Anderson Kill & Olick, one of the higher-profile insurance recovery law firms, is closing its Chicago office and losing more than 55 of its attorneys to the giant global law firm Reed Smith.

Among the attorneys announced as making the move are Lawrence Kill, a partner and co-chair of its antitrust/unfair competition group, and Jeffrey L. Glatzer, the firm-wide president and chief executive officer.

Anderson Kill said in a statement that the exodus of lawyers, which includes 26 of 69 partners or "shareholders," is an "amicable departure" and 77 lawyers would remain with the firm.

"We recently held merger discussions with Reed Smith. We terminated the discussions because of conflicts of interest issues," said Robert Horkovich, Executive Committee member and chair of Anderson Kill's insurance recovery group.

Mr. Horkovich said that "in a rare departure from how these changes usually occur, Anderson Kill and Reed Smith are cooperating on this change and are coordinating the transition."

For the moment, most of the exiting group will not be leaving the building. Reed Smith said the largest group of attorneys, who will join Reed Smith's New York office, for an interim period, will remain on one floor of Anderson Kill's Avenue of the Americas office, which Reed Smith will sublease.

Once Reed Smith completes the build-out of its current office space at 599 Lexington Ave., the firm said all lawyers and staff will move to that location.

In addition to New York, Reed Smith has 12 offices in the U.S. and 13 in Europe and Asia. The firm has 1,600 lawyers.

In addition to Reed Smith's New York office, two partners and seven associates will be added to its Philadelphia office; and another two partners and one associate to its Chicago office.

Anderson is closing its four-attorney Chicago office and will continue to have offices in New York, Philadelphia, Newark, Washington, D.C. and Greenwich, Conn.

Attorneys joining Reed Smith will primarily become part of three practice groups--insurance recovery, bankruptcy and restructuring and commercial litigation, Reed Smith said.

As a result of the shift, Anderson said it has restructured its lead practice areas to focus the firm's efforts on its core insurance recovery practice, along with other practices in corporate and securities, litigation, real estate and construction, tax, trusts and estates, bankruptcy and restructuring, and intellectual property.

The law firm's statement said that its merger discussions with Reed Smith gave Anderson Kill an opportunity to consider moving to a larger platform, but that "the substantial majority of shareholders decided that such a move was not best for Anderson Kill or its clients."

Bradford Hildebrandt, chairman of Hildebrandt International said, "This is truly a unique situation. The change will help both firms. Anderson Kill will be able to refocus on its insurance recovery practice. Reed Smith is able to add attorneys to its core practices who will benefit from the larger platform."

Gregory B. Jordan, Reed Smith's Global Managing Partner, said the attorneys joining the firm "are high-performing individuals whose practice interests and clients are compatible with our firm's existing platform, as well as with our long-term strategic plans for future growth.

Eugene R. Anderson, founder and lead name partner of the firm said, "Anderson Kill shall move forward as the leading insurance recovery firm in the world. And we shall move forward in our other core practices."

Anderson Kill said attorneys staying with the firm note a number of advantages. The firm said these include "no insurance company conflicts," and more personalized service than larger firms.

The firm said "numerous" clients previously serviced by departing attorneys have expressed a desire to continue with Anderson Kill. Mr. Horkovich said the restructured Anderson Kill is financially strong, having invested heavily in the firm for the future and having eliminated all debt.

Special Reports /

55 Anderson Kill & Olick Attorneys To Join Reed Smith

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