View from the Midsized Firm
David T. Brown, Chair of the firm's Management Committee, authored an article for the Chicago Daily Law Bulletin on how some midsized firms have found that emphasizing their commitment to independence has played a key role in both recruiting and business development in recent years.
The last 18 months have presented an unusual mix of dynamics leading to the resurgence of the midsized law firm. Despite predictions of their demise as recently as three years ago, many midsized firms today are thriving and even outperforming their "Big Law" counterparts. In this column, I will examine the reasons behind the success that many midsized firms are experiencing, and what needs to happen for the momentum to continue.
Long before the recession hit, midsized firms made their mark by providing senior-level talent—combined with an intense focus on client service—at more competitive rates than larger firms. What's more, midsized firms took a highly efficient approach to staffing matters in order to keep billings reasonable and clients happy. This model has long been the foundation of success for many midsized firms, and it has always attracted a significant number of loyal clients.