'I want to challenge the idea that Pinsent Masons is an infrastructure business' - John Cleland's mission as managing partner
After 16 years of David Ryan's leadership, how will his successor put his mark on Pinsent Masons?
May 01, 2015 at 05:41 AM
4 minute read
When John Cleland takes over the top job at Pinsent Masons today (1 May), he will have some big shoes to fill.
His predecessor David Ryan led the firm for 16 years through a period of "significant expansion" that included three major mergers. While Ryan fought a contested election to take that role the firm didn't have another contested election for the top spot until the one that elected Cleland last December.
To those outside the business Cleland's (pictured) background as financial institutions head may appear unsuited at first glance to a firm many perceive as construction-led, but he argues that, in fact, it makes him the perfect man for the job.
"Many of the competitive pressures that you see around the legal market – around consolidation of panels, pressure on fess and innovation in service delivery – those issues have been present in the banking sector for a long, long time, well before the downturn in 2008," he says.
"I have led a team that has been responding to that, and did so successfully."
The figures seem to back up his assertion as in the half year to October 2014, financial institutions accounted for six of Pinsent's top 10 revenue generating clients.
Cleland points out that in the firm's most recent half year results infrastructure work accounted for 20% of fee income, advanced manufacture and technology accounted for 22%, and work from financial institutions accounted for another 20%.
"I want to challenge the idea that Pinsent Masons is an infrastructure business," says Cleland. "It doesn't reflect the make-up of the business."
Also, the "client relationship programme" for the firm's most valued clients now includes the likes of HSBC and RBS, as well as the likes of UK construction giant Balfour Beatty, which Pinsents has a sole provider relationship with.
Cleland's role is more focused on internal management issues than wooing clients, however. While sources close to the firm have described him as a "nuts and bolts guy" with a keen eye for efficiencies and process management, he describes himself as someone with a broader approach. " I tend to have aims rather than targets," he says.
Cleland, who has been a partner at the firm since 1997, goes on to detail his three priorities for his first year in office.
The first is profitable growth; the need to translate geographic expansion into bottom line profit "that gives us the muscle to keep making investment."
The second is "people". "I want an approachable, ambitious culture," Cleland says. "As our business grows you can lose dynamism and the speed of decision making. I want to allow people to get on with growing the business," he says.
The third is "invention". He explains: "We need to find it easier to invent within the business. We might streamline some processes but also I want to get to a culture that challenges established norms," he says.
If you listen to commentators outside the firm, they would counsel Cleland to focus his energies on the first of those aspirations. More specifically, on getting profit per equity partner (PEP) up to a more competitive level would be a good start.
At £405,000, the firm's average PEP lags behind similar sized firms by revenue such as Eversheds (£729,000), CMS Cameron McKenna (£749,000) and Clyde & Co (£600,000).
Though Cleland says PEP "isn't the only metric out there", he admits it is often seen as the "main comparator" across firms and that the business needs to perform at "a level of profitability that allows Pinsents to attract and retain the best talent". To that end he is currently seeing through a review of partner performance.
Cleland's three core aims all indicate a desire for financial growth, efficiency and profitability. So while Cleland is keen that PEP isn't the only measure of his success it is perhaps the best proxy measure that encompasses all his aims.
While Ryan's shoes are big ones to fill there is clearly still room for growth, Cleland's challenge will be delivering it while maintaining the firm's strong position in its core markets such as construction.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View AllHow to Build an Arbitration Practice: An Interview with 37-Year HSF Veteran Paula Hodges
Scratching the Entrepreneurial Itch: Linklaters' AI Head On Becoming a Partner and GenAI Hallucinations
'Relationships are Everything': Clifford Chance's Melissa Fogarty Talks Getting on Big Deals and Rising to the Top
7 minute readThe 'Returnity' Crisis: Is the Legal Profession Failing Women Lawyers Returning From Maternity Leave?
8 minute readTrending Stories
- 1'Largest Retail Data Breach in History'? Hot Topic and Affiliated Brands Sued for Alleged Failure to Prevent Data Breach Linked to Snowflake Software
- 2Former President of New York State Bar, and the New York Bar Foundation, Dies As He Entered 70th Year as Attorney
- 3Legal Advocates in Uproar Upon Release of Footage Showing CO's Beat Black Inmate Before His Death
- 4Longtime Baker & Hostetler Partner, Former White House Counsel David Rivkin Dies at 68
- 5Court System Seeks Public Comment on E-Filing for Annual Report
Who Got The Work
Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
Who Got The Work
Edmund Polubinski and Marie Killmond of Davis Polk & Wardwell have entered appearances for data platform software development company MongoDB and other defendants in a pending shareholder derivative lawsuit. The action, filed Oct. 7 in New York Southern District Court by the Brown Law Firm, accuses the company's directors and/or officers of falsely expressing confidence in the company’s restructuring of its sales incentive plan and downplaying the severity of decreases in its upfront commitments. The case is 1:24-cv-07594, Roy v. Ittycheria et al.
Who Got The Work
Amy O. Bruchs and Kurt F. Ellison of Michael Best & Friedrich have entered appearances for Epic Systems Corp. in a pending employment discrimination lawsuit. The suit was filed Sept. 7 in Wisconsin Western District Court by Levine Eisberner LLC and Siri & Glimstad on behalf of a project manager who claims that he was wrongfully terminated after applying for a religious exemption to the defendant's COVID-19 vaccine mandate. The case, assigned to U.S. Magistrate Judge Anita Marie Boor, is 3:24-cv-00630, Secker, Nathan v. Epic Systems Corporation.
Who Got The Work
David X. Sullivan, Thomas J. Finn and Gregory A. Hall from McCarter & English have entered appearances for Sunrun Installation Services in a pending civil rights lawsuit. The complaint was filed Sept. 4 in Connecticut District Court by attorney Robert M. Berke on behalf of former employee George Edward Steins, who was arrested and charged with employing an unregistered home improvement salesperson. The complaint alleges that had Sunrun informed the Connecticut Department of Consumer Protection that the plaintiff's employment had ended in 2017 and that he no longer held Sunrun's home improvement contractor license, he would not have been hit with charges, which were dismissed in May 2024. The case, assigned to U.S. District Judge Jeffrey A. Meyer, is 3:24-cv-01423, Steins v. Sunrun, Inc. et al.
Who Got The Work
Greenberg Traurig shareholder Joshua L. Raskin has entered an appearance for boohoo.com UK Ltd. in a pending patent infringement lawsuit. The suit, filed Sept. 3 in Texas Eastern District Court by Rozier Hardt McDonough on behalf of Alto Dynamics, asserts five patents related to an online shopping platform. The case, assigned to U.S. District Judge Rodney Gilstrap, is 2:24-cv-00719, Alto Dynamics, LLC v. boohoo.com UK Limited.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250