When I became managing partner of Pryor Cashman about six years ago, I sat down with a number of legal recruiters to discuss a strategy for partner acquisitions in certain practice areas. The firm was then only slightly smaller than we are now125 lawyers, most of us based in New York City, and a handful in Los Angeles. After my presentation to one legal recruiting firm, the grande dame that heads that firm announced that mid-sized law firms had no place in the legal marketplace and would not survive, even with the top talent she acknowledged we had.
Her pronouncement certainly had some currency at the time. Mid-sized firms had been declared dinosaurs, and many in New York City, particularly, had merged themselves out of existence.
The Legal Landscape
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