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The Art of Managing Professional Services: Insights from Leaders of the World’s Top Firms by Maureen Broderick

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8. Partnership

Equity, selection, and compensation

“There has to be a lot more than money to hold a group of very smart, type-A partners together.”

—Evan Chesler, Presiding Partner, Cravath, Swaine & Moore

“The real challenge is how do you create that collegial, collaborative partnership culture within the context of being a performance-based, performance-driven organization?”

—Paul Laudicina, Chairman, Managing Officer, A.T. Kearney

“I think the key to success is to keep the partners excited about their practice and excited about the firm.”

—Eric Friedman, Executive Partner, Skadden, Arps

The term partnership has a very special meaning in professional services. Much more than a type of ownership structure, the concept of partnership ...

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