After 14 years as chairman of Arent Fox, Marc Fleischaker is turning control of the firm over to real estate partner Mark Katz.
Katz, who previously served as co-chair of the firm's business department, focuses his practice on commercial real estate matters, joint ventures, transactional work and finance. He represents the Whitehall Street Real Estate Funds, which is sponsored by Goldman Sachs & Co.; J.E. Robert Cos.; Marathon Real Estate Opportunity Funds; JBG Cos.; and the Tampa Bay Rays baseball team.
Katz (Oberlin College, UVA Law) took over as chairman on March 1. The news was first reported by The Washington Post.
Fleischaker will continue to serve on Arent Fox’s executive committee and will maintain a fulltime practice. He will also hold the title of chair emeritus of Arent Fox.
According to this year’s Am Law 100 survey, Arent Fox saw its revenue slip 2.7% in 2009, going from $222.5 million to $216.5 million. But by cutting 5% off its expense budget and prepaying about $2.5 million in expenses at the end of 2008, Fleischaker said, the firm was able to keep profits per equity partner flat at $800,000.
The firm stayed out of the lateral market for most of last year. It further cut costs by laying off 13 associates and 15 staff members. The firm also de-equitized three or four partners.