Address the enemy within: the investors are hovering

Address the enemy within: the investors are hovering

By Rod Ellis

I put it to you that lawyers are their own worst enemies. Traditionalism, conservatism and cost consciousness within law firms (who supply a world that is becoming increasingly sophisticated and forever changing) means the law isn’t as fun or safe in some quarters as it used to be. Add some regulatory change into the mix and we have a professional Krakatoa brewing.

Harsh but fair, downright delusion permeates throughout all levels of many law firms – from individual lawyers’ aspirations of a “blazing” career path and remuneration to a collective mentality that change won’t happen significantly – not in their professional lifetime anyway.

It’s really interesting to see that investors are now hovering around the profession following the Jackson Reforms. Investors can see the potential – did you know the amount of revenue travelling into lawyers’ pockets nationally is a staggering £25.6bn at the last count. My mouth is watering, where do I sign...?

You hear the investors shout that awful phrase “we want game changers”. Of course they do, a “game changer” can grow and can grow quickly – it’s all about increasing capital value for investors. But we are looking at an industry that has always been about generation of income and the stakeholders (dare I say it the “oldies”) don’t want change, it’s their nat

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About the author:

Rod Ellis qualified into commercial property and worked at a top 50 law firm for six years dealing with a varied portfolio for a major institutional landlord and dealing with acquisitions of development sites for a large brewer.

Rod then went on to work for a global recruitment Company in Manchester/Sydney. He was a Private Practice consultant and project managed the largest ever recruitment campaign in Australia and New Zealand by a magic circle firm. He subsequently went on to become Manager for Asia Pacific region in Sydney and set up the legal recruitment arm of this major plc. He successfully opened offices in Sydney, Melbourne, Brisbane, Perth and Auckland. He also individually developed a desk recruiting in house lawyers for Sydney’s major financial institutions.

Rod returned to the UK and became a partner in a top 30 UK Law firm. He was recruited to lead business development strategy and execution, including managing the firm’s senior recruitment, working closely with the managing partner on strategic issues and reporting to the board.

In 2006 Rod became the Proprietor of market leading consultancy Re Legal. Re Legal focuses on Mergers and Acquisitions, Search and Selection and strategic project work relating to people and strategy.