RSGI’s Post

We are pleased to announce that Gibbons Director Frank Cannone, Chair of the firm’s #Corporate Group, has been named to the prestigious M&A Powerlist: United States 2024, which showcases leading practitioners across the US. For over 30 years, The Legal 500 has been analyzing the capabilities of law firms and sets across the world. The corporate and #M&A #rankings are consistently its most used and read editorial sections. The complexity of M&A transactions necessitates collaboration across various disciplines, including #strategic, #financial, #technological and #operational perspectives, to provide comprehensive solutions, and, according to the publication, the legal teams that thrive are those that have a solid understanding of both the #localculture and #laws but also can bring in expertise and be open to ideas from #cross-border. As stated by Legal 500’s senior research analyst, “the listing reflects those practitioners that are deemed the gold standard by businesses.” To view the full list, see https://lnkd.in/e9kgwswy.   Mr. Cannone has been selected for the recognition referenced above, which has been conferred by The Legal 500. An overview of the selection methodology for this recognition can be found here: https://lnkd.in/g6piXmxu. Results may vary depending on your particular facts and legal circumstances. No aspect of this advertisement has been approved by the Supreme Court of New Jersey.

The results are in! 📈 Axiom releases our third-annual general counsel survey report, and these three stats say it all: 1️⃣ 96% of GCs had their budgets cut coming into 2024. 2️⃣ 54% experienced cuts of more than 10%. 3️⃣ 100% reported cost, quality, and other challenges made them regret law firm engagements in some way. It's no wonder GCs are continuing to struggling with rising law firm costs and talent shortages amidst increasing workloads and complexity. 😮💨 But don't take our word for it, read more about what your peers are facing in the report ➡️ https://okt.to/Q9SVCr #Axiom #GeneralCounsel #LegalCommunity #LegalTalent #LegalNews #LegalTech

The results are in! 📈 Axiom releases our third-annual general counsel survey report, and these three stats say it all: 1️⃣ 96% of GCs had their budgets cut coming into 2024. 2️⃣ 54% experienced cuts of more than 10%. 3️⃣ 100% reported cost, quality, and other challenges made them regret law firm engagements in some way. It's no wonder GCs are continuing to struggling with rising law firm costs and talent shortages amidst increasing workloads and complexity. 😮💨 But don't take our word for it, read more about what your peers are facing in the report ➡️ https://okt.to/cg0LQx #Axiom #GeneralCounsel #LegalCommunity #LegalTalent #LegalNews #LegalTech

This bit of data caught the attention of more LinkedIn users than any other when we published it last year. The question of fixed v billable hour pricing is so fundamental to the law firm business model: I suspect a combination of client demands and increased availability of the right kinds of technology is driving the continued shift towards the fixed fee model.

The annual Citi Hildebrandt Client Advisory is one of the most comprehensive and data-rich reports available about the legal industry. It is a must-read for all lawyers. Here are just a few of the many takeaways: ➡️ Law firms have good reason to be optimistic about 2025, as positive momentum is expected across a number of practice areas, including corporate/M&A. ➡️ Law firms will continue to focus on three major opportunities: (1) increasing their scale; (2) “unlocking their platforms”; and (3) leveraging the power of Generative AI to transform their businesses. ➡️ The majority of firms expect to expand their equity and income partner ranks and grow their associate leverage. ➡️ In what is anticipated to remain a fierce lateral partner market, firms will continue to look for ways to attract and retain top partner talent, which includes looking closely at their equity partner compensation models. 2025 is expected to be a very strong year, and I look forward to continuing to work with so many wonderful candidates and clients.

The results are in! 📈 Axiom releases our third-annual general counsel survey report, and these three stats say it all: 1️⃣ 96% of GCs had their budgets cut coming into 2024. 2️⃣ 54% experienced cuts of more than 10%. 3️⃣ 100% reported cost, quality, and other challenges made them regret law firm engagements in some way. It's no wonder GCs are continuing to struggling with rising law firm costs and talent shortages amidst increasing workloads and complexity. 😮💨 But don't take our word for it, read more about what your peers are facing in the report ➡️ https://okt.to/h9DW1Y #Axiom #GeneralCounsel #LegalCommunity #LegalTalent #LegalNews #LegalTech

Check out BigHand's latest research on how over 800 legal leaders are adapting to client demands and talent expectations, covering trends in client retention, lawyer productivity, talent development, succession planning, and investments in technology and people.

💡 Are you confused about which IT & Technology packages your firm needs? Getting the right fit will help firms streamline processes, operate securely and improve business performance. The Society has partnered with consultants Baskerville Drummond to de-mystify law firm IT and help us understand more about IT & Technology used by small and micro firms. With firm input we plan to offer tailored support including: 👉 A Report enabling firms to compare IT & Technology set up with similar firms. 👉 A Recommendation Guide of IT & Technology packages, based on type of firm. 👉 CPD on key topic areas. 👉 121 Clinics for independent advice around IT & Technology investment. If your firm has 0-49 employees, help us provide the best support by ensuring your firm submits a response to our survey. Please forward to the staff member most suited to answer questions on your use of IT & Technology. Baskerville Drummond only needs one response per firm and all responses are anonymous. The survey takes 10-15 minutes to complete and will be open until Friday 13 December 2024. Take the survey https://lnkd.in/eqfRHBVb #MemberServices #LawTech #LegalTech #LegalInnovation Baskerville Drummond LLP Darren Toombs Dr Patricia O'Lynn, CMgr MCMI Damien McCann Alison Grundle Colin Mitchell Brian Archer

🚀 Law firms are abandoning traditional partnerships for external funding As a legal researcher closely following the market, I've noticed an intriguing shift: larger law firms are increasingly moving away from traditional partnership structures. A recent report by Evelyn Partners, supported by The Lawyer , highlights that the main reason for this trend is the pursuit of external funding. This move is seen as essential for innovation and maintaining competitive edge in a rapidly evolving legal landscape. Nearly half of the firms (46%), cited the ability to raise external funds as the primary driver for this transition. Improved governance and decision-making, along with tax-efficient fund retention, also played significant roles. Interestingly, succession issues and a dwindling desire among the next generation to become partners are pushing firms to reconsider age-old partnership models. It's no surprise then, that more than a third of lawyers view alternative structures as more effective. While most senior lawyers remain confident about their business outlook, a significant 76% noted increased competitive pressure over the past year. To tackle these challenges, firms are eyeing up avenues like technology investment, geographical expansion within the UK and diversification. Unlocking external investment could be the key to driving growth, adopting AI, improving client services and acquiring specialised boutique firms. What are your thoughts on this shift? Is it time for more firms to embrace alternative structures? 💼💡💬 #LegalTrends #LawFirmInnovation #ExternalFunding

How are you ensuring your people are equipped to advise clients effectively? #ProfessionalServices firms have deep expertise in their own disciplines, but the most successful client advisers have a much broader field of vision. If your client-facing teams aren’t keeping up with changes in client sectors, trends in adjacent industries and macro movements in key markets, then they’re leaving extra value on the table. #Legal firms like Simmons & Simmons expect their teams to be on top of what’s happening across the global business landscape and use an FT Professional Subscription to keep their commercial awareness sharp. Read more from FT Professional customers in the legal space, as well as finance, government, tech and many others here >> https://lnkd.in/eqhSxXsx