NEW YORK – March 21, 2016 – Greenberg Traurig, LLP was recently recognized as one of eight law firms that have earned a reputation among in-house counsel as leaders of the pack with regard to innovation, and among 28 firms that “perfect the art of brand-building,” according to the 2016 BTI Brand Elite Report by BTI Consulting Group (Wellesley, Mass.).
“We take great pride in that Greenberg Traurig is once again listed among the top firms known among General Counsel for our willingness to try new things; to look for different ways to introduce new pricing models, new staffing models, or changes in the way legal services are provided. All of which we have done and done very well,” stated Brian Duffy, Chief Executive Officer of Greenberg Traurig.
“Innovation is very important in attracting new clients,” BTI President Michael Rynowecer said in the Law360 report, “GCs Say These 8 Firms Are Most Innovative.”
Greenberg Traurig was cited as among the “best of the best” at leading the way in creating new legal services and setting a standard that clients will expect moving forward. In the same report, Greenberg Traurig was also among 28 firms who “succeeded at developing and maintaining powerful brands by offering superior service to their clients, which ultimately led to wider recognition in the marketplace, more business, and even significantly higher profits per equity partner than other firms,” according to BTI.
“The report cites that many firms are now working on these issues in the face of increased competition and the fact that GCs are shedding firms who do not understand their need for efficiency and quality. However, I am more encouraged by the fact that we are not doing these things as a reaction but have been doing them proactively for years. ‘Elite’ is more than just a ranking at Greenberg Traurig, it is simply what makes up this amazing convergence of life, law, and business we call Greenberg Traurig,” continued Duffy.
“Elite brands are considered for hire and hired more often than those with lesser brands. The elite brand commands more value because clients will happily pay more for an experience, which makes their lives better and more streamlined. So ultimately, this is about driving revenue. A firm with a better brand, over time, will drive substantially more revenue than a firm that does not have as strong a brand,” stated Rynowecer in the Law360 report, “GCs Name Most Elite Law Firms.”
According to the report, the 28 elite firms have “established solid, long-lasting reputations for handling high-stakes issues — and that dedication appears to be paying off. Firms on the list enjoy 47.1 percent higher profits per partner than the rest of the legal industry,” the report said.
Duffy commented on continuing the firm’s focus on superior client service, “There is always room for growth. Developing an even higher level of positive responsiveness through the next phase of development will mean we are light years ahead of ‘the best’ and our clients will know it and reward us – and as we know, the reward for good work is more work. This is more than simply about dollars and cents; it’s about legacy, reputation, and preservation of a culture that values quality in all areas of the client relationship, in all areas of our work life, and in what we bring to the table, collectively.”
To compile the list, BTI Consulting performs surveys throughout the year of legal decision makers at organizations with $1 billion or more in revenue. The surveys have been conducted every year since 2008.
The annual survey by the more than 600 legal decision makers found innovation has taken on increased importance in the eyes of in-house attorneys over the years.