LATERAL SHIFTS AND DELAWARE GROWTH SHAKE UP LAW MARKET
Lowenstein Sandler has expanded into Wilmington, Delaware, by bringing on former Polsinelli bankruptcy leader Christopher Ward to head its new office, marking the firm’s strategic push to strengthen its bankruptcy practice—particularly on the debtor side. While Ward is currently the sole attorney in the temporary space, plans are underway to quickly grow the team. His move aligns with a broader trend of firms entering the Delaware market in 2026 and brings added access to the state’s key bankruptcy court. Firm leadership emphasized that the expansion is driven by Ward’s established practice and reputation, as well as a broader strategy to balance economic uncertainty with strong restructuring, litigation, and transactional capabilities, positioning the firm for continued growth.
MARKET MOVEMENTS
Eversheds expands in Houston with three Baker & Hostetler partners, Ryan Pittman, Eric Pittman, Eric Kristiansen, Cleve Glenn
Morgan Lewis adds four partners, Julia Medynskaya, Daniel Rosen, and Brendan Sponheimer and Joshua Nixt, from Baker McKenzie
Reed Smith adds Baker Botts energy litigation partner, Jason Newman, in Houston
Norton Rose picks up 4-lawyer group, Partner Anne Johnson, Senior Associate Stephani Michel, Counsel Megan Coker, and Senior Counsel Kelli Bills
FIRM SPOTLIGHT - HERRICK FEINSTEIN LLP
Herrick is a midsize law firm with over 130 lawyers across offices in New York, New Jersey, and Istanbul, with more than 90 years of history rooted in its origins as a real estate boutique. Now recognized as a top New York firm, it offers a broad range of services across nearly 20 practice areas and multiple industries. The firm is especially known for its strong real estate, litigation, and sports law practices, providing full-service capabilities and working with high-profile clients, including professional sports franchises. With a deep bench of experienced litigators and a reputation for excellence, Herrick emphasizes performance-based advancement, rewarding associates based on merit rather than a traditional lockstep system. This approach fosters a high-performance culture focused on individual impact and long-term client success.
INDUSTRY INSIGHTS
Holland & Hart grew its net income by 17.8% in 2025. The firm’s profits per equity partner also reached $1.3 million in 2025, a 22% increase over 2024, amid a slight decline in equity partners, from 161 to 156
Quinn Emanuel saw a 16% jump in net income and a 12.6% rise in gross revenue in 2025 amid sustained demand for the litigation firm. Profits per equity partner rose by more than 10%, totaling more than $9.5 million
PE deal count for Q1 2026 is a 20% dip from the same period last year — which was a 1.4% decline from 2024, which was a 13.8% decline from 2023, according to LSEG figures. Overall, since deal volume hit a high for the 2020s of 13,961 in 2023, deal volume has decreased 31.8%
In Q1, Sullivan & Cromwell's deal value was up 44.8% from the period in 2025, Kirkland up 26.5%
Energy Team Jumps to Kirkland
A group of approximately 10–11 energy and infrastructure lawyers is expected to leave Latham & Watkins to join Kirkland & Ellis, led by partners Chris Peponis in Houston and Hamad Al-Hoshan in New York. The move reflects ongoing demand in the energy and infrastructure space, as firms continue to expand these practices. While details on timing remain unclear, the departures mark another notable lateral shift, with both partners having joined Latham themselves in 2022 from White & Case.
Jones Day Adds Four Supreme Court Clerks
Jones Day has hired four former U.S. Supreme Court clerks from the October 2024 term to join its issues and appeals practice, continuing the firm’s long-standing focus on recruiting top appellate talent. The new associates—Elise Kostial (Chief Justice John Roberts Jr.), Kari Lorentson (Justice Amy Coney Barrett), Seanhenry VanDyke (Justice Brett Kavanaugh), and Alexis Zang (Justice Clarence Thomas)—all clerked for Republican-appointed justices and include three women and one man. While this year’s group is smaller than in recent cycles, Jones Day has recruited 100 Supreme Court clerks since 2011 and maintains one of the largest cohorts of former clerks among U.S. law firms. The hires are expected to strengthen the firm’s appellate and Supreme Court practice, where former clerks are highly prized for their expertise in high-stakes litigation and often receive substantial signing bonuses.
