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US law firm Loeb & Loeb elects partner duo to succeed chair

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Lawyers walk with their briefcases towards the federal court house in San Diego, California June 22, 2015. REUTERS/Mike Blake/File Photo Acquire Licensing Rights

Nov 30 (Reuters) – U.S. law firm Loeb & Loeb elected two of its partners, Mitchell Nussbaum and Arash Khalili, to lead the firm as co-chairs, it said on Thursday.

The partners, who are currently co-chairs of the firm’s capital markets and corporate department, will take over on Feb. 5 from current chairman Kenneth Florin. The firm said Florin decided not to seek a third term.

Florin has been chair since 2018. He will continue practicing at the firm.

The incoming leaders, both longtime Loeb & Loeb lawyers, said in an interview that the firm historically had a dual leadership structure with two co-chairs.

The structure will allow the pair to maintain active legal practices and have coverage on both U.S. coasts, said Nussbaum, who is based in New York. Khalili resides in Los Angeles.

The Los Angeles-founded firm has about 450 lawyers across eight offices in the United States and Asia.

Khalili, who co-founded the firm’s sports group, advises on mergers and acquisitions and other deals in the media, entertainment, technology and sports industries.

Nussbaum is currently vice chairman of the firm. He represents emerging growth companies and investment banks in initial public offerings of operating companies, SPACs and other transactions.

The new leaders outlined priorities as they take the helm, including getting people back to the office in the wake of the pandemic.

Large law firms have been focused on enticing lawyers and staff to work in the office, citing benefits for collaboration and training, and have put in place mandates for in-person working days. Loeb has a three-day per week policy.

The firm is also focused on growth in both transactional and litigation work across three departments, including technology, media, entertainment, sports and IP-centric businesses; capital markets, corporate, finance and real estate; and private client services, Nussbaum said.

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Sara Merken reports on the business of law, including legal innovation and law firms in New York and nationally.

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