BSN City Group Newsletter – May 2013
Bloomberg TV – Legal Business Development
As part of our aim to bring you news of specific interest to City lawyers, BSN City Group is delighted to bring you an insightful news item broadcast recently on Bloomberg TV, featuring an interview with Trevor Faure, Global Leader & Partner, Legal Services with Ernst & Young. A synopsis of this news item is set out below, followed by a link to the full interview:
Business development – does the Law Firm “sell” match the modern General Counsel’s needs?
The general consensus is that the “Big 4” professional services firms are between 5-10 years ahead of “Big Law” in their operational sophistication and integration; one example of this is client business development. Law Firms may learn how to augment their traditional approach of Relationship + Reputation = Reassurance (“R&R = R”!) with prescient, usable programs highly tailored to a specific client’s needs, instead of the scattergun approach of social events and oft-deleted legal bulletins.