The Non-Billable Podcast

• Why private equity wants a piece of Big Law: Former A&O boss David Morley on what's really happening

  Private equity is closing in on the legal industry, and few people have a better vantage point than David Morley, former managing and senior partner at Allen & Overy. After steering A&O through the 2008 financial crisis, Morley moved into the investment world, chairing a private equity firm and heading up Europe for one of the world’s biggest pension funds. Earlier this year, he teamed up with fellow A&O alum Wim Dejonghe to launch a consultancy advising law firms and investors on the surge of capital eyeing the profession.In this episode, David explains why investor sentiment toward law firms has flipped “gradually, then suddenly.” He says private equity’s move into legal mirrors what happened in accountancy a decade ago - starting small before rapidly scaling once investors see proven success. “There’s a level of investor interest we’ve never seen before in the legal sector,” he says.We talk about what this means for firms of all sizes - from smaller players under pressure to consolidate, to elite firms exploring capital as a growth tool. Morley breaks down how deals are structured, where money would actually go, and why capital brings more than funding.He also reflects on the limits of the partnership model in funding innovation - and why looming tax and structural changes could accelerate a shift towards more corporate-style models. His message for firm leaders: whether or not you plan to take investment, you need to understand the forces driving it. Chapters00:01 Introduction01:30 Introduction to David 03:06 Navigating the Financial Crisis07:14 Lessons from Crisis Management10:07 The Rise of External Investment in Legal12:50 Changing Perceptions of Legal Investments17:00 Market Dynamics and Future Trends in Legal Investments23:23 The Competitive Landscape of Law Firms24:19 Investment Opportunities in Legal Sector25:25 The Role of Private Equity in Law Firms29:43 Innovative Business Models in Legal Services33:54 Understanding Private Equity Investments37:34 Strategic Use of Capital in Law Firms39:44 Private Equity vs. Traditional Financing42:35 Future Trends in Legal About 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 $20m law firm partner: Headhunter Siobhán Lewington on the battle for Big Law talent

  In this episode, Siobhán Lewington, partner at leading legal headhunter Macrae, joins us to unpack what’s driving the lateral partner market in London. A former Allen & Overy and Arthur Cox lawyer, Siobhán has more than two decades advising firms on partner hires and team moves giving her a unique view into how City law has changed.She explains how the market has evolved from the “gentlemen’s agreement” era - when Magic Circle firms avoided poaching from one another - to today’s fiercely competitive landscape dominated by US players. We explore why private capital remains the engine of London’s growth, and what makes a truly competitive platform: from tax and competition support to leverage finance and associate bench strength.Siobhán also breaks down the New York-London axis, the growing wave of transatlantic mergers, and how firms are positioning themselves in the race to join the global elite. She shares why money alone doesn’t move partners, the real purpose behind multi-year guarantees, and how firms can better integrate lateral hires for long-term success.Finally, Siobhán offers advice for partners weighing a move - from identifying push and pull factors to finding a genuine sponsor at any prospective firm. Packed with insight on talent strategy and firm identity, this episode is a must-listen for anyone interested in the current state of the London market.Find out more about Macrae at their website: https://www.macrae.com/Chapters00:01 Introduction01:00 Introduction to Siobhan and Macrae02:05 Transition from Law to Recruitment03:23 Evolution of the London Recruitment Market07:03 Current State of the London Private Equity Market11:00 Concentration Risks in Private Equity13:52 The Changing Landscape of Law Firms16:26 Growth Areas Beyond Private Capital19:48 Litigation Market Dynamics21:53 The New York-London Axis22:15 Mergers and the New York-London Axis28:34 The Mechanics of Partner Moves40:09 Advice for Partners Considering a Move43:28 Strategies for Firms to Attract TalentAbout 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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• Harvey: Inside the $5bn legal AI startup taking over Big Law with chief business officer John Haddock

  Harvey has become the poster child of the legal AI boom - used by over half of the top 100 US law firms and backed by more than $700 million in funding. But what does the startup actually do for lawyers day to day, and how is it turning hype into genuine impact inside Big Law firms?In this episode, John Haddock, Harvey’s chief business officer and a former Stripe exec, takes us inside the company’s rapid scale-up. He explains how a 50-person team of ex-Big Law lawyers works directly with firms to embed AI into real workflows, turning the platform into what he calls “a port of first call” for legal teams.Haddock also lifts the lid on Harvey’s Advanced Legal Researchers - a team of former Big Law lawyers who benchmark and fine-tune every new model release through what the company calls its Big Law Bench. He shares why data, not hype, is the biggest constraint in AI performance, and how Harvey’s partnership with LexisNexis is helping to close that gap.We also talk about Harvey’s recent investment from European private equity firm EQT, what the company’s expansion into Europe means for the legal market, and why Haddock saw a viral Reddit thread questioning Harvey’s adoption as a positive sign. “It’s proof we’ve crossed into the mainstream,” he says.Chapters00:01 Introduction01:00 Background on John03:30 Understanding Harvey's Product and Customer Engagement06:12 The Role of Chief Business Officer at Harvey09:02 How Harvey Empowers Lawyers12:11 Partnership with LexisNexis 17:54 Fine-Tuning AI Models for Legal 21:38 The Buy vs. Build Debate in Legal Tech24:20 EQT Investment and European Market Expansion26:37 Competition in the Legal AI Landscape28:28 Scaling Operations and Talent Acquisition31:39 Onboarding and Change Management in Legal AI32:41 Contextualising Legal AI for Enhanced Productivity36:12 The Future of Integrated Legal Workspaces38:36 The Reddit Thread and Building Trust in AI42:24 Challenges of Scaling and Hiring in a Growing CompanyAbout 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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• Lessons from a Big Law leader: Charlie Geffen on US dominance, the rise of private equity, transatlantic mergers, and why striking deals with Trump made sense for some

  Few people have had a closer view of the modern City law market than Charlie Geffen. As former senior partner at Ashurst, he helped build one of London’s top private equity practices before moving to Gibson Dunn in 2014, where he became global co-chair of private equity. Today, he splits his time between chairing the taskforce getting the UK ready for T+1 settlement of financial trades, a senior position at the University of Surrey and occasionally weighing in on the big debates shaping the profession - earlier this year, he sparked discussion with a letter to the Financial Times, defending the decision by some firms to strike deals with the Trump administration. In this conversation, Charlie looks back at four decades of transformation in Big Law - from globalisation and specialisation to the rise of US firms that now dominate the global elite. He explains why American firms’ structure, scale and domestic market have given them a lasting advantage, and why, in his words, “the global Magic Circle is entirely American.”We also discuss the major transatlantic mergers reshaping the landscape, including A&O Shearman and Herbert Smith Freehills-Kramer Levin, and what the likes of Ashurst can realistically do to compete. Charlie reflects on his own experience leading Ashurst through its growth years, its failed US merger talks, and how the firm ultimately found its footing through reinvention.Finally, he shares his take on the next phase of disruption: how AI and private equity could drive a wave of consolidation, why law firms will need far fewer people in future, and why, despite it all, he still sees enduring value in the partnership model - and in knowing exactly what your firm is, and what it isn’t trying to be.Chapters00:01 Introduction01:30 Evolution of the Legal Market06:45 Comparative Analysis of US and UK Law Firms09:44 The Rise of US Firms12:27 Current Landscape of UK Law Firms17:26 Strategic Insights for UK Firms19:45 The Rise of Private Equity22:03 Strategic Decisions in Law Firms27:23 Transatlantic Mergers and Their Implications29:45 Big Law Firms Response To Trump Executive Orders37:51 The Future of the Legal Market: AI and ConsolidationAbout 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 Hogan Lovells built a 100-person legal tech company: Sebastian Lach on what clients actually want from AI

  Hogan Lovells might not be the first name that comes up in conversations about legal AI, but maybe it should. The firm quietly spun up ELTEMATE, a 100-person legal tech subsidiary, to build tools for clients that go beyond hype and deliver real efficiency gains. At the helm is Sebastian Lach, a Hogan Lovells partner who also leads ELTEMATE.In this episode, Sebastian talks about how ELTEMATE started with just three people around a table in 2019 and has since scaled into a global team creating client-facing technology. Funded entirely in-house, it now builds everything from AI-driven investigation tools to domain-specific tools tailored to compliance and litigation.We also dig into Sebastian’s views on legal AI more broadly. He’s sceptical about so-called “Swiss Army knife” platforms and argues that the real value lies in specialist, vertical tools trained on the right data and guided by lawyers who know what good looks like. “Lawyers don’t want 60% answers”, he argues. “They want a tool that gives them the right result at the push of a button.”It’s a conversation about what happens when a Big Law firm takes tech seriously - balancing risk and innovation - and what clients are really asking for when they demand AI.Chapters00:01 Introduction00:50 Sebastian’s Background02:07 Transitioning from Law to Legal Tech04:00 Exploring White Collar Crime Law07:25 The Birth of ELTEMATE10:34 Funding and Business Model of ELTEMATE11:39 ELTEMATE's Growth and Structure13:12 ELTEMATE's Product Suite and Strategy18:23 The Importance of Domain-Specific Solutions20:48 Data as a Core Differentiator24:28 The Future of Legal Tech and Client Needs28:30 The Vision for ELTEMATE31:16 Lessons Learned in Legal Tech Innovation34:48 Concerns About AI in Legal Practice35:51 Skills for the Future Lawyer38:02 The Future of the Billable Hour About 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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