Inside McDermott's $2.8bn merger: London managing partner Aymen Mahmoud on building a transatlantic private capital powerhouse
McDermott has just completed one of the biggest Big Law mergers in recent years, tying up with New York’s Schulte Roth & Zabel to create a $2.8 billion powerhouse sitting just outside the top 10 US firms by revenue. The deal was wrapped up in just three months - record speed by law firm standards - and is already producing results.In this episode, we sit down with Aymen Mahmoud, McDermott’s London managing partner, to get the inside view on how the merger came together, why culture was as important as strategy, and what the combined platform means for clients on both sides of the Atlantic. He explains why he calls it a “marriage of conviction” and why the firm is betting big on private capital as the driver of its next phase of growth.We also dig into the London story: how Schulte’s top-tier funds practice changes McDermott’s position in the market, the firm’s plans for a new Mayfair office in 2028, and the ambition to be on every top client’s speed dial for private capital work. Along the way, Aymen shares candid insights on talent, pay, and how McDermott is trying to do things differently - from matching New York comp in London to giving billable credit for mindfulness.Chapters00:01 Introduction01:15 The McDermott-Schulte Merger07:07 Cultural Integration and Success Metrics12:45 Strategic Growth in London18:42 Talent Acquisition and Retention24:40 Leadership and Personal Growth30:43 Future Vision for McDermottAbout 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 Hill Dickinson sponsored Everton's new stadium: Peter Jackson on bold marketing bets and lessons from 20 years at the top
Hill Dickinson made headlines earlier this year with one of the boldest law firm marketing moves in recent memory: a multi-million pound deal to put its name on Everton’s new stadium in Liverpool. In this episode, Peter Jackson - the firm’s long-time managing partner and CEO - takes us inside the decision, what it means for brand recognition, and why giving back to the city was part of the rationale.Over nearly two decades leading Hill Dickinson, Jackson steered the firm through both rapid growth and tough choices. He recalls the pivotal moment in 2016 when the insurance practice, once a cornerstone of the business, became a drag on profits - and how the bold decision to sell it to Keoghs reshaped the firm’s future. His mantra: be brave, and get your partners onside.We also explore how Jackson approached culture and values, from rejecting lucrative lateral hires that didn’t fit, to hands-on leadership built around trust and constant communication. For him, sustainable growth always came back to three basics: people, clients and cash.Finally, Jackson shares his take on the wider market: the rise of external capital in law, the challenges and opportunities it brings, and what he thinks firms often get wrong about private equity investment.Chapters 00:01 Introduction01:30 Peter’s Background and Shipping Law04:13 The World of Superyachts and Monaco Expansion06:16 Hill Dickinson in the 1980s: From Liverpool Roots to London Growth09:03 Leadership Challenges and the Keoghs Transaction12:08 Strategy, Profitability and the Post-2016 Pivot14:32 Culture and Values: Building a Cohesive Firm16:09 The Changing Role of Managing Partner19:06 Hands-On Leadership and Partner Communication21:18 Talent, Lateral Hires and Protecting Culture23:18 Defining Star Partners and Building Teams25:28 The Everton Stadium Deal: Bold Marketing in Law30:23 Brand Recognition, Recruitment and Giving Back to Liverpool35:05 External Capital in Law: Opportunities and Risks43:12 Leadership Lessons: People, Clients, CashAbout 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 reality is very different': KPMG legal chief Stuart Bedford on what people get wrong about the Big Four’s legal ambitions
What role do the Big Four really play in the legal market, and how different are they from traditional firms? In this episode, we sit down with Stuart Bedford, global head of legal at KPMG, to get a first-hand view of how one of the world’s largest professional services organisations is approaching the delivery of legal services.Stuart reflects on his own career journey, qualifying at Linklaters, building one of the City’s leading corporate practices, and eventually stepping into leadership at KPMG. He explains how his experience across multiple disciplines and jurisdictions shaped his perspective on what clients truly need from their lawyers.We dig into what sets KPMG Law apart - why they’re not chasing the mega M&A deals that grab headlines, but instead focusing on areas where law, technology, and multidisciplinary teams intersect. From entity management and post-merger integration, to regulatory compliance and legal managed services at scale, Stuart outlines a model that looks very different to Big Law.Finally, Stuart discusses KPMG’s expansion into the US via an Arizona ABS licence, the firm’s Legal Reimagined programme, and the opportunities created by technology, data and global delivery. If you’ve ever wondered how a Big Four legal arm competes without playing the traditional law firm game, this conversation offers a look inside.Chapters 00:01 Introduction01:15 Introduction & Stuart’s Early Career Path03:18 Changing Specialisation in Law Firms05:35 Why Stuart Moved to KPMG08:32 Rethinking the Big Four’s Legal Offering13:14 Post-Merger Integration & Entity Management16:38 Technology, Data & Legal Reimagined21:17 Delivering Managed Legal Services at Scale25:39 Talent, Culture & Multidisciplinary Teams29:18 Embedding Legal Within the Wider KPMG Business31:40 Have the Big Four’s Legal Dreams Materialised?33:31 US Expansion & the Arizona ABS Licence38:02 Looking Ahead: The Future of KPMG LawAbout 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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'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
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.
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