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<i>Professional Development</i><br>Survey: Today's Am Law Chief Marketing Officer
An increasing number of law firms have become complex global organizations. They have grown both internally and by acquisition, mirroring the combinations so frequent in American business. Clients have changed, too, and can no longer be counted on to remain with a law firm for generations, to be passed on from senior to junior partners. So, marketing which was considered undignified and proscribed by rules of professional conduct, has gone from the activity no one wanted — or thought they needed — to a vital must-have function.
Key Research
Our research at The Alexander Group found that about 25% of Am Law 100 firms have hired their CMOs from outside the legal industry. Recent external hires include marketing executives from PwC, Thomson Reuters, and Alvarez & Marshal, to name a few. The incorporation of business development into the purview of CMO responsibilities is reflected in new titles including Chief Business Officer, Chief Strategy Officer and Chief Client Services Officer. Of the 40 Am Law firms that have hired or promoted a new CMO in the last three years, 15 have “business development” included in the title, as do 35 of the Am Law 100 overall.
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