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Big changes are in the air at Irell & Manella.
Yesterday, the Biglaw firm announced to all attorneys that the firm was pursuing an “alternative business model.” According to the email sent by partner Jonathan Kagan, they are “focus[ing] on areas where we have a clearly demonstrated record of success and excellence when compared to other firms.”
The email goes on to spell out exactly what that means:
“We therefore plan to focus our future growth and investments in our litigation practice areas, particularly IP and complex business litigation. Although we will continue to have lawyers in other practice areas at the Firm (particularly in certain transactional areas), we do not anticipate making significant investments in non-core practice areas in the near future.”
As you might imagine, not everyone — particularly those in “non-core” areas — is excited about the change. And Kagan’s email reflects this, as he points to several partners, Mike Kaplan, Greg Klein, and Harry Mittleman, who have departed or are on their way out. And, as the new reality sets in, more exits are anticipated.
Kagan’s email goes on to assure the attorneys that the firm is in “fantastic financial health,” which is always nice to hear, but especially so after high-profile departures.
Best of luck to Irell with its new strategic vision. And here’s hoping all those attorneys who are no longer aligned with the core focus of the firm find a welcoming lateral market.
Read the full email from Kagan below.
Kathryn Rubino is a Senior Editor at Above the Law, and host of The Jabot podcast. AtL tipsters are the best, so please connect with her. Feel free to email her with any tips, questions, or comments and follow her on Twitter (@Kathryn1).