What law firm managers do next – the number of firm leaders returning to fee-earning roles is growing fast
Not too long ago, the career timeline of a law firm manager was fairly standard: qualify at firm, make partner, make practice/regional head, assume firmwide leadership position towards the latter stages of your legal career and retire from private practice six to 10 years later.
October 30, 2014 at 11:00 AM
3 minute read
Not too long ago, the career timeline of a law firm manager was fairly standard: qualify at firm, make partner, make practice/regional head, assume firmwide leadership position towards the latter stages of your legal career and retire from private practice six to 10 years later. After this the choice was essentially move in-house or, more realistically, retire and decide between focusing on the family or building a portfolio of non-exec roles.
But times have changed. And while Tony Angel still stands out for achieving the almost unheard of feat of managing not one but two major international law firms, the idea that firm leaders end their legal career with their term in office feels like an old-fashioned one.
Moves announced over the last week alone demonstrate the shifting dynamic. Of the four high-profile managers involved, one – Slaughters practice partner Paul Olney – is set to retire after six years in management; two – Clifford Chance senior partner Malcolm Sweeting and Norton Rose Fulbright CEO Peter Martyr – are taking on new terms; while the fourth – David Stewart – is looking for opportunities elsewhere, admittedly after an unusual mid-term exit from his chief executive role at Olswang.
As highlighted by the headline move earlier this month of former Ashurst senior partner Charlie Geffen, and covered in our lead feature this week, the number of executives returning to the trenches to take on full-time fee-earning duties is on the increase, whether at their own firm or elsewhere.
After years spent calling the shots it is not an easy transition to make, particularly for those who have focused their time exclusively – or almost exclusively – on management at the expense of fee earning.
While it's a not a move that will appeal to all, with many partners taking on leadership responsibilities at an earlier point in their career it is one that growing numbers are likely to make. That's especially true if the reality of managing increasingly large global law firms has not lived up to expectations, making the prospect of too many years at the top unappealing.
For those seeking to return to fee earning the advice is clear: follow the lead of the Americans and try to keep your hand in with client work. Taking on two roles at the same time won't make either any easier but it will keep options open, not to mention increase your empathy with whoever happens to be managing you next.
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