Firms Look Beyond U.S. Borders for New Clients

When traditional U.S.-based mid-market work leveled off, Pryor Cashman looked beyond national borders for new clients and began targeting companies in China - a market that is vibrant and growing. "We recruited Elizabeth Chen, a young attorney from China with an American law degree and the potential to develop business in her native country," says Ron Shechtman, the managing partner of New York-based, Pryor Cashman. "While we already handled finance work for a few China-based companies, Elizabeth enabled us to add significant value to what we were already offering. This market is very cost-conscious in terms of what they will spend on American legal services, and our reputation for lean staffing and exceptional value has resonated well." Since joining Pryor Cashman in September 2009, Elizabeth Chen - a thirty-one year-old spitfire - has landed six new corporate clients and has helped increased the number of transactions handled by the firm’s growing China practice. The addition of Chen speaks to the mid-size firm's unique ability to think outside the box and identify new growth practices that can flourish not only under the leadership of a seasoned attorney, but also with this new breed of associate that is ambitious and willing to leverage a unique skill set. In Elizabeth's case, her ability to speak to clients in her native Mandarin and understand the culture differences allows her to explain the nuances of the U.S. legal system to her cross-border clients with ease. In a short time she has become a trusted advisor and vital asset to the team.

Ron Shechtman and Elizabeth Chen are available for comment on the unique mid-size model that allows associates to thrive. [10/18/2010]