Joe Krasovec with ship Hardin. Courtesy photo
Chicago-based Am Law 200 law firm Schiff Hardin has elected a new managing partner, the firm said on Friday.
Joe Krasovec assumed the new role effective February 8, the company said. He has been co-head of the practice group for five years and a member of the company’s Executive Committee since 2018.
He takes over the management from Marci Eisenstein, the first female managing partner of Schiff Hardin, who was elected to the role in 2015. During her tenure, the company strove to prioritize diversity and launched company-wide wellness programs.
“Marci was an outstanding figure in our company and in the whole profession and we have all benefited greatly from her leadership in this unprecedented chapter in our country’s history,” Krasovec said in a statement. “We are very grateful for your many years of service and your deep commitment to the company.”
Krasovec was not available for an interview on Friday.
His résumé features a number of high profile product liability cases in the United States, including a recent defensive win at Shelton against McDaniel and Graco Children’s Products in a two-week lawsuit outside of Texas that was carried out in person despite the pandemic.
“With Joe at the helm, Schiff Hardin is well positioned for the future as his focus on growth, talent development and technological advancement,” said Eisenstein. “I will continue to support Joe in executing the company’s strategy of expanding our core areas of strength and capitalizing on opportunities that benefit our customers.”
The company also took note of a new member to its seven-member Executive Committee, Imron Aly. Other members of the committee are Krasovec, David Blickenstaff, Christine McGuinness, David McHugh, Gabe Rodriguez and Bruce Weisenthal.
Schiff Hardin’s home market in Chicago remains a hot market in big law and among midsize businesses. Despite the pandemic, several companies entered the market in the past year.
The company also has offices in New York; Washington, DC; Ann Arbor, Michigan; Newport Beach, California; San Francisco; and a second office in Illinois in the Lake Forest.
The firm ranked 158th at the 2020 Am Law 200 with gross revenues of $ 186.4 million in 2019. The firm’s 2020 financial results have not yet been reported by The American Lawyer.
Like many companies in 2020, Schiff Hardin has decided to cut wages due to the pandemic and uncertainty about its impact on the business. This included 15% cuts for lawyers and employees earning more than $ 100,000 and the potential for 50% cuts for some lawyers based on demand. However, the company restored salaries later that year.
The company took out a loan for the paycheck protection program in 2020 and received $ 5,383,100 from the federal program.
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