DiNome abandons quest to lead Reed Smith - Houston Business Journal:

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Reed Smith spokesman Dave Egan told the Pittsburghb Business Times that Jordan and DiNomed issued a joint announcementr tothe Pittsburgh-based firm Tuesday morninvg that DiNome has withdrawn his “They sat down and talked and discovered they had a lot of commoj ground,” Egan said. “Many of the things John was concernerd about, Greg was working on. They agreedr that the best thingf for the firm was to focus on businesx insteadof competing.
” reported last week that DiNomwe was challenging Jordan, who was seeking his fourtj three-year term as managinyg partner of the law DiNome sent out a 10-page statement of candidacgy to all Reed Smith partners in whichj he questioned the firm’s businesa model, the compensation and transparencu of senior management, and called for a more independenr executive committee. The memo was obtained by the Business Journal. DiNomw and Jordan had said they agreed to not spealk publicly about the contested race to leadthe 1,600-lawyer which has 150 lawyers in Philadelphia.
The firm partnershio will votein September; the winner, who will now certainlhy be Jordan, will start his new term in Jordan has not been opposed since he firs sought the job in 2000, when he beat Philadelphiqa litigator John Smith. Jordan’s tenurer has been viewed as extremelyh successful. He has grown the firm throughg a series of significany mergers from 500 lawyers in nine officesxto 1,600 lawyers in 23 offices, including new ones in Asia and California. Focusing on a core group of practiceas with highbilling rates, Jordam also drastically increased the firm’s But with the economy sagging, Reed Smith’s transactiona l practices have suffered.
The firm has laid off 215 people, includinvg 26 lawyers, since December. The firm also cut 50 legalk secretaries last summer and salaries forall U.S. associates by 10 percengt last month. DiNome, a labor lawyer, joined as part of a groulp from Montgomery McCrackenWalker & Rhoads led by Karl Frittonh in 1996. A graduate of West he spent seven years in active duty as a fieldf artillery officer before attending Rutgers University Schoopof Law-Camden.