AZB & Partners Delhi senior associate Niruphama Ramakrishnan has joined J Sagar Associates (JSA) and its recently-expanded capital markets team as a partner, with three other fee-earners from Delhi from 1 April.
Ramakrishnan is a 2009 Nalsar Hyderabad graduate who had previously also worked at erstwhile Amarchand Mangaldas and S&R Associates, before moving to AZB in 2019.
She joins ex-AZB partner Madhurima Mukherjee, who had moved to JSA in mid-2020 as a consultant and became equity partner there last month.
Ramakrishnan was joined at JSA Delhi by two senior associates and one associate, all also from her team at AZB Delhi.
Delhi managing partner Ajay Bahl commented last month: “We wish them well whatever they do next and wherever.”
Mumbai region also loses 3 fee-earners following Choudhary exit
Meanwhile, two fee-earners have resigned from AZB’s capital markets practice in Pune and one in Mumbai.
All three are understood to be joining Trilegal, where former AZB Pune cap markets partner had Richa Choudhary joined in February as a partner.
The Mumbai partnership’s managing partner Zia Mody confirmed the departures and commented: “We wish them all the very best.
“We have successfully hired to fill the gaps. Our cap markets capabilities continue as before and will be back to full strength very shortly.”
According to AZB’s website, there are currently two partners remaining in AZB’s capital markets practice: Agnik Bhattacharyya in Delhi and Varoon Chandra in Mumbai.
Correction: In AZB Mumbai partner Lionel D’Almeida also practices capital markets and securities.
The AZB capital markets’ associate headcount is understood to therefore have been severely depleted by the moves, though Mody said that several offers to hire fee-earners had been made and accepted both in Delhi and in Mumbai.
Comments
Having worked with the erstwhile AMSS (Capital Markets) for couple of years and now in -house (as a Banker), I think in the long run, Prashant & Nikhil (SAM), Manan (Indus) and Yash (CAM) are clear winners, as they care about their people, ensure timely increment for their teams. Also, heard that there is next to zero attrition in their teams (nonetheless, one of the lead bank has hired few associates from CAM, Mumbai capital markets, but this appears more of a choice than environment issues).
In CAM, Vijay, Reuben, and Abhinav (obviously, Yash is a star lawyer) appear to be clear winners, the way they are building their teams and supporting the juniors (considering everyone is overburdened with work in current scenarios).
Varoon & Lionel (AZB) are also star lawyers (I heard Lionel is a dude and one of the nicest person), but with recent exits, without any increments (not verified), things are not jelling well. Heard there are more exits (at least one as per rumors within the capital market circles) on the way.
Overall, the capital markets team at SAM, Indus, and CAM have benefitted the most. AZB capital markets team has good people, but it is the biggest loser in terms of experienced people leaving and the ones who stayed (I heard but not verified) are not given any pay hikes despite working their asses off.
Being a banker and closely working with these firms, I really hope these firms take care of their teams, considering the number of hours these teams are slogging and working round the clock.
Cheers and happy billing !!
So lets put the pseudo feminism agenda to bed (there are many skeletons in every closet).
About people leaving and preference, there are more female associates who have left than the male ones. So obviously, your male preference information about the people leaving are incorrect.
See FYI - https://blog.ipleaders.in/gender-diversity-leadership-indian-law-firms/
this is higher than CAM, JSA, KCO
does this seem like a boys club?
But more importantly, why shouldn’t I wait for my bonus? I have worked for it an entire year (a year where no increments were given). I deserve it and no one else should get to keep it.
And sorry - what precedent?
precedent = bad behaviour, where people collect bonuses without clarifying intention of leaving - which is presumably what gives associates a bad name and prompts partners to push bonus declaration to Sept (per your compliant!) to stop people from messing with the firm.
bonuses are not only for past performance (notwithstanding what they SHOULD be for) - these are an effective tool for employee retention - so lets not mislead and then blame the system
lastly, I have heard of deserving employees who left in Dec/ Jan being given bonuses at AZB
moral of story - 1) leave if you want to, but be upfront about your intentions so the rest of us don't get a negative image, 2) really stop complaining - we have intelligence and the opportunity which offers more mobility than most - lets not pretend we're stuck at azb and continue to lament at its toxicity.
I hope you find a place which makes you happy and soon!
Didn’t realise AZB management was responding to legally India articles too.
Take a bow, Kian!
pls do let me know how to connect with you - your views seem a tad bit misrepresentative!
also I am not super confident of your bonus deserving qualities - one, you didn't respond to any of the points made sensibly (negotiations nightmare sirji!), but diverted the focus entirely by this silly comment, two - you've spent waaaay too much time here. fingers crossed ha - all your belly-ached waiting shouldn't go to waste!
tell me did you NOT know that azb declares bonus in sept? Tina gussa kyun?
And why are you waiting to leave - there are plenty of law firms today that will hire you if you’ve worked at AZB. The HR department for a particular law firm, which comprises of former AZB HR personnel (most people at AZB will know who I am talking about) calls all associates at AZB and offers them jobs from time to time. Clearly, you haven’t been receiving these calls and you should most definitely wonder why. I sincerely hope you find happiness elsewhere post bonuses this year and escape the toxicity that has evidently been plaguing you.
The comments on this post are more toxic than the work culture at most law firms!
I don't think the above applies across the board at ANY law firm - including AZB.
having worked at azb for 4 years - I am happy to say certainly that notwithstanding partners / team members getting stressed out from time to time (which should be commonplace) - the work culture in our team is largely accommodative; we don't have mad work hours - some days are tough - as in any law firm. we can't expect mummy to fix the client servicing nature of law firms (or the demands of bankers and clients!).
did you also know that interns also leave azb on a monthly basis! must be because of the toxic work culture, pseudo-feminist bosses, stingy pay practices and super whiny associates!
kian pls look into this for some real value reporting!
Kian - can you check and confirm that AZB has not paid any increments for the last financial year and people are leaving across teams due to this.
Is this why everyone is leaving?
if you don't do TS - then salary is not paid - the request does not go to Lord Commander and she doesn't decide
if you don't do TS at SAM - you are locked out of Citrix and not paid
if you don't do TS at KCO - you are not paid
if you don't do TS at Veritas - you are not paid
But she reaches into your soul and destroys it! It’s never good enough. Whatever recovery you make is not enough. Whatever work you do is shit. She gets the work. It’s her clients. You are just a machine, easily replaceable! A or B or the rest of the gang survive by keeping out of the way.
Soul destroyer? I seriously think you have a ridiculously thin skin and I’m sorry, but that will really hurt your chances in whatever you do. Agree that her ways can be demotivating and her words can be mean - but if this destroys your soul and you’re being criticised or marginalised to this extent, then perhaps look inwards. Or look outward and leave and find something or someplace else that makes you happier.
This Wikipedia level of research does not bode well for any law firm friend - better you don't take any law firm offers
Seems like a gaping hole right now? Must watch the space to see the talent the "star" lawyers who lead this practice, attract. Heard almost everyone who came with Ashwath is gone.... now Entire Capital markets team gone! i hear Mummy insisted people come back to Mumbai in the middle of this horrific second wave of pandemic. So they may have quit.
Now who will do the work that Mummy bullies people into giving? will [...] finally have to work!!! hai hai....very sad day indeed.
will wait for some answer from the so-called "banker" who understands the market so well... bhai job laga de. promise i will not demand anything including basic human rights.