Mergers are everywhere. While mega-mergers grab headlines, many recent law firm combinations have been between 5- to 25-lawyer firms. And with more than 100 combinations taking place annually, they are occurring more frequently than marketers assume.  Mary K Young discusses reasons for the increase in merger activity and the need to maintain a focus on clients as a priority for firms during any merger process.

Three decades of data reveal common threads from Finley Kumble to LeClairRyan. What can be learned from the history of law firm failures?  Mary K Young observes that external factors, including a recession, can accelerate a firm’s demise, but typically are not at the root of its problems. Young says firm leaders have to stay in touch with their clients and stakeholders, never losing track of what those people want. They need a vision for where the firm will go next.

When Dentons recently announced its bold plan to build “the first national law firm” in the U.S., Greenberg Traurig’s leaders scoffed, pointing out that their firm had already done that. If by “national law firm” Dentons meant achieving geographic scale—which is what it suggested when it noted that none of the nation’s top 10 full-service law firms has offices in all 20 of the largest U.S. markets—then it had a point. Mary K Young discusses the options for the structure of a growing firm—traditional growth versus a verein—and the central question of which model provides for smoother collaboration between disparate geographies.

Zeughauser Group's survey of D.C. law firm leaders indicates optimism despite more competition. Over 58% of firms were approached about a combination, but only some would consider it. Law firm leaders agree competition for talent and clients is tightening in Washington, but they’re optimistic about their businesses and many are committed to growth in the nation’s capital, a Zeughauser Group survey shows.

The new report by the law firm management consultancy group surveyed managing partners and other senior leaders of Washington firms ranging in size from less than 10 to roughly 150 attorneys over the first half of 2019.

This report summarizes the findings of Zeughauser Group's survey of managing partners and other senior leaders of Washington DC law firms.  The firms ranged in size from less than 10 to nearly 150 attorneys, and the findings are based on the contributions of 36 respondents.  The objective of the survey was to learn about the outlook that respondents have for the future, including the nature and extent of their growth aspirations.  The survey was conducted in the first half of 2019.

In this podcast, Kent Zimmermann shares insights on recent large law firm mergers, what the components of a successful law firm merger are, why plaintiffs choose to pursue US-based lawsuits, how to develop relationships with reporters and to be quoted in the news and media, and what makes an effective managing partner and law firm leader.

Three old-line Texas corporate law firms – Gardere, Andrews Kurth, and Strasburger & Price - each merged with a larger national law firm in April 2018. Fifteen months later, leaders at all three say their marriages have gone better than they expected.

Kent Zimmermann is one of the leading strategy advisors to law firms in the United States. Last year, he advised on each of the three largest law firm mergers to close worldwide. He is currently advising multiple firms on active merger discussions, and he is also advising three Am Law 25 firms on firmwide strategy.  Here Kent offers some perspective on legal trends and the challenges and changes facing law firm chairs and managing partners.

A summary of findings from Zeughauser Group's survey of Boston law firms, focusing on the potential for mergers and combinations, likely growth areas and geographies, and future priorities and challenges.  Survey respondents were exclusively managing partners and other senior leaders of Boston law
firms ranging in size from approximately 10 to 200 attorneys. 

For more information about this survey, contact Kent Zimmermann at zimmermann@consultzg.com or (312) 810-8008.