Henry Nassau Of Dechert: 'We Have Set Our Sail To Being A Global Firm.'
Tracing its roots back to the year 1875, Dechert made its start in Philadelphia and credits an early and durable success to relationships with the likes of the Pennsylvania Railroad, The Philadelphia Savings Fund Society, and the Pennsylvania Fire Insurance Company. The firm experienced a number of challenges over the early decades, including numerous name-changes and the loss of most of their attorneys to World War II. But by focusing on practice diversification in the mid-1940s and settling on a permanent name in 1962 – Dechert Price & Rhoads – the firm had planted both strategic- and brand-focused stakes in the ground. And what was once a regional, Philadelphia-based firm, is today an approximately 900 lawyer, US$890 million firm with 29 offices around the globe, known only as Dechert. Having reached a critical mass, Dechert has chosen their path: growth. And to continue their ascent up the revenue ladder, they’ve set their sights on expansion into more financial centers around the globe. They’ve also placed a significant focus on strategic pricing, data collection, and project management to better position their offerings in the shifting market.
In this interview with Forbes, Dechert’s CEO Henry Nassau discusses business aspects behind the firm’s growth, including the leverage pyramid, their governance, strategy, compensation model, and more..