Public Finance Blog

“Law firm mergers bring opportunities of all sorts.”

This may seem obvious, but the opportunities that can occur from the merger frenzy in the legal world are doing exactly that.  They are creating all types of opportunities for those lawyers who are being affected by mergers, positively or negatively.

Set The Stage

First, a story from a good friend of mine who happens to be the head of his public finance group.  I had heard about a year ago that his firm was going to be merged with another law firm right after the first of this year, 2025.  The merger did happen, and two medium-sized law firms became one larger firm.  When speaking to him, he shared that his firm was either going to acquire another firm or be acquired.  I asked him two questions.  How did you keep this quiet as you did not want your lawyers knowing that you are in talks?  Plus, how do you keep quiet enough for another law firm not to take competitive advantage of this knowledge with their issuer clients if they knew your firm was not going to exist anymore post-merger?  His response floored me.  He shared that his firm had been receiving unsolicited inquiries to acquire other medium-sized firms for quite a while, and at the same time, his firm was also targeted as potentially being acquired.

The Analysis

In other words, the merger frenzy among law firms is rampant.  The only firms that are being left alone, so to speak, are the smaller boutiques.  However, medium-sized firms have resolved this is the only way to proceed in the current marketplace: to grow, gather more headcount, open up new offices, and provide their clients with more services.  What does this mean to you, an attorney at one of these firms?  The opportunities of a merger can be both good or bad.  For some, the idea of a merger is a great move for their career. A larger firm equals more services to provide, but at the same time, it will have a new culture and hopefully one that is going to resonate.  Are there internal conflicts that will be raised? These are just some of the major questions that arise.

Is Your Future In Your Hands?

So, what are your choices? One is to go along with the merger, the other is to look for a new home once you see your firm is in talks with another law firm.  And THAT, my friends, is now what we are historically witnessing.  Individuals as well as practice groups are leaving once announcements are confirmed.  They are actively looking for a new home.  They are taking charge rather than just going along with the merger.  If you find yourself in this position, proactively reach out to a legal recruiter, preferably one who knows your niche of bond counsel thoroughly.  Don’t wait to be reactive; act now if you have any potential concerns about your upcoming merger.  Remember, you do have opportunities.

Conclusion

You don’t need a resume to chat with us! If you would like to discuss your options, please reach out for a confidential conversation at 760-477-1284 or email at harlan@hfriedmansearch.com. He can also be reached on LinkedIn. Harlan publishes a blog every Thursday here. Subscribe to our monthly newsletter here, which is a compilation of our weekly blogs, so you never miss one. We have also been mentioned in Forbes this year, click HERE to read more.  

About Harlan Friedman, JD & Founding Member, H. Friedman Search LLC. Harlan is a thirty-year veteran Public Finance Banker turned recruiter who specializes in the placement of all levels Public Finance Bankers, Healthcare Bankers, Municipal Advisors, Compliance Officers, Issuers, and Bond Counsels.