Interview by Alex Aldridge
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Become a better lawyer: running a case, doing a deal, moving in-house and other tips from the top
I went into law by complete chance. I’d trained as an accountant and after a number of roles I ended up working for the BBC in London. I was away a lot and hardly seeing my kids, so I decided to move back nearer to home. The first job that came up was finance director at Thring Townsend in Swindon.
Initially working in a law firm drove me up the wall. The pace of decision making under the partnership model — with so many more people having a say than in the other organisations in which I’d worked — took some getting used to. However, it was also clear that there were opportunities for people with professional skills and management experience in what was evidently a growing sector.
Having moved to Shoosmiths in 2000, I was given the task of designing a new structure for the firm. I effectively replaced the old managing partner position with an elected CEO, and, perhaps rather hastily from my point of view, scrapped the finance director role. An extremely disquieting period followed as I stood against one of the equity partners for the CEO position, knowing that my future at the firm was on the line. Much to my relief, I won.
In a partnership, the “my way or the highway” approach doesn’t go down well. Behind the scenes political manoeuvring is far more effective. Just be prepared to spend an awful lot of time on it. A recent policy change to discontinue investment in a certain practice area required months of gauging of opinion and influencing.
Occasionally, however, you’ve got to play that dictatorial card. The trick is knowing when. I’m not sure I can give you a formula for that, I’m afraid. Although I can think of a few examples of when I should have played it, such as when I bowed to pressure during my early days as CEO to promote certain individuals despite knowing that they weren’t up to the task.
One of the greatest challenges is getting the partners to embrace change. Persuading them to let go of what they know is the hardest part — not made any easier by the fact that lawyers tend to be quite conservative. An understanding of human nature helps. Scare tactics are rather less useful.
It’s okay to be different. I’m a risk-taker. If something feels right in my heart and stomach, I’ll go for it. That may sound strange coming from an accountant, but I’d like to think that I’m not your typical number-cruncher. Anyway, my point is that businesses need a blend of personalities. I think it’s very healthy to have a few people around who are prepared to take a chance every now and again.
Admittedly, contrasting styles can lead to conflict. My approach to recruitment, for example, is at odds with that of most of the partners. Will the candidate fit in? That’s all I ask myself. Lawyers, on the other hand, tend to concentrate much more on the detail: which clients the person has got, the strength of the business case that they’re putting forward . . . So yes, we do have the odd disagreement.
Don’t be swayed by the noisy minority. If 80 per cent of the partners agree with you on an issue, that’s pretty good — probably as good as you’re going to get. It’s very easy to walk out of a meeting having decided what you’re going to do, then bump into a partner who has a particular beef and start thinking about changing your mind. I said change is slow in a law firm — boy, it can get really slow then!
If you’re going to put a wee speccy accountant in charge of the sweet shop, it’s important that the partners know there’s somebody keeping an eye on him. I report to the partnership counsel, plus I work on a day to day basis with the chairman, Andrew Tubbs, who acts as a link between me and the rest of the firm. Crucially, my remit is clear and simple: I can’t appoint new partners, alter existing partners’ remuneration or open new offices. Everything else, provided that it fits into the overall strategy, is within my authority.
It’s dead lonely at the top. Even more so when you’re a non-lawyer surrounded by a bunch of solicitors. Although I’m effectively a member of the partner group, I’ll always be that little bit of a step away.
Paul Stothard is the chief executive of Shoosmiths
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