Print

Email story

Comment

Email editor

Holland and Knight trims its ranks

The law firm says its cuts merely reflect a reshaping of the company.

By Scott Barancik
Published November 15, 2006

While most large law firms were growing over the past year, local native Holland & Knight was shrinking.

The huge law firm trimmed 122 lawyers from its ranks during the 12 months ended Sept. 30, or 10 percent, to fall to 1,102. It was the fifth-largest decline among the country's 250 largest law firms and dropped Holland's rank three spots to 14th, according to a report by the National Law Journal. Overall, the top 250 grew by 4.1 percent.

Worried? On the contrary, Holland said:

- Many of the cuts were due to the firm's exit from U.S. markets where legal fees were below average or where Holland's offices were not well-established. Holland wants to focus on locales and practices that bear higher fees.

- By far the largest of Holland's cuts came among equity partners, who share ownership of the firm. Pushed by some of its biggest earners to act, the firm's leadership encouraged a number of underperforming equity partners to give up their shares or leave the firm. By Sept. 30, the number of equity partners at Holland had fallen an extraordinary 21.7 percent, from 424 to 332.

- Since Sept. 30, Holland has added back 70 lawyers, spokeswoman Susan Bass said in an e-mail.

"We continue to grow practices and make investments in markets where we see strong client demand for our high-value services," Bass said. "While the overall number of lawyers in the firm has fluctuated in the short term as a result of our focus on strategic priorities, our recruiting and investments in specific practices and lawyers are aligned with Holland & Knight's long-term strategic vision."

All of the other Florida law firms on this year's list added attorneys. Akerman Senterfitt went from 400 to 473, Carlton Fields from 225 to 242, Fowler White from 224 to 227, Ruden McCloskey from 192 to 203, and GrayRobinson from 183 to 190. Broad and Cassel, at 173 lawyers, was new to the list.

Florida's biggest gainer was Greenberg Traurig. The Miami law firm added 185 lawyers to reach 1,667, a 12.5 percent increase. It ranked eighth on the list of biggest firms.

Scott Barancik can be reached at barancik@sptimes.com or 727 893-8751.

[Last modified November 14, 2006, 23:52:17]