Client service. The heartbeat of Biglaw. The area where every firm has to improve. Perpetually. Biglaw hamsters in overdrive. All to make the clients happy. Sit back and admire your Biglaw firm’s willingness to go the “extra mile” by listening to its clients. We might even see a client paraded before our partners once a year. (See my column on improving partner meetings by having guest appearances from clients.)
We are taught happy clients are well-paying clients. And clients that will refer their dissatisfied colleagues at other companies to experience our brand of Biglaw magic. We love clients. Almost as much as the consultants do on House of Lies, a show that provides outrageous, if funny, explorations of the client-service provider dynamic in modern-day America. (A fun business development-training program would involve watching a series of client-interactions from the show and learning from them. Better than listening to Rainmaker X pretend the reason for his multimillion-dollar book was not his maternal grandfather’s business dealings and connections.)
Truly thinking about client service can be all-consuming, especially for a younger partner like myself. No one is giving me clients. I have to fight for them in the marketplace. I love it, but it is difficult and you need patience.
But rather than focus on the process of developing clients, let’s discuss the art of “superpleasing” clients….
Ted Olson and David Boies: adversaries, then allies, then adversaries again.
After covering the Dewey & LeBoeuf bankruptcy hearing on Wednesday morning, I walked a few blocks uptown to the Second Circuit for another exciting event: oral argument in the closely watched Argentina bondholder litigation. It was a Biglaw battle royal, pitting Ted Olson, the former solicitor general and current Gibson Dunn partner, against a tag team of top lawyers that included David Boies, Olson’s adversary in Bush v. Gore (and ally in Hollingsworth v. Perry).
Here’s my account of the proceedings, including photos….
* Dear professors, please try to understand that most people who experience normal, human emotions are more concerned with the future of American law students than they are with whether or not American law schools can survive by bilking the hell out of foreigners. [PrawfsBlawg]
* In Canada, they raided somebody’s Super Bowl party to bust up an illegal gambling ring. They never would have done this during the Grey Cup. [CTV News]
* Apparently some kind of law something happened on Downton Abbey last night? I missed it, because staring at a dark stadium is literally more interesting than that freaking show. [Law and More]
* Thomson Reuters is getting out of the academic book publishing business. If only law professors would do the same thing. [TaxProf Blog]
You’re probably wondering the same thing as you read a Monday post from the heretofore “Thursday morning guy.” Well, I’m pleased to announce that I am your new ATL assistant editor. Moving on up from humble contributor to a spot on the masthead.
I will cover all manner of subjects, but with a particular eye on legal tech. Basically I’m the Kreiger of the ISIS operation that is ATL.
And yes, I’m going to be upping the Archer references at this publication because Archer is awesome.
More about me, including a real picture and my résumé for your crippling judgment, after the jump.
Few people are happier about the world’s surviving the Mayan Apocalypse than new partners at top law firms. Can you imagine slaving away in Biglaw for almost (or even over) a decade, finally winning election to the partnership in late 2012, and then having the world end before your hard-won partner status took effect?
Fortunately that didn’t happen. Heck, we didn’t even go over the fiscal cliff. But some people will have to pay higher taxes this year (and for many years to come).
Like these people: the talented and hardworking lawyers who, as of January 1, 2013, became partners of their respective law firms. Let’s find out who they are, so we can congratulate them….
Manhattan is going back to work today. The power is on, pretty much. The subways are running, basically. And, well hell there’s money to be made, so get your asses to your desks.
While Staten Island is still a soggy disaster, Emperor Bloomberg has gotten the corporate centers of wealth generation back online in his “luxury city.” And so the city that never sleeps is waking up.
But just because we have power doesn’t mean there is heat. Yeah, the power is back on in SoPo, but in many places the heat isn’t yet working. (This is the case in Lat’s apartment; luckily he’s already in Nashville for an eventtomorrow at Vanderbilt Law.)
So, I guess you need to be able to type with gloves on? A tipster at one Biglaw firm tells us a chilling story….
Around here, one can’t mention the concept of something being “overrated” without reference to one of the weirdest and most enduring ATL comment memes, a play on the late, great Hitch’s assertion that the four most overrated things in life are “champagne, lobster, anal sex, and picnics.” So who are the, um, lobsters of Biglaw?
Last week, we had a look at what our audience considered to be the most underrated Biglaw firms, by practice area. Today, inevitably, we turn it around and have a look at what you’re telling us are the most overrated firms.
Among other things, our ATL Insider Survey asks attorneys to nominate firms with overrated practices within the respondent’s own practice specialty. Litigators nominate litigation departments, etc.
To be sure, these survey results need to be taken with some buckets of salt — we realize that, for some, answering this question might be a chance to take an easy shot at a more successful rival or competitor. Of course, there are crazy people who will tell you that such paragons as Benjamin Franklin or Tom Brady are “overrated,” but that probably says more about the person making that statement than anything else. But that said, these survey responses are a fun glimpse at which firms Biglaw attorneys think are more sizzle than steak….
Here’s an interesting irony: some of the Biglaw firms that spend the least amount of time thinking about money are the ones that enjoy the most of it. A number of super-elite New York law firms have lockstep compensation systems, in which partners are paid purely based on seniority, and these firms are among the most profitable in the country. These firms focus on doing great work for their clients, not on divvying up the spoils from such work — and, in the end, there’s more than enough filthy lucre to keep everyone smelling like money.
On an individual level, some of the wealthiest lawyers in Biglaw — the ones who make partner, and remain partner, for years and years — don’t fixate much on money either. They focus instead on their work, which they seem to just love (often more than any hobbies, and sometimes more than their families). As for the money, well, it just comes — in copious quantities.
He’s going to Disney World? No, not this veteran M&A lawyer….
Let’s say you graduated from a leading college, summa cum laude, and from an elite law school, also summa. You began your legal career as a transactional lawyer at one white-shoe law firm, where you made partner. You left that firm for investment banking, where you encountered significant success. Then you returned to the legal world, first as an M&A partner at one top firm, then at another. At your final firm, you served as global co-chair of the firm’s renowned mergers and acquisitions group, working on some of the biggest deals around the world.
Then, in your 70s, you decide to leave your firm and also the legal world. Where would you go next?
The evolution of relationships between the genders continues. Currently, in law firms, there is an interesting conundrum; balancing the desire for a gender-blind workplace where “the best lawyer gets the work and advances” and the reality of navigating the complicated maze created by the fact that, in general, men and women do possess differences in their work styles. These variations impact who they work with, how they work, how they build professional connections and how organizations ultimately leverage, reward and recognize the talents of all.
Henry Ford sat on his workbench and sighed. A year earlier, he had personally built 13,000 Model Ts with his own hands. Fashioning lugnuts and tie rods by hand, Ford was loath to ask for help. Sure, there were things about the car that he didn’t quite understand. This explains the lack of reliable navigation systems in the Model T. But Ford persevered because he knew that unless he did everything, he could not reliably call these cars his own.
“Unless my own personal toil is responsible for it, it may as well be called a Hyundai,” Ford remarked at the time.
The preceding may sound unfamiliar because it is categorically untrue. And also monumentally stupid. Henry Ford didn’t build all those cars by hand. He had help and plenty of it. Almost exactly one hundred years ago, Henry Ford opened up the most technologically advanced assembly line the world had ever seen. Built on the premise that work can be chopped up into digestible pieces and completed by many men better than one, the line ushered in an age of unparalleled productivity.
Today, an attorney refers business because he can’t do everything the client asks of him.
There are three reasons why this is way dumber than a made-up Henry Ford story…
Ed. note: The Asia Chronicles column is authored by Kinney Recruiting. Kinney has made more placements of U.S. associates, counsels and partners in Asia than any other recruiting firm in each of the past six years. You can reach them by email: [email protected].
Since late last year, things have been booming in Hong Kong / China in cap markets, especially Hong Kong IPOs. M&A deal flow has recently been getting a bit stronger as well. Although one can’t predict such things with any certainty, all signs are pointing to a banner entire 2014 for the top end US corporate and cap markets practices in Hong Kong / China. This is not really new news, as its been the feeling most in the market have had for a few months now and things continue to look good.
The head of our Asia practice, Evan Jowers, has been in Hong Kong for about 10 days a month (with trips every other month to both Shanghai and Bejing) for the past 7 months, and spending most of his time there meeting with senior US hiring partners at just about all the major US and UK firms there, as well as prospective candidates at all associate levels and partner levels, and when in the US, Evan works Asia hours and is regularly on the phone with such persons, as our the other members of our Asia team. Our Yuliya Vinokurova is in Hong Kong every other month and Robert is there about 5 times a year as well. While we have a solid Asia team of recruiters, Evan Jowers will spend at least some time with all of our candidates for Asia position. We have had long standing relationships, and good friendships in some cases, with hiring partners and other senior US partners in Asia for 8 years now.