One Generation Firms

Janet Stanton co-authored this article.   Corporate endurance should not be an end in itself. That said, in a very real sense, survival is the ultimate performance measure. –Ian Davis, Managing Director, McKinsey, writing in Reflections on Corporate...

Question of the Month: Succession Planning

“The Church is always one generation away from extinction.”—Archbishop of Canterbury According to the 2018 Citi Law Firm Group Client Advisory, one-third of equity partners are at or approaching retirement age Citi’s 2018 Report also has this to say: “Looking ahead,...

Is BigLaw One Business, or Two?

I’m coming to the conclusion that BigLaw is not one business, but two different businesses.  Some firms (a minority) are in one business, but most firms are in another business entirely. Note what I am not saying:  I’m not saying some firms have one business model and...

Reflections of a GC

In the spirit of generosity, which I hope is an active presence in your life but which is conspicuously abroad at this time of year, a regular reader granted me permission to share some of his reflections prompted by the recent column, “The End of...

Letter from London

Observant readers will have noted that I was in London all last week and so, as is our custom, a few observations about my time and conversations there and the state of the market. This has taken me awhile to compose because, frankly, I came away with a wide array of...

The End of Leverage?

More so of late, but for some time, we’ve been harboring the suspicion that the glory days of the high-leverage model are over.  Could we be seeing the end of leverage? Of course, many management fads fashions tend to come and go, which is why we at Adam Smith, Esq....
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