Biglaw

The Biglaw Firm That Keeps Losing Partners Is Revamping Their Leadership Structure

The firm has created a new role to support "law firm 2.0."

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Elizabeth Acee

We’ve been talking about LeClairRyan an awful lot in 2019.

And it’s with good reason: the Biglaw firm lost 20 partners to the bustling lateral market in January alone. Plus there are the 42 partners who departed the firm in 2018, and, as Law.com reports, the firm’s revenue has been on the downswing in recent years:

The changes come at a time of continuing lateral departures at LeClairRyan, and amid sustained revenue decreases at the firm in recent years. The firm’s gross revenue fell from $163 million in 2015 to $142 million in 2017, according to Am Law 200 figures, with declines continuing into 2018.

Despite these… challenges, the firm has put on a brave face, claiming they are creating “law firm 2.0” because of a partnership with alternative legal service provider, UnitedLex. Together they’re launching ULX Partners LLC, to provide nonlegal operations for law firms. To further support these changes, the firm has created the leadership role of president, which will share executive duties with the firm CEO.

Yesterday, the firm announced litigation head Elizabeth K. Acee is the firm’s new President, and she’ll be working with Chief Executive Officer C. Erik Gustafson in leading the firm forward:

“Lizz has been an essential partner and leader in helping address the changes being driven by shifts in the legal marketplace, particularly as we move toward a next-generation law firm model,” Gustafson said. “Our Board of Members shared in my enthusiasm in elevating her to the President role. This signals not only the firm’s commitment to that vision, but also confidence in her ability to lead us forward.”

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Congratulations to Acee on her new role. Hopefully, this is a harbinger of good things to come for the firm.

Earlier: Biglaw Firm Loses Over A Dozen Partners As More Firms Spread To Boston
Biglaw Firm That Just Lost Over A Dozen Partners Loses Even More
The Partner Departures At This Biglaw Firm Are Really Piling Up

headshotKathryn Rubino is a Senior Editor at Above the Law, and host of The Jabot podcast. AtL tipsters are the best, so please connect with her. Feel free to email her with any tips, questions, or comments and follow her on Twitter (@Kathryn1).

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