New York is no longer big enough to keep its elite law firms in the manner to which they have become accustomed. As the richest law firms in the world, for years they have luxuriated in Manhattan with the business world at their feet. But times are changing.
Most elite firms can no longer rely on entrenched corporate client relationships and excellent service to maintain their standing. They have accepted that they need to branch out beyond Manhattan, and in doing so the New York model of the leading law firm is being recreated.
