In recent years, growing movements of legal giants known as Big Law into developing markets have been recorded. Notorious firms such as Kirkland & Ellis have spearheaded these forays, igniting a trend of major lawyers branching into embryonic arenas like Salt Lake City, with other firms quickly following suit. One notable example is Holland & Knight, which promptly established itself as the dominant legal entity in Nashville.
Recent activities in these emerging markets reveal that such moves are not strictly based on strategic growth intentions or the desire to tap into a unique geographic community. Interestingly, it appears that choices of these new turfs are largely dictated by the personal preference of partners in terms of where they aspire to reside.
Holland & Knight managing partner, Steven Sonberg, was quoted saying that the geographical decisions made by firms aren’t always because they desire to tap into a specific locale, but rather because partners fancy residing there. This personal inclination, combined with the opportunity to pioneer and shape nascent markets, presents an irresistible proposition to these titans of the law industry, ushering an intriguing phase in the evolution of legal professions globally or possibly shaping a new norm.