Norton Rose Fulbright’s US managing partner Jeff Cody is emphasizing lawyer headcount growth as a key strategy for overall firm expansion. By the end of this year, the firm is expected to have approximately 900 US lawyers, up from around 850. Cody is optimistic that the firm will approach the milestone of 1,000 US lawyers by the end of next year, a number they had targeted following their 2017 merger with Chadbourne & Parke. According to Cody, lawyer growth is instrumental in driving overall firm revenue and productivity.
Norton Rose, which operates as a Swiss verein allowing regional branches financial autonomy, has added roughly 70 partners in the US since 2020, including a new office in Chicago and a team in Minneapolis. Despite the challenges, the firm’s US revenue grew by 13% last year, driven by increased demand in litigation, arbitration, and middle-market M&A deals. Read more.
On the technology front, Norton Rose is taking a cautious approach to generative artificial intelligence (AI). While some firms are heavily investing in AI developers or building internal data science teams, Norton Rose has opted for a “wait-and-see” strategy. Cody noted that law firms might struggle to adapt quickly if their current investments in AI do not pay off as expected. Still, he acknowledged the potential of AI tools to revolutionize the legal services market, particularly in drafting documents. The firm is testing new AI tools and aims to be a fast adopter of proven technologies to enhance efficiency in legal practice. For further insights, click here.