Proskauer to Open Office in Chicago With Three Mayer Brown Partners
Proskauer Rose is opening a Chicago office despite the economic downturn that is battering some law firms.
Staffing the office will be three partners from Mayer Brown who specialize in representing corporate policyholders in coverage disputes with their insurance companies, the Chicago Tribune reports. Mayer Brown is now planning to represent insurers exclusively; several other lawyers who represent policyholders have also left the firm.
Proskauer chairman Allen Fagin told the Tribune the firm was interested in opening a Chicago office before the economy worsened. “We never view strategic expansion as a short-run issue,” he said. “We sense there is enormous opportunity for us now in the Chicago marketplace. You take advantage of opportunities when they are presented to you.”
Ropes and Gray also recently opened a Chicago office, also with a group of Mayer Brown partners. Its new hires focus on private equity, the National Law Journal reports in its story on Proskauer’s move.
Both firms view Chicago as an important market because it has a diverse economy and is home to several major corporate headquarters.
The partners moving to Proskauer are Steve Gilford, Paul Langer and Marc Rosenthal.
Mayer Brown had acquired new insurance company clients when it merged in 2002 with Rowe & Maw, the Tribune story says. The insurers were increasingly reluctant to grant waivers to allow the law firm to represent corporate policyholders in lawsuits, a Mayer Brown statement said.
