'Some firms won't survive': Simmons senior partner Julian Taylor on the legal AI reckoning, NQ pay wars and the US firm challenge
Julian Taylor is senior partner at Simmons & Simmons and one of the City’s most highly regarded employment lawyers. He’s spent over 25 years at the firm and has had a front-row seat to the transformation of the legal profession. In this episode, he shares candid views on the forces reshaping the industry, from the rise of AI to the battle for the best talent.Julian explains how Simmons is embedding AI into its work - from in-house tools like “Percy” to partnerships with legal tech providers - and why firms that fail to adapt could struggle to survive. He also talks about how AI is changing pricing models, client expectations, and the types of work law firms can take on.Julian calls newly qualified lawyer pay in some parts of the market “crazy”, warns about the talent market distortions it creates, and explains why Simmons takes a different approach to competing for junior lawyers. He also reflects on the impact of US firms in London and how their intense profitability targets are reshaping the market.We finish with a discussion on culture and flexibility - including the unique part-time arrangement Julian has maintained for nearly two decades - and why he believes adaptability and openness to change are now non-negotiable for any lawyer building a long-term career.Chapters 00:01 Introduction01:15 Julian’s Background and Career03:21 Simmons' Financial Performance and Sector Focus06:33 The Role of AI in Law11:15 Pricing and Client Expectations in the Age of AI15:10 Building vs. Buying Legal Tech Solutions19:13 The Future of AI in the Legal Profession24:58 Training the Next Generation of Lawyers28:37 Attracting and Retaining Talent in a Changing Landscape32:39 Flexible Work Arrangements and Work-Life Balance37:45 ‘Crazy’ NQ Pay And The Impact of US Firms on the Legal Market43:05 Looking Ahead: Goals for the FutureAbout Non-BillableNon-Billable is the media company for modern legal professionals across private practice, in-house and legal tech.Visit our website: https://www.nonbillable.co.uk
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Why investors are eyeing law firms: Burford Capital’s Travis Lenkner on how external capital is changing the market and why Burford prefers minority stakes
Private equity and other forms of external capital are moving into the legal sector - a shift that is very likely to reshape law firm strategy. In this episode, we speak with Travis Lenkner, chief development officer at Burford Capital, the world’s largest provider of legal finance, about why investors are increasingly eyeing law firms and what that means for the market.Travis shares his unique perspective, having worked as a litigator at Gibson Dunn, served as senior counsel at Boeing, co-founded litigation funder Gerchen Keller Capital (later acquired by Burford), and launched his own law firm before rejoining Burford in 2024. Now focused on exploring potential equity investments in law firms, Travis explains the forces driving investor interest - from the UK’s long-standing ABS regime to growing recognition of law as a professional services market ripe for consolidation and technology-led transformation.We discuss the different ends of the market attracting attention, from private equity-backed regional roll-ups to strategic growth capital for top-tier global firms. Travis explains why Burford prefers minority stakes, the kinds of structures that make sense for law firms wary of losing control, and how outside capital can fund strategic hires, technology investment and geographic expansion. He also tackles the challenges of the traditional partnership model and the cultural shifts required to align incentives with long-term growth.Finally, Travis offers insights on the evolving US market - where regulatory constraints mean law firm investment often looks different - and why he expects both markets to develop rapidly in the next five years. Chapters 00:45 Introduction to Travis And Career Journey02:31 Understanding Burford Capital's Role in Legal Finance04:50 The Financial Model Behind Litigation Funding05:46 The Rise of External Capital in Law Firms06:12 Investment Strategies for Law Firms09:13 The Future of Law Firms in a Competitive Market13:46 The Evolving Landscape of Law Firm Investments17:28 Navigating Risks in Law Firm Dynamics19:20 Understanding Investor Exit Strategies24:14 Burford's Unique Position in Legal Investments25:26 Targeting Growth in Boutique Law Firms29:35 The Future of the US Legal Market34:24 Burford's Portfolio in Five YearsAbout Non-BillableNon-Billable is the media company for modern legal professionals across private practice, in-house and legal tech.Visit our website: https://www.nonbillable.co.uk
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The $100m legal AI startup transforming in-house teams: Wordsmith CEO Ross McNairn on turning legal into a revenue driver
Ross McNairn is the founder and CEO of Wordsmith, one of the fastest-growing legal AI startups in Europe. In this episode, Ross shares how Wordsmith is rethinking the in-house legal function - not just with automation, but with a new model for how legal teams can triage and respond to the rest of the business using AI agents.We talk through the challenges of in-house legal teams, why Wordsmith is laser-focused on corporate legal rather than law firms, and how AI assistants are shifting legal from being perceived as a blocker to a true business enabler. Ross also explains how their customers - including companies like Trustpilot - are using the platform to improve responsiveness and efficiency across functions.Ross opens up about raising $25 million from Index Ventures, how Wordsmith became the fastest Scottish company to hit a $100 million valuation, and why they’ve been disciplined about staying lean, product-led, and focused on usage over hype. He also shares his thoughts on legal AI funding trends, the law firm vs in-house tech split, and the future of generalist vs vertical solutions in the space.Whether you’re a GC thinking about legal AI adoption, a lawyer eyeing a career move into tech, or just curious about how legal is changing from the inside, this is a conversation with a founder building at the forefront of the industry.Chapters 00:45 From Law to Software00:53 The Role of AI in Legal Workflows02:11 Introducing Wordsmith05:08 AI Agents: Enhancing Legal Productivity08:08 Customer Success Stories: Real-World Impact of Wordsmith10:57 Sales Strategy: Building Trust in Legal Tech13:55 Funding and Future Plans: Scaling Wordsmith16:30 Building a Lean Company17:27 Hiring for Legal Intelligence19:06 Motivations For People Joining Wordsmith20:50 Competitors in the Legal Tech Space21:17 Wordsmith's Suite of Tools22:16 Future of Legal Tech Solutions23:38 Impact of Recent Partnerships in Legal Tech26:02 Data Needs for In-House Legal Teams28:00 Investment Boom in Legal Tech29:27 Wordsmith's Strategy for Success32:31 Trends in Legal Tech33:25 Hiring Challenges at Wordsmith34:01 Vision for Wordsmith in 2030About Non-BillableNon-Billable is the media company for modern legal professionals across private practice, in-house and legal tech.Visit our website: https://www.nonbillable.co.uk
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Private equity is circling the legal industry: Rosenblatt rescue dealmaker Adil Taha on law firm deals, PE strategy and the exit problem
In this episode, we’re joined by Adil Taha, a former investment banker, private equity executive and one of the most experienced PE figures operating in the UK legal sector today. Adil has led or been involved in multiple private equity transactions across professional services, including the turnaround of several law firms and the recent high-profile rescue of Rosenblatt out of failing listed group RBG Holdings.We dive into the mechanics of private equity in law - how deals are structured, what PE firms are really looking for, and why so many are focused on buy-and-build strategies in the regional market. Adil gives a candid assessment of what’s working, what isn’t, and why we’ve yet to see a successful PE exit in UK legal.He also unpacks the challenges of law firm listings, the hidden risks of the full-service model, and why relationship-driven businesses don’t always fit neatly into financial engineering. Finally, we talk about the opportunity Adil sees at the top end of the market: building a lean, high-performance boutique from scratch. For investors, firm leaders, and ambitious lawyers alike, this is an inside look at how private capital is reshaping the business of law.Chapters00:45 Adil’s Background and First Law Firm Rescue02:15 The Rosenblatt Rescue03:51 The Rise of PE in Legal Post-COVID06:27 Where PE is Investing Today09:09 Exit Challenges and Lack of Trade Sales11:45 Why Law Firm IPOs Don’t Work14:39 The Culture Clash Between Law and Public Markets16:08 Trade Sales vs PE: Who’s Buying?19:03 Why MBOs May Be the Only Exit Path21:21 Could PE Ever Buy a Top 30 Firm?23:09 Lessons from DWF and Who’s Vulnerable25:39 Exit Options for Larger Firms27:39 How PE Transactions Work in Practice30:39 How Deals Are Structured: Day One, Rollovers, Earn-Outs34:45 The Case for Building a Super Boutique from Scratch37:57 The Super Boutique Vision and TimingAbout Non-BillableNon-Billable is the media company for modern legal professionals across private practice, in-house and legal tech.Visit our website: https://www.nonbillable.co.uk
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How top firms compete for talent: City headhunter Ed Parker on the high-stakes game of elite lateral partner hiring
In this episode, we’re joined by Ed Parker, managing director at Fides Search and one of the most trusted headhunters in the City legal market. With nearly two decades of experience advising on partner and team moves, Ed brings a nuanced, data-driven perspective on how top firms are growing, and what that means for lawyers navigating their careers.We explore the structural shifts happening across the partner talent market, from the aggressive expansion of US firms in London to the growing importance of team moves and due diligence in lateral hiring. Ed explains why some firms are placing massive bets on high-performing partners, how they price those hires, and what really determines whether a client book will travel.For ambitious associates, this episode is packed with insight. Ed shares honest advice on timing your move, the risks of chasing quick promotions, and how to position yourself for long-term success - whether that’s through internal promotion or switching platforms. He also unpacks the rise of non-equity partnerships and what clients really care about when it comes to partner titles.Finally, we touch on where the market is headed in the second half the year, from fast-moving jurisdictions like Saudi and Luxembourg to the enduring pull of London as a legal hub. If you're interested in the economics, strategy, and personal dynamics behind law firm hiring, this is one not to miss.Chapters00:45 Introduction & About Fides Search03:45 What Headhunting Actually Involves07:15 Building a Practice from Scratch10:15 The State of the Partner Market in 202514:15 UK Firms: Adapting or Falling Behind?17:30 Team Moves vs. Individual Lateral Hires21:15 The Economics of Big Hires25:45 Is This an Existential Threat to UK Firms?30:15 The Rise of Non-Equity Partners35:15 Advice for Ambitious Associates43:45 Market Outlook for H2 202547:45 Connect with Ed & Fides SearchAbout Non-BillableNon-Billable is the media company for modern legal professionals across private practice, in-house and legal tech.Visit our website: https://www.nonbillable.co.uk
The Non-Billable Podcast takes UK legal professionals beyond the billable hour, bringing you interviews with top lawyers, law firm leaders, industry experts and legal tech innovators to uncover actionable insights on the business of law, career growth and the future of the industry.
Hosted by Oliver Attinger, a former finance lawyer at a leading City law firm with in-house experience at an investment bank - now asking the questions he wished he had when he was practising.
Brought to you by Non-Billable, the go-to newsletter for City lawyers, in-house counsel, and legal professionals.
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