Deeb Blum Splits, Partners Join Anderson Kill, Shook Hardy
Frishberg said Deeb Blum's decision to join up with a larger firm was not the result of any financial difficulties.
In fact, given that the firm had initially been in the market to add lawyers before meeting with Anderson Kill, the situation "was just the opposite," Frishberg said.
In addition, Frishberg said his and his colleagues' move to Anderson Kill was technically a group lateral rather than a merger or acquisition because Anderson Kill will not be assuming any of Deeb Blum's liabilities or assets.
Ultimately, Frishberg said the group saw joining a bigger firm as a plus for their practices and their clients.
"We saw it as an opportunity to expand geographically and to expand our ability to offer a better range of corporate legal services to our clients," Frishberg said, adding that Deeb Blum has declined other offers to join larger firms over the years because it did not want to relinquish its identity as a boutique firm.
Frishberg said he and his colleagues expect to be able to maintain their "boutique arrangement" in Anderson Kill's Philadelphia office, where there are currently only three attorneys based full-time.
Like Deeb Blum, New York-based Anderson Kill has undergone significant changes within the past five-and-a-half years as well, beginning with Reed Smith acquiring 55 of its 120 attorneys in February 2008, forcing the closure of its four-attorney Chicago office and taking nine attorneys from its Philadelphia office.
In October 2009, Maryland-based Offit Kurman added six Anderson Kill attorneys to its Philadelphia office, reducing Anderson Kill's Philadelphia office to four lawyers.
D'Amore said the addition of the Deeb Blum lawyers will help Anderson Kill to expand its capabilities beyond the insurance work it had developed a reputation for.
"Anderson Kill has always been known for insurance work on behalf of insureds. With the lawyers they're getting, it gives them more diversity," D'Amore said, adding, "Coming off the heels of having lost the lawyers to Reed Smith, [the move] starts to give them some more bulk in Philadelphia."