Matthew Schwartz has become the chairman of Boies Schiller Flexner, marking the end of a prolonged leadership transition that was riddled with challenges such as false starts, significant lawyer departures, and differing visions for the firm’s future. Schwartz, who has been with the firm since 2015, stated in a recent interview that although the transition period took longer than anticipated, the outcomes have ultimately been beneficial. “We are ultimately aligned about the type of firm we want to be with the people who are here,” he expressed, emphasizing the alignment now present among firm partners.
The firm has seen a nearly 50% reduction in its headcount since 2018, an outcome of lawyer departures as well as strategic restructuring. David Boies, the 84-year-old outgoing chairman, founded the firm in 1997 after leaving Cravath, Swaine & Moore, with a desire to establish a litigation-focused practice free from corporate conflicts. Contrary to some of its competitors like Quinn Emanuel and Susman Godfrey, Boies Schiller has faced challenges in maintaining revenue and profit per partner metrics, as reported by data from The American Lawyer. However, the firm has demonstrated resilience, securing significant victories in high-stakes litigation, including a large antitrust case against Blue Cross Blue Shield, resulting in a portion of $667 million in attorneys’ fees.
- Matthew Schwartz, a former Manhattan federal prosecutor and co-managing partner, was selected to lead the firm following David Boies’s disclosure of not seeking reelection.
- The firm’s leadership had seen several changes since 2018, with notable figures such as Karen Dunn, Nick Gravante, and Natasha Harrison departing the firm. These changes reflect shifting strategic priorities, with some former partners opting to focus on plaintiff-side work or pursue mergers.
With headcounts stabilizing around 150 lawyers, the firm appears to be moving towards a period of “modest organic growth” through increased associate recruitment and selective partner acquisitions. Recent successful litigation outcomes and associate bonuses that surpass Big Law’s scale illustrate Boies Schiller’s commitment to rewarding exceptional legal talent within the firm. The strategic focus remains firm on retaining its elite status in both plaintiff and defense work amidst high-stakes legal disputes.