While Reed Smith's finances slipped slightly in 2016, the firm's expansion spree, spurred in part by bulk lateral hires, has continued unabated into June.

The firm announced Monday the addition of three new partners in New York and San Francisco. In the Bay Area, where Reed Smith saw a seven-lawyer class action team depart in March, the firm has picked up banking and finance partners William Veatch and Catherine Young Hagerty from Morrison & Foerster. Veatch joined MoFo in 2003 from Cooley, while Hagerty has been of counsel at MoFo for the past decade.

In the Big Apple, Don Andrews has left Venable, where he led the firm's risk and compliance group, to join Reed Smith and head its new global risk and compliance practice. He said the scale of Reed Smith's financial services team, which numbers around 225 lawyers and represents nine out of the 10 largest U.S. banks, will help him serve his clients more effectively.