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Stephen Denyer: How to avoid being a ‘dangerous’ managing partner

Managing partners who get 'carried away with growth' may be leading their firms into danger, Stephen Denyer warns Manju Manglani

11 December 2014

Managing partners need to be entrepreneurial and ambitious, but they should not allow those instincts to put their firms in a dangerous financial position.

That's the view of Stephen Denyer, head of City and international at the Law Society of England & Wales. Formerly global markets partner at Allen & Overy, he takes on the additional role of secretary-treasurer of the International Bar Association's professional and public interest section from 1 January 2015.

Denyer believes that many law firms have failed or been acquired in recent years because they had overambitious managing partners.

"If you're a successful law firm leader in certain kinds of firms, I think you can get carried away with growth and development, and that can be quite dangerous," he says.

"Financial prudence is something that even the most entrepreneurial law firm leader needs to have."

He continues: "In your...

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