Mainebiz

V O L . X X I I I N O. X X V I I N OV E M B E R 1 3 , 2 0 1 7 20 S teady growth at Eaton Peabody is rooted in the law fi rm's Maine- centric vision of client service. at's the word from President and Managing Partner David Austin, whose fi rm has grown its staff in the Portland offi ce as well as its four other locations. e fi rm opened its Portland offi ce in 2012 and in just four years moved to larger offi ces there to accommodate growing ranks. at growth is in keeping with what appears to be a statewide and national trend in the law profes- sion. Also in keeping with state and national trends, Eaton Peabody is working on issues related to aging demographics and retention of younger attorneys. But Eaton Peabody prefers to focus on these questions as opportu- nities, not challenges, says Austin. "Good lawyers and good relation- ships is really what it comes down to," he says. "We have a fairly unique perspective, for a larger law fi rm, of focusing on Maine clients and their needs. Some of our peers have taken the extra step beyond Maine. Not to say we wouldn't ever do that. But our vision is Maine-focused. It's a bit of an underserved market. So there's a lot of opportunity." Graying of the bar In Maine, there's anecdotal evidence that legal practices might be mirror- ing national growth trends, says Angela Weston, executive director of the Maine State Bar Association, with 3,100 mem- bers, or about 70% of in-state Maine- licensed attorneys. "We don't track that information, but we see evidence of fi rms growing," she says. "We see attorneys or fi rms that are advertising for new associates. And there have been some mergers of fi rms over the last few years." But the profession, both in Maine and across the country, is challenged by aging demographics, says Weston. "We all know that baby boomers are getting to the point where they're starting to retire," she says. "Maine is a very old state when it comes to attor- neys. We call it the 'graying of the bar.'" She notes that 58% of the bar associa- tion's members are over age 50. It's unclear how the retirement cliff syncs with growth that fi rms might be experiencing. "Does it mean that attorneys are moving around? Are some fi rms gaining attorneys and others are losing? Or are some solos now joining fi rms because they don't want to be on their own any- more as they age?" Weston asks. How to solve the graying of the bar is "the million-dollar question," she says. "It's what bars are working on in Maine and across the country. I think fi rms generally are trying to hire young attorneys. And in the bar association, as well as our leadership positions, we're trying to attract younger members. We want them to feel a sense of community within their profession, and to meet with colleagues their age and more experi- enced colleagues with whom they can form mentorship relationships." Like the bar association, Eaton Peabody is concerned about aging demographics. "We're always looking at that," says Austin. "Maine is challenged by, not only the next generation of attorneys, but the next generation of local busi- ness owners coming up and growing businesses here in the state." New opportunities Eaton Peabody started in 1917, with Bangor business lawyer George F. Eaton. He was joined in 1937 by George F. Peabody. ey focused their practice on civil and business law, particularly for clients in northern and eastern Maine. e fi rm grew and moved to its current Exchange Street location in 1977. e growth of an economic development practice, in the late 1990s, led to the creation of Eaton Peabody Consulting Group. Today, the fi rm and its affi li- ates combine nearly 60 attorneys and consultants with over 50 support staff to serve clients throughout Maine and beyond from offi ces in Augusta, Bangor, Brunswick, Ellsworth and Portland. Eaton Peabody ranks No. 6 among Maine's largest law fi rms, based on the number of attorneys in the state, according to a Mainebiz list published on Page 26 of this issue. Establishment of the Ellsworth, Augusta and Brunswick offi ces was driven by opportunities to affi liate with various attorneys in those areas. Being in Portland was important to the fi rm's growth, and driven by having a presence in the economic center of the state. "A lot of our traditional client base, especially for the northern Maine region, has expanded to the Portland region," he P H O T O / JA S O N PA I G E S M I T H Law and orderly growth Eaton Peabody, like other firms, tackles aging demographics B y L a u r i e S c h r e i b e r F O C U S Eaton Peabody President and Managing Partner David Austin says the law fi rm's growth has been helped by opening new offi ces and recruiting young lawyers. When we present an offer to someone who is 25 When we present an offer to someone who is 25 When we present an offer to someone who is 25 When we present an offer to someone who is 25 When we present an offer to someone who is 25 When we present an offer to someone who is 25 When we present an offer to someone who is 25 When we present an offer to someone who is 25 When we present an offer to someone who is 25 When we present an offer to someone who is 25 When we present an offer to someone who is 25 When we present an offer to someone who is 25 When we present an offer to someone who is 25 years old — 'We want you to become a partner years old — 'We want you to become a partner years old — 'We want you to become a partner years old — 'We want you to become a partner years old — 'We want you to become a partner years old — 'We want you to become a partner years old — 'We want you to become a partner years old — 'We want you to become a partner years old — 'We want you to become a partner years old — 'We want you to become a partner years old — 'We want you to become a partner years old — 'We want you to become a partner years old — 'We want you to become a partner and be here the rest of your career' — they're not thinking like that at their age. So we want to make this a place where they really do want to practice. — David Austin President and Managing Partner, Eaton Peabody

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