Oversharing? Navigating social media can be fraught but there is much to admire

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Oversharing? Navigating social media can be fraught but there is much to admire

It’s surprising how much conversations around social media have shifted over the last three years. There used to be a tacit understanding that LinkedIn was for professional posts only, deal announcements, partner moves, conferences, market commentary and the like, while Facebook (and Twitter, if you really must) was for everything else. Hilarious memes and posts about your children/pet/culinary experiment/exercise humblebrag had no place on a professional networking platform.

That all changed dramatically with the onset of Covid and nothing to do but use social media as the main means of communicating with the outside world. One contact, who is rather more Gen X than Millennial, bemoaned an internal memo instructing people to show more of a human side in the curation of their Zoom backgrounds and on LinkedIn. Wasn’t this a bit awkward? Do I really want my clients knowing (horror of horrors) the ins and outs of my domestic life? It was a particularly British quandary, a cultural aversion to oversharing; the online equivalent of maintaining a professional stiff upper lip. Continue reading “Oversharing? Navigating social media can be fraught but there is much to admire”

Cautionary tales: The downfall of Ince – a lesson in how not to run your law firm

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Cautionary tales: The downfall of Ince – a lesson in how not to run your law firm

‘In the event of a recession, the lawyers will be fine. They always are. Unless you work at Ince.’

Reflecting now on this remark made by a senior contact last August, it is clear that the writing has been on the wall for Ince for quite some time and that its parent company, Ince Group, going into administration was probably the only realistic outcome of this sorry saga. Continue reading “Cautionary tales: The downfall of Ince – a lesson in how not to run your law firm”

The Last Word: London manifesto

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The Last Word: London manifesto

‘We already have a strong European offering and our current expansion plans are centred on partner-level and team hires that support us in providing our clients with the best possible industry and subject matter experts.’ Tamara Box, Reed Smith

To mark the launch of our 2023 Global London analysis, we ask senior figures at leading US firms for a progress report

Continue reading “The Last Word: London manifesto”

Shearman and Hogan Lovells – better the devil you don’t

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Shearman and Hogan Lovells – better the devil you don’t

This comment piece has been updated to reflect an announcement late on Thursday (2 March) that merger talks between Shearman & Sterling and Hogan Lovells have been called off. In a joint statement, the firms said: ‘As has been widely reported, our firms have been in preliminary and exploratory conversations regarding a possible combination. After careful consideration, we have mutually agreed that a combination at this time is not in the best interest of either firm. We have been deeply impressed with each other’s business, practices and people and wish each other continued success.’

It’s funny how the market gets about law firm mergers. Ringing around various senior lawyers for a hot take on what they thought of a Shearman & Sterling and Hogan Lovells tie-up, most were pretty scathing.

‘A merger of losers’ and ‘a combination of mediocre and mediocre’ were just two pejorative remarks being flung around the Square Mile. Few were kind. Now that the dust has settled on the idea, and I hold my hand up to playing devil’s advocate on this one, these initial reactions strike me as a little churlish. Continue reading “Shearman and Hogan Lovells – better the devil you don’t”

Stopping the bleeding at Travers will require hard-won loyalty and a pay overhaul

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Stopping the bleeding at Travers will require hard-won loyalty and a pay overhaul

Looking at the recent wave of departures from Travers Smith brings to mind fears expressed by peers when we last did a major analysis of the firm back in 2019.

Four years ago, harbingers of doom were quick to jump on the perceived threat to such a UK-centric firm amid Britain’s exit from the European Union. Noted one corporate partner at a US firm at the time: ‘If profit starts to fall post-Brexit, what do you do with Paul Dolman? If Paul left, it would be a killer blow. He is talismanic.’ Continue reading “Stopping the bleeding at Travers will require hard-won loyalty and a pay overhaul”

Much snootiness still remains, but the Vereins are actually fine

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Much snootiness still remains, but the Vereins are actually fine

While Legal Business is not the type of publication to force a tenuous link in order to make a feature topical, isn’t it timely that our Global 100 analysis on law firms structured as Swiss Vereins – ‘Capture the flag’ – coincides with the football World Cup of FIFA (also a Verein)? Continue reading “Much snootiness still remains, but the Vereins are actually fine”

A bonanza year for the Global 100 – is the table about to turn?

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A bonanza year for the Global 100 – is the table about to turn?

It is a treacherous business, making market predictions for the year ahead. Too conservative and the pundit is guilty of clinging to the ‘cautiously optimistic’ soundbite, which is the ultimate in fence-sitting and has become one of the most banal phrases in legal industry history. Too adventurous and you run the risk of being over-zealous in predicting market-altering developments.

Of course, it is better to take a stab rather than be accused of being non-committal. Continue reading “A bonanza year for the Global 100 – is the table about to turn?”

The Last Word: Matchday forecasts

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The Last Word: Matchday forecasts

‘The profitability of firms operating in the US is very high. If that continues to grow not least because the exchange rate has weakened our ability to be dollar-profitable, then sure it’s going to change how people look at investments.’ Tamara Box, Reed Smith

Global 100 leaders and corporate stars give their prognosis on how the market will shape up in 2023

Continue reading “The Last Word: Matchday forecasts”

(Almost) Everything you always wanted to know about TMT*

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(Almost) Everything you always wanted to know about TMT*

Often the most daunting thing about venturing into the unknown is also what makes it the most exciting – you don’t really know how it is going to turn out. The prospect of launching LB’s inaugural TMT Yearbook in 2022 was perhaps no exception, but any niggling fears over the relevance of this new title to our readers were quickly assuaged when we analysed dozens of interviews with the sector’s great and good.

While it is true that every sector has its own particular challenges, opportunities and – frankly – client foibles to contend with, advising TMT clients seems to take that to a whole other level, whether the company is just emerging onto the tech or life sciences scene or is one of the highest-value corporations in the world. Continue reading “(Almost) Everything you always wanted to know about TMT*”