Loeb Real Estate partner Scott Schneider discusses the importance of lateral hiring and its impact on the firm’s profitability, strength and focus. “In those days, I realized that my first task was to educate legal recruiters and the legal community that Loeb was much more than just an entertainment firm,” Scott said. For instance, Loeb offered financial, real estate, advertising and promotions, corporate and litigation services.
Lateral partner recruiting has had a positive impact on the firm’s revenue, revenue per attorney and profitability, all of which have consistently and substantially grown over the years. “I also think that lateral recruiting has helped the firm become more focused on its strengths and on the services it offers. We’ve realized what services we were best at offering to the community and to our clients, which has made us a better overall firm,” Scott added.