The Reed Smith Rocket Formula
Publication Date: July 13, 2006
Publication Name: ALM's Law Firm Business Development Best Practices
What a difference a new millennium makes. As 1999 ended, Reed Smith was a Pittsburgh-based regional firm with 510 lawyers pulling in $165 million annually. They had a solid reputation, but there was trouble on the horizon. Economic growth was soft and their best clients, such as Mellon Bank, were going global – putting them in the cross-hairs of larger firms.
That’s when trial lawyer Gregory B. Jordan made a bid for managing partner. “The Rust Belt region wasn’t the geographic footprint of the future [and] my position was that we needed to accelerate expansion and become an institution to serve clients better and prosper,” he recalls.
Since Jordan’s election in 2000, the firm has indeed become an institution - more than doubling in size while expanding to 18 offices around the globe. The firm has also leveraged its business development capability in targeted industries, such as financial services, manufacturing, life sciences, media and technology.
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