Winston ends negotiations with Howrey; recruits lawyers on the way out

January 26, 2011 Merger negotiations between Chicago-based Winston & Strawn and Washington DC-based Howrey have ended, but Winston’s interest in Howrey is not concluded. According to reports, Winston will be making a series of employment offers to Howrey lawyers this week.

Howrey has seen an exodus of 60 lawyers in the past year – nearly ten per cent of the total. The firm described the changes as part of a restructuring plan. Meanwhile, the firm’s revenues dropped 16 per cent in 2009, to $480 million, and profits per partner fell 35 per cent to $845,000.

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