Blank Rome Names New Chairman as Co-Chairman Retires
When Girard-diCarlo took over as managing partner in 1987, Blank Rome was largely a Philadelphia regional firm with $44 million in revenue. In 2007, the firm had 492 attorneys, brought in $315 million in revenue and had expanded its presence to markets such as Washington, D.C., New York and Hong Kong.
Since Hoffman and Dyer stepped in, the firm has had its ups and downs, including shuttering its Hong Kong office, but has in recent years grown its revenue significantly and expanded its geographic reach to Houston, Los Angeles and Shanghai.
In 2009, the firm's revenue grew 3 percent from $312 million to $322 million.
In 2010, the firm's revenue dropped 3.4 percent from $322 million in 2009 to $311 million. The following year, the firm's revenue dropped by just half of 1 percent to $309.5 million.
But 2012 saw the firm surge forward in a big way, posting a 6.3 percent growth in revenue, from $309.5 million to $329 million.
Hoffman told The Legal on Wednesday that one of the firm's main goals is to provide legal services to its clients as efficiently as possible.
"As we go forward in the legal market today, the firms that are going to be the most successful will be the ones that can deliver the most value to their clients," Hoffman said.
To do that, Hoffman said, Blank Rome will continue to look for ways to manage its costs, primarily by reducing the size of its office spaces.
According to Hoffman, the firm recently took out a 10-year lease on new space in Los Angeles, which its attorneys moved into earlier this month.
Hoffman said the firm currently has about 30 attorneys in Los Angeles and has leased 25,000 square feet of space to accommodate up to 50 lawyers, which would result in 500 square feet of space per attorney.