'Market Maker' GCs Send More Work to Midsize Firms
Midsize law firms and boutiques are benefiting from the financial downturn, as general counsel focused on saving money are sending more business their way.
Several consultants told the Am Law Daily that large companies such as Allstate, Johnson & Johnson, and Waste Management are sending more litigation and corporate work to midsize firms.
Pamela Woldow of Altman Weil told the Am Law Daily her consulting firm is seeing a “huge surge in interest” in regional firms from general counsel seeking lower attorney fees. “This is the first time in my life I’ve seen corporate counsel as the market makers.”
The article identifies these firms as among those getting additional work: Saul Ewing in the mid-Atlantic region, Parker Poe Adams & Bernstein in North Carolina, Butler Snow in Mississippi, and Lightfoot, Franklin & White in Alabama.
Robert Feit, general counsel at electronics maker Ametek, said his firm has sent more business to Saul Ewing, including two large deals. “It’s half the cost, at least,” he told the publication. “And you don’t have to pay a lot of associates to educate themselves.”
