Fox Rothschild’s growth spurt breaks all the rules : Is it their blogs?
LexBlog Client Fox Rothschild is featured in the latest edition of American Lawyer for a growth spurt that’s breaking all the rules. Amy Kolz reports:
Fox Rothschild is on a quiet march across the country with a business model that defies conventional wisdom. The firm wants to be a one-stop shop for the middle market, providing clients with a range of legal services at a reasonable price. So while other Am Law 200 firms frantically cull practice areas to increase profitability, Fox is collecting them.
In the last four years, Fox has added seven new practice areas — including gaming, franchising, biotech and premises security — to bring its total to 40. It has picked up big-firm refugees practicing in such areas as immigration, environmental law and real estate; and it has gambled on opportunities, like Goldman’s fledgling art recovery practice, that may be outside the typical definition of ‘full-service.’
Over the past five years the firm has almost doubled in gross revenue and head count, growing from 201 to 395 lawyers, and has improved its revenue per lawyer by almost 20 percent, to $483,000. It’s opened seven new offices, three of which are out West — a big move for a 100-year-old firm that a mere six years ago had a ‘one-hour drive’ rule when adding an office. ‘What [we] have tried to do,’ says co-chair Phillip Griffin, a corporate partner, ‘is to make it so that there is nothing that you should have to go somewhere else to find.’ Adds litigator [and co-chair] Abraham Reich: ‘To stand still is to move backward.’
I’m not to foolish enough to believe that the four existing Fox Rothschild practice area blogs gave rise to this growth. However, innovation and blogs go hand in hand. It’s the firm’s innovation that’s driving success.
The Fox Rothschild blogs?
- Pennsylvania Family Law Blog
- Physician Law Blog
- Tax Litigation Blog
- Delaware Corporate and Commercial Litigation Blog
Could there be more coming?