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Commentary: Merger Changes Dynamic Along Amtrak Northeast Corridor

On Oct. 31, Connecticut's Day, Berry & Howard and New Jersey's Pitney Hardin announced a merger that will create a new law firm of nearly 400 lawyers. This new firm will have a footprint that will stretch up the Amtrak Northeast Corridor from Washington, D.C., to Boston, with station stops in a number of interesting markets along the way.

The new firm's profile is likely to change the competitive dynamic for a number of Connecticut's indigenous law firms. For starters, the Northeast will get another 400-lawyer firm with lots of high-quality assets throughout the region. Not long ago, 200 lawyers was considered to be a safe bet for major companies looking to hire outside counsel. With the increasing consolidation of law firms, it looks like 400 lawyers is becoming the new test for a safe bet.

To be sure, the remaining indigenous firms will be able to hold onto longstanding client relationships without much trouble, but the battle for new in-bound business in the region is likely to intensify.

The corridor from the New York metropolitan area (New Jersey and Long Island included) through Connecticut up to Boston continues to be a market of growing potential for law firms.

Securities markets are finally rebounding, which is good news for New York City. The market rebound is also great news for the communities around New York, especially the hedge fund action in Fairfield County and other New York suburbs.

A rising market creates wealth. Here again, this is good news for estate planners in already wealthy markets, like Westchester County, Fairfield County, Long Island and northern New Jersey.

The Northeast's high-tech incubator seems to be back on track. That bodes well for venture capital and IP practices all through the region.

Litigation is also alive and well. The recent hiccup in the economy will continue to create commercial disputes, workouts and both offensive and defensive patent litigation. In addition, the creditors' rights practitioners are still quite busy working through the cases on their plates.

So, it would seem that a 400-lawyer law firm with solid practices in finance, private equity, litigation, IP, trusts and estates as well as other high-demand areas -- and with offices in the Boston and New York money centers -- is in really good shape. Surf the Day Berry and Pitney Hardin Web sites, and you'll get a pretty good idea as to how well Day Pitney is positioned by practice area.

How about the rest of Connecticut's "Amtrak players"? There's always a risk in creating a list of firms, and I am sure to have left out some key players. For purposes of this article, however, let's look at some of the usual suspects.

BINGHAM McCUTCHEN

It's spread well beyond Connecticut and the Northeast. That said, with about 550 lawyers in fairly large concentrations in Washington, D.C. (150), New York (100), Hartford, Conn. (60) and its home base of Boston (240), Bingham McCutchen's allocation of strategic assets in key markets is impressive. The same is true for Bingham's other strategic presences on the West Coast and in Europe and Asia. As an Amtrak player, however, there are gaps south of New York.

EDWARDS ANGELL PALMER & DODGE

Edwards Angell Palmer & Dodge is the next biggest Amtrak presence, with 480 lawyers along the corridor. Heavily weighted toward Boston and Providence, R.I., (330 lawyers), Edwards Angell has a decent-sized New York office (75) and about 50 lawyers in Connecticut -- Stamford being the larger of its two Connecticut offices. Still, like Bingham, Edwards Angell is "light" south of New York.

NIXON PEABODY

With about 425 lawyers deployed along the Amtrak Northeast Corridor, Nixon Peabody is notable in that it has no significant presence in Connecticut. Boston (155), New York metro (145) and Washington (110) are Nixon's largest concentrations. Many have been waiting to see whether Nixon will take the plunge and acquire a substantial Connecticut practice to round out a footprint that stretches from Washington up into northern New England and from Boston to Buffalo, N.Y., not to mention some significant offices outside the corridor.

McCARTER & ENGLISH

With 410 lawyers, McCarter & English has made no secret of its aim to create a strong Amtrak practice. In fact, all of its lawyers are arrayed throughout the Northeast Corridor. With McCarter & English's recent venture into Boston (60), the firm has maintained its largest concentration in Newark, N.J. (220). McCarter & English has 50 lawyers in Connecticut (40 in Hartford and 10 in Stamford). South of Newark may be the next growth target. Given its hub in Newark, it is noteworthy that most of its lawyers are within a reasonable train ride from home base, thus making it easier to serve clients throughout the region from a large principal office.

Day Pitney, at about 405 lawyers, lines up very nicely. Fifty lawyers in Boston, over 100 in central Connecticut, 50 more lawyers in Fairfield County, 45 in New York City and about 140 in New Jersey all combine for a balanced footprint. Look for big things from this newest Amtrak player.

Peter A. Giuliani is a Westport, Conn.-based legal management consultant with Smock Sterling Strategic Management Consultants.

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