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IBA Conference Auckland

IBA Conference Auckland. Global Law Firms 25 October 2004 WIM DEJONGHE Allen & Overy LLP - Managing Partner Belgium. THE STRATEGIC CASE FOR MERGER. The local firms’ perspective A case study. Articulating the firm’s strategic plan starting point: the firm’s position. client needs

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IBA Conference Auckland

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  1. IBA Conference Auckland Global Law Firms 25 October 2004 WIM DEJONGHE Allen & Overy LLP - Managing Partner Belgium

  2. THE STRATEGIC CASE FOR MERGER The local firms’ perspective A case study

  3. Articulating the firm’s strategic planstarting point: the firm’s position • client needs • competition • market position • recruitment and retention position • know how • technology • partners and their (shared) ambitions

  4. Loeff Claeys Verbeke (Belgium) in 1998 • Client needs: • “home market” becomes Europe (not longer Belgium) • increasing financing needs (ICM work)

  5. Loeff Claeys Verbeke (Belgium) in 1998 (2) • Competition: • increasingly international (also for Belgian Law) • increasingly focussed (international & niche firms)

  6. Loeff Claeys Verbeke (Belgium) in 1998 (3) • Market position: • strong market position through rapid growth, but • too much a collection of independent offices • lack of focus • therefore insufficiently equipped to face market challenges • lack of absolute top work • weakness in some key areas

  7. Loeff Claeys Verbeke (Belgium) in 1998 (4) • Recruitment position: • recruitment issue: lack of international career opportunities • retention: lack of clear strategy  high rotation of people - recruitment quality issue

  8. Loeff Claeys Verbeke (Belgium) in 1998 (5) • Technology and know how: • amounts (time) invested increases if ambition to stay at top

  9. Loeff Claeys Verbeke (Belgium) in 1998 (6) • Partners and their (shared) ambitions: • common vision on “where to compete”: 4 options: • fiercely independent • merge with Anglo-Saxon firm • join MDP • build pan-European firm

  10. A two-pronged track

  11. try to define common vision on “how to compete” / shared values • Relationship - driven • Shared clients among • partners • Client service team • approach • Mutual support • Commitment to • partnership • Shared firm economics True partnership Client service Values: - trust - guidance - cohesion - ... Values: - trust - guidance - cohesion - ... Practice structure • Attract, develop and • retain the best people • Apprenticeship model • Focus on personal • growth People pro- cesses • Flexible and loose • Multiple dimensions • Horizontal integration • and information flows Governance structure • Firm-wide boards and • committees • Members are firm • leaders

  12. Loeff Claeys Verbeke (Belgium) in 1998 (8) • Conclusion: • external assistance to help in process of defining strategy • merger may be an option • other options maybe as good or even better • BUT: • NOT defining a strategy is NOT an option

  13. IBA Conference Auckland Global Law Firms 25 October 2004 WIM DEJONGHE Allen & Overy LLP - Managing Partner Belgium

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