Corporate Board Member magazine and global business advisory
firm FTI Consulting, Inc. (NYSE: FCN) today announced the results
of the 12th annual America’s Best Corporate Law Firms study, a
comprehensive ranking by U.S. corporate directors and general
counsel of the top 25 national corporate law firms.
According to the 2012 study, New York’s Skadden, Arps, Slate,
Meagher & Flom receives top ranking among corporate directors,
a position it has held since the advent of the survey in 2001. New
York-based Cravath, Swaine & Moore and Wachtell, Lipton, Rosen
& Katz were next in line, respectively, followed by fourth
placed Jones Day of Washington, D.C. The fifth and sixth place
rankings are held by Sullivan & Cromwell and Weil, Gotshal
& Manges, respectively, both of New York. Each of these top six
firms appeared in one of the top six places among last year’s
rankings as well.
Further down the list, many of the 2012 firms remain steadfast
among the top firms in recent years. Los Angeles-based Latham &
Watkins enjoys an elevated status, rising to eighth place from
15th. Additionally, several firms ranked in previous years reappear
on the 2012 list: Arnold & Porter of Washington, D.C.; San
Francisco-based Morrison & Foerster; and the New York firm
White & Case.
“FTI Consulting is pleased to partner again with Corporate Board
Member on this reputable industry study, which salutes the
impressive achievements of the nation’s top-performing law firms,”
said Neal Hochberg, Senior Managing Director and Global Leader of
the FTI Consulting Forensic and Litigation Consulting practice.
“Each of these distinguished firms, many of which continue to top
this list year after year, has been recognized as an industry
leader for strong corporate stewardship and commitment to providing
outstanding client service. We applaud all of the firms that have
been named in this year’s ranking, including Skadden, Arps, Slate,
Meagher & Flom, which leads the pack for the 11th year in a
row.”
In a separate survey of corporate general counsel, Skadden,
Arps, Slate, Meagher & Flom once again leads the top 25
rankings, followed by Wachtell, Lipton, Rosen & Katz and
Cravath, Swaine & Moore in second and third places,
respectively, all based in New York City, mirroring findings from
the past two years. In addition, the Washington, D.C., firm of
Jones Day leaped to the number five position from 12th place last
year. The 2012 list also features several firms not listed last
year, including K&L Gates (Pittsburgh); Arnold & Porter
(Washington, D.C.); and Mayer Brown (Chicago).
“This year, we welcome back some familiar names and congratulate
all the organizations selected as a top corporate law firm by
directors and their general counsel,” said TK Kerstetter, President
of Corporate Board Member. “These firms have established themselves
as industry leaders, many of them year after year, by their
exceptional contribution to the corporate community.”
The following are the top 25 national corporate law firms for
2012, according to the corporate directors surveyed by Corporate
Board Member/FTI Consulting (with their 2011 ranking in
parentheses):
1. Skadden, Arps, Slate, Meagher & Flom, New York (1) 2.
Cravath, Swaine & Moore, New York (2) 3. Wachtell, Lipton,
Rosen & Katz, New York (3) 4. Jones Day, Washington, D.C. (5)
5. Sullivan & Cromwell, New York (4) 6. Weil, Gotshal &
Manges, New York (6) 7. Baker & McKenzie, Chicago (7) 8. Latham
& Watkins, Los Angeles (15) 9. Kirkland & Ellis, Chicago
(9) 10. Gibson, Dunn & Crutcher, Los Angeles (11) 11. Paul,
Weiss, Rifkind, Wharton & Garrison, New York (8) 12. Davis Polk
& Wardwell, New York (10) 13. Fulbright & Jaworski, Houston
(12) 14. Sidley Austin, New York (18) 15. Wilson Sonsini Goodrich
& Rosati, Palo Alto (14) 16. Shearman & Sterling, New York
(13) 17. Simpson Thacher & Bartlett, New York (16) 18. Arnold
& Porter, Washington, D.C. (-) 19. Akin Gump Strauss Hauer
& Feld, Washington, D.C. (17) 20. Baker Botts, Houston (25) 21.
Morrison & Foerster, San Francisco (-) 22. King & Spalding,
Atlanta (24) 23. O’Melveny & Myers, Los Angeles (23) 24. Fried,
Frank, Harris, Shriver & Jacobson, New York (19) 25. White
& Case, New York City (-)
Source: Corporate Board Member/FTI
Consulting
The following are the top 25 national corporate law firms for
2012, ranked according to general counsel surveyed by Corporate
Board Member/FTI Consulting (with their 2011 ranking in
parentheses):
1. Skadden, Arps, Slate, Meagher & Flom, New York (1) 2.
Wachtell, Lipton, Rosen & Katz, New York (2) 3. Cravath, Swaine
& Moore, New York (3) 4. Latham & Watkins, Los Angeles (4)
5. Jones Day, Washington, D.C. (12) 6. Sullivan & Cromwell, New
York (10) 7. Davis Polk & Wardwell, New York (6) 8. Weil,
Gotshal & Manges, New York (7) 9. Sidley Austin, New York (8)
10. Kirkland & Ellis, Chicago (9) 11. Baker & McKenzie,
Chicago (13) 12. Simpson Thacher & Bartlett, New York (11) 13.
Gibson, Dunn & Crutcher, Los Angeles (5) 14. DLA Piper, Atlanta
(16) 15. Shearman & Sterling, New York (19) 16. K&L Gates,
Pittsburgh (-) 17. Covington & Burling, Washington, D.C. (15)
18. Morgan Lewis & Bockius, Philadelphia (24) 19. Fulbright
& Jaworski, Houston (25) 20. Wilson Sonsini Goodrich &
Rosati, Palo Alto (22) 21. Arnold & Porter, Washington, D.C.
(-) 22. Mayer Brown, Chicago (-) 23. Cleary Gottlieb Steen &
Hamilton, New York (14) 24. Hogan Lovells, Washington, D.C. (17)
25. Akin Gump Strauss Hauer & Feld, Washington, D.C. (23)
Source: Corporate Board Member/FTI
Consulting
The survey was mailed in January 2012 and also asked corporate
directors and general counsel of U.S. publicly traded companies to
weigh in on current governance matters. Across the board, directors
and general counsel were adamant about their dislike of the
whistleblower provision in the Dodd-Frank Wall Street Reform and
Consumer Protection Act, which rewards employees who go directly to
the U.S. Securities and Exchange Commission with allegations of
fraud or company malfeasance. A broader analysis of these results
will be featured in a special supplement sponsored by FTI
Consulting that will be included with the third quarter 2012 issue
of Corporate Board Member.
In addition to naming the top 25 corporate law firms nationally,
the Corporate Board Member/FTI Consulting study identifies the top
law firm in 25 major U.S. metropolitan areas, according to the
corporate directors and general counsel polled. A complete listing
of the top national corporate law firms according to corporate
directors and general counsel and the metropolitan rankings appear
in the second quarter 2012 issue of the magazine and are available
at www.boardmember.com/currentissue.aspx.
On May 8, Corporate Board Member and FTI Consulting hosted the
fifth annual Legal Recognition Dinner at the Grand Hyatt in New
York City, honoring distinguished general counsel and the top 25
national corporate law firms as identified by corporate directors
and general counsel in the 2012 survey.
About Corporate Board Member
Corporate Board Member, an NYSE Euronext company, is the leading
information resource for senior officers and directors of publicly
traded corporations, large private companies and Global 1000 firms.
The quarterly publication, Corporate Board Member magazine,
provides readers with decision-making tools to deal with the
strategic and corporate governance challenges confronting their
boards. Corporate Board Member further extends its governance
leadership through an online resource center, conferences,
roundtables and timely research. The magazine maintains the most
comprehensive, up-to-date database of directors and officers
serving on boards of publicly traded companies listed with NYSE
Euronext and The NASDAQ OMX Group, Inc. stock exchanges.
www.boardmember.com
About FTI Consulting
FTI Consulting, Inc. is a global business advisory firm
dedicated to helping organizations protect and enhance enterprise
value in an increasingly complex legal, regulatory and economic
environment. With more than 3,800 employees located in 24
countries, FTI Consulting professionals work closely with clients
to anticipate, illuminate and overcome complex business challenges
in areas such as investigations, litigation, mergers and
acquisitions, regulatory issues, reputation management, strategic
communications and restructuring. The company generated $1.56
billion in revenues during fiscal year 2011. More information can
be found at www.fticonsulting.com.
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