Legal Mosaic Essays on Legal Delivery

<strong>Legal</strong> <strong>Mosaic</strong>: <strong>Essays</strong> on <strong>Legal</strong> Delivery
By Stealth or By Storm?
The BigFour and the <strong>Legal</strong> Market
It does not take Perry Mason to crack the case that the Big Four intend
to be major players in the global legal market. Steve Varley, Ernst &
Young’s managing partner in the UK and Ireland made that clear: “We
aren’t competing with the business models of traditional law firms, we
are offering something new. Having lawyers, accountants, and other
professional advisers working side by side will be a real advantage to
our clients and ultimately help us to provide a better level of service.”
Sounds like E&Y is unabashedly serving notice on the embattled traditional
law firm model that they see an opportunity and are poised to
pounce on it. And these are not hollow words, either.
What’s the Secret? The Big Four Knows its Advantage
Ernst & Young has made a number of recent moves around the globe
that demonstrate its intent to take a big bite out of BigLaw’s hegemony
over legal spend. Consider the ABS license that E&Y—along with two
of the three other members of the BigFour—has recently secured in the
UK. Not only will that enable their legal team to engage in the type of
multi-disciplinary practice that Mr. Varley described above, but it will
also be a springboard for E&Y’s legal troops to enter new markets.
That ease of entry and ability to navigate regulatory roadblocks will be
enhanced by the Swiss verein structure E&Y has, something shared by
each member of the Big Four. But there’s more. E&Y and its BigFour
brethren share several advantages over law firms: (1) a global imprint
and brand; (2) sophisticated technology; (3) deep proficiency in project,
process, and price management; (4) strong client ties to the C-suites
of Global 500 companies; (5) large legal practice groups that already
engage in sophisticated legal work (though commonly in the guise of
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