More Law Firms Making Changes to Deliver More Value

Clients reported 20.2% more law firms this year than last in making changes to the way they deliver services to add more value. This translates to an additional 50 more firms. These firms are simplifying work processes, using non-lawyers, non-partner track lawyers and a host of other tools, as we outline in BTI Legal Innovation and Technology Outlook.

Please join us in congratulating these value-adding firms:

Best of the Best

• Gibson Dunn
• Jones Day
• Latham & Watkins
• Littler
• Skadden

Leaders

• Akin Gump Strauss Hauer & Feld
• BakerHostetler
• Cooley
• Dentons
• DLA Piper
• Eversheds Sutherland
• Greenberg Traurig
• Hogan Lovells
• Hunton Andrews Kurth
• Jackson Lewis
• Morgan Lewis
• Reed Smith
• Sidley
• Wachtell, Lipton, Rosen & Katz

Clients Say Tech Savvy Harder to Find

Law firms able to earn the tech-savvy distinction dropped 9.2% from last year, with 109 firms making the cut this year. This down from 200 law firms in 2017. Clients tell us, like the Movers & Shakers, law firms are looking the same—making it harder than prior years to leave an imprint on clients. 

Please congratulate these tech-savvy firms:

Best of the Best

• Dentons
• DLA Piper
• Latham & Watkins
• Ogletree Deakins
• Seyfarth Shaw

Leaders

• Akin Gump Strauss Hauer & Feld
• Baker McKenzie
• Cooley
• Hogan Lovells
• Jones Day
• King & Spalding
• Littler
• Morgan Lewis
• Orrick
• Skadden
• White & Case

Learn how clients spot tech-savvy firms in the new BTI Brand Elite 2019: Client Perceptions of the Best Branded Law Firms.

Clients See Fewer Movers and Shakers

After a solid 6 years of increase, clients see fewer law firms moving and shaking. Clients tell us more law are doing the same new things—making it less innovative. Overall, the number of law firms clients see as movers and shakers dropped 4.2%.

Clients named 3 fewer firms to the Best of the Best list and 9 fewer in total. This innovative attribute measures those adding value by delivering services or behaviors others do not.

Please join us in congratulating this year’s innovative movers and shakers:

 
 
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Learn what it takes to be a mover & shaker in the new BTI Brand Elite 2019: Client Perceptions of the Best Branded Law Firms.

Fewer Bet-the-Company Law Firms

The number of law firms clients think can handle bet-the-company matters fell by 16.1%, down to just 94 firms this year. As the complexity and stakes clients face grow higher, clients are becoming more selective and are dramatically raising their expectations.

Join us in congratulating the following firms with the best bet-the-company brands:

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Learn how to gain the coveted bet-the-company status in the new BTI Brand Elite 2019: Client Perceptions of the Best Branded Law Firms.

Clients' Short Lists Get Longer

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Everyone wants to be on the short list. And clients are adding to them, lengthening their lists by 6.4% this year over last. The short list is the first stop before clients make a hiring decision. The process starts with the firms on the short list and moves on from there.

The law firms enjoying a strong position on clients’ short lists in the just-released BTI Brand Elite 2019 are:

 
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Learn how to earn and keep a spot on clients’ short lists, in the new BTI Brand Elite 2019: Client Perceptions of the Best Branded Law Firms.

Fewer Premium Worthy Law Firms

Clients are facing more complexity and uncertainty than ever before—the Economic Policy Uncertainty Index is at an all-time high. Clients gladly pay premiums for the firms who are comfortable with uncertainty and can simplify the complex. The number of firms meeting this threshold dropped substantially—a steep 22.4% from last year.

Law firms enjoying a coveted spot on the premium worthy list in the just-released BTI Brand Elite 2019 are:

 

Best of the Best

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• Davis Polk
• Gibson Dunn
• Kirkland & Ellis
• Latham & Watkins
• Morgan Lewis
• Paul, Weiss
• Skadden
• Sullivan & Cromwell

Leaders

• Arnold & Porter
• Baker McKenzie
• Cooley
• Cravath, Swaine & Moore
• Debevoise & Plimpton
• Dechert
• DLA Piper
• Fried Frank
• Hogan Lovells
• Jones Day
• King & Spalding
• Mayer Brown
• McDermott Will & Emery
• Pillsbury
• Sidley
• Weil
• White & Case
• WilmerHale

 

Learn how to earn premium worthy status, and keep it, in the new BTI Brand Elite 2019: Client Perceptions of the Best Branded Law Firms.

Skadden Reclaims Best Brand: 18 Firms Move Up in New BTI Brand Elite

Skadden reclaims its position as the best-branded law firm. Benefiting directly from the increased complexity and uncertainty clients face—clients rank Skadden as the firm to turn to in bet-the-company situations more than any other firm.

Fully 18 firms in the 28 Brand Elite firm improved their brand over last year. These firms include:

 

• Skadden
• Morgan Lewis
• Gibson Dunn
• Kirkland & Ellis
• Reed Smith
• Hogan Lovells
• McGuireWoods
• Davis Polk
• Seyfarth Shaw

• Orrick
• Paul, Weiss
• King & Spalding
• Covington
• Mayer Brown
• Norton Rose Fulbright
• Squire Patton Boggs
• Ropes & Gray
• Quinn Emanuel Urquhart & Sullivan

 

Quinn Emanuel makes its debut on the BTI Brand Elite—the 28 law firms with the best brands. Quinn is on an ever-growing number of clients’ short lists and has improved its client experience to the point where the firm’s brand is among the elite—and attracts inbound referrals.

A total of 6 law firms return to the BTI Brand Elite:

 

• Seyfarth Shaw
• Orrick
• King & Spalding
• Covington
• Squire Patton Boggs
• Ropes & Gray

Only 7 law firms earn a place on the BTI Brand Elite for all 8 years we have ranked law firm brands. Please join me in congratulating:

 

• Skadden
• Jones Day
• Morgan Lewis
• Hogan Lovells
• Sidley
• Baker McKenzie
• Wachtell, Lipton, Rosen & Katz

You can learn about the detailed changes in your firm’s brand and compare it to competitive law firms with your copy of BTI Brand Elite 2019: Client Perceptions of the Best-Branded Law Firms, available now.

BTI conducted more than 694 interviews with top legal decision makers to single out the law firms with the best and strongest brands. Each of the CLOs provided detailed answers and explanations—and have deep opinions about law firm brands.

12 Tactics Branding Your Law Firm and Boosting Hirability

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A better brand means better hirability—a strong brand makes you much more attractive to clients.

BTI’s brand new research with corporate counsel shows 28% of law firms are strengthening their brand in the eyes of clients. Of these, more than half improved their brand to be ranked at all-time highs—making them the firms to beat to win new work.

36.8% of law firms suffered a drop in their brand, as ranked by clients. Top legal decision-makers see the brands of these firms as having less impact on decision making—so getting hired is harder. A weaker brand means you do more work to get access to new business.

The most common way law firms dilute their brands is inaction; particularly in the face of more aggressive firms actively building the strength of their brand in the market.

Only a few actions truly impact the strength of a law firm’s brand in the eyes of clients—these are broken into 3 categories:

  1. Direct Experience

  2. Transferred Experience

  3. Indirect Experience

Direct Experience

Direct experience will always be the strongest driver in leaving your brand imprint on a client. This includes:

  • Delivering legal services

  • Well-designed websites

  • Client service initiatives; including client feedback, client teams, and client service standards

  • Your pitches

  • Watching your firm from the other side of a matter

  • Attorney bios

  • Interactive thought leadership (such as custom CLEs, webinars, and training sessions)

  • Value-driven digital conversations (typically social media and blog interactions where clients learn new approaches to better manage risk)

  • Memorable encounters where clients and prospects quickly see the direct impact you can have on their business; typically, these occur by active participation in:

    • Trade Associations

    • Industry networking opportunities

Transferred Experience

Transferred experience is the 2nd most powerful way your brand is built up in clients’ minds. This type of strength is built through:

  • Referrals and recommendations

  • Client-to-client conversations about law firms

  • Client comments about law firms in:

    • Articles

    • Social Media Posts

Indirect Experience

Indirect experience ranks 3rd in the small set of activities able to leave a positive imprint on clients, including:

  • Passive, but relevant, thought leadership, such as:

    • White papers

    • Speeches at industry events

    • Quotes in publications

    • Email newsletters—with personal commentary on the relevance to the client

    • Non-custom seminars and events

    • Generic websites

On the other hand, there are a number of activities proven to have a limited impact on clients and prospects—and can sometimes even confuse and dilute brands. These low-impact experiences include:

  • Traditional advertising

  • Brochures

  • Single sponsorships

  • Entertainment

The law firms with improved and better brands are going out of their way to drive more direct experience with clients and prospects. Look for more on exactly how they are doing this in a future post.

You can learn exactly where your law firm stands, including a history and comparison to 8 law firms of your choice, in the about-to-be-released BTI Brand Elite: Client Perceptions of the Best Branded Law Firms 2019.

MBR

Law Firms Embrace Funky Billing, Go Rogue

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Clients are seeing the funkiest and even what they describe as “slippery bills” from their law firms. We are not talking about isolated incidents; fully 38% of clients tell us about slipshod bills—doubling the 19% of last year. Why are clients using such strong language? Judge for yourself:

 
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And then consider:

 
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Law Firms Going Rogue

Clients reporting rogue law firms triples to 20%, up from a mere 6.8% last year. These top legal decision makers point to law firms performing what they sincerely believe to be unauthorized work. This includes research, negotiating with the other side, agreeing to new terms and conditions, and communication to the other side without pre-authorization. And, clients learn about the work in the worst ways—from the other side or through deciphering invoices and figuring it out.

Clients realize scope changes happen and law firms may have to do work not easily anticipated. What they don’t understand is why they learn about it through invoices or by accident. Clients believe most of these changes can be seen in advance and they have a right to know— it’s an entitlement—not a courtesy.

The Antidote

Unfortunately, this impacts all law firms as clients up their scrutiny and question scope more. There is no better antidote than keeping your clients in the loop. Update clients before they ask. Share any new events in real time, inform clients when there is no change in circumstances, and even when things are going just fine. Don’t use invoices to communicate progress or staffing plans—over communicate to make sure your client not only knows—but hears what you are saying.

MBR

Only 7 Things Drive Law Firm CMOs Crazy

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CMOs are quick to point out how the attorneys are the best part of the job. But, some attorneys do a good job of driving them absolutely crazy.

4 of the 7 sources of CMO frustration start with attorneys—a small number of attorneys, but attorneys none the less. Attorneys don’t have an exclusive on driving CMOs to the brink—daily life and strategic issues play their role too.

Let’s talk about the attorneys first.

4 types of attorneys are driving CMOs crazy. They break down into the following groups:

Marketing and Business Development Skeptics

About 10% of attorneys are true Marketing and Business Development (MBD) skeptics. These attorneys don’t see how CMOs can help them—and show no interest in learning. Some are loud and vocal, and openly question your plans and attempts to help. Other MBD skeptics question CMOs in private because they are in the clear minority—but take up too much air time in the CMO world—and drive them crazy.

The Apathetic

Worse than MBD skeptics, these attorneys just don’t care about MBD initiatives. They go along as if the MBD department isn’t there. They interact only when they absolutely have to—and sometimes even then they ask not to be included.

The Jerks

They still exist—and do a great job of driving CMOs crazy. The jerks bring unpleasant, and sometimes nasty comments. They are more troublesome than the 2 groups above because they are loud, active, and go out of their way to share their thinking. The best CMOs learn to let this water run off their back and move on. Fortunately, the number of jerks has decreased to less than 5% of all partners, but their impact is much larger than their footprint suggests.

Distracted Attorneys

Attorneys can have short attention spans. But the distracted attorneys bring new meaning. These often well-meaning attorneys, move from one topic to another with lightening speed. They don’t stay in place long enough to get any traction—and they request individualized help to support their ongoing stream of ideas.

Moving away from attorneys, CMOs point to the following 3 issues as driving them crazy:

Directories and Rankings

The workload and high attorney demand drive CMOs crazy. Attorneys bring a high emotional investment in making the rankings—but most of the workload falls squarely in MBD department. This can be a double whammy because a small but measurable number of the attorneys not making the rankings become jerks and skeptics.

No Strategy

These CMOs are working hard but are not sure where they are going. They see no sign of a firm strategy or vision. This not only dilutes the CMOs’ efforts but takes away guiding light. These CMOs are among the few who have a bird’s eye seat to multiple strategies and wasted resources. These same CMOs see the power of using the resources for a limited number of strategically coordinated initiatives.

Workload

Think of it as a form of job security. Demand exceeds marketing supply. CMOs face a continuing stream of RFPs before adding in all the daily tasks of running the department—mentoring, partner requests, events, web updates, PR, special projects, and a string of strategic initiatives like client teams, client feedback, and industry teams. Simply put, the CMO cup runneth over.

BTI’’s exclusive research shows the largest firms (think Am Law 30) are adding staff, as are the Am Law 31 to 100, and the Am Law second 100. This is not enough staff to fuel the demand. But the resource-short departments learn to prioritize and manage expectations to deliver what their firms need and expect.

The Good News

Successful CMOs know how to successfully navigate these frustrations—and they would do it all again. They know what experience counts and what’s worth caring about. As we discussed a few weeks ago, the most successful CMOs also shared 7 lessons they learned to make sure they don’t let their responsibilities or people they deal with drive them crazy. You can’t read this advice too many times.

MBR

22% of Clients Bring on New GCs: New Game, New Rules, New Rates

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22% of clients are disrupting the market right now. These are the new GCs. Half of these have been in place for less than 12 months. Another half have been in place 23 months—just enough to get their sea legs. We see 2 big implications for law firms:

  1. This is only the beginning of a trend. The growth rate in retiring baby boomers will increase before it drops—expect a steady stream of new GCs. Plan ahead and develop a standard set of protocols to welcome all new GCs—and build yourself some serious relationships with this untapped source of new business.

  2. Almost every new GC puts out an RFP for legal services somewhere between 18 and 24 months into their tenure. Take control and offer to help write the RFP. Avoid the RFP by introducing yourself and befriending the new GC early on. Help with onboarding and start the conversation about complexity.

Here is what these new GCs are thinking and facing:

Starting When Risk is the Highest it’s Ever Been

The new GCs entire tenure started as the surge in risk and uncertainty hit the market. This is their version of normal. They look at life solely through a high-risk filter—quickly assessing situations, comfortable with intuition combined with data, and are looking for someone to share opinions with. They know their success demands they make decisions and make them quickly.

Comfortable with Complexity

The new GCs dive into complexity head first. They want to sort it out into its component parts and solve the core issues. They want outside counsel who is comfortable dealing with complexity and unequivocal in their approach—and advice.

Total Cost is More Important Than Hourly Cost

New GCs look at the big picture when it comes to cost. Hourly rates don’t mean low cost. These new GCs figure out which firms will deliver and what the total budget will be—the firm with the lowest hourly cost rarely offers the lowest total cost.

Working Smarter

New GCs know they are in the best position to spot redundancy, overlapping communications, and processes where their useful life is over but still in practice. They are diving in and making changes in the work process and communications with one goal—streamline. This ability to improve efficiency is unique to new GCs.

Double Whammy—an Acquired Company

A number of new GCs are stepping into merged companies who just made acquisitions. This dual challenge of being new to 2 companies brings out the best in these new GCs as they focus on integrating people and systems—on top of sorting out risks and legal issues.

You Can’t Get Me If You Don’t Talk to Me

New GCs tell BTI they are downright shocked at how few law firms reach out to them when they initially take the reins. These new GCs have their own agendas. Any law firm who fails to reach out is unintentionally telling new GCs they don’t want to get to know them.

Amazing Coaches

A few law firms step up and not only welcome and say hello to new GCs—they also work to provide a successful onboarding experience. The firms share current priorities, history, back story, and offer counsel on how to be successful. These partners are cherished.

BTI’s exclusive research shows the number of new GCs has doubled from 11% in 2014. As we discuss at the beginning of this post—this trend is on the rise. Use it to your advantage.

MBR

7 Ways Client Service All Stars are Different: You Can Implement Them Now

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Each year, The BTI Client Service All-Stars manage to up their game. They know how to push client service beyond its current limits. They know how to break through not only the clutter of competition, but the self-imposed client service limits some attorneys face. Here are 7 examples of superior client service you can learn from, emulate, or just copy.

1. “She knows how to break complexity down into its simplest parts.”

All-Stars sit with their clients and point out where they need to make decisions and where they don’t. They help evaluate the risk with each decision and share their opinions. The Financial Times Uncertainty Index is at an all-time high—corporate counsel face more complexity than ever before—making those who can simplify complexity truly prized.

2. “She always helps me see the business risk and then helps me shape the message to management.”

Top executives never ask corporate counsel about legal risk—they ask about business risk and exposure. Probing executives want answers in these same terms. This is where the BTI Client All-Stars step in—they help articulate the business risk and the current state of exposure. They will test the message and help their client prepare a response.

3. “Any and every commitment is set in stone. He just delivers.”

Certainty in delivery eliminates one big worry for top legal decision makers. Clients want their deliverables so they can be reviewed, changed and thought about before passing them on. The BTI Client Service All-Stars always deliver when they say they will—if not earlier. This certainty is the difference between clients feeling fully prepared or not.

4. “He is down to earth and knows how to get things done.”

No over studying here. The BTI Client Service All-Stars use their experience, insight, analytical skills, and their client’s knowledge to get things done. Things don’t become ethereal and everything is geared towards decision making and action.

5. “She provides pointed and unequivocal advice.”

My recommendation is to be unequivocal—like The BTI Client Service All-Stars. The All-Stars play it straight. They voice their opinion, give their reasons why, and help their clients think things through to completion. These All-Stars are clear and confident. Clients appreciate the candor—even when clients don’t like the recommendations.

6. “It’s like she has a no mediocrity policy.”

Everything comes across uniformly excellent. Not only are thing on-time, they meet high quality standards and client expectations. Everything single email and deliverable from the All-Star’s client team meets these same standards as well. On the rare occasion they don’t, clients consider it an aberration—not a mistake.

7. “He is watching my back even when I am not.”

Providing a list of questions your client may be asked is impressive—providing the answers makes you a BTI Client Service All-Star. Clients tell BTI their All-Stars think about them every step of the way; what to be prepared for—curves balls which may arise, dry-running a presentation, and even shouldering the blame when they make a mistake.

Superior client service is all about finding ways to not only improve—but redefine how clients think about you and what you do for them. There are no structural barriers to become a BTI Client service All-Star—the barriers lie in how we think about what we can ultimately do for clients. Use this post to learn what the All-Stars do—and hopefully, you can use them to come up with new, better, and ground-breaking ideas.   

MBR

Corporate Counsel Single Out 335 Attorneys with the Best Client Service—By Name

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Corporate counsel point to 335 attorneys—by name—who deliver the best client service. These are the BTI Client Service All-Stars 2019.

Corporate legal decision makers single out each BTI Client Service All-Star—by name and in an unprompted manner. No attorney or firm can self-nominate, self-refer, nor pay to be included in this report. Clients have the final—and only—say.

This year’s BTI Client Service All-Stars lineup is robust. We see return performances as well as new All-Stars who make their debut. They are all bound by a single theme—the ability to stand above the rest. A few of note include:

We are particularly pleased to honor 1 BTI Client Service All-Star:

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H. Rodgin Cohen, Senior Chairman,
Sullivan & Cromwell

Mr. Cohen is named a BTI Client All-Star for an astonishing 16 years.

Only 17 attorneys manage to make the BTI Client Service All-Stars for more than 1 year. These individuals can read and stay ahead of client’s rising and ever-changing expectations:

4 Consecutive Years:        

Edward D. Herlihy, Partner
Wachtell, Lipton, Rosen & Katz

3 Consecutive Years:

Ron Chapman, Jr., Partner
Ogletree Deakins
A. Craig Cleland, Shareholder
Ogletree Deakins
Jonathan M. Moses, Partner
Wachtell, Lipton, Rosen & Katz

2 Consecutive Years:

Soumitra Deka, Counsel
Arnold & Porter
Daniel P. DiNapoli, Partner
Arnold & Porter
Marc O. Williams, Partner
Davis Polk
David E. De Lorenzi, Chair
Gibbons
Elizabeth A. Ising, Partner
Gibson Dunn
Brian J. Lane, Partner
Gibson Dunn
John W. Ursu, Attorney
Greene Espel



Monique A. Cenac, Partner
Jones Walker
Kelly C. Simoneaux, Partner
Jones Walker
Andrew S. Marovitz, Partner
Mayer Brown
Peter J. Covington, Partner
McGuireWoods
William P. Geraghty, Managing Partner
Shook, Hardy & Bacon
Sabastian V. Niles, Partner
Wachtell, Lipton, Rosen & Katz

Super All-Stars—2 Attorneys Named by Multiple Clients This Year:

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William P. Aiken, Shareholder
Chambliss, Bahner & Stophel

Mark Filip, P.C., Partner
Kirkland & Ellis

Cultivating Firmwide Success:
16 firms manage to develop more BTI Client Service All-Stars than other law firms. Please congratulate the following firms with more than 5 All-Stars:

Learn exactly what these attorneys do different from everyone else to stand out with legal decision makers and earn a prestigious spot among the client service elite.

Join us as we congratulate each and every BTI Client Service All-Star for their unmatched client service delivery.

You can download the complimentary copy of the full report here.

MBR

Based on more than 350 interviews conducted between March 20, 2018 and February 8, 2019

Who'll Collect the Win? 9 Firms Intent on Edging Out Kirkland and Latham

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Who’s next? Kirkland and Latham are in a class by themselves. So, which firms can get even bigger and create a new class? We asked more than 160 law firm marketing leaders and here’s who they think are the next firms to deliver blow-out growth:

DLA Piper and Dentons

These 2 merger-hungry firms lead the list of firms most likely to pass Kirkland and Latham in growth. Law firm leaders expect DLA Piper and Dentons to find new merger partners—and create 2 new, even larger firms to drive unmatched growth. Whether the mergers occur inside or outside the US remains to be seen—but—the competition expects each firm’s next moves to be big and impactful.

Baker McKenzie

The firm is undergoing major changes to bring together its many pieces into a unified growth machine. The firm closed comp, brought in a strong leader to drive client development, and is becoming much more aggressive in its innovation and thought leadership. This is the strongest effort yet to create the uniformity successful law firms need to scale past the current market leaders.

Hogan Lovells

With a collection of global clients which would make any law firm salivate, Hogan Lovells has the existing base to kick off blazing global growth. The firm’s proven experience in serving and managing global clients paired with its superior client service prowess has law firm leaders watching Hogan Lovell’s next steps—very carefully.  

Jones Day

Boasting one of the best brands and the highest levels of client service, Jones Day is positioned to leapfrog the market leaders. The firm brings one of the strongest cultures of strategic discipline and uniformity across the globe. The partners understand and believe in the firm’s strategy—and the changes in strategy as market demands change. Jones Day understands the legal world is all about its clients—and knows their clients better than most others. All this adds up to outsized growth waiting to happen.

Morgan Lewis

Morgan Lewis is one of the rare firms able to integrate its sizable lateral pool, deliver superior client service, change its approach to the market as needs develop, and is deeply committed to client-facing innovation (dating back over 20 years when Cisco used Morgan Lewis as the poster child for how to use AFAs). Look for the firm to take on more lateral groups and improve its already high-performing global client teams to drive leadership growth levels.

Paul, Weiss

Paul, Weis announced its new growth strategy by picking up Scott Barshay out of Cravath. Not only did it announce the death knell for lock step, it announced the firm was going big. The firm is one of the few with successful lateral integration. The firm’s lateral rainmakers are supported while growing the existing client base firmwide. A longtime client feedback advocate, Paul, Weiss is adding business (and profits) by leaps and bounds.

Quinn Emanuel

Quinn is nothing if not aggressive. Having passed $1 billion last year, you have to believe $3 or $5 billion in revenue is the next goal. The firm takes marketing and business development more seriously than most give it credit for. Quinn targets prime clients and goes after them with a vengeance. It understands how to win work without RFPs. The firm brings in rainmakers able to keep their existing clients while also finding new ones. Quinn is enjoying brand growth—driving more inbound leads. A growing group of clients is coming to terms with Quinn’s representing plaintiffs and defendants—and a few clients see it is a plus.

Skadden

Boasting one of the strongest brands, competitors expect the firm to gain the momentum to go right past Kirkland and Latham. The firm enjoys an institutional client base with large budgets and recurring needs. The brand generates significant inbound referrals. Skadden sits in the heart of the markets showing the most growth—providing a strong tailwind.

Skadden assigns a group of partners to look at business development and client related issues at regular intervals. These groups may not have long lives but a short life span can bring a more thoughtful approach. Our research detected 2 changes to it's business development and client development tactics—both relying on educating clients on leading-edge trends in transactions and litigation. While Skadden has a history of using their knowledge to keep clients current—the tactic is becoming more widespread – developing brand and new business across a wide swath of top legal decision makers.

The Big 4

A smaller number of law firm marketing leaders expect the Big 4 to eclipse law firms in size and growth. The Big 4 can only achieve this by acquisition; this would clearly redefine the business of law as we know it and require some regulatory wrangling.

Nobody No How

11% of law firm marketing leaders believe Kirkland and Latham have a lock on being the fastest to grow. They see these 2 firms as having the strategies to continue being unmatched market leaders.

We eagerly watch the competing landscape unfold. Paul, Weiss and Kirkland will not be the only firms to pluck the best laterals. Other law firms are making large investments in their growth which they believe in their heart of hearts will drive market-setting growth. These firms rarely get noticed during early implementation and “pop up out of nowhere” when they start to grow.

We wish all these firms luck as we track their growth and watch how they navigate one of the most attractive legal markets to appear in almost 20 years.

MBR