Governance & Management
The management and governance of a professional firm is a great deal more complex than in the corporate world. Managers are primus inter pares (first among equals) and have authority delegated to them by the partnership. To complicate matters, effective management and governance structures are not stagnant: management must evolve as a firm grows, strives for a new market position, or undergoes generational shifts. Different structures are appropriate at different times and firms should be prepared to adjust as necessary.
Fairfax works with clients to develop new and refined governance models that align with the firm’s strategy and needs, while appropriately reflecting its culture. We work with firms to define responsibilities and reporting structures of committees and management roles, to develop selection/election processes for positions and management succession plans, and to design practice group and other organizational structures. Our depth of experience in working with partnerships enables us to design effective and efficient governance and management solutions most appropriate for a firm’s leadership and management culture.