DiNome abandons quest to lead Reed Smith - South Florida Business Journal:

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Reed Smith spokesman Dave Egan told the Pittsburgnh Business Times that Jordan and DiNome issued a joint announcement tothe Pittsburgh-based firm Tuesday morning that DiNome has withdrawn his candidacy. “The y sat down and talked and discoverexd they had a lot of common Egan said. “Many of the thingws John was concerned about, Greg was workinf on. They agreed that the best thing for the firm was to focux on business insteadof competing.” reported last week that DiNomes was challenging Jordan, who was seeking his fourth three-yeart term as managing partner of the law firm.
DiNome sent out a 10-pag e statement of candidacy to all Reed Smith partners in whicjh he questionedthe firm’s business model, the compensatioj and transparency of senior management, and callef for a more independent executive The memo was obtained by the Business DiNome and Jordan had said they agreef to not speak publicly about the contested race to lead the 1,600-lawyer firm, whicyh has 150 lawyers in Philadelphia. The firm partnershipp will votein September; the who will now certainly be will start his new term in Jordan has not been opposed since he firsty sought the job in 2000, when he beat Philadelphia litigatort John Smith.
Jordan’s tenure has been viewedd as extremely successful. He has grown the firm through a series of significant mergerds from 500 lawyers in nine officesto 1,600o lawyers in 23 offices, including new ones in Europe, Asia and Focusing on a core group of practicess with high billing rates, Jordan also drastically increasec the firm’s profitability. But with the economy Reed Smith’s transactional practices have suffered. The firm has laid off 215 including26 lawyers, since The firm also cut 50 legal secretariese last summer and salaries for all U.S. associates by 10 percent last month.
DiNome, a laborf lawyer, joined as part of a group from Montgomert McCrackenWalker & Rhoads led by Karl Frittom in 1996. A graduate of West Point, he spent seve years in active duty as a fiel artillery officer before attending Rutgers University Schoolof Law-Camden.