Gerstenzang's ambitious goal is to land Cleary among the Top 20 firms by gross revenue, a feat that would require a leap of roughly $500 million from last year. That would mean a 36% gain from last year, when Cleary ranked No. 30 among US firms in gross revenue.
Cleary decided its 'culture' wasn't prepared to be as 'disciplined or ruthless' to manage out non-performing income partners, he said. It also had concerns a large non-equity tier could deteriorate its reputation for consistent, high quality work across its practices.
Tabling the non-equity partner issue, for the time being, it looks like the model Gerstenzang wants to focus on moving toward is value-based billing over the billable hour, and he wants to use artificial intelligence to optimize efficiency.
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