Shifting Trends in Corporate Legal Hiring
A Growing Preference for Law Firm Talent
Mumbai: As regulatory pressures and business risks become increasingly complex, India Inc is adapting its approach to legal hiring. Companies are now favoring the recruitment of senior lawyers from top law firms to lead in-house legal teams. This trend reflects a significant shift in corporate priorities, emphasizing the demand for leaders who possess not only legal expertise but also strong capabilities in strategy, risk management, and business operations.
Law Firms as Prime Talent Pools
Organizations are increasingly looking to law firms as prime talent pools, opting to hire lawyers from these firms over industry peers. This strategy aims to bolster internal legal capabilities and bring in leaders with proven backgrounds.
Expert Insights on the Hiring Trend
“For leadership roles, tier-1 law firm experience is often viewed as a strong marker of technical depth, rigour, and pedigree,” stated Karl Fernandes, senior partner and head of corporate practice group at Vahura, an executive search and consulting firm. He confirmed an uptick in demand from companies seeking such profiles.
Preferred Firms for Recruitment
Many Indian corporations and multinational companies (MNCs) are actively seeking partners or senior counsel from prominent law firms such as AZB & Partners, Khaitan & Co, Trilegal, SAM & Co (Shardul Amarchand Mangaldas), and CAM (Cyril Amarchand Mangaldas).
Recent High-Profile Appointments
Recent appointments highlight this trend. Notably, Vishwanath Pratap Singh joined Bharti Enterprises last month as head of corporate legal from CAM.
February Appointments
In February, ArcelorMittal India appointed Heena Singh to lead its legal team, transitioning from TT&A. In January, Anjali Menon Malhotra, a former partner at SAM & Co, became head of legal at UPL Speciality Chemicals. The same month, Sabrina Afroze from Luthra & Luthra was appointed general counsel-India at BrightNight.
The Emerging Focus Areas
Shama Gupta, executive director at global executive search and advisory firm Russell Reynolds Associates, noted that while legal and regulatory acumen are essential, companies increasingly prioritize general counsel with expertise in emerging fields like intellectual property, data, artificial intelligence, and ESG (environmental, social, and governance) considerations.
Shifting Legal Leadership Structures
Gupta further elaborated, stating, “Many companies are realizing that their legal leadership structures are no longer built for long-term resilience. Historically, general counsels were promoted internally based on tenure and legal excellence. Now, organizations are casting a wider net, focusing on leadership capabilities and cross-functional expertise over pure legal background.”
Recent High-Profile Appointments in 2022
Last year, JSW appointed Ananya Sharma as group general counsel, while Tata Sons brought onboard Siddharth Paranjpe as senior legal counsel, both previously partners at AZB & Partners.
Hiring Trends in Middle Management
“Experience in law firms has become a prerequisite in at least 15-20% of hiring, specifically for middle management,” stated Ritambara Vasudeva, regional director at executive search firm Michael Page. This requirement is particularly pronounced for MNCs and sectors with niche practice areas at law firms, such as projects, real estate, banking, and TMT (telecom, media, and technology).
Competitive Salary Packages
Such roles come with hefty salary packages, with base compensation ranging from ₹1.2 crore to over ₹3 crore, depending on the size and complexity of the company. Executive search professionals have noted a paradigm shift in how CEOs and boards approach hiring legal heads.
Legal Departments as Strategic Assets
“Our interactions with CEOs and boards suggest that legal departments are increasingly seen as strategic assets and business partners, a change driven from the top down,” commented Shivani Desai, chief executive officer at BDO Executive Search Services.
Conclusion
The trend of hiring senior lawyers from prestigious law firms signals a transformation in how companies view legal leadership. As businesses navigate the complexities of modern regulatory landscapes, having leaders with a robust blend of legal, strategic, and operational expertise will be crucial for sustainable success.
FAQs
- What is driving the trend of hiring lawyers from top law firms?
Complex regulatory pressures and a need for skilled leadership in business operations are primary drivers. - Which law firms are most sought after for recruitment?
Some of the top firms include AZB & Partners, Khaitan & Co, Trilegal, SAM & Co, and CAM. - What kind of expertise are companies looking for in general counsels?
In addition to traditional legal and regulatory knowledge, companies now prioritize expertise in areas like intellectual property and data management. - What salary range can one expect for legal leadership roles?
Base compensation for such positions can range from ₹1.2 crore to over ₹3 crore. - How are legal departments viewed in the modern corporate landscape?
They are increasingly considered strategic assets and essential business partners rather than just legal service providers.
