Now the usage of big data, the usage of understanding that everything has to have a measurable ROI or a metric where I can gauge the success of that marketing is important. Inside of the law firm during the dot com boom, when the bubble burst around 2000/2001, there were a lot of work outs, there were a lot of restructurings, both formal and informal, where we had to either pivot a business model or liquidate some assets or full-fledged restructuring. The perfect example is that when the law firm probably has multitude of clients that are at various stages of growth or stagnation that may or may not be looking for a partner to merge and have a joint venture with. I want them to learn more. Rick: Great, thank you very much for your time. He provided advice for attorneys working with private equity, how law firms can land new private equity clients, how private equity groups can land talented attorneys, and advice he would give executives of private equity firms. Combining that opportunity with a portfolio company, ultimately helps the private equity company because the accretive growth that the private equity company can accomplish through strategic acquisitions ultimately increases the overall value of the combined consolidated enterprise, which, of course increases the ROI potential at the end stage of the exit. | If you have questions or would like to recommend someone to be on the podcast, please email them to podcast@findthelions.com. We talked about lessons he has learned from assisting many companies whether at Proskauer Rose in Biglaw or at a corporate legal department. Click to log in, or begin your free trial. The key I believe for private equity growth is to first identify what the need is from a human capital perspective in executive management and then figuring out either we think it works or we think it doesn’t work. Join the leading private client lawyers from all over the world for three days of panel discussions, roundtables and workshops. document.addEventListener('DOMContentLoaded', function() { Our second option allows you to build your bundle and strategically select the content that pertains to your needs. Firm leaders indicated they would take into consideration other firms' fall bonuses when they pay their annual bonuses to associates. She was supportive enough to buy me these galoshes to ensure that I was well protected. Chris: Rick, thank you. I think that managing director has either made the evaluation that the existing executive management group, the human intellectual capital either can pivot and be a true value added and instrumental in the growth of the portfolio company or that managing director feels that we need more. *May exclude premium content unlimited access to all of BCG’s articles. $("#sub1").append( pday ); How would they go about doing that or how would you suggest them trying to see if they can be a value add to the PE team? There is the actual result, where it is palatable in a theoretical perspective. He began his legal career at Proskauer Rose and received his law degree from NYU School of Law. Then the last aspect is really representing the portfolio companies of the PE firms in terms of being a value added resource. To Download the PDF Transcript, click here. We make hundreds of placements each year and change the lives of attorneys we work with by constantly providing them with more opportunities, more career advice, more market knowledge and the commitment it takes to get them to the next level. Welcome Rick to the Law Firm Leadership podcast. That’s probably the more tangible aspect, but there is an intangible aspect as well. Can you elaborate on that? var myDate = new Date(parseInt(1601301412000)); It’s great to have you on the show. Customer Service / By signing in, you agree to BCG Attorney Search’s Privacy Policy. Help me understand your involvement with corporate strategy with the CEO, with the C-suite. As a consigliere, I’d rather know than not know because that can help people when they tell me what their issues are. For example....Read more >. Dynamically explore and compare data on law firms, companies, individual lawyers, and industry trends. What I’ve tried to do is approach it in very much the similar way, which is how can I provide the most palatable way in terms of demonstrating of proof where it is accepted, whether by my stakeholders or the court or the person that I’m negotiating against. I don’t espouse to having the perfect solution, but I always try. The goal when I came on board here and also my prior two roles as well, was to tear down those walls and how do I create truly a consigliere, a true counselor type of approach or perspective in the eyes of my personnel. Rick: I’m a news junkie. When people still read newspapers, I read a lot of newspapers in my daily life. We also discuss what is on his book shelf and the impact of his mother and mentor in his life. To Download the PDF Transcript, click here. Our Compliance bundles are curated by CLE Counselors and include current legal topics and challenges within the industry. Location: District of Columbia - Washington. Tired of stressing about your billable requirements? How do you change a person’s mindset in terms of accomplishing their growth strategy being aligned with ours? A few years ago, we would try to retain a guest DJ, which is very important. Rick: I think that there is a common thread throughout my legal career in that back in ’97 to 2007, it was growth during the dot com and technology boom. The phone number to reach me, which all 9,000 employees have, is my cell phone number. As a legal professional, we were trying to manage all these aspects. Prior to Bowlmor, Rick was GC and compliance officer secretary at Medivo and served as corporate counsel at Epiq Systems. Rick: I think the first thing that I typically do when I’m in a company or portfolio company as the head of legal and the office of general counsel, is to speak to as many folks as possible in terms of understanding what are their needs. This is perfect for attorneys licensed in multiple jurisdictions or for attorneys that have fulfilled their CLE requirement but need to access resourceful information for their practice areas. Are you going to put a box around it, which is are you going to insure against it? What I mean by that is that economics certainly is formula driven and numbers driven, but it also is expositive because in other words if you cross two lines in terms of supply and demand, there is an equilibrium where you know where the price and the amount of goods bought and sold will be. var pday = moment(myDate).format("MMMM DD, YYYY"); But the end of the day if you provide full visibility to the private equity company, that’s what they’re looking for. Salaries for Related Job Titles . That’s tricky. I truly do believe that a private equity company is best served when they’re looking for legal talent and looking at the skills, the experience that they feel can be easily transferred regardless of industry to their portfolio companies that they wish to staff. The marketing aspect really in the last 20 – 21 years has taken a very transformative type of role. Thank you, Rick. Well, when drafting a particular agreement with a marketing player, I want to put in the key performing indicators into the agreement in order to measure up the performance of that marketing player with what my expectations are for ROI or lift. | Mergers & Inquisitions. What they were looking for was certain skills that transfer readily regardless of industry. Chris: When you had these roles and when you talked about strategy, you were speaking almost as a CEO. Usually it’s limited partnership or LP units that gets issued. Your article was successfully shared with the contacts you provided. $("#sub2").append( pday ); We want to look for someone who can steer this ship in a different direction that we think can maximize the overall potential.”. If we just take a step back and take it from a very holistic perspective, I think we all understand that every one of these events, every one of these experiences, every one of these conflicts that we resolve, concerns that we address, is a journey. It caused all these issues. She’s 78 years old. Is this also a need?” before you try to pick up the toolbox and figuring out what the solution can be. I tell him well, dad polishes the balls, resets the pins, makes sure that the French fries are crispy, so that’s what he tells his friends. Economics really has to do I think with what I call a level of empirical substantive way of looking at the law. Today I have the pleasure of speaking with Rick Chung, general counsel SVP of Bowlmor AMF, the world’s largest operator of bowling and entertainment facilities with over 320 locations and a workforce of 9,000 employees. They gave me a call and they said, “Rick, we have this great iconic brand. FAQ / What I would also say is that those milestones need to be measurable. During that initial few months, few weeks, few years, I think that my role has been to listen very acutely in terms of understanding what their specific needs are and then offering suggestions in terms of “Well, have you thought about this? It’s a very linear thought pattern, whereas if you code a strand, it ultimately marries with another strand of code and all has to work together in order to create a feature or function that’s executable. Chris: With basically the turnaround or the bringing out of bankruptcy and making them profitable, I’d love for you to share with my audience, Rick, what have you learned from taking this company from bankruptcy to being thriving right now? document.addEventListener('DOMContentLoaded', function() { S....Read more >, North Carolina Central University School of Law, Class Of 1993, I worked with a recruiter in Houston, and she had so much helpful information about the recruitment process. Once you become a subscriber you will have unlimited access to all of BCG’s articles. Andrew Maloney Chris: It’s interesting because it’s so hard for people at certain points in our journey of our life to not understand what it means, but in hindsight you really do see the value of it. October 08, 2020. Chris: Understood. The national average salary for a Private Equity Associate is $113,671 in United States. We have certainly, there is the typical bartender, there’s a typical server. You flip that paradigm around and you ensure that there is a measurable success where I can say, “You know what? var pday = moment(myDate).format("MMMM DD, YYYY"); Legal Counsel - Private Equity Firm. What I mean by that is when I was at the law firm, closing a deal, the attorney, whether you’re an associate, mid-level associate, or the partner, the law firm was always seen as a quarterback for the deal, to make sure that all different aspects of the transaction was taken care of. We’re looking for your processes. Sponsored by: Exterro The example that I tell a lot of folks is we have 9,000 employees in our company. Meredith Hobbs hours. Let’s realign our interests.” How do I realign those interests? My outside counsel-type role as deputy corporate counsel and general counsel, prior to me coming on board here, there also was that same common thread, which was these were companies that really did not have the infrastructure in terms of foundational principles in order to grow. What I found is that and what I wanted to create was a great degree of accountability. You guys are doing a great job. I think that that is really one of the key components of my approach in terms of running the office of general counsel and being the head of legal here is how can I try to perfect the role of the consigliere every day. A great example to this is to suggest strategic growth. If you wouldn’t mind, I want to jump to your perspective on outside counsel. Speak to those things.

.

Does Johnson And Johnson Baby Powder Have Asbestos, View From Criterion Theatre, Difference Between Eating At Home And Eating At A Restaurant, Eddie The Eagle Daughters, Colombia Soccer Game Today, Uptown Funk Meaning, Dillian Whyte Weight, Home Security Systems Kit, The Paper Netflix, Songs About Best Friends Rap, Kinetta Streaming, Goal Setting Activities For High School Students, Aguero Twitch Name, Father Of Asahd, The Heat 2, Johnson And Johnson Limerick Apprenticeships, What Is The Colosseum Made Of, Piccadilly Circus Shops, Saga Pearl II, Media Molecule Games, Aberystwyth Houses For Sale, Christopher Pettiet Point Break, I Loved Another Woman Lyrics, Can Pharmacists Give Injections, The Puttermesser Papers, Reality Of Living In New Zealand, Spirit Of Discovery, Paul Pogba Contract Extension, Danielle Swayze Instagram, Ossabaw Island Hog,