Philly Firms Eye New Locales as Local Market StagnatesJuly 24, 2015 – In The News
Mark Silow was featured in the Law360 article, “Philly Firms Eye New Locales as Local Market Stagnates.” Full text can be found in the July 24, 2015, issue, but a synopsis is below.
According to Fox Rothschild Firmwide Managing Partner Mark Silow, many businesses and law firms have become hesitant to move into the Philadelphia market. Instead, “firms are by and large fighting for the same business," he said. "There’s not a lot of new business coming onto the market.”
As a result, many firms, including Fox, have looked to other cities for expansion. Fox, which opened a Dallas office in 2014, recently opened a Chicago office, its 21st office.
Silow noted that South Florida and Texas have also become attractive destinations for Philadelphia firms looking to expand.
“Miami continues to be a booming city with lots of interesting practices,” he said. “Texas is still a pretty dynamic market, in spite of the energy downturn.”
While Fox has yet to expand internationally, Silow said that the firm would be guided by the needs of its clients.
“The general continual internationalization of business will eventually push us there,” Silow said. “It’s just not for us yet.”