Full potential strategy for a global law firm
Led a global strategy refresh for an international law firm’s transition to a new Managing Partner, underpinning a surge in performance.
Our robust assessment of the current position created a common view across the partnership of the business' strengths and pressing challenges; we then supported conversations across the leadership that developed shared beliefs, reconfirmed purpose and aspirations, and defined goals for the next three years, including where to play. We went on to refine the strategy in key areas, equipping the managing partner with a powerful blueprint for success.
Context
For a global law firm preparing its transition to a new global Managing Partner, we led a strategy refresh across all geographies and service lines, to confirm strategic priorities and align the partnership behind the strategy.
Our lead consultant had sat where they were sitting; a former Partner in a major consultancy, she had also been Strategy Director for two international law firms.
Approach
We led with a fact-based assessment of the firm’s performance, talent management, reputation and relationships, as well as evolving demand, alternative legal services models, and market trends.
We worked with Partners and senior leaders to crystallise shared beliefs, confirm the firm’s purpose and aspirations, agree the starting point, and set 3-year goals, including new areas of focus and how/where to play in them. Workshops with the firm’s global ‘top 50’ Partners launched the cascade of findings through the firm, building momentum, and we conducted deep dives to refine plans in key areas.
Impact
The new global Managing Partner was appointed towards the end of our project. Equipped with a blueprint for how they wanted the firm to evolve, and a story to tell about their shared vision, he was able to quickly appoint a refreshed senior team and people into new roles.
In FY22 the firm achieved its highest ever revenue, profit and profit per equity Partner.