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September 5, 2013 |
Whether you buy into Maslow's hierarchy of needs, Herzberg's two-factor theory or another of the many motivational schools of thought pushed out by numerous management improvement books, there is a clear consensus that recognition and promotion are two key factors to getting the best out of your workforce. In a law firm environment, of course, the clearest example of recognition comes in the form of making partner, with the zenith being the equity ranks. So Legal Week research this week, which shows that the number of partners climbing to the equity at the top 20 UK firms has fallen year-on-year since the onset of the recession, will not make happy reading.
By Charlotte Edmond
1 minute read
September 5, 2013 | International Edition
Whether you buy into Maslow's hierarchy of needs, Herzberg's two-factor theory or another of the many motivational schools of thought pushed out by numerous management improvement books, there is a clear consensus that recognition and promotion are two key factors to getting the best out of your workforce. In a law firm environment, of course, the clearest example of recognition comes in the form of making partner, with the zenith being the equity ranks. So Legal Week research this week, which shows that the number of partners climbing to the equity at the top 20 UK firms has fallen year-on-year since the onset of the recession, will not make happy reading.
By Charlotte Edmond
1 minute read
August 1, 2013 |
When SJ Berwin elected Stephen Kon as its senior partner last year, it did so on a manifesto promise of international growth. And Kon has certainly delivered. The firm has never been one to follow the herd, and the successful conclusion of its merger talks with Sino-Australian giant King & Wood Mallesons (KWM) this week certainly marks it out. The combination – uniting the top 30 firm with the partnerships of legacy King & Wood and Australia's Mallesons Stephen Jaques – will create a firm of some 2,700 lawyers, with the UK firm's moniker being subsumed and KWM lawyers outnumbering SJ Berwin's five to one.
By Charlotte Edmond
1 minute read
August 1, 2013 | International Edition
When SJ Berwin elected Stephen Kon as its senior partner last year, it did so on a manifesto promise of international growth. And Kon has certainly delivered. The firm has never been one to follow the herd, and the successful conclusion of its merger talks with Sino-Australian giant King & Wood Mallesons (KWM) this week certainly marks it out. The combination – uniting the top 30 firm with the partnerships of legacy King & Wood and Australia's Mallesons Stephen Jaques – will create a firm of some 2,700 lawyers, with the UK firm's moniker being subsumed and KWM lawyers outnumbering SJ Berwin's five to one.
By Charlotte Edmond
1 minute read
August 1, 2013 | International Edition
The UK's top law firms have achieved a third consecutive year of growth despite the continued unsettled economy, with combined revenues for the 50 largest firms forcing their way through the £13bn mark. Legal Week's 2012-13 results show that total revenues across the top 50 law firms grew almost 5% on the previous financial year to hit £13.54bn, while average income growth across the group stands at 6.9%.
By Charlotte Edmond
1 minute read
August 1, 2013 |
The UK's top law firms have achieved a third consecutive year of growth despite the continued unsettled economy, with combined revenues for the 50 largest firms forcing their way through the £13bn mark. Legal Week's 2012-13 results show that total revenues across the top 50 law firms grew almost 5% on the previous financial year to hit £13.54bn, while average income growth across the group stands at 6.9%.
By Charlotte Edmond
1 minute read
July 25, 2013 |
To date, UK law firms have been somewhat more restrained than their US counterparts when it comes to the question of names. Getting your name on the letterhead is of course a nice benefit of establishing your own partnership, and eponymous partnerships are a legal requirement for the most part in the US, but the resulting firm names hardly trip off the tongue – Skadden Arps Slate Meagher & Flom, Paul Weiss Rifkind Wharton & Garrison, Wilmer Cutler Pickering Hale and Dorr, to name but a few. In the UK at least, law firms have not been required to use the names of founding partners for many years, and the main reason law firm naming convention has continued in this fashion appears to be tradition, as well as a degree of inertia. This said, the advent of the Legal Services Act and related regulatory changes have allowed a little outside influence to filter through, with distinctly less traditional brands such as Brilliant Law, Thinking Legal and QualitySolicitors emerging. If some of the new law firm names lack the gravitas of their more longstanding peers, you can at least argue their line of business is obvious.
By Charlotte Edmond
1 minute read
July 25, 2013 | International Edition
To date, UK law firms have been somewhat more restrained than their US counterparts when it comes to the question of names. Getting your name on the letterhead is of course a nice benefit of establishing your own partnership, and eponymous partnerships are a legal requirement for the most part in the US, but the resulting firm names hardly trip off the tongue – Skadden Arps Slate Meagher & Flom, Paul Weiss Rifkind Wharton & Garrison, Wilmer Cutler Pickering Hale and Dorr, to name but a few. In the UK at least, law firms have not been required to use the names of founding partners for many years, and the main reason law firm naming convention has continued in this fashion appears to be tradition, as well as a degree of inertia. This said, the advent of the Legal Services Act and related regulatory changes have allowed a little outside influence to filter through, with distinctly less traditional brands such as Brilliant Law, Thinking Legal and QualitySolicitors emerging. If some of the new law firm names lack the gravitas of their more longstanding peers, you can at least argue their line of business is obvious.
By Charlotte Edmond
1 minute read
July 18, 2013 | International Edition
What do clients want? As a lawyer, you are doing something wrong if you can't go a long way towards answering this question. But standing in a room full of senior City partners and general counsel debating the lack of diversity in the legal profession last week, it became apparent quite how nuanced the answer can be. The event – organised by Obelisk, a commercial venture aimed at getting senior City lawyers back into work, particularly after motherhood – looked to address the main issues hindering the rise of women to the top of leading law firms. For as much as the in-house community was quick to denigrate their less diverse private practice colleagues, law firm representatives countered that clients are doing little to help the situation: what clients say they want and what clients actually want are two different things.
By Charlotte Edmond
1 minute read
July 18, 2013 |
What do clients want? As a lawyer, you are doing something wrong if you can't go a long way towards answering this question. But standing in a room full of senior City partners and general counsel debating the lack of diversity in the legal profession last week, it became apparent quite how nuanced the answer can be. The event – organised by Obelisk, a commercial venture aimed at getting senior City lawyers back into work, particularly after motherhood – looked to address the main issues hindering the rise of women to the top of leading law firms. For as much as the in-house community was quick to denigrate their less diverse private practice colleagues, law firm representatives countered that clients are doing little to help the situation: what clients say they want and what clients actually want are two different things.
By Charlotte Edmond
1 minute read
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