Satterlee Stephens has served financial industry clients in New York for over 100 years without ever feeling the need to get too big. But the firm’s expertise may finally lead the 65-attorney stalwart into a new arrangement on a much bigger stage.
Duane Morris, the 800+ attorney Philadelphia-based global firm is in tie-up talks with Satterlee in a bid that could bolster the Am Law 100 firm’s New York presence by bringing Satterlee’s small but highly profitable business under the Duane Morris umbrella.
This is the point where we remind everyone that regardless of how “advanced” merger talks are, nothing is over until it’s over. Still, given the geographic overlap of the two firms — Duane Morris already has 100 lawyers in the city — the mere fact that the firms are pushing ahead with talks suggests they’ve already decided the client overlap is minimal at most.
We’ll keep an eye on this one.
Duane Morris, Satterlee Stephens in Advanced Tie-Up Talks [New York Law Journal]
Joe Patrice is a senior editor at Above the Law and co-host of Thinking Like A Lawyer. Feel free to email any tips, questions, or comments. Follow him on Twitter if you’re interested in law, politics, and a healthy dose of college sports news. Joe also serves as a Managing Director at RPN Executive Search.
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