Morrison & Foerster State Tax Group Jumps to Blank Rome
The team includes Craig Fields, who co-chaired Morrison & Foerster's tax practice and led its state and local tax group.
February 26, 2020 at 02:19 PM
3 minute read
Four New York lawyers in Morrison & Foerster's well-known state and local tax practice, including the group's chair and two other partners, are moving to Blank Rome.
Craig Fields, who co-chaired Morrison & Foerster's tax practice and led its state and local tax group, and Nicole Johnson and Mitchell Newmark, both more junior partners, moved to Blank Rome on Feb. 15, the firm said. Holly Hyans, senior counsel at Morrison & Foerster, will be joining Blank Rome in early March as a partner. The firm said Wednesday it "expects to continue expanding the team over the coming weeks."
"Clients turn to Craig, Holly, Nicole and Mitchell for their unmatched experience and deep technical and procedural knowledge," said Cory Jacobs, who co-chairs Blank Rome's tax, benefits and private client group, in a statement. "Whether representing corporations or high-net-worth individuals, the team is adept at successfully and efficiently counseling clients in any state or locality with any tax issue at any time. We are thrilled to have them join our team."
Fields is now co-chair of the tax group at Blank Rome, the firm said. He has notched major wins in the U.S. Supreme Court and state supreme courts for clients including Kohl's Department Stores and Agilent Technologies, according to his former firm's website.
Morisson & Foerster's state and local tax group now lists 12 people on its website, only one of whom—Bernie Pistillo in San Francisco—is a partner. Another is Hyans.
Speaking generally about state and local tax practices, Ross Weil, a legal recruiter at Walker Associates, said such practices are disputes-focused and often sought after by law firm leaders.
"It's a practice many law firms want to get because it's self-sustain[ing]," with lawyers who source their own business and offer cross-selling opportunities, he said. "Any major corporation has to pay taxes all over in different states and has different issues where the laws are … gray, and they have to fight for these clients."
Blank Rome has continued to add lawyers in New York. Earlier this year, it added Stacy Louizos from Drinker Biddle & Reath to co-lead its investment management practice, followed by adding Seth Liebenstein as of counsel in its real estate practice. Grant Palmer, Blank Rome's CEO, noted Louizos' hire and said in a Wednesday statement that the firm was "thrilled to keep the momentum going" with the new partners.
Morrison & Foerster reported a double-digit increase in gross revenue last year, to $1.15 billion, while average profits per equity partner grew 3.3% to $2.05 million. Blank Rome's financial performance in 2019 is not yet available, but the firm in 2018 generated $443 million in revenue, with profits per equity partner just shy of $1 million.
Morrison & Foerster said in a statement that it wished the departing lawyers well. The firm said that it was equipped to assist its clients' tax needs.
"We remain well-positioned to meet our clients' needs and to continue on our strategic growth trajectory in New York, having welcomed eight lateral partners to the office since January 2019, including tax partners Ann Becchina and Ron Aizen," a firm spokeswoman said.
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