Citing differences in opinion over the strategic direction of New York's Herrick Feinstein, a member of the firm's five-lawyer executive committee has left with two other attorneys to join Blank Rome.

Stephen Brodie, who joined Philadelphia-based Blank Rome this month, was co-chairman of Herrick's corporate department, chairman of its financial institutions practice group and, for the last three years, a member of Herrick's executive committee. He is joined in the move to Blank Rome by partner Julie Carvalho, in finance and restructuring, and real estate counsel Maureen O'Connor.

Brodie said Herrick's failed merger talks with Crowell & Moring indirectly led to his departure. He said after the talks broke down in March 2017, Herrick no longer sought a merger and committed to remaining an independent firm with a concentration in a few areas, including real estate and litigation, art and sports law.

“My practice could survive in a firm like that well enough, but it would thrive in a much bigger firm with geographic reach,” said Brodie, who had advocated for Herrick to merge. “I would be much better suited in a firm with a broader range of strong practice areas and bigger geographic reach.”

“I wanted to be in a firm that was large and more diverse, but I think a lot of the people who practice at Herrick didn't want that” and that may be right for those lawyers, Brodie said, adding he maintains “a lot of respect” and affection for Herrick.

Brodie, who practiced at Herrick for nearly 14 years, represents lenders in commercial real estate financing and represents banks and other financial institutions in lending money against fine art as collateral, as well as representing lenders in other transactions.

Carvalho focuses on debt financings, including middle-market transactions, art loans and other private wealth-lending transactions, mezzanine financings, and asset-based loans. O'Connor concentrates her practice on middle-market commercial loan and real estate transactions for banks.

Brodie said he spoke with other large firms after deciding to leave 120-lawyer Herrick. He said he chose Blank Rome because the firm, with 620 lawyers in 13 offices, fit the profile of what he was seeking, the firm's partners were very welcoming, and some trusted business colleagues had recommended the firm. “The reception I got here and the endorsement of these people whom I respect made it a lot easier” to switch firms, said Brodie, 67.

Brodie said most of his client matters are coming with him.

Brodie is one of about 10 partners, including some practice group leaders, to leave Herrick in 2017 and 2018. Some have joined Mintz, Levin, Cohn, Ferris, Glovsky and Popeo and O'Melveny & Myers, while others have started their own firms, including most recently Jonathan Adler and Adam Stein.

Herrick's experience with struggling to define its strategic direction, and choosing a merger and then backing out of it, can explain some departures, Brodie said.

At the same time, Herrick has made notable additions in recent months to its partnership. Last fall the firm hired Patrick O'Sullivan, former executive vice president and head of real estate transactions at the New York City Economic Development Corp., and last month it hired Morris DeFeo Jr., a key Crowell & Moring partner in the merger due diligence talks, to serve as co-chairman of its corporate practice.

DeFeo became a corporate co-chairman, alongside Stephen Jacobs, after Brodie resigned from a co-chairman position.

A Herrick spokesman on Friday did not discuss the three attorney departures but did address Brodie's statements on Herrick's strategy, defending the firm's smaller size and asserting parallels with some of New York's most elite law firms.

“After our discussions with Crowell ended, we emerged with a renewed passion for being an exceptional midsize firm, but our core practice areas remain in the areas where we have a deep bench, including lending for many large financial institutions, M&A, securities, corporate finance, fund formation, and real estate, sports, art and litigation,” the spokesman said.

“Certainly a large footprint has benefits and some firms pursue that model,” the Herrick spokesman added. “However there are many firms, including Wachtell, Lipton, Rosen & Katz; Cravath Swaine & Moore; Sullivan & Cromwell; Seward & Kissel; and Patterson Belknap Webb & Tyler, who thrive with a smaller footprint. We've managed to build a strong national and international practice without numerous offices.”