Latham & Watkins

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"L&W" redirects here. For the British publishing company, see Lawrence and Wishart.
Latham & Watkins
Limited liability partnership
Industry Legal services
Founded 1934
Headquarters Los Angeles, California
Key people
William Voge, Chairman and Managing Partner
Products Full legal services
Revenue Increase US$ 2.6 billion (2014)[1]
Number of employees
Approximately 2,000 Attorneys[2]
Website www.lw.com

Latham & Watkins LLP, founded in 1934, is the world’s highest-grossing law firm, with US$2.6 billion in annual revenue, and is widely considered to be one of the most prestigious and profitable law firms in the world.[3][4]

Latham currently employs approximately 2,000 attorneys in the United States, Europe, the Middle East and Asia.[5] The firm was founded in Los Angeles and has extensive Californian roots, with Latham's largest office now in New York City. The firm claims it is the only fully integrated multinational law firm with no one headquarters.[6] In 2007, Latham & Watkins became the first American law firm to attain more than $2 billion in yearly revenue, and in 2015, the firm surpassed the likes of DLA Piper, Baker & McKenzie and Skadden to become the highest-grossing law firm in the world for the first time.[7][8] The firm has historically been one of the highest-paying law firms in the world.[9]

History[edit]

Dana Latham and Paul Watkins founded Latham & Watkins in January 1934 in Los Angeles, California. Latham's practice focused on US state and federal tax law and he eventually served as Commissioner of the U.S. Internal Revenue Service under President Dwight Eisenhower. Watkins' practise focused primarily on labor. Although Latham & Watkins began with a focus on labor and tax law, the firm has grown into an international, full-service law practice with highly regarded practices in transactional, disputes and regulatory areas.[10]

When Latham & Watkins was founded, the firm consisted of three attorneys. The firm grew slowly, and, in 1960, there were 19 attorneys. The firm grew significantly in the 1960s, increasing the attorney headcount to 46 in 1970.[10]

In the late 1960s and early 1970s, Latham & Watkins utilized a system of internal committees to run the firm and allowed associates to participate in the majority of these committees. The Associates Committee was founded in 1971 and governs the career development of the firm's associates. The Associates Committee includes both associates and partners. Through this committee, Latham & Watkins includes associates in the promotion process. Associates are also involved in the Diversity Committee, Recruiting Committee, Pro Bono Committee and TACE (Training and Career Enhancement) Committee.[10]

Jack Walker became the firm's managing partner in 1988 and set out to grow the firm. Latham & Watkins expanded into San Francisco, London, Moscow, Hong Kong and New Jersey. Robert Dell took over as managing partner in 1994. Dell's tenure has been marked by the firm's international growth.[10] Dell retired at the end of 2014, and was succeeded by William Voge, a long time project finance partner at the firm.

Political contributions[edit]

According to the Center for Responsive Politics, Latham & Watkins was one of the top law firms contributing to federal candidates during the 2012 election cycle, donating $1.24 million, 71% to Democrats.[11] By comparison, during that same period Akin Gump Strauss Hauer & Feld donated $2.56 million, 66% to Democrats,[11] while oil conglomerate ExxonMobil donated $2.66 million, 88% to Republicans.[12] Since 1990, Latham & Watkins contributed $6.31 million to federal campaigns.[13]

Reputation and Compensation[edit]

Latham was ranked as the #1 firm in the Am Law 100 rankings for 2015, and received 31 top ten rankings across a range of corporate and finance categories in The American Lawyer's 2015 rankings.[14] The results include four #1 rankings in the areas of high-yield debt, IPOs and equity investments, with strong results in other practices, including M&A, project finance, bankruptcy and REITs.[15] Dubbed an "A-List All-Star" by The American Lawyer, the firm is one of three firms to appear on the A-List each year since its inception in 2003.[16] The A-List recognizes "the most well-rounded" law firms based on financial performance and firm culture. Latham garnered the most Tier 1 rankings in the US market, across its transactional, disputes and regulatory practices in The Legal 500 US 2014.[17] The Legal 500 US rankings are based on work achievements, depth and experience of the practice, and client and peer feedback.[18] According to Vault, Latham is within the top ten most prestigious law firms in the country.[19]

Latham is one of the highest paying law firms in the world. Profits per partner are US$2.9 Million.[20] First year associates are paid a salary of US$180,000 with merit based bonuses available. Summer associates are paid the same salary as first years, although it is prorated over ten weeks (amounting to US$3,470 per week).[21]

Notable clients and cases[edit]

Notable attorneys[edit]

Offices[edit]

Latham was originally founded in Los Angeles, though its New York office is its largest today. The executive committee members are spread around the world, with the firm's current chairman being based in San Francisco. The incoming chair-elect is based in London. No Latham office reports or is subordinate to another as it is the only global law firm with no headquarters. Latham currently has over 2,000 attorneys throughout its offices located around the world.[32]

Notable alumni[edit]

References[edit]

  1. ^ The American Lawyer Firm Profiles: Latham & Watkins. Americanlawyer.com (2012-01-01). Retrieved on 2013-12-23.
  2. ^ ILRG Largest 250 Law Firms in the US. Ilrg.com. Retrieved on 2013-08-15.
  3. ^ http://abovethelaw.com/2015/04/the-2015-am-law-100-revenues-rising-profits-popping-and-a-new-1-firm/
  4. ^ http://app.ft.com/cms/s/6bc12a1c-137e-11e5-aa7f-00144feabdc0.html
  5. ^ ILRG Listing of the 250 largest law firms
  6. ^ lw.com [1].
  7. ^ Ashby Jones, "Latham & Watkins Breaks $2 Billion Revenue Barrier", Wall Street Journal, February 11, 2008.
  8. ^ Jones, Ashby (27 April 2015). "Latham & Watkins Tops the AmLaw 100 For the First Time". WSJ Law Blog. Retrieved 9 September 2015. 
  9. ^ http://abovethelaw.com/2015/04/the-2015-am-law-100-revenues-rising-profits-popping-and-a-new-1-firm/
  10. ^ a b c d Latham.com, Retrieved May 19, 2010.
  11. ^ a b "Lawyers & Lobbyists: Top Contributors to Federal Candidates, Parties, and Outside Groups". OpenSecrets.org. Center for Responsive Politics. 
  12. ^ "Energy/Natural Resources: Top Contributors to Federal Candidates, Parties, and Outside Groups". OpenSecrets.org. Center for Responsive Politics. Retrieved 9 June 2016. 
  13. ^ "Organizations: Latham & Watkins". OpenSecrets.org. Center for Responsive Politics. Retrieved 9 June 2016. 
  14. ^ http://abovethelaw.com/2015/04/the-2015-am-law-100-revenues-rising-profits-popping-and-a-new-1-firm/
  15. ^ https://www.lw.com/awards/legal-500-us-2014
  16. ^ http://www.vault.com/company-profiles/law/latham-watkins-llp/company-overview.aspx
  17. ^ http://www.vault.com/company-profiles/law/latham-watkins-llp/company-overview.aspx
  18. ^ https://www.lw.com/awards/legal-500-us-2014
  19. ^ "Vault.com|Vault Law 100". Retrieved 2016-07-25. 
  20. ^ "The Am Law 100: Growth Slows at Latham & Watkins". Retrieved 2016-07-25. 
  21. ^ "Latham & Watkins LLP|Company Profile|Vault.com". Retrieved 2016-07-25. 
  22. ^ "$4.84 billion acquisition". International Law Office. September 13, 2004. Retrieved October 18, 2009. 
  23. ^ "Rise of Latham & Watkins" (PDF). Vol. 7, No. 1. (M&A Journal). March 31, 2007. Retrieved October 18, 2009. 
  24. ^ "India Awards". Asia Law. December 2008. Retrieved October 18, 2009. 
  25. ^ Reckard, Scott (November 8, 2006). "Scientology groups to pay back $3.5 million". Los Angeles Times. Retrieved April 24, 2008. 
  26. ^ Gray, Tyler (2008-03-31). "Anonymous on Trial? Scientology Steps Up Skirmish". Radar. Retrieved 2008-12-16. 
  27. ^ Lat, David (2008-04-01). "Latham & Watkins to Free Stress Tests?". Above the Law. Archived from the original on 2008-04-05. Retrieved 2008-12-16. 
  28. ^ Lee, Lisa; David Marcus; Amy Wu (2008-10-10). "Latham gilds Lilly's ImClone offer". The Deal. Retrieved 2009-10-18. 
  29. ^ "Yahoo-Maktoob.com acquisition". Mideast Legal Business Online. 2009-09-03. Retrieved 2009-10-17. 
  30. ^ Ingram, David (October 24, 2011). "A big gift for Bybee: Latham & Watkins gives judge $3.2 million worth of legal aid". The National Law Journal. 
  31. ^ DHS.gov
  32. ^ "Latham Around the World". Retrieved 2014-06-15. 

External links[edit]