Jones Day's London office has demoted at least four partners to counsel.
RollOnFriday has been given four names, one of whom was only made up to partner in 2012, so hasn't even been given a decent stab at the role. Another resigned from the firm after being made down. And it's possible that more partners have been hit but the firm is refusing to comment.
Jones Day has plenty of form on this. It made down three London partners in 2013 and at least five in 2009. On each occasion the firm refused to explain why it felt the need publicly to shame the partners rather than keep them on the letterhead and reduce their profit share, like every other firm in the City. As it is the former partners will have to hand back their business cards, change their email signatures and explain to their colleagues, families, friends and clients why they have been demoted. Nice touch Jones Day.
The firm refused to comment, again. So draw your own conclusions.
Tip Off ROF
RollOnFriday has been given four names, one of whom was only made up to partner in 2012, so hasn't even been given a decent stab at the role. Another resigned from the firm after being made down. And it's possible that more partners have been hit but the firm is refusing to comment.
Jones Day has plenty of form on this. It made down three London partners in 2013 and at least five in 2009. On each occasion the firm refused to explain why it felt the need publicly to shame the partners rather than keep them on the letterhead and reduce their profit share, like every other firm in the City. As it is the former partners will have to hand back their business cards, change their email signatures and explain to their colleagues, families, friends and clients why they have been demoted. Nice touch Jones Day.
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How it might look. |
The firm refused to comment, again. So draw your own conclusions.
Comments
But on the down-side, they are pretty ruthless with those upon whom blamed is (often unfairly) pinned when mistakes are made (and the lack of supervision and PSLs means that happens pretty frequently).
Legal skills less impressive.
Hear hear. Jones Day lawyers are known City-wide as a pissed-up rugby team pretending to offer legal counsel. Some of the partners I had the (dis)pleasure to work with on deals were genuine sex pests, who should have been locked up ages ago.
All round an incredibly hyped-up and unremarkable firm. Thank God I'm out.
Couldn't agree more. Can't wait until I can get out.
It's also a bit much to say that they aren't good lawyers. For all their quirks and oddities, it produces some great solicitors. It isn't surprising that their competitors would like to spread it about that they are a 'pissed up rugby team, just pretending to offer legal counsel'. But the proof of the pudding is in the eating. By and large they seem to secure great clients who keep on coming back - so they are doing something right. And as this thread proves, once you've trained at JD you don't struggle for future employment.
A bonus system for associates wouldn't hurt.
*delete as applicable depending on point of view
Lateral hires seem to get lured in by big money, but it's true that they don't stay - there's more churn than Associated Dairies, particularly when they realise how precarious their position is (even if they get a partnership).
Let's all get a grip and put this gossipy rumour mill to rest shall we?
p.s. a scorned vaccy never forgets and never forgives - move on.