Time after time - veteran law firm leaders reflect on decades at the top
When I call up Nick Thomas, senior partner at Kennedys, he tells me his secretary had left a message that a reporter wanted to speak with "some of the old farts". It's not the exact wording I had used, I explain, but the self-deprecation gives a hint as to why the firm has kept him at the helm for more than 15 years...
January 10, 2013 at 07:03 PM
8 minute read
With multiple terms under their belts, Alex Newman speaks to a band of old hands at law firm management about what it takes to succeed in the top role
When I call up Nick Thomas, senior partner at Kennedys, he tells me his secretary had left a message that a reporter wanted to speak with "some of the old farts".
It's not the exact wording I had used, I explain, but the self-deprecation gives a hint as to why the firm has kept him at the helm for more than 15 years. Eight months into a fourth term, Thomas remains open about his future in the role.
"I've no plans either way for re-election, though, as things stand, I would like to think I'd seek election again. Of course, if I said this is my last term, it would make me a lame duck.
"But equally, if I said now that I'm already planning for re-election, I'd sound a bit like Margaret Thatcher, which for a boy from Chesterfield would be quite painful."
Whether or not Thomas will still be at the crease in five years' time, it is a considerable feat – for both firm and senior partner – to have the continuity of someone in the position for so long, particularly over a period in which many top firms made global presence and expansion a necessity.
For Michael Payton (pictured), who has been senior partner at Clyde & Co since 1984, the two factors are self-reinforcing: "Length of stewardship can help create the environment and confidence to support new ideas and expansion.
"What we have seen during the past 20 years is a fundamental change in the City legal profession, which has during that period become an international business and an extremely successful one. When I joined Clyde & Co, the City solicitors were generally domestic in outlook, and that has changed considerably."
After nearly 30 years at the helm, Payton will take up a newly-created role of chairman in November this year, with the firm in the process of appointing a new senior partner.
Consistency is key
Consistency is, of course, the buzzword you would most readily associate with long-serving leaders.
Neville Eisenberg, who has been re-elected as Berwin Leighton Paisner's (BLP) managing partner every three years since 1999, reflects that, when it comes to leadership, there is currency – particularly in times of change – in "certain things that people can rely on; certain principles, practices and cultural values that people have confidence won't change too dramatically".
But he warns against an over-reliance on consistency: "The thing is to make sure this doesn't translate into complacency. An important part of my role therefore is to ensure complacency doesn't slip in."
Indeed, managing and senior partners have to show leadership in the running and strategy of a firm, not just the steady hand of arbitration. Disputes and disagreements will arise among partners at times, and the way these are handled is crucial to ensuring they do not lead to deeper divisions.
At Kennedys, ad hoc committees (as opposed to standing ones) work on specific projects and present partners with a plan of action.
Thomas says: "On the occasions where committees have been divided, the extent to which they were divided has always been resolvable, and, if I've felt very strongly one way, I've led on this."
Payton takes a similar line at Clydes: "With all these things, it is crucial for the chairman of a meeting to be neutral – albeit as senior partner I give a lead where necessary, as well as contributing towards overall strategy."
Understandably, different governance structures account for different management styles. At BLP, Eisenberg sees his role as making sure decisions taken by the management team are put into effect, as well as to "challenge and push people internally to realise potential".
With managing partners often occupying CEO-like roles and senior partners akin to chairman of the board, the two positions may be complementary, or stand alone. Thomas and Payton, for example, are supported in their role by CEOs Guy Stobart and Peter Hasson respectively.
Celebrated business management expert David Maister describes in his writing a common delineation is for "the senior partner [to represent] the firm to the marketplace and other external constituencies (such as governments, media and communities) while the managing partner focuses on managing the internal constituencies – partners, junior professionals, other employees".
The 'producer-manager' dilemma
However management and strategy responsibilities are delegated, senior and managing partners will inevitably have to compromise on the number of hours they can give to actual fee-earning work.
Thomas (pictured) , while acknowledging that management "impinges massively" on his time, is clear: "I continue to practise, and I've always said I would," he states, citing Harvard research that this is the preferred solution to a phenomenon known as "the producer-manager dilemma".
In representing partners, Thomas explains his role as "the keeper of the soul" of the firm, "ensuring [everything is done] in accordance with the partners' wishes".
Payton agrees, arguing that those governing a firm should maintain a working relationship with the clients: "I've always kept a healthy practice and it's important that the senior partners do so because it is the best way to keep in touch with and understand and practise with markets in which we work."
The way in which Eisenberg's role as managing partner differs may be more a reflection of BLP's structure than anything else, but provides an interesting distinction.
He does not disagree with Payton and Thomas' position, and is always keen to meet with and "understand what clients are thinking and what their challenges involve". But he concedes that managing a global firm takes up all his time, bar "a tiny amount of legal work".
"I did, at first, continue to do some client work, but the pressures became increasingly difficult to balance.
"Of course, I miss the contact with clients – I found those who I used to advise very ambitious and challenging and I loved working with them. But management has its own rewards."
Whatever a senior or managing partner's client portfolio looks like, this transition from lawyer to manager entails both a switch of routine and mindset.
The ability to deal with balance sheets are needed as much as good people management skills, in a role that is usually a complete change of pace from that of a normal partner.
Undoubtedly, personality – and the ability to make people feel recognised – is another crucial element around which partners coalesce. Eisenberg acknowledges: "Motivation is very important and one has to ensure people feel motivated within the firm."
For Thomas: "As far as the people management side is concerned, I'd like to think that, as a reasonably successful litigator, I already had a good understanding of what makes people tick."
Adapting to changing times
Another challenge Eisenberg (pictured) speaks about is adapting to the cycle of the role: "You tend to have a beginning and end to most projects as a lawyer, and that gives you a sense of progress. Being a managing partner is a very different rhythm to one's working life because managing a firm is a continuous process."
All these attributes are undoubtedly hard won and difficult to pin down, hence the statesman-like quality that is sometimes associated with the roles.
But a long time at the top shouldn't lead to stale management, Thomas points out, noting that, despite the virtues of consistency, firms should be careful not to have "someone hanging around too long".
"The people I work with, I would call my friends," he says. "If the time came to it, I'd like to think my friends would take me to one side and tell me that it's time for change, rather than it being past my time and it becoming a painful event for me and those around me."
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