As we head into the second half of the year, economic headwinds appear to be getting stronger. Demand through Q2, particularly for corporate work, is down, albeit only modestly. Citibank’s mid-year report indicates a 0.6% average decline in demand. Expenses are on the rise, due to higher attorney headcounts and the gradual shift towards a return to office. We have written before about managing through headwinds, along with the lessons learned from previous downturns, and it is time to revisit that topic.
This month we interview Betty Temple, the Chair and CEO of Womble Bond Dickinson US, a roughly 1,000 lawyer firm formed through a 2017 combination of US-based Womble Carlyle and UK-based Bond Dickinson. In this interview, Betty discusses the strategic drivers behind transatlantic growth, lessons learned, and key takeaways for firms considering international growth opportunities.
This month we interview Stephen Zubiago, the new CEO and Managing Partner of Nixon Peabody. He took over as CEO and Managing Partner on February 1 and shares his observations on his first six months in the role. Steve has been with Nixon Peabody since 1999 and has practiced law since 1992.
We often work with law firms as they transition senior leadership positions in the firm. Increasingly, firms facing a leadership transition are taking the opportunity to refine their leadership selection process, review the leadership roles and governance structure, and, importantly, clarify the characteristics and capabilities required for leadership roles.
In today’s world, there is no shortage of challenges keeping managing partners awake at night. We see one particular set of challenges receiving insufficient management time and attention in the current environment – talent management. For a variety of reasons, firms simply are not investing the creativity and resources needed to ensure effective talent management in today’s unusual and heavily-virtual law firm environment.