New Jersey-based law firm Lowenstein Sandler has announced plans to significantly expand its workforce, aiming to double its headcount to 700 lawyers within three to five years. This strategy forms part of a broader effort to enhance productivity and capitalize on technological advancements in the legal sector, particularly the incorporation of generative AI. Gary Wingens, the firm’s chairman and managing partner, articulated the firm’s vision in an interview, stating, “We know who we are. We know who we want to be.” Wingens emphasized that while the firm does not aspire to have 2,000 lawyers, maintaining growth and efficiency remains a priority.
Lowenstein Sandler plans to target its growth in specialized sectors, such as private investment funds, technology, and life sciences, which already constitute approximately 75% of its revenue. The firm’s strategy includes bolstering its capabilities in litigation and bankruptcy, primarily through individual and group hires and possibly acquiring smaller firms, rather than large-scale mergers. Wingens is optimistic about the potential for AI-driven productivity, projecting that a firm of 500 lawyers by the end of the decade could achieve the output of a firm three or four times larger today.
Michael Caplan, who joined as the chief operations officer in March, is set to play a pivotal role in this expansion. Caplan previously served as COO for Goodwin Procter, where he helped the Boston-based firm grow from 750 to 1,600 lawyers and significantly increase its gross revenue. He stressed the importance of maintaining a strong firm culture and clearly communicating growth goals to both lawyers and staff.
The firm’s expansion is already underway, with notable hires including Daniel Besikof from Loeb & Loeb, David Posner and Gianfranco Finizio from Kilpatrick Townsend & Stockton, and Maureen Naughton as the chief innovation officer. Lowenstein Sandler also recently brought on Jared Kaplan as chief information officer from Teneo Holdings LLC and is in the process of recruiting a new chief marketing officer.
Lowenstein Sandler’s growth strategy is also closely tied to leveraging technological advancements. The firm is currently testing AI tools for various applications, including document review, drafting, and diligence. Earlier this year, it launched Lowenstein AI Chatbot, a generative AI product designed to assist website visitors. Wingens emphasized that AI is not just a competitive advantage but a “competitive imperative” for the firm, stating, “I’d rather be the firm that’s growing into that than the one that has to shrink into that” (Bloomberg Law).