Massive mergers may start to affect lawyers; so far, in-house jobs seem solid, but things could change as the hierarchy shakes out
Article Abstract:
The financial services industry has experienced many mergers in 1998, and this trend, which first surfaced in 1997, continued until the unrest in the stock market began stalling deals. Many of these mergers were very substantial, especially for the financial world. The merger between Citicorp, the second-largest US bank and Travelers Group Inc, its second-largest diversified financial services company, would be an example. This was an $140 bil merger, the largest in US history. The number of in-house attorneys at the largest financial institutions stayed the same or rose slightly.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 1998
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Things are looking pretty healthy in-house; numbers are rising in legal departments, especially those in high tech and entertainment
Article Abstract:
A table of the 250 largest US companies is presented listing the number of in-house attorneys employed, head legal officers, and outside corporate counsel most often employed. In-house staffing levels continued to rise, with 40% of the corporations surveyed reporting an increase. Among the 27% reporting staff level decreases, most companies had reduced staff by three attorneys or less. Entertainment and high tech companies added the most attorneys in-house. The list of outside legal counsel was headed by the firm of Skadden Arps.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 1997
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New York megafirms lead financial field; but firms in other cities play their part, especially in the representation of thrifts
Article Abstract:
The quality and quantity of transactions in the banking and finance industry exceed any other period in the industry's history. More and more transactions cross lines creating larger and larger entities. Much of this is made possible by the attorneys of the major firms in Manhattan that facilitate the creation of financial monoliths. Law firms in other major cities play a role as well.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 1997
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