High-Profile La to Run Local Branch of Brokerage.NEW York-based institutional brokerage Gerard Klauer Mattison & Co. Inc. is coming to town and has hired Ron Silverman, nameplate partner at Beverly Hills-based entertainment-media law firm Weissman Wolf Bergman Coleman & Silverman, to head up the new office. It another sign of the "brain drain brain drain n. The loss of skilled intellectual and technical labor through the movement of such labor to more favorable geographic, economic, or professional environments. " afflicting af·flict tr.v. af·flict·ed, af·flict·ing, af·flicts To inflict grievous physical or mental suffering on. [Middle English afflighten, from afflight, local law firms This list of the world's largest law firms by revenue is taken from The Lawyer and The American Lawyer and is ordered by 2006 revenue:[1]
Silverman, 53, is hitting the ground running for Gerard, hiring Jonathan Bloch, an investment banker Investment Banker A person representing a financial institution that is in the business of raising capital for corporations and municipalities. Notes: An investment banker may not accept deposits or make commercial loans. formerly with Chanin Capital Partners, and Internet research This article is about using the Internet for research; for the field of research about the Internet, see Internet studies. Internet research is the practice of using the Internet, especially the World Wide Web, for research. analyst David Takata, formerly with Gruntal & Co., to help warm new warrens in the Westwood Gateway office complex in Santa Monica Santa Monica (săn`tə mŏn`ĭkə), city (1990 pop. 86,905), Los Angeles co., S Calif., on Santa Monica Bay; inc. 1886. Tourism and retailing are important, and the city has motion-picture, biotechnology, and software industries. . More hirings are imminent, says Silverman. On the boards are plans to start a venture fund with $50 million to $100 million in the pot, said Silverman. Like other brokerages, Gerard Klauer has found that venture capital is an excellent entree to companies en route to an initial public offering -- and Los Angeles has become a venture capital Mecca, especially where "content meets the broadband," said Silverman. That means Hollywood can provide stories and images for content-hungry Web sites of the future, when rapid downloads become the norm. "Gerard has offices in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , San Francisco, Chicago and Tel Aviv," Silverman said. "Los Angeles was the obvious omission. But no more." But a lawyer as venture capitalist Venture Capitalist An investor who provides capital to either start-up ventures or support small companies who wish to expand but do not have access to public funding. Notes: Venture capitalists usually expect higher returns for the additional risks taken. ? Lawyers are often risk-averse, perhaps the opposite mentality of venture capitalists, who place a lot of bets -- many of which will return zilch -- hoping for a jackpot payoff. Can Silverman switch gears? "Well, this transformation will be and is very exciting for me," said Silverman, long active in media transactions. "The risk is the reward. My compensation is more incentive-driven. You do as well as your merits dictate." With law firms crying about a labor shortage and paying first-year law grads $125,000 a year plus bonuses, what advice does Silverman offer the legal industry as he hits the exits? "Law firms will have to start offering equity kickers (in client companies) in addition to straight pay," said Silverman. "They will have to become much more entrepreneurial, and they will have to accelerate the partnership track for the right young stars." Telling young tyros that if they work hard for eight years they might make partner in the firm "probably won't work anymore," said Silverman. |
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