A new and ferocious competitor is entering the arena of Minneapolis-St. Paul Big Law: Jones Day. Multiple reliable sources have reported that a number of lawyers from Barnes & Thornburg‘s Minneapolis office will be opening up a Minneapolis branch of Jones Day.
This is bad news for Barnes & Thornburg, which has reportedly lost three preeminent lawyers (Roy Ginsburg, Peter Ekberg, Annamarie Daley).
This is bad news for all of Minnesota’s largest and most prestigious law firms. They will now certainly lose more business to Jones Day and, very possibly, the Minnesota top-10 will lose some of their most profitable partners to Jones Day, as well, because Jones Day’s profits-per-partner (ppp) dwarf all Minnesota-based law firms by a large margin.
This is excellent news for the lawyers who are making the move. This is no news to the rest of us.