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Fight over Fowler White's name is settled amicably
September 24, 2008
MIAMI — The split-up of the venerable Tampa, Fla., firm Fowler White Boggs Banker is nearly complete, with the fight over the law firm name resolved amicably and without litigation.
Under an agreement expected to be signed soon, the original firm will keep the name Fowler White Boggs while the new trial lawyer spin-off boutique will take a new name Banker Lopez Gassler.
In a surprise move last month, the 65-year-old law firm announced that its trial lawyers — who do a considerable amount of insurance defense work — were splitting from the firm. Both sides said the split was amicable and related to the fact that the two different practices were no longer compatible. While the 550-employee firm started as an insurance defense firm, it had in recent years focused on its more lucrative commercial transactional practice.
The only point of contention for the two sides was who would keep the name, which is well-known in Florida. Name partners E. Jackson Boggs and Bob Banker would now be in different firms.
But that issue, too, has been resolved civilly. Banker told The National Law Journal on Tuesday that his new "large trial lawyer boutique" will be called Banker Lopez Gassler, named after himself and two 30-year partners, Joseph Lopez and Frank Gassler. The new firm, which will also be based in Tampa, has 60 lawyers.
The larger firm, with 135 lawyers, will now be known as Fowler White Boggs.
Banker said he wanted to keep the Fowler White name but had no choice but to let it go. "If it came to a vote, they have more votes than us," he said. "More people are staying behind than leaving."
As a concession, Fowler White Boggs agreed that if it ever changes its name or merges with another firm, the name would revert to Banker Lopez Gassler.
"It's better than nothing," Banker remarked.
The terms of the split — which has not yet been signed — mandate that neither side can compete with each other for clients, which should not be a problem since their practices are vastly different, Banker said. It also calls for Fowler White to buy up all its former partners' shares.
Banker, managing partner of the new firm, has incorporated it and obtained a "sizable" line of credit.
Demonstrating how amicable the split is, Banker Lopez Gassler will remain in the same building as Fowler White in Tampa, occupying two whole floors. The Banker firm took over the joint St. Petersburg, Fla., office space and rented new office space in other Florida cities: Fort Lauderdale, Fort Myers and Tallahassee.
Fowler White retains its offices in Tampa, Jacksonville, Fort Myers, Orlando and Fort Lauderdale. Rhea Law will remain as managing partner of that firm.
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