One of New Jersey’s largest firms, McElroy, Deutsch, Mulvaney & Carpenter has created a minority-owned law firm subsidiary. Last month the 230-lawyer Morristown firm acquired a 49 percent hold in Espinosa & Espinosa, a six-lawyer minority firm in Weehawken, NJ. Associating with McElroy Deutsch allows Espinosa to gain corporation work by marketing itself as a minority firm able to take advantage of the support and expertise of its parent firm. While the arrangement seems promising, the president of the National Minority Supplier Development Council cautions against assuming that a minority firm actually hires a significant number of minorities. She would like to see firms like Adorno & Yoss, with 20 percent Hispanic and 17 percent African American lawyers, get more corporate work.
Source: www.law.com