One of Richmond’s biggest law firms is trying its hand at Capitol Hill lobbying.
Williams Mullen said Tuesday that it has launched a federal government affairs practice, legal industry code for lobbying.
This is Williams Mullen’s first full-on foray into the federal arena after years of running a lobbying practice in Virginia and North Carolina.
The move will help Williams Mullen compete with larger firms, and it has potential to be a major revenue driver for the firm, allowing it to offer lobbying services to existing clients and to attract new clients with the service.
“Law firms have traditionally done this,” said Ralph L. “Bill” Axselle Jr., chair of Williams Mullen’s state government advocacy practice and a former state legislator. “There is, however, more emphasis now on the governmental aspect of protecting your clients’ interests. It is now essential for a business law firm like Williams Mullen.”
To get things off the ground, Williams Mullen has hired Mike Ferrell, whom it lured away from Venable, a large Washington-based firm.
Ferrell helped build Venable’s lobbying practice from the ground up. It was bringing in about $12 million in annual revenue by the time he left, Ferrell said. Larger firms are known to bring in as much as $30 million in annual revenue from lobbying practices.
Some of Richmond’s other largest law firms are also in the lobbying business, including McGuireWoods, Hunton & Williams, LeClairRyan and Troutman Sanders.
“It can be a very profitable enterprise if done right,” said Ferrell, 60, who made the move in late June.
But those big numbers will take some time to obtain, he added.
“I’ve told the firm they need to be patient,” Ferrell said. “It’s probably three to five years for us to break through the ranks of top firms with lobbying practices. It comes in time.”
The lobbying practice differs from the usual legal services in that firms typically land annual lobbying contracts with clients, as opposed to billing hours.
Ferrell sees the practice growing to somewhere between 10 and 20 people.
But first he has to show it can be done without breaking the bank.
“The firm has given me not so much of a budget in terms of dollars, but in terms of time by which they want to show this is a revenue-making enterprise,” Ferrell said.
Now Ferrell, who brought a book of business with him, will continue to navigate the tricky world of Capitol Hill while trying to find lobbyists to join him at the Richmond-based firm.
Ferrell said that although most of the discussion in Washington these days is rightfully focused on the national budget and the debt ceiling, big business clients still have their interests. The hot topics for corporate lobbying these days include financial services, energy, health care, homeland security and foreign government representation.
“It really is a game of trading information and trying to get the skinny of what exactly is on the table and where things stand,” Ferrell said.
Michael Schwartz covers the legal industry for BizSense. Please send news tips to [email protected].
One of Richmond’s biggest law firms is trying its hand at Capitol Hill lobbying.
Williams Mullen said Tuesday that it has launched a federal government affairs practice, legal industry code for lobbying.
This is Williams Mullen’s first full-on foray into the federal arena after years of running a lobbying practice in Virginia and North Carolina.
The move will help Williams Mullen compete with larger firms, and it has potential to be a major revenue driver for the firm, allowing it to offer lobbying services to existing clients and to attract new clients with the service.
“Law firms have traditionally done this,” said Ralph L. “Bill” Axselle Jr., chair of Williams Mullen’s state government advocacy practice and a former state legislator. “There is, however, more emphasis now on the governmental aspect of protecting your clients’ interests. It is now essential for a business law firm like Williams Mullen.”
To get things off the ground, Williams Mullen has hired Mike Ferrell, whom it lured away from Venable, a large Washington-based firm.
Ferrell helped build Venable’s lobbying practice from the ground up. It was bringing in about $12 million in annual revenue by the time he left, Ferrell said. Larger firms are known to bring in as much as $30 million in annual revenue from lobbying practices.
Some of Richmond’s other largest law firms are also in the lobbying business, including McGuireWoods, Hunton & Williams, LeClairRyan and Troutman Sanders.
“It can be a very profitable enterprise if done right,” said Ferrell, 60, who made the move in late June.
But those big numbers will take some time to obtain, he added.
“I’ve told the firm they need to be patient,” Ferrell said. “It’s probably three to five years for us to break through the ranks of top firms with lobbying practices. It comes in time.”
The lobbying practice differs from the usual legal services in that firms typically land annual lobbying contracts with clients, as opposed to billing hours.
Ferrell sees the practice growing to somewhere between 10 and 20 people.
But first he has to show it can be done without breaking the bank.
“The firm has given me not so much of a budget in terms of dollars, but in terms of time by which they want to show this is a revenue-making enterprise,” Ferrell said.
Now Ferrell, who brought a book of business with him, will continue to navigate the tricky world of Capitol Hill while trying to find lobbyists to join him at the Richmond-based firm.
Ferrell said that although most of the discussion in Washington these days is rightfully focused on the national budget and the debt ceiling, big business clients still have their interests. The hot topics for corporate lobbying these days include financial services, energy, health care, homeland security and foreign government representation.
“It really is a game of trading information and trying to get the skinny of what exactly is on the table and where things stand,” Ferrell said.
Michael Schwartz covers the legal industry for BizSense. Please send news tips to [email protected].
I encourage readers to look very carefully at the phrase “foreign government representation” at the end of the article and ask yourselves a few questions: – Really?!? – Why would foreign governments be lobbying MY representatives? – What do they want? – What’s it going to cost me? – Could this be why we have a deficit problem? i.e. – US gives something like $3-4 Billion (with a “B”) to Pakistan…why? What’s in it for me? – How do I feel about a local firm expanding its business by helping foreign governments get their “fair share” of my tax dollars.… Read more »
Linda, your post makes no sense. Either you want to use tax dollars for yourself (“helping foreign govnerments get their ‘fair share’ of my tax dollars”) or you don’t want to be taxed (“TEA Party stands for Taxed Enough . . .”). You can’t get the benefits of tax dollars without actual taxes in place. Follow me? If you are really asking why the US government provides aid or money to any other government, you should brush up on economic policies and global realities. I suggest starting with the local library. Finally, if you read the article, you will see… Read more »
What’s a library?