Dr Rob Millard on Success Drivers in Large Law Firm Mergers
Release Date: 07/10/2024
Dr Rob Millard on Success Drivers in Large Law Firm Mergers
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Our guest on the Performance Leaders podcast is Dr Robert Millard. Rob is a director of the Cambridge Strategy Group, an international advisory firm that helps professional firms build competitive advantage through strategy, mergers and sustainability. With nearly three decades of experience in strategy and management for law and professional firms, Rob's clients range from elite global firms to leading regional and national firms. His recently completed PhD fromthe University of Glasgow focused on understanding the characteristics of successful large law firm mergers. Rob...
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info_outlineOur guest on the Performance Leaders podcast is Dr Robert Millard. Rob is a director of the Cambridge Strategy Group, an international advisory firm that helps professional firms build competitive advantage through strategy, mergers and sustainability.
With nearly three decades of experience in strategy and management for law and professional firms, Rob's clients range from elite global firms to leading regional and national firms.
His recently completed PhD fromthe University of Glasgow focused on understanding the characteristics of successful large law firm mergers. Rob also holds an MBA in strategy from Henley. He chaired the IBA's law firmmanagement committee and the ABA's International Law Practice Management Forum. He's also co authored ten books, so far, on law firm strategy and management.
Show notes:
(1:38) Why do a PhD on law firm mergers?
(4:39) The characteristics of successful large law firm mergers
(6:14) Types of mergers
(8:56) Most large law firm mergers are successful
(12:27) Analysing merger waves in professional services including the Shearman & Sterling, Allen & Overy merger
(13:59) AI as a merger driver
(15:34) Firms that become good at flexing their merger muscle
(17:12) Behind closed doors conversation that don’t result in mergers
(17:50) Merging a firm with a merit-based partner compensation system with a lockstep firm
(19:27) Moving to a more balanced notion of partner contribution
(20:06) Making collaboration work post-merger
(22:22) How mergers have changed and will keep evolving
(25:20) Why managing partners should always be thinking about mergers