Downturn Prompts Shift In Power To Firms' COOs

Law360, New York (May 14, 2009, 12:00 AM EDT) -- While the economic downturn has forced many law firms to turn to layoffs and salary cuts as means to stay afloat, legal consultants say the occupants of one position – chief operating officer – not only have job security, but are likely gaining power at their firms.

Law firms increasingly are turning to their business executives for guidance as they rethink every aspect of their business models, from corporate governance to the billable hour, consultants said.

Meanwhile, the small number of law firms that don't have...
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