Managing Partner David Antzis quoted in American Lawyer article, “Expense Report”
Managing Partner David S. Antzis discusses the state of law firm finances in this article that compares financial gains and losses of The Am Law 100 and Am Law 200 firms.
He said clients indirectly contribute to lower leverage for the Am Law 200 by requesting that senior lawyers handle their matters. He also said Second Hundred firms have lower leverage than the Am Law 100 firms because the bigger firms often have huge deals and cases that require scores of associates. He also discussed the trend of Second Hundred firms picking up lawyers from Am Law 100 firms, noting that Saul Ewing has recently hired several lateral partners who left Am Law 100 firms.
"Lots of lawyers don't have practices that can support $700-plus rates," David said. “Partners are gravitating toward smaller firms where they can receive some rate relief. It’s an enormous recruitment opportunity for us.”