Big Law Life #47: Strategies for Thriving Through Law Firm Mergers
In this episode, I delve into the challenges lawyers encounter when their firms go through mergers. Drawing from my experience as an equity partner in global firms, I discuss the often-overlooked aspects of these transitions, such as managing new technology systems, navigating office relocations, embracing new branding, and adapting to shifts in leadership.
I also touch on the practical steps lawyers can take to protect client relationships, manage origination credits, and align with the evolving firm culture. My goal in this episode is to give you actionable strategies for staying ahead and safeguarding your career when major changes come your way.
At a Glance:
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00:00 - Introduction to today’s episode
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01:20 - Overview of recent law firm mergers and their impact on market power
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02:14 - Initial changes post-merger: technology, office location, branding, and leadership shifts
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04:16 - Navigating new office space dynamics and hot desking
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05:03 - Challenges with firm rebranding and identity alignment
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05:30 - Leadership restructuring and its implications for legal teams
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06:12 - The importance of assessing fit within the newly merged culture
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07:24 - Evaluating potential downsizing in business and legal operations roles
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09:02 - Staying informed through firm meetings and assessing post-merger shifts
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09:55 - Managing client conflicts and ethical considerations during mergers
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11:01 - Risks and considerations for equity partners under new firm structures
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12:43 - Complexities of multinational firm mergers and compensation variances
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14:29 - Opportunities for career growth and new business in merged firms
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15:04 - Building connections with new colleagues and collaborating effectively
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16:17 - Retaining origination credit and client relationship management
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18:12 - Client insights into new colleagues: building trusted alliances
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19:02 - Proactive strategies for adapting to the evolving firm landscape
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Interested in doing 1-2-1 coaching with Laura Terrell? Or learning more about her work coaching and consulting? - here are ways to reach out to her:
laura@lauraterrell.com
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Show notes: https://www.lauraterrell.com/podcast