In The News
Duane Morris Putting New Pieces in Place After Closing New York Merger
By Jeff Blumenthal
February 3, 2020
Philadelphia Business Journal
Duane Morris management learned best practices for integrating new lawyers from its two decades of aggressive organic and acquisitive growth.
Sheldon Bonovitz began his 10-year term as chairman in the late 1990s by inheriting a firm with just 190 lawyers — largely ensconced in its Philadelphia headquarters. He tripled the size of the law firm by opening numerous domestic and international offices, while successor John Soroko filled out existing locations with a wider variety of lawyers and expanded overseas, particularly in Asia.
When Matthew Taylor became the firm’s chairman and CEO last January, he inherited a firm with 750 lawyers spread across 29 locations. So he and his colleagues felt prepared to welcome 65-lawyer, New York-based Satterlee Stephens in a deal that was announced last month and closed Saturday. [...]
Taylor also said several Satterlee Stevens lawyers have been appointed to leadership roles at Duane Morris. Satterlee Stephens chairman James Coster will become co-managing partner of the New York office along with current office managing partner Michael D. Grohman. Coster and a yet-to-be-named Satterlee Stephens lawyer will also join the firm’s partners board — similar to a board of directors. [...]
For Satterlee Stephens, its lawyers and clients now have access to Duane Morris’ global reach. Taylor said lawyers have already identified new matters in New York, Wilmington, San Francisco and London where Duane Morris lawyers can work with Satterlee Stephens clients. [...]
Moving forward, Duane Morris will work to integrate its new lawyers while also keeping its eye on other opportunities. Taylor said the firm has a strategic plan that includes growing in New York, Texas, Northern California and Chicago in the U.S. and London and Singapore overseas — though he said it will be opportunistic throughout its footprint. The firm will be looking for lawyers who represent clients in the following industry sectors: financial services, health care and life sciences, technology, infrastructure and consumer and safety products. [...]
To read the full article, visit the Philadelphia Business Journal website.