Regulation firms ‘cannot extensive endure a remote work model,’ states Morgan Stanley chief lawful officer
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Morgan Stanley’s chief lawful officer, Eric Grossman, has reportedly warned the investment bank’s outside the house regulation corporations that their attorneys ought to return to the office to stay clear of a decline in customer provider.
Bloomberg Law and Regulation.com are reporting on Grossman’s letter, which tells of his “grave issue that our profession are not able to very long endure a distant get the job done design.”
Law.com acquired a duplicate of the letter, sent to legislation firms Thursday, whilst Bloomberg Law gained confirmation that the letter inspired a return to the business office. In addition, Richard Rosenbaum, Greenberg Traurig govt chairman, confirmed to Bloomberg Regulation that it was just one of the law corporations that been given the letter.
The letter mentioned do the job at the office environment will help build affiliate abilities, according to Regulation.com.
“Individual lawyers master and complete best, and collectively supply the finest results, when they are with each other,” Grossman stated.
“We choose to seek the services of you all since of the top quality of your legal professionals and the product or service they supply,” Grossman wrote. “I strongly feel that companies that return to the business will have a substantial effectiveness edge more than these that do not, and we will see that gain reflected in their customer service and the potential to produce effective results for Morgan Stanley.”
Grossman mentioned Morgan Stanley would not, as a general rule, accommodate Zoom participation in critical do the job conferences.
Grossman didn’t remark when contacted by Bloomberg Law. A Morgan Stanley spokesperson also declined to remark when contacted by Regulation.com. A spokesperson contacted by the ABA Journal forwarded a request for comment to other media relations staff, who didn’t right away reply.
Jeffrey Lowe, world wide practice leader of the legislation company observe at authorized consulting firm Main, Lindsey & Africa, instructed Law.com in a separate story that regulation corporations are caught in between the wishes of customers these kinds of as Morgan Stanley and that of their individual lawyers. He observed that legal professionals have additional leverage as law firms “literally can’t locate ample individuals to get all the get the job done completed.”
Return-to-perform insurance policies at dozens of legislation companies have incorporated some versatility for distant do the job. Numerous procedures involve attorneys to show up in the business at the very least three days per 7 days, in accordance to Law.com.