Managing Partners on Outsourcing, Cost Control, Indian Liberalization, and Law Firms of the Future

The annual Global Managing Partners Summit in London, chaired by Law Society vice-president Robert Heslett and Law Society Gazette editor Paul Rogerson, revealed a staggering reduction in the demand for legal services among leading US law firms. In the first quarter of this year demand shrank by 6% compared with the first quarter of 2008, while the average hours billed per lawyer fell 8.2%.

Managing partners from the world’s leading law firms were responding to the challenge by embracing outsourcing and cost control. Check out the excellent review of proceedings in the Law Gazette article “Global Managing Partners Summit”.

I’ve highlighted below a handful of the most relevant quotes.

‘I see no reason why fee-earners shouldn’t have a secretary based in India,’ .......‘If it’s not high value, we will move it to another location,’ …….Indian lawyers are often as good as, if not better, than English lawyers.’ David Childs (global managing partner at magic circle firm Clifford Chance).

‘Outsourcing will play an increasing role in removing aspects of front-office, not just back-office, work,’ ........‘Some general counsel at investment banks carry out 80% of their equity research in India. This makes them well aware of the potential for outsourcing legal work.’ Tony Williams, (principal at legal management consultancy Jomati).