© 2016 The Texas Lawbook.
By Brooks Igo
(June 22) – Veteran Houston trial lawyer Jim Maloney is leaving Big Law to launch a more “client-centric” firm.
Maloney, who practiced for more than 40 years at Baker Botts and, most recently, Andrews Kurth, said he has a lot of trials left in him.
“There is nothing like the feeling when a jury comes back and says you are right.”
Maloney highlighted a few important changes to the practice of law that motivated him to take the leap and hang his own shingle.
One is the shift from clients hiring law firms to clients hiring a specific lawyer. Another is the challenge of winning new business with the client conflicts at larger law firms.
And then there is the issue of rates.
“I couldn’t afford to hire me at a large firm,” he said. “The firm practice has changed to make it more lawyer-centric versus client-centric.”
Maloney admits it is a bit scary leaving the security of a big, well-oiled law firm to start his own business.
“My nine-year-old’s first question was, ‘How are we going to make money?’,” he said. “I told him, ‘If worse comes to worst, we will eat up your inheritance’.”
Maloney, who at one point led Baker Botts’ securities litigation section, says he is seeing an uptick in those cases. One trend he is noticing is plaintiff’s securities lawyers are going to “desperate lengths” to keep cases in state courts and away from federal courts.
The Harvard Law School graduate says the move to go out on his own also frees him up to do more pro bono work. He is representing the American Civil Liberties Union in a number of upcoming matters.
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