Why LA Law Firms Fared Better than Some in San Francisco
Law firms in Los Angeles were quicker to build national practices than their failed counterparts in San Francisco, a management decision that likely accounts for their survival, legal consultants said.
In the last five years, three big San Francisco law firms have dissolved or are close to disbanding. Brobeck, Phleger & Harrison was first, followed by Heller Ehrman and then Thelen, which is taking a partnership vote on dissolution.
Legal Pad notes that all the powerhouse Los Angeles law firms, in contrast, are still standing. It asked a couple legal consultants why.
Ron Beard, a former chairman of Gibson, Dunn & Crutcher now with the Zeughauser Group, said the largest Los Angeles firms “got to New York earlier and D.C. as well.” Former Thelen chairman Richard Gary, now with Gary Advisors, agreed with that assessment, and told the blog that the firms’ strong litigation practices likely made expansion easier.
Legal Pad offered another theory. It says Los Angeles law firms were hit harder by the 1990-91 recession than San Francisco firms, forcing them to take steps to make themselves stronger.
