Over the last three weeks, we have heard from an In-House Insider, an opinionated source of insight into Biglaw-client relations — see here, here, here, and below. As with the three prior installments, the only changes I made to the Insider’s words were those done to protect their identity, and Insider was given the opportunity to revise their points once I added the questions and commentary. Again, I thank Insider for the candid observations and thoughtful opinions on these core issues….
AP: Any serious observer of Biglaw can see that firms continue to struggle adapting associate development to the new state of Biglaw-client relations. What can Biglaw learn from corporate clients like yourself on that front?
Over the last two weeks, we have heard from an In-House Insider, an opinionated source of insight into Biglaw-client relations — see here, here, and below. As with the two prior installments, the only changes I made to the Insider’s words were those done to protect their identity, and Insider was given the opportunity to revise their points once I added the questions and commentary. Again, I thank Insider for the candid observations and thoughtful opinions on these core issues.
AP: How firms are viewed from a value perspective is often very difficult to gauge from the outside. What criteria do you use to determine if a firm is delivering services to your company appropriately from a billing perspective?
The news of the K&L Gates / Middletons merger, which looks a lot like the acquisition of Middletons by K&L Gates, got us thinking about the value of law firms. It’s quite apropos given that Middletons is based in Australia, home of the world’s first publicly traded law firm.
As we mentioned in yesterday’s Morning Docket, the American Lawyer recently set out to determine the world’s most valuable law firms. How did Am Law go about doing this, and which leading law firms sit atop their rankings?
I’ll be giving my “book talk” about The Curmudgeon’s Guide to Practicing Law at The University of Michigan Law School on Monday, March 5, and again at Northwestern University Law School on Tuesday, March 27. If there’s a chance your organization might be interested in that talk, and you’ll be in Ann Arbor or Chicago at the right times, please let me know. We’ll sneak you into the room, and you can get a sense of the topics that I discuss.
Now, the business: You are not a potted plant! When you transmit something, either within a law firm or to (or within) a corporate law department, add value. You are not — or should not be — simply a conduit through which things flow. You don’t impress people with your timidity, and you may well annoy people.
Have you ever heard of a “chief value officer”? Let’s assume your answer is “no,” because you don’t spend your free time reading synergistic white papers produced by McKinsey & Co. But that’s something the good people at Drinker Biddle would like to change. The Legal Intelligencer reports that Drinker Biddle is creating a new position to help the firm focus on client value:
If in a push for efficiency law firms are changing the way they offer their services, it’s only logical that how they market those services needs to change as well.
That’s a concept not lost on Drinker Biddle & Reath, which, after scaling back what it calls its client relations department over the last four years, is ready to grow it in a different way after widely restructuring the department’s functions.
The restructuring is highlighted by the appointment of Chicago-based Kristin Sudholz as the firm’s first-ever chief value officer.
You gotta ask yourself: What kind of economy are we living in where a professional services firm needs to create an executive position to make sure clients receive value for the services they purchase? It’s almost like a automobile manufacturer needing to create a “chief driving officer” to oversee consumers’ ability to actually drive the product.
The thing is, I’m almost positive GM does have an executive in charge of “drivability” or something. So maybe this Drinker Biddle idea isn’t totally off the wall…
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 seven years. You can reach them by email: firstname.lastname@example.org.
Please note that Evan Jowers and Robert Kinney are still in Hong Kong and will stay FOR THE REMAINDER OF THIS WEEK. We still have a handful of available slots for meetings with our Asia Chronicles fans. If we have not been in touch lately, reach out and let us know when we could meet! There is no need for an agenda at all. Most of our in-person meetings on these trips are with folks who understand that improving a legal practice through lateral hiring is an information-driven process that takes time to handle correctly.
Regarding trends in lateral US associate hiring in Hong Kong, we of course keep much of what we know off of this blog. Based on placement revenue, though, Kinney is having one of our most successful years ever in Asia. We are helping a number of our law firm clients with M&A, fund formation, cap markets, project finance, FCPA and disputes openings. These are very specific needs in many cases, so a conversation with us before jumping in may be helpful. As always, we like to be sure to get the maximum number of interviews per submission, using a well-informed, highly targeted, and selective approach, taking into account short, medium and long-term career aims.
Making a well informed decision during a job search is easier said than done – the information we provide comes from 10 years of being the market leader in US attorney placements at the top tier firms in Asia. There is no substitute for having known a hiring partner since he/she was an associate or for having helped a partner grow his or her practice from zip to zooming, and this is happily where we stand today – with years of background information on just about every relevant person in all the markets we serve, and most especially in Hong Kong/China/Greater Asia. So get in touch and get a download from us this week if we can fit it in, or soon in any case!
The legal industry is being disrupted at every level by technological advances. While legal tech entrepreneurs and innovators are racing to create a more efficient and productive future, there is widespread indifference on the part of attorneys toward these emerging technologies.
When the LexisNexis Cloud Technology Survey results were reported earlier this year, it showed that attorneys were starting to peer less skeptically into the future, and slowly but surely leaning more toward all the benefits the law cloud has to offer.
Because let’s face it, plenty of attorneys are perhaps a bit too comfortable with their “system” of practice management, which may or may not include neon highlighters, sticky notes, dog-eared file folders, and a word processing program that was last updated when the term “raise the roof” was still de rigueur.