Founding Partner Scott Yaccarino offered Daily Business Review his insight into the factors law firms are weighing in determining whether to enter the burgeoning Miami legal market. Prominent Wall Street law firms have been closely monitoring the migration of first-rate clients and legal talent to South Florida. “If Kirkland & Ellis opens in Miami, you’re likely to see other firms follow,” said Scott. As law firm competition heats up in South Florida, top firms are expected to open local offices there to protect their business, in much the same way they were driven to do so in Silicon Valley. “If you’re an asset management firm in South Florida, I don’t think the perception is that you can hire a local lawyer who is every bit as good and plugged in to what you do as the folks in New York,” Scott said. “Whereas if I’m a Wall Street firm and I have some Big Tech clients in California who I’m trying to service from New York without a California office, I know that Northern California is filled with other peer-level partners and law firms who are knocking on that client’s door and trying to get their work.”
Check out the full article originally published on Daily Business Review: Wall Street Lawyers and New York Asset Managers Want to Be in Miami—What About Their Law Firms?