW

For the latest episode of the Big Law Business podcast, Josh Block and Casey Sullivan let the leaders of two top grossing law firms take over. This is the full-length audio version of our "Chairs on Chairs" series featuring Kim Koopersmith, of Akin Gump, and Steve Immelt, of Hogan Lovells, interviewing each other about the business of law.

Topics include: the Trump administration and travel ban, Brexit’s impact on the industry, diversity and inclusion at large law firms, running a large law firm, crisis management, growing revenue in a time of flat demand for legal services, taking over for Bruce McLean at Akin Gump and Warren Gorrell at Hogan Lovells, law firm culture, millennial lawyers, flexible work schedules, legal technology, cybersecurity, leisure time for law firm leaders.

Big Law Business:

https://bol.bna.com/

Sponsored by Bloomberg Law:

www.bna.com/bloomberglaw?promocode=BLBBLAW

Subscribe to the Big Law Business podcast on iTunes:

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Jones Day's connection to Donald Trump has landed at least 14 of their lawyers positions in the administration. But the law firm stood out long before the Trump relationship. Jones Day has the most total lawyers working in the United States, according to the most recent ranking. In 2015, they hired 10 U.S. Supreme Court law clerks. And, perhaps most unique by today's standards, they have a management structure that gives almost all decision making authority to their managing partner, including decisions about compensation and who will be his successor.

In this episode of the Big Law Business podcast, Josh Block does a deep dive on Jones Day with Bloomberg Businessweek's Paul Barrett, and Above the Law's David Lat.

Big Law Business:

https://bol.bna.com/

Sponsored by Bloomberg Law:

www.bna.com/bloomberglaw?promocode=BLBBLAW

Subscribe to the Big Law Business podcast on iTunes:

itunes.apple.com/us/podcast/big-l…d1074067483?mt=2

It’s not often that lawyers from Big Law firms are arrested by the FBI, in disguise, accused of selling a whistleblower complaint. When our colleagues at Bloomberg News broke the news early yesterday, we knew we had a story that was about to blow-up in legal circles and beyond. On a day that shut down cities across the Northeast, Casey Sullivan trudged into our NYC studio to record this podcast and learn more about the arrest from Jef Feeley, one of the trio of reporters who broke the story.

Big Law Business:

BigLawBusiness.com

Sponsored by Bloomberg Law:

www.bna.com/bloomberglaw?promocode=BLBBLAW

Subscribe to the Big Law Business podcast on iTunes:

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Is another megafirm about to get even bigger?

Yesterday, Norton Rose Fulbright and New York-based Chadbourne & Parke both confirmed that they were in discussions to merge. The combined law firm would have nearly 4,000 lawyers and about $2 billion in revenue. Josh Block and Casey Sullivan discuss the likely first candidate for biggest law firm merger of 2017.

Sponsored by Bloomberg Law:

www.bna.com/bloomberglaw?promocode=BLBBLAW

Subscribe to the Big Law Business podcast on iTunes:

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Alfred Dewayne Brown was sent to death row in 2005 for a crime he didn’t commit. The dedication of a Big Law associate, Brian Stolarz, to his pro bono representation of Brown helped exonerate him. The price Stolarz paid for the hours he put into the case cost him bonuses and the path to partnership. Stolarz, who wrote a book about his experience, Grace and Justice on Death Row, joins Josh Block and Casey Sullivan on the Big Law Business podcast.

Sponsored by Bloomberg Law:

www.bna.com/bloomberglaw?promocode=BLBBLAW

Subscribe to the Big Law Business podcast on iTunes:

itunes.apple.com/us/podcast/big-l…d1074067483?mt=2

Lawyer Who Helped Save Death Row Inmate Didn’t Make Partner - By Gabe Friedman

https://bol.bna.com/lawyer-who-helped-save-death-row-inmate-didnt-make-partner/

Grace and Justice on Death Row: The Race against Time and Texas to Free an Innocent Man - By Brian W. Stolarz

http://skyhorsepublishing.com/titles/11892-9781510715103-grace-and-justice-on-death-row

Arnold & Porter and Kaye Scholer, after months of talks, announced today that they will merge effective January 1, 2017. The new firm will have roughly 1,000 lawyers and will be called Arnold & Porter Kaye Scholer. Josh Block and Casey Sullivan discuss the largest law firm merger (so far) of 2016.

Sponsored by Bloomberg Law:

www.bna.com/bloomberglaw?promocode=BLBBLAW

Subscribe to the Big Law Business podcast on iTunes:

itunes.apple.com/us/podcast/big-l…d1074067483?mt=2

Former United States Solicitors General Paul Clement and Donald Verrilli are among the “top tier” of Supreme Court advocates, according to Greg Stohr who covers the Court for Bloomberg News. So, it’s big news that both announced in September that they are joining Big Law firms. In Clement’s case, he’s taking his whole boutique appellate firm, Bancroft, with him to Kirkland & Ellis. While, in Verrilli’s case, his return to Big Law was not quite as unexpected. The firm he joined however, Munger Tolles & Olson, was a surprise. Many observers expected Verrilli to rejoin his former firm, Jenner & Block. Stohr speaks with the hosts of the Big Law Business podcast, Josh Block and Casey Sullivan, about Clement, Verrilli, and what to expect as the new Supreme Court term begins.

Sponsored by Bloomberg Law:

www.bna.com/bloomberglaw?promocode=BLBBLAW

Subscribe to the Big Law Business podcast on iTunes:

itunes.apple.com/us/podcast/big-l…d1074067483?mt=2

It’s cliche to say, in today’s legal market, that only law firms that do “bet the ranch” litigation can charge top rates. Gibson Dunn isn’t just one of those “bet the ranch” type of firms. As Bloomberg Businessweek’s Paul Barrett notes, the firm has been called on by clients to replace both Jones Day and Skadden Arps: “when things kind of go bad and you need to be rescued, you call on Gibson Dunn to come up with some type of innovative strategy to get you out of the soup.”

Once again we’re taking a full episode of the Big Law Business podcast to do a deep dive on a single law firm, Gibson Dunn. A firm that consistently ranks among the top in the U.S. in gross revenue, profits per partner, and revenue per lawyer. Their clients include Chevron, Apple, and even New Jersey Governor, Chris Christie. Paul Barrett, our guest for this episode, knows the firm well, having written extensively about Chevron’s legal battles in Ecuador in the pages of Businessweek and Bloomberg.com, and his book, Law of the Jungle.

Sponsored by Bloomberg Law

www.bna.com/bloomberglaw?promocode=BLBBLAW

Subscribe to the Big Law Business podcast on iTunes.

itunes.apple.com/us/podcast/big-l…d1074067483?mt=2

Discussed in this episode:

What Do Chevron, Apple, and Chris Christie Have in Common?

https://bol.bna.com/what-do-chevron-apple-and-chris-christie-have-in-common/

What’s Culture? No Bonuses to High-Ranking Gibson Dunn Partners

https://bol.bna.com/whats-culture-no-bonuses-to-high-ranking-partners-at-gibson-dunn/

Chevron’s Pollution Victory Opens Door for Companies to Shirk Foreign Verdicts

https://bol.bna.com/chevrons-pollution-victory-opens-door-for-companies-to-shirk-foreign-verdicts/

How Apple Will Fight U.S. Demand for Access to Attacker’s iPhone

https://bol.bna.com/how-apple-will-fight-u-s-demand-for-access-to-attackers-iphone/

Ted Olson Tapped in Legal Battle Against LGBT Law In North Carolina

https://bol.bna.com/ted-olson-tapped-in-legal-battle-against-lgbt-law-in-north-carolina/

K&L Gates and ‘The Shark Tank of Law Firms’

https://bol.bna.com/podcast-kl-gates-and-the-shark-tank-of-law-firms/