Bigger. Better. Both?
4 May, 2015
Why every firm needs a Managing Partner, Clients
Paul Hugh-Jones. Accounting. Consulting. Consulting engineering. Governance. Law. Management consulting
If you look around law and other professional service firms, it is clear that after a period of decline, the Managing Partner, Clients role is back in vogue – in Australia at Clayton Utz, King & Wood Mallesons, Herbert Smith Freehills, Ashurst and others – and with good reason. Here’s why.
2 March, 2015
The time to start planning succession in Australian law firms is now
Based on the current profile of partner ages, succession in Australian law firms seems to be heading towards a crisis. In Australia’s 50 largest law firms 43% of partners are over the age of 49 (1). This points to a looming succession challenge, not only for the firms themselves, but also for their clients. The […]
29 September, 2014
Why the economics of free agency should worry partners
Until recently I have not paid full attention to the free agent phenomenon, but during a recent visit to Chicago I came to understand why the economics of free agency should worry every owner of a BigLaw firm.
29 July, 2013
How capital structure influences partnership culture
There was a time when keeping an eye on lock-up (the sum of debtors and work-in-progress) was the only balance sheet item to which the managers of partnerships paid much attention. In those times banks were easy lenders and, in the main, equity partners were relaxed about the timing of their top-up draws. But in […]
1 July, 2013
The board conundrum in professional services firms
The board is a conundrum in professional services firms. It is a conundrum because answering the question “When is a board a true board in a professional services firm?” is both easy and hard at the same time.
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