As staid and conservative lawyers and their profession may seem, it is undeniable that change is a part of their world. The change that has confronted the legal profession since the collapse of 2008 has garnered a lot of press, but lawyers and their firms have had to adjust to an altering world for a
Lawyer Exodus From the Law Firm: Don’t Get Mad, or Even, Get Focused
Unexpected lawyer departures from a law firm are a far too common occurrence as noted by Above the Law’s recent reporting on K&L Gates. It can happen at any time during the year but many times peaks around the end of a fiscal year. Whether it be disappointing financial results, political infighting, loss
Law Firm Succession Planning 2015: Leadership’s Hidden Challenge (Part Two)
As discussed in my last post, Law Firm Succession Planning 2015: Leadership’s Hidden Challenge (Part One), the confluence of upbeat economic news with generational differences in the lawyer ranks presents a problem for law firm leaders not having an institutional succession plan. The issue is not just theoretical-Altman Weil’s 2015 Law Firms in
Law Firm Succession Planning: An Alternative
Leon Shapiro’s recent “How to Improve Your Organization’s Succession Planning” in Executive Street: The Business Leader’s Resource, reviewed the state of succession planning among many business organizations. Mr. Shapiro’s article noted the near universal recognition of its importance among business leaders, yet their confession that in many cases not enough is done for
Law Firms that Focus on Growth-Where is the Focus?
Dentons and McKenna Long recently announced the intent to merge. Media reporting of the merger was substantial, including an April 8, 2015 article written by Sara Randazzo in The Wall Street Journal. In her Dentons, McKenna Long to Merge, Ms. Randazzo quoted Denton’s global chairman Joseph Andrew as stating, “[O]ur goal was not
Law Firm Merger-What Makes Merger Success Likely?
A headline from last week announced the law firm merger of Dykema with Texas’ Cox Smith. Although Michigan based Dykema already had a foothold in Texas, its merger with well-regarded Cox Smith represents a significant commitment by Dykema to its Texas strategy. The Dykema/Cox Smith combination also is further evidence that law firm mergers
There is a Lot More to Law Firm Succession Planning Than Just Planning
A recent ABA Journal article reported on the demise of a successful law firm that had been in business for 60 years. The story about Harding & Shultz of Lincoln, Nebraska noted comments from one of the senior partners whose departure from the firm allegedly contributed to its demise. Seems that the senior partner, still
Succession Planning at the Smaller Law Firm-Getting it Done
It is no wonder why a lot is written about law firm succession planning. Transferring a law firm onto the next generation so the institution endures is the ideal for most but unattainable for many. Sue Remley’s Succession Planning: How to Hand Your Law Firm to the Next Generation presents the issue clearly and
Succession Planning at the Smaller Law Firm-A Bigger Challenge
In a recent article in The National Law Review about law firm succession planning, Sue Remley offered some great analysis. Ms. Remley’s Succession Planning: How to Hand Your Law Firm to the Next Generation makes the important point that succession planning at law firms is vitally important and should not be ignored. She goes on
Strategy of Merger: Four Steps for Success for Law Firm Leaders