DISSENT: A self-deceiving return to business as usual

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RSG’s Reena SenGupta argues an improving economic climate is leading top law firms to wrongly assume the ‘new’ normal is the same as the old one

In 2010, Georgetown University, under the direction of Professor Milton Regan, held a conference of academics, practitioners and leading thinkers on the profession. To delegates, the atmosphere was heady; change was palpable in the room.

There were no dissenting voices. People knew that there was no turning back for the legal profession. Legal services would be unbundled, equity structures in law firms would change, clients would exert their buying power and demand radically different fee arrangements, Chinese law firms would stride onto the global stage and new technologies and service providers would fundamentally alter the law firm business model. It was going to be, as the title of the conference predicted, a brave new world.

Continue reading “DISSENT: A self-deceiving return to business as usual”

‘Slower than expected growth’ sees Co-operative Legal Services unveil £22m operating loss with flat turnover

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Co-operative Legal Services (CLS) has made an operating loss of £22m for 2013 and unveiled a flat turnover, blaming a slower than expected growth rate for the period and factors including a hit to its personal injury business stemming from the Jackson Reforms. Continue reading “‘Slower than expected growth’ sees Co-operative Legal Services unveil £22m operating loss with flat turnover”

Those thoroughly fashionable provinces – vogue for City players to hit low-cost regions becomes the new black

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Sarah Downey reports on how a regional arm became the hottest accessory for London firms

How the fashions in professional services can change. Having long disdained moving into lower-cost regions, March saw another two top 20 City players announce ‘northshoring’ ventures, with Hogan Lovells and Berwin Leighton Paisner (BLP) confirming moves respectively into Birmingham and Manchester.

Continue reading “Those thoroughly fashionable provinces – vogue for City players to hit low-cost regions becomes the new black”

When futurology becomes reality – LexisNexis gains ABS licence to launch compliance service

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The UK arm of legal publishing giant LexisNexis has been awarded an alternative business structure (ABS) licence by the Solicitors Regulation Authority and hired Duane Morris compliance and technology partner Jonathan Armstrong to spearhead its new business, Cordery Compliance. Continue reading “When futurology becomes reality – LexisNexis gains ABS licence to launch compliance service”

Barclays to offer 80 work experience places as high street bank mulls apprenticeship scheme

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Barclays’ in-house legal team is to offer around 80 work experience placements to students from socio-economic groups under-represented in the legal profession in partnership with its panel law firms this summer. Continue reading “Barclays to offer 80 work experience places as high street bank mulls apprenticeship scheme”

Race to provide direct legal services sees Allianz convert to an ABS

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Last year they hit your television with an advert comparing the stresses of the daily commute and school run to a formula one race but this week multi-billion UK personal and business insurer Allianz entered the race to provide direct legal services to their customers by converting to an alterative business structure, after being granted a licence by the Solicitors Regulation Authority. Continue reading “Race to provide direct legal services sees Allianz convert to an ABS”

Pfizer maintains business-as-usual for legal alliance as Rosenthal latest GC to depart

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It was recognised at its 2009 inception as the most radical attempt to carve up the way bluechips instruct their external advisers within a fixed-fee network, but last week Pfizer confirmed Pfizer Legal Alliance (PLA) chief counsel and assistant general counsel Ellen Rosenthal is leaving, shortly in the wake of the departure of PLA pioneer, former general counsel Amy Schulman.

Rosenthal was instrumental in setting up the PLA alongside Schulman, who created the alliance that sees 19 law firms handle the lion’s share of Pfizer’s legal work on a flat-fee structure, in a still rare example of a move entirely away from the billable hour. Continue reading “Pfizer maintains business-as-usual for legal alliance as Rosenthal latest GC to depart”

PwC forms new law firm in Canada one month after obtaining ABS status

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In the first major development since PricewaterhouseCoopers last month received authorisation from the Solicitors Regulation Authority (SRA) to become an alternative business structure (ABS), the accounting giant announced on 1 March that it has formed a new law firm in Canada by tying up with Toronto immigration outfit Bomza Law Group.

The new firm will be called PricewaterhouseCoopers Immigration Law, and Christopher Kong, national managing partner of PwC Canada’s tax services said: ‘With a range of global employment opportunities and the related complexities to employees and employers, an immigration law firm affiliated with PwC provides an opportunity to help our clients with the mobility of their people.’ Continue reading “PwC forms new law firm in Canada one month after obtaining ABS status”

Comment: paradigm shift or just the mother of recessions? 2014 should answer the profession’s big question

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It’s been obvious that something fundamental happened to the world economy during 2008, ushering in the worst relative trading conditions since the 1930s. It is, likewise, demonstrable that this shift has had a material impact on the legal profession in terms of reduced growth prospects, changing corporate buying habits and pressure on the conventional model of law.

The point that has yet to be resolved – and which has huge significance to the western legal industry – is whether that change represents a permanent structural shift underwritten by technology and the rise of non-law firm providers, or merely a severe cyclical depression from which the profession will in time recover. Continue reading “Comment: paradigm shift or just the mother of recessions? 2014 should answer the profession’s big question”

In-house: face of BT Law to change after Miles Jobling steps aside

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The face of BT Law, having last year secured a licence from the Solicitors Regulation Authority to hive off BT’s successful motor claims business into an alternative business structure (ABS), Miles Jobling has now handed over his lead role to Sheffield-based co-founder Archana Makol.

Makol has become the Compliance Officer of the Legal Practice (COLP) for BT Law, as most of the division’s contracts are processed out of Sheffield and a spokesperson for the telecoms giant explained: ‘The COLP role is very important and needs the person to be very close to the day-to-day operation.’ Continue reading “In-house: face of BT Law to change after Miles Jobling steps aside”