Legal Leadership in the rise of stakeholder capitalism
The sixth Innovative Lawyers Summit hosted by the Financial Times and RSGI was a three-day festival exploring themes of speed, sustainability, trust and collaboration. You can access the sessions by theme, on demand.
The pandemic accelerated underlying trends such as the move to digital, the need to be resilient and sustainable and the dangers of misinformation undermining trust in institutions and processes. The rise of stakeholder capitalism, which believes business should serve customers, suppliers, workers and communities as well as shareholders is both a challenge and an opportunity for the commercial legal profession. But as the chief executive become more politicised, the role of commercial legal leaders, who have traditionally been apolitical, becomes unclear. Should legal leaders intervene to make a difference? And if so, what does that intervention look like? What strategies and tools are available to them to be effective as leaders in this complex environment?
The FT/RSG virtual summit gathered law firm leaders, general counsel, academics and other business innovators, to discuss the role commercial lawyers should play in addressing some of the dilemmas facing business and society.
The Big Interviews
Matthew Syed, Author of Rebel Ideas and Black Box Thinking speaks about echo chambers with Andrew Hill, Management Editor of the FT
Heidi Gardner, Harvard law School with Reena SenGupta, Executive Director, RSGI
Scott Farrell – Interview with Reena SenGupta
Trust and Transparency
Against the backdrop of a loss of public trust in government, democratic process, mainstream media and professional experts, the leaders of law firms and corporate legal functions find themselves in the crosshairs of competing forces. Numerous studies confirm that companies who are truthful, trusted and transparent are better long-term performers. Being the trusted advisor has been a natural role for lawyers. But what does it mean now in a 2021 context? Could and should lawyers use their privileged roles and status to play a bigger part in helping to restore confidence in business and public institutions? What is the remit of legal leaders – general counsel and law firm leaders – in generating trust and transparency in their organisations, their clients and in business and society more broadly?
Speakers:
Sharon Cook, National Australia Bank; Scott Thiel, Partner, DLA Piper; Ian Laing, Partner, Pinsent Masons
Kevin Gold, Chair, Mishcon de Reya; Nigel Boardman, Consultant, Slaughter and May
Horacio Gutierrez, GC, Spotify; Joe Andrew, Chair, Dentons
Accelerating Business
Covid-19 dramatically accelerated the digital transformation of global business. The speed at which products get to market or contracts are signed give competitive advantage and, in some cases, mean the difference between staying in business or failing. Corporate legal teams are a central part of business processes and ultimately a critical component in commercial success. For both branches of the profession, the pressure to change working methods is acute. From streamlining the commercial contracting process to working agilely to including non-legal talent in teams, lawyers have had to become digital and flexible overnight. Find out how the legal industry sped up during the pandemic and the implications for law firms and corporate legal departments.
Speakers:
Stuart Fuller, Global Head of Legal Services, KPMG; Laura Quatela, CLO, Lenovo; Mark Tan, GC, GLP
Sam Bunting, PA Consulting; Janet Taylor-Hall, Cognia Law; Christina Demetriades, EMEA GC, Accenture; Leanne Geale, General Counsel, Nestle
Neil Araujo, CEO, iManage; Bennet Borden, Faegre; John Blood, GC, AB-InBev; Amy Fliegelman Olli, GC, VMWare
Leading ESG
The environmental, social and governance agenda is becoming a central part of the lawyers’ remit. Numerous law firms have set up dedicated ESG practices and in-house legal teams are leading their companies’ ESG agendas. But the legal profession is still in the nascent stages of knowing how best to use its position, passion, knowledge and acumen to impact the ESG agenda. Hear from general counsel and law firm leaders who are using their status and influence to forge a path for lawyers to take a leading role in the most pressing business and social challenges of the decade.
Speakers:
Lyndall Stoyles, Telstra; Caroline Cox, BHP; Martijn Wilder, Pollination Group; George Zhu, Jun He
James Thornton, Founder and CEO, Client Earth; Alastair Morrison, Partner, Pinsent Masons; Rosemary Martin, General Counsel, Vodafone
Alicia Pierhoples, Georgetown University; Kristin Casper, GC, Greenpeace; Susan Mac Cormac – Morrison & Foerster
The Break-Out Debates
Whether Blockchain will revolutionise legal practice. Yes/No?
The extent to which the 3rd pillar of the legal ecosystem (law companies, the big 4, legal technology and consulting firms) is disrupting in-house and private practice lawyers;
The role of big law and general counsel in stakeholder capitalism?
