Adam Rogers, Managing Partner, Miami, McDermott Will & Emery

In an interview with Invest, Adam Rogers, managing partner of the Miami office at McDermott Will & Emery, discussed the firm’s growth, community impact, and evolving legal landscape. “Our motto, ‘Always Better,’ drives us to continually improve how we serve our clients and contribute to the community,” he said.

Reflecting on the past year, what have been some of the main highlights and key milestones for McDermott Will & Emery?

The last 12 months have been significant for us. 2024 marked our 90th anniversary as a law firm, and it was our best year ever. We exceeded the $2 billion revenue threshold for the first time, achieving over $2.2 billion in revenue firmwide. More than $300 million of that revenue was generated out of our Miami office, which is particularly impressive given that we only have around 80 full-time equivalent attorneys here. While it is a smaller office compared to our larger organization, it is a tremendous office in terms of client relationships, the quality of our attorneys, and the business we generate.

We also placed a strong emphasis on giving back to the community through pro bono efforts. Approximately 92% to 93% of our attorneys participated in pro bono services, contributing around 3,200 hours collectively. This averages to about 40 hours per attorney on a full-time equivalent basis, which is something we are extremely proud of.

Our motto, “Always Better,” drives us to continually improve how we serve our clients and contribute to the community. In 2024, we executed exceptionally well on that commitment.

What is your overview of the legal sector in Miami?

Miami has always been a preferred destination, but since COVID-19, we have seen a significant increase in critical mass in terms of investors, funds, and companies establishing a foothold here. This has transformed the marketplace. While we are not on par with Silicon Valley in terms of tech startups, there is a growing focus on tech companies and startups compared to five or 10 years ago. The infrastructure and capital availability have improved, making Miami a growing legal market.

Twenty years ago, Florida law was mostly associated with trusts, estates, and real estate. Today, it is a robust international marketplace for companies and investors who require sophisticated legal services.

Which services and industries are driving demand?

Healthcare and private equity remain two of our strongest areas, both firmwide and in our Miami office. We also excel in specialized litigation, such as white-collar litigation, enforcement, and investigations. Our Tax and Private Client practices are also robust in Miami.

We are also seeing significant activity in the M&A and corporate spaces. Healthcare deals are moving forward, but the flurry of new laws and regulations at both the federal and state levels is also keeping us busy. 

Specialized litigation, particularly in white-collar cases, is another growth area, depending on the Justice Department’s activity under the current administration. Technology, especially companies leveraging AI, is another hot spot right now. Biotech and related opportunities are also areas of focus.

What are the strongest opportunities for growth within the legal industry?

We have seen an uptick in various types of litigation, including privacy litigation—class actions based on issues like website cookies and marketing practices can lead to settlements in the tens of millions of dollars. We help our clients stay ahead of these risks to avoid large class action lawsuits.

Additionally, the recent Supreme Court decision effectively overruling Chevron deference has led to more regulatory litigation. Stakeholders are now more confident in challenging agency decisions if they believe an agency has overstepped its regulatory bounds. We are seeing increased inquiries and discussions with clients about these opportunities.

Valuations have also become a focus. As interest rates remain high and fears of a recession persist, business valuations have ticked down slightly. This has created opportunities as sellers adjust their expectations, narrowing the valuation gap and allowing more deals to move forward.

What are the biggest challenges for McDermott Will & Emery, and how do these relate to what is happening in the broader legal industry?

For a law firm, one of the biggest challenges is attracting top-tier talent. We have been fortunate under our current leadership over the last seven to 10 years, as our performance has allowed us to attract more top talent, particularly in Miami. Legal demand across the industry is relatively flat, so the focus is on maximizing our relationships, offering value to clients, and growing our market share.

Additionally, the macro environment poses challenges. The economy is currently choppy, with uncertainty created by a variety of policy proposals. There is talk of a potential recession, which could impact deal flow and the broader economy. Navigating these challenges while keeping our long-term strategic vision in mind is crucial.

What is your outlook for McDermott Will & Emery and for the overall legal sector in the mid- to longer term?

In the current environment, where technology is rapidly changing the landscape, projecting five to 10 years ahead is quite a long time. However, we have had tremendous success in climbing the ranks of law firms in terms of quality ratings and quantitative performance. Our commitment is to continue delivering our best for our clients, colleagues, and employees.

We focus on creating a culture of psychological safety and wellness, ensuring that our team can always bring their best at work, including bringing new ideas based on their experiences and vantage points. Our long-term vision is to continue being trusted partners to our clients and to continue to grow as one of the top law firm brands.

Lastly, our commitment to our people will remain unchanged. We have been named a top workplace in Miami by the Sun Sentinel for the last few years. Our employees are incredibly important to us, and we are committed to their well-being. In 2024, we hired a new firm-wide Director of Wellness, and the year before, we brought on an exceptional Chief Human Resources Officer. They have done a phenomenal job in enhancing our culture, ensuring that our team is taken care of so they can bring their best to work every day. This focus on wellness and culture, in addition to our exceptional financial performance, is the foundation upon which our success is built.

To what extent is McDermott Will & Emery benefiting from the business relocations, expansions, as well as general population growth in Miami and South Florida?

Miami has always been a great place to practice law, but the recent influx of like-minded individuals, whether they be business leaders, financial leaders, or industry professionals, has created a critical mass that has enhanced the environment. This growth has allowed us to host more events, make more connections, and bring more people together.

For example, we recently held our Healthcare Private Equity Miami event in South Beach, which has become the premier middle-market healthcare private equity conference. Before COVID-19, we had around 400 to 500 attendees. In the last four years, post-COVID, the event has exploded, with nearly 2,200 attendees this year. The feedback was amazing, and it has provided us with opportunities to make connections for our clients and contacts, whether they are looking for deals or exploring new segments of the industry. The growth in Miami has been a significant benefit to our firm.