Lateral movement of lawyers witnessed in a small US city
K&L Gates opens floodgates for lateral movement by securing services of 18 partners from four law firms in Tennesse capital Nashville
Nashville, the capital city of the Tennessee state, could be ranked as the 23rd most populous city of the United States and is known more for its booming healthcare sector. However, its relatively smaller population compared to other major US cities is no deterrent for global legal firms trying to establish their presence in the city in a big way.
K&L Gates has virtually opened the floodgates for largescale hiring by engineering a massive lateral movement of lawyers in the city by securing services of 18 partners from Nashville's four leading law firms.
K&L Gates is rated in the Top 20 legal firms in the US. Nashville would be its 24th branch in the country which would target healthcare, tech and investment sectors of the Tennessee state.
The new hires bring with them specialization in varies sectors like healthcare, litigation, corporate, intellectual property, finance and construction. The firm has said that keeping in the growing potential of the state, it would look to further expand its range of services in the coming months.
Nashville's largest firm Waller has witnessed four of its partners moving over to K&L Gates, Nashville second-largest law firm Bass Berry & Sims has lost one partner, while at the city's fifth-largest firm Butler Snow has suffered the loss of nine partners. Four partners from Detroit-based Dickinson Wright's Nashville arm are also leaving it for K&L Gates.
K&L Gates' with its recent hirings has evoked interest in the city which was by and large ignored by the national and international US law firms.
Jim Segerdahl, K&L Gates' global managing partner justified their decision to land up in Nashville with a big bang saying the firm had many clients with deep connections to Nashville.
Craig Budner, K&L Gates' global strategic growth partner, expressed confidence of the firm saying the firm's "ability to recruit such a prominent and varied group of partners demonstrates the enthusiasm of lawyers and clients in the region for the presence of a fully integrated global law firm".
For K&L Gates, opening its new arm in Nashville was a considered decision taken after doing some homework. The firm's research wing had suggested that Nashville has strong potential in technology, finance, construction, manufacturing and related industries.