Unsuccessful Merger Leads to Successful Deal

01/30/08

"We had to regroup and decided it wasn't in the cards," said Reed Smith Global Managing Partner Gregory B. Jordan about the merger. "So we thought about who we wanted to ask to join us and made offers to those people. Almost all of them accepted."

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Reed will also add 25 partners, three counsel, 27 associates, and many "legal support personnel" to its staff. Regarding the new hires, Jordan said, "We are delighted that these talented attorneys will be joining us to start 2008 on a very positive note. These are high-performing individuals whose practice interests and clients are compatible with our firm's existing platform, as well as with our long-term strategic plans for future growth."

With offices in London, China, New York, Philadelphia, and Chicago, Reed will place many of the attorneys in three practices: insurance recovery, bankruptcy and restructuring, and commercial litigation.

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According to Robert Nicholas, Reed Smith's New York managing partner, "This group of lawyers is team oriented, open minded, and flexible, and they are interested in and committed to being part of a growing and dynamic firm. The addition of these attorneys will significantly enhance our New York litigation capability with practices that complement the rapidly growing private equity and M&A work we are doing in New York."

One of the 15 largest law firms in the world, Reed Smith has more than 1,600 lawyers throughout the world. The firm, founded in 1877, "represents leading international businesses from Fortune 100 corporations to mid-market and emerging enterprises," says a press release.