Business sets the pace in a global order marked by risk and fragmentation
As governments grapple with regulation and national security priorities, the private sector has stepped into the breach
2023 was a year of change for White & Case, as I stepped into the role of Chair and my predecessor, Hugh Verrier, completed his successful 16-year tenure. The Firm began a new chapter well positioned for continued growth. This review highlights many of the achievements and pioneering initiatives that took place throughout the year.
As the world became increasingly fragmented, we focused on the global connections that matter to our clients. We collaborated across borders, providing integrated services and maintaining the strong personal and professional bonds that make a difference, particularly in uncertain times.
Our work on high-stakes deals, disputes and pro bono matters placed us at the center of industry trends related to energy transition, finance, technology and more. We contributed to the conversation on these issues, publishing insights that included a comprehensive report on the future of globalization. Our report, A world of clubs and fences: Changing regulation and the remaking of globalization, puts forward a new conceptual model to understand cross-border interconnectedness in a time of sweeping legal and regulatory changes.
We also increased our ability to serve clients, promoting 46 new partners and welcoming 36 lateral partners. We continued to find innovative solutions that enhance client services and foster efficiency. And as generative AI continues to make headlines, we developed tools that will enable us to embrace its possibilities, while carefully managing its risks.
Looking ahead, White & Case enters its next phase with a solid foundation and an ambitious growth plan that will keep us at the forefront of the rapidly changing legal industry. I look forward to what we and our clients will accomplish together in the coming years.
Guest speakers at Firm events share views on timely topics
As governments grapple with regulation and national security priorities, the private sector has stepped into the breach
Our learned behavior and ideas about work may keep us from operating at our best
By uniting industry participants who may seem to have divergent interests, the Global Battery Alliance is paving the way for a sustainable battery supply chain
Developments that reshaped the world
The war in Ukraine and high energy prices challenged energy transition timetables, but governments and investors were determined to stay the course
M&A and debt market activity declined in 2023, as high interest rates and macroeconomic dislocation saw increasingly cautious dealmakers and lenders put deployment on hold
Growth and investment in generative artificial intelligence (GenAI) lifted the technology sector after a slowdown in transaction activity throughout 2023, but regulatory challenges loomed large
The relatively free cross-border flow of goods, capital, information and people that have characterized globalization for decades is being replaced by regulatory "clubs" and "fences"
Highlights of our work in 2023
Our achievements position us for success
US$2.95 billion in revenue
2,559 total lawyers
1,291EMEA
998Americas
271Asia-Pacific
1,220US-qualified lawyers
550English-qualified lawyers
In markets around the world, White & Case earned many of the legal industry’s top accolades
White & Case is committed to fair and ethical operations that respect the interests of our stakeholders and recognize the importance of protecting our environment. Our Responsible Business Subcommittee leads environmental, social and governance (ESG) and sustainability efforts across our global operations.
As a signatory to the UN Global Compact, we affirm our commitment to doing business responsibly by aligning our operations with the Compact’s ten principles on human rights, labor, the environment and anti-corruption. Our most recent Communication on Progress outlines the steps we are taking to continue to embed these principles into our Firm’s operations.
Our latest Environmental Sustainability Report includes information on our sustainable operations, scope 1, 2 and 3 greenhouse gas emissions data, and our most recent Environmental Management Systems survey. Highlights from 2023 include:
Committed to advancing diversity and inclusion across the Firm
11 global affinity networks
Our 11 affinity networks foster a sense of community among the Firm’s Black, Asia-Pacific, Latinx/Hispanic, Middle Eastern and North African, minority ethnic and LGBTQ+ lawyers, business services professionals and their allies. Each network sets its own agenda, initiatives and goals, which are specific to the issues it considers most important. Affinity networks create and enhance awareness of these groups within the Firm and its larger culture, drive community and connection across our global offices, and support their members with career and professional development opportunities.
24 local women’s networks
Our 24 local women’s networks are active in 40 offices across the Americas, EMEA and Asia-Pacific. These networks foster professional development and mentoring activities. They also provide a forum for our lawyers and business services professionals to share perspectives and create programs to support and retain our women while fostering and promoting gender equity.
42% of the Firm’s global management
50% of the Executive Committee
21% of other leadership roles
36% of our 2023 global partner promotions
25% of global Partnership
43% of our lawyers
42% of our lawyers self-identify as of color
7% of our lawyers self-identify as LGBTQ+
4% of our lawyers self-identify with disabilities
28% of our partners self-identify as of color
3% of our partners self-identify as LGBTQ+
4% of our partners self-identify with disabilities
32% of our lawyers self-identify as of color
10% of our lawyers self-identify as LGBTQ+
4% of our lawyers self-identify with disabilities
13% of our partners self-identify as of color
5% of our partners self-identify as LGBTQ+
2% of our partners self-identify with disabilities
125nationalities
92languages spoken
Our commitment to diversity and inclusion is recognized by leading publications and alliance organizations
White & Case women gather to build connections and advance career opportunities
6 continents
44offices
30countries
An internal guide addresses 20 areas of legislation in four Asia-Pacific countries
A transformative technology enables new ways of working
Photo by © ASF - Architect Simone Forconi
iBridge, an interactive pedestrian bridge submitted for a design competition. Sensors on the floor of the bridge allow it to transform pedestrian and cycling traffic into usable energy.
Numerous studies have shown that burnout and mental health issues are particularly prevalent in the legal profession. We talked to author and executive coach Nataly Kogan about why that is and what lawyers and other professionals can do to prevent it. In recognition of World Mental Health Day in October 2023, Kogan spoke to several groups of White & Case colleagues worldwide.
Kogan has firsthand experience with the debilitating effects of burnout: She began her career with stints at fast-paced companies such as McKinsey and Microsoft, moved on to become a managing director at a venture capital fund and then founded or served as a leader at five startups and tech companies. But seven years ago, she hit a wall and resolved to find a new way to live and work. An edited version of that conversation follows.
Burnout has gotten more attention in recent years. Why do you think it is so hard for people to recognize its signs?
There are a few reasons. For one, you can be really smart and lack emotional awareness. If you don't have that as a regular practice, then you only become aware of your emotions when you feel truly awful.
Second, many people recognize that they are struggling and assume that's exactly how it should be. There's an idea that to have a great career, you have to suffer.
How did we come to believe that success at work requires suffering?
It's helpful to acknowledge that people are partly shaped by learned behavior and that we may have acquired our sense of what work should look like from multiple places, inside and outside the workplace. I often talk about questioning the stories we believe about ourselves and our lives. I tell people, "Our brain is not a reporter—it's an editorial writer." It chooses specific data points, usually slanted toward past experiences based on what we've learned. And those stories become our identity. I have talked about the skill of editing our thoughts and the stories that we tell ourselves. I coach people to challenge their assumptions using two questions: "Is it true?" and "Is it helpful?" This can be hard, especially for high achievers who genuinely believe that suffering is a part of success. On the second question, I could have asked myself if suffering helped me be my best, and the answer would have been no. When I struggle, I am less effective at what I do.
You talk about setting boundaries. People are aware of this concept, so why do you think it is so hard to do?
Awareness is not the same thing as implementation. Many people know that boundaries are essential and that we can't be on 24/7. But talking about what that means in practice often doesn't happen. One of the giant things that causes stress and burnout is not knowing how to handle team communications and requests when expectations are unclear. For example, if a leader emails someone on the weekend, the recipient might feel they should not respond to "set boundaries," but they aren't sure because there's never been an explicit discussion of the boundaries. The other thing I see a lot is incorrectly assuming that boundaries mean that people can never respond to an email after 5:00 p.m., on the weekend, etc. That is not realistic in a service business. Again, it's about having a conversation and setting clear, context-specific expectations. To be clear, there is a team responsibility and a leader responsibility for setting boundaries. There's also individual responsibility, by which I mean your boss can't get inside your head to understand what you need when you are not working. And you also can't know what's behind a boss's deadline or request unless you ask.
You have worked with many different types of organizations. Are there challenges unique to law firms?
To be sure, law firms are client-driven. We think of these organizations as one law firm, but what determines your work style and how you feel is your team and your client, which change over time. So that means there must be a lot more clarity and communication about expectations, and they need to happen at the team and client level. The other thing is the work and pace can be so intense that it's easy to lose sight of purpose. When we feel a sense of purpose, we're better able to manage stress, we have more energy, we are more resilient and we make better decisions. So it's important to elevate above the work of the moment and ask yourself: How does this help our client? What does it help them do? When we feel we are working for a higher purpose, we feel good. And that is also how we bring our best.
Photo by © Olaser / GettyImages
Workers leave an office in the United Arab Emirates