Managing Partner Performance: The One with the Squabbling Partners

In this second in our series focusing on the key issues surrounding partner performance in law firms, Partners Zulon Begum and David Fisher are joined by special guests Nick Jarrett-Kerr and Jonathan Middleburgh from leading law firm consultancy, Edge International, and authors of the book Managing Partner Performance: Strategies for Transforming Underperforming Partners. In this recording, The One With the Squabbling Partners, Zulon, David, Nick and Jonathan discuss: - Why do partner conflicts really happen? Often disputes stem from more than just a clash of personalities; leadership transitions, strategic shifts and remuneration changes can all play a role - The early, and sometimes subtle, warning signs of tension to look out for - The impact on firm culture - leading to associate dissatisfaction, reduced engagement and sometimes partner exits - Financial performance isn't the only metric to measure - low morale and ineffective governance can have undermine long-term success - The importance of open conversations, 360-feedback and mentoring in addressing issues before they escalate - Managing partner exits carefully to avoid legal and reputational risks - the importance of clear policies and procedures - Preventative measures: Establishing a strong firm culture, partner behaviour frameworks, clear governance structures and open communication are key - The crucial role of leadership in modelling behaviour, setting culture and fostering openness to feedback within the firm

In the next episode of our regulatory podcast ReguLaw, Partner and Regulatory specialist, Andrew Pavlovic, and Associate, Liz Pearson are joined by Adam Sher of Fountain Court Chambers. Adam has a broad commercial practice, but has a particular interest in all aspects of legal professional privilege. Adam has been involved in a number of important decisions in this area and frequently speaks and writes on the topic. In this episode Andrew, Liz and Adam discuss: - The concept of legal privilege and how it arises in SRA investigations, including by reference to the SDT case of Joel Woolf. - The SRA’s contention that it can compel the production of privileged correspondence between a solicitor under investigation and his/her client. - The bases for the SRA’s contentions and whether they stand up to scrutiny, including by reference to the case of the Financial Reporting Council v Sports Direct International plc. - How firms/individuals are currently dealing with this issue in practice. - A call to arms for a test case so the SRA’s position can be subject to further scrutiny. We hope you enjoyed this episode of ReguLaw. If you have any questions or would like to feature as a special guest in a future episode, please get in touch with Partner Andrew Pavlovic.

In this third discussion in our series focusing on Private Equity investment in professional services firms, Managing Partner Clare Murray and Partners Corinne Staves and Zulon Begum discuss the key considerations in relation to governance that firms should be thinking about when contemplating PE investment for their firm. In this discussion, Clare, Corinne and Zulon cover: - Current law firm governance structures: What are typical governance models? Smaller firms tend to rely on partner consensus, while larger firms typically delegate authority to management or executive board. Fundamental decisions - such as mergers, capital events and partner admissions/exits - usually remain subject to partner approval. - The governance changes introduced by PE investment: What specific governance changes might PE investors expect? - Cultural impact and partner dynamics: Is your firm culturally ready to shift from an owner-manger model to accept investor involvement? What challenges can arise from unanimity clauses, and how can leadership manage the threats sometimes posed by dissenting partners? - How to prepare for PE investment: What are the key steps for firms to follow before seeking investment, and how can they mitigate governance risks? - Impact on talent retention and recruitment: Does governance affect a firm's talent strategy? What attracts talent to a PE-backed firm over others? - Top tips for law firm leaders considering PE investment: What should leaders assess before proceeding? How can governance changes be aligned with long-term objectives? If you would like to discuss any aspect of private equity investment in relation to your firm, or if you have any questions arising from this recording, please contact Managing Partner Clare Murray, or Partners Corinne Staves or Zulon Begum.

In the next episode of our regulatory podcast ReguLaw, Partner and Regulatory specialist, Andrew Pavlovic, and Associate, Liz Pearson are joined by Michael Evans of Byfield. Byfield are market leaders in providing reputation counsel to law firms and individuals facing regulatory investigations and proceedings and Michael has significant experience in this area. Andrew, Liz and Michael discuss how firms and individuals can attempt to manage the consequences of an SRA investigation and potential SDT prosecution at various stages of the process, including: - The investigative stage – the potential for publication at this early stage and the preparatory steps that firms and individuals can take; - The referral stage – how to manage concerns about the impact of publicity on mental/physical health and how individuals/firms can handle the unpredictability of the timing of publication on the SRA’s website; - The hearing - the SDT’s new Automatic Disclosure Policy, and the impact this is likely to have on the press coverage of proceedings going forwards. We hope you enjoyed this episode of ReguLaw. If you have any questions or would like to feature as a special guest in a future episode, please get in touch with Partner Andrew Pavlovic.

In this panel discussion, subject specialists share their expert insights into the interesting and challenging features of LLPs that they have seen over the last 25 years and what they see approaching on the horizon for LLPs. Jeremy Callman (Ten Old Square), Dr Robert Millard (Cambridge Strategy Group) and Corinne Staves (CM Murray LLP) join chair Sarah Chilton (CM Murray LLP) to explore the key benefits of using LLPs in professional services, the trends they have seen – including in LLP disputes – key tax changes and issues, strategic considerations as well as what the coming years may hold for LLPs. Their discussion addresses key questions and topics including: - How has the structure of LLPs developed since birth; what are some of the key elements of different LLP structures and their implications? - Financial services LLPs vs professional services LLPs: the difference in attitudes on mutual trust between partners and duties of good faith at law and in LLP agreements; - The use of English LLPs across the world, their evolution in different jurisdictions and how the increase in larger LLPs has affected strategic decisions; - Risk considerations: tax, regulation, liability and litigation; - Which partner remuneration trends have LLPs imported from other sectors and have they led to more or fewer disputes? - What are the differences, if any, in downward incentivisation between LLPs and more corporate structures? - What does the next 25 years hold for the future of LLPs? If you would like to discuss any aspect of LLPs or if you have any questions arising from this recording, please contact Partners Corinne Staves or Sarah Chilton, both of whom specialise in partnership law.

We are delighted to share with you the recording of our recent webinar International Investigations: Protecting Your Interests Across Borders, where our panel discussed the complex and often challenging practical issues that arise during international investigations. In this webinar recording, chair Emma Bartlett (Partner at CM Murray LLP), Adam Tolley KC (Barrister at Fountain Court Chambers), Harry D Jones (International Employment & Labor Law Chair at Polsinelli) and Sarah Chilton (Senior Partner at CM Murray LLP) discuss the key differences between US and UK investigations cultures and their impact on outcomes, in particular: - The process for sharing data both internally and across borders, including with third parties such as investigators. - What specific information is shared, including with whom and the timing, within the business and among the executive board and senior leadership? - What protections are in place for both those being investigated and complainants, in particular relating to health-related impacts and discrimination risks? - Effective reputation and crisis management techniques as part of an investigation. - The complexities of legal privilege in cross-border investigations.

We are delighted to share with you a recording of the discussion Is The Glue That Holds Partnerships Together Coming Unstuck? which took place at an event we held recently in London. The discussion explored the evolving dynamics of professional partnerships and the challenges they face in today's complex legal and business environment. Taking place in a Samoan Circle format, it enabled any attendees who wished to contribute to the debate to step into the circle during the course of the discussion. Co-facilitated by Sarah Chilton (Senior Partner, CM Murray LLP) and Zulon Begum (Partner, CM Murray LLP), the recording captures the first 20 minutes of the discussion with the opening speakers, in particular: - A critical examination of what constitutes a partnership, the key challenges faced by law firms and professional services in the current economic climate. - What is the 'glue' that holds a partnership together? In particular, loyalty, shared values and the cultural significance of a partnership. - Is trust, a fundamental element of partnerships, being eroded in larger LLPs where loyalties may be more aligned with the organisation than its individual partners? - The impact of scale: While scale can lead to centralisation and loss of entrepreneurialism and individual autonomy, it can also provide resources for innovation and growth. - Cultural dynamics: A focus on how shared goals and collaboration can foster a sense of belonging and purpose among partners. - The challenges faced by founder-led firms in transitioning leadership to a new generation. Can successors maintain the entrepreneurial spirit of the original founders? - The value of diverse viewpoints within a partnership, with a mix of personalities and approaches helping to enhance a firm's adaptability and attractiveness to clients. - What does it mean to be a partnership in today's professional landscape? How traditional values can and should co-exist with modern business practices to create resilient and effective partnerships. Opening speakers: - Andrew Cromby, Regional Office Head, Weightmans LLP, London; Partnership Litigator and Mediator - Peter Duff, Principal Consultant at PSFI and former Chairman of Shoosmiths - Greg Jackson, Law Firm Strategist & Consultant, PWC - John Machell KC, Serle Court, Partnership & LLP Silk - Moray Mclaren, Board Advisor to Law Firms and Co-Founder of Lexington Consultants - Corinne Staves, Partner, CM Murray LLP, Partnership & LLP Specialist Co-facilitators: - Zulon Begum, Partner & Co-Head of Partnership Team (Non-Contentious), CM Murray LLP - Sarah Chilton, Senior Partner & Co-Head of Partnership Practice (Partnership Disputes), CM Murray LLP Thank you to everyone who attended the event and participated in the discussion.

In this podcast focusing on global legal expansion, Partners Corinne Staves and Zulon Begum are joined by special guest Robert C. Bata, Founder and Principal of Warwick Place Legal, for a detailed discussion on trends from 2024, insights from the Warwick Place Global Expansion Index and predictions for the year ahead. Listen to the full episode here and see below for more information. In this podcast, Corinne, Zulon and Robert discuss: Geographical trends in international expansion: - Increased interest in the US market, driven by recent mergers - UK firms strengthening their positions in Europe with more office openings compared to US firms - The focus of US firms on the Asia market, in particular Singapore - Growth in Latin America, highlighted by the Perez Llorca merger in Mexico - Continued interest in the Middle East, despite geopolitical challenges The drivers for expansion: - Global economy and weaknesses in European economies, leading to increased M&A opportunities - A strong interest in sectors such as leveraged finance, healthcare, life sciences and litigation - The role of AI in shaping legal practices and their competitive advantage Challenges facing firms considering international expansion: - Being clear on the reasons for expansion and the specific jurisdictions to target - Navigating the tax implications and regulatory compliance, in particular regarding profit-sharing and liability - Cultural alignment when merging different firm cultures and the associated impact on remuneration models and operational practices Predictions for 2025: - Continued emphasis on UK firms seeking US market entry, with potential for significant mergers - Growth in disputes-focused practices and the impact of KPMG entering the legal services market - Potential developments in India regarding legal services liberalisation If you have any questions arising from this recording, or would like to discuss international expansion in more detail, please contact Partners Corinne Staves and Zulon Begum of CM Murray LLP or Robert C. Bata of Warwick Place Legal.

We are delighted to share the next episode of Practice Across the Pond, where we discuss the regulatory and ethical approaches taken to various matters from both a UK (England and Wales) and US (New York) perspective.   In this episode, CM Murray LLP Partners Corinne Staves and Zulon Begum and Devika Kewalramani, Partner and General Counsel at FisherBroyles, are joined by Steve Lueker, Partner at Moses & Singer, to discuss the key challenges and issues for professional services firms in relation to transatlantic structures.  In particular, Corinne, Zulon, Devika and Steve discuss: - An overview of common structures in professional services and key considerations to take into account, including regulation, tax, and liability   - The complexities of achieving full integration and strategic insights on alternative approaches that can be taken   - Regulatory considerations in the US, focusing on the extent to which non-lawyers can have a stake or influence a law firm   - Key factors from a US perspective, addressing what works for both domestic firms and those with an international footprint   - Challenges in US/UK transatlantic mergers, including issues such as profit sharing, cultural differences, tax implications and the distinctions between cash and accrual accounting   - Knock-on regulatory issues, such as conflicts of interest   - Essential considerations for firms planning a transatlantic combination If you would like to discuss transatlantic structures in more detail, or if you have any questions arising from this recording, please contact Corinne Staves, Zulon Begum, Devika Kewalramani or Steve Lueker.

We are pleased to introduce a three-part podcast series focusing on investigations, where Emma Bartlett, Partner, and Gabrielle Lintott, Associate, at CM Murray LLP, are joined by special guest, Emily Kaufer, Senior Director of Human Rights and Harassment at Air Canada. In this first recording, Emma, Gabrielle and Emily discuss domestic violence and sexual harassment related investigations, with a particular focus on the following: - The law on preventing sexual harassment in the workplace in Canada and the United Kingdom, including a discussion surrounding the extension of the primary workplace and alleged harassment or other inappropriate conduct which occurs outside of the workplace, and how employers should approach and investigate allegations of sexual harassment. - Domestic violence or family violence in the workplace, specifically, the varying obligations on employers in Canada and the United Kingdom to prevent, investigate and manage allegations of domestic violence, and how employers might be alert to and support employees who may be the recipient of domestic violence. - The recently introduced mandatory duty on employers in the United Kingdom to take reasonable steps to prevent sexual harassment in the workplace (a preventative duty), with a discussion as to what those reasonable steps could include and those steps which might have a meaningful and real impact in preventing sexual harassment. - The importance of fostering a “speak-up” culture, including by ensuring that an investigation is undertaken independently, thoroughly and fairly, and by someone who understands/has knowledge around what is likely to constitute sexual harassment or domestic violence, and who can objectively make findings, even where such findings might be detrimental to the business.