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Reed Smith

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Reed Smith LLP
Reed Smith
No. of offices26
No. of attorneys1,700+
Major practice areasLife Sciences & Health, Energy & Natural Resources, Financial, Entertainment & Media, Shipping & Transportation
RevenueIncrease $1.15 billion (2014) [1]
Profit per equity partnerIncrease $1.2 million (2014) [1]
Date founded1877 (Pittsburgh)
FounderPhilander Knox and James Hay Reed
Company typeLimited liability partnership
Websitewww.reedsmith.com

Reed Smith LLP is a global law firm, with more than 1,700 lawyers in 26 offices throughout the United States, Europe, the Middle East and Asia.[2] Its lawyers provide litigation and other dispute resolution services, deliver regulatory counsel, and execute strategic domestic and cross-border transactions.[3] Reed Smith is an advisor to industries including financial services, life sciences, health care, advertising, technology and media, shipping, energy and natural resources, real estate, manufacturing, and education.[3]

The firm counsels 13 of the world's 15 largest commercial and savings banks; 25 of the world's 35 largest oil and gas companies; and the world's three largest pharmaceutical distribution and wholesale companies. Reed Smith's shipping practice has been designated among the most preeminent in the world, and its advertising law practice is regarded as among the legal industry's finest.

In 2016, Reed Smith was listed by Law 360 as one of the Global 20 Firms, firms that have the biggest global presence and handled the largest, most groundbreaking international and cross-border matters.[4]

In 2014, revenues at Reed Smith reached a record breaking $1.15 billion. Profits per partner grew 6% to $1,200,000.00, while revenue per lawyer increased by 2% to $703,000.00.[5]

History

Reed Smith was founded in Pittsburgh in 1877 by Philander C. Knox and James H. Reed.[6] The two partners soon created a symbiotic relationship with the American industrial tycoon, Andrew Carnegie, the creator of U.S. Steel, the world's first billion-dollar corporation. Soon after, other large businesses such as, Heinz (company), Mellon and Frick joined the firm's client roster. In the 1880s, Edwin W. Smith and other partners joined the firm and in 1922 the firm adopted the name Reed Smith Shaw & McClay, a name that would stand until being shortened in 2000. During the New Deal era, Reed Smith established a securities practice and partner Ralph H. Demmler became chair of the Securities and Exchange Commission.[6]

Through 1970 to the present, the firm engaged in a series of strategic mergers & acquisitions, as well as new offices, to create one of the largest law firms in the world.

In the 1970s, Reed Smith domestically grew with new offices beyond Pittsburgh. It set up an office in Washington, DC and in 1989, merged with Beltway firm Pierson, Ball & Dowd, thereby obtaining a well-regarded health care practice. Reed Smith opened new offices in New York and New Jersey in the 1990s and acquired a leading Northern Virginia firm, Hazel & Thomas.

During the 2000s Reed Smith experienced rapid international growth, both organically and through mergers. Acquiring the UK law firm Warner Cranston turned Reed Smith transatlantic in 2001 and opened offices in Paris and Munich four years later. Domestically, it opened an office in Delaware and combined with a California law firm, Crosby, Heafey, Roach & May, which moved the firm to a rank among the 20 largest law firms.[6] In 2007 Reed Smith merged with UK law firm, Richards Butler, which added offices in France, Greece, the Middle East and Hong Kong one year later.[7]

Since 2009 their office has been located in Reed Smith Centre, a LEED-certified workspace that helped jumpstart the modernization of the City's "Fifth Avenue ," on the perimeter of Pittsburgh's Cultural District. More than 275 lawyers comprise the Pittsburgh office, making it the largest law office in the city and the largest Reed Smith office in the United States. Pittsburgh also is home to the firm's Global Customer Center, which provides service to Reed Smith's lawyers and offices around the world.

In 2016, Reed Smith entered into a formal alliance with Singapore firm Resource Law.[8]

Main practice areas

Reed Smith has five industry-focused groups: Energy & Natural Resources, Entertainment & Media, Financial Industry, Life Sciences Health Industry Group, and Shipping & Transportation. The main practice areas include:[9]

Template:Multicol

  • Advertising, Technology & Media
  • Antitrust & Competition
  • Bankruptcy & Commercial Restructuring
  • Construction and Engineering
  • Corporate & Securities
  • Education
  • Energy & Natural Resources
  • Environmental Law
  • Executive Compensation & Employee Benefits
  • Financial Services

Template:Multicol-break

  • Government Contracts & Grants
  • Government Investigations & White Collar Criminal Defense
  • Health Care
  • Hedge Funds
  • Information Technology, Privacy & Data Security
  • Insurance
  • Intellectual Property
  • International Arbitration
  • International Trade & National Security
  • Labor & Employment

Template:Multicol-break

  • Litigation & Dispute Resolution
  • Pensions
  • Public Policy & Infrastructure
  • State and Local Taxation
  • Product Liability
  • Real estate
  • Securities Litigation & Enforcement
  • Sovereign Wealth Funds
  • Sports Law
  • Shipping
  • Wealth Planning

Template:Multicol-end

Offices

As of January 2015, Reed Smith has 26 offices across three continents. London is the largest office with over 350 attorneys, while Pittsburgh is the founding office and with over 300 attorneys.[10][11] This makes it the largest Reed Smith office in the U.S. and the largest law office in Pittsburgh.[12]

As well as numerous offices, Reed Smith has the Global Customer Centre, also located in Pittsburgh, Pennsylvania. It houses Reed Smith's 24/7/365 firm-wide administrative operations, including the Network Operating Center, IT Help Desk and the Business Centre.[13]

Recognition

  • Legal Week's 2013 annual Client Satisfaction Report ranks Reed Smith #5 in the U.S. International firms category. We were especially recognized for the quality of our legal and commercial advice as well as personal/partner relationships. For the full report, please visit the Legal Week website.[14]
  • Reed Smith named Best Global Law Firm for Weather Risk, in the 2014 Environmental Finance Annual Market Rankings.[15]
  • Reed Smith ranked # 8 on the 2013 inaugural "Social Index" of Am Law 50 Firms in survey ranking use of social media technologies.[16]
  • Reed Smith advances eight spots on Acritas’ Sharplegal US Law Firm Brand Index 2014, earning recognition as a lTop 20 U.S. brand.[17]
  • Ranked 12th largest law firm by the National Law Journal in 2012.[citation needed]
  • Ranked 17th on Law360’s Global 20 Ranking in 2016.[18]
  • Ranked 19th among American law firms with the most gross revenue by AmLaw 100 in 2010.[19]
  • Ranked 1st out of 411 law firms by The BTI Client Relationship Scorecard for building and maintaining client relationships, June 2009.[20]
  • Ranked 2nd best law firm for women by Am Law Daily.[21][when?]

Notable cases and transactions

  • Represented BNY Mellon to fend off a $539 million bondholder attack against the bank in the Argentina bond default litigation.[22]
  • Advised the UK's Civil Aviation Authority pension scheme on a buy-in worth over £1.6 billion with specialist insurer Rothesay Life.[23]
  • Represented Toyota Motor Credit Corp. in securing $15 billion in financing through a syndicated credit facility.[24]
  • Reed Smith successfully defended Nintendo against a number of patent disputes by Motion Games.[25]

Notable alumni

Individuals who have worked at Reed Smith include:

The firm is depicted in Laurence Leamer's book The Price of Justice.[26]

See also

References

  1. ^ a b "Reed Smith revenue rises 7 percent". Pittsburgh Post-Gazette. 4 March 2015. Retrieved 6 March 2015.
  2. ^ "Organizational Profile of Reed Smith at the National Law Review". The National Law Review. May 16, 2012.
  3. ^ a b Reed Smith Profile
  4. ^ http://www.law360.com/articles/807403/law360-reveals-the-global-20-firms-of-2016
  5. ^ "Reed Smith year-end financials show 7 per cent revenue boost to $1.15bn". The Lawyer. 4 March 2015. Retrieved 8 March 2015.
  6. ^ a b c "History". Reed Smith. 4 March 2015. Retrieved 6 March 2015.
  7. ^ "Reed Smith Richards Butler completes merger". The Lawyer. 2 January 2007. Retrieved 6 March 2015.
  8. ^ "Reed Smith seals alliance with Singapore firm Resource Law - The Lawyer | Legal News and Jobs | Advancing the business of law". 2016-07-18. Retrieved 2016-07-21.
  9. ^ "Learn About Our Practices & Industries". Reed Smith. 4 March 2014. Retrieved 10 March 2015.
  10. ^ "London". Reed Smith. 4 March 2014. Retrieved 10 March 2015.
  11. ^ "Pittsburgh". Reed Smith. 4 March 2014. Retrieved 10 March 2015.
  12. ^ "Top 10: Largest Pittsburgh-area law firms". Pittsburgh Business Times. 18 January 2013. Retrieved 10 March 2015.
  13. ^ "Global Customer Centre". Reed Smith. 4 March 2014. Retrieved 10 March 2015.
  14. ^ http://www.legalweek.com
  15. ^ http://www.environmental-finance.com/content/analysis/weather-and-catastrophe-risk-the-winds-of-change.html
  16. ^ http://abovethelaw.com/2014/01/the-social-law-firm-index-biglaws-new-media-mavens-2/#more-296346
  17. ^ http://www.acritas.com/SharplegalUSLawFirmBrandIndex2014
  18. ^ "Law360 Reveals The Global 20 Firms Of 2016".
  19. ^ "The Am Law 100 2010". ALM Legal Intelligence. 2010. Retrieved 10 April 2012.
  20. ^ "The BTI Client Relationship Scorecard: Ranking Law Firm-Client Relationships 2009, Executive summary" (PDF). BTI Consulting Group. 2009. Retrieved 10 April 2012.
  21. ^ Law Daily "Women in Leadership: A Complicated Census". 2013. Retrieved 12 January 2013. {{cite web}}: Check |url= value (help)
  22. ^ "BNY Doesn't Have To Turn Over $539M To Argentina Creditors".
  23. ^ "Rothesay Life completes £1.6bn buy-in with CAAPS".
  24. ^ "Reed Smith Advises Toyota Motor Credit Corporation in $15 Billion Financing".
  25. ^ "Fed. Circ. Backs Nintendo's PTAB Win On Game Patent".
  26. ^ http://www.post-gazette.com/stories/business/news/leamer-book-recounts-how-attorneys-tackled-wva-coal-campaigns-and-cash-687857/
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