Reed Smith's new global managing partner, Casey Ryan, plans to leverage her eight years of experience overseeing hiring to expand the firm's presence into new markets. Although Ryan did not disclose which cities the firm is considering in an interview, she emphasized that they will focus on building the skillsets and expertise that their clients require. Ryan takes over from Alexander "Sandy" Thomas, who stepped down mid-term to become the chief legal officer at Kids in Need of Defense. Under Thomas' leadership, the firm achieved over $1.4 billion in revenue and more than $1.7 million in profits per equity partner in 2021. Reed Smith's executive committee selected Ryan as Thomas' successor, and she will hold the position until 2025 when the firm's next leadership election is scheduled. Ryan, who joined the firm in 1996 and served as the global head of legal personnel, expressed gratitude and motivation in taking on the role.
According to Casey Ryan, Reed Smith's new global managing partner, the firm will continue focusing on five industry groups: energy and natural resources, entertainment and media, financial services, life sciences and health care, and transportation. The firm's hiring efforts will also concentrate on "key verticals," such as private equity, technology, and data. Reed Smith has not considered layoffs, Ryan said, unlike many other law firms that have had to downsize after expanding their payrolls during the pandemic-fueled boom in deals work. The firm has held up well in terms of demand, she added. Reed Smith recently launched a new associate training program, Associate Advantage, designed to expedite the professional development of young lawyers in their first three years with the firm. The program, which allows associates to transfer offices, take language classes, and learn about law firm economics and client work, was rolled out in response to the pandemic-related changes that had the most significant impact on new associates, Ryan said. The firm has also invested heavily in technology products and innovative legal service delivery businesses. Ryan emphasized the importance of staying ahead of the curve regarding legal service delivery technology. Although the firm has no strict return-to-work policy, it expects lawyers to be present in the office "more often than not."