'My client' or 'our client': Is your remuneration approach supporting the right or wrong behaviour in your partners?
Webinar, 16 April 2019 1300 - 1400 BST
As law firms grow from the 'start-up' phase into maturity, it is only normal that their culture and behaviours adapt.
In the early years, the focus is on personal billings with partners developing their list of personal clients. With growth and over time, the priorities change to 'institution building' - encouraging partners to pull in the same direction, building common clients and joint value.
Growth without a sense of sharing and collegiality brings increasing costs with stagnating or lower profits. The measurement of partners by personal targets such as billable hours can, therefore, hold back longer term growth.
The key is balancing the aims of the 'individual' with the 'group'. Some firms benefit from a common sense of purpose or mission - as seen in a shared DNA. Others seek to align their people around a common set of objectives and vision for the future, with financial metrics around that.
In this special on-line session, a panel of senior law firm leaders will share their private thoughts on the use and abuse of financial metrics in partner remuneration. How to support the culture required and avoid the risks of destroying that.
Lexington Consultants, London; Co-outreach and Education Officer Law Firm Management Committee
As a partner at Lexington Consultants, Moray McLaren advises many of the world’s leading independent law firms. He is an Associate Professor at IE Business School, where he teaches on their Top 10 Global MBA programme. An active member of the IBA’s Law Firm Management Committee, he was the inaugural chair of the committee’s Strategy Working Group. Most recently, he has joined the faculty of the Financial Times IE Corporate Learning Initiative.
Senior Partner, Bryan Cave Leighton Paisner
Neville Eisenberg is the Senior Partner of newly merged Bryan Cave Leighton Paisner. He joined Berwin Leighton Paisner in 1989 as a corporate lawyer before becoming Managing Partner in 1999 and leading BLP’s development into first a leading UK and then global firm. Born and educated in South Africa, he graduated with business and law degrees in Johannesburg and then qualified to practice in South Africa and Israel. He completed his Masters in International Business Law at the London School of Economics. Neville´s contribution to innovation within legal services has been widely recognised. He is the Chairman of the British Israel Law Association, a fellow of the Institute of Advanced Legal Studies, and is a member of the Advisory Board of the IBA´s Law Firm Management Committee.
Senior Partner, Karanovic & Partners; Officer, IBA European Regional Forum Advisory Board
Patricia Gannon is a founding partner of Karanovic & Partners, a leading law firm across south eastern Europe. She now focuses on management, business development, strategy and the expansion of the practice. As a committed advocate of corporate philanthropy, she was amongst the founding members of the Serbian Charity Forum, an umbrella forum of the country's leading foundations. She is also a founding member of the Serbian Private Equity Association (SPEA) and sits on their Board of Directors. Patricia is active in the International Bar Association (IBA) as its membership director and a council member of the European Forum. She recently contributed to the book: Partner remuneration in law firms : a guide to reward structures, performance management and decision-making.
Senior Partner, Macfarlanes; Vice Secretary, Private Equity Subcommittee, IBA Corporate and M&A Law Committee
Charles Martin became the Senior Partner of leading City of London law firm Macfarlanes in 2008. He works principally in M&A and private equity, acting for sponsors and corporates. Charles is rated in the top tiers of the most highly recommended M&A and private equity lawyers in the UK by the leading directories. Highlights include leading the team advising Verizon Communications Inc. on its acquisition of Vodafone’s interest in Verizon Wireless for $130bn. In addition, Charles is outspoken in his views of the industrialisation of the legal profession: the impact of BigLaw - increasing scale, corporate-style management - on the quality of work and type of service that clients see and on the careers of lawyers. He writes frequently on issues such as the future of independent law firms, collaboration and culture as well as editing and contributing to several books on take-over law and private equity. He was named Management Partner of the Year 2017 at the Legal Business Awards.