'I will do it in my way' – BLP's Neville Eisenberg on his new role
Eisenberg sets out his top priorities as he prepares to take on the senior partner position
April 24, 2015 at 12:05 AM
4 minute read
With a decade and a half under his belt as Berwin Leighton Paisner's (BLP) managing partner, Neville Eisenberg is about to step into a new role. Succeeding equally long-standing senior partner Harold Paisner, who has been in the position since the merger that formed BLP in 2001, Eisenberg will be performing what he says is a "more specific" job than Paisner.
As senior partner Eisenberg's first priority will be BLP's international strategy. This could include its first foray into US law: the firm is thinking about bringing in some US law capability for transactional support.
"We work with American law firms all the time but we have no US law capability," says Eisenberg. "Many law firms have hired US-qualified lawyers to provide their opinions in-house. I think it's a useful thing to do and a fairly obvious thing to do."
Asia will also be a focal point, where consolidating the firm's Hong Kong presence will be Eisenberg's main concern.
"I think the questions for us relate to Asia, not because things are problematic but because of the opportunities that exist," he explains. "Trying to work out how to position ourselves correctly and what capability to acquire is quite challenging."
With hindsight, Eisenberg regrets that the firm did not act more swiftly on its international expansion. BLP currently has 12 offices in 10 countries and a network of more than 100 referral firms across the world. "It would have been good if we had started our international development earlier because then we would now be further ahead," he says.
Eisenberg is expecting to be more than just a figurehead for BLP as senior partner. He plans to collaborate on many aspects of the business with the firm's newly elected managing partner Lisa Mayhew and chairman Robert MacGregor, who was appointed as executive chairman in 2013 for a three-year term – the title of executive was dropped in 2014, though his responsibilities remained the same. "Harold [Paisner] has been an important figurehead for the firm for many years. He's done it in his way and I will do it in my way. I think the priorities I've got are more specifically defined than has been the case with Harold."
As senior partner, Eisenberg will take responsibility for "growth and the performance of the offices outside the UK", as well as continuing to work on integrating the firm's expanded presence in Hong Kong where it took on a team from Haley & Co.
Eisenberg will also be responsible for the firm's separately managed businesses, which include legal services provider Lawyers On Demand, as well as developing client relationships.
Eisenberg is taking on the new role at a delicate time for BLP. While its results held up during the downturn compared with its competition, it has only recently bounced back from a difficult financial year in 2012-13, when its operating profit plunged by 32% from £81m to £55m, while profits per equity partner plummeted by 39% from £660,000 to £401,000.
Although the firm saw profit per equity partner rebound by 35% in 2013-14 to £542,000 against a 5.8% increase in revenue and shrunk its net debt by 15% during the year, there is still potential for growth.
"Of course it would have been preferable not to have had the dip in revenue that year," admits Eisenberg. "One needs a degree of resilience to move through periods like that."
Looking towards the end of the year, he is "reasonably confident" about the firm's financial performance.
The main challenge for all law firms will be delivering their services efficiently amid the drop-off in legal fees in the past few years, he concludes. "Bigger commercial law firms need to think carefully about what the twin trend of consolidation and globalisation means for them in competitive terms and how they are going to continue to compete, particularly for the premium work."
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