Reporting live from the heart of the action at CMO Series Live in New York, we’re bringing you the insights from the first half of the afternoon sessions.

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COO Panel: Challenges and Opportunities in Legal going into H2 2024

The afternoon kicked off with our Chief Operating Officers Panel discussion featuring Ralph Allen from Kelley Drye & Warren, Ann Westover from Axinn, Adam Kassoff from Vinson & Elkins, and Jennifer Korff from Brown Rudnick. 

Moderated by Kelly Harbour, this session delved into the challenges and opportunities facing law firms as they move into the second half of 2024.

Here are the highlights:

Balancing time and resources - One key insight was the importance of balancing time and resources across teams efficiently. The COOs discussed strategies for optimizing workflow and ensuring that resources are allocated effectively to meet client needs while maintaining profitability.

Managing partner expectations - The panelists also highlighted the critical role of managing Partner expectations. They shared strategies for effectively communicating with Partners, aligning priorities, and fostering collaboration to drive firm-wide success.

Building effective Chief teams - Another key takeaway was the importance of building effective Chief teams. The COOs discussed the evolving role of COOs and the skills and qualities necessary to lead a successful team, emphasizing the value of diverse backgrounds and experiences.

Pathways to COO - The panelists provided valuable insights into the pathway to becoming a COO, highlighting the transferable skills and experiences from leadership roles in Marketing, Communications, and Business Development backgrounds.

A Case Study: Using Technology to Stay Ahead of the Curve

In this session, Alison Arjoon, Chief Marketing and Business Development Officer at Fragomen and Luke Ferrandino, Chief Marketing Officer at Paul Weiss took to the stage to highlight how law firms are leveraging technology to achieve their goals. 

Here are the takeaways:

Exploring current technologies: Luke and Alison provided an in-depth look at the various technologies currently being utilized by law firms. They emphasized how these tools are helping firms achieve their goals more efficiently and effectively.

Best practices for tech adoption: The session covered best practices for adopting new technologies and how to determine the right time to implement new tools. They stressed the importance of building a culture of experimentation and curiosity to ensure successful tech adoption.

AI's growing influence: AI is becoming increasingly integral in solving core challenges faced by law firms, from streamlining processes to enhancing decision-making capabilities.

Building trust through reporting: Luke and Alison highlighted the impact of transparent reporting on building a culture of trust within firms.

Impact on associates: The session also touched on how technology impacts Associates and provided tips on managing these changes. Effective management and clear communication are key to ensuring that Associates can adapt to and benefit from new technological tools.