Law Firm Equity Structures

1

One-day conference

15 October 2009, London

Book before 14 August 2009 and save £149

To claim your CPD points for this event, please quote: ANS/ARCO This brochure is printed using Forest Stewardship Council Accredited paper

Managing Partner magazine presents

Law Firm Equity Structures

Devising a fair and rewarding equity structure that’s appropriate for your firm

"

A sound equity structure is absolutely key to a firm's culture and its ability to compete, but it is incredibly difficult for a fractious firm to face up to any problems at the heart of their structure, let alone change. As law firms struggle to achieve competitive edge in very difficult times, this conference will be an opportunity to learn from a highly experienced panel of speakers from a broad range of firms on how they see these issues and are responding to the challenges.

"

Richard Turnor, Partner, Maurice Turnor Gardner LLP and Conference Chair

Why you can't afford to miss this event:

Expert contributions from:

» Real-life case studies from leading law firms

» Addleshaw Goddard LLP

» Opportunities to pose your own burning questions and seek expert advice

» Burness LLP

» Plenty of interaction for optimum learning experience

» Dickinson Dees LLP

» Superb networking opportunities for building useful contacts » Explore in detail the pros and cons of different profit sharing systems » Assess the impact of the recession on your firm’s equity structure

» Fox Williams LLP » Hill Dickinson LLP

Highlights include: » Mark Jones, Chairman for Addleshaw Goddard LLP on assessing the impact of the recession on your firm’s equity structure; managing in a downturn and preparing for an upturn » Fox Williams LLP, DMH Stallard Solicitors LLP and Wilsons Solicitors LLP on why different law firms have taken different approaches to profit sharing systems » Nicola Davies, Chief Executive, Mourant on managing and measuring performance to improve effectiveness and drive your firm’s profitability and competitive advantage Researched by:

» DMH Stallard Solicitors LLP

» Maurice Turnor Gardner LLP » Mourant » Shoosmiths » Weightmans LLP » Wilsons Solicitors LLP

5 easy ways to register tel: 020 7549 2500

e-mail: [email protected]

fax: 020 7324 2373

web: www.ark-group.com

or see back page for mailing details

WHY THIS EVENT? Devising the right equity structure for your firm, particularly in terms of how the equity is shared, has become a much debated issue.

KEY AREAS OF FOCUS INCLUDE:

A well devised equity structure can foster a collegiate and supportive environment and a client-oriented culture that enables the firm to attract and retain highly motivated and successful people, leading to satisfied clients and a successful firm.

» Implementing a new equity structure

A poorly devised equity structure can create a dysfunctional environment, in which energy is diverted into internal power struggles, so that the firm struggles to retain and recruit good talent leading to dissatisfied clients and a less profitable firm.

» Managing and measuring performance

Therefore it is absolutely vital that firms get their equity structure right and review their equity structure regularly to reflect changing market conditions and firm needs.

» The Legal Services Act

» Profit sharing systems » The impact of the recession

» Governance » Reputation and brand

» Age discrimination rules

PAST FEEDBACK

Managing Partner's one-day Law Firm Equity Structures conference will explore how different law firms currently structure their equity, examine the pros and cons of different models, and assess the impact on a firm’s recruitment, retention, motivation, performance, and brand.

Previous delegate comments from our law firm equity structures events, led by Richard Turnor, present Chair for this event:

Targeted at UK law firm senior decision makers, this event will also consider how law firm equity structures are adapting in response to economic and regulatory change.

"A lot of thought-provoking topics raised. I got far more out of it than I had expected. The attendees were interesting, chatty and open in exchanging ideas."

"Excellent thought-provoking content."

"Very competent facilitator with a great deal of knowledge and experience with regards to course content."

Highlights include:

"Very relaxed, experienced, thoughtful. Style was very good. Open discussion helpful."

» Mark Jones, Chairman for Addleshaw Goddard LLP on assessing the impact of the recession on your firm’s equity structure; managing in a downturn and preparing for an upturn

"Very well informed and prompted with good questions."

ADVISORY BOARD

» Fox Williams LLP, DMH Stallard Solicitors LLP and Wilsons Solicitors LLP on why different law firms have taken different approaches to profit sharing systems

This event has been validated and researched with a wide range of law firm senior decision makers. We are grateful for the ideas they have provided us with for the speakers and the programme content. In particular our special thanks go to the following for their invaluable input:

» Nicola Davies, Chief Executive, Mourant on managing and measuring performance to improve effectiveness and drive your firm’s profitability and competitive advantage Through insightful case studies, facilitated discussion, and interactive audience participation, this unique event will enable delegates to devise a fair and rewarding equity structure that's appropriate and successful for their firm.

Rachel Khiara, Partner, ADDLESHAW GODDARD LLP Michael Shaw, Managing Partner, COBBETTS LLP Rafiq Ahmad, Finance Director, ANTHONY GOLD SOLICITORS LLP Simon Thackray, Managing Partner, THACKRAY WILLIAMS LLP Louis Manches, Senior Partner, MANCHES LLP

To maximise delegates’ learning at this event, Chatham House Rule will apply.

WHO SHOULD ATTEND?

» Partners

» CFOs

» Heads of practice

» Finance directors

» Senior partners

» CEOs

» HR Directors

» Managing partners

» COOs

» Partnership secretaries

tel: 020 7549 2500

fax: 020 7324 2373

e-mail: e

AGENDA

Thursday, 15 October 2009 » Positioning your firm so you are competitively and advantageously placed when the recovery happens Mark Jones, Chairman, Addleshaw Goddard LLP

09:00 Registration and refreshments 09:30 Chair’s opening remarks Richard Turnor, Partner, Maurice Turnor Gardner LLP 09:40 Exploring law firm equity structures and comparing profit sharing systems » Examining the pros and cons of the different profit sharing systems - lockstep, merit-based systems and hybrid systems » How can the different profit sharing systems impact on competitiveness and the culture and values of a firm » Examining the benefits of non-equity and fixed share tiers of partners » Addressing capital profit sharing, reserves, and loss sharing structures in your firm’s partnership agreement » Considering the impact of age discrimination rules on equity structure Peter Jackson, Managing Partner, Hill Dickinson LLP PANEL DISCUSSION 10:20 Examining why different law firms have taken different approaches to profit sharing systems Facilitated by the chair, this session will engage audience and panel members alike in an interactive and open discussion. » Assessing the advantages and disadvantages of different profit sharing systems » What’s the best way to structure your firm’s equity partnership that is sustainable for the future? » Determining the best equity model for your firm Tina Williams, Senior Partner, Fox Williams LLP Simon Bellm, Partner, DMH Stallard Solicitors LLP

14:10 Managing and measuring performance to improve effectiveness and drive your firm’s profitability and competitive advantage » Identifying and reviewing the criteria for evaluating performance » Measuring individual performance against each set of criteria » Evaluating your firm’s leadership in examining individual performance » Developing an effective appraisal process including 360° and self-appraisals, feedback, and provision of financial information » Examining the effectiveness of the appraisal team » Developing individual business plans and agreeing performance targets » Using coaching and mentoring techniques to maximise individual potential » Dealing with underperforming partners Nicola Davies, Chief Executive, Mourant 14:50 Reviewing governance elements of equity » The need for effective management » Identifying effective managers » The importance of transparency and accountability » The non executive role and committees » The role of the wider firm and voting systems Paul Stothard, Former Chief Executive, Shoosmiths 15:30 Afternoon coffee break

Jonathan Stephens, Managing Partner, Wilsons Solicitors LLP

16:00 The impact of the Legal Services Act on law firm equity structures

11:20 Morning coffee break 11:50 Changing your firm’s equity structure Identifying strengths and weaknesses of your existing structure What are you trying to achieve? How will it affect different partners and groups? Avoiding damage to the firm's culture and values and securing partner buy-in » Implementing a new profit sharing system and ensuring its success Philip Rodney, Chairman, Burness LLP » » » »

12:30 Assessing the impact of the recession on your firm’s equity structure; managing in a downturn and preparing for an upturn » Addressing the financial challenges a recession brings including falling turnover, rising lock up, bad debts, cash flow issues and counterparty risk » How should equity partners be rewarded in a difficult economic climate? Sharing reduced profits and losses and coping with the insolvency risk » Managing partner de-equitisation, exits and a partnership restructure - what are the pitfalls and opportunities? » Mergers or demergers and the impact on equity structure

[email protected]

13:10 Networking lunch break

» How will external investment impact on a firm’s equity structure and what are investors looking for in a firm’s equity? » The impact of the LSA on equity profit sharing » How will investments be structured? » How will external investment impact on a firm’s culture and management approach? » Examining the valuation and accounting issues Robin Bloom, Senior Partner, Dickinson Dees LLP 16:40 Understanding how your equity structure is perceived » How important is law firm reputation and brand? » Understanding how your firm’s equity structure and culture influences your firm’s reputation and brand » How important is a firm’s perceived profitability? » Should PEP influence equity structure? Patrick Gaul, Managing Partner, Weightmans LLP 17:20 Chair’s closing remarks 17:30 Close of conference

web: www.ark-group.com

WAYS TO REGISTER One-day conference

Law Firm Equity Structures

15 October 2009, London Booking ref:

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