Taft Stettinius & Hollister, better known simply as Taft, is staking a serious claim in Midtown Manhattan, taking over the entire 24th floor at 1155 Avenue of the Americas with an eye toward building a roughly 100-lawyer New York office within five years. The firm says it already has more than 80 attorneys admitted to the New York bar, giving its new outpost a running start.
Full-floor lease in Midtown
The Durst Organization says Taft has signed on for the full 16,563-square-foot 24th floor at 1155 Avenue of the Americas, calling it a full-floor commitment that plants the firm squarely in the heart of Midtown. New York Business Journal reported that Taft aims to scale its local headcount to about 100 lawyers over the next five years, signaling a long-term bet on the city.
Energy and project finance team to lead expansion
The New York office will be anchored by an energy, infrastructure and project finance team led by Bradford McCormick, Timothy Moran and Joseph Tato, who joined Taft from Steptoe LLP, according to Taft. The firm says it expects to grow the New York office to more than 100 lawyers over the next five years and points out that more than 80 of its attorneys are already licensed in the state. “New York was the biggest missing piece for Taft as we continue to build a firm that truly serves clients nationwide,” Firmwide Chairman Robert J. Hicks said in the announcement.
Rapid growth strategy
The move into Midtown is part of a broader, fast-paced expansion that has seen Taft add lawyers and markets across the country. The firm now has more than 1,250 attorneys spread across 25 offices and reports revenues above $1 billion, according to industry reporting. As The Indiana Lawyer noted, the New York launch is one of several geographic plays Taft has made over the past 18 months as it works to build a broader national platform.
What to watch
Taft says it will lean on a mix of targeted mergers and lateral hires to build out its New York bench, and the firm has already started stocking the roster. In early May, Taft announced that former federal prosecutor Jaimie Nawaday would join its New York white-collar practice, a move the firm says strengthens its Compliance, Investigations and White Collar Defense group, according to Taft. As the office grows, the market will be watching how quickly the firm can turn its ambitious hiring targets into a fully built-out Midtown operation.
