United States: Shechtman Named “Distinguished Leader” By NY Law Journal
Last Updated: July 28 2017

Not many law firm managing partners are profiled in Forbes, so when Ronald Shechtman was tapped by the publication for a feature on the future of legal services, it was a testament to his vision and renown as the leader of one of the country's premier midsize firms.

Under Shechtman's management, Pryor Cashman has achieved record growth in attorneys, practices and revenue, all while cementing its position as a full-service powerhouse and practical alternative to BigLaw. Shechtman saw the firm through the perils of the Great Recession, developing a strategy in the process that has allowed the firm to compete for - and win - new business that was once exclusively in the domain of BigLaw. Today, Pryor Cashman employs more than 150 attorneys at its Times Square headquarters and satellite office in Los Angeles.

Competitors, clients and the media have taken note. In 2016-17, Shechtman was invited to host the New York State Bar Association's "Managing Partner Conference Series," where he shared tactics to help other midsize firms succeed in the ultra-competitive New York legal market. Additionally, Law360 published several of his op-eds, including "The Rise of Midsize Firms" and "Midsize Firms Can Outflank the Am Law 200," in which he predicted that the demand for value-driven legal services would continue to increase, posing significant opportunities for nimble and entrepreneurial firms.

Shechtman also drew the attention of Interlaw, a global association of elite law firms, which invited Pryor Cashman to host its Annual Global Meeting, where nearly 150 delegates will travel to the firm's New York office to attend lectures concerning the future of law and legal services. 

The underpinning of Shechtman's management philosophy is the empowerment of young, "home-grown" partners and carefully selected laterals from top Am Law firms, in-house departments and government agencies, who are given great latitude to pursue new business. As he told Forbes, "Frankly it's hard to manage all of the inquiries we get because there are not a lot of midsize firms left, and we are seeing enormous interest from lawyers in BigLaw who are having trouble developing a practice when their hourly rates exceed a thousand dollars, and they can't get out of their silo or get others out of theirs to help them. For those partners, and even companies who are looking for alternative economic models, we're of great interest."

In addition to his role as Managing Partner, Shechtman also serves as Chair of the firm's Labor + Employment Group, where he maintains an active and highly regarded practice. Most recently, he represented the original cast of the Broadway megahit Hamilton in securing an unprecedented profit-sharing agreement with the show's producers. The deal garnered extensive media attention, including from The New York Times, Bloomberg and Variety, all of which interviewed Shechtman on his role in the groundbreaking negotiations.

As Managing Partner, Shechtman has guided Pryor Cashman's expansion and solidified its reputation as a sophisticated and dynamic midsize firm. He has done this while maintaining a culture of collegiality, respect and excellence, making him worthy of inclusion among New York's distinguished leaders.

To view the full awards announcement from The New York Law Journal, please click here

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