Jones Day, which can trace its heritage back to 1893, is one of the world’s largest firms by revenue, headcount and office coverage. It is also one of the largest in its heartland of the US and regularly features at the top end of deals rankings, although primarily for volume rather than value. It is also regarded as one of the country’s litigation powerhouses with a particular strength in restructuring. Jones Day was among the early US arrivals in London
Jones Day, which can trace its heritage back to 1893, is one of the world’s largest firms by revenue, headcount and office coverage. It is also one of the largest in its heartland of the US and regularly features at the top end of deals rankings, although primarily for volume rather than value. It is also regarded as one of the country’s litigation powerhouses with a particular strength in restructuring.
Jones Day was among the early US arrivals in London back in 1986 but it was only in 2003, when it merged with 145-lawyer London corporate-focused firm Gouldens that it achieved anything resembling critical mass. Gouldens was an idiosyncratic firm that did things its own way and was well-known for leading the market when it came to associate salaries. It also ran its training contract differently – expecting trainees to find their own work rather that putting them through a traditional seat rotation: that system survives to this day.
Jones Day’s culture is a continuing source of mystery for many outsiders, with several citing this as among the root causes of discontent. In particular, those who criticise the firm refer to its black box remuneration system (described by one person familiar with Jones Day as “a completely opaque compensation system which makes people nervous that they’re going to get screwed” and apparently dictatorial style of management, which is said to boil down to “whatever [managing partner] Steve Brogan says goes”.
In terms of work Jones Day London remains resolutely mid-market with strengths in real estate, corporate and disputes.
