In a move that catapults Reed Smith into investment management practice, the firm has acquired 12 lawyers from the legal department of Pittsburgh-based mutual fund company Federated Investors, effective Oct. 1.
Reed Smith chairman Gregory Jordan said that the firm would be assuming responsibility for the management and execution of most of the day-to-day work performed by Federated’s legal depart-ment. Federated is one of the nation’s largest investment management companies, managing more than $185 billion.
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