Managing Partners on Practice Growth in 2015

practice growth

We sat down with several managing partners in Miami to discuss the legal landscape in 2015. Firstly, we wanted to know in which areas they anticipated growth. Secondly, we wanted to know what qualities these partners were looking for in new partners and lateral hires to fill any available positions. And, here is what they had to say.

There has been an uptick in business and commercial litigation which we anticipate will continue as a result of the ongoing improvement in the transactional markets. Additionally, our core product liability practice continues to do well. This includes an increase in class action matters across several industries. When looking for lateral partners, we look for lawyers with a proven track record and good client relations that fit well with our firm culture. We want thought leaders who possess a strong work ethic. It is especially important that our lawyers get along well with others. A good sense of humor comes in handy as well. We strive to ensure that our firm reflects the diversity of the business communities in which we work and serve.
– Francis H. “Frank” Sheppard, Rumberger, Kirk & Caldwell

At PBY&A, we are seeing a substantial increase in international transactions and associated international taxation issues. Both inbound and outbound transfers continue to rise in both frequency and size. While inbound still makes up the majority of our international work, with the dollar strengthening we have started to see an increase in outbound. We expect this trend to continue over the next few years, particularly in Europe and probably Asia. Of course, political and economic conditions in foreign countries always play a role in determining which types of transactions U.S.-based law firms encounter. For example, we are continuing to see substantial numbers of companies and high net worth individuals from Venezuela looking to make investments in the United States and/ or immigrate to the United States.

In planning for the future growth of our law firm, we make hiring decisions based on a variety of factors. Keeping a finger on the pulse of which practices and industry areas are seeing more activity is definitely an important consideration when we look to augment our team. And, like other responsible law firms, we value academics and experience as crucial to making the right hire. But at PBY&A, there is another important prerequisite that potential new lawyers must possess – the appropriate demeanor and attitude. I suppose that this is our X-factor. That is, we look for professionals that exhibit both confidence and humility in their practice. By confidence, I mean comfort in the belief that their experience and knowledge is appropriate and accurate for the specific needs of the client. And by humility, I mean the ability to listen to and take direction from the client even when they may have a different idea or tactic in mind. Our goal is to be knowledgeable and trusted advisors to our clients, and we accomplish this by hiring experienced and smart lawyers who exhibit tact and grace in their professional interactions.
– Edward T. Yevoli, Perlman, Bajandas, Yevoli & Albright, P.L.

All you need to do is look at our evolving skyline to determine that real estate, construction and land-use attorneys are busier than ever. Those are areas that will continue to grow in 2015. Of course, all of that activity will eventually lead to complex business disputes. Therefore, we also expect our litigators to have a healthy year.

We look for attorneys who have strong reputations for excellence in the Miami legal community. It’s also important that they offer services that complement our existing client base. We are focused on delivering comprehensive services to our clients, which ultimately provides them with value.
– Kelly-Ann Cartwright, Holland & Knight