In a world where markets are volatile, cultures collide, and client expectations constantly evolve, two leaders from K&L Gates have revealed the high-stakes challenges – and unique opportunities – facing the firm as it navigates the complexities of being a global law practice.
Speaking on a recent episode of Legal Firesides, produced exclusively for Lawyers Weekly Premium members, Jason Opperman, K&L Gates’ Australian regional managing partner, and Craig Budner, its global strategic growth partner, delved into the headwinds and challenges confronting global law firms like K&L Gates amid rapidly shifting geopolitical and technological landscapes.
In the same episode, the pair shared how the firm intends to cement its standing as a dominant force in Australia’s legal market.
Opperman highlighted that one of the biggest challenges for K&L Gates as a global law firm lies in the cultural differences individuals bring – not only in how they approach the market but also in how they operate day to day.
“One of the most interesting but also challenging aspects of working in a global firm is the differences in culture, in mindset, both in terms of going to market, but also in the way that people operate,” Opperman said.
Despite these complexities, Opperman explained that K&L Gates has implemented strategies to bridge cultural and operational differences while fostering seamless collaboration across its offices.
“Lawyers operate within their own jurisdictions and their own systems, and what we’re very good at is finding a way to navigate those differences, build the bridges and collaborate together internationally and within our local markets,” Opperman said.
“We’re very focused on being as strong as we can be in our local markets, but also being able to adapt and flex into international markets as well through that mindset.”
Budner also acknowledged this as a major challenge but stressed the importance of deliberate coordination across the firm’s 48 offices on five continents to ensure opportunities aren’t missed and the firm remains ahead of market trends.
“We have to be really intentional because we have 48 offices on five continents, and the advantage of the firm is the incentives we have to work together for collaborative solutions across the globe,” Budner said.
“If we’re not intentional about keeping the various practices and industry specialties top of mind when we’re talking with our clients, we’re going to miss a lot of opportunities. So that’s one potential headwind.”
Budner also pointed out that as countries navigate their own unique economic landscapes, global markets are moving at different speeds, making it essential for international firms to monitor developments closely – particularly in the United States.
“It’s pistons up, pistons down in different parts of the world. So, a driver in the United States, for example, right now that may be impeding some M&A activity is the higher borrowing rates,” Budner said.
“You see pressure coming from the executive branch [onto] the Fed to lower those interest rates. Why? Because they want to unleash some of the money that’s sitting on the sidelines. So that impacts a lot of markets, not just the United States.”
Efficiency in litigation represents another pressure point for global law firms, with Budner emphasising the need to leverage AI and technology to demonstrate responsible stewardship of client resources.
“In litigation, we need to be using AI and technological tools to be more efficient. A lot of clients don’t want to pursue litigation that they probably should pursue because it has become inefficient. We’ve got to show them that we can be good stewards of their resources,” Budner said.
However, beyond these challenges, Budner expressed strong optimism about emerging opportunities locally and internationally, particularly in Australia, as the global business landscape continues to evolve.
“I’m really excited about the way we are globally facing the opportunities that exist both within Australia and Australia’s place in the global business ecosystem. I think it is something that is continuing to evolve and grow, and as we’ve seen, particularly over the last six to nine months, things are moving very rapidly and very quickly,” Budner said.
“That change is really exciting, and we jump on that wave of change and spot the opportunities and adapt really quickly. We’re going to succeed, but we’ll succeed in the interests of our clients as well as our people.”
Looking ahead for K&L Gates, Opperman also highlighted how the firm’s strategic footprint across Asia and Australia strengthens its capabilities and aligns seamlessly with its global strategy.
“I’d say we are really fortunate to have lawyers in these markets in Australia, and we’ve also made a big investment in Asia. So you see the wonderful synergies between Asia and Australia and the rest of the world,” Opperman said.
“But to have these practitioners sitting in the same time zones with our Asia practices is a real advantage for our firm.”
