The last word: Machines and myths

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The last word: Machines and myths

‘Everyone is on their own voyage of discovery. But is any law firm leveraging AI in a material way? I don’t think they are – yet.’

Derek Southall, Gowling WLG

Can legal AI match the hype? Legal Business asks key figures about the future for law technology


PUBLICITY KING

‘Of course they’ll have prices, but then you’ll try to work your way around those prices. The reason you’re seeing lots of press releases that say “law firm signs up to use [tech provider] Kira” is because Kira will give you a discount if you do that. Honestly, “law firm uses Kira” isn’t really news, let’s be brutally honest. But Kira will say: “I’ll give you a 10% publicity discount if you do it.” Why not? Why wouldn’t I do that? That then helps Kira to tell a story that says Kira is already being used by Clifford Chance, Linklaters, Freshfields… Suddenly if I’m law firm number 72 and I see all these big law firms, I’m thinking, shit, I’d better use that too.’

Nick West, chief strategy officer, Mishcon de Reya

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The last word: 2017 – the year ahead

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‘There is a pause in the activities firms like ours service. The question is, for what? Business may get used to a continuum of uncertainty.’

Steve Cooke, Slaughter and May

After a year of mergers, Brexit, and Trump, law firm leaders reflect on the 12 months gone by and size up the year ahead

 

A COMPLETE WORLD

‘The world has become more complex, and clients are looking for advisers who can cut through the red tape and help them navigate the choppy waters. That’s our sweet spot – the harder a deal becomes the more we feel at home.’

Charlie Jacobs, senior partner, Linklaters Continue reading “The last word: 2017 – the year ahead”

The Last Word: Merger mania

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‘Consolidation is an inevitable response in a market such as ours. There is only so much work, and we are all under pressure to be more efficient.’

Mark Rigotti, HSF

Following the proposed combination of CMS Cameron McKenna, Olswang and Nabarro, we asked law firm leaders their views on consolidation in the City

 

Global ambition

‘The demands our clients place on us to be ever more global, to handle matters that cross multiple borders, and to provide a comprehensive and quality-consistent service across a broader spectrum of expertise and geographies, means these ambitious mergers and combinations in the legal industry are inevitable and will likely continue apace. The trick to whether they will stick, though, is in the integration; it’s easy to do a merger, but it’s hard to really become merged – truly one partnership, one offering.’

Tamara Box, managing partner for Europe and the Middle East, Reed Smith

 

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The Last Word – My way

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‘Do not come to a problem from dogma or rigid ideology.’

Tony West, PepsiCo

As part of our Insight report on GC leadership, we asked senior in-house counsel how to lead from the front

Be consistent

‘You’ve got to be conscious that you cast a powerful shadow in the team so you need to be consistent in behaviour, beliefs and core message. You need to paint a clear vision and strategy and ideally create it with the team to get buy in. A good leader stretches the team while trusting it to do its own thing.’

Suzanne Wise, group general counsel and company secretary, Network Rail

 

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The Last Word – Place your bets

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‘People want to be in a firm that is winning better work and achieving better results. There’s been a shift in expectation levels.’

Juan Picón, DLA Piper

From post-Brexit investment to the threat of accountants, LB100 leaders tell us how the cards are stacked


Moving quickly

‘As a firm which is investing outside the UK, the cost of investment has gone up, but the returns have also gone up, so you’ve got to put a premium on being able to identify the right opportunities and be able to get return back quickly. When times are uncertain people often try to hang on to cash.’

Peter Hasson, chief executive, Clyde & Co

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The Last Word – Brexit

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‘The idea that regulation is all from Brussels and the UK is deregulatory is a fantasy. That is just rubbish.’

James Palmer, Herbert Smith Freehills

In the wake of the shock 23 June referendum result on EU membership of the UK, we asked leading lawyers for their thoughts

 

Relationship counselling

‘The important thing we need to remember is that this vote doesn’t only change the UK’s relationship with the EU, it changes its relationship with the rest of the world as a lot of our trade deals are through the EU.

On a human level, we have a number of lawyers and business services people in the UK who will want to know what their position will be. I said: “You’re an important part of Linklaters, so don’t worry about it.”‘

Gideon Moore, managing partner, Linklaters

 

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The last word – Charlie says

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In response to an opinion piece from Gibson Dunn’s Charlie Geffen in our last issue, we ask management if firms must decide whether they are advisory or legal process driven

 

US PITCH

‘Geffen is right, but I wonder if he would have said it if he’d been at his old firm [Ashurst] as it’s a pitch for US firms in London. Clients are increasingly separating what is strategic and what is process-driven. I don’t agree that the UK firms aren’t capable of giving both, and no client out there will go to law firm A for their strategic work then take it off them and give law firm B the process work. Clients are looking to us to ensure the process end is done efficiently.’

Colin Passmore, senior partner, Simmons & Simmons

 

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The last word – Swoop to conquer

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With the publication of our annual Global London report, leading figures at US law firms in the City weigh up a volatile market


COMPELLING ALTERNATIVES

‘Global corporates, wherever they are headquartered, are increasingly recognising that we provide the same depth and quality as the Magic Circle in London but also with a global platform that extends into the US. Outside of the US, it is comparable with the Magic Circle. When you put that proposal to a global corporate, then we can provide a compelling alternative as we can speak in English and American accents.’

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The Last Word: Divide and conquer

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We canvassed City partners and in-house counsel for their views on the Law Society and the state of representation in the profession


LATE TO THE PARTY

‘I endorse what the Law Society is doing, particularly chief executive Catherine Dixon. What she’s doing to try to boost representation for the in-house community is laudable and to be encouraged. The difficulty it’s got is that it came to the game slightly later than others and it would admit that. If you look at the number of bodies and institutions that are there to assist in-house, they’re competing and therefore it makes life more difficult. My limited experience is the Law Society is doing the right thing. We would support them but there’s a long way to go.’

Robert Ivens, head of legal, Marks and Spencer

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