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