Registration & Luncheon
Please join us for lunch as we kick off this year’s program.
Charting Course: Mastering the Economics of Law Firm Mergers
Few would argue that the prevailing trend of law firm combinations in the current market has yielded promising, if uneven, returns. For every successful business merger, various ill-fated pairings or unforeseen missteps have derailed even the best-laid plans. This workshop examines the challenges and strategies behind successful law firm combinations vis-à-vis an exercise in core financial planning. Participants will work collaboratively to design an effective financial model that addresses each stage of the merger life cycle from ideation to integration.
Key discussion topics include:
- Alignment of capital
- Anticipating expenses (integration costs, leases and insurance, etc.)
- Defining compensation levels for legal talent and staff
- Cash flow & debt management
- Recalibrating profitability models and metrics (billing rates, Revenue Per Lawyer,
Profits Per Partner, etc.)
- Systems and process congruence
Laurie A. Schrader, Chief Financial Officer, Faegre Baker Daniels LLP
Lisa Smith, Principal, Fairfax Associates
Madhav Srinivasan, Chief Financial Officer, Hunton Andrews Kurth LLP
“Curiouser and Curiouser”: Assessing Law Firm Lawyer Rates in the Current Market
One of the more intriguing trends in today’s economy is the ongoing uptick in lawyer rates in the face of flat demand. As noted in the latest Peer Monitor data, demand growth throughout the AmLaw 100 and midsize community remains unequivocally tepid, vacillating between 0.3% and 1.2% growth on average per quarter. Yet, despite such underwhelming metrics, law firms are raising their actual work rates at an average annual pace of 3%, and many are reporting an overall improvement in realization. This workshop offers a robust inquiry into the practicality and rationality of ascending law firm fees. Participants are asked to consider how firms are approaching rate increases for 2019 vis-à-vis several provocative talking points, including:
- Client receptivity and price-volume sensitivity;
- The overall shelf life of high rate work;
- Cultural approaches to business development and flexibility around compensatory models
- Impact of alternative fee arrangements on rates
- Effect of law firm brands on client decisions
Jeffrey Lowe, Global Practice Leader, Law Firm Practice Group, Major, Lindsey & Africa
Michael D. Short, Founding Principal, LawVision Group LLC
Peter Lane Secor, Law Firm Chief Pricing Officer
High Noon: A Pricing Negotiation Master Class
Budget predictability is a top concern for law firm clients. Indeed, with continued financial pressures influencing clients’ decisions to bring more work in-house, the proliferation of alternative arrangements and notions of “value” or efficiency have become almost axiomatic in the current market. Yet for all the work law firms put in toward client-friendly agreements, many corporate customers still lament their outside counsel’s inability to adhere to budgetary guidelines. This advanced pricing workshop asks attendees to engage directly with legal clients in mock negotiation exercises. Participants will gain unique insight around strategic conversations, client pain points and much more within a collegial yet purposeful setting.
Patrick Johansen, CLM, CPP, Senior Manager, Client Pricing & Profitability, Kobre & Kim LLP
Susan Garcia, Associate General Counsel, Thomson Reuters
Sheila Murphy, Senior Vice President and Associate General Counsel, Metlife, Inc.
Carolyn B. Renzin, Executive Director & Assistant General Counsel, JPMorgan Chase & Co.
Please join us for cocktails and canapés as we wrap up the day’s proceedings.
75 Wall Street (at Water St.)
New York, NY 10005
ROOM BLOCK DETAILS
We have reserved a block of guest rooms at the Andaz Wall Street at a group rate of $415/night plus taxes.
For reservations, please visit our dedicated booking link at:
Alternatively, you may call the hotel directly at 212.591.1234 and ask for the Reservations Department (be sure to reference “Thomson Reuters’ COO/CFO Forum”. Note: Web reservations are preferred).
The cut-off date for guest room reservations at the group rate is Monday,September 24, 2018. Rooms are subject to availability.
For assistance with guest room reservations, please contact our Conference Planner, Meghan Landis, at firstname.lastname@example.org