CM Murray LLP - Employment, Partnership and Regulatory Law

CM Murray LLP
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Welcome to the CM Murray LLP podcast channel where we discuss a wide range of topical issues in relation to partnership and employment law. CM Murray LLP is a leading partnership, employment and regulatory law firm based in London. We advise US and UK law firms and partners, hedge fund and investment management partners, US and other multi-national employers, senior executives and founders on a range of UK partnership and employment law issues.

  1. 11h ago

    Are You PE Curious? - Part 2: What are the Expectations for PE Investment?

    Private equity investment in law firms is gathering pace. But what does PE ownership actually look like in practice? In our second episode of PE Curious, Corinne Staves is joined by Fredrik Bürger and Mike Strotz of EY-Parthenon, and Zulon Begum and Nick Leale of CM Murray LLP, to explore what firms should expect before and after PE investment. The discussion covers common investment structures, partner decision-making, regulatory considerations, operational change and the growing role of AI. Watch the video here or listen here. Key takeaways: Platform or passenger? Firms will typically either become the platform for future acquisitions or join an existing PE-backed business. Buy-and-build is a common model: PE investors often seek growth through acquisitions, bringing firms together to create scale, efficiencies and a broader platform. Partner buy-in is critical: Successful transactions depend on bringing partners with you and planning for those who may choose not to participate. Regulation remains front and centre: PE-backed firms must continue to meet the same regulatory and professional obligations, with careful attention to governance, confidentiality and conflicts. Data matters: Investors want robust management information and a clear understanding of business performance. Focus shifts to execution: PE ownership often brings a sharper focus on delivering a small number of high-impact strategic priorities. AI is both an opportunity and a risk: Investors are increasingly assessing how firms are using technology and AI, while recognising that competitive advantage may be short-lived as adoption becomes widespread. If you have any questions following this recording, or would like to talk through PE investment in the context of your firm, please do get in touch with Corinne Staves, Zulon Begum or Nick Leale at CM Murray LLP, or Fredrik Bürger and Mike Strotz at EY-Parthenon.

    Are You PE Curious? - Part 2: What are the Expectations for PE Investment?

  2. 2d ago

    Leading on the Tightrope: The Realities of PE-Backed Leadership - IFSEA Podcast

    What does effective leadership look like in private equity and private equity-backed businesses, and what happens when established leadership cultures meet the pace and expectations of external investment? Following the Leading on the Tightrope: The Realities of PE-Backed Leadership discussion at the 7th Annual IFSEA Conference in June 2026, Merrill April of CM Murray LLP is joined by Adil Taha and Cecilie Søndergaard Nielsen to explore the leadership challenges facing private equity and PE-backed businesses, examining the importance of finding the right leadership fit, the role of data in driving cultural and commercial change and the growing impact of AI. Watch the video below or listen here. In this discussion, the panel examine: - What effective leadership looks like in a PE-backed business, and why a successful leader in one environment may not necessarily be the right fit for another. - The value of bringing in fresh perspectives, and how businesses can balance external challenge with an understanding of their existing people and culture. - How data can challenge established thinking and drive better commercial decisions, including the very real impact that seemingly straightforward changes can have on business performance. - Whether AI is really the most pressing priority for businesses, and how leaders should balance its opportunities against more immediate commercial and operational challenges. What leaders should consider when taking private equity investment, including what it could mean for them personally, their people and the longer-term direction of the business. The discussion considers the realities of leading through change in PE-backed businesses and why understanding the people, culture and objectives of an organisation remains critical as leaders navigate new investment, new approaches and new technologies. Watch the video below or listen here. We also thank Jenny Hodges (Aureos, UK) and Kristen Prinz (The Prinz Law Firm, Chicago, USA) who were unable to join the podcast, but participated in the panel on the day of the conference and provided excellent insights. If you have any questions arising from this discussion, please contact Merrill April, Adil Taha or Cecilie Søndergaard Nielsen.

    Leading on the Tightrope: The Realities of PE-Backed Leadership - IFSEA Podcast

  3. Oct 23

    Memory, Perception and the Search for Truth: Why Memory Fails in Executive Investigations - IFSEA Podcast

    How do you establish the facts when human memory is not a faithful recording of events? In the latest IFSEA podcast, Beth Hale, Partner and General Counsel at CM Murray LLP, is joined by Dr Benjamin Griffiths, Assistant Professor at the School of Psychology at the University of Nottingham; Emily Kaufer, Senior Director, Human Rights and Harassment at Air Canada and Joanna Ludlam, Partner at Jenner & Block, to explore the complexities of memory, perception and evidence in executive investigations. Following on from their panel discussion at the IFSEA Conference in June 2026, the speakers bring together perspectives from psychology, law and investigations practice to consider what the fallibility of memory means for those tasked with establishing the facts. Key themes include: Memory and the search for truth: Why memory is reconstructive rather than a precise record of events, and what this means when assessing witness accounts. Testing witness evidence: The role of documentary evidence, timing and proximity to events when weighing different recollections. Stress, trauma and intoxication: How these factors can affect the formation and recall of memories, and why gaps or inconsistencies require careful consideration. External influences: How other people's accounts, media coverage and even the language used in questioning can influence recollection. Investigator bias: Practical ways to guard against confirmation bias and test whether the evidence genuinely supports the conclusions reached. The discussion offers practical insights for investigators, advisers and senior decision-makers navigating situations where memories differ, evidence is imperfect and the facts may not be straightforward. We also thank Ellen Peart, Partner at BCL, who was unable to join the podcast, but participated in the panel on the day of the conference and provided excellent insights.

    Memory, Perception and the Search for Truth: Why Memory Fails in Executive Investigations - IFSEA Podcast

  4. Oct 16

    Incremental or Disruptive? Business Model Change in Professional Services - PPA Webinar Recording

    In this panel discussion, ​Zulon Begum (Partner at CM Murray LLP), Corinne Staves (Partner at CM Murray LLP), David Shufflebotham (Founder at PepUp Consulting) and Rob Millard PhD (Director at Cambridge Strategy Group) are joined by guest speaker Rutvik Rau (Co-Founder and CEO of August) to explore whether AI, external investment and changing client expectations are fundamentally disrupting professional services, or accelerating the evolution of existing models. In particular, the panel discuss: - AI and the changing economics of professional services: How automation could increase efficiency, open up new revenue streams and drive a shift towards new pricing and delivery models. - Scale without headcount: Why growth may become less dependent on increasing lawyer numbers, as technology enables firms to scale their capabilities and services differently. - Competition and consolidation: How AI, investment and new delivery models could intensify competition between firms and reshape the professional services market. - Expertise as an asset: The opportunity for firms to capture and institutionalise the knowledge and experience of their professionals, rather than allowing it to leave when individuals move on. - The partnership model under pressure: Why partnership may be flexible enough to support the next stage of evolution, while increased investment needs raise important questions around capital and funding. - People, culture and leadership: Why successful transformation will require firms to engage their partners, build understanding of AI and overcome resistance to change. - From hype to action: The practical steps leaders can take now, from mapping how work is delivered and identifying efficiencies to understanding the investment needed to become an AI-enabled firm. If you have any questions arising from this recording or would like to discuss the issues facing professional services firms in more detail, please contact ​Zulon Begum (Partner at CM Murray LLP), Corinne Staves (Partner at CM Murray LLP), David Shufflebotham (Founder at PepUp Consulting) and Rob Millard PhD (Director at Cambridge Strategy Group) or Rutvik Rau (Co-Founder and CEO of August).

    Incremental or Disruptive? Business Model Change in Professional Services - PPA Webinar Recording

  5. Oct 8

    Whistleblowing, Sexual Harassment and Interim Relief: What Employers Need to Know - Ten-Minute Talk

    In this Ten-Minute Talk, Associate Ioana Jelea and Partner and General Counsel Beth Hale discuss interim relief in sexual harassment cases following the Employment Rights Act 2025 reforms. They explore why this area has become a significant risk for employers and why interim relief is increasingly being viewed as one of the most powerful remedies available to claimants. If you are an employer, HR professional or adviser dealing with whistleblowing or workplace investigations, this is a must-listen. Key discussion points from this Ten-Minute Talk include: - How the Employment Rights Act 2025 has expanded whistleblowing protection to include disclosures relating to sexual harassment. - Why sexual harassment complaints may now give rise to interim relief applications and what this means in practice for employers. - What interim relief is, why it is often described as a "nuclear weapon" in employment litigation, and the high threshold claimants must satisfy to obtain it. - The potentially significant financial consequences for employers where interim relief is granted. - Practical steps employers can take to reduce risk. As whistleblowing protections continue to evolve and interim relief applications become more common, employers should ensure they are prepared to respond effectively to sexual harassment disclosures and the litigation risks that may follow. If you would like to discuss sexual harassment disclosures, whistleblowing protections, interim relief applications, or any questions arising from this recording, please contact Ioana Jelea or Beth Hale.

    Whistleblowing, Sexual Harassment and Interim Relief: What Employers Need to Know - Ten-Minute Talk

  6. Aug 4

    Compensation, Culture and Competition: Balancing Reward, Governance and Growth

    The market for lateral partner talent continues to place significant pressure on law firms on both sides of the Atlantic. Compensation is increasingly being used as both a recruitment and retention tool, raising important questions about culture, governance and long-term firm strategy. In this podcast, CM Murray LLP Partners Zulon Begum and David Fisher are joined by Lisa Smith, Founding Principal at Fairfax Associates, to discuss how law firms in the UK and US are responding to these challenges and what firms can do to attract and retain key talent whilst protecting collaboration, culture and long-term stability. Watch the podcast here or listen here. Key discussion points include: - The changing role of partner compensation and the growing pressure on firms to move away from traditional lockstep models. - The impact of the lateral hiring market on partner retention, culture and partnership dynamics. - How firms are balancing individual reward and collaboration, including the increasing use of discretionary bonus pools, performance-based metrics and expanded origination credit models. - The governance and legal issues arising from compensation decisions, including performance management, transparency, partner disputes and discrimination risks. - Strategies for managing partner exits and team moves, including notice periods, garden leave, restrictive covenants and good/bad leaver provisions. - The different approaches taken by UK and US firms to partner mobility and retention, and the challenges this creates for international firms. - The impact of cross-border mergers and globalisation on partner expectations, remuneration structures and firm-wide collaboration. If you would like to discuss partner compensation, partner retention, lateral hiring, partnership governance or any of the issues raised in this podcast, or if you have any questions, please contact Zulon Begum, David Fisher or Lisa Smith.

    Compensation, Culture and Competition: Balancing Reward, Governance and Growth

  7. Jul 23

    Are You PE Curious? Part 1: Why Take PE Investment and Let’s Bust Some Jargon

    Private equity is no longer a theoretical conversation for law firms - it’s happening. But what it actually involves, and what it means in practice, is often less well understood. In this first episode of PE Curious, Corinne Staves is joined by Fredrik Bürger and Mike Strotz of EY-Parthenon, and Zulon Begum and Nick Leale of CM Murray LLP, to discuss the reality behind the headlines - from why PE is interested in the legal sector, to how deals are structured, and what it means for partners. Key takeaways: - Why PE is focusing on law firms: A fragmented market and a well-established investment model make legal services a natural next step. - A different way of being paid: Moving from full profit distribution to a salary + equity model is a fundamental shift - financially and culturally. - Structure comes early: Many firms will need an ABS structure, with legal and regulatory considerations shaping the process from the outset. - Diligence goes both ways: Investors will scrutinise financials, risk and performance - but firms also need to be clear on who they are partnering with. - What drives value: The fundamentals still apply: growth, profitability, quality of earnings, scalability and talent - with increasing focus on data and AI. - Alignment is critical: Partner buy-in can’t be assumed. A clear strategy and strong leadership are essential. - Regulation shapes the timeline: SRA approvals and ownership requirements can add complexity and delay if not addressed early. If you have any questions following this recording, or would like to talk through PE investment in the context of your firm, please do get in touch with Corinne Staves, Zulon Begum or Nick Leale at CM Murray LLP, or Fredrik Bürger and Mike Strotz at EY-Parthenon. Corinne Staves is ranked as a “Star Individual” by Chambers and Partners UK 2026 for Partnership: Non-contentious: “One of the absolute leaders in the field on both contentious and non-contentious matters, regulatory and litigation.” Zulon Begum is ranked Band 1 by Chambers and Partners UK 2026 for Partnership: Non-contentious: “Zulon is extremely responsive and has a solid handle on the challenges of pressure and in the regulatory environment that we have been dealing with.” ”She is calm and confident and gives the sense and feeling of really knowing the topic and the market, which is very important.” Nick Leale is recommended by Legal 500 2026 for Professional Discipline: "Partner Nick Leale is a great addition to the team. He is knowledgeable, approachable, and puts all his efforts into getting results for his clients.” CM Murray LLP is ranked Tier 1 for Partnership by Legal 500 2026: “This practice is unique due to its very specific focus on partnership matters and related transactions.” #privateequity #lawfirms #professionalservices #PE #partnershiplaw

    Are You PE Curious? Part 1: Why Take PE Investment and Let’s Bust Some Jargon

  8. Jul 13

    When Lawyers Break the Law Outside Work: The Regulatory Consequences - ReguLaw Podcast Episode 6

    How should regulators respond when criminal offences or other misconduct occur outside a professional's practice? In the latest episode of our regulatory podcast ReguLaw, CM Murray Partners Beth Hale and Andrew Pavlovic are joined by Chloe Carpenter KC of Fountain Court Chambers to discuss the recent High Court decision of Hickey v Bar Standards Board and its wider implications for lawyers and other regulated professionals.  Beth, Andrew and Chole discuss: - Why regulators care about conduct outside of practice - Regulators may take action in relation to conduct outside practice where it raises concerns about fitness to practise or could diminish public trust and confidence in the profession. - Context matters – The Hickey judgment demonstrates the need for regulators to assess the specific facts of each case rather than applying a blanket approach to sanctions relating to criminal conduct. - The nature of the misconduct is critical - Courts and regulators will look closely at the nature of the conduct and the extent to which it genuinely reflects on the individual's professional standing. - Reporting obligations can arise at an early stage - Criminal cautions, charges and convictions will often trigger automatic regulatory reporting obligations, but wider reporting obligations will also need to be considered at the earliest possible stage. - Non-criminal conduct can also attract scrutiny - Regulatory concerns are not limited to criminal offences and may extend to other forms of personal conduct outside professional practice.  - Practical lessons for regulated professionals - The discussion highlights the factors courts and regulators are likely to consider when balancing public confidence, proportionality and professional standards. If you have any questions about the issues discussed in this episode, or would like advice on regulatory investigations, disciplinary proceedings or self-reporting obligations, please get in touch with Beth Hale or Andrew Pavlovic.

    When Lawyers Break the Law Outside Work: The Regulatory Consequences - ReguLaw Podcast Episode 6
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Welcome to the CM Murray LLP podcast channel where we discuss a wide range of topical issues in relation to partnership and employment law. CM Murray LLP is a leading partnership, employment and regulatory law firm based in London. We advise US and UK law firms and partners, hedge fund and investment management partners, US and other multi-national employers, senior executives and founders on a range of UK partnership and employment law issues.

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