13 August 2014

Law firms grow 33pc faster with non-exec on board

Top 100 UK law firms with one or more non-executive directors have shown growth of one third higher over the last four years than those without.

By Neasa MacErlean

Law firms with Non-Execs are seeing enhanced growth Sergey Nivens

Research carried out by executive search organisation Edward Drummond found that the 24 firms with a non-exec presence have grown at an average rate of 12 per cent over that period - compared to 9 per cent for the practices without an NED (non-executive director). 

Strategy and objectives

Neill Fry, director of Edward Drummond, told HR magazine: ‘Law firms that have good corporate governance structures certainly aren’t exempt from failure, but they are more likely to have stringent processes for making strategic decisions. An NED can provide constructive challenges to the firm’s strategy and objectives – as well as acting as a vital sounding board – which can really help to support the firm’s growth.’ Source: HR magazine

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