In this episode of the Market Leaders Podcast, host David Ackert sits down with Kate Stoddard, Chief Marketing Officer at Kelley Drye, to explore the pervasive issue of siloing within law firms and how to overcome it. Drawing on her 15 years of experience at Kelley Drye, Kate shares insights into the firm's business development strategy and the innovative approaches they've taken to foster cohesion and enhance client service.

Kate delves into the challenges posed by siloing, describing law firms as "archipelagos"—a collection of individual practices operating independently rather than as a cohesive unit. She discusses the importance of collaboration, training, and leadership in breaking down these silos, providing practical examples from Kelley Drye's marketing department and firm-wide initiatives.

Listeners will gain valuable perspectives on transforming law firm culture and enhancing client relationships through teamwork and collaboration. Kate offers advice for firms struggling with cohesion, emphasizing the need for leadership commitment, clear expectations, and continuous communication.

In this episode of the Market Leaders Podcast, host David Ackert interviews Sian Story, General Counsel at Vendavo, about her unique career journey. Sian shares how she started in tax law in the UK and eventually moved to Silicon Valley, where she worked at Osborne Clarke advising U.S. companies on European law. Unlike most in-house counsel, she took on a dual role that combined legal work with business development, giving her valuable experience in building client relationships and understanding the business development process from both sides of the table.

Sian discusses the importance of personalized client relationship-building for successful business development in the legal industry. Rather than relying on generic networking events or impersonal email blasts, she highlights how creating meaningful one-on-one connections through tailored events, coffee meetings, and informal conversations can foster trust with clients. These bespoke approaches allow lawyers to understand and solve specific client pain points, which ultimately leads to stronger, long-term relationships.

Throughout the conversation, Sian touches on the evolving role of sales in legal practice and the increasing impact of AI on the industry. She argues that law firms must embrace the sales process and train junior lawyers early in their careers to develop lasting client networks. As AI and alternative legal service providers continue to change the landscape, Sian emphasizes that building authentic, trusted relationships will remain a key differentiator for lawyers in the future.

In this episode of the Market Leaders Podcast, host David Ackert interviews Guest Chris Pullen, Head of Business Development at Kennedys. Chris shares his extensive experience spanning over thirty years in law, including a significant period at Ernst & Young. They discuss the perceived encroachment of the big four accounting firms into the legal market and explore why this hasn't materialized as expected.

Chris highlights the advantages the big four hold, such as their global scale and strong sales culture, and contrasts them with the inherent strengths of traditional law firms, including depth in major jurisdictions and the ability to handle significant litigation. They explore deeply the cultural differences between the two types of firms, particularly in client relationship management and the focus on margins.

Chris also provides valuable lessons that law firms can learn from the big four, emphasizing the importance of systematic processes and future-focused strategies. Tune in for an insightful discussion on the evolving dynamics between law firms and the big four.