Jordan Leaving Reed Smith to Serve as PNC General Counsel
Thomas said he will be focused on how the firm can most efficiently and effectively deliver legal services — much of which he said the firm is already doing. Thomas noted pricing and staffing as two ways the firm can focus on efficiency. He said Reed Smith has increasingly used staff attorneys and he thinks that should continue.
The growth Reed Smith saw under Jordan's tenure would be a difficult thing to replicate in this climate, Thomas acknowledged, but he said the firm is closely monitoring where its clients need it to be. He said he wants to grow more in Europe and will look to grow in markets that could support the firm's energy practice, such as Canada and Australia.
When Jordan took office in 2001, Reed Smith had about 700 attorneys, around $300 million in revenue and had just finalized its combination with U.K. law firm Warner Cranston, establishing the firm's first office abroad. Last year, Reed Smith crossed the billion-dollar revenue mark for the first time and has more than 1,800 attorneys across 25 offices.
Under his leadership, Reed Smith has entered into a number of substantial mergers, expanding the firm's footprint into London, Asia and the Middle East. Reed Smith also opened a Global Customer Centre in Pittsburgh to house its back office operations and provide around-the-clock client support. And aside from the financial services industry group, Reed Smith has also grown its energy and life sciences industry groups under Jordan's leadership.