'I have lived diversity issues in a way some in the City haven't' - Norton Rose Fulbright's new EMEA chair on driving inclusion
Norton Rose Fulbright's new EMEA chair Farmida Bi on the new push from clients for law firms to be diverse and the reality of building a career in the City as an ethnic minority woman
May 25, 2018 at 06:03 AM
5 minute read
"I want to make sure that we encourage people from a broad range of backgrounds to join the firm and, when it comes to racial diversity, I want to make sure we reflect our global clients," says new Norton Rose Fulbright Europe, Middle East and Asia (EMEA) chair Farmida Bi.
Bi, who took up her new role on 1 May, has been a partner with the firm for almost 10 years, joining from Dentons in 2008. Alongside her new role as EMEA chair, she is European head of Islamic finance and has a practice advising on project bonds, high-yield bonds, private placements and Islamic bond issuances.
In her new position, she explains that she has her sights set on boosting the firm's diversity credentials – a cause she links with her own experience in the City.
Nobody needs to explain how important diversity is and the invisible barriers people can face
"As an ethnic minority woman who was the first in her family to go to university, I have lived the diversity issues in a way that some other people in the City haven't," she says. "For me it is innate and important – nobody needs to sit down with me and explain how important diversity and inclusion is and how there are often invisible barriers that people can face."
In addition to being a key part of the firm's mission, Bi points out that the drive for greater representation within law firms has become an increasingly big concern for clients. During the past two to three years, more and more of the firm's biggest clients have been asking for clear evidence of Norton Rose's success in this area.
There is a strong business driver to make progress
"Clients are asking us about our diversity statistics on panel and deal pitches and there is therefore a strong business driver to make progress," she explains. "If you don't satisfy the clients on those metrics, it can affect your ability to get on a panel.
"Other clients are going even further, and will monitor deals on an ongoing basis to check that you don't turn up with a perfect rainbow team for the pitch and then, once the deal comes in, staff it with the usual group. They want to know that the people they saw are the people on the deal."
Part of the firm's commitment to expanding its range of partners is its target of 30% female partners by 2020, a goal Bi says she is "absolutely committed" to, with the global percentage of women currently standing at about 25%.
"We have a career strategies programme, where our high-potential female associates are identified early by their teams and participate in a dedicated programme," she says. "They are supported and mentored to help them develop their careers and hopefully join the partnership."
The results of the scheme are easily evidenced. During the past five years, more than 70% of the female lawyers promoted to partner at the firm have been graduates of the programme, with Bi very much aware of the multiple barriers for women looking to make the leap to partnership.
"We know that issues around family are not the only barrier to female promotion but we are encouraging flexible working to help all people with family or other commitments," she says. "We are trying to be as flexible as we can be to make sure that people don't see their career here as a sprint when it is really a marathon. If somebody is talented and committed, we want to help them grow."
Asked about the other aspects of her new role and her predecessor Stephen Parish, Bi says he represented "the best attributes of the firm". Parish, who was with the firm for almost 44 years, retired in April having previously held the roles of global vice-chair of the firm and global head of banking.
We are trying to make sure people don't see their career as a sprint when it is really a marathon
"I have been a transactional lawyer for over 25 years, so this is going to be a new challenge, in addition to my ongoing fee-earning work. The handover period has clearly shown me how complex running a big global law firm is. As a transactional lawyer you are not always aware of the issues that arise from day to day in running the business," Bi admits.
Bi will spend about half of her time carrying out her commitments as EMEA chair, a role that also includes helping with the continued integration of Norton Rose's 4,000-lawyer-strong global network, and the rest of the time on her practice.
She also has a remit around client service and wants to make sure more junior lawyers at the firm are involved in building relationships.
"It is not just the job of the management or the senior partners," she concludes. "It is everybody's job."
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