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Axiom Marks First Full Year of Innovative Law Firm Practice, Now Offers Industry’s Broadest Array of Law Firm Services and Solutions
From secondments to full-service legal support across 12 practice areas, Axiom now serves more than 60% of the Fortune 100 with 95% client satisfaction
NEW YORK, Jan. 23, 2024 /PRNewswire/ — One year ago today, Axiom launched Axiom Advice & Counsel (AA&C), a modern law firm that leverages Axiom’s highly qualified, on-demand attorneys across 12 practice areas—all at a fraction of the rates charged by national law firms. The creation of AA&C, an Arizona law firm, extends Axiom’s 23-year history of legal services innovation, creating a new type of firm that can work with Axiom’s thousands of lawyers—many of whom are Am Law 100 alumni—and all who are unencumbered by billable hours requirements and the traditional partner pyramid.
AA&C has seen steady momentum during the past 12 months, hiring four partners and four additional team members. The firm has been engaged by clients of all types—from Fortune 50 enterprises to growing startups, for a wide range of use cases and matters ranging from interim general counsel services to privacy, litigation, M&A, and more. AA&C is a prime example of the impact Arizona’s pioneering Supreme Court decision1 is having on enabling alternative business structured (ABS) law firms.
“Axiom offers exactly the new paradigm the industry needs,” said James Turoff, Senior Vice President, General Counsel, and Secretary of The Hershey Company. “We greatly value the relationships we have with our traditional outside counsel, and they will always play a key role in our legal strategy, but Axiom’s innovative model—focused on value and flexible service delivery—is ideal for our everyday legal needs. With Axiom’s addition of AA&C to its portfolio, there’s now a single vendor who can provide the full spectrum of services that in-house legal departments need today: partner-level expertise at favorable rates, plus access to an ecosystem of thousands of vetted legal professionals.”
Axiom now provides the industry with the broadest range of high-quality legal talent across a spectrum of In-House Solutions and Law Firm Services, all of which help companies better manage their risk and the variability of work requirements to increase capacity and optimize their budgets:
In-House Solutions, Delivered by Axiom
- Top-quality talent drawn from Axiom’s global network of legal professionals with in-house and Am Law 200 experience. Only 3% (3 out of 100) of attorneys who apply are accepted through Axiom’s rigorous vetting process.
- Secondments to fill strategic, temporary talent needs, with talent available on full or part-time basis.
- Specialized advice from experienced, world-class lawyers who average 18 years of post-qualified experience (PQE). Clients can send work as needed and get on-demand availability of legal talent.
- Large projects that require teams of lawyers and coordination by an experienced leader.
Law Firm Services, Delivered by Axiom Advice & Counsel
- A law firm built to fit today’s in-house budgets, with rates 25% lower than national law firms, extending Axiom’s decades-long focus on unbeatable client value.
- Partner relationships with oversight and accountability.
- Managed teams providing quality outcomes, delivery management, and enhanced reporting.
- Scalability and affordability working with Axiom’s network of experienced lawyers, including many in-house counsel and Am Law 100 alumni.
- Fractional or full-time General Counsel services.
- Support across 12 practice areas, including litigation.
With more than 1,500 clients across North America, Europe, and Asia, Axiom today serves over 60% of the Fortune 100 with 95% client satisfaction. In fact, 90% of clients surveyed say Axiom lawyers are as good or better than their law firm lawyers.
“Our accelerating momentum is driven by our clients’ need for a new, value-based delivery model from their law firms and legal service providers,” said Catherine Kemnitz, Chief Strategy and Development Officer at Axiom. “It’s clear that clients are in pain. Big law rates keep going up, in-house budgets keep going down. Companies recognize that the old model, which focused on profits per partner supported by ever-increasing rates, is out of step with today’s business realities. Our clients need an agile legal services partner who can help them manage their risk and legal matters in a far more cost-effective way, and that’s exactly what we’ve built Axiom to do.”
Indeed, despite relatively flat demand, Big Law continues to drive sharp hikes in billing rates, according to analysts at Wells Fargo’s Legal Specialty Group. Law firm rates rose, on average, by 7.9% by the third quarter of 2023, the highest percentage rate uptick since the Great Recession 15 years ago.2 Meanwhile, workloads and regulatory complexity for enterprise, mid-sized, and small business in-house legal teams continued to rise while budgets shrank. Legal departments are under immense pressure to do more with less, with 70% reporting higher matter volumes, and 66% reporting their budgets are flat or declining.3
“You no longer have to do more with less,” said Kimberly Burke, General Counsel of Cerapedics Inc. “Companies today need to do more for less, and Axiom is heeding that call. They’ve become a true extension of our in-house team. They offer outstanding, experienced in-house attorneys who are skilled in the practice areas we need and able to speak the language of our business, and they’re far more cost-effective than the traditional big law firm. With their help, we’ve been able to undertake a large volume of strategic projects while meeting our budget goals this year.”
Today’s Axiom provides a simple, technology-enabled, AI-enhanced process to help companies of all sizes—with or without in-house counsel—quickly find the most efficient and effective way to meet their immediate or long-term legal needs.
“Axiom is uniquely positioned to help legal organizations thrive,” said David McVeigh, CEO of Axiom. “Our north star has always been to drive disruptive innovation, improve access to quality counsel, and spur value realization in law. Today, with the largest and most comprehensive portfolio of solutions and services in the market, we’re doing just that. We’re giving business and legal leaders a full array of in-house solutions and the industry’s first and only on-demand law firm that puts their business and budget first. We’ll continue to invest in the technologies, solutions and services, and quality talent that our clients need, as the industry continues to evolve.”
About Axiom Advice & Counsel
Located in Arizona, Axiom Advice & Counsel (AA&C) is setting a new standard for the modern law firm. From prioritizing clients and the lawyer experience, to finding the right legal talent for the right legal matter, AA&C’s approach to the law firm model provides clients with better value for every dollar spent on outside counsel. AA&C represents a diverse set of clients, ranging from growing mid-market businesses to global multinationals with large in-house teams. The firm focuses on corporate law including general counsel services, real estate, labor and employment, mergers and acquisitions, data privacy, intellectual property, and regulatory matters. For more information, please visit https://www.axiomadviceandcounsel.com.
About Axiom
Axiom is where high-caliber legal talent meets full-service law firm work. We invented the alternative legal services industry 23 years ago and now serve more than 1,500 legal departments globally, including 60% of the Fortune 100, with 95% client satisfaction. Axiom gives small, mid-market, and enterprise clients a single trusted provider who can deliver a full spectrum of legal solutions and services across more than a dozen practice areas and all major industries at rates up to 50% less than national law firms. To learn how Axiom can help your legal departments do more for less, visit www.axiomlaw.com
1 https://www.natlawreview.com/article/arizona-s-new-alternative-business-structures-law-alive-and-kickin
2 https://www.law.com/americanlawyer/2023/11/16/billing-rates-accelerated-again-big-law-will-likely-keep-foot-on-the-pedal
3 https://generalcounselnews.com/legal-departments-see-higher-matter-volumes-but-flat-or-declining-budgets-thomson-reuters-2023-legal-department-operations-index
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DEMONSTRATES TTI’S COMMITMENT TO SUSTAINABLE PRODUCTS AND PRACTICES
FORT LAUDERDALE, Fla., Dec. 23, 2024 /PRNewswire/ — Global cordless power tool, outdoor power equipment and floorcare company Techtronic Industries Co. Ltd. (“TTI” or the “Company”) (stock code: HK:0669, ADR symbol: TTNDY) today announced that it has joined the United Nations Global Compact, reaffirming its dedication to sustainability and social responsibility. With over 25,000 signatories in over 160 countries, the UN Global Compact is the world’s largest voluntary corporate sustainability reporting initiative. By joining, TTI is committing to communicating its progress to stakeholders annually through our ESG Report and UN Global Compact’s website.
TTI’s CEO Steve Richman remarked: “As the industry pioneer in lithium-ion battery-powered, energy efficient power tools and outdoor power equipment, TTI’s commitment to sustainable products and business practices has long been a fundamental part of the way we do business. We began publishing ESG reports in 2015 and we aligned our goals and targets with the UN Sustainable Development Goals in 2018. Every year we make progress in areas including safety solutions, noise reduction, supply chain traceability, decarbonization, and governance. While we have demonstrated our commitment, by joining the UN Global Compact, we have officially aligned our sustainability strategy with the Ten Principles in the areas of human rights, labor, environment, and anti-corruption.”
As part of TTI’s ongoing sustainability efforts, our objective is to implement initiatives that deepen our support of the UN’s Sustainable Development Goals (SDGs) while fostering an inclusive and equitable workplace culture. We are dedicated to advancing our sustainability journey, setting measurable goals, and continuously monitoring our progress.
Learn more about TTI’s efforts by reading our latest ESG publications here. Our 2024 ESG report will be published in March 2025.
About TTI
Techtronic Industries Company Limited (“TTI” or the “Company”), founded in 1985 by German entrepreneur Horst Julius Pudwill, is a world leader in cordless technology. As a pioneer in Power Tools, Outdoor Power Equipment, Floorcare and Cleaning Products, TTI serves professional, industrial, Do It Yourself (DIY), and consumer markets worldwide. With more than 50,000 employees globally, the company’s relentless focus on innovation and strategic growth has established its leading position in the industries it serves.
MILWAUKEE is at the forefront of TTI’s professional tool portfolio. With global research and development headquartered in Brookfield, Wisconsin, the historic MILWAUKEE brand is renowned for driving innovation, safety, and jobsite productivity worldwide. The RYOBI brand, headquartered in Greenville, South Carolina, remains the top choice for DIYers and continues to set the standard in DIY tool innovation. TTI’s diverse brand portfolio also includes trusted brands like AEG, EMPIRE, HOMELITE, and leading floorcare names HOOVER, ORECK, VAX, and DIRT DEVIL (based in Charlotte, North Carolina).
TTI’s international recognition and renowned brand portfolio are supported by a strong ownership structure that underscores the company’s global reach and stability. The Pudwill family remains the company’s largest shareholder, with the remaining ownership held largely by institutional investors at North American and European-owned firms. TTI is publicly traded on the Hong Kong Stock Exchange and is a constituent stock of the Hang Seng Index, operating globally with a strong commitment to environmental, social, and corporate governance standards. For more information, visit www.ttigroup.com.
All trademarks listed other than AEG and RYOBI are owned by the Company. AEG is a registered trademark of AB Electrolux (publ.) and is used under license. RYOBI is a registered trademark of Ryobi Limited and is used under license.
View original content:https://www.prnewswire.co.uk/news-releases/techtronic-industries-joins-the-un-global-compact-302338248.html
LONDON, Dec. 23, 2024 /PRNewswire/ — ATFX Connect, the institutional arm of global trading platform ATFX, has been honored with the prestigious “Outstanding FX Liquidity Provider” award at the FinanceFeeds Awards 2024. This recognition underscores ATFX Connect’s industry-leading position in providing deep and reliable foreign exchange (FX) liquidity, a critical factor for institutional clients navigating global financial markets.
The FinanceFeeds Awards celebrate excellence and innovation in the financial sector, highlighting organizations that deliver exceptional services and groundbreaking solutions. ATFX Connect’s achievement in this category reflects its commitment to addressing the sophisticated needs of institutional clients, including hedge funds, asset managers, private banks, and brokers. The award recognizes the platform’s ability to offer tailored liquidity solutions, cutting-edge technology, and efficient trade execution.
Launched in 2019, ATFX Connect was designed to expand ATFX’s presence in the institutional space by offering a multi-access platform for professional investors. Its focus on technology-driven solutions has made it a trusted partner for clients requiring scalable and adaptable liquidity services. Over the years, ATFX Connect has consistently demonstrated excellence in integrating innovative tools with high-quality liquidity provision, helping clients optimize trading strategies in complex market environments.
This accolade solidifies ATFX Connect’s position as a top-tier liquidity provider in the financial industry. With its ongoing efforts to blend technology with personalized services, the platform continues to set new standards in the institutional trading sector.
About ATFX Connect
Back in 2019, ATFX stepped into the Institutional arena with the launch of its Multi-Access platform ATFX Connect. The management’s vision was to expand the broker’s global presence and continue to provide award-winning liquidity and customer service to clients within the Institutional community. With the focus on the professional Investor, the ATFX Connect platform is designed to provide an efficient automated trading venue that delivers tailored liquidity solutions to Hedge Funds, Asset Managers, Brokers, Private Banks, and other financial institutions. (ATFX Connect Website: https://www.atfxconnect.com)
View original content:https://www.prnewswire.co.uk/news-releases/atfx-connect-won-outstanding-fx-liquidity-provider-award-at-financefeeds-2024-302338243.html
- Work is more important to professionals in ‘Global South’ countries than it is to their peers in Western countries.
- They also place more value on working longer hours, with a significant percentage of professionals in China and India willing to work more than 40 hours a week.
- Westerners lack leadership ambition – only 42% of respondents express a desire to lead or establish a business. In the Global South 65% hold this aspiration.
- Global executive search & leadership advisory firm Amrop surveyed 8,000 people in Brazil, China, France, Germany, India, Poland, the UK, and US on the meaning of work.
BRUSSELS, Dec. 23, 2024 /PRNewswire/ — Professionals in Western countries are less ambitious and less interested in work than their ‘Global South’ peers, a new global study by Amrop, a leading global executive search and leadership consulting firm, reveals.
“The drive and ambition in India, Brazil, and China highlight a contrast with the aging societies in the West. As Western nations also face a scarcity of qualified professionals, the ambition of their workforce becomes a decisive factor for growth, economic success, and wealth preservation,” states Annika Farin, Global Chair at Amrop. “Stakeholders should encourage entrepreneurship and foster interest in both professional and personal growth in workers.”
Notably, 92% of Indians and 87% of Brazilians say they enjoy working, while the sentiment is lower in Germany (71%), the US (69%), and the UK (68%), as well as other European countries. Significant variations emerge in how respondents prioritize their careers: 84% in India assert that a successful career is crucial for a good life, with high agreement also in China (71%) and Brazil (70%). Conversely, only 43% in Germany, 40% in France and 37% in Poland share this perspective. In other Western countries such as the US and UK, over half of respondents consider their careers vital for a good life.
India Leads with Impressive Work Ethic and Work-Life Balance
However, divergent work ethics surfaced among Western countries as well, with 70% in the US prioritizing hard work, contrasting starkly with the 35% in France who share the same belief. In this context, India leads at 75%, surpassing Brazil (55%) and China (63%). Chinese professionals also lean more towards career over private life. Work hours reveal distinctions: 46% in China and 42% in India are willing to work over 40 hours, while 29% in the UK, 27% in Germany and only 16% in France, are open to longer working hours. At the same time 73% in India and 59% in China assert that they have a healthy work-life balance, contrasting with 45% in France and 49% in Germany.
“This observation is intriguing. Working fewer hours doesn’t necessarily improve one’s perception of work-life balance. If any connection exists, it appears to be the other way around – professionals willing to work longer hours also seem to have a greater sense of work-life balance. In Europe, especially, we need follow-up studies to find out where these sentiments are coming from, so we know how to reignite the passion for work,” says Farin.
The Lack of Leadership Ambition Extends to Politics
Further results from the survey show that the Global South countries demonstrate a higher aspiration for leadership roles and entrepreneurial ventures. Notably, 76% in India express a desire to run or manage a company, followed by 66% in Brazil and 54% in China. In contrast, the UK (52%), the US (49%), France (37%), and Germany (36%) trail in these aspirations. The global lack of leadership ambition extends to politics, with respondents deeming it the least desirable career across most countries. Only 19% express a motivation to make a positive impact, with 51% prioritizing financial stability and 39% aiming for a specific lifestyle.
Looking at these results, Farin emphasizes a further concern, “In surveying individuals with at least a bachelor’s degree across various countries, our results prompt a crucial question: If most professionals lack ambition for high-level leadership, who will shape the future of economies and societies? Our societies rely on people, their expertise, and motivation. Are we approaching a future where we question not only corporate leadership but also national leadership?”
About the Survey
An online survey was conducted and gathered insights from 8,000 participants, with 1,000 respondents from each of the following countries: Brazil, China, France, Germany, India, Poland, the US, and the UK.
The survey aimed for representativeness across these diverse nations, capturing perspectives from individuals aged 20 to 60 (Gen Z: 20-26, Young Millennials: 27-34, Old Millennials: 35-42, Gen X: 43-60), all possessing at least a bachelor’s degree. Where applicable, reported results represent the top two answer sets (strongly agree/agree).
About Amrop
Amrop is a global leadership consulting firm, offering retained executive search, Board and leadership advisory services. We advise the world’s most dynamic, agile organizations on identifying and positioning Leaders For What’s Next – adept at working across borders, in markets around the world. Established in 1977, Amrop operates in Asia, EMEA and the Americas across 69 offices in 57 countries.
Contact:
The Amrop Partnership SC
Rue Abbé Cuypers 3
1040 Brussels, Belgium
T. +32 471 733 825
E. [email protected]
Brigitte Arhold, COO
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View original content:https://www.prnewswire.co.uk/news-releases/new-report-what-rises-in-the-east-and-goes-down-in-the-west-ambition-to-lead-302337266.html
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