August 12, 2011 6:21 PM
Sedgwick Opens D.C. Office with 14 Lawyers from Wallace Partners
Posted by Dan Kaplan
Sedgwick announced plans Thursday to open an office in Washington, D.C.—its fifteenth location—with 14 lawyers hired from local firm Wallace Partners.
Sedgwick chair Michael Tanenbaum says that the new hires and office constitute neither a merger with, nor an acquisition of, Wallace Partners. At the same time, Tanenbaum says, the Wallace attorneys joining Sedgwick—managing partner Richard Wallace, five other partners, one counsel, and seven associates—are the last of that firm's lawyers.
The Wallace team moving to Sedgwick has experience in commercial, tort, product liability, and environmental cases and will focus mainly on trial litigation, and brings with it several unresolved matters from past Wallace Partners clients. "We'll effectively be combining resources from both firms on those cases," he says. "It's a great opportunity and a chance for an immediate synergy."
Sedgwick—which added its fourteenth office, in Seattle, in July—earned $193 million in gross revenue last year, a 1.5 percent decline from the $195 million it collected in 2009, and ranked number 139 on this year's Am Law 200. Profits per partner at the firm were $660,000 last year, a 1.1 percent dip from 2009's $675,000. With the addition of the Wallace lawyers, Sedgwick has 370 lawyers worldwide.
Meanwhile, another California-based firm is also expanding. Sheppard Mullin Richter & Hampton announced that it is opening a Beijing office, the firm's second in China, according to sibling publication The Recorder. (Sheppard Mullin opened a Shanghai office in 2007.) James Zimmerman, a former Beijing partner for Squire Sanders & Dempsey, will head the new office. Zimmerman will be joined by special counsel Sharon Xu, also from Squire Sanders.Make a comment