New beginnings

Spring always seems like quite a good time for some fresh thinking, but in this inescapably crucial election year for the UK, the temptation to clear out the old cobwebs really is irresistible. With election day 2010 almost exactly coinciding with official evidence of whether this recession is behind us, the stakes really could not be higher. The basic promise of all the major parties is, and has to be, to restore our confidence – politically as well as economically.

It seems fitting, therefore, that this April also sees the first edition of a brand new-look Managing Partner designed for the modern global law firm.

Much more than a mere makeover, future editions of this magazine will include an abundance of the highly focused management insight, features and case studies which you, our readers, have come to expect over the years. From investment in cutting-edge technology to new people management techniques, and also incorporating the very best of top former titles Legal Marketing and FD Legal, no strategic stone will go unturned in our efforts to add real value to the business – your business – of law.

The first alternative business structures offering legal services are set to arrive in just 18 months now, and recent research suggests that one in five UK law firms are already exploring the potential gains an IPO might bring. Whether or not the prospect of ‘Tesco Law’ sets your own knees knocking, the game is most certainly afoot. Some readers will doubtless already be planning major moves – boldly going where few have gone before. Others will not, but keen awareness of market movement as a whole will still be imperative.

I really hope you enjoy this first packed edition of your new magazine, and please do let us know any ideas you may have for making future ones even better.

And don’t forget to vote!

Richard Brent

Editor

Features

Regional focus: Africa rising This article is for subscribers only
Last year South Africa recorded its lowest M&A activity by value since 2003, but outbound investment interest and robust regulatory protection promote the country as a key market to move in, says Law Abroad chairman Kerry Underwood.

Making time for talent This article is for subscribers only
Recession? This is the time to build stronger relationships with employees and communicate as frankly as possible. By Stephen Armstrong, John Claydon and Norman Letalik

Sector focus: Hocus Pocus? This article is for subscribers only
Many law firms are placing more emphasis on the key sectors they serve in marketing initiatives. Jeremy Knott, head of commercial initiatives at the Institute of Chartered Accountants asks how the success of such a strategy can be measured.

Letter from Asia Free
Reaching for Eastern ambitions. By Robert Sawhney, managing director, SRC Associates

Rewriting the rulebook This article is for subscribers only
The regulation of legal services has been hotly debated in recent years, including calls for a modified approach for the larger, most corporate-focused firms. Hazel Ryan, risk director at Eversheds LLP, brings us right up to date.

Letter from America Free
To the billable hour and back again. By Thomas Berman

What’s the alternative? This article is for subscribers only
Mark Rigotti, the managing partner of Australia’s Freehills, argues that alternative billing arrangements are just that. They need not mean the end of hourly billing and structural overhaul.

Winds of change Free
From performance-linked pay to finding new fee structures, and even entirely new business structures, Fergus Payne, joint head of partnerships at Lewis Silkin, considers firms’ financial management options for 2010.

Consumer confidence This article is for subscribers only
UK law firm Shoosmiths launched a new brand identity in early 2010, clearly distinguishing its consumer and commercial offerings. Richard Brent speaks to head of consumer services Judith Dorkins about the practicalities of the process.

Remote control This article is for subscribers only
The IT department at Simmons & Simmons made a discreet joint flexible working application to prove the feasibility of presence technology. Now the move is paying off, says Abby Ewen, the firm’s director of business transformation.

Moving on up This article is for subscribers only
Promotion to equity partnership is the traditional pinnacle of a solicitor’s career, but the pressure is on to select and support the top of the crop.

Comment: Equity Points for Top Performers This article is for subscribers only
It is clear that the promotion of partners to equity status is a vital element in the firm’s equity structure. This structure must be linked to the firm’s overall strategy and therefore must achieve 20 key objectives. By Nick Jarrett-Kerr

Case Study: On the knowledge This article is for subscribers only
Knowledge management is more than just bringing various parts of a firm together, says Helena Hallgarn, former head of KM at Scandinavian firm Vinge, who argues that to deliver benefits, KM has to look beyond legal knowledge alone.

Building bridges: A new way to merge This article is for subscribers only
Offshore law firms Mourant and Ozannes merged this month, but have opted for a much less adversarial approach than usual. Both parties turned to the same practice for advice, explains Richard Linsell, head of professional practices at Addleshaw Goddard.

Comment: Early warnings across the pond This article is for subscribers only
Developments in the US merit attention, with the expansion of US firms into the UK market.