The most widely read magazine for Canadian lawyers
Issue link: https://digital.canadianlawyermag.com/i/50812
foreign counterparts based on suggestions that referral networks have begun to lose a bit of their lustre. "The reces- sion has caused a lot of firms to say, 'Instead of transferring that piece of business to our affiliate firm, our best friend, in Toronto, why don't you guys get on a plane and we'll find a local counsel, and you go and close the deal yourself. So we'll keep the revenue, thank you,'" explains Wesemann. That approach has been helped along by the amorphous nature of legal services, especially in corporate commercial work, where it's often unclear where consulting stops and the prac- tice of law begins. Meanwhile, the volume of legal work in Canada is declin- ing as large corporations continue to be swallowed up by foreign investors. Legal departments of the large institutions that have remained intact seem increasingly intent on engag- ing a single, global firm for all of their legal needs. Simon Fish, executive vice president and general counsel at BMO Financial Group, has traditionally retained Ogilvy Renault. He says the firm's new international presence through Norton Rose will be of interest to him, especially in light of the firm's experience in Asia. "They've gained a presence in [China] which is now significant, and probably stronger than any other Canadian firm," says Fish. "We would have to see them as more than a Quebec-based Canadian firm. They're now part of a global network, with capabilities beyond those that they had previously." He adds that the idea of one-stop legal services shopping "has a certain attraction to it." It's not just clients that seem eager to get involved with global law firms. Many lawyers are also looking for a change of pace. By aligning their practice with a firm present in all of the world's major financial hubs, they can grow their client list and expand their skill set in a way that is typically impos- sible with domestic firms. "Most of my clients were inbound into Canada and the U.S., and I was leaving a lot on the table," says Jim Rossiter, an M&A specialist who left Cassels Brock & Blackwell LLP in Toronto for global firm Baker & McKenzie LLP in late 2009. He adds that it had been tough to make things happen on an international scale, as he was always working with other lawyers at other firms. At Baker & McKenzie — a 3,750-lawyer firm with 68 offices across the globe that opened its Toronto office in 1962 — he works on deals with his col- leagues across the continent who are all linked up by a single computer server. "So for me, it was very much a question of capturing clients that were going elsewhere, and bringing it all in-house," says Rossiter. "It certainly makes it more lucrative, but also it's a lot easier to service the client." He has recently worked on files in Argentina, Japan, Italy, and Spain. "I didn't even go after this; these are just people you know, and you're sitting and you're talking, and you don't bother," he says. "But all of a sudden [you realize], I'm part of a 4,000-lawyer global powerhouse firm. 'What are you doing in Tokyo? Yeah, I can take care of that for you.'" It's this unparalleled opportunity that Jim Holloway, man- THE PARTNERS OF MILLER THOMSON ARE PLEASED TO ANNOUNCE THE REAPPOINTMENT OF GERALD D. COURAGE AS CHAIR. With 11 offices across Canada, our people share one vision and one goal — delivering cost-effective and creative advice with a no-nonsense approach. It's what matters most to our clients. Gerald is a Senior Tax Partner in the Toronto office of Miller Thomson with more than 30 years of legal and management experience. He is a graduate of Queen's University Law School and earned his LL.M. at Harvard Law School. Added experience. Added clarity. Added value. Miller Thomson LLP millerthomson.com With more than 470 lawyers in 11 offices across the country, we offer a complete range of legal services to assist domestic and international decision-makers with their Canadian legal needs. VANCOUVER CALGARY EDMONTON SASKATOON REGINA LONDON KITCHENER-WATERLOO GUELPH TORONTO MARKHAM MONTRÉAL aging partner of Baker & McKenzie in Toronto, says has allowed his firm to recently pluck an impressive list of later- als from other top national firms. Holloway points out that global law firms are a relatively new phenomenon. Many consider Baker & McKenzie — which has by now bulked up significantly from the base of 26 offices in 20 countries it had in the late 1970s — to be a pioneer of the model. While it is well-established, many of the other large global firms have up to now been focused on planting their flags in the primary global financial centres of London, New York, Hong Kong, Beijing, and Tokyo. With their presence in those cities now well-established, they're poised to move into strong, yet sec- ondary, financial capitals like Toronto. "Canada is certainly on everybody's radar screen," says Holloway. "I don't think it's the epicentre of anyone's strategy, nor should it be, but it's becoming an increasingly relevant market, and as these firms get established in other places, we move up the list of other next locations." Some of Canada's top regional firms admit to being courted by such firms. Brian Fulton is the managing partner of Lawson Lundell LLP, which has established itself as a strong regional firm in Western Canada, with about 100 lawyers in its Vancouver office joined by small offices in Calgary and Yellowknife. The firm has thrived under the regional format by establishing a niche in the mining and energy markets. Fulton says partners will meet this spring for regu- larly scheduled strategy sessions, and admits those talks will be particularly timely in light of the recent flurry of merger activity. It's a topic that simply can't be avoided. International 32 FEBRUA R Y 2011 www. CANADIAN Lawyermag.com ntitled-1 1 1/25/11 12:58:13 PM