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McGuireWoods Grabs Four More from Reed Smith

April 4, 2016, 1:37 PM

Continuing a ten-day hiring streak, McGuireWoods is set to announce on Monday the addition of Marc Lackner and Carolee Hoover, two more financial services litigators from Reed Smith.

Both are joining McGuireWoods as partners in the firm’s San Francisco office. Before going to Reed Smith in 2012, Lackner spent 15 years in-house at Bank of America, including a stint as head of the company’s securities litigation group.

In addition to Lackner and Hoover, two Reed Smith associates are joining McGuireWoods.

The hire of Hoover and Lackner bring the total number of lawyers in McGuireWoods’ new San Francisco office to eight, said David Powell, the office’s managing partner: four partners, two associates, and two other attorneys. Powell said the firm has plans to make the office a “full service” location.

After Lackner and Hoover, McGuireWoods has now brought in ten Reed Smith lawyers as partners in the last two weeks.

On March 23, the firm announced the addition of Mary Hackett , a financial services litigator in Pittsburgh, and Powell, a former Reed Smith partner tapped by McGuireWoods to open the firm’s San Francisco office.

On Friday, the firm announced the addition of four other Reed Smith litigators , including fintech lawyer David Reidy early last week, and two more litigators in Pittsburgh.

A spokesperson from Reed Smith did not respond to a request for comment.

Brad Kutrow, chair of the firm’s Financial Services Litigation department, said he’s worked on cases with the new lawyers over the years, and already knew Powell.

Kutrow also highlighted the firm’s growing fintech practice, headed by Reidy. Fintech, or “financial technology,” refers to offering financial services more efficiently through software applications, and is often often portrayed as a threat to traditional services offered by banks.

Reidy noted that fintech companies have come under increased scrutiny from government regulators , creating plenty of work for lawyers.

“If you think about companies like PayPal and Lending Club, San Francisco’s been ground zero for tech companies entering the financial industry,” Reidy said. “It’s really been growing exponentially over last two to three years.”

Kutrow said the firm has an emerging fintech practice in Charlotte as well.

Asked why the firm decided to open a San Francisco office now, Kutrow said it was a matter of the right lawyers being available. “We’re the kind of firm that really wants to be very sure when we make a decision like this that we’ve got the very best people,” he said.

The new office, at 505 Sansome, is part of the Transamerica Pyramid Center in San Francisco’s financial district. “We’ve got room to grow,” Powell said of the new office space.

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