April 12, 2004, New York City, NY – LAWFUEL – The Law News Network – Reed Smith LLP, a top 25 global law firm, has named David M. Grimes as Managing Partner of its New York City office, effective immediately.
“Reed Smith is poised for enormous growth and we’re pleased to have David at the helm of the firm’s expansion efforts in New York City,” said Greg Jordan, firmwide managing partner. “He is a dynamic, committed leader who will help us attract and develop the quality laterals we need to continue to expand while maintaining our very high standards of client service.”
A 1987 graduate of Emory University School of Law, Mr. Grimes’ background includes 15 years of client representation in general corporate transactions, mergers and acquisitions, commercial lending transactions, private equity investments, and corporate restructurings, as well as considerable cross-border work.
“Reed Smith is in a phenomenal position nationally and internationally,” said Mr. Grimes. “Our total firm revenue has increased 139% since 2000, and we’ve had a per partner profit increase of 110% and a firm revenue per lawyer increase of 47% in the same period, which is the best four-year growth trend among major law firms. At the same time, we successfully established operations in California where the firm has more than 200 lawyers in 4 offices and in the UK where there are over 100 lawyers in London and The Midlands. This week Reed Smith is opening its first office on the continent in Munich, Germany and the firm has experienced organic growth in virtually every other market. Five years from now, we will be among the largest firms in the world with operations throughout the US, Europe and Asia, serving leading businesses in their most significant matters. It’s a great time to be associated with this Reed Smith and I’m confident the best years lie ahead.”
Established in 1877, Reed Smith presently represents large listed companies as well as mid-market and emerging companies. Clients include financial institutions, private equity and hedge funds, technology companies and innovators, pharmaceutical companies, health care providers and insurers, communications companies, manufacturers, universities, real estate developers, and municipalities on both sides of the Atlantic. The firm counts among its current clients:
§ 42 of the top 50 US banks
§ 26 of the Fortune E-50 companies
§ 9 of the top 10 pharmaceutical companies
§ 50 of the world’s leading drug and device manufacturers
§ 60% of the Fortune 500 companies
In addition to his legal degree from Emory University, Mr. Grimes earned a Master’s degree from the London School of Economics and Political Science and a Bachelor’s Degree from The College of William & Mary in economics. He speaks and writes French fluently and has a baccalaureat degree from a French lycée.
Mr. Grimes takes over his duties from former NYC market managing partner Jonathan Young who now will focus his attention on his busy financial services litigation practice.
Reed Smith LLP, a top-25 international law firm with 1,000 lawyers located in 14 U.S. and two U.K. cities, represents Fortune 100 as well as mid-market and emerging companies. Clients include financial services firms, life sciences companies, health care providers and insurers, technology companies and entrepreneurs, power generators and suppliers, manufacturers, universities, non-profit organizations, real estate developers, and municipalities throughout the United States and in 40 countries. For more information, visit www.reedsmith.com.