A Midsize Firm's Growth Dilemma

Bell, Boyd & Lloyd, a midsize, Chicago-rooted law firm, is losing groups of attorneys as it grapples with the question of how to expand in a megafirm market. The departures grew partly out of disenchantment with the 260-attorney firm's approach to growth under a management team that so far has sidestepped a merger, say some former Bell Boyd attorneys. "We should grow. The question is: Do you grow by merger, or do you grow by bringing groups in?" asks Chairman John McCarthy.

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