Business of Law
New law firm of BigLaw refugees is overseen by former weight loss executive
Posted Feb 24, 2014 8:02 AM CDT
By Debra Cassens Weiss
The former leader of weight-loss company Medifast is co-founder of a new Washington, D.C., law firm.
Mike McDevitt is chief executive of the Tandem Legal Group, which opened in March, the Washington Post reports. The nonlawyer is able to share in the law firm’s profits because of unique D.C. ethics rules, He formed Tandem with former Latham & Watkins associate Randy Price, who also previously worked for a litigation funding firm.
Tandem’s core clients earn $5 million to $20 million a year in revenue. Its goal is to offer legal services with “a business advisory component,” according to the Post. It has six lawyers, and plans to grow to no more than 25 lawyers.
“Tandem prides itself on its anti-law firm culture,” the story says. “There are no cubicle walls separating desks, and no suits and ties in sight.” A black mastador sometimes accompanies McDevitt to work. A tandem bike is on display, illustrating the firm's “bike” philosophy of “Be yourself, Innovate, Kindness and Engagement.”
McDevitt tells the Post that Tandem is the antithesis of today's huge law firms, structured as pyramids with many associates. "We’re building what law firms were 40 years ago,” he said.