Dickstein Shapiro says departures make it more focused
Dickstein Shapiro saw a 20 percent drop in revenue and a 35 percent drop in profits in 2013, and saw dozens of lawyers and staff leave the firm to take up employment elsewhere. The firm has shrunk by about 40 percent in the last five years, from 360 to 225 lawyers. comments powered by Disqus
But according to Jim Kelly, Dickstein’s chairman, these figures are not cause for alarm, and this shrinkage is simply a process of adjustment to the new realities of law:
“Central to Dickstein’s strategy is to be a more-focused, specialized firm rather than a global full-service legal behemoth. Its sweet spot is in insurance coverage — typically representing corporations suing insurance companies over contested claims. It also offers expertise in antitrust litigation, intellectual property, government law and strategy, and a niche practice representing companies being investigated or sued by state attorneys general offices.
“We aren’t going to be everything to everyone,” Kelly said. “We recognize that different practices have different competitive and strategic profiles, and we permit each of those practice groups to have some flexibility in how they’re going to deliver value to their clients, which is a significant departure from how law firms have been historically managed.”