The board conundrum in professional services firms
The board is a conundrum in professional services firms. It is a conundrum because answering the question “When is a board a true board in a professional services firm?” is both easy and hard at the...
View ArticleHow capital structure influences partnership culture
There was a time when keeping an eye on lock-up (the sum of debtors and work-in-progress) was the only balance sheet item to which the managers of partnerships paid much attention. In those times banks...
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Why the economics of free agency should worry partners
Until recently I have not paid full attention to the free agent phenomenon, but during a recent visit to Chicago I came to understand why the economics of free agency should worry every owner of a...
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The time to start planning succession in Australian law firms is now
Based on the current profile of partner ages, succession in Australian law firms seems to be heading towards a crisis. In Australia’s 50 largest law firms 43% of partners are over the age of 49 (1)....
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Why every firm needs a Managing Partner, Clients
If you look around law and other professional service firms, it is clear that after a period of decline, the Managing Partner, Clients role is back in vogue – in Australia at Clayton Utz, King &...
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