At the beginning of 2010, McDermott Will & Emery moved to a new firm management structure: Two co-chairmen share the top leadership position that, at most firms, is held by a single partner. In this article, we explain the reasoning behind the move to this model, and how the advantages of the “co-chair model” outweigh the potential risks and disadvantages.
When we were elected co-chairmen in 2010, we faced the challenge of running a firm with over 1,100 lawyers and thousands of clients spanning 16 offices in seven countries in a global legal environment undergoing rapid and deep change. Our firm, like most of our peer firms, had not changed its senior management structure in decades. We thought that this adherence to the old ways required, at a minimum, a re-evaluation and re-assessment of whether there was another model that made more sense for our firm.
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