Ed. note: Welcome to our daily feature, Quote of the Day.
Firms are paying more attention to how their bottom line is driven by their strategy, so they’re weeding out whatever doesn’t fit well into their core strategy.
— Peter Zeughauser, chair of the law firm consultancy Zeughauser Group, in comments given to Reuters, on why some firms have made the “calculated decisions” to leave U.S. markets while other firms are rushing in to open offices. In recent weeks, Morrison & Foerster announced that it will be leaving its brick-and-mortar Miami office, Armstrong Teasdale announced that it will be shuttering its Boston and Salt Lake City offices, and Dechert announced that it will be closing down its Chicago office.
Staci Zaretsky is a senior editor at Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on X/Twitter and Threads or connect with her on LinkedIn.
