Finance

Checkbook Recruiting

From the Kirkland & Ellis site, under the topic Careers–>Laterals Overview (I quote in full, emphasis supplied): At Kirkland, the quality and experience of our lawyers are among our greatest strengths. We are committed to making a substantial investment in our lateral hires by fostering an environment in which they are seamlessly integrated into our
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Articles, Business Models, Compensation, Cultural Considerations, Finance, Leadership, Recruiting, Strategy

The UK’s LSA in the US?

A few weeks ago, an editor at the Oxford University Press site, “Academic Insights for the Thinking World,” was kind enough to write me and ask if I might care to submit an essay for their site.  Yes, I’d be delighted, was my response; what about?  “Up to you – within reason, of course.” “Understand,”
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Articles, Business Models, Finance, Globalization, Strategy

Letter from Near and Far

Gentle Reader: Apologies for not having published more frequently over the past couple of weeks but business has taken us to Paris, the south of France, London, Portland, and Seattle–with 48 hours in New York inbetween the European and the Pacific Northwest trips. We met with firms ranging from the Magic and Silver Circle to US-based
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Articles, Business Models, Compensation, Cultural Considerations, Finance, Leadership, Partnership Structures, Practice Group Management, Strategy

Bingham/Morgan-Lewis

Whether or not the bruited Bingham/Morgan-Lewis merger is consummated, Bingham as we know it is beginning to cease to exist. While I have no inside information and am not professionally involved in the recent developments, inquiring minds have to ask what has happened and why, and if there are any lessons for the rest of
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Articles, Cultural Considerations, Finance

The Elite Face-Off: NY vs. London

A famous former (and now late)  leader of the US House of Representatives, the classic Boston pol Tip O’Neill, supposedly remarked that “all politics is local.”  To that I would add MacEwen’s corollary, that “all rivalries are local.” In many ways, the leading candidate for most intense local rivalry in BigLaw is between London’s four
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Articles, Business Models, Compensation, Cultural Considerations, Finance, Globalization, Leadership, Partnership Structures, Strategy

The Age of Anxiety

We’re just back from a week in London—coincidentally smack in the middle of the UK firms’ earnings-release season—and for reasons far more profound than that annual roll call of bragging rights, the level of preoccupation with the future in the great City has never to us seemed higher to us. A telling, and extremely representative,
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Articles, Cultural Considerations, Finance, Leadership, Strategy

How profitable are law firms? Really

Today, a column from Janet Stanton, inviting us (with her) to take a fresh view of Law Land with a brain uncorrupted by having lived her entire life in Our World: A challenge to our readers:  Just how profitable are law firms? Having spent most of my professional career in Corporate Land, I was innocent of
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Articles, Finance

What’s Your Merger Score?

Law firm merger talk seems more in the air than ever, with deals and rumors of deals abounding and redoubtable resources such as Altman Weil’s MergerLine reporting record levels of activity. We would like to believe we’re relatively impervious to being swayed by what’s in vogue (or what’s not), and we certainly do not inhabit
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Articles, Finance, M&A, Strategy

The Hollow Middle Since 2008

I call it the Hollow Middle, but Knowledge@Wharton prefers “Disappearing Middle.” Here’s what, writing in their pages, the CEO of the Cambridge Group, identified as “a growth strategy consulting firm that is part of Nielsen,” has to say about it: The Great Recession forced consumers to drastically rethink their purchase behaviors and, even though many
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Articles, Branding, Client Relationships, Finance, Leadership, Strategy

What Does The AmLaw Second Hundred Tell Us?

Brief thoughts prompted by the release a few days ago of the AmLaw Second Hundred. These are firms ##101—200 in the AmLaw ranking, and by and large they’re regional shops based in secondary metropolitan areas, or small shops in primary cities, or specialists. First a few headline numbers just to set the stage: For these
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Articles, Business Models, Finance, Leadership, Strategy