Group lateral moves continue to shake up the landscape of Biglaw. Fennemore Craig is at the helm of this trend and has just secured its fourth group of lateral hires for 2024. Crucially, this latest move has left Denver-based firm Moye White facing closure. The majority of its workforce, that is approximately 50 lawyers and 30 staff members, have opted to jump ship to Fennemore. Moye White is expected to start winding down in mid-April and aims to wrap up operations entirely by the end of the year.
This transition was reported in further detail by
American Lawyer.
Moye White, after nearly 50 years in operation, has lost a significant majority of its employees to Fennemore. Fennemore CEO James Goodnow has optimistic expectations for this new acquisition, anticipating that the former Moye White employees could potentially bring in close to $30 million in additional annualized revenue. Fennemore saw an increase of 5.7% in their revenue in 2023, taking their total to $143.2 million. According to Goodnow, group lateral hires present a straightforward means of expanding a firm. They lack the complexities that are typically associated with integrating financial or technology systems.
However, not all sides of this transition are positive. Sadly, not every employee from Moye White received an offer to transition over to Fennemore. Goodnow has expressed a sincere sentiment towards the potential human cost of this transition, stating, “We certainly wish everyone, whether on the lawyer or staff side, all of them the best,”.
As Fennemore continues its expansion in the world of Biglaw, it is important to remember the human factor at play in these transitions. While new ventures bring promise and potential, they can also pave the way for displacement and uncertainty.
Fennemore Craig is congratulated on its new acquisition, and best wishes are extended to all the soon-to-be-former employees of Moye White as they prepare for this new chapter at Fennemore.
Further details are available in the American Lawyer’s coverage
here.