Big Law firms have been turning their focus towards emerging markets, leading to an intriguing trend of elite firms permeating into developing markets. This can be seen in instances such as Kirkland & Ellis triggering a series of elite firms investing in Salt Lake City, and Holland & Knight burgeoning overnight to become Nashville’s largest law firm. According to Holland & Knight managing partner Steven Sonberg, these firms are establishing themselves not necessarily to cultivate a specific geographic community, but largely because partners are expressing a desire to reside in these developing areas. This tread may signal a shifting direction in law firm strategies.
To delve more into this topic, check out the detailed exploration of Big Law’s movement within developing markets at American Lawyer.