To our Clients and Friends:
Several years ago, Powell Goldstein adopted a Strategic Plan strongly supported by our Financial Institutions Group to grow by acquisition or merger. For our group, the objective was to have lawyers on the ground closer to many of our clients outside the immediate Southeast and to have a broader offering of services for our clients. We have been fortunate to have had the opportunity to assess a number of alternatives in this process, but, until now, we had not found the right fit. Now we have, and our Financial Institutions Group is very excited about how well the fit works for us.
See the Press Release below announcing the combination of Powell Goldstein and Bryan Cave. We wanted to supplement the Press Release to tell you how this will and will not impact our Financial Institutions Group and our clients.
For us, Bryan Cave provides additional offices in the United States in Chicago, Irvine, Jefferson City, Kansas City, Los Angeles, New York, Phoenix, San Francisco, St. Louis and Southern Illinois, which we did not have before, to go with our existing offices in Atlanta, Charlotte, Dallas and Washington, DC (where Bryan Cave also has a strong office). Plus, Bryan Cave has seven offices overseas, which we think may prove to be useful to customers of our bank clients. This expanded geographic access supports our current national reach — as we like to say, “Community Based, Nationally Recognized.”
In addition to the increased geographic scope, Bryan Cave has a great complement of Banking and Financial Services lawyers, with whom we are already working. This satisfies our second expansion objective of providing broader services to our clients.
In the end, however, this would not have happened unless we were convinced that the combination would produce a good cultural fit, and we are. In talking and working with our Bryan Cave counterparts, one cultural imperative became clear: The Client Comes First! For our Financial Institutions Group and Powell Goldstein as a whole, this has always been the case and was essential to the combination. We’re convinced that your client experience with us will become even better as a result.
While there will undoubtedly be some changes, our Financial Institutions Group will remain intact and Walt and Kathryn will continue to be its co-leaders. There are no billing rate changes contemplated, since Bryan Cave’s rates are in line with ours. In Atlanta, our name will initially be “Bryan Cave Powell Goldstein,” and apart from our changed letterhead, you should see no visible signs of change, other than for the better!
Thank you for your support in the past and going forward, and do not hesitate to call any of us if you have any questions.
The Financial Institutions Group
POWELL GOLDSTEIN JOINS FORCES WITH BRYAN CAVE LLP
— Gains Global Presence –
ATLANTA, Ga. – November 3, 2008 – Powell Goldstein LLP (www.pogolaw.com) and the international law firm Bryan Cave LLP (www.bryancave.com) will combine, effective January 1, 2009. The combined firm will be globally known as Bryan Cave LLP while the Atlanta office will do business under the name of Bryan Cave Powell Goldstein. The firm will have more than 1,200 attorneys and other professionals in 25 offices around the globe. It is expected to rank among the 50 largest law firms in revenue.
Powell Goldstein currently serves clients from offices in Atlanta, Washington, D.C., Dallas and Charlotte.
“My partners and I are excited about the combination of our firm with Bryan Cave. Bryan Cave has both a strong national platform and an expanding international presence. The combination of the firms will provide our clients with a greater depth and range of services from a global platform,” said James J. McAlpin, Jr., chairman of Powell Goldstein. “The core cultures of Powell Goldstein and Bryan Cave are remarkably similar. Both firms have strong cultures of mutual support and respect and a commitment to client service. This combination represents the culmination of Powell Goldstein’s strategic plan to significantly increase the breadth and depth of services we provide to our clients, and to greatly expand our geographic platform.”
The combined firm will have a global network of legal professionals serving clients in cities such as New York, Los Angeles, London and Hong Kong. In addition, the firm will have an expanded presence in Washington, D.C., with nearly 125 professionals.
“We have enjoyed our long standing partnership with Powell Goldstein and are thrilled with the expanded capabilities a combination with Bryan Cave will create. As a global company, with operations in both the United States and Europe, we believe the Bryan Cave platform will facilitate our efforts as we work to continue to build our Neenah Paper businesses around the world,” said Steven S. Heinrichs, Senior Vice President, General Counsel and Secretary, Neenah Paper, Inc.
This follows other recent moves by Bryan Cave to expand its domestic and international reach, including new offices in Milan, Hamburg, San Francisco and Paris within the past 17 months.
“Bryan Cave is committed to being among the very best global law firms, and building strong and enduring relationships with our clients,” said Don G. Lents, chairman of Bryan Cave. “This combination expands our reach into key markets in the Southeast and in Texas through the addition of one of the most highly regarded firms in the region. It will enhance our ability to assist our clients in those markets, and deepens our resources in several important practice areas, such as services for financial institutions, as well as in capital markets and real estate finance.”
About Powell Goldstein LLP
Powell Goldstein LLP was established in 1909 and has more than 200 attorneys who provide legal counsel to clients in a wide variety of practices from offices in Atlanta, Washington, D.C., Dallas and Charlotte. The firm provides counsel on financial institution matters, real estate finance and related capital markets work, complex litigation, corporate transactions, government advocacy issues and tax credit legislation and programs.
About Bryan Cave LLP
Bryan Cave LLP has a diversified international legal practice. The firm represents a wide variety of business, financial, institutional and individual clients, including publicly held multinational corporations, large and mid-sized privately held companies, partnerships and emerging companies. Subsidiaries Bryan Cave International Trade and Bryan Cave Strategies LLC provide trade and customs consultancy and government relations and strategic counsel, respectively. Aided by extensive investments in technology, Bryan Cave’s more than 1,000 lawyers and other consulting professionals in 22 offices across the United States, the United Kingdom, Continental Europe and Asia efficiently serve clients’ needs in the world’s leading business and financial markets.
# # #
Bryan Cave LLP
Luis Mocete, 212-541-1141, firstname.lastname@example.org
Bennett Kleinberg, 212-576-2700, email@example.com
Powell Goldstein LLP
Erin Meszaros 1+404-572-6613, firstname.lastname@example.org