[Ed. Note: Today’s post comes from guest blogger, Steve Nelson from The McCormick Group. Steve suggest the next generation of COOs will need different skills and perspectives to be successful. He is right. – TB]
A recent article in Bloomberg Big Law Business detailed the increasing sophistication of Chief Operating Officers at law firms, pointing out that many of the new COOs have managed corporate organizations, other major professional services firms, and large government agencies.
But the article misses an important factor in what law firm leaders need in today’s environment. Much has been written lately about the challenges that the AmLaw law firms are facing because of the increased scrutiny by clients and their own “chief operating officers”, as evidenced by the growth of the Corporate Legal Operations Consortium (CLOC). What has changed, particularly since the recession, has been a complete reevaluation of the “law firm engagement”. Clients have taken a much more comprehensive view of their outside counsel retention, not just in terms of billing rates and alternative fees, but in the way that their work is handled. This ranges from billing practices, composition of teams, and the reporting of even minor “event changes” that impacts the engagement as a whole.




Earlier this month, we were debating how to approach a client problem. There were two differing points of view, both had merit and either could be right. Either would get us to the finish line, solve the problem, score the run – insert your analogy of choice. But each position also had its drawbacks. Someone wisely said to me “its not a zero sum game”




