Drinker Biddle & Reath LLP today announced that Chairman and Chief Executive Officer Andrew C. Kassner has been reappointed chairman for a second four-year term.
Kassner, whose new term began in February, was first appointed chairman by the firm’s managing partners in 2014, after having previously served as executive partner for 10 years. Since 2004, when Kassner began as executive partner, Drinker Biddle has grown from 360 lawyers, primarily located in the mid-Atlantic region, to a national firm of nearly 575 attorneys in 13 offices from coast to coast in the United States and in London.
“The managing partners’ unanimous decision to appoint Andy to a second term affirms our continued trust in his vision and leadership,” said F. Douglas Raymond, one of Drinker Biddle’s 12 elected managing partners, who collectively serve in a similar role as a board of directors. “Andy has helped guide Drinker Biddle through a period of significant growth and change. The managing partners and our management team are well-aligned on the vision for the firm as set forth in our strategic plan. We are pleased that he will continue to lead our firm.”
During Kassner’s first term, Drinker Biddle recorded three of the highest-performing financial years in its 170-year history. Between fiscal years 2014 and 2018, revenue at the firm grew from $381 million to $450 million, while profits and revenue per partner also reached record highs.
Under Kassner’s leadership, the firm has drawn national recognition for its commitment to diversity. Women account for half of both Drinker Biddle’s elected managing partners and its executive leadership team. Last year, the firm participated in the Diversity Lab’s 2018 Diversity in Law Hackathon, during which teams collaborated on ideas to promote and increase diversity in the legal profession. The firm has also signed on to the Mansfield Rule. This initiative requires law firms to pledge to increase diversity in their attorney-candidate pool and increase the representation of women, minorities and other diverse attorneys in law firm leadership roles.
“It is a great honor to serve another term as Drinker Biddle’s chairman,” Kassner said. “During the past four years, we expanded our national presence and core industry and practice groups. I am proud of our ability to consistently attract the finest legal talent while cultivating a culture that places the highest value on collegiality, inclusion and diversity. I look forward to working with my partners to build on our successes, which include first and foremost our commitment to providing our clients with excellent legal representation and the exceptional client service that defines Drinker Biddle.”
Kassner is an accomplished restructuring lawyer who chaired the firm’s Corporate Restructuring Practice Group for nearly 20 years. His practice is concentrated in workouts, complex Chapter 11 cases and related bankruptcy litigation. He has been named one of only two bankruptcy stars in Pennsylvania by Chambers USA, which described him as a “fabulous strategic partner…who has been around a long time and deserves a lot of respect.”
Kassner has lectured at The Wharton School at the University of Pennsylvania on corporate business bankruptcies. He also taught advanced bankruptcy law at Rutgers University School of Law-Camden for more than a decade. He currently co-authors a regular column for The Legal Intelligencer on significant decisions and developments in restructuring and distressed company corporate governance.