w w w . C A N A D I A N L a w y e r m a g . c o m N o v e m b e r / D e c e m b e r 2 0 1 4 45
rics over the last two years from its
law firms will eventually influence what
firms BMO's legal department does busi-
ness with. "The banking industry is a
major employer of legal services in Cana-
da and is in a position to move the needle
in the corporate diversity space," says
Fish. "Law firms have never before been
challenged in this way. This initiative will
be an evolution for the industry with the
our concerted efforts as global enterprises
will affect change and encourage other
companies to follow our lead."
In late September, Fish announced
that data collected around diversity met-
From the following examples of AFAs please select the
ones you are currently using or would consider using:
Discount - 56.39%
Flat - 55.64%
Fixed - 51.13%
capped - 49.62%
value billing - 35.34%
collared - 17.29%
retainer - 17.29%
contingency - 15.79%
Holdback/success fee - 13.53%
Phased fees on specific projects - 10.53%
busted deal - 9.02%
Would you be receptive
to another law firm if they
proposed an alternative
fee arrangement?
Yes
76%
No
24%
Who
introduced
the idea of
using AFAs?
We did
73%
our law firm suggested it
6%
We have mutually discussed AFAs
21%
Untitled-4 1 2014-10-29 8:37 AM
