It has traditionally been common for lawyers to move from private practice to in-house counsel. But these days, you’re as likely to find corporate counsel relocating to firms.
"I think that the skill set and the capabilities you need to be a top general counsel are just as useful in private practice," says Martin Guest. You need to be able to drive results, manage risk and be very practical."
After six years at a major Canadian firm, Martin spent 13 years at Fidelity Investments Canada, during which time he saw the company grow from C$5 billion to C$30 billion in assets. Martin went from being the company's sole legal counsel to being the head of a legal department of 20. By 2008, he wanted a new challenge. After canvassing his options, he accepted a partnership with Torys' Toronto office—impressed by the level of intellectual stimulation it offered, the depth of learning opportunities and the range of work on tap.
"There is something very energizing about being called upon to solve some of the most complex problems an organization faces—and being able to help," he says.
Martin isn't having difficulties picking up the substantive law and practice skills that he wasn't using at Fidelity. And with all his in-house contacts, he's optimistic that he'll quickly build up a thriving practice: "I think that there will be increasing opportunities for this kind of cross-flow between the two sectors. Everyone benefits when each side has a better understanding of the other."
When it comes to hours and stress levels, in-house might offer a slightly easier role—but don't count on it. "I think the reality is, competition is everywhere, and every successful person I know works hard, period. It doesn't matter whether you are in-house or in private practice anymore," says Martin.
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