Major law firms in Washington, D.C. like Baker Botts, K&L Gates, Sidley Austin, and Thompson Hine are in a race to bolster their litigation and dispute teams, as client demand in such practices is helping to balance out slowdowns in transactional work. This wave of recruitment is a response to a robust Q2 for countercyclical legal tasks, such as litigation, bankruptcy, and labor and employment practices.
According to the latest Law Firm Financial Index, demand has witnessed a 2.8% growth at Am Law 100 firms, a 4.1% increase at Second Hundred Firms, and a notable rise of 5.3% at midsize firms. This demand for countercyclical practices is expected to expand, signaling a prosperous period for litigation and dispute practices.
Among the reported hires, a special mention goes to a four-person international disputes team from Sidley heading to Baker Botts. This team includes two experts who specialize in Latin American disputes. Sidley Austin, on the other hand, managed to secure a former assistant attorney general from the Department of Justice’s Criminal Division, an indication of the intense competition in these areas.
These series of hires shine a light on the current industry trends, with firms adapting their strategies to meet the increasing demand for countercyclical practices. This demand is largely attributed to the challenging economic periods where businesses are more likely to dispute contracts, sue for damages or potentially face bankruptcy – thereby increasing the need for legal services in these areas.