Flight of the Rainmakers: Big-Firm Lawyers Opt for Boutique Practices
Rainmaker Ronald Schiller’s decision to leave DLA Piper for a litigation boutique was at one time considered a risky move.
Schiller, the head of DLA Piper’s Philadelphia litigation practice, is one of seven lawyers leaving the big firm for Hangley Aronchick Segal & Pudlin. He told Bloomberg the new firm is “nimble” and lets lawyers “tweak rates.” He also pointed out that conflicts of interest can be an issue at large law firms.
Sharon Mahn of legal recruiting firm Major, Lindsey & Africa told Bloomberg that moves like Schiller’s are becoming more common. “Five years ago a lawyer with a multimillion-dollar book of business might not consider joining a small firm, for fear that his clients wouldn’t want that firm on their preferred list,” she said.
“In today’s economy, the smaller platforms are becoming much more attractive. At a smaller firm, the client gets more attention and they get lawyers with big-law-firm training at lower billable rates.”
Other big-firm lawyers opting for smaller firms include:
• Andrew Sandler, who headed the consumer financial services litigation practice at Skadden Arps Slate Meagher & Flom, left to co-found a new financial services boutique, BuckleySandler.
• Four litigators from the New York office of Clifford Chance left to form the arbitration boutique Chaffetz Lindsey.
