The London chief of Duane Morris is hunting for smaller tie-ups with boutique law firms that would allow it to expand the office without jeopardizing its balance sheet.

London managing partner Nic Hart said that he has the scope to identify and sound out boutique firms in the capital as potential merger partners. "Having spoken to the executive committee, I am able, if you will, to look for opportunities with boutique firms," Hart told Law360.

Hart said the strategy reflects Duane Morris LLP's emphasis on maintaining profitability rather than pursuing growth for its own sake. "We could be a lot bigger internationally and in London," Hart said. "We're not for a reason. One of the reasons is to protect our culture, and obviously, even more importantly, to remain profitable."

Duane Morris — founded in Philadelphia in 1904 — has, "if not the best, one of the best balance sheets" among the 100 highest-grossing U.S. law firms, Hart said.

"And we want to keep it that way," he added.

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