Matthew A. Taylor, Chairman and Chief Executive Officer of Duane Morris LLP, shares insights on overcoming today’s challenge of developing a strategy for success while building upon a culture that places client and colleague relationships first.

Relationships are key to law firm success. Effective leaders understand the importance of putting the client first, building a talented, diverse team and fostering a culture of teamwork and communication. They lead through the daily challenges, including the battle for talent, pressures from clients and succession planning, allowing their firm to prosper in a highly competitive market.

Describe Duane Morris and what sets the firm apart.

Duane Morris started as a partnership of Philadelphia lawyers more than a century ago, and now our dynamic, full-service law firm stretches from the U.S. to Europe and across Asia. As a growing law firm with over 900 attorneys in the U.S. and globally, we are committed to a collegial and collaborative culture and we are there to get the job done for the client. Our distinct culture is well-known within the legal industry and recognized by our clients. We communicate extremely well and are honest with our clients. We are there for them 24/7. Our clients also expect us to fight hard for them, and we do.

Our willingness to fight hard for our clients, and the fact that our clients like the way we treat one another as partners, sets our firm apart.”

Matthew A. Taylor
Chairman and Chief Executive Officer, Duane Morris LLP

Clients like to see that you understand their needs. How do you work that into your culture and get that across to your newest attorneys?

Our market strategy embraces both a practice area and industry focus, presenting ourselves as problem solvers and specialists in industries. We are proud of how great our lawyers are and their accomplishments as trial or transactional lawyers. But what clients want to know is: do you understand my industry? Do you understand what keeps me up at night? We have rallied around that industry focus and it has really been very effective for us.

Working client focus into our culture starts with getting our newest lawyers involved and giving them real exposure to clients right away. To me, that is a learned behavior. It’s refreshing for clients to see younger lawyers being present. We don’t have to bill for all that—it’s training time—but bringing those young lawyers into the fold is very important.

Knowing the battle for legal talent, how does Duane Morris market itself to new recruits?

The fact that our younger lawyers are getting first chair responsibilities earlier in their careers sets our firm apart and has been a great recruiting tool.

We also focus on training. We make sure that our lawyers are getting the core competencies they need to be successful in their practice groups. Young lawyers want training, exposure and the constructive criticism to improve. I think we do a good job of that at our firm.

With relationships being key to the success of practice growth, how do newer attorneys develop relationships given the post pandemic reduction in personal interaction?

In many ways, I think there has been more personal interaction since the pandemic with the utilization of Webex, Zoom and Teams, and clients are expecting their lawyers to reach out more. The interaction via video conferencing is robust and we are intentional about inviting our newer lawyers to these meetings.

Because so much can be learned this way, we encourage our lawyers to get together, and they have done so beautifully over the past year. We make sure that we are spending time with the younger lawyers and giving them opportunities in terms of traditional client development, whether it's going to shows, dinner or playing golf. That is how the new generation will develop and take over these relationships.

Team building, relationship building is an art, not a science, and you must be extremely disciplined about it and make sure you do it.”

Matthew A. Taylor
Chairman and Chief Executive Officer, Duane Morris LLP

In this competitive environment, how do you balance the downward pressure on billing rates with the competition for business?

It starts with being aware of where you are in the food chain in terms of what clients pay for services. One of our value propositions is that we are nimble with rates; we are willing to partner with clients and do alternative fee arrangements. We recognize the increased pressures on clients, and they appreciate that nimbleness.

At Duane Morris, we communicate well with our clients to make sure that we are listening to their budgets and concerns. We are also open about our rates and staffing of engagements.

What do you see as some of the key challenges to a firm such as yours in the current and evolving legal marketplace?

There are many challenges. One is pressures on clients. We are very sensitive to that. Larger clients now have larger procurement functions, which feels different than maybe it used to, and there is an increased challenge in navigating that.

Conflicts become more challenging as your law firm grows, although usually we can navigate that.

Another challenge is determining the right size for your firm. There is great pressure to grow, and we are doing a great job. The desire to grow never really ends but how do you execute on that? What’s the right move? Is it a big merger? Is it smaller mergers? It’s very dynamic out there.

Under the pressures to grow, there are challenges as to determining the right size of firm, but also maintaining what you have. It’s a tough balance.”

Matthew A. Taylor
Chairman and Chief Executive Officer, Duane Morris LLP

How are you focusing on your succession plan and including diversity and inclusion in that plan?

Our succession plan is built into our strategic plan, part of which is a focus on industries and intentionally filling out our inclusive industry teams with new leaders. The plan provides leadership opportunities to those who have not yet had the opportunity to lead to report up to the Executive Committee and to build their business plans. Coupled with providing leadership training, seminars and such, the plan has been a great tool for providing opportunities to a diverse group of people.

Hand in glove with that is our commitment to the Mansfield Rule. If there is a promotion opportunity, we ensure that diverse candidates are considered for the role and that the process is fair and gives equal opportunity to all qualified candidates. It is very powerful when you are open and realize this brings the best person for the job.

How do you go through the process of handing over the reins?

You start by having conversations. You communicate. You bring future leaders along. You would be surprised how receptive and open minded our current leaders have been to that notion.

What is the greater challenge—identifying leaders early in their career or challenging your current leaders to buy in?

The easy part is to find the talented lawyers that could develop into great leaders. Thankfully, we are blessed with incredible young partners that have great leadership skills—they need to be recognized. The current leaders, me included, need to be open minded and realize for the health of the organization future leaders need to be invited in and encouraged to eventually take over.

Describe your career trajectory.

I am very open about the fact I am looking for the next chair of the firm and trying to develop others so that they're ready to take over because that day is going to come. You need to be open to it and talk about it.

Duane Morris has been encouraging me and caring about bringing me up through the ranks of the firm since I joined in 1997. I hope that my legacy is that I pay that forward to the next generation.

I’m not the type of person that plans to retire. Long after I am Chairman, I hope to continue to add value to the firm.

I recognize the fact that I would be nowhere without the leaders before me and I am simply a caretaker of a 120-year-old law firm and that, if I did anything right, it was to maintain a really nice law firm for the next generation.”

Matthew A. Taylor
Chairman and Chief Executive Officer, Duane Morris LLP

Describe your best day.

The best day is when I get to spend time with my wife and kids. I have an unbelievable wife and fantastic kids. My best day at the firm is to see a young lawyer really excited about being assigned on a case and they can’t wait to dig into it.

Effective leaders are committed to and intentional about building relationships and developing talent for the continued success of the firm. Communication is key. Listen. Be honest. Meet the challenge.

Contact

The Professional Services Practice at Aon values your feedback. To discuss any of the topics raised in this article, please contact George J Wolf, Jr or Audrey Jenner.



George J Wolf, Jr
Managing Director
New York







Audrey Jenner
Vice President and Director
Montreal