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BigLaw cannot be ‘inward facing’
Australia is a big beneficiary of globalisation and firms at the big end of town must continue to look outward as we pivot to a post-pandemic world, says Sue Kench.
Jerome Doraisamy
The age of coronavirus has, in the workplace context, accelerated numerous professional trends, and in the geopolitical realm, sped up the current tendencies of nations to look inward. Whilst evolutions to daily legal practice can and should be welcomed, King & Wood Mallesons global chief executive believes that a globalist approach is still crucial for the ongoing success of BigLaw firms.
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Speaking recently on The Lawyers Weekly Show, Ms Kench said that many countries “have become so inward facing” in the wake of COVID-19, but looking ahead, and recognising that nations like Australia and China “have done incredibly well because of globalisation”, she still takes the view that “globalisation is good”.
“Australia has won out of it, and I hope that that remains the case and is appreciated by many,” she mused.
Coupled with this mindset, Ms Kench added, are considerations around diversification of a firm, and how best BigLaw can do both given how intertwined the major economies are.
“[KWM is] a firm that is grounded in Australia, China, Hong Kong and Singapore, and what we are seeing at the moment is growth is starting to come back. I don’t know what the next year or two will hold, but in the next 10, 20 or 30 years, Asia is certainly where we will see growth,” she said.
Not only is this prospect hugely exciting, she continued, but it remains essential that BigLaw firms remember this growth trajectory despite the current global economic downturn.
“Be responsive, be nimble, and don’t get stuck in the detail all the time. In the end, you’ve got to move fast – recognising, of course, that some decisions may need correction – but you’ve just got to keep moving forward,” Ms Kench submitted.
“It’s about taking opportunities. Know there’s no one person who’s the smartest person in the room, bring great teams together, make decisions and move on.
“Each of the global law firms will have their different strategies and their priorities, but ours is certainly one which is very centred and grounded on growth, which is expected to come from Asia, and we feel we’re very well positioned for it.
“I do hope, once we’re through this pandemic, that everyone starts looking more outwardly rather than inwardly. I’m an optimist – let’s get cracking.”
In the same conversation, Ms Kench said it is imperative that BigLaw firms strike the right balance between immediate concerns and long-term strategy at this critical juncture.
To listen to the full conversation with Sue Kench, click below:
