Richard A. Rosenbaum, Executive Chairman of Greenberg Traurig, opines that many large law firms are pursuing growth strategies that prioritize short-term financial performance over the cultural foundations that sustain long-term success. In the article, he warns that the profession's focus on mergers, outside investment, and rapid expansion reflects a belief that revenue and profits can substitute for the relationships and values that hold firms together.
Rosenbaum contends that firms cannot "buy, merge, or financially engineer" their way to lasting success and points to history as evidence that organizations built primarily around financial incentives often struggle to endure. Instead, he advocates for cultures grounded in trust, meritocracy, and respect for individuals.
He also challenges the notion that the legal industry's future revolves exclusively around major financial centers such as New York and London. He adds, “True strength comes from geographic diversification and respecting that every market is unique.” In his view, firms are best served by being nimble and locally responsive rather than governed by excessive centralized bureaucracy.
On technology, he cautions that AI is only an amplifier, noting that if firms automate a poor culture, they simply create "faster bureaucracy." He concludes that "scale for the sake of scale is a trap" and that the legal profession's most important asset remains the human trust that connects lawyers, clients, and colleagues.
LINKS
Read “Culture Is the Only Strategy: Why Big Law's Obsession With Scale is a Mirage,” authored by Richard A. Rosenbaum, published by The American Lawyer.