Washington’s Arnold & Porter is following the trend set by its New York counterparts by converting to a limited liability partnership (LLP).
The move, effective from February 2, arrives after a flurry of LLP Manhattan conversations last year including Sullivan & Cromwell and Cravath Swaine & Moore.
Jim Sandman, managing partner at Arnold & Porter, said: “It has become acceptable and commonplace for large US law firms to do this.”
Commenting on whether relatively recent law firm collapses such as the West Coast’s Brobeck Phleger & Harrison and Chicago’s Altheimer & Gray inspired the move, Sandman said: “It was really a result of a number of other large firms becoming LLPs.
“That may have been triggered by risk but for us it is a good way of doing business.”