Law Firm Leaders Forum: Ten suggestions from a former managing partner
Greg Jordan served as Global Managing Partner for Reed Smith for 12 years. In late 2013, Jordan moved in-house to PNC Financial Services Group as general counsel and head of regulatory and government affairs. Jordan participated in a panel titled, “The Present and Future Health of the Large Law Firm Model” at the 19th annual Law Firm Leaders Forum, hosted by Thomson Reuters in New York City last week.
The panel was moderated by co-chair of the event, Brad Hildebrandt, and featured: Dan DiPietro, chairman, Law Firm Group, Citi Private Bank; Aric Press, senior vice president and editor-in-chief, ALM Media Properties LLC; Maurice Watson, chairman, Husch Blackwell LLP; and Jordan.
The group discussed legal-market driving trends, alternative service providers, technology, client behavior and how firms are changing. At the close of the panel, Jordan offered the room of mostly managing partners ten suggestions he wished he knew as a managing partner, in no particular order.
- Share what is happening within the firm
- Companies are scheduling machines
- Watch out for the “Big Four” accounting firms
- Be alert to the range of your clients’ needs
- Understand the speed at which buying decisions are made
- Relationships really do matter
- Specific expertise is critical
- Encourage partners to know the industry and company
- Wall Street firms have raised their game
- Managing partners can make a huge difference with clients