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

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Reed Smith spokesman Dave Egan told the Pittsburgh Business Timed that Jordan and DiNome issued a jointg announcement tothe Pittsburgh-based firm Tuesday morning that DiNomre has withdrawn his candidacy. “They sat down and talkee and discovered they had a lot ofcommomn ground,” Egan said. “Many of the thingsw John was concerned about, Greg was workingt on. They agreed that the best thintg for the firm was to focus on business insteaeof competing.
” reported last week that DiNomr was challenging Jordan, who was seeking his fourtu three-year term as managing partner of the law DiNome sent out a 10-page statementr of candidacy to all Reed Smith partners in whicu he questioned the firm’s business model, the compensation and transparency of senior and called for a more independentr executive committee. The memo was obtained by the Business Journal. DiNome and Jordan had said they agreed to not speamk publicly about the contested race to leadthe 1,600-lawyer which has 150 lawyers in Philadelphia.
The firm partnershipl will votein September; the who will now certainly be Jordan, will start his new term in Jordan has not been opposed since he firstt sought the job in when he beat Philadelphia litigator John Jordan’s tenure has been viewed as extremelyt successful. He has grown the firm through a seriees of significant mergers from 500 lawyers in nine officeseto 1,600 lawyers in 23 including new ones in Europe, Asia and Focusing on a core groupl of practices with high billingv rates, Jordan also drastically increased the firm’ss profitability.
But with the econom sagging, Reed Smith’s transactional practices have The firm has laid off215 people, including 26 since December. The firm also cut 50 lega l secretaries last summer and salaries forall U.S. associates by 10 percengt last month. DiNome, a labor lawyer, joined as part of a groul from Montgomery McCracken Walker Rhoads led by Karl Frittonin 1996. A graduat e of West Point, he spent seven yearsd in active duty as a field artillergy officer before attending Rutgers University Schooloof Law-Camden.