Risk Update

Conflicts Contributing to Change — Lawyer Departures, Lateral Movement & New Firms

King & Spalding M&A Leader Woolery Launches Boutique” —

  • “Jim Woolery, the former Cravath, Swaine & Moore dealmaker who recently led the M&A practice at King & Spalding, launched this week a new boutique focused on representing families and family offices in blockbuster transactions.”
  • “‘Increasingly, as law firms become like the large accounting firms, there’s going to be a role for the independent boutique model in the way there wasn’t before,’ Woolery said Thursday.”
  • “Woolery said he brings with him roughly 20 ‘blue chip’ clients, including 10 that he described as ‘very significant.'”
  • “The firm’s independence will allow it to work quicker, Woolery boasts, sparing it from extensive conflict checks that touch not on just other deal work but also the efforts of litigators and those handling investigations into special matters. These checks cannot only slow down the work flow but also compromise the confidentiality of deals within a law firm. Woolery was quick to emphasize that he had no particular issues with King & Spalding and painted these challenges as inherent in all large firms.”

Former Federal Prosecutor and AmLaw 100 Partner, David M. Chaiken, Launches National White Collar Trial Boutique” —

  • “Top white collar trial partner and former federal prosecutor David M. Chaiken announced today the formation of ChaikenLaw Ltd., a boutique national white collar litigation and investigations law firm based in Atlanta.”
  • “said Chaiken: ‘Our goal is to provide the highest quality legal representation to our clients—equal to that of any top firm in the country—but with some of the efficiencies that can be achieved in a smaller setting, such as lower overhead, fewer conflicts, and more flexible fee arrangements.'”