Federal Prosecutors Starting Their Own Small Firms

One former prosecutor, now name partner in a litigation boutique, says he can name ten such startups that were started in the last five years. This trend is a response to a shrinking market for new attorneys at the big firms, according to the head of a legal placement firm, “A lot of firms have filled their white-collar practices,” he says, “and there is less demand for white-collar attorneys.” One former prosecutor who helped set up a white collar litigation and government investigation boutique, after a stint at one of the big firms, says he wanted to set up an operation where they don’t spend money on “beautiful paintings or celebrity speakers at retreats, or a lot of internal competition.” He claims the 23-lawyer firm where he’s now a name partner can charge 60 percent less for the same services.